Author Topic: 9.0% UE? What a freaking joke. Who buys in to this nonsense?  (Read 2453 times)

Hereford

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #25 on: February 08, 2011, 03:42:27 PM »
Exactly.  and not to mention it could end the farmers subsidy bullshit, with them being paid not to grow food.  Just insane.

Mmmmmm..... Funny how the people who are against corporate, large scale farming are the same ones that are against subsidies.

If all the little guys can't get enough payment to stay alive, then all you'll have is a relatively few super-farms running the food supply show.

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #26 on: February 08, 2011, 04:24:52 PM »
I don't mind subsidies as much if it is to get these guys to grow food is more quantities.

MM2K

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #27 on: February 08, 2011, 06:29:36 PM »
Mmmmmm..... Funny how the people who are against corporate, large scale farming are the same ones that are against subsidies.

If all the little guys can't get enough payment to stay alive, then all you'll have is a relatively few super-farms running the food supply show.

Its the big guys who are getting almost all the subisidies. Not the small guys. But even if it was the small guys getting all the subsidies it would still be a bad idea. The economy is capable of producing enough food without government help. If the small guys cant make a product by themselves then the product should be made by someone else. If the government gives them money its just a waste of resources.
Jan. Jobs: 36,000!!

Hereford

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #28 on: February 08, 2011, 07:11:26 PM »
Its the big guys who are getting almost all the subisidies. Not the small guys. But even if it was the small guys getting all the subsidies it would still be a bad idea. The economy is capable of producing enough food without government help. If the small guys cant make a product by themselves then the product should be made by someone else. If the government gives them money its just a waste of resources.

Yes I realize this, but shitty commodity prices would kill little guys real quick, then all you would be left with is large-scale operations that can move the volume to cover the overhead, or imports from third world sources...

MM2K

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #29 on: February 10, 2011, 08:32:06 PM »
Yes I realize this, but shitty commodity prices would kill little guys real quick, then all you would be left with is large-scale operations that can move the volume to cover the overhead, or imports from third world sources...

Whats wrong with that? If you cant make a product efficiently enough you shouldnt be making it. Walmart has done more for me than the small mom and pop stores that are comparable to it.
Jan. Jobs: 36,000!!

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #30 on: February 14, 2011, 12:05:06 PM »
U.S. Jobs picture - worse than journos tout
CNBC ^ | 2-14-11 | Jeff Cox


________________________ _______________________


"Why the Unemployment Rate Has Become a Bad Joke"

The national unemployment rate is becoming an increasingly meaningless statistic when it comes to painting a true picture of economic and job growth.

While the December drop from 9.4 percent to 9.0 percent might have looked nice on paper, digging through the real numbers shows the actual jobs picture hasn’t improved at all.

In fact, the situation is at best stagnating, despite headline numbers that look like things are getting better.

At the heart of the unemployment rate deception are the nearly three million Americans counted as “marginally attached” to the labor force. Those folks would take a job if offered but actually aren’t actively looking and thus not counted in the government’s official statistics. There are a million more of them than there were in January 2008, thanks to the lousy job market that seems to be improving only at the margins.

“This is a significant number of people waiting on the sidelines,” Paul Ashworth, chief US economist at Capital Economics in Toronto, wrote in a must-read analysis of the labor force’s participation rate.

“Considering that there are about 7 million more unemployed now than three years ago, it suggests the pool of available labor could be 15% bigger than the unemployment figures suggest,” he concluded.

That puts the headline unemployment rate well north of 10 percent, even as the so-called “real” unemployment number—which takes into account an even broader swath of the working-age population—remains above 16 percent but in a modest decline. Ashworth attributes the drop from the cycle high of 10.1 percent unemployment to the current level “as much due to a contraction in the labor force” as any illusory improvement in the real jobs picture.


(Excerpt) Read more at cnbc.com ...

MM2K

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #31 on: February 14, 2011, 11:45:23 PM »
People arent going to be fooled by the unemployment rate figure in the long run. THe labor force participation rate cant get worse enough to make the uneployment rate figure go down any further. So its going to take forever for it to go down any further, even IF jobs do start to truly come back.
Jan. Jobs: 36,000!!

GigantorX

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #32 on: February 15, 2011, 05:12:18 AM »
People arent going to be fooled by the unemployment rate figure in the long run. THe labor force participation rate cant get worse enough to make the uneployment rate figure go down any further. So its going to take forever for it to go down any further, even IF jobs do start to truly come back.

Labor Force Participation is already at historical lows, the U-3 simply doesn't count people who have stopped looking for work, amongst other things. That's leaving out a lot people.

I get to listen to a lot of talk radio and such while I drive and the facts about U-3 and the real U.E.#'s is getting out.

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #33 on: February 15, 2011, 07:33:38 AM »

Foreclosure Volume SOARS 50% In California And Arizona, As The Moratorium Ends
Gus Lubin | Feb. 15, 2011, 9:42 AM | 762 |  3



________________________ ________________________





Analysts have been warning for months that the decline in foreclosures was due to the robosigning moratorium, and did not signify an improving housing market.

Well now the shoe has dropped.

Bank foreclosure sales jumped 56.2% in Arizona from December to January, according to ForeclosureRadar.

Bank foreclosure sales jumped 51.2% in California. Oregon and Washington also recorded back-to-bank foreclosure spikes of 33% and 54%. Other regions were not measured by ForeclosureRadar.

Next month things could get worse:

"Despite months of slow sales, we've simply returned to prior levels, which to me indicates banks remain reluctant to aggressively foreclose despite the time it takes to foreclose being at or near record levels," said Sean O'Toole, founder and CEO of ForeclosureRadar. "And large inventories of properties [are] still scheduled for foreclosure sale."



Read more: http://www.businessinsider.com/foreclosure-radar-moratorium-2011-2#ixzz1E2fQNoR2

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #34 on: February 17, 2011, 06:20:55 AM »
Unemployment benefits jump to 410,000
Yahoo News/AP ^ | February 17, 2011 | AP


________________________ ________________________ -


The Labor Department says 410,000 people sought unemployment assistance last week, a jump of 25,000 from the previous week. The rise was much larger than economists had expected.


(Excerpt) Read more at news.yahoo.com ...


________________________ ____________________-

I would love to know who these economists are that always say bad news is "unexpected" considering the horror show we have leading this nation on all levels.   

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #35 on: February 17, 2011, 12:49:08 PM »
February 17, 2011
Gallup Finds U.S. Unemployment Up to 10.0% in Mid-February
Underemployment surged to 19.6% in mid-February from 18.9% at the end of January
by Dennis Jacobe, Chief Economist


PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, hit 10.0% in mid-February -- up from 9.8% at the end of January.



The percentage of part-time workers who want full-time work worsened considerably in mid-February, increasing to 9.6% of the workforce from 9.1% in January.




Underemployment Surges in Mid-February

Underemployment, in which Gallup combines part-time workers wanting full-time work with the U.S. unemployment rate, surged in mid-February to 19.6% -- mostly as a result of the sharp increase in those working part time but wanting full-time work. Underemployment now stands at basically the same place as it did a year ago (19.8%).




The Jobs Situation Now Versus a Year Ago

The unemployment rate in mid-February is 0.8 percentage points lower than it was at this time a year ago, compared with a 1.1-point improvement at the end of January. This suggests that jobs are less available now than they were in January.

More troubling, however, is the surge in underemployment. On this broader basis, current job conditions are barely improved from what they were at this time last year. Essentially, what has happened over the past year is that some people who were unemployed got part-time jobs but are still looking for full-time work. This is not much to show for a year in which many macro-economic indicators showed improvement.

This is likely why Gallup's self-reported spending remains stuck in "new normal" even as consumer optimism continues to hit new highs. Jobs remain the key to getting the U.S. economy moving, and mid-February underemployment results suggest little or no progress is being made in that regard.

Gallup.com reports results from these indexes in daily, weekly, and monthly averages and in Gallup.com stories. Complete trend data are always available to view and export in the following charts:

Daily: Employment, Economic Confidence and Job Creation, Consumer Spending
Weekly: Employment, Economic Confidence, Job Creation, Consumer Spending

Read more about Gallup's economic measures.

View our economic release schedule.

Dos Equis

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #36 on: February 17, 2011, 05:49:56 PM »
February 17, 2011
Gallup Finds U.S. Unemployment Up to 10.0% in Mid-February
Underemployment surged to 19.6% in mid-February from 18.9% at the end of January
by Dennis Jacobe, Chief Economist


PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, hit 10.0% in mid-February -- up from 9.8% at the end of January.



The percentage of part-time workers who want full-time work worsened considerably in mid-February, increasing to 9.6% of the workforce from 9.1% in January.




Underemployment Surges in Mid-February

Underemployment, in which Gallup combines part-time workers wanting full-time work with the U.S. unemployment rate, surged in mid-February to 19.6% -- mostly as a result of the sharp increase in those working part time but wanting full-time work. Underemployment now stands at basically the same place as it did a year ago (19.8%).




The Jobs Situation Now Versus a Year Ago

The unemployment rate in mid-February is 0.8 percentage points lower than it was at this time a year ago, compared with a 1.1-point improvement at the end of January. This suggests that jobs are less available now than they were in January.

More troubling, however, is the surge in underemployment. On this broader basis, current job conditions are barely improved from what they were at this time last year. Essentially, what has happened over the past year is that some people who were unemployed got part-time jobs but are still looking for full-time work. This is not much to show for a year in which many macro-economic indicators showed improvement.

This is likely why Gallup's self-reported spending remains stuck in "new normal" even as consumer optimism continues to hit new highs. Jobs remain the key to getting the U.S. economy moving, and mid-February underemployment results suggest little or no progress is being made in that regard.

Gallup.com reports results from these indexes in daily, weekly, and monthly averages and in Gallup.com stories. Complete trend data are always available to view and export in the following charts:

Daily: Employment, Economic Confidence and Job Creation, Consumer Spending
Weekly: Employment, Economic Confidence, Job Creation, Consumer Spending

Read more about Gallup's economic measures.

View our economic release schedule.


Wasn't the stimulus supposed to prevent this?    ::)

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #37 on: February 17, 2011, 05:56:03 PM »
The stim bill was meant to pay off far left constituencies first and foremost.

Bindare_Dundat

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #38 on: February 17, 2011, 07:34:50 PM »
Wasn't the stimulus supposed to prevent this?    ::)

Krugman: Stimulus Didn't Fail Because 'It Never Happened'

http://krugman.blogs.nytimes.com/2011/02/14/the-great-abdication/



Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #39 on: February 17, 2011, 07:42:00 PM »
Ha ha ha ha - if only we spent more! 

Bindare_Dundat

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #40 on: February 17, 2011, 07:47:58 PM »
Ha ha ha ha - if only we spent more!  

The only one that view him as a genius are the Benny's of the world.

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #41 on: February 17, 2011, 07:51:11 PM »
That's the best part of being a socialist - you can always claim the reason your grand plan failed was was because you did not spend enough. Its a no lose situation unless you are the sucker paying for this lunacy.

Soul Crusher

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #42 on: February 21, 2011, 08:04:24 AM »
Unemployment Rate Has Become a Bad Joke
CNBC the street ^ | 02/15/11 | Jeff Cox






NEW YORK (CNBC) -- The national unemployment rate is becoming an increasingly meaningless statistic when it comes to painting a true picture of economic and job growth.

While the December drop from 9.4 percent to 9.0 percent might have looked nice on paper, digging through the real numbers shows the actual jobs picture hasn't improved at all.

In fact, the situation is at best stagnating, despite headline numbers that make it appear things are getting better.

At the heart of the unemployment rate deception are the nearly three million Americans counted as "marginally attached" to the labor force. Those folks would take a job if offered, but actually aren't actively looking and thus not counted in the government's official statistics. There are a million more of them than there were in January 2008, thanks to the lousy job market that seems to be improving only at the margins. So when you see a "drop" in the unemployment rate, like we did when the January nonfarm payrolls number came out, it's best to measure carefully the grains of salt with which one takes the official government numbers.

"This is a significant number of people waiting on the sidelines," Paul Ashworth, chief U.S. economist at Capital Economics in Toronto, wrote in a must-read analysis of the labor force's participation rate.

"Considering that there are about 7 million more unemployed now than three years ago, it suggests the pool of available labor could be 15% bigger than the unemployment figures suggest," he concluded.

That puts the headline unemployment rate well north of 10 percent, even as the so-called "real" unemployment number -- which takes into account an even broader swath of the working-age population -- remains above 16 percent but in a modest decline. In fact, Ashworth attributes the drop from the cycle high of 10.1 percent unemployment to the current level "as much due to a contraction in the labor force" as any illusory improvement in the real jobs picture."The 836,000 decline in the labor force since (the October 2009 peak) is only slightly smaller than the 930,000 increase in employment," he wrote. "Over the second half of last year, the labor force shrank by more than employment expanded. ...In other words, the drop in the unemployment rate doesn't reflect an improving job market, but rather a decline in the labor force participation rate."

In fact, the participation rate is shrinking, not growing, falling to 64.2 percent, which is an eye-popping 26-year low. That trend makes it even harder to reconcile a drop in the unemployment rate, and also makes laughable the protests of some economists that the paltry 37,000 nonfarm job growth for January was due to weather. Economists who have held bullish outlooks for the economy are taking notice.

"Never before has such a sharp decline in the unemployment rate been predicated on an ongoing drop in the labor force. The participation rate has crumbled 1.5 (percentage points) since the recovery began," Bank of America Merrill Lynch economists Neil Dutta and Ethan S. Harris wrote in a research note.

"This labor force detachment tell us two things that should give even the most bullish of market participants room for pause: (1) structural unemployment is rising and (2) the potential rate of growth in the U.S. is slowing." What's more, those glibly dismissing inflation threats also could be in for a surprise. "More structural unemployment and weak potential growth imply less slack in the economy and raise an inflation risk," the BofAML team wrote. Just yesterday, Neal Soss, head of the economics team at Credit Suisse, said the drop in people looking for jobs is unlikely to abate for years. "One arithmetical consequence of a subdued labor participation rate is that it requires smaller job gains to achieve the same amount of decline in the unemployment rate. Thus, the decline in the jobless rate tends to overstate the improvement in the labor market," he warned clients.

So what's it all mean?

Extrapolating from Soss's analysis, we should be careful how easily we dismiss future rounds of Fed easing, political climate be damned.

"The Fed seems to share our concerns about the mathematical calculation of the unemployment rate and is beginning to downplay the improvement in that statistic in its assessment of America's jobs problem," Soss wrote. "We expect the Fed to maintain its accommodative policy stance until the unemployment rate drops for a good reason: because monthly job gains move to a much higher plateau."


________________________ _______________-



Wow - when did I post this thread?   This author is only realizing this now?       

225for70

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Re: 9.0% UE? What a freaking joke. Who buys in to this nonsense?
« Reply #43 on: February 21, 2011, 11:29:58 AM »
the unemployment rate will drop to very low levels soon.. the effective labor participation rate will keep falling to new lows..

These economic statistics are so worthless these days, it's not even funny...