Spitzer in '04
May 2, 2003 12:10 PM   Subscribe

Draft Spitzer! We recently discussed the Draft Clark movement and RavinDave even chimed in with Ventura in 2004. But the Demo I think needs to get moving on a campaign is NYAG Elliot Spitzer. If the business of America is business, then Spitzer's the man with the plan and perhaps he can figure the way out of the New Depression.
posted by billsaysthis (10 comments total)
There's just one problem. You can't run for office without corporate patrons to fund your campaign.

And Spitzer ain't got none for reasons that should be obvious.
posted by BentPenguin at 12:15 PM on May 2, 2003

Yes! And bring back the Truman Committees to indict war profiteers!
posted by ahimsakid at 12:17 PM on May 2, 2003

I think Martin Sheen should run. He's doing a good job on TV already....
posted by ph00dz at 12:50 PM on May 2, 2003

Spitzer is the devil. Maybe we can overregulate Wall Street some more? An article.

Anyone who ever thought sell-side research was unbiased is a fool.

New depression? With unemployment at 6%? And GDP growing? Stop sensationalizing.
posted by trharlan at 1:06 PM on May 2, 2003

Unemployment Rate Rose to 6% in April as 48,000 Jobs Are Cut

The nation's unemployment rate rose to 6 percent in April, the Labor Department reported today, as employers cut jobs for a third straight month.

The rise in the jobless rate, from 5.8 percent in March, puts the unemployment rate at its highest level since July 1994, when it hit 6.1 percent. Given extremely sluggish economic conditions, analysts said further increases in the unemployment rate were likely through the spring and summer.

"The unemployment rate is going higher,'' said Paul L. Kasriel, director of economic research at the Northern Trust Company in Chicago. ``The economy is poking along at a rate of growth of 2 percent or less. That is not fast enough to keep the rate from rising. To merely stabilize employment, the economy needs to grow somewhere between 3 percent and 4 percent.''

Whoo hoo! tharlan's right--spread the good news. Things are looking better than ever! And don't forget to not count the people who've been out of work for over a year, too!
posted by y2karl at 2:02 PM on May 2, 2003

posted by Windopaene at 2:42 PM on May 2, 2003

Historical Unemployment Rates, by state, since 1978.
posted by dhartung at 3:34 PM on May 2, 2003

However, note that the figures above include on-call workers who may work only a day or two a week; people with part-time jobs--like MacDonalds; independent contractors; people working full time but still below the poverty level--there's your welfare reform there--and the figures do not include people who cross nearby state lines to work who lose their jobs, who are not reported as unemployed in their home states; the people who have been out of work for over a year and people who have given up looking for work. Factor in those people and the unemployment rate doubles at the least.

Scroll down to article 5 here.

Jobless and Hopeless, Many Quit the Labor Force

More than 74.5 million adults were considered outside of the labor force last month, up more than 4 million since March 2001, the Department of Labor says. They are people who fall outside the government's definitions of either employed or unemployed: they do not hold jobs, but they also have not gone out seeking work within the past month.

This group includes retirees and parents who have been home taking care of their children for years, but the surge of dropouts suggests that the jobless rate — which was 5.8 percent last month, roughly where it has been for the past year — offers an artificially sanguine picture of the labor market, many economists say.

"People use the unemployment rate as some kind of gauge of the health of the economy," said Robert H. Topel, a professor of economics at the University of Chicago. But because of the number of people now outside of the labor force, he said, "the unemployment rate does not give you the same kind of information it did in the 1970's or 1960's."

Meanwhile real median wages are going down

Jobless recovery catches up to wages

As shown in the next two graphs, these trends in slower wage growth and increased inflation have led to persistent real wage losses for the median earner over the past year. The top graph shows the real value of median weekly earnings from the first quarter of 1998 to the first quarter of 2003. Median earnings grew fairly consistently over the last years of the economic boom, and even through 2001, as the momentum of the formerly tight labor market coupled with decelerating prices kept real wages on the rise. But these favorable trends appear to have reversed last year, and real earnings fell steadily over the past four quarters.

The way the unemployment figures are reported were changed in the 1990s and
posted by y2karl at 9:13 PM on May 2, 2003

trharlan, if you can hook me, unemployed for nearly two years, up with a decent, appropriate for my skills, experience, and interests job, I'll ask Matt to delete the thread. Okay?
posted by billsaysthis at 10:25 AM on May 3, 2003

trharlan: Spitzer rocks. You need to read about the BS these Merrill Lynch analysts were getting away with -- blowing millions (billions?) of $$$ of investors' money on bad stocks because the companies in question were also clients of Merrill's banking side. Stopping fraud is "overregulation?"
posted by Artifice_Eternity at 11:23 AM on May 3, 2003

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