Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: syntaxmachine on July 06, 2013, 04:49:31 PM
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Friday's report showed that 58.7% of the civilian adult population of 245 million was working last month, i.e., that 144 million Americans had jobs. Only 116 million were working full-time, however. Thus, according to the data only 47% of adult Americans have a full-time job.
Further, the number of jobs added last month was such that the growth in jobs is not keeping up with new entries into the labor force, the data ignores the shit nature of many of these jobs (and the shit nature of many of the 116 million full-time jobs overall) as low wage, low benefit positions, and the jobs that have been and are in the process of being shipped overseas will never come back.
Finally, the Fed will inevitably ease off the quantitative pedal in the not too distant future, probably depressing home values and markets as a result*, meaning smaller retirement accounts and less home equity for many Americans, generating a negative wealth effect which will lower demand (spending) and thus lead to more layoffs.
The wealthy will always have strategies uniquely available to them for protecting their wealth and well-being, and the poor will likely remain on the government dole due to their being a significant and increasingly large constituent of a certain political party that is likely to be in power for quite a while (since social retards conservatives are busy destroying the alternative from within), plus the fact that bribing them is a way for the government to legitimize capitalism in their eyes and thus avoid social discord, whichever party is in power.
The middle class, meanwhile, has shit and a good chance of being hollowed out. It seems that unless something changes, the country's Thanatos instinct will be in the driver's seat and our empire will erode from within, just as all others have.
God bless you all, and God bless 'Murica.
*If I understand it correctly, the causal chain ought to go as follows: Fed sells off/ceases buying significant amounts of MBS-->MBS prices go down-->MBS interest rates increase-->mortgage rates increase-->home values go down (since home values are supposed to be reflective of discounted future cash flows and an increased mortgage rate increases operating costs and thus reduces future cash flows, the value should go down when mortgage rates go up, ceteris peribus)
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syntax = genius
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This is one of a dozen other reasons the Fed will not stop QE....imagine pissing in a stream that 10 people are drinking from....as much as you piss the stream gets smaller and smaller and you can't piss enough to keep up demand...welcome deflation. One day you wake up and you find out no ones been drinking for a while and you flooded the poor bastards....ooooops here come inflation, and its too late.
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awesome urine analogy
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syntax = genius
There are actually a lot of smart people here, probably all smarter than me because they don't waste as much time trolling.
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All data is manipulated worldwide. It s probably worse than the official numbers.
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uber is also uber genius
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From the trenches of the jobs market from a recent law graduate:
(http://www.jdunderground.com/jobs/thread.php?threadId=42466)
"Went to 3rd tier JD mill, graduated top half 2012, passed bar, decent resume for crim law. Want pd or prosecutor's job. Applied to tons and I mean TONS of them, and only one interview which failed. Signed up for doc review agencies for 4 months now. Had one project that was less than a week, that's it, for 4 MONTHS.
Option 1: stick it out, live with parents and save up for trailer, hope for eventual pd or pros opening while working odd jobs here and there and clawing for doc review gigs.
Option 2: move out of state for full time job offer in hospitality for 10 an hour, rent apartment and save for trailer. Abandon law and focus on building hospitality career.
My gut says to BAIL and take hospitality job. Start training, make a comeback. PD or pros job seems like winning the lottery at this point? Doc review is obviously clogged, gets more so every day, projects get outsourced more and more, and frankly people getting replaced by advanced computer programs.
BTW full load 150k debt all federal."
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"My spirit says BAIL NOW. It's over. Law school was definitely the biggest mistake of my life, and the debt is gargantuan and crushing, but somehow I'm ok with pressing reset.
Yes it is tragic, but in my mind it's almost like going blind or something, and I know that is a weird comparison, but there is just nothing I can do about it from here so I just have to make the best of my life now. A trailer park does have a bad stigma, but it fits who I am, a poor individual just scraping to survive. Having a family and kids is financially impossible and will be for the foreseeable future.
To anyone reading this thread thinking of law school, just don't go, just don't do it, for my sake. For all of us who's lives have been devastated by this profession. Work as a waiter or in retail and create something on the side. Don't take out even a penny of debt for anything. No shame in it."
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Once we grant amnesty to the tens of thousands of undocumented immigrants, the job market should fire right up.
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"Hey all. Just wanted to give an update on my situation. I am going back to my old waiter job to start saving up for a mobile home. Doc review really hasn't picked up at all. Same old same old, and it's barely enough to pay my debts, and I'm not even talking law school debts which I haven't touched. Things are looking up though.
I hope to be able to have enough saved up for a down payment on a mobile home by early next year. I found a great trailer park with a reasonable lot rent and they always have a good selection of trailers around the 10-12k range. Overall things are looking hopeful and I will likely be out of my parent's house by this time next year."
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The Fed cant stop buying Bonds because no one else wants to buy them. The Fed cant sell its bonds because no one else wants to buy them.
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So it took this guy 6-7 years to realize there are over 850,000 lawyers here in the US or that thousands compete for a mere dozen police jobs? And the idiot has over 150k in student debt? Where did he go to school? Yale or University of Phoenix?(they cost the same). Could've easily had a degree from a public school for half the cost of a nice used car loan. Could've studied an engineering discipline instead. Law enforcement? Can easily get into the field of Corrections.
He brought this on himself, or he has some serious, serious flaws.
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What's funny is to hear anyone utter the words free market in this day and age. 99.9% of the US economy is government subsidized or out right controlled. Healthcare, defense, agriculture, intelligence, etc. You take away all these heavily subsidized industries and the US economy would be on life support. Combine that with the Federal reserve and QE to the moon and we are worse than the most communist centrally planned economy that has ever existed. The US economy collapsed decades ago with Reagan, then Bush, then Clinton. We don't even have consumption driven economy anymore. It's a government driven economy. And look at the kids graduating college. LMAO! Stupid fucks don't even have a chance. They will be on the government tit in no time. I worked my ass off as a kid. All these self deluded idiots nowadays who's parents think they are going to be the next Tim Tebob pro athlete are delusional. My advice to anyone is to fuck college in the ass! Join the military at 18. Get out in 4 years, and go learn a trade. Either that or move the fuck out of the US. This country has stage IV cancer and is on life support. The funny thing is everyone walks around with their head up their ass spoon feeding themselves all the bullshit the government and media talking heads feed them.
Either that or my advice to kids is to learn the black market. Or get into farming. It's not a glamorous life but it's a free and rewarding life.
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I'M TOO BIG TO FAIL
That's a tshirt.
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The Fed cant stop buying Bonds because no one else wants to buy them. The Fed cant sell its bonds because no one else wants to buy them.
85 billion a month losing strategy.