Fat Lady Still Seeks Job (And Republi-CONs Couldn't Care Less)

UPDATE III:  The "president of the Federal Reserve Bank of Minneapolis, was once a leading opponent of the Federal Reserve’s efforts to stimulate the economy" finally admits that those invisible Republi-CON bond vigilantes were just his wild imagination, but "that persistent unemployment has created 'a time of testing' for the Fed comparable to the rise of inflation in the late 1970s and early 1980s."

So much for the Republi-con myth of expansionary austerity.

Read the New York Times, A Fed Policy Maker, Changing His Mind, Urges More Stimulus.

UPDATE II:  "[T]he labor market has experienced neither terrific gains nor terrific crashes in the last three years. Instead, we've suffered the Curse of Goldilocks: Just fine enough to keep pressure from building in Washington for another round of intervention. . .

It makes you wonder: What kind of recovery might we have today if Washington weren't so enthusiastically trying to kill it?"

Read The Atlantic, The Goldilocks Curse: How America's Job Creation Story Got So Boring.

The link is to The Atlantic, The Greatest Risk to the U.S. Economy Is Still the People in Charge of It, which notes that "[t[he recession gave us a lost decade. Congress added a lost year. The budget wars since 2010 have cost us 12 months in job creation." 

UPDATE:  "[I]nfluential people need to stop using the future as an excuse for inaction. The clear and present danger is mass unemployment, and we should deal with it, now."

Read The New York Times, Fight the Future.  

As I said in February 2009, tax cuts are not the answer, and again in October 2010, this downturn won't be over 'til the fat lady gets a job.  And in June 2011 and Jan-Feb 2012, as well as other times -- it's jobs stupid.

But since Obama first won election, Republi-cons have been using best efforts to tank the economy and keep unemployment high.

So "just a reminder that the U.S. labor market is still in rough shape — despite the considerable improvement in recent years."  Read the Washington Post, The U.S. job market is still worse than at any point during the last downturn.

The article includes this graph: