No Quick Way to Cut the Unemployment Rate; President Advisor Paul Volcker Says

[DimplesinMI]

Paul Volcker, a top economic adviser to President Obama, said Tuesday, November 8, that he sees no short-term way to reduce high U.S. unemployment and expects slow growth in job creation for at least, the next year or more.

Volcker stated his comments during a Beijing, China at the International Financial Forum; after the Federal Reserve said last week it would purchase $600 billion in Treasurys in an effort to boost growth and create jobs. The nations' current unemployment rate stands at 9.6 percent.

"I have no answer to it at the moment, and I think that is the basic problem," said Volcker when asked about unemployment the financial forum conference.

"I suspect that it will gradually decline. But the basic fact of the matter is that the economic outlook is for continuing but limited increases in economic activity for the next year or more," he said.

http://www.reachoutjobsearch.com/2010/11/no-quick-way-to-cut-unemployment-rate.html

[Hannah Bell]

1. paul volker = liar. architect of the reagan unemployment; he knows how to

create unemployment & he knows how to reduce it.

fuck volker.

[FBaggins]

2. Volker was actually a big part of what got us OUT of that recession/stagflation

And he was a Carter appointee, not Reagan.

[Hannah Bell]

3. i never said he was a reagan appointee, i said he was architect of the reagan unemployment.

and he was.

yes, he got us "out of stagflation" by giving the money men who created "stagflation" what they wanted.

if you don't understand that volker launched the attack on the working class, too bad for you.


He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). Since February 2009, he has been Chairman of the Economic Recovery Advisory Board under President Barack Obama.<2>

http://en.wikipedia.org/wiki/Paul_Volcker

Volker: in the picture for the two biggest unemployments since WW2.

[DimplesinMI]

4. Maybe this is another chamber member

That President Obama needs to get rid of? You think?

[Hannah Bell]

5. these folks do what they do because of the interests who want it done.

[leftstreet]

6. Fuck Volcker! They sure found a quick way to solve Wall Street's problems

but not ours

:grr:

[RaleighNCDUer]

7. Yes, there is.

Direct hiring by the government for infrastructure development. A modern day WPA & CCC. Put a million people to work on building the roadbed for the cross-continent high speed rail, building bridges along the route...those million workers spend their paychecks, buying typical consumer goods, retailers hire to provide service to match increasing demand.

But we can't do that. That would be 'spending' (I guess republicans don't understand the concept of investing).

[gratuitous]

8. After all, a massive public works program is totally out of the question

And maybe those sewers and roads and schools will fix themselves. Really, what's the likelihood that that aged bridge will fall down at the precise moment you're crossing it? And after spending all those billions of dollars to fix things up, what would we have to show for it? Would we have anything to compare with the horrific degradation of Iraq, where Saddam Hussein is indisputably no longer in power? How would it stack up to the bouncing rubble of Afghanistan?

[billlll]

9. ZERO unemployment tomorrow - PERMANENT WPA

Permanent WPA = ZERO unemployment..... forever

Michael Moore, Robert Reich just called for a new WPA

Site for JOBS FOR ALL info at link below....
site's Advisory Board -----------

Robert Reich, former Secretary of Labor

2 Nobel Laureates - see below

John Kenneth Galbraith, (deceased) Harvard

Pete Seeger, Folk-singer

Cornel West, Princeton Univ.

J Nadler, US Congress, House 

Weakland, Archbishop of Milwauke
----------------------------
--- late advisers

Nobel Prize - Herbert Simon - Economics

Nobel Prize - William Vickrey - Economics - advocates "chock-full" employment

Rudolf Meidner, architect of Swedish full-employment welfare state
--------------------------
Member Organizations (In formation)
-Americans for Democratic Action     
-Unitarian-Universalist Service Committee 
----------------
Why would you ever accept ANY job shortage ... ever? Before the RW lied its way into power in the early '90's, Sweden had usually kept unemployment below 1%. We can also do that.

As Michael Moore foresees it --

"THE GOVERNMENT IS HIREING"

(Sounds good!)
-national JOBS FOR ALL coalition.. site--

http://www.njfac.org

[SammyWinstonJack]

10. +1. Invest in America/Americans isn't on the radar.

[blindpig]

11. and the WPA and CCC never existed n/t

[Peter1x9]

12. Tariffs

Unfortunately this should have been done a long time ago when the jobs STARTED going overseas. Had the the cheap labor motive for endlessly sending jobs overseas been eliminated from the beginning, we would have never got into this mess of high unemployment and college grads fighting over McJobs with the laid-off masses.

Did you ever notice that whenever anyone does a story on outsourcing, they either say the true statistics are unavailable or that nobody will release the info? IMO if anyone ever released the true statistics, the pitchforks would come out and there would be a lot of politicians and rich hanging from trees with nooses around their necks.

[bemildred]

13. Sure there is.

There is plenty of work that needs to be done. Print more money and pay people to do it. They in turn will take the money from their good new jobs and spend it, thereby pumping up the economy and the markets too. I call this the "flood up theory"

[DimplesinMI]

14. Totally Agree!!!

K/R Reply!

[tsparker78]

15. Public Works

Throughout history, great leader have known that the way to stimulate an economy and unify a people was through public works. This was true of the construction of the pyramids, and it was true of the moon landing.