February 3, 2012

Unemployment in America is very bad and unemployment figures are understated because of the amount of capable workers that are counted as dropping out of the labor force (probably because they couldn’t find a job).  The graphs and quote below is from Zerohedge:

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

February 1, 2012
Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10%

What do the NAR, Consumer Confidence and CBO forecasts have in common? If you said, “they are all completely worthless” you are absolutely correct. Alas, the market needs to “trade” off numbers, which is why the just released CBO numbers apparently are important… And the fact that the CBO predicted negative $2.5 trillion in net debt by 2011 back in 2011 is largely ignored. Anyway, here are some of the highlights.

  • 2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6 - yes, we are cackling like mad too…
  • Unemployment to remain above 8% in 2012 and 2013; will be around 7% by end of 2015; to drop to 5.25% by end of 2022.
    • This forecast is utterly idiotic and is completely unattainable unless the US workforce drops to all time lows and the US economy generates 300,000 jobs a month for 10 years
  • Needless to say, CBO assumes the best of all worlds in this meaningless forecast
  • But here is the kicker: "Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent" translation: CBO just admitted that the BLS numbers are bogus and real unemployment is 10%. Thank you

June 21, 2011

The Drudge Report Tuesday morning cheekily linked to an official White House transcript of President Obama’s remarks from a fundraiser the night before, which noted the audience laughing at his jobs claims. “Over the last 15 months we’ve created over 2.1 million private sector jobs. (Laughter.)” said Obama per the transcript, emailed to reporters Monday night at around 11:30 p.m.
http://politi.co/mnWuVz

There’s going to be one less job tomorrow when the stenographer gets axed for writing the truth about how the crowd laughed at Obama’s bogus job creation claims.

The Drudge Report Tuesday morning cheekily linked to an official White House transcript of President Obama’s remarks from a fundraiser the night before, which noted the audience laughing at his jobs claims.

“Over the last 15 months we’ve created over 2.1 million private sector jobs. (Laughter.)” said Obama per the transcript, emailed to reporters Monday night at around 11:30 p.m.

http://politi.co/mnWuVz

There’s going to be one less job tomorrow when the stenographer gets axed for writing the truth about how the crowd laughed at Obama’s bogus job creation claims.

June 18, 2011
Did the Stimulus bill do anything other than add to the U.S. national debt?

Did the Stimulus bill do anything other than add to the U.S. national debt?

(Source: antigovernmentextremist)

February 20, 2011
Trends in education and marriage

Trends in education and marriage