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May 04 2012

Fed- We Fucking Give Up!

Well, then do us all a favor and quit you incompetent assholes!

Pre-recession unemployment rate is out of reach

A new report authored by a Federal Reserve president says unemployment cannot fall to pre-recession levels without an inflationary impact. So get used to high unemployment.

By Nin-Hai Tseng, Fortune

May 4, 2012: 11:50 AM ET

On Thursday, John Williams, president of the Federal Reserve Bank of San Francisco, suggested that perhaps Americans should lower their expectations given the challenges workers faces. A research note co-authored by Williams estimated that the lowest level of joblessness that can be reached without leading to inflation could be 6.5%. Before the recession, the unemployment rate was generally at around 5%.



In early 2009, eligibility for unemployment benefits was extended from 26 weeks to up to 99 weeks.

While such benefits reduce hardships for the unemployed, they might also “reduce the incentive of the unemployed to seek and accept less desirable jobs,” according to the report.



If workers are latching on to any hope that the economy has turned a corner, perhaps they’d be more realistic by hoping for a little less.

Don’t let the door hit you, you lazy useless gits.

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