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I'd just ask you to read or listen to any of the things I linked here. They're all relatively long, and I'm not going to do a better job of summarizing them th
by blhack 6y ago
I'd just ask you to read or listen to any of the things I linked here. They're all relatively long, and I'm not going to do a better job of summarizing them than the authors/presenters.
I mean, the gist is: The American economy is incredibly resilient, and it is showing during this. Yes it's true that jobless claims are increasing, but the expectation is that they will peak next week. While we won't be an overall growth year, the expectation is to close out the year at levels comparable to those in 2010.
In addition to that, the US is just incredibly resilient when compared to the rest of the world. The world still trades using our dollars, they still want to buy our bonds, they still want to invest in our companies. All of this stuff ends up benefiting the US job seeker, and the American family because it means that there are jobs, stability, and the ability to pass monetary policy that protects them in times of crisis.
If you want specific details, there is hours of content that I linked that will explain explicitly why. \\
- ianleeclark 6y ago> they still want to invest in our companies. Who wouldn't when they can't fail? > All of this stuff ends up benefiting the US job seeker, and the American family Since the last downturn, roughly half of the jobs created have been approximately gig-economy. An expansion of the precariat isn't helping me, it's not helping my parents, and it's not helping a lot of other Americans. It's actively immiserating people. But, hey, the number went up, so we must be resilient. > because it means that there are jobs Unless you're part of the 12% and growing portion of the country that are out of work today, and the 42% of jobs that won't return after. > stability Unless you're part of the gig economy workforce or you live in a right-to-work state. So, you know, everyone. > and the ability to pass monetary policy that protects them in times of crisis. Nothing protects me like a small business loan that I wouldn't ever qualify for and virtual money printers running full speed. This is such a deeply ideological take, so i guess it seems in-line with linking to foreignpolicy, but the gist of it is: the American economy is resilient because it has been resilient in the past and we can make this claim by removing the current historical context of the moment.
- blhack 6y ago>Who wouldn't when they can't fail? Yes, exactly. >Since the last downturn, roughly half of the jobs created have been approximately gig-economy. Can you source this? >This is such a deeply ideological take, so i guess it seems in-line with linking to foreignpolicy What's wrong with foreign policy?