DiscussMormonism.com

"The Dow Jones Industrial Average on Friday was on track to shed more than 1,105 points for the week, which would be its steepest weekly slide since Oct. 10 2008, when it shed 1,874 points, according to FactSet data"

https://www.marketwatch.com/story/the-dow-industrials-have-tumbled-730-points-this-week-its-worst-point-loss-in-2-years-2018-02-02

...what's up? I've lost millions of dollars, was only able to create 1000 new, very high paying jobs and all my very wealthy friends were not able to fuel their private jets this week so we couldn't get together at our private turkish baths to discuss how to "deploy our capital" to better make america great. I had to sell off all of the superbowl box seats that my croquette buddies, Tucker Carlson and James Woods, gave me when I beat them in our weekly personal submarine races off the coast of morocco. Obamama, clinton emails, BENGAZII!!!!!, 'Merica! hating libruls, 'Merica!, 'Merica!, something about a memo, 'Merica!'Merica!.

http://www.latimes.com/business/la-fi-m ... story.html

DOW drops 666 points today.

666>????

BLAME OBAMA

Here's a little secret about Capitalism, the Federal Reserve and inflation:

When the economy is booming and the unemployment rate is falling the Federal Reserve gets worried. Why? Because the lower the unemployment rate goes, the more competition there is to attract new employees, which means higher wages. Traditional wisdom says that this leads to higher prices and inflation.

So in order to cool off the economy, the Fed will raise interest rates, which slows down borrowing, which slows down expansion.

The dirty little secret is that the Federal Reserve consistently behaves as if zero unemployment is bad for the economy, so they always want a larger labor force that the demand for the labor force.

So when it comes to the last few percentage points of unemployment, the fed works to make sure the rate does not go down too far.

So the short answer is: If you're one of the last unemployed the economy will always be stacked against you.

MeDotOrg wrote:Here's a little secret about Capitalism, the Federal Reserve and inflation:

When the economy is booming and the unemployment rate is falling the Federal Reserve gets worried. Why? Because the lower the unemployment rate goes, the more competition there is to attract new employees, which means higher wages. Traditional wisdom says that this leads to higher prices and inflation.

So in order to cool off the economy, the Fed will raise interest rates, which slows down borrowing, which slows down expansion.

The dirty little secret is that the Federal Reserve consistently behaves as if zero unemployment is bad for the economy, so they always want a larger labor force that the demand for the labor force.

So when it comes to the last few percentage points of unemployment, the fed works to make sure the rate does not go down too far.

So the short answer is: If you're one of the last unemployed the economy will always be stacked against you.

You sound like a librul who whats to keep americans in slavery and reliant on the government teat!

donald j Trump wont let the fed hold the economy back - he will end unemployment, everyone will have high paying jobs, the united states (a.k.a., the greatest country ever in the history of the world) will put all inferior countries in their place, everyone will have massive bitcoin portfolios and everyone willing to just work hard will be millionaires like me and bach! There is nothing the donald can't accomplish....just look at the stock market!!! He said america 80 times in his SOTU address...80 times!!!

Well, I sold all my Bitcoin at 16K so I'm set; I'm a billionaire now. I'm investing all of it in coal because Trump wants to make that industry relevant again, and since he's a billionaire no one is smarter than him (or me now!).

- Doc

MeDotOrg wrote:Here's a little secret about Capitalism, the Federal Reserve and inflation:

When the economy is booming and the unemployment rate is falling the Federal Reserve gets worried. Why? Because the lower the unemployment rate goes, the more competition there is to attract new employees, which means higher wages. Traditional wisdom says that this leads to higher prices and inflation.

So in order to cool off the economy, the Fed will raise interest rates, which slows down borrowing, which slows down expansion.

The dirty little secret is that the Federal Reserve consistently behaves as if zero unemployment is bad for the economy, so they always want a larger labor force that the demand for the labor force.

So when it comes to the last few percentage points of unemployment, the fed works to make sure the rate does not go down too far.

So the short answer is: If you're one of the last unemployed the economy will always be stacked against you.

Hi MeDotOrg,

It's been a long time since I took economics, but I seem to recall from Macro that the very bottom of the single digits of unemployment generally represent transitioning workers between jobs making 0% unemployment unattainable in real terms. So generally something around 3% being considered effectively full employment. That's not to disagree with your overall points and maybe I'm misremembering.

honorentheos wrote:

MeDotOrg wrote:Here's a little secret about Capitalism, the Federal Reserve and inflation:

When the economy is booming and the unemployment rate is falling the Federal Reserve gets worried. Why? Because the lower the unemployment rate goes, the more competition there is to attract new employees, which means higher wages. Traditional wisdom says that this leads to higher prices and inflation.

So in order to cool off the economy, the Fed will raise interest rates, which slows down borrowing, which slows down expansion.

The dirty little secret is that the Federal Reserve consistently behaves as if zero unemployment is bad for the economy, so they always want a larger labor force that the demand for the labor force.

So when it comes to the last few percentage points of unemployment, the fed works to make sure the rate does not go down too far.

So the short answer is: If you're one of the last unemployed the economy will always be stacked against you.

Hi MeDotOrg,

It's been a long time since I took economics, but I seem to recall from Macro that the very bottom of the single digits of unemployment generally represent transitioning workers between jobs making 0% unemployment unattainable in real terms. So generally something around 3% being considered effectively full employment. That's not to disagree with your overall points and maybe I'm misremembering.

You are correct: It would be virtually impossible for the country to have a 0% unemployment rate. The real figure is probably close to what you say, 3%. But regardless how the figure is calculated, the fact is that the Fed likes an economy predicated on having more workers than jobs.

Ironically, one of the reasons a lot of American workers have health insurance started with a labor shortage. During World War II with so many able-boded men serving in the military, there was tremendous competition among employers for qualified workers. Wage and price controls were in place, so in order to entice workers, many companies started adding the benefit of health insurance.

honorentheos wrote:

MeDotOrg wrote:Here's a little secret about Capitalism, the Federal Reserve and inflation:

When the economy is booming and the unemployment rate is falling the Federal Reserve gets worried. Why? Because the lower the unemployment rate goes, the more competition there is to attract new employees, which means higher wages. Traditional wisdom says that this leads to higher prices and inflation.

So in order to cool off the economy, the Fed will raise interest rates, which slows down borrowing, which slows down expansion.

The dirty little secret is that the Federal Reserve consistently behaves as if zero unemployment is bad for the economy, so they always want a larger labor force that the demand for the labor force.

So when it comes to the last few percentage points of unemployment, the fed works to make sure the rate does not go down too far.

So the short answer is: If you're one of the last unemployed the economy will always be stacked against you.

Hi MeDotOrg,

It's been a long time since I took economics, but I seem to recall from Macro that the very bottom of the single digits of unemployment generally represent transitioning workers between jobs making 0% unemployment unattainable in real terms. So generally something around 3% being considered effectively full employment. That's not to disagree with your overall points and maybe I'm misremembering.

You are correct: It would be virtually impossible for the country to have a 0% unemployment rate. The real figure is probably close to what you say, 3%. But regardless how the figure is calculated, the fact is that the Fed likes an economy predicated on having more workers than jobs.

One of the reasons a lot of American workers have health insurance started with a labor shortage. During World War II with so many able-boded men serving in the military, there was tremendous competition among employers for qualified workers. Wage and price controls were in place, so in order to entice workers, many companies started adding the benefit of health insurance.