09.12.09

In case that latest saved-and/or-created-jobs figure had you arching your eyebrow . . .

Posted in Economics at 12:54 am by Administrator

 . . . it’s because you sensed that this was the actual truth .

  • Share/Bookmark

11 Comments »

  1. Mr. Dings said,

    September 12, 2009 at 12:49 pm

    It’s another employer’s market out there, judging from the degradation of pay scales in my line of work (catastrophe adjusting). There has been a huge wave of hiring freezes, layoffs, continuing consolidation and the like in the insurance industry which is intimately linked to the financial services industry. It began (again) in earnest after 9/11/01 when the underlying accounting fraud engaged in by so many of the big players was so “forcefully” revealed and it continues to this day. It did not help that more fraud and mismanagement led to the dark days of last summer. Do no boo hoo, but don’t try to tell me the Repubbie alternative leads to some economic Shangri-La either.

  2. Bentnotesmanhisself said,

    September 12, 2009 at 1:25 pm

    How do accounting frauds by particular companies translate into the current unemployment rate in the insurance industry? Can you clarify the connection?

  3. Bentnotesmanhisself said,

    September 12, 2009 at 1:28 pm

    Shangi-La – or Heaven or Nirvana or any other name for a perfect stae of existence – is not possible in this realm. A system that maximizes everyone’s freedom, consistent with basic societal order, is.

  4. Mr. Dings said,

    September 12, 2009 at 1:33 pm

    Spoutin’ your party line. Enron and World Con failures led to investment busts, get it, oh freedom lover? How do insurers make $$? They invest the premiums.

  5. Bentnotesmanhisself said,

    September 12, 2009 at 1:36 pm

    Were not the perpetrators at Enron and World Con investigated, arrested, prosecuted and convicted according to existing laws covering what they did?
    Sounds like things worked as they were supposed to.

  6. Mr. Dings said,

    September 12, 2009 at 4:57 pm

    Until the next go round, where it was so bad for those deemed too large to fail. This is another economic recovery on the backs of the American workers. I talked to someone yesterday who was placed for a job interview by an outsourcer in India who got her resume off of Monster.com. She went to the interview, but the American recruiter who placed her on the list first got the credit. Whew. Oh, yeah, things sure worked as they were supposed to. AIG? GM? Bear Sterns? But, all praise to American ingenuity. It brought us slavery, and now it brings us another form–offshoring and robotics. Of course it’s the way it is, and, therefore the way it is supposed to be.

  7. Bentnotesmanhisself said,

    September 12, 2009 at 5:36 pm

    Well, did you think any firm that was bailed out was too big to fail? I didn’t. I thought the bailouts were a distortion of the free market.

    I’m not sure what yours story about the recruiters illustrates.

    How were things supposed to work out? Can any of us predict the future?

    Slavery was around a long time before America. You’re indulging in non-sequitors now.

    Robotics are great. They reduce the cost of manufacturing.

    Ditto off-shoring. Of course, it might be cost-effective to bring currently outsourced jobs back to America if the tax climate were favorable to it.

  8. Bentnotesmanhisself said,

    September 12, 2009 at 5:38 pm

    If you brought up slavery as some kind of indictment of the capitalist focus on efficiency, consider that the more-industrialized North beat the agrarian Confederacy in the war that ended slavery, and soon cotton farming in the South was mechanized.

  9. Bentnotesmanhisself said,

    September 12, 2009 at 5:39 pm

    Do you wish the American character didn’t involve ingenuity?

  10. Mr. Dings said,

    September 13, 2009 at 5:06 am

    I dunno about how any of us can predict the future, but we sure do a lot of prognosticating, lotsa skies falling here in this forum. If you review your post prior to mine you are the one who proclaims that things worked as they were supposed to. Evidently you mean “after the fact.” And, now, why would I wish the American character didn’t involve ingenuity? I happen to believe that is a human characteristic and was held in abundance by, oh, the Romans, Muslims, Chinese, to name a few that came before us. Don’t get too cocky, my fellow American. Your Repubbie attitudes were responsible for what we got now. We were sick to disgust with Cheney and Co. Blame everything but greed, even call it patriotism to offshore. The only “entity” with lower approval ratings than Congress is American business. Do either approach Bush’s low of 20%? http://www.cbsnews.com/stories/2009/01/16/opinion/polls/main4728399.shtml

  11. Bentnotesmanhisself said,

    September 13, 2009 at 1:30 pm

    Sounds to me like you were disparaging American ingenuity by using slavery as an example of it.
    Things did indeed work as they were supposed to in the cases of the companies you cited. People commited crimes and were brought to justice. What else would you have anybody do?

Leave a Comment