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Author Topic: Misery Index: The Obama Depression - "Private sector doing just Fine"  (Read 29563 times)
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« Reply #1025 on: September 28, 2012, 01:35:02 PM »

Fed's Fisher says U.S. "drowning in unemployment"
 Reuters via Yahoo News ^ | September 28, 2012 | Chris Baltimore


Posted on Friday, September 28, 2012 4:29:00 PM by John W

RICHARDSON, Texas (Reuters) - The United States is "drowning in unemployment," its economy is running at stall speed and inflation is "not a problem," but easier monetary policy is not the answer, one of the Federal Reserve's most hawkish policymakers said on Friday.

"We've had a recovery that is quite disappointing," Dallas Fed President Richard Fisher told a group at the University of Texas at Dallas.

But without more certainty on tax policy and regulation, he said, "all the monetary accommodation in the world" will not get businesses hiring again.


(Excerpt) Read more at news.yahoo.com ...
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« Reply #1026 on: September 30, 2012, 04:24:20 PM »

The Unemployment Rate Probably Climbed In September
 


Alex Kowalski, Bloomberg|Sep. 30, 2012, 6:13 AM|1,458|18
 



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Sept. 30 (Bloomberg) -- The jobless rate probably rose in September as employers kept a lid on hiring, showing why Federal Reserve policy makers have zeroed in on shoring up the U.S. labor market, economists said before a report this week.
 
The rate rose to 8.2 percent from 8.1 percent in August, according to the median forecast of 62 economists surveyed by Bloomberg before Oct. 5 figures from the Labor Department. Payrolls increased by 115,000 in September, less than the 139,000 average over the first eight months of the year, the report may also show.
 
Persistent joblessness may curb wage gains and limit consumer spending, representing another impediment to an economy facing a slowdown in manufacturing as global demand cools and businesses curtail investments. Fed Chairman Ben S. Bernanke and his colleagues at the central bank pledged this month to keep pumping money into financial markets until employment picks up.
 
“We’re looking for pretty sluggish payroll growth,” said Peter D’Antonio, an economist at Citigroup Global Markets Inc. in New York. “This will be more of the same, what Bernanke called ‘worrisome.’ It may reflect weakness coming from abroad, weakness in manufacturing, and the gains aren’t being helped by risks from fiscal policy.”
 
September’s projected payroll increase would follow a 96,000 gain the prior month.
 
This week’s release marks the next-to-last employment report before the November elections, in which economic issues play a central role.
 
 
 
Obama Leads
 
 
 
In the latest Bloomberg National Poll, President Barack Obama leads Republican challenger Mitt Romney among likely voters, 49 percent to 43 percent, even as 60 percent of Americans say the nation is on the wrong track as the president completes his first term. The telephone survey of 1,007 adults, with a margin of error of plus or minus 3.1 percentage points, was conducted Sept. 21-24.
 
Only one president, Ronald Reagan, has been re-elected since World War II with a jobless rate above 6 percent. On Election Day 1984, the rate was at 7.2 percent, having dropped almost three percentage points in the previous 18 months.
 
Unemployment has exceeded 8 percent since February 2009, the longest stretch in monthly records dating to back 1948. So far, the economy has recovered about 4.1 million of the 8.8 million jobs lost in the wake of the 18-month recession that ended in June 2009.
 
To boost growth and stimulate more hiring, the Fed this month said it would hold its target interest rate near zero until at least mid-2015 as it began a third round of stimulus, buying $40 billion in mortgage bonds a month. The S&P 500 rose to 1,465.77 the next day, the highest close since December 2007.
 
 
 
Stocks Slump
 
 
 
The S&P 500 Index last week had its biggest weekly slump since June amid disappointing economic data, including a plunge in orders for durable goods and stalled consumer spending.
 
“We’re looking for ongoing, sustained improvement in the labor market,” Chairman Bernanke said in a Sept. 13 press conference following the announcement. “What we’ve seen in the last six months isn’t it.”
 
Federal Reserve Bank of Chicago President Charles Evans has called for accommodation as long as unemployment exceeds 7 percent and the inflation outlook remains below 3 percent. On Sept. 20, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said the central bank should hold rates near zero until joblessness drops below 5.5 percent and inflation doesn’t exceed 2.25 percent.
 
 
 
Recovery Pillar
 
 
 
Manufacturing, a pillar of the early stages of the recovery, is now waning. The Institute for Supply Management Inc.’s factory index for September was little changed at 49.8 compared with 49.6 the prior month, according to the Bloomberg survey median before the group’s Oct. 1 release. A reading of 50 is the dividing line between expansion and contraction. It would mark the fourth consecutive month without growth.
 
Manufacturing employment will probably suffer in turn. Siemens AG said it will cut 615 jobs at U.S. factories that produce windmills after a “significant drop in new orders,” according to a message to employees obtained by Bloomberg.
 
The Tempe, Arizona-based ISM’s services index, which covers almost 90 percent of the economy and is due on Oct. 3, fell to 53.4 this month from 53.7 in August, according to the survey median.
 
--With assistance from Chris Middleton in Washington. Editors: Carlos Torres, Vince Golle
 
To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net
 
To contact the editor responsible for this story: Christopher Wellisz in Washington at cwellisz@bloomberg.net
 



Read more: http://www.businessinsider.com/jobless-rate-probably-climbed-in-september-us-economy-preview-2012-9#ixzz27zxgQcVK

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« Reply #1027 on: October 01, 2012, 04:13:13 AM »

JOHN HUSSMAN: We Are Already In Recession, And The Economists Just Don't Know It Yet
Joe Weisenthal|Oct. 1, 2012, 5:00 AM|770|7
 


In his latest weekly letter, investor John Hussman reiterates his belief that we are already in recession.
 
In regard to a U.S. recession, keep in mind that the consensus of economic forecasters – not to mention central bankers - has never recognized the start of a recession in real-time, largely because their assessments typically revolve around a “stream of anecdotes” approach that treats each new economic report with equal weight, without distinguishing leading/lagging and upstream/downstream structure. For example, we’ve noted that real consumption growth and real income lead new factory orders, which lead employment. Yet observers have already largely dismissed the soft data on income, consumption and factory orders thanks to last week’s single outlier on new weekly unemployment claims. As for the payroll report this Friday, we fully expect that September payroll growth will ultimately be reported as a significant loss in jobs. The main wrinkle, as I’ve noted frequently, is that the “real-time” employment figures in the early months of a recession are often hundreds of thousands of jobs off from where they are ultimately revised (see the economic notes in Late Stage, High Risk). So while Friday’s employment report seems likely to be disappointing, the data tends to be heavily revised, and even the seasonal adjustments amount to hundreds of thousands of jobs, so our expectations for a negative figure may or may not be realized in the initial report.
 
Last week, the second quarter GDP growth figure was revised down to 1.3%, from the previous estimate of 1.7%. Durable goods orders plunged at a 13.2% rate in August, largely on reduced transportation orders, but even ex-transportation, new orders dropped at the sharpest rate since 2009. It is also notable that Gross Domestic Income – the theoretically equal “income” companion of gross domestic “production” – grew at an annual rate of just 0.1% in the second quarter. The difference between GDI and GDP is nothing but a statistical discrepancy, so the two series track each other very closely over time despite short-term disparities. Because GDI has often led GDP at recessionary turns, Alan Greenspan was well-known for paying close attention to GDI – though not closely enough to recognize that the economy was already in recession when he was interviewed by Business Week in mid-2008, fully two-quarters after that recession had actually begun.
 
The chart below presents the 6-quarter growth of real gross domestic product (GDP) and real gross domestic income (GDI) since 1950. A good look at this chart provides some insight into why recession concerns have had a “Chicken Little” quality in recent quarters. Note that by the time the 6-quarter growth in income and production has slowed below 2.3% in the past, the economy was always either approaching or already in recession. It’s also worth observing the weakness in GDI growth approaching the 1990-91 and 2008-2009 recessions.
 


In the present instance, the 6-quarter average of real GDI and GDP growth has been below 2.3% for nearly a year, with no apparent recession, and in fact has bounced around that threshold since 2010. The monetary interventions of the past few years have helped to kick the recessionary can down the road in short-lived fits and starts. Still, they certainly have not been effective in producing sustained recovery (nor should they be expected to – being largely a manipulation of financial markets with no reliable transmission mechanism to the real economy).
 
The key question is whether the absence of an obvious recession should be taken as an indication that the deterioration in income and output growth can be ignored – in effect, whether we should assume that this time is different. From our standpoint, the evidence from a wide variety of economic series, including but not limited to broad measures like GDI and GDP, continues to indicate that the U.S. economy most likely entered a recession in the middle of this year.
 
Read the whole Hussman letter here >


Read more: http://www.businessinsider.com/john-hussman-we-are-already-in-recession-2012-10#ixzz282pdKCLa



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« Reply #1028 on: October 01, 2012, 06:35:01 AM »

Obama’s Fourth Recovery Summer Ends
 Red State ^ | 9/30/2012 | Staff


Posted on Monday, October 01, 2012 8:22:53


So, are you better off today than you were in 2009?

One of the stunning things about the utterly supine press in the United States is that we have lived through the worst four years of economic mismanagement in this nation’s history. Not even Gerald Ford wearing his WIN (Whip Inflation Now) button and Jimmy Carter declared energy independence as the Moral Equivalence Of War (a contender for the unfortunate acronym award: MEOW) can compete with the utter fecklessness of this administration.

By any conceivable measure, we are much worse off today than we were four years ago. In the best areas of the economy we are stagnant.

Unemployment has only been kept down below 9% by the clever tactic of reducing labor force participation. For men, the labor force participation rate is the lowest on record.

Household income is in a nosedive, dropping an unprecedented 8.2% since Obama began his one-man campaign to turn us into a Third World ineptocracy.

Nearly 47 million Americans rely on food stamps. This reflects an increase of about 12 million people over the highest level under President Bush.

There is no sign that economic activity is coming back. Manufacturing orders fell by 13.2% in August. The GDP annual growth rate was scaled back from a previously anemic 1.7% to an absolutely ossified 1.3%. This growth rate will not keep pace with new entrants to the workforce combined with the rate of inflation. Essentially our economy has stalled and may be contracting in real terms.

While the Obama Cargo Cult is out touting more college loans to train people for careers that do not exist, and will not exist under a Democrat administration, students with college loans have been defaulting at a glorious rate. 9.1% of all student loans were in default according to most recent data. Of course, the upside — I suppose — to that is that virtually all student debt is now owed to the government so this just means more debt for our posterity to deal with.

In a just world, Barack Obama would have fallen to a primary challenger. But he’s been carried on by a press that only grudgingly covers bad economic news and refuses to attach to either Obama or his administration any responsibility for anything.

But it won’t.

Economic growth grew at an incredibly sluggish 1.3 percent in the second quarter, revised down from 1.7 percent. According to business writer Jim Pethokoukis, this is “dangerously slow.” However, NBC skipped the bad news for Barack Obama entirely. ABC allowed it a mere 21 seconds. CBS was the only network to allow the story a full report.

Although Nightly News correspondent Chuck Todd couldn’t find time to mention the scant amount of growth, he did hype the fact that the President is trying “a new line.” Todd then played a clip of the President calling “for a new economic patriotism.” The journalist helpfully parroted that the President’s “idea of economic patriotism includes tax hikes on the wealthy and more government spending on infrastructure.”
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« Reply #1029 on: October 01, 2012, 06:00:25 PM »

http://www.mlive.com/business/mid-michigan/index.ssf/2012/10/hundreds_line_up_for_184_gas_a.html


People are really hurting.
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« Reply #1030 on: October 02, 2012, 01:29:31 AM »


And the Ryan plan is gonna make it better on them?
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« Reply #1031 on: October 03, 2012, 06:47:24 AM »

Baby bust continues: US births down for 4th year

Oct 3, 12:13 AM (ET)

By MIKE STOBBE
 
(AP) HOLD FOR RELEASE AT 12:01 A.M.; Chart shows the decline in the number of U.S. births
Full Image
 

NEW YORK (AP) - U.S. births fell for the fourth year in a row, the government reported Wednesday, with experts calling it more proof that the weak economy has continued to dampen enthusiasm for having children.

But there may be a silver lining: The decline in 2011 was just 1 percent - not as sharp a fall-off as the 2 to 3 percent drop seen in other recent years.

"It may be that the effect of the recession is slowly coming to an end," said Carl Haub, a senior demographer with the Population Reference Bureau, a Washington, D.C.-based research organization.

Most striking in the new report were steep declines in Hispanic birth rates and a new low in teen births. Hispanics have been disproportionately affected by the flagging economy, experts say, and teen birth rates have been falling for 20 years.

 
(AP) In this Nov. 11, 2011, file photo, a mother holds her newborn baby at Christus Spohn...
Full Image
 
 
Falling births is a relatively new phenomenon in this country. Births had been on the rise since the late 1990s and hit an all-time high of more than 4.3 million in 2007.

But fewer than 4 million births were counted last year - the lowest number since 1998.

Among the people who study this sort of thing, the flagging economy has been seen as the primary explanation. The theory is that many women or couples who are out of work, underemployed or have other money problems feel they can't afford to start a family or add to it.

The economy officially was in a recession from December 2007 until June 2009. But well into 2011, polls show most Americans remained gloomy, citing anemic hiring, a depressed housing market and other factors.

The report by the Centers for Disease Control and Prevention is a first glimpse at 2011 birth certificate data from state health departments. More analysis comes later but officials don't expect the numbers to change much.

Early data for 2012 is not yet available, and it's too soon to guess whether the birth decline will change, said the CDC's Stephanie Ventura, one of the study's authors.

Highlights of the report include:

_The birth rate for single women fell for the third straight year, dropping by 3 percent from 2010 to 2011. The birth rate for married women, however, rose 1 percent. In most cases, married women are older and more financially secure.

_The birth rate for Hispanic women dropped a whopping 6 percent. But it declined only 2 percent for black women, stayed the same for whites and actually rose a bit for Asian-American and Pacific Islanders.

_Birth rates fell again for women in their early 20s, down 5 percent from 2010 - the lowest mark for women in that age group since 1940, when comprehensive national birth records were first compiled. For women in their late 20s, birth rates fell 1 percent.

_But birth rates held steady for women in their early 30s, and rose for moms ages 35 and older. Experts say that's not surprising: Older women generally have better jobs or financial security, and are more sensitive to the ticking away of their biological clocks.

_Birth rates for teen moms have been falling since 1991 and hit another historic low. The number of teen births last year - about 330,000 - was the fewest in one year since 1946. The teen birth rate fell 8 percent, and at 31 per 1,000 girls ages 15 through 19 was the lowest recorded in more than seven decades.

"The continued decline in the teen birth rates is astounding," said John Santelli, a Columbia University professor of population and family health.

Did the economy have anything to do with a drop in teen births?

Yes, indirectly, Santelli said. Teenagers watch the struggles and decisions that older sisters and older girlfriends are making, and what they see influences their thinking about sex and birth control, he said.

"Teens tend to emulate young adults," Santelli said. "They are less influenced directly by the economy than by people."

Studies show that since 2007, larger percentages of sexually active teenage girls are using the pill and other effective birth control. Studies also show a small decline in the proportion of girls ages 15 through 17 who say they've had sex, Santelli noted.

The new birth report also noted a fourth straight decline in a calculation of how many children women have over their lifetimes, based on the birth rates of a given year.

A rate of a little more than 2 children per woman means each couple is helping keep the population stable. The U.S. rate last year was slightly below 1.9.

Countries with rates close to 1 - such as Japan and Italy - face future labor shortages and eroding tax bases as they fail to reproduce enough to take care of their aging elders.

Officials here aren't as worried.

The U.S. replacement rate is still close to 2. And it has dropped in the past and then bounced back up again, said Ventura, an official at the CDC's National Center for Health Statistics.

"And we haven't seen any studies that show couples want to have fewer children or no children," she added.

One more report highlight: The U.S. C-section rate may have finally peaked at just under 33 percent, the same level as last year.

Cesarean deliveries are sometimes medically necessary. But health officials have worried that many C-sections are done out of convenience or unwarranted caution, and in the 1980s set a goal of keeping the national rate at 15 percent.

The C-section rate had been rising steadily since 1996, until it dropped slightly in 2010.

"It does suggest the upward trend may be halted," said Joyce Martin, a CDC epidemiologist who co-authored the new report. But CDC officials want a few more years of data before declaring victory, she added.

---

Online:

CDC report: http://www.cdc.gov/nchs

 


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« Reply #1032 on: October 03, 2012, 11:21:20 AM »

That's a GOOD thing.

We want them to be down... We have too many damn people and you're talking about unemployment all the time... Birth rate certainly will affect unemployment in 16 years.

Hell yes.
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« Reply #1033 on: October 03, 2012, 11:23:18 AM »

That's a GOOD thing.

We want them to be down... We have too many damn people and you're talking about unemployment all the time... Birth rate certainly will affect unemployment in 16 years.

Hell yes.

Who is going to pay for the bills? 

Decreasing population while obligations and liabilities rise - disaster.   

hhhhmmmmm
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« Reply #1034 on: October 03, 2012, 11:25:31 AM »

Who is going to pay for the bills? 

Decreasing population while obligations and liabilities rise - disaster.   

hhhhmmmmm

More people off of welfare and unemployment - GREAT. People can all have jobs. The work force is only what jobs are needed to get a job done... Nothing more and nothing less.

So this is a net WIN... See if 100 people don't have jobs and 900 do... then you have 100 people on unemployment... if you have 1 person who doesn't and 900 who do, then you have 1 person on unemploymeny right?

So the money that the 900 people pay in taxes or whatever can go towards the debt INSTEAD of paying for another 99 people to sit on their ass.
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« Reply #1035 on: October 03, 2012, 11:28:32 AM »

More people off of welfare and unemployment - GREAT. People can all have jobs. The work force is only what jobs are needed to get a job done... Nothing more and nothing less.

So this is a net WIN... See if 100 people don't have jobs and 900 do... then you have 100 people on unemployment... if you have 1 person who doesn't and 900 who do, then you have 1 person on unemploymeny right?

So the money that the 900 people pay in taxes or whatever can go towards the debt INSTEAD of paying for another 99 people to sit on their ass.



False False False  False


The people not having jkids are the responsible people who no longer can afford it.   The lazy pieces of shit like the obamaphone lady are still breeding like rabbits. 
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« Reply #1036 on: October 03, 2012, 11:31:34 AM »


False False False  False


The people not having jkids are the responsible people who no longer can afford it.   The lazy pieces of shit like the obamaphone lady are still breeding like rabbits. 

That is not necessarily the case, but ok... Your mind is certainly one way on the matter.
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« Reply #1037 on: October 03, 2012, 11:38:03 AM »

That is not necessarily the case, but ok... Your mind is certainly one way on the matter.

Its the truth.   We are turning into Europe as a result of the same shit policies being pushed here that have destroyed them. 

Those you want having kids are not, and those you dont are staying home and breeding like pigs and rats. 
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« Reply #1038 on: October 03, 2012, 12:09:39 PM »

http://www.businessinsider.com/roubini-says-break-up-the-banks-2012-10

Roubini - we are worse off than ever w the banking system. 
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« Reply #1039 on: October 04, 2012, 08:01:32 PM »

http://www.businessinsider.com/america-is-not-the-entrepreneurial-capital-2012-10



4 more years.    Are you fucking crazy? 
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« Reply #1040 on: October 05, 2012, 09:53:29 AM »

Today's 'Good' Jobs Report Was Actually Terrible
James Pethokoukis, American Enterprise Institute|Oct. 5, 2012, 10:44 AM|3,252|24
 
 

Is this the Obama October Surprise?
 
Only in an era of depressingly diminished expectations could the September jobs report be called a good one. It really isn’t. Not at all.
 
1. Yes, the U-3 unemployment rate fell to 7.8%, the first time it has been below 8% since January 2009. But that’s only due to a flood of 582,000 part-time jobs. As the Labor Department noted:
 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
 
2. And take-home pay? Over the past 12 months, average hourly earnings have risen by just 1.8 percent. When you take inflation into account, wages are flat to down.
 
3. The broader U-6 rate — which takes into account part-time workers who want full-time work and lots of discouraged workers who’ve given up looking — stayed unchanged at 14.7%. That’s a better gauge of the true unemployment rate and state of the American labor market.
 


4. The shrunken workforce remains shrunken. If the labor force participation rate was the same as when President Obama took office, the unemployment rate would be 10.7%. If the participation rate had just stayed steady since the start of the year, the unemployment rate would be 8.4% vs. 8.3%. Where’s the progress? Here is RDQ Economics:
 
Such a rapid decline in the unemployment rate would be consistent with 4%–5% real economic growth historically but much of the decline is accounted for by people dropping out of the labor force (over the last year the employment-population ratio has risen to only 58.7% from 58.4%).  We believe part of the drop in the unemployment rate over the last two months is a statistical quirk (the household data show an increase in employment of 873,000 in September, which is completely implausible and likely a result of sampling volatility).  Moreover, declining labor force participation over the last year (resulting in 1.1 million people disappearing from the labor force) accounts for much of the rest of the decline.
 
5. As the chart below shows — a chart originally produced by Team Obama — even the artificially depressed 7.8% unemployment rate is way above the 5.6% unemployment rate the White House predicted for September 2012 if Congress passed the $800 billion stimulus package back in 2009.
 





James Pethokoukis
 

6. The 114,000 jobs created would have been a good number … but for 1962, not 2012. The U.S. economy needs 2-3 times that number every month to close the jobs gap (which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the labor force each month.) At 114,000 jobs a month, the jobs gap would not close until after 2025, according to the Hamilton Project.
 
7.  We are still on pace to create fewer jobs this year than last year. In 2012, employment growth has averaged 146,000 per month, compared with an average monthly gain of 153,000 in 2011.
 
8. White House economist Alan Krueger says the jobs numbers are ”further evidence” the economy is healing. But he’s wrong.
 
The employment-population ratio, which merely shows how many folks have jobs as a share of the civilian population, was 58.7%. Now that’s up from last month. But it is still far below where it was in June 2009, 59.4%,when the recession officially ended. And it’s even further below the 63% level before the downturn


Read more: http://www.aei-ideas.org/2012/10/the-sickly-stagnant-september-jobs-report/#ixzz28RbiGFh8

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« Reply #1041 on: October 06, 2012, 08:16:44 AM »

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« Reply #1042 on: October 06, 2012, 08:18:11 AM »

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« Reply #1043 on: October 08, 2012, 03:55:18 AM »

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US Foodstamp Usage Rises To New Record High
ZeroHedge ^ | 10/5/2012 | Tyler Durden
Posted on October 5, 2012 7:28:45 PM EDT by mojito

...[T]here was one other, far more important data point released by the government's Department of Agriculture, sufficiently late after the market close to impact no risk assets. That data point of course was foodstamps (or the government's Supplemental Nutrition Assistance Program, aka SNAP), and we are confident that no readers will be surprised to learn that foodstamp usage for both persons and households, has jumped to a new all time record.

At 46,681,833 million the persons hooked on SNAP, the July number crossed the previous record posted a short month before, as the foodstamp curve continues 'plumbing' newer and greater heights each month.

More disturbing is that in the same month, the number of US households reliant on foodstamps rose by a whopping 99,493 to 22,541,744.

(Excerpt) Read more at zerohedge.com ...
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« Reply #1044 on: October 08, 2012, 05:17:35 AM »

.

Fake Jobs Numbers Would Look Better Than This
 RCM ^ | 10/08/2012 | Louis Woodhill

Posted on Monday, October 08, 2012 7:53:56 AM by SeekAndFind

When the Bureau of Labor Statistics reported on Friday that the unemployment rate had fallen to 7.8% in September, some observers wondered if the numbers had been "cooked" for political purposes. They can relax. Fake jobs numbers wouldn't look as bad as these.

Two numbers in the BLS report attracted concern: the reported 873,000 increase in total employment, and the 0.3 percentage point reduction in the unemployment rate. These figures suggest a rapidly improving labor market, which would be very convenient for President Obama right now. However, as soon as one delves deeper into the BLS numbers, the reality of continued economic stagnation becomes clear.

As the White House has said repeatedly (and correctly), it isn't good to read too much into any one month's employment numbers. So, let's look at the third quarter of 2012 as a whole.

During the third quarter, total employment (Household Survey) increased by 559,000, or 1.57%. This was up considerably from the gain of 381,000 jobs in the previous quarter.

However, a minimum requirement to consider that a person has a "decent job" is that they have a full-time job if they want one. Accordingly, we can subtract the number of people involuntarily working part time for economic reasons from total employment to get the number of decent jobs.

As it happens, the number of people forced to work part time jobs when they wanted full time jobs increased by 403,000 during the third quarter of 2012, which means that the number of decent jobs increased by only 156,000.

Given that the working age population increased by 617,000 during the third quarter, this means that, on the margin, only 25% of new working age Americans were able to find a decent job during the quarter. And, there were actually 1000 fewer decent jobs


(Excerpt) Read more at realclearmarkets.com ...
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« Reply #1045 on: October 08, 2012, 10:02:32 AM »

There Hasn't Been A Jobs Market Recovery Since The End Of The Great Recession
James Pethokoukis, American Enterprise Institute|34 minutes ago|0|


Economist Michael Darda of MKM Partners:
 
The U.S. lost 8.87 million private sector jobs during the Great Recession; since job growth resumed in March 2010, 4.73 million private sector jobs have been created, just more than half of the job losses suffered.
 
However, the level of private sector jobs remains 12.6 million below the pre-crisis trend. …. In other words, a trend growth recovery has succeeded in stabilizing broad measures of labor market health, but catch-up growth is required for meaningful improvement.
 
We are only getting trend jobs growth, just enough to deal with population growth –but not enough to close the jobs gap, as defined by Darda.
 
We won’t fill the jobs gap unless we get much faster growth than the 1.5%-2% GDP rate we are growing at right now.


Read more: http://www.aei-ideas.org/2012/10/the-one-chart-that-shows-theres-been-no-jobs-market-recovery-since-the-end-of-the-great-recession/#ixzz28jBt6Ne6
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« Reply #1046 on: October 11, 2012, 04:34:36 AM »

Fedex to cut thousands from workforce
 France24.com ^ | Oct. 10th 2012


Posted on Thursday, October 11, 2012 7:26:03 AM


AFP - Fedex, the global delivery company, said Wednesday it was planning to cut "several thousand" people from its workforce via a voluntary departure program beginning early next year.



Company chairman Fred Smith said at an investment conference in Memphis, Tennessee, that the cuts would come in the company's Fedex Express global express delivery service, and in the US unit, Fedex Services.


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« Reply #1047 on: October 13, 2012, 08:07:01 PM »

http://www.forbes.com/fdc/welcome_mjx.shtml


Recession coming 
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« Reply #1048 on: October 13, 2012, 08:15:06 PM »

http://cnsnews.com/news/article/ceo-wynn-i-m-afraid-president


every client of mine says the same thing 
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« Reply #1049 on: October 15, 2012, 03:02:34 AM »

http://cnsnews.com/news/article/ceo-wynn-i-m-afraid-president


every client of mine says the same thing 

You dont have clients you fuck only fellow unemployed sad old men
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