Unemployment Rate of 8.1%

locallyunscenelocallyunscene Feeder of Trolls Join Date: 2002-12-25 Member: 11528Members, Constellation Posts: 4,022 Fully active user
:-( >:-o :'-( >_<
Do you think it's going to go down more?

Have you seen lowered employment in your area?

Are you stockpiling canned goods yet?

What's your favourite theory on turning this around?

Do you think it's going to go down more?
Yes, we've only just matched the 80's crisis levels and I think this is worse and more global than that.

Have you seen lowered employment in your area?
Substantially. I work in NYC and I see less than half the people around than I used to. Also I was unemployed for a month(I'm working now, knock on wood).

Are you stockpiling canned goods yet?
Nah, I don't think it's going to get anywhere near Great Depression bad. Just the closest to it since then.

What's your favourite theory on turning this around?
Investment in long term growth, infrastucture, technology, education. I don't think there are any immediate things that can be done.
QUOTE (Flayra @ Mar 28 2007, 09:21 PM) »
It's not an easy balance to achieve, but we do want to make a game that will be both the best competitive game since Starcraft and also one that many people can enjoy casually without being in a clan or an experienced or knowledgeable NS player. That's the goal at least!


- NS in game name - tilde - My Steam Id Page - .

Comments

  • zimzumzimzum Join Date: 2004-09-02 Member: 31200Members, Reinforced - Shadow Posts: 251 Advanced user
    edited March 2009
    QUOTE(locallyunscene @ Mar 6 2009, 10:36 AM) »
    What's your favorite theory on turning this around?


    my favorite theory starts with blowing up the Federal Reserve. then reinstating a currency system that would not be worth less than face value the second it was created and subjected to artificial debt based on some bankers mood.
    The new posts that pop up daily by some guy with 3 hours playtime who knows how to perfectly balance this game already make me want to vomit - PaLaGi
  • juicejuice Join Date: 2003-01-28 Member: 12886Members, Constellation Posts: 1,044
    Actually I do think the FED will be abolished or made obsolete like many want. But unfortunately the replacement will just be a global system which does exactly what the current FED does, with a global currency which fails in all the ways our current fiat system fails. It will break down like Bretton Woods did when everyone admitted the dollar was already essentially fiat when we didn't have enough gold to pay people an ounce for $35. Oh well.

    Since Geithner was NY FED pres, and he's now Treasury Secretary, I'm not holding my breath for a real currency, zimzim. But yeah, that's what we should do.

    Consumer borrowing just increased again for the first time in 3 months! Woooo.... don't save, people, just speeeend, before your money is worth nothing!
  • FraxinusFraxinus Join Date: 2008-03-02 Member: 63783Members, Constellation Posts: 177
    I've heard about companies canning people in the hundreds left and right where I'm from, what sucks is that I am hearing about parents of friends who are losing jobs. I'm just glad that I'm in school.
    -Frax*
  • locallyunscenelocallyunscene Feeder of Trolls Join Date: 2002-12-25 Member: 11528Members, Constellation Posts: 4,022 Fully active user
    QUOTE(Fraxinus @ Mar 6 2009, 11:20 PM) »
    I've heard about companies canning people in the hundreds left and right where I'm from, what sucks is that I am hearing about parents of friends who are losing jobs. I'm just glad that I'm in school.

    It's funny, but now's actually a good time to be in debt(in there is such a thing). Interest rates are low, and banks are willing o settle for less if they think they will get nothing.
    QUOTE (Flayra @ Mar 28 2007, 09:21 PM) »
    It's not an easy balance to achieve, but we do want to make a game that will be both the best competitive game since Starcraft and also one that many people can enjoy casually without being in a clan or an experienced or knowledgeable NS player. That's the goal at least!


    - NS in game name - tilde - My Steam Id Page - .
  • DreadDread Join Date: 2002-07-24 Member: 993Members Posts: 3,463
    Some perspective: Finlands unemployment rates:

    Year %
    2000 9.8
    2001 9.1
    2002 9.1
    2003 9.0
    2004 8.8
    2005 8.4

    And according to quite a few sources, all this time, we've been doing pretty damn well. All I'm saying is that you can't judge a nations condition based on one factor.

    And yeah, we've taken a hit from the financial meltdown just like everyone else. But I'm not particularly worried, this is exactly normal for the market. I'd be more worried if this kind of thing didn't happen every once in a while.
    "Now this is going to be your first day out on a strange new planet, so I want you all wrapped up snug and warm, and no playing with any naughty bug-eyed monsters"
  • andrewpaulandrewpaul Pakistan Join Date: 2015-03-24 Member: 202515Members Posts: 0
    Unemployment is worldwide realty and it has become more worse in Pakistan...
  • Soylent_greenSoylent_green Join Date: 2002-12-20 Member: 11220Members, Reinforced - Shadow Posts: 2,867 Advanced user
    edited April 2015
    90-95% of the money supply is created by commercial banks, not central banks. When you borrow money, the bank simply credits your account, signifying that the bank owes you money. When you pay for a house or whatever with borrowed money, the bank simply credits some other account. To whomever they lend money and for whatever purpose, it all ends up as deposits in the end; and these deposits move around the economy being used for wages, grocery shopping with credit and debit cards and so on. The more the bank lends, the more "bank money", this funny kind of deposit money, it creates; when debts are defaulted or paid down, money is destroyed.

    There is no logical or appealing reason it should work this way.

    During the boom, lending creates inflation that amplifies the asset price inflation. Buying a house is rational even if you know it's a bubble if you think you can pawn it off on some even greater fool. If you can lower lending standards, you can inflate the bubble further before it finally pops. During the bust, defaults drive a deflation that causes more defaults. The monetary diarhea that is quantitative easing and 0% interest rates has barely kept up with the imploding bank money supply. It has inflated a bubble in stocks and prevented a correction in housing prices which would have been a tremendous benefit to the middle class. Yes, house prices would have dropped a lot more, and it would have been painful for people up to their eyeballs in debt; but that's not a bad thing, a lot of people who did not get involved in the orgy of debt and instead saved their money, would have been able to buy houses cheaply without incuring crippling 30 year mortgages.

    It is important to understand that this problem persists even under a gold standard. Take e.g. the scottish free banking period. Gold accounted for about 2% of the money supply. The rest was little paper tickets issued by banks as receipts for gold and redeemable in gold.

    The report on monetary reform by Frosti Sigurjonsson (member of the parliament of Iceland) is a particularly well written introduction to the problem: http://eng.forsaetisraduneyti.is/media/Skyrslur/monetary-reform.pdf
  • Soylent_greenSoylent_green Join Date: 2002-12-20 Member: 11220Members, Reinforced - Shadow Posts: 2,867 Advanced user
    Dread wrote: »
    Some perspective: Finlands unemployment rates:

    Year %
    2000 9.8
    2001 9.1
    2002 9.1
    2003 9.0
    2004 8.8
    2005 8.4

    Unemployment rate is even less meaningful than GDP and government inflation indices. You especially cannot compare it to other countries. It is tempting to use a map if you have one, even if you know the map is wrong in ways you cannot easily account for; but that can be worse than nothing.

    E.g. In the US the long term unemployed who are no longer entitled to unemployment pay are not counted as unemployed even if they are still looking for work. Engineers who used to do cool and productive stuff and now work part time at McDonalds are not counted as unemployed. Students are not considered as unemployed, even if they're taking something useless like womens studies with no possible productive application and even if they are only there because their unemployment pay was about to expire.

    The way all these indices are measured varies over time with whatever political goals their implementers are trying to achieve. If the US employment rate was reported the way it was in the 1980's it would be about 20%.

  • NoMNoM Join Date: 2015-04-13 Member: 203407Members, NS2 Playtester Posts: 39 Fully active user
    zimzum wrote: »
    my favorite theory starts with blowing up the Federal Reserve. then reinstating a currency system that would not be worth less than face value the second it was created and subjected to artificial debt based on some bankers mood.

    There's no such thing as a currency system which does not change value. If your country produces nothing, yet wants to buy lots of things from overseas, why should they accept your money if they can't buy anything with it. While this is the most extreme example, it points out why such a system is not possible.

    Also you assume the debt is artificial, if your country wants to purchase lots of materials overseas; say $500 million, yet they only have $300 million in budget. They're going to borrow $200 million to get the goods now and intend to pay it back at a later date.
  • Racer1Racer1 Join Date: 2002-11-22 Member: 9615Members Posts: 1,548 Advanced user
    edited April 2015
    The real current unemployment rate is 11%, and has been coming down from 15% since 2008. The fact that 45 million adults have been unemployed for over 12 months and so don't "count" is absurd.
  • LuitjensLuitjens Join Date: 2010-07-26 Member: 73034Members, NS2 Playtester, Squad Five Blue, Reinforced - Shadow, Subnautica Playtester Posts: 353 Advanced user
    Atleast it aint 2009 where the unemployment rates on the west coast were 12% it was brutal to find a job.,...
    Co-Lead Playtester @ UWE-Subnautica yt - InternetsLIVE
  • 2cough2cough Rocky Mountain High Join Date: 2013-03-14 Member: 183952Members, Reinforced - Shadow, WC 2013 - Supporter Posts: 1,022 Advanced user
    Wow why was this thread necro'd?
  • LuitjensLuitjens Join Date: 2010-07-26 Member: 73034Members, NS2 Playtester, Squad Five Blue, Reinforced - Shadow, Subnautica Playtester Posts: 353 Advanced user
    No idea. But this is the forum to do it :)
    Co-Lead Playtester @ UWE-Subnautica yt - InternetsLIVE
  • thecatempirethecatempire Manchester, UK Join Date: 2015-08-24 Member: 207446Members Posts: 13 Fully active user
    Do you think it's going to go down more?
    I hope so :)

    Have you seen lowered employment in your area?
    Not really, I think there are a lot of jobs available.

    Are you stockpiling canned goods yet?
    Always! Ha, not at all.

    What's your favourite theory on turning this around?
    Gosh...I couldn't say how :/ Hope someone thinks of something!
  • NoMNoM Join Date: 2015-04-13 Member: 203407Members, NS2 Playtester Posts: 39 Fully active user
    edited November 2015
    Trump said it was as high as 40%, in one of his speeches. lol
  • stellabellystellabelly NY Join Date: 2017-09-12 Member: 232967Members Posts: 4 Freshly registered user
    At present wy7fo3xcc6p3.jpg
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