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WNYC business and economics editor, Charlie Herman, talks about the latest jobs numbers and the Federal Reserve's announcement of bleaker economic projections.
Lousy segment - made me yell at my radio!
They Keynesian / Liberal view says that budget cutting austerity will lead to collapsing growth which will lead to more budget cutting as tax revenues collapse, rinse & repeat until an economy is destroyed.
But conservatives can reply - Well, we did cut the deficit ! Since that is ALWAYS the right thing to do ? Even if it destroys and economy ?
So it's just he said she said really whats the difference.
Also I HATE when it's trotted out that "12 million dollars is nothing to Rich Guy A" WRONG. If it was nothing to him, why was it written up that he would get it ? 12 Million is not NOTHING to ANYONE! Guess what - John Corzine is greedy and loves money. That is why is he went back to RUNNING A HEDGE FUND! He want's money - lots and lots of money. Thing Scrooge McDuck, not Ghandi here.
You're failing to point out what the Corzine debacle actually reveals: that the new speculative bubble is "Europe". The new game is Will The Euro Fail?, and there's a boatload of dosh to be made on that gamble, and as always to heck with the consequences for everyone else. The Euro "Crisis" is nothing more than another lucrative game of Market Warfare; Stock Markets are being consciously manipulated at a very high level by certain financial interests who are profiteering from the political unrest and instability they cause, at our expense. And since Europe represents regulation, mixed economies and social equity, targeting them has multiple advantages for these players, especially when their long term plans lie in Asia. Merkel's threat of civil breakdown and war will only encourage them because actual war is even more profitable for these sociopaths (it's how Bush's forebears made their filthy haul, and look where that led us.) When are we going to stop being fed the narrative that the"Markets" are some nebulous omnipresent force rather than a highly orchestrated business dominated by a few extremely dangerous organizations vying for lead fiddle.
but americans keep buying stuff made with chinese labor because its cheaper.our greed is biting us in the rear
I have such a hard time lately listening to WNYC because almost every guest begins with 'So,' and says 'like' and (in this case especially) 'you know' SO SO much...
I agree with the guy who called and said he thinks corporations are holding back because of the election. The CEO's don't care about anything as long as they're getting their own oats. Not expanding might mean the shareholders are a little dismayed, but it's only a year, and how cool will they all look once they put their foot on the pedal again and make everything alright? One slow year's not going to kill them. Even going bankrupt is a liberation for some of these guys on top. LIke, the guys running Filene's? They're not hurting personally. Only their employees are. The guys on top will go on to do something else, and haven't lost any of their own personal money. They're corporations!
How about the best way to create jobs is to STOP OUTSOURCING THEM!!!!!
That is the correct turn, these numbers are "cyclical" such is life, as the world turns..there are more cliche's that I hate to describe..but why can't we just talk about this moment?
Who exactly is Charlie Herman, and what are his qualifications in the field of economics? For example, has he studied macroeonomics? Does he understand the field? Is the analogy to Greece really well considered
This kind of "business" reporting, so characteristic of American media -- present both official sides of conventional wisdom, including the Confidence Fairy, as you see them and you're done! -- does the public no service.
Why are companies so much more concerned about shareholders who sit on their bums and add or subtract their money from these corporations instead of being more concerned about their employees who break their hump keeping these corporations running! They take away benefits from the workers to give to the investors? When did that start? It's been a long time now but again we just sat back and watched it happen and here we are, where we are. Most investors are the 1% OWS refers to and again, here we are.
There is a level of public _shame_ that financial CEOs/execs. face now that they didn't just a few months ago because of OWS. While the Tea Party felt the bailouts to the banks were wrong, for the most part they are more than happy that people make what they make, no matter how outsized the compensation.
Nice dodge caller, jobs down so let's switch to a question about gas prices...typical!
profits and bonus are upcould someone tell me why the job creators would hire americans if they can profit with cheap chinese labor also for those with a degree unemployment is <5%. while for non-college grads it >11% the answer is education. if they had gone back to school 3 years ago they could have had a job by now.
He didn't say anything. We know as much as we knew before he came on this segment.
Yeah, it shows how quickly things can change so stop talking like you know how the economy WILL improve, slowly or otherwise. You have no idea what will happen. You talk out of both sides of your mouth and we don't care. We don't really take your word for anything.
I was one of those 80,000! Just got a new job after five months of unemployment.
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