Comments on: Spiraling Prices & Stagnant Wages Batter The American Dream http://wonkroom.thinkprogress.org/2008/08/14/logan-american-dream/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: TreyW http://wonkroom.thinkprogress.org/2008/08/14/logan-american-dream/comment-page-1/#comment-57447 TreyW Tue, 17 Feb 2009 10:18:04 +0000 http://thinkprogress.org/wonkroom/2008/08/14/logan-american-dream/#comment-57447 The American labor market is remarkably dynamic, even during a downturn. Each month, millions of new jobs are created as entrepreneurs start new companies and existing firms hire new workers. Also, millions of jobs also disappear as uncompetitive firms go out of business and existing companies let workers go. The recession has already driven up the rate of unemployment and the number of layoffs, but it hasn't negatively affected payday loans. Even though the number of people that lose their jobs due to massive job cuts, the demand for payday loans and advance lending has actually remained the same – in fact, it has gone up. It isn't really a consolation; the unemployment rate is climbing worldwide, and climbing to levels that are the highest they’ve been since before World War 2. That isn't a problem any amount of <a href="http://personalmoneystore.com/moneyblog/2009/02/03/payday-loans-unemployment/ " rel="nofollow">payday loans</a> are going to fix. The American labor market is remarkably dynamic, even during a downturn. Each month, millions of new jobs are created as entrepreneurs start new companies and existing firms hire new workers. Also, millions of jobs also disappear as uncompetitive firms go out of business and existing companies let workers go. The recession has already driven up the rate of unemployment and the number of layoffs, but it hasn’t negatively affected payday loans. Even though the number of people that lose their jobs due to massive job cuts, the demand for payday loans and advance lending has actually remained the same – in fact, it has gone up. It isn’t really a consolation; the unemployment rate is climbing worldwide, and climbing to levels that are the highest they’ve been since before World War 2. That isn’t a problem any amount of payday loans are going to fix.

]]> By: swandiver http://wonkroom.thinkprogress.org/2008/08/14/logan-american-dream/comment-page-1/#comment-3908 swandiver Fri, 09 Jan 2009 17:24:17 +0000 http://thinkprogress.org/wonkroom/2008/08/14/logan-american-dream/#comment-3908 Since I'm writing this comment after the election, I can say that while heard talk of the economy, it always focused on the middle-class. Not once were the needs of the working poor identified or solutions offered. Since I’m writing this comment after the election, I can say that while heard talk of the economy, it always focused on the middle-class. Not once were the needs of the working poor identified or solutions offered.

]]> By: fromthevalleyofdeath http://wonkroom.thinkprogress.org/2008/08/14/logan-american-dream/comment-page-1/#comment-1908 fromthevalleyofdeath Thu, 14 Aug 2008 21:19:21 +0000 http://thinkprogress.org/wonkroom/2008/08/14/logan-american-dream/#comment-1908 I think the most criminal aspect of all of this is that inflation is grossly, and intentionally, some would argue, understated - mainly because of the Fed printing dollars. So, the talking heads stand up and say "inflation ain't that bad" but they never discuss the manipulation of the statistics. Here's a great piece on the issue: http://www.chrismartenson.com/fuzzy_numbers I think the most criminal aspect of all of this is that inflation is grossly, and intentionally, some would argue, understated – mainly because of the Fed printing dollars. So, the talking heads stand up and say “inflation ain’t that bad” but they never discuss the manipulation of the statistics. Here’s a great piece on the issue:

http://www.chrismartenson.com/fuzzy_numbers

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