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Getbig Main Boards => Gossip & Opinions => Topic started by: arce1988 on April 05, 2013, 02:15:57 PM
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http://www.marketwatch.com/story/unhappy-day-reactions-to-march-jobs-report-2013-04-05
• “The modest 88,000 increase in non-farm payrolls in March is further evidence that the U.S. economy is undergoing another spring slowdown, albeit from a pretty rapid pace of growth in the first quarter.” — Paul Ashworth, chief U.S. economist, Capital Economics.
• “Today will be another unhappy day for a recently unhappy equity market, and a positive for bonds, as investors adjust to a slowing pace for U.S. growth.” — Avery Shenfeld, CIBC WM Economics
• “This jobs number probably isn’t the fault of the sequester. But it’s evidence that the economy can’t take the sequester right now.” — Ezra Klein, Washington Post writer, @ezraklein
• “This is a punch to the gut. This is not a good number. And I think now you’re going to interestingly start seeing a lot of discussion about maybe the sequester’s a bigger deal than people thought it was.” — Austan Goolsbee, former chairman of President Barack Obama’s Council of Economic Advisers, in an interview on CNBC.
• “It is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look at employment since the beginning of sequestration. While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a headwind in the months to come, and will cut key investments in the Nation’s future competitiveness.” — Alan Krueger, chairman of President Obama’s Council of Economic Advisers.
• “The president’s policies continue to make it harder for Americans to find work. Hundreds of thousands fled the workforce last month and unemployment remains far above what the Obama administration promised when it enacted its ‘stimulus’ spending plan.” — House Speaker John Boehner.
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“This is a punch to the gut. This is NOT a good number. And I think now you’re going to interestingly start seeing a LOT of discussion about maybe the sequester’s a bigger deal than people thought it was.” — Austan Goolsbee, Former Chairman of President Barack Obama’s Council of Economic Advisers, in an interview on CNBC.
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“This is a punch to the gut. This is NOT a good number. And I think now you’re going to interestingly start seeing a LOT of discussion about maybe the sequester’s a bigger deal than people thought it was.” — Austan Goolsbee, Former Chairman of President Barack Obama’s Council of Economic Advisers, in an interview on CNBC.
Look at the trend before the sequester to see that it's not really that big of a deal and people will just try to pin the shitty growth on it instead of actually coming up with real solutions to fix our problems.
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people will just try to pin the shitty growth on it instead of actually coming up with real solutions to fix our problems.
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BOOM!
Just saying, even Obama staff, are saying things are fucked.
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people will just try to pin the shitty growth on it instead of actually coming up with real solutions to fix our problems.
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BOOM!
Just saying, even Obama staff, are saying things are fucked.
The Obama staff didn't waste anytime on passing the buck.
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The Obama staff didn't waste anytime on passing the buck.
(http://www.newyorker.com/images/2008/11/03/cartoons/081103_luckovitch_1_r17884B_p465.gif)
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(http://www.newyorker.com/images/2008/11/03/cartoons/081103_luckovitch_1_r17884B_p465.gif)
The Obamaquester and tax hike in the pay roll, Fed Printing, ObamaCare, et al are taking hold.
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Overpopulation, too many people, wether they are overdiplomed or unskilled, less and less jobs, bad economy crashing businesses, industries moved to asia... not going to end well, we are at the end of a cycle and we need to operate an artificial selection in our own specie, namely; famines, ethnic and international wars.
Buy gold, silver, ammo and farmland!
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Uber just made one of the best posts ever. Very very smart person.
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A high priced, jobless and grim future is waiting.
There will always be loopholes but but overall it's a turdy road which few will enjoy to travel.
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Probably not very strong on upright rows.
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From what I see, and I'm far from an Obama apologist, but I see this as a correction of sorts. The people who got fat during the heyday and didn save for the drought. I am busier than I've ever been and am growing exponentially every year. I play it smart and am always hiring. People are just lazy shitbags and don't want to work.
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so wait, and now what will ppl do,blame the government for that?
is really the govt to blame for this?
if yes, which one?republican of back in the day or the current one?
wouldnt the ones to blame be the most rich companies whoms enablers generaly are the conservatives?
or maybe, that both parties amass debt like crazy?just for different things.
who outsourced many jobs ,who employs foreign ppl for small wages?
Lets just say the left will blame anyone else but themselves. They'll blame the right, their mothers, their kids, your kids, my kids, business owners...ANYONE but themselves.
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What company do you own Iron?
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spain is almost 60% with out jobs shit is fucked
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What company do you own Iron?
I work in construction, private and government sector. I am a subcontractor that does work that is pretty specialized, but it's not rocket science what I do. There is manual labor involved, but I do the bidding and PM. We work all over the east coast and southeast.
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are you allowed to take swiss citizens for workers?ive always wanted to try the usa for a couple months :D
As long as you can work legally, you're good. I usually hire seasonal labor, college kids seem to work the best, and use temp services such as Aerotek to fill in. I pay a premium for it though, with Hazwoper certified guys costin me $30hr when I need them.
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Congrats Iron
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Overpopulation, too many people, wether they are overdiplomed or unskilled, less and less jobs, bad economy crashing businesses, industries moved to asia... not going to end well, we are at the end of a cycle and we need to operate an artificial selection in our own specie, namely; famines, ethnic and international wars.
Buy gold, silver, ammo and farmland!
The truth right there.
310 million people in the USA. Not all will have high paying jobs. That's just how it is.
Country folks will mostly be ok. We are used to being self-sufficient. It's the city folk who will really suffer. Blue collar city folks in america are already in a shitty situation actually.
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they got no money for proper schools, no joke, their kids go to school in containers.
greece, portugal and cyprus are also entirely fucked up.
next in line are slovenia and maybe some bigger nation.
haha, the european commision says slovenia is safe, but i know many ppl from there, and they all say the same,theres no money and even if you work, you simply dont get paid.
and the eu is about to allow croatia into the union,haha.croatia is a total joke, economy wise.
and serbia is another joining candidate,in serbia the ppl dont even have money to sip a coffee on the boulevards
are you allowed to take swiss citizens for workers?ive always wanted to try the usa for a couple months :D
I got friends in Spain it's very bad there now.
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if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
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in other disturbing news it looks like the filthy chinks have a new flu outbreak...
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in other disturbing news it looks like the filthy chinks have a new flu outbreak...
You sure are a weird mother fucker. In real life over you are batshit crazy. It's all good though. This world drives many people crazy..
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haha didn't even watch it yet. dude at the gym told me about guillotine in fema camps
Seems like North Korea is involved.
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H7N9 one in three are dying from it
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Just extend Zero % interest rates and do QE rounds 4 -236 and we will be back on our feet in no time!
Also, keep pumping money into the financial markets, screw 85 billion per month make it 900 billion.
Why the fuck not, right?
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I laugh at QE! ;D
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There is overwhelming evidence that quantitative easing does NOT work to strengthen the economy.
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http://www.getbig.com/boards/index.php?topic=465989.0
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You sure are a weird mother fucker. In real life over you are batshit crazy. It's all good though. This world drives many people crazy..
huh? it s a fact, there s new flu pandemic starting in china, just check the news retard.
If some events are planned, others arent, remember the tsunamis in japan? Remember the japansese politics and tepco leaders? they were overwhelmed, they didnt have a clue what to do, and so far we dont even know if the whole thing is even under control.
Well , mix human made mistakes with simultaneous natural disasters and you obtain major world population decrease. Funny how nature regulates itself one way or another. It happened in the past. And dont think the world is at peace; all countries are at war with each others even in so called peaceful times, all it takes is economic collapse for the strongest to suddenly want to fix that old unsettled argument with a neighbor that has been recently weakened enough to not defend himself as well as he could before. When the economy works people are focused on earning their lives and going back home to watch tv, but when all of this is in jeopardy, there s a need to find ennemies and solutions to your problems whatever the cost.
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That new virus is killing one in three. Fuck that.
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ZH is a good site
if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
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if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
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Great post.
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if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
http://www.zerohedge.com/
@ZeroHedge on twitter. Solid and scary stuff.
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if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
^
Great post.
I agree Great Post...and it is the Truth.
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reminds me of this...
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Getting jobs these days if you are inexperienced is almost impossible unless you have a contact in a company who can get you an interview. I've used LinkedIn to apply to jobs and it says how many others have also applied. A lot of the time, the number is close to 200 applicants. Like who the fuck will read 200 resumes? The lack of jobs in this economy is a very real problem
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Getting jobs these days if you are inexperienced is almost impossible unless you have a contact in a company who can get you an interview. I've used LinkedIn to apply to jobs and it says how many others have also applied. A lot of the time, the number is close to 200 applicants. Like who the fuck will read 200 resumes? The lack of jobs in this economy is a very real problem
Yes in Europe it´s really bad.. it´s now getting to be Global.. it´s time for an uprising. I am no Communist but i am Left orientated and was in office here as a politician. I hate the way these rich people are squeezing the poor more and more...enough is enough !!
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if you read zero hedge daily as i do, it is obvious the global crash is planned by elites from the whole world, they just want it to happen during summer so it will be easier for world populations to cope; one thing is sure tho, next winter is going to be tough for a lot lot of people on earth. Fact is the whole thing is scripted. Pretty tough to tell if japan, italy, spain or the US will colapse first but they ve all been out of order for quite a while. Markets are completley disconected from reality and artificially rated, basically alls numbers are manipulated, for the simple reason they are going to decide when truth will be revealed. In cyprus and everywhere in europe elites were able to get their money in safety weeks before it happened, simply because it is completely planned from the getgo. The same will apply everywhere, asia, north america, all rich people are carefully puting their assets in safety at the moment, they dont want to scare the sheeple, and once they re protected enough they ll stop manipulating numbers and most people worldwide will be ruined in days. There are no bullshit economists everywhere in europe telling the crowds be very careful, the elites are soon going to rape you raw. Most mainstream medias, journalists etc are hand in hand with both politics and industrials, so they keep saying everything will be allright, but it's when they re saying that you know you can start to panick, because it's exactly the opposite that s going to happen. They dont care much, they re all rich and safe. Those are middle and lower classes problems , not theirs; they ve been richer they ll still be richer, and will have security and military forces working for them.
They decided to start slowly with cyprus a little island with small population, to prepare psychologically the rest of europe and the world. All of this is perfectly planned. In cyprus they didnt revolt in the first days, they were shocked by the event, but it's weeks later people start to realize and to get angry. At this moment elites are already fleeing in their private jets to some hot sunny spot on earth with their millions or billions.
According to psychologists, cynicism is a combination of ignorance and fear communicated through arrogance. Yep, fear, check, arrogance, check, yeah... sounds about right. You have all these traits uberdud.
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his post is spot on.. it´s happening NOW
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not enough demand
jobs go down
demand comes from the employer and the consumer
the demand is mostly always high from the consumer
the demand is low from the employer because taxes are too high. every employee you hire is more paperwork and phone calls and conversations that you dont feel like partaking in, all in order to give an employee work to do
so do away with minimum wage
or lower taxes
i say do away with minimum wage
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Only basic local services and jobs related to food clothes and basic needs goods production will survive; but places are and will be expensive to obtain; lot of old people with no pensions and cut from their families -when they built any- are going to feel very sorry for themselves. Most people working behind a desk and pushing paper are going to have a hard time adapting because eventually they ll lose their jobs too. Dont wait for an official warning, it's slowly degrading by the day and everyone keeps pretending he/she is not concerned, that's what our societies based on appearances taught us to do for decades in such situations. Extremely egocentrical, egoistical atomized selfish individuals are not going to like it when they lose their confort, more than populations who are used to live in poverty.
Never ever has the world population been so high, so nobody knows how mass and instantanous deep poverty striking everyone is going to turn out. But it's not hard to figure we re going to go back to a feodal system worlwide for quite a while before a new equilibrium is found. Basically poor people will kill each others with the help of rich people until a smaller more maneageable world population is reached, then it will be a global standardization of living conditions for everyone.
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Listen to Uber
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Listen to Uber
Yeah, listen to me with your eyes!
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According to psychologists, cynicism is a combination of ignorance and fear communicated through arrogance. Yep, fear, check, arrogance, check, yeah... sounds about right. You have all these traits uberdud.
according to psychologists, everyone is crazy but themselves anyway.
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It's probably better with fewer jobs. There's no need for the secretary making $12/hr to get out on the freeway driving her husband's $80k Range Rover to work. What's the point? Stay home and learn how to cook.
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every employee you hire is more paperwork
PAYG registration as a trading entity.
Per individual worker: Name, TFN, DOB, DL# (if applicable), address, and bank account details, superannuation account details, and medical certification of fitness for work (seriously & at your cost) - prior to start. Accrued sick leave, reported weekly to employee. Accrued holiday leave, reported weekly to employee. Long service leave 'loading' reported and payed quarterly. Superannuation to be payed quarterly. Worker's compensation insurance payments as per payment schedule. Worker's compensation insurance wages reporting, annually. PAYG wages withholding to be reported and payed quarterly along with quarterly GST reporting. PAYG statement to be issued annually to workers.
The safety assurance list is even more onerous and is government mandated at the behest of insurance companies seeking pay-when-we-feel-like-it legislation. Fail to fully comply, and I mean fucking fully, over the course of years of practice and record keeping, and the corporate veil is negated in the event of an injury, actual or spurious. Super general, general, monthly, weekly, job specific, daily, and "Take 5" paperwork all to be completed and kept on file, reported, etc. One missing piece of paper, one squeaky bolt on a ladder, whatever, and kiss everything you have adios in the event of a worker's compensation claim. Which you should just go ahead and do because somewhere in this impossible scheme you will, however small, have failed to be compliant. And if you haven't then dig the new catchphrase: "Every accident is preventable." So why am I paying you, worker's comp insurance company? Oh yeah, I have to under penalty of law. However much you say and whatever impossible demands you want to impose.
And there's more. Way more. Advertising, interviewing & vetting (they are all idiots! why am I here.) Training costs - oh boy. Lost costs from untrainables. Seeming trainables who can't achieve breakeven. People you can't just fire because you can't fire anyone, by law, without 3 written warnings. No shows. Wednesday shows when they're broke and need a quick advance. Drug addicts. Alcoholics. Why would you tell the client he's a dick because you were late? Glad I factor for bad debt. People who keep fucking things up so you work back to fix their work. Apprenticeship schemes (not even). Tools of trade & associated costs. Idiots damaging tools. Idiots losing tools. Thieves pawning tools. Vehicles (purchase, maintenance, idiots, & associated costs). Insurances on tools of trade and vehicles. There is no end.
By the time I train a trainable man and put him in a company van with required tools to go to your house to work for 30 minutes, I have to bill you like $500 just to break even. And the quality of his work is going to be shit compared to what I will do in 10 minutes for a lousy $200, and you're wife is gonna be horny later on.
If I want to pay you $50 an hour to do something you're capable of doing, and you want to do it for $50 an hour, well guess what? We can't legally do it. You'd think we could but there's all these assholes who have interposed themselves between you and I, so if we want to strike a simple agreement then we need the ok of every single one of them. And that's gonna cost us. I have to give a shitload of percentages to private companies with legislative clout and jump through their hoops (*penalty of law*), and so do you. Sorry to report that they have made you unemployable by virtue of costs and liabilities. I now need you billable at $200 an hour in order to pay you $50 an hour, but if your work is billable at $200 then you're not going to be here long at $50.
And that's how I became a communist who hates everyone.
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Meanwhile, the rich man is having tons of fun... preparing the next war.
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Every post by Uber in this thread is amazing
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according to psychologists, everyone is crazy but themselves anyway.
Most people that go into psychiatry/psychology are trying to find out what's wrong with them, I once saw a shrink trying to diagnose himself wit the DSM3R and then self medicate. One of the highest suicide rates..... And usually pompous aholes.
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“This is a punch to the gut. This is NOT a good number. And I think now you’re going to interestingly start seeing a LOT of discussion about maybe the sequester’s a bigger deal than people thought it was.” — Austan Goolsbee, Former Chairman of President Barack Obama’s Council of Economic Advisers, in an interview on CNBC.
This guy's a complete idiot, or simply a shill, if he's equating the sequester with the economy's problems. The sequester is a joke, resulting in zero cuts, only reducing the growth of spending by a fraction.
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The USA is definitely becoming a shit place to be for the poor. Rags to riches has become more and more impossible.
Kids who at born into poor families in the USA are gonna be doomed by their fate. The economist have engineered it to be that way to purposely create an underclass of wage slaves, and people to feed the prison industrial complex.
It's not my problem though. I am doing great. Tonight I'm gonna fuck a hot 19 year old fat chick with a huge round ass in my home with is fully paid for. I am ballin hard.
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readin ubermans posts is depressing :(
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Goodwill is hiring.
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The USA is definitely becoming a shit place to be for the poor. Rags to riches has become more and more impossible.
Kids who at born into poor families in the USA are gonna be doomed by their fate. The economist have engineered it to be that way to purposely create an underclass of wage slaves, and people to feed the prison industrial complex.
It's not my problem though. I am doing great. Tonight I'm gonna fuck a hot 19 year old fat chick with a huge round ass in my home with is fully paid for. I am ballin hard.
This actually made me chuckle. :D
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Uber is uber smart
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America needs WW3 & reduction of population, damn where is another Hitler when you need him >:(
or massive chinese/indian population will colonize other countries.
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It us not a good situation no matter how you look at it. I wonder what they intend to do with billions of worthless dollars if the whole thing collapses? Only property, commodoties, a good aim and a vicious sense of survival will be worth much.
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http://news.efinancialcareers.com/us-en/153791/25000-jobs-vanish-from-wall-street-and-theyre-not-coming-back/?utm_campaign=JS_US_EDI_WEEKLY%26utm_source=AMS_CA_ENG&utm_medium=EM_NW&om_rid=Nsp1Ii&om_mid=_BSaCn5B81-wK6c
25,000 jobs vanish from Wall Street, and they’re not coming back
Despite a sluggish third quarter, Wall Street has all but cemented its comeback from the economic crisis. Profits are up, stock prices are soaring and big banks are better capitalized than they’ve ever been. There’s really only one thing missing: the jobs.
Private sector employment in New York City has been robust during the recovery; roughly 335,000 jobs have been added, more than twice the number of jobs that were lost during the recession, according to a new report from the Office of the New York State Comptroller. Unfortunately, Wall Street has failed to get in on all the fun. The OSC estimates that the securities industry in New York City boasts 25,600 fewer jobs than it did pre-crisis, a massive 14% dip.
Looking deeper into the numbers, the news is worse than it sounds. Job growth was actually rather strong during the first two years of the recovery, with the industry adding nearly 10,000 jobs between January 2010 and August 2011. Since then, banks have been doing nothing but cutting jobs as they have begun to streamline their organizations.
During previous recoveries, the securities industry accounted for 11% of job gains. This time around, less than 1% of new private sector jobs can be attributed to Wall Street. The only real bumps in employment have been in non-revenue generating roles like risk management and compliance. Take those government-mandated jobs away, and the situation is even uglier.
When compared to the balance sheets of big banks, the numbers paint a rather stark picture. Sadly, Wall Street is doing better without you. It seems the current hiring landscape has little to do with the economy. Banks — with a little help from Washington — have made a choice to be smaller, and it’s paying off. The Comptroller’s office expects New York’s securities industry to continue to contract as it streamlines itself further.
It’s not all bleak, though. Those who remain employed are still taking home a hefty paycheck. The average Wall Street salary in 2012 was $360,700 in 2012, or 5.2 times that of the average New Yorker. Not half bad.
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Uber just made one of the best posts ever. Very very smart person.
It doesn't take a genius to realize that printing a boatload of money to pay off debt, over a long period of time with no way to ever pay any of it back won't end up well for Americans. There is no plan B. They are just buying time, letting the rich prepare for what is to come.
Uberman reminds me a lot of a bitter guy at work. Smart in social science. Has a good understanding of people from observation but can't really fit in. Naturally cynical, tends to be very negative, bitter, moody at times, way underemployed with few friends. Won't be given a good job, will always be in the trenches and bitter. Some guys will never get it, and Uberman is one of them. I bet Uberman is enjoying this economic crash and it is taking down others around him to his levels. Misery loves company.
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H7N9 one in three are dying from it
sounds like someone is testing something.
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http://www.marketwatch.com/story/unhappy-day-reactions-to-march-jobs-report-2013-04-05
• “The modest 88,000 increase in non-farm payrolls in March is further evidence that the U.S. economy is undergoing another spring slowdown, albeit from a pretty rapid pace of growth in the first quarter.” — Paul Ashworth, chief U.S. economist, Capital Economics.
• “Today will be another unhappy day for a recently unhappy equity market, and a positive for bonds, as investors adjust to a slowing pace for U.S. growth.” — Avery Shenfeld, CIBC WM Economics
• “This jobs number probably isn’t the fault of the sequester. But it’s evidence that the economy can’t take the sequester right now.” — Ezra Klein, Washington Post writer, @ezraklein
• “This is a punch to the gut. This is not a good number. And I think now you’re going to interestingly start seeing a lot of discussion about maybe the sequester’s a bigger deal than people thought it was.” — Austan Goolsbee, former chairman of President Barack Obama’s Council of Economic Advisers, in an interview on CNBC.
• “It is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look at employment since the beginning of sequestration. While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a headwind in the months to come, and will cut key investments in the Nation’s future competitiveness.” — Alan Krueger, chairman of President Obama’s Council of Economic Advisers.
• “The president’s policies continue to make it harder for Americans to find work. Hundreds of thousands fled the workforce last month and unemployment remains far above what the Obama administration promised when it enacted its ‘stimulus’ spending plan.” — House Speaker John Boehner.
The first shot was fired on Monday. Teradata, which sells analytics tools for Big Data, warned that quarterly revenues plunged 21% in Asia and 19% in the Middle East and Africa. Wednesday evening, it was IBM’s turn to confess that its hardware sales in China had simply collapsed. Every word was colored by Edward Snowden’s revelations about the NSA’s hand-in-glove collaboration with American tech companies, from startups to mastodons like IBM.
But the fiasco was tucked away under the lesser debacle of IBM’s overall revenues, which fell 4.1% from prior year, the sixth straight quarter of declines in a row. Software revenue inched up 1%, service revenue skidded 3%. At the hardware unit, Systems and Technology, revenue plunged 17%. Within that, sales of UNIX and Linux Power System servers plummeted a dizzying 38%. Governmental and corporate IT departments had just about stopped buying these machines.
IBM quickly pointed out that there were some pockets of growth in its lineup: business analytics sales rose 8%, Smarter Planet 20%, and Cloud, that new Nirvana for tech, jumped 70%. But in the overall scheme of things, they didn’t amount to enough to make a big difference.
All regions were crummy. Revenues in Europe/Middle East/Africa ticked up 1%. In the Americas, they ticked down 1% – “The improvement came equally from the US and Canada and once again, we had strong performance in Latin America,” is how CFO Mark Loughridge spun the situation during the earnings call because it was less bad than last quarter.
But there was nothing to spin in Asia-Pacific, where revenues plunged 15%. Revenues in IBM’s “growth markets” dropped 9%. They include the BRIC countries – Brazil, Russia, India, and China – where revenues sagged 15%. In China, which accounts for 5% of IBM’s total revenues, sales dropped 22%, with hardware sales, nearly half of IBM’s business there, falling off a cliff: down 40%.
Mr. Loughridge, in his prepared statement, tried to come up with a logical-sounding panic-free explanation:
We were impacted by the process surrounding China’s development of a broad based economic reform plan, which will be available mid-November. In the meantime, demand from state-owned enterprises and the public sector has slowed significantly as decision-making and procurement cycles lengthened.
So, would that unprecedented collapse of demand for hardware in China end after mid-November? Nope. These “changes will take time to implement,” he warned. In fact, he did not expect demand to pick up “until after the first quarter of next year.” Not anytime soon.
No one believed that rigmarole.
When an analyst needled him, Mr. Loughridge began to deviate from the scrip: “The hardware business across those elements of the product line accepting zSeries performance (IBM mainframe computers), it was down substantially. We were talking 40%, 50%. Enormous reductions on a year-to-year basis in a geography where we intended to see growth rates.”
They’d intended to see double digit growth rates. He referred to last year, when sales in China were up 19%, “driven heavily by really strong performance in hardware base,” he said. But suddenly, hardware sales collapsed “40%, 50%” from last year. IBM didn’t even have time to come up with a credible excuse. He was struggling to make sense of it, grasping at flimsy straws and the same economic reform plan theory that no had believed earlier, but this time, it got all tangled up:
And you got to look at that and say, what significantly accounts for that. And I would say, quite honestly, if you look at the elements in China and we have worked with the team in China that simply has been a substantial impact as the process surrounding China’s development of broad based economic reform plan takes shape. And that is going to be announced and available, we think in November and probably it will take some time to implement. So I think we are looking at a couple of quarters, but once that economic plan is announced, it adds clarity to market, we should see, I think and fairly within our team, a recovery in the demand pattern for state-owned enterprise public sector.
The explanation is more obvious. In mid-August, an anonymous source told the Shanghai Securities News, a branch of the state-owned Xinhua News Agency, which reports directly to the Propaganda and Public Information Departments of the Communist Party, that IBM, along with Oracle and EMC, have become targets of the Ministry of Public Security and the cabinet-level Development Research Centre due to the Snowden revelations.
“At present, thanks to their technological superiority, many of our core information technology systems are basically dominated by foreign hardware and software firms, but the Prism scandal implies security problems,” the source said, according to Reuters. So the government would launch an investigation into these security problems, the source said.
Absolute stonewalling ensued. IBM told Reuters that it was unable to comment. Oracle and EMC weren’t available for comment. The Ministry of Public Security refused to comment. The Development Research Centre knew nothing of any such investigation. The Ministry of Industry and Information Technology “could not confirm anything because of the matter’s sensitivity.”
I’d warned about its impact at the time [read.... US Tech Companies Raked Over The Coals In China]. Snowden’s revelations started hitting in May. Not much later, the Chinese security apparatus must have alerted IT buyers in government agencies, state-owned enterprises, and major independent corporations to turn off the order pipeline for sensitive products until this is sorted out. As Mr. Loughridge’s efforts have shown, it’s hard to explain any other way that hardware sales suddenly collapsed by “40%, 50%” in China, where they’d boomed until then.
This is the first quantitative indication of the price Corporate America has to pay for gorging at the big trough of the US Intelligence Community, and particularly the NSA with its endlessly ballooning budget. For once, there is a price to be paid, if only temporarily, for helping build a perfect, seamless, borderless surveillance society. The companies will deny it. At the same time, they’ll be looking for solutions. China, Russia, and Brazil are too important to just get kicked out of – and other countries might follow suit.
Bailout for tech companies coming out soon.
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http://www.economist.com/blogs/freeexchange/2013/10/americas-jobs-report
Still sluggish
Oct 22nd 2013, 15:58 by G.I. | WASHINGTON, D.C.
WHEN the Federal Reserve began open-ended bond buying with newly printed money last fall, it hoped to generate forward momentum in the labour market. And as recently as August it seemed to have succeeded. But the recent data suggest a frustrating reversal of that momentum, with no clear explanation. Non-farm payroll employment rose just 148,000 in September from August, well below Wall Street's consensus expectation of 180,000. This was the second weak reading in a row, and vindicates the Fed's decision not to dial back its $85 billion of bond-buyding, dubbed quantitative easing or QE, last month.
Revisions to prior months' payroll gains were roughly offsetting. A big chunk of September's gains were in state and local employment. This would normally be a source of celebration since state and local austerity has been such a powerful headwind for the economy. But the pickup in government hiring has been more than offset by a slowdown in private job creation, to a monthly average of 129,000 in the last three months from 232,000 last December. Weak job gains were matched by equally tepid wage gains of just 0.1%.
The only positive, if it could be called that, is the decline in the unemployment rate to 7.2%, a near-five year low, from 7.3%. Before rounding, the drop was barely noticeable. Meanwhile, the labour force participation rate held at a multi-decade low of 63.2%. Unrounded, it actually slipped further. All of the drop in unmployment from 7.8% last December has been due to lower participation, which means fewer unemployed are recorded as looking for work, rather than higher employment. The "non-employment" rate, which is simply everyone not working as a share of the civilian, non-institutional population, has remained at 41.4%, as the nearby chart shows.
This is not primarily due to a weak economy; the number of people not in the labour force who want a job has actually fallen 9% since December, to 6.2m. The people leaving the labour force don't want to work.
Exactly why the labour market has rolled over is something of a mystery. Other, less comprehensive information is more upbeat: unemployment insurance claims through September had fallen steadily, though they have been heavily distorted since by technical problems. Surveys of hiring and confidence were also generally positive, although they took a hit during the government shutdown. The rise in mortgage rates since the spring has taken a bite out of housing. But construction employment actually rose a relatively healthy 20,000 in September. Finance did, however, lose 2,000 jobs, which was probably related to layoffs of mortgage bankers. Federal spending cuts related to the sequster may be to blame.
Even before today's report the Fed was not inclined to dial back its $85 billion a month of bond purchases, financed by printing money, when it meets again on October 29th and 30th. It could still begin to taper at its December 17-18 meeting, even if the labour market still appears soft, provided officials are relatively confident the outlook, as reflected in other data, is for improvement. But it will be hard to say by December whether that improvement has happened. The government shutdown directly reduced employment for October, and an index compiled by Gallup suggests private job creation also slowed that month. A weekly index developed by the White House Council of Economic Advisers suggest private job creation dropped by 120,000 in the first two weeks of October. Moreover, the shutdown interrupted the Bureau of Labor Statistics' data collection for the report. The household survey, which yields the unemployment and labour force data, started a week later than usual. The shutdown did not affect the collection of the data reported today although it delayed the release by 18 days.
At least one broker today said the data would keep the Fed as "on hold." That's not accurate: as long as QE remains a positive number, the Fed is not on hold: its balance sheet is still expanding and monetary policy is becoming more, not less, stimulative. This distinction may be trivial to the public but it's important to the Fed, where officials agree that the pace of balance sheet expansion has to slow and only disagree on when and how quickly. Charlie Evans, president of the Chicago Fed, indicated only $500 billion more in bond purchases beyond September will be needed, which would imply an end in March at the current pace, or somewhat later if tapering begins soon. Jay Powell, a Fed governor, emphasized recently that "what matters is the overall stance of policy, not the pace of asset purchases." In other words, the date when tapering begins is less important than how large the balance sheet ends up. The later tapering begins the more rapid it will proceed to achieve a given target for the balance sheet.
Ben Bernanke could yet make the taper his last act as chairman in January, but the odds now favor it being Janet Yellen's first act as chairman, in March. She will not do so lightly; she is, if anything, more intent than Mr Bernanke on applying as much monetary stimulus as possible to get employment up faster. But within the Fed there is a growing desire to shift the burden of stimulus to the short-term interest rate and away from quantitative easing. Still, the decision to taper will not be an easy one. Fed officials have often been muddled in explaining the criteria for beginning and ending QE, but one thing is clear: they had hoped the labour market would be gaining, not losing, momentum by now. The exit seems no clearer than when this round of QE started a year ago.
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Spending where I live seems to be up, way up! I assume people must have incomes or they wouldn't be buying homes and cars.
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http://www.sliptalk.com/2014/01/27/employee-quits-job/#.UwBluXmYbaH
This Employee Quit Her Job In The Worst Way Possible. But How Her Boss Responds Is Way Worse.
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http://www.marketwatch.com/story/unhappy-day-reactions-to-march-jobs-report-2013-04-05
• “The modest 88,000 increase in non-farm payrolls in March is further evidence that the U.S. economy is undergoing another spring slowdown, albeit from a pretty rapid pace of growth in the first quarter.” — Paul Ashworth, chief U.S. economist, Capital Economics.
And can you tell me what the Dow did? It SMASHED through 16,000 closing 150+ points higher after being -70 down on the Dow futures.
Next, is another attempt at 16,500
Be strong, go long.
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And can you tell me what the Dow did? It SMASHED through 16,000 closing 150+ points higher after being -70 down on the Dow futures.
Next, is another attempt at 16,500
Be strong, go long.
"Steve" is in the habit of confusing his own financial calamities with the status of the US markets/economy, a curious yet decidedly common tendency.
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http://www.stltoday.com/news/local/crime-and-courts/man-sent-feces-to-companies-that-failed-to-hire-him/article_df9db8a2-99bc-5910-ad16-5c53a15adb85.html
St. Louis jobseeker mailed feces to companies that failed to hire him
ST. LOUIS • Rather than simply grumble to himself or complain to others, a St. Louis man aggrieved by a company's failure to hire him took another approach.
Jevons Brown packaged up cat feces and sent it through the mail.
Brown, 58, was sentenced Friday to two years of probation after pleading guilty in August to a misdemeanor charge of mailing injurious articles.
The plea says Brown, a veteran, became frustrated with his lack of employment opportunities and lashed out at employees of companies that failed to hire him.
U.S. Postal Inspection Service spokesman Dan Taylor said that investigators tracked 20 similar packages to Brown.
“This is not a victimless crime,” Assistant U.S. Attorney John Bodenhausen said in court Friday, later explaining that he meant postal workers and the people whose mail was adjacent to Brown's packages, in addition to the employees that received it.
Both Bodenhausen and Sean Vicente, Brown's public defender, agreed that probation was an appropriate sentence, saying Brown had recently found a job and had almost no criminal history.
Federal sentencing guidelines recommended probation or up to six months in prison.
Brown apologized in court, vowing, “I'm sorry. This will never happen again.”
He has been getting counseling, and said that prayer and church had also been helping.
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http://www.stltoday.com/news/local/crime-and-courts/man-sent-feces-to-companies-that-failed-to-hire-him/article_df9db8a2-99bc-5910-ad16-5c53a15adb85.html
St. Louis jobseeker mailed feces to companies that failed to hire him
ST. LOUIS • Rather than simply grumble to himself or complain to others, a St. Louis man aggrieved by a company's failure to hire him took another approach.
Jevons Brown packaged up cat feces and sent it through the mail.
Brown, 58, was sentenced Friday to two years of probation after pleading guilty in August to a misdemeanor charge of mailing injurious articles.
The plea says Brown, a veteran, became frustrated with his lack of employment opportunities and lashed out at employees of companies that failed to hire him.
U.S. Postal Inspection Service spokesman Dan Taylor said that investigators tracked 20 similar packages to Brown.
“This is not a victimless crime,” Assistant U.S. Attorney John Bodenhausen said in court Friday, later explaining that he meant postal workers and the people whose mail was adjacent to Brown's packages, in addition to the employees that received it.
Both Bodenhausen and Sean Vicente, Brown's public defender, agreed that probation was an appropriate sentence, saying Brown had recently found a job and had almost no criminal history.
Federal sentencing guidelines recommended probation or up to six months in prison.
Brown apologized in court, vowing, “I'm sorry. This will never happen again.”
He has been getting counseling, and said that prayer and church had also been helping.
rofl
this guy is a go-getter... should have hired him
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Help wanted signs everywhere here
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Thanks to Biden everything is wonderful.
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(https://www.getbig.com/boards/index.php?action=dlattach;topic=466082.0;attach=1385626;image)
the note says "you're Joe Biden"
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Thanks to Biden everything is wonderful.
King Solomon could not rule more wisely than Biden.
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(https://usawatchdog.com/wp-content/uploads/2022/08/1adf.jpg)
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The Democrats in the White House look desperate with the actions they are taking because they do not make sense in a normal sane world. The Biden/Obama Administration is declaring Monkeypox a huge heath problem when, in fact, it is only affecting a very small percent of the U.S. population. It’s less than 7,000 people who are infected. I guess the Biden Administration wants to release more funding for the next so-called pandemic, but the public is not buying it this time around.
The primaries have happened in many parts of the country, and we are still seeing voter fraud on a grand scale. The Democrats have a terrible President with a terrible message and a sinking economy. It all adds up to massive cheating because the Dems can’t find enough stupid people to vote for their own demise. Without massive cheating, the Dems will be out of power come November. Can they pull off the biggest cheat ever? That is what it is going to take.
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The Democrats in the White House look desperate with the actions they are taking because they do not make sense in a normal sane world. The Biden/Obama Administration is declaring Monkeypox a huge heath problem when, in fact, it is only affecting a very small percent of the U.S. population. It’s less than 7,000 people who are infected. I guess the Biden Administration wants to release more funding for the next so-called pandemic, but the public is not buying it this time around.
The primaries have happened in many parts of the country, and we are still seeing voter fraud on a grand scale. The Democrats have a terrible President with a terrible message and a sinking economy. It all adds up to massive cheating because the Dems can’t find enough stupid people to vote for their own demise. Without massive cheating, the Dems will be out of power come November. Can they pull off the biggest cheat ever? That is what it is going to take.
Stimmy Money and lots of it.
People will vote towards the left more and more as the handouts get bigger.
The right will argue over inflation and the need to cut spending. The left will offer 3k/mth to families. Who do you honestly think would get the vote?
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Stimmy Money and lots of it.
People will vote towards the left more and more as the handouts get bigger.
The right will argue over inflation and the need to cut spending. The left will offer 3k/mth to families. Who do you honestly think would get the vote?
Exactly people love free money
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Exactly people love free money
except nothing is free.. someone has to pay for it they don't realize
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except nothing is free.. someone has to pay for it they don't realize
The US govt passed an 800B bill to help fight inflation.
The senate and Fed don’t care. Why should we? If we are all going to Hades you might aswell get a slice of the pie.
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except nothing is free.. someone has to pay for it they don't realize
Air is Free -No one pays for it , Though for how much longer??
;D