FIRE Economy Explosion Fallout -- Part I: Recession ends, depression begins - Eric Janszen

[cjppjc]

I looked it up




How much? In general, unemployment benefits are based on an individual's earnings in the base period. As of December, 2008, NJ benefits ranged from $85 to $560. New Jersey state unemployment benefits are subject to Federal income taxes, and you may elect to have taxes withheld from your unemployment check

[Ann]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

Anyone here who is unemployed from a well paying job, like to educate us on how much unemployment insurance they receive?

An article I found for my father who had the say question stated that unemployment insurance pays 38 cents of each salary dollar, on average. The article was several years old. Sorry. I cannot find it again, but I do recall that number. It struck me at the time as low.

[Jay]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

Appropriate penalties virtually always stop or control undesired or unwanted behavior.

I generally agree with this statement when it pertains to planned crimes, which appears to be its context. Crimes of passion are not effectively limited by penalty, and those also happen to be the crimes which most often evoke capital punishment.

[bart]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

In general, unemployment benefits are based on an individual's earnings in the base period. As of December, 2008, CA benefits ranged from $40 to $450. California state unemployment benefits are subject to Federal income taxes, and you may elect to have taxes withheld from your unemployment check.

http://swz.salary.com/salarywizard/l....html#Benefits

[bart]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

It speaks for itself:

[cjppjc]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

Anyone here who is unemployed from a well paying job, like to educate us on how much unemployment insurance they receive?

[Ann]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

Here's a link to the NYT article referenced with a little graphic included.

If the present trends continue by the time this is over people will be less concerned about affording laptops, movies, and summer camp fees...unfortunately.

Prolonged Aid to Unemployed Is Running Out
By ERIK ECKHOLM
Published: August 1, 2009

Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution...

...Unemployment insurance is now a lifeline for nine million Americans, with payments averaging just over $300 per week...

...Calls are rising for Congress to pass yet another extension this fall, possibly adding 13 more weeks of coverage in states with especially high unemployment. As of June, the national unemployment rate was 9.5 percent, reaching 15.2 percent in Michigan. Even if the recession begins to ease, economists say, jobs will remain scarce for some time to come.

“If more help is not on the way, by September a huge wave of workers will start running out of their critical extended benefits, and many will have nothing left to get by on even as work keeps getting harder to find...

The American unemployed shall never again suffer as in the 1930s.

Unemployment insurance shall always be paid.

Today we have: the printing press.

[GRG55]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

This morning on ABC's This Week, George Stephanopolous asked Geithner about extending benefits for up to 1.5 million people that will see them expire at the end of 2009:

http://blogs.abcnews.com/george/2009...-benefits.html

The New York Times reported this morning that up to 1.5 million people could lose their benefits by year’s end. When I pressed Geithner for a response, he promised the administration would “do enough to bring this economy back” and pledged to take up the issue “as we get closer to the end of this year.”

***

There is not a political chance that the Democrats don't extend the benefits, even if no Republicans go along with it.

Here's a link to the NYT article referenced with a little graphic included.

If the present trends continue by the time this is over people will be less concerned about affording laptops, movies, and summer camp fees...unfortunately.

Prolonged Aid to Unemployed Is Running Out
By ERIK ECKHOLM
Published: August 1, 2009

Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution...

...Unemployment insurance is now a lifeline for nine million Americans, with payments averaging just over $300 per week...

...Calls are rising for Congress to pass yet another extension this fall, possibly adding 13 more weeks of coverage in states with especially high unemployment. As of June, the national unemployment rate was 9.5 percent, reaching 15.2 percent in Michigan. Even if the recession begins to ease, economists say, jobs will remain scarce for some time to come.

“If more help is not on the way, by September a huge wave of workers will start running out of their critical extended benefits, and many will have nothing left to get by on even as work keeps getting harder to find...

[metalman]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

ft agrees...

US GDP

Published: July 31 2009 14:56 | Last updated: July 31 2009 19:01

Spot the supposed improvement: 0, -1.9, -3.3, -3.9. That is the progression of year-on-year percentage growth rates for the US economy over the past four quarters. Yes, but the decline is slowing, reply optimists. The sequential fall in output was only 1 per cent, according to Friday’s second-quarter data, compared with -6.4 per cent before.

But of course things feel better. The economy is on massive doses of stimulus spending and cheap money. Government consumption surged 6 per cent quarter on quarter, which took some of the sting out of the overall contraction. Low interest rates cooled the meltdown in business and residential investment. Washington has also helped in other ways. Real incomes rose slightly, thanks to increased benefit payments and lower tax receipts.

[Quincy K]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

This morning on ABC's This Week, George Stephanopolous asked Geithner about extending benefits for up to 1.5 million people that will see them expire at the end of 2009:

http://blogs.abcnews.com/george/2009...-benefits.html

The New York Times reported this morning that up to 1.5 million people could lose their benefits by year’s end. When I pressed Geithner for a response, he promised the administration would “do enough to bring this economy back” and pledged to take up the issue “as we get closer to the end of this year.”

***

There is not a political chance that the Democrats don't extend the benefits, even if no Republicans go along with it.

Why wouldn't they extend the benefits? After all, it's only paper and deficits don't matter.

[Slimprofits]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

This morning on ABC's This Week, George Stephanopolous asked Geithner about extending benefits for up to 1.5 million people that will see them expire at the end of 2009:

http://blogs.abcnews.com/george/2009...-benefits.html

The New York Times reported this morning that up to 1.5 million people could lose their benefits by year’s end. When I pressed Geithner for a response, he promised the administration would “do enough to bring this economy back” and pledged to take up the issue “as we get closer to the end of this year.”

***

There is not a political chance that the Democrats don't extend the benefits, even if no Republicans go along with it.

[flintlock]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

To my mind, this is the most profound statement of fact that I have ever seen anywhere.

I do not know who you are, but to my way of thinking, you should come out of the shadows and stand up proudly, as one of the great thinkers of our time.

I remember my teacher making us watch this documentary back in the 70s when I was a grade school kid. Kind of lame by today's standards, but even then people saw that life was getting ever more complex at an exponentially increasing rate.

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

[bart]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

I don't believe higher penalties in general act as a strong deterrent. I think that the likelihood of getting caught is the determining factor.

One of many ways to deal with that is having penalties shared by those who knew but did not speak up or do anything. Also note that I modified higher penalties with reliable and consistent.

And before anyone posts the obvious, what I'm talking about is currently quite unrealistic and "blue sky"... but also its not an absolute in all of human history or the social sciences.

[*T*]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

That's not the problem that I was attempting to address.

What I'm referring to is a quite broad issue. Selective enforcement is a portion of the whole area that also should have much higher penalties.

I don't believe higher penalties in general act as a strong deterrent. I think that the likelihood of getting caught is the determining factor.

[bart]

Re: FIRE Economy Fallout -- Part I: Recession ends, depression begins - Eric Janszen

The Apology is enlightening too, although long.


http://classics.mit.edu/Plato/apology.html