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overtheedge
Member since May 2012
680 commentaries - 6 followers

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No Progress for Long-Term Unemployed; Ten Reasons the Problem is Structural - Mish - Global Economic Analysis

I think you missed a couple more in favor of structural.
11. Cheap imports provided by free-trade masked the domestic manufacturing base destruction brought on by inflation.
12. We have a several decades-long conditioning to scamper towards "free" personal credit coupled with obsessive compulsive disorder var. consumerism.

Habits are structural in nature. Laws can be changed through legislation. Changing a habit takes decades of concerted labor. Any attempt to change several at one time is doomed to failure. Unless we permit the system to devolve to its natural state first and let it stabilize. However nature tends to over-shoot the parameters needed to balance the equation.

Although I gave it a 5, it would sure be nice to read about some solutions that are realistic, effective and could actually get implemented. But you already summed that up:
"Compounding the problem is a massive hoard of economic illiterates who promote inflation as the answer."

Commented 4053 days ago

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Beginning of the headline :In Long-Term Jobless Left Out of the Recovery, the Wall Street Journal notes that Despite Improving Economy, Prospects Are Bleak for Millions of Unemployed. More than four years after the recession officially ended, 11.5 million Americans are unemployed, many of them for years. Millions more have abandoned their job searches, hiding from the economic storm in school or turning to government programs for support. A growing body of economic research suggests that the longer they remain on the s... Read More

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