JP Morgan Says Enhanced Unemployment Benefits Increase Unemployment

Posted by politicalpartypooper on March 24, 2010

Yup, that’s what JP Morgan- Chase is saying.  They’re also saying:

unemployment benefits “allow unemployed persons to become more selective in what job offer they accept, thereby raising the average duration of unemployment and increasing the unemployment rate,” the report says.

Basically, JP Morgan Chase is saying that the unemployed are lazy and are taking advantage of enhanced benefits, and that is what is causing a jobless recovery, because, you know, there are all these jobs out there that no one wants.  Uh huh.

Do you know what else causes high unemployement, dumbasses?

Banks that make bets they can’t back up, and then require the GOVERNMENT TO BAIL THEM OUT.  Yup     Ω


4 Responses to “JP Morgan Says Enhanced Unemployment Benefits Increase Unemployment”

  1. The Rotten Tomato said

    My siblings ahve several friends who are deliberately holding off on finding a job or planning to quit an existing job because of unemployment benefits.Look at Great Britain as an example.

    Why work if you have health insurance and income? The VA is the biggest source of welfare with vets getting $2,400 a month for 100% disability. And I am referring to non combat disabilities like diabetes. Anyone one disabled in combat deserves 100K a year tax free.

    • John said

      Wow, yeah, people who risk their lives so that we can have cheap oil shouldn’t be treated for diabetes for the government… they should just die or something. But the people in JP Morgan should get $9 billion in bonuses in 2009, or up to $22 billion in bonuses in 2010.

      We live in a society that idolizes wealth, and for a non religious person I have to say that the Bible (both old testament and that reformist Jesus guy) are pretty clear that idolizing wealth is bad. (And encourages bad behavior).

      I live in London and England unemployment benefits let a lot of poor and lazy people have a living without doing much – but ironically it’s actually a lot stricter than France or Italy. Of course you could err on the other side and have a lot of hard working people starving or committing crimes.

      Also, paradoxically, there are plenty of rich people in England (yeah, quite a few banks and bankers too…)

      So people who are unemployed should immediately start work anywhere for as low wages as possible, that way if Doctors are working in McDonalds for minimum wage we’ll reduce the cost of healthcare?

      I hate to break it to you but healthcare in England works like a charm – really cheap and easy to see your GP for decent care. But I guess plastic surgery probably costs more and unfortunately Doctors here only make $150,000 instead of $300,000 per year.

      One of the difficulties we face in modern times are high productivity yields because of technology and science, declining educated populations and increasing uneducated populations.

      So how do you get people to “produce”? (After all, shuffling financial papers contributes to the GDP)

      I know, let’s put people good at defining “Production” in charge and let them determine whether the “producers” (aka workers) should have overtime or retrain for a new job.

      The carrot… the stick… why is welfare/unemployment reform always about getting that number lower instead of thinking about what’s causing it and what effect it has?

      (Americans work the longest hours, why don’t we have the longest unemployment benefits too!)

  2. mikel said

    don’t think they’re not getting their piece of the action. Raising rates on overdrafts by margins that seem only cruel and it is only for the basic checking and those who were suckered into that overdraft protection. “Yes we’ll pay your overdraft for you and we will also charge you $35 for it and $10 for being negative during that time oh yeah by the way each day you are negative will cost you an additional $3 a day till you straighten it out” I don’t understand why you low-life greedy bast.rds didn’t tack on a little interest while you were standing around the cauldron. They must all cum from the “Lucky Sperm Club” with out the slightest idea that it does hurt to be kicked when your down. GM paid it back on their own not taking it from their own. What a rightfully nasty cycle they are creating for themselves. I can’t wait of course I will view this from the atm of my home town bank where the greetings include your first name and not by someone who just can’t seem to find that error they made and dispute a computer print out as if I had DR.’ed it up. WAMU WHERE ARE YOU?

  3. Jon said

    JP Morgan Chase is an abomination. I could not think of a worse bank to be stuck in, and why did the Feds decide that Chase, also just as much to blame for the economic crisis in the States, should be benefactor to the branches of the country’s largest savings and loan? I hate Chase, I avoided them my entire life, and I intend to close my accounts in July – all 4 of them. I worked for a national credit bureau, and Chase has/had one of the worst fraud incident rates of all of the major banks. I assisted in Fraud with the bureau and I got sick and tired of having to deal with their lax security and the way it hurts their customers. So, I could care less what they say. There’s bad apples everywhere, and a lot of people that truly need their benefits. A lot of them happen to be over 40, so you can see where a lot of this is coming from….

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