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Author Topic: Misery Index: The Obama Depression - "Private sector doing just Fine"  (Read 49981 times)
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« Reply #1300 on: April 07, 2013, 07:00:17 AM »

http://www.huffingtonpost.com/2013/04/06/labor-force-dropouts_n_3030349.html


LOL.   Blaming W still.
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« Reply #1301 on: April 09, 2013, 12:31:04 PM »


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 4/08/2013 @ 11:21AM |52,440 views

Unemployment Is Really 14.3%--Not 7.6%







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The current job-creation numbers are meaningfully below the level we might expect during a period of record corporate earnings and the reaching of new peaks in the major stock market indices.

Let’s go to the videotape –

The unemployment rate is 7.7%. But, there is another 0.6% of discouraged workers,(about 800,000) mainly the young, minorities and those without the all-necessary high school diploma. Another 0.9% are only marginally employed (whatever that means) and have mostly stopped looking for a job recently. More crushing is the 5.1% of the workforce most impacted by the 2008 downturn, who are working only part-time and would prefer to have a full-time position. That 5.1% part-time workers total 8 million people, who mostly are having trouble making ends meet and most likely have no health plan from their employer, according to Bob Eisenbreis, vice chairman and chief monetary economist at Cumberland Advisers, a New York-based investment firm that makes useful comments on the economy.



 Rising Home Prices And Falling Unemployment: Don't Trust the Numbers Shah GilaniContributor

These numbers added together suggest that the true unemployment level– when part-time workers are included– is 14.3%–meaning that one in seven of every potential full-time employee in the U.S. economy is not able to earn a proper living wage–and thereby contribute to the snails-pace of economic growth.

To my way of thinking the dropout rate is the most perplexing, because how do these people survive? Moreover, the percentage of people employed is only 58.5%, down from 61%, the level hit in 2008 when Obama was first elected–and to be fair before the meltdown on Wall Street. And the jump in first-time unemployment claims last week was the highest level since last November.

Now comes the sequester–which is meant to slice 1.75% from GDP at a time the economy is supposed to be growing at only a 1.6% pace at best. In other words, fewer people will be earning wages just as bullish sentiment is gaining momentum for a risk-on long position in equities. Everywhere I go seasoned veterans believe the market’s current valuation of about 14 times earnings makes them comfortable for a long-lasting bull market. Because, after all, they argue–there is far more risk in the bond market. Incredibly, perversely almost–the public’s accumulation of fixed income mutual funds and ETFs continues big time.

I can only conclude that maybe corporate earnings will continue to increase, rewarding equity investors, because of the high unemployment rate.
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« Reply #1302 on: April 09, 2013, 08:36:26 PM »

http://www.counselheal.com/articles/4797/20130409/money-over-meds-govt-finds-americans-skipping-prescriptions-save.htm

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« Reply #1303 on: April 15, 2013, 05:58:06 AM »

Empire Fed Manufacturing Falls More Than Expected
 


Matthew Boesler|23 minutes ago|408|
 



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The New York Fed's April Empire State Manufacturing Survey is out.

The headline index fell to 3.05, below expectations for a 7.00 reading and last month's 9.24 reading.
 
Below is a summary of the report, from the release:
 
The April 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved slightly.
 
The general business conditions index fell six points but, at 3.1, remained positive for a third consecutive month. Similarly, the new orders index was lower than last month but still positive, dipping six points to 2.2, and the shipments index fell to 0.8. The indexes for both prices paid and prices received inched higher—a sign that the pace of input and selling price increases had picked up over the month. Employment indexes climbed, showing a modest increase in both employment levels and hours worked. Indexes for the six-month outlook pointed to a moderate degree of optimism about future conditions.
 
In a series of supplementary questions—previously posed in surveys conducted in April 2012 and earlier—respondents were asked how much difficulty they had experienced finding workers proficient in mathematical, computer, interpersonal, and other workplace skills. As in the earlier surveys, the most widespread difficulties related to the search for workers with advanced computer skills. In addition, a skill set that has reportedly grown harder to find is punctuality and reliability. Responses to other supplemental questions indicated that firms expected wages to rise by roughly 2½ percent, on average, over the next twelve months, and that, for nearly a third of firms, retaining skilled workers would become increasingly difficult in the year ahead.
 
Click here for the full release >


Read more: http://www.businessinsider.com/empire-fed-manufacturing-april-2013-4#ixzz2QXJiId5o
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« Reply #1304 on: April 15, 2013, 10:34:00 AM »

Economy is still in the ditch and going nowhere fast.

Going to be interesting to see what happens when small-businesses are hit with ObamaCare and fully realize its effects.
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« Reply #1305 on: April 16, 2013, 11:36:09 AM »

6 Signs The Economy Is Slowing Down
 


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Economists have said that GDP growth is now tracking over 3% in the first quarter, after a revised 0.4% growth in Q4.
 
But numerous economic indicators suggest that a spring slowdown in underway.
 
Here's a quick look at some of the recent disappointing data:
 Headline industrial production increased 0.4% in March. But MacroEconomic Advisers writes that this was because "unusually cold weather in March (a 2-standard-deviation event), following normal temperatures in February, led to a surge in utilities IP that added roughly 0.5 percentage point to the change in total IP."
 America's manufacturing Renaissance also looks to be a way off. In April the Empire Fed manufacturing survey fell to 3.05 missing expectations.
 Retail sales unexpectedly fell 0.4% in March. Part of this was because of temporary factors like adverse tax conditions, and delayed tax returns. But Nomura pointed out that the downward revisions to sales in the last two months showed that "consumer adjustment to lower disposable income at the start of the year has begun."
 Moreover, consumer confidence also missed expectations and fell to 72.3 in April, from 78.6 in March.
 Housing, which has been a huge part of the economic recovery, is also showing signs of stalling. Building permits are down, homebuilder confidence is down, foreclosure starts are up, and capacity constraints among mortgage lenders are also impacting the recovery.
 And of course there is the jobs report, which showed that only 88,000 new jobs were created in March, very shy of expectations for 190,000. The unemployment rate fell to 7.6% but this was because of a decline in the labor force participation rate.


Read more: http://www.businessinsider.com/signs-the-economy-is-slowing-down-2013-4#ixzz2QeXPzTRw
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« Reply #1306 on: April 17, 2013, 05:35:18 AM »


The Jobs Crisis: It May Not Be "Breaking News," But It's Definitely "Broken News"

Posted: 04/16/2013 9:15 pm


BREAKING! This just in: the economy is terrible and the country is suffering its worst jobs crisis since the Depression... developing...

Of course, this isn't actually breaking news -- it's aching news -- and, before the tragic bombings in Boston, the most important story going on. But you wouldn't know that if you watched any of the Sunday shows last week.

On CBS' Face the Nation, the topics were the background check bill and immigration, with Senator Marco Rubio.

On ABC's This Week we had the president's budget, Jay-Z's trip to Cuba, Ken Burns' Jackie Robinson documentary and immigration, with Senator Marco Rubio.

On NBC's Meet the Press, they went with the background check bill, the president's budget, Ken Burns' Jackie Robinson documentary, and immigration, with Senator Marco Rubio.

CNN's State of the Union went with a wild card -- North Korea -- and then the president's budget and immigration, with... (how'd you guess?) Senator Marco Rubio.

Virtually unmentioned was the economy and the long-term jobs disaster that's been enveloping the country for five years now. The only mentions jobs got were in the context of the debate over whether immigrants might take away the jobs of hard-working Americans. The plight of many millions of Americans who are actually out of work is apparently not very newsworthy. Or at least not as newsworthy as an American rapper traveling in Cuba. Or a Cuban-American traveling in Washington to all four Sunday news shows.

Yes, I know I've banged this drum before, but it is hard to believe that what the Center on Budget and Policy Priorities calls the "longest, and by most measures worst economic recession since the Great Depression" doesn't warrant a mention on shows ostensibly devoted to the biggest news stories. Talk about missing the forest for the trees. Only in this case, the forest has largely been clear-cut.

But just because something is old news doesn't mean it's not still important news. Perhaps we need to come up with an alternate term to the breathless "BREAKING" tag. How about "BROKEN"? Yes, the story has already been broken, but the real story is that it's still going. And going and going. And the top "BROKEN" news story is clearly our still-broken economy. Here's some supporting evidence:

Only 88,000 new jobs were produced last month, and the only reason the unemployment rate ticked down to a still-alarming 7.6 percent is because so many people left the work force altogether, which sent the labor force participation rate down to 63.3 percent, the lowest point since 1979. If we were to include in the calculations those who have given up looking for work, the unemployment rate would actually be 9.8 percent.

As of February, there were 12 million workers officially unemployed, but only 3.9 million job openings, which means a little over three unemployed job seekers for every open job. And of the nearly nine million jobs lost during the recession, only about six million have been recovered, leaving us with nearly three million fewer jobs than we had at the beginning of the economic downturn. At the current rate of growth, we're not due to get back to full employment until around 2020.

And even for those who have found jobs, it's still a "BROKEN" story. As Jed Graham of Investor's Business Daily writes, "As bad as the current job recovery has been -- and it's by far the weakest since World War II -- the recovery in wages has been far worse."

Graham notes that in the last recession, in 2001, the wage recession lasted only two and half years, much less than the four-year jobs recession that accompanied it. In that recession, at the point where we are now, relative to the start of our current recession, wages were up 8 percent over their previous high. But not this time. Graham cites a study last year that found that low-wage jobs made up 21 percent of this recession's losses but a whopping 58 percent of the recovered jobs. Which is one reason why real annual median household income continues to fall, most recently to just over $45,000 -- down from around $51,144 in 2010.

As Brad Plumer put it, "America's middle-class jobs have been decimated since 2007, replaced largely by low-wage jobs." And this is a "BROKEN" news story that keeps on breaking. According to the Federal Reserve Bank of San Francisco, when middle class workers lose their jobs and find new ones at lower wages, over the next 25 years they'll earn an average of 11 percent less than workers who kept their jobs. And since our so-called recovery started, almost 40 percent of new jobs have come in low-wage areas like food service, retail and clerical jobs.

For the long-term unemployed, the situation is verging on hopeless. According to The Atlantic's Matthew O'Brien, the long-term unemployment picture is "the scariest thing in the world." It's an alternate economy, he writes, that's "horribly dysfunctional" -- and comes with consequences for the entire country. "The worst possible outcome for all of us is if the long-term unemployed become unemployable," he writes. "That would permanently reduce our productive capacity."

In fact, given our lack of recovery so many years after the start of the recession, that permanent reduction might already be happening. In the last quarter of last year, our actual GDP was around $975 billion less than the potential GDP our economy has the capacity for. Nearly a trillion dollar gap.

In that context it's not that surprising that there are currently 46 million Americans living in poverty, over 16 million of them children. "Yet," as HuffPost's Jennifer Bendery writes, "the issue has all but disappeared from the legislative agenda in Congress as lawmakers focus squarely on deficit reduction. Obama, too, has been largely silent on the issue, and has even proposed cutting Social Security -- a key tool for combating poverty." To Rep. Marcia Fudge, an Ohio Democrat who is also chairwoman of the Congressional Black Caucus, it's "unfathomable" that the issue isn't "at the top of everybody's priority list." Though it's a bit more fathomable when it's not at the top, or even the bottom, of any of our Sunday news shows.

Of course we could make taking on poverty and the jobs crisis a national priority; but instead, the parameters of the ongoing economic debate -- which the media play an important role in setting -- are largely confined to how big of an austerity hit we're going to impose on ourselves. According to the CBO, the sequester and payroll tax hikes could cut growth by 1.5 percent over the course of this year. "Unless the government takes steps to boost growth, we will be seeing millions of people needlessly denied employment for over a decade," writes Dean Baker. "That should be the central focus of everyone in Washington."

Including the media.

But it's hard to imagine our jobs disaster will get the attention -- and the solutions -- it deserves if our media doesn't think it's a story worth telling. I know it's not "BREAKING NEWS!" but it's "BROKEN NEWS" to the tens of millions whose lives are still being turned upside down by it.








LOL - FUCK YOU ARIANNA - YOU VOTED FOR THIS TWICE!   YOU OWN THIS! 
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« Reply #1307 on: April 23, 2013, 06:24:34 AM »

MISS: US Flash PMI Falls To 52.0
 


Sam Ro and Matthew Boesler|25 minutes ago|782|1
 



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April Flash PMI is out.
 
The headline index fell to 52.0 from last month's 54.9 reading.
 
Economists were looking for a smaller decrease to 53.9.
 
Any number over 50 indicates expansion, so this reading says American manufacturing is still expanding, but at a slower pace than last month.
 
Below is a full breakdown of the sub-components of the index:


Read more: http://www.businessinsider.com/april-us-flash-pmi-2013-4#ixzz2RICTrrH8
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« Reply #1308 on: April 24, 2013, 07:01:57 AM »

DURABLE GOODS ORDERS TANK 5.7%
 


Matthew Boesler|Apr. 24, 2013, 8:30 AM|1,238|5
 


REUTERS/Robert Galbraith
Durable goods orders data are out.

Total orders fell 5.7% in March versus expectations of a smaller, 3.0% decline.
 
Orders for nondefense capital goods excluding aircraft and parts (a.k.a. "core capex") rose 0.2%. Economists were looking for a 0.3% increase.
 
February's 5.7% growth in total orders was revised down to 4.3%.
 
February core capex was revised down to -4.8% from -2.7%.
 
Click here for the full release >


Read more: http://www.businessinsider.com/durable-goods-orders-march-2013-4#ixzz2ROCX7bfI


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« Reply #1309 on: April 24, 2013, 07:14:46 AM »


Wow. Some recovery, huh? Levels are heading right on down to 2001-2002 recession levels. Ouch

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« Reply #1310 on: April 24, 2013, 07:40:12 PM »

DAVID ROSENBERG: 12 Signs The Economy Is Weaker Than You Think
 


Cullen Roche, Pragmatic Capitalism|Apr. 24, 2013, 8:24 PM|2,162|8
 



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We’ve seen plenty of conflicting data in recent weeks as we begin to see some weakness in the economy (right on time again!).  In his latest note David Rosenberg highlights 12 indications that the economy is weaker than we think:
 
Household employment (-206k in March, the steepest decline in well over a year).
 Real retail sales (-0.3% in March, down for the second time in three months).
 Manufacturing production (-0.1% and also down in two of the past three months).
 Core capex orders (-3.2% in February, and again, down in two of the past three months).
 Single-family housing starts (-4.8% in March and negative for two of the past three months as well.
 New home sales (-4.6% in February).
 Philly Fed for April down to 1.3 from 2.0.
 NY Fed Empire manufacturing index down to 3.05 from 9.24.
 NAHB Housing Market index down to a six-month low of 42 in April from 44.
 Conference Board consumer confidence index down to 59.7 in March from 68.
 University of Michigan consumer sentiment down to 72.3 for April from 78.6, the lowest in over a year.
 Conference Board leading indicators down 0.1% in March, first decline in seven months.
 
Source: Gluskin Sheff


Read more: http://pragcap.com/david-rosenberg-12-signs-the-economy-is-weaker-than-we-think#ixzz2RRHQazaB
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« Reply #1311 on: April 25, 2013, 10:38:40 AM »

http://cnsnews.com/blog/joe-schoffstall/record-number-households-food-stamps-1-out-every-5


FORWARD!!!!!!
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« Reply #1312 on: April 25, 2013, 12:09:18 PM »

$2 Trillion Underground Economy May Be Recovery's Savior
 Text Size   Published: Wednesday, 24 Apr 2013 | 9:52 AM ETBy: Mark Koba
Senior Editor, CNBC

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Peter Cade | Image Bank | Getty Images The growing underground economy may be helping to prevent the real economy from sinking further, according to analysts.

The shadow economy is a system composed of those who can't find a full-time or regular job. Workers turn to anything that pays them under the table, with no income reported and no taxes paid — especially with an uneven job picture.

"I think the underground economy is quite big in the U.S.," said Alexandre Padilla, associate professor of economics at Metropolitan State University of Denver. "Whether it's using undocumented workers or those here legally, it's pretty large."

"You normally see underground economies in places like Brazil or in southern Europe," said Laura Gonzalez, professor of personal finance at Fordham University. "But with the job situation and the uncertainty in the economy, it's not all that surprising to have it growing here in the United States."

Estimates are that underground activity last year totaled as much as $2 trillion, according to a study by Edgar Feige, an economist at the University of Wisconsin-Madison.

That's double the amount in 2009, according to a study by Friedrich Schneider, a professor at Johannes Kepler University in Linz, Austria. The study said the shadow economy amounts to nearly 8 percent of U.S. gross domestic product.

Much of that money goes into cash registers, said Gonzalez, as personal consumption has risen since the recession.

"There is consumer spending in the short term, with people having money even if it's not reported, and that's boosting the economy," she said. "But in the long run, an underground economy is telling us that things have to change."
Shadow economies are usually associated with illegal activity, such as drug dealing. But anecdotal evidence indicates that off-the-books work in today's job market includes personal and domestic workers, such as housekeepers and nannies.

"The jobs are in service industries from small food establishments to landscaping." said David Fiorenza, an economy professor at Villanova University. "Even the arts and culture industry is not immune to working off the books in areas of music and entertainment."

It also includes firms that hire hourly or day construction labor, information technology specialists and Web designers. Many who have a job that doesn't pay enough take another one that pays under the table.

"We've always had people who make income without recording it, so it's not really new," said Peter McHenry, an assistant professor of economics at William & Mary College. "But the fact that more and more people are doing it shows how bad the job picture is," he added.

The reasons behind the underground economy's growth are fairly simple, according to Gonzalez.

(Read More: Spooked by Uncertainty, Little Main Street Hiring)

"There's a lot of uncertainly about immigration changes and who will be legal, and about paying for Obamacare," she said, adding that most workers in the shadow economy are in the country illegally. "Government rules are keeping businesses from hiring."


A report from ADP Research Institute states that many employers, especially in low-wage businesses such as retail and food service, plan to reduce workers' hours to less than 30 a week to avoid having to offer health benefits through Obamacare (or pay a fine).

"This type of regulation could put more people out of work and into an underground economy," McHenry said.


But employers have their own agenda, according to Padilla.

(Read More: Small Business Owners: Can I Get Some Cash Please?

"Businesses are not angels, and they exist to make a profit," Padilla said. "They are going to do everything they can to keep costs down, and if that means paying people off the books, they will do it. The government doesn't really have the resources to track down every business that does this."

What the government is keeping track of is lost revenues. According to the Internal Revenue Service, about $500 billion in taxes were lost last year because of unreported wages, versus $384 billion in 2001.

"The effects of the underground economy are larger than we think," said David Fiorenza. "The result is less tax money paid to the various levels of government."


"Those working and not paying the taxes puts the burden on those who pay the tax," added Fiorenza. "Taxes could be lower if the government where able to capture the underground economy instead of raising taxes on those currently paying the various income and payroll taxes."

But the dangers of a shadow economy go beyond dollars and cents, analysts said. Workers who aren't on the books don't get Social Security or health benefits, and worse.

"People who do these types of jobs run the risk of getting exploited with lower pay or not being paid at all," Gonzalez said. "There could be more exploitation if more people are forced into this type of economy."

"Some income is better than none, but there is a reason we have certain regulations in place to protect workers and what they do," McHenry said.

(Read More: Stealth Sequester? Where It's Really Being Felt)

In the end, what's happening below the normal economy should not come as too much of a shock, according to Gonzalez.

"People are running out of patience when it comes to finding a job and losing income," Gonzalez said. "So it's not that surprising to have workers take jobs that are in the shadow economy. But it's a sign of how bad things are and how we have to get the real economy moving again."

http://www.cnbc.com/id/100668336

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« Reply #1313 on: April 26, 2013, 05:54:39 AM »

Markets Slip After GDP Report
 


Sam Ro|22 minutes ago|239|
 



Flickr / quinn.anya
The Q1 GDP report is out. The headline number grew by 2.5%, but missed expectations calling for 3.0%.
 
Dow futures are down 42 points.
 
S&P futures are down 5.1 points.
 
Just before the report, Dow futures were down 26 points, S&P futures were down 3.5 points, and Nasdaq futures were down 9.7 points.
 
Click Here For Full Coverage Of The GDP Report >


Read more: http://www.businessinsider.com/futures-update-2013-4#ixzz2RZceU7RM
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« Reply #1314 on: April 26, 2013, 10:49:22 AM »

Job Picture Looks Bleak for 2013 College Grads
 Text Size   Published: Friday, 26 Apr 2013 | 8:54 AM ETBy: Mark Koba
Senior Editor, CNBC

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Leland Bobbe | Stone | Getty Images Even as new numbers show the overall employment picture improving—or at least not getting worse—new college graduates may not be so lucky when it comes to finding work.

A survey released last week from the National Association of Colleges and Employers (NACE) reported that businesses plan to hire only 2.1 percent more college graduates from the class of 2013 than they did from the class of 2012.

That's way down from an earlier NACE projection of a 13 percent hiring rate for 2013 grads. (Read More: Surging Student-Loan Debt Is Crushing the System)

This comes even as the college graduate jobless picture seems to be getting better. The rate of unemployment in 2012 for college grads—defined as 20-24 years old—was 6.3 percent, down from the 8.3 percent for 2011 graduates, according to the Bureau of Labor Statistics. The rate in 2010 was 9.4 percent.

It's not only a bleaker job outlook 2013 graduates face. According to the Economic Policy Institute, the class of 2013 will likely earn less over the next 10-15 years, than they would have before the recession hit and jobs were more plentiful.

(Read More: Student Loan Borrowers Leaving Lots of Money on the Table)


NACE said employment areas with the greatest demand for this year's graduates include business, engineering, computer sciences and accounting.

One reason there may not be so many grads hired is that many employers don't believe college graduates are trained properly.

A survey of 500 hiring managers by recruitment firm Adecco, found that a majority—66 percent— believe new college graduates are not prepared for the workforce after leaving college. Fifty-eight percent said they were not planning to hire entry level graduates this year, and among those managers hiring, 69 percent said they plan to bring on only one or two candidates.

"Too many students are graduating with a weak background in science and math," said Mauri Ditzler, president of Monmouth College.

"We need to make sure our graduates know the basics and many don't."

(Read More: Why Businesses Prefer a Liberal Arts Education)

A frequent mistake graduates make that keeps them from getting even an interview is spelling, according to the Adecco survey. Forty-three percent of managers said spelling errors on resumes can automatically disqualify a graduate from being interviewed.

In fact, 54 percent in the survey said they failed to hire anyone in the last two years because of a weak resume, regardless of having a good interview.

(Read More: Job-Seeking Teens Might Get a Break This Summer)

"Businesses want people in a chosen field but they also want people who can read and write and who are cultural literate," said Jonathan Hill, an associate dean for special programs and projects at Pace University.

"College students must take courses in the humanities like English classes as well as focus on science and math," Hill said. "Otherwise, graduates are going to have a tough time in the job market."
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« Reply #1315 on: April 28, 2013, 07:44:47 PM »

Report: Obama Has Spent 3.6% of Presidency on Economy
 

by Wynton Hall28 Apr 2013, 3:03 PM PDT50post a comment View Discussion
 
A new report by the nonpartisan Government Accountability Institute (GAI) finds that President Barack Obama has spent 3.6% of his total work time throughout his presidency in economic meetings of any kind.

The study, titled “Presidential Calendar: A Time-Based Analysis,” based its findings on the official White House calendar, Politico’s comprehensive presidential calendar, and media reports through March 31, 2013. The study defined the president’s work week as a six-day, 10-hour-a-day time period.
 
“You should know that keeping the economy growing and making sure jobs are available is the first thing I think about when I wake up every morning,” Obama said in 2011 to an audience of UPS workers. “It's the last thing I think about when I go to bed each night."
 
The GAI report, however, reveals Obama’s hours spent on the economy have fallen significantly since entering office. In 2009, Obama spent 187.2 hours in economic meetings; in 2010, 127.8 hours; in 2011, 73 hours; in 2012, 80.4 hours.
 
In total, the report says Obama has spent 474.4 hours (or 47.4 10-hour workdays) in economic meetings or briefings of any kind throughout his presidency.
 
To be sure, any president’s economic work includes private conversations and discussions not necessarily captured on the official White House presidential calendar. But the study granted wide parameters to include any meeting that might remotely deal with economic matters. For example, calendar entries like “Obama meets with Cabinet secretaries” and “Obama has lunch with four CEOs” counted as economic meetings. If the White House calendar did not include the time a meeting ended, a generous two hours were given.
 
GAI’s latest study is in alignment with findings from its presidential calendar analysis last July, which found Obama spending scant time on the economy. Prior results found that Obama spent an average of just 138 minutes a week in economic meetings of any kind.

“There will be some who will be encouraged by the numbers and some who will wish the president spent more time in economic meetings,” said GAI President Peter Schweizer. “We just tabulate the numbers and let others decide how to interpret them.”

http://www.breitbart.com/Big-Government/2013/04/28/REPORT-Obama-Has-Spent-3-6-Of-Presidency-On-Economy

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« Reply #1316 on: April 28, 2013, 08:19:00 PM »

American Rail Traffic Growth Has Nearly Ground To A Halt
 


Cullen Roche, Pragmatic Capitalism|Apr. 28, 2013, 1:28 PM|2,927|4
 


 
After a big first quarter rail traffic has come out of the gate extremely soft in Q2.  The average pace of year over year expansion in intermodal traffic was a very healthy 5.3% in Q1, but has averaged just 0.08% so far in the first 4 weeks of the second quarter.  This is a trend that has been developing since early March as the pace of expansion has averaged just 2.11% since the first week of March.  Overall, that brings the 12 week moving average to 4.01%.  That’s still a healthy pace, but the recent slowing is a trend worth keeping a close eye on.  If rail traffic is any indicator it’s possible that economic growth peaked in Q1.
 
Here’s more from AAR:
 
“The Association of American Railroads (AAR) reported mixed traffic for the week ending April 20, 2013, with total U.S. weekly carloads of 276,662 carloads, down 2 percent compared with the same week last year. Intermodal volume for the week totaled 240,698 units, up 0.6 percent compared with the same week last year.  Total U.S. traffic for the week was 517,360 carloads and intermodal units, down 0.8 percent compared with the same week last year.
 
Four of the 10 carload commodity groups posted increases compared with the same week in 2012, led by petroleum and petroleum products, up 40.1 percent. Commodities showing a decrease included grain, down 21.8 percent.
 
For the first 16 weeks of 2013, U.S. railroads reported cumulative volume of 4,403,958 carloads, down 2.3 percent from the same point last year, and 3,799,366 intermodal units, up 4.6 percent from last year. Total U.S. traffic for the first 16 weeks of 2013 was 8,203,324 carloads and intermodal units, up 0.7 percent from last year.”
 
Chart via Orcam Investment Research:


Read more: http://pragcap.com/rail-traffic-continues-to-soften-in-q2#ixzz2RopHp9xZ

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« Reply #1317 on: April 29, 2013, 03:57:18 PM »

Markets Slip After GDP Report
 


Sam Ro|22 minutes ago|239|
 



Flickr / quinn.anya
The Q1 GDP report is out. The headline number grew by 2.5%, but missed expectations calling for 3.0%.
 
Dow futures are down 42 points.
 
S&P futures are down 5.1 points.
 
Just before the report, Dow futures were down 26 points, S&P futures were down 3.5 points, and Nasdaq futures were down 9.7 points.
 
Click Here For Full Coverage Of The GDP Report >


Read more: http://www.businessinsider.com/futures-update-2013-4#ixzz2RZceU7RM


That's great fucking news! It means the Fed will keep printing into infinite and the Federal Govt. will give blow outs in welfare and sorts of deficit funded crap!

Good news is bad but bad news is awesome.
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« Reply #1318 on: April 30, 2013, 07:12:12 AM »

http://www.businessinsider.com/chicago-pmi-april-2013-4


FORWARD!
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« Reply #1319 on: April 30, 2013, 07:28:59 AM »

Wealth Gap Among Races Has Widened Since Recession [blacks were hurt worst of all races under Obama]
 New York Times ^ | April 28, 2013 | ANNIE LOWREY

Posted on Tuesday, April 30, 2013 9:43:45 AM by grundle

the last half-decade has proved far worse for black and Hispanic families than for white families

when it comes to wealth — as measured by assets, like cash savings, homes and retirement accounts, minus debts, like mortgages and credit card balances — white families have far outpaced black and Hispanic ones. Before the recession, non-Hispanic white families, on average, were about four times as wealthy as nonwhite families, according to the Urban Institute’s analysis of Federal Reserve data. By 2010, whites were about six times as wealthy.

The dollar value of that gap has grown, as well. By the most recent data, the average white family had about $632,000 in wealth, versus $98,000 for black families and $110,000 for Hispanic families.

Many experts consider the wealth gap to be more pernicious than the income gap, as it perpetuates from generation to generation and has a powerful effect on economic security and mobility.

Higher unemployment rates and lower incomes among blacks left them less able to keep paying their mortgages and more likely to lose their homes, experts said.

Black families also suffered bigger hits to their retirement savings, the Urban Institute found. With lower earnings and higher unemployment rates leaving them with a thinner safety net to begin with, black families were more likely to take funds out of the market when it was depressed, leaving them out in the cold as the market recovered.


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



LMFAO!!!!

SUCKERS!!!!!


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« Reply #1320 on: May 01, 2013, 07:04:22 AM »

ADP Private Jobs Plunge, Miss; Fall For Fifth Month In A Row
Submitted by Tyler Durden on 05/01/2013 08:33 -0400




With the March Payroll number printing at a miserable 88K compared to ADP's 158K print, it was only a matter of time before Mark Zandi, still furious from getting the news he won't be the next GSE Tzar, revised the last month's data to 131K as he just did. Concurrently he also announced that the just released April ADP was a huge miss to expectations of 150K, printing at just 119K, or a 31K miss. This was the 5th month in a row of declines excluding the small bounce in February data. It also means that the combined miss to expectations including March (original estimate +200K) and April (estimate 150K) is precisely 100K. This excludes whatever revisions ADP will do to the April number following the even bigger looming NFP miss. Manufacturing jobs? -10,000. Oh yes, anyone looking for seasonally unadjusted ADP data, good luck - keep on looking. In short: yet another atrocious economic data point which however may need the support of the equally horrible sub-49 Mfg ISM due out shortly to take out 1600 in the S&P.

Aside for the tiny bounce in February, this would be the 5th consecutive drop in the ADP number starting with the November 276K surge, driven purely by the QE4EVA euphoria.


Via ZH
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« Reply #1321 on: May 01, 2013, 07:07:07 AM »

http://www.cnbc.com/id/100691168


UE 10% in most parts of the country!


FORWARD!!!
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« Reply #1322 on: May 01, 2013, 07:31:41 AM »

http://news.investors.com/050113-654209-companies-cut-employee-benefits-as-obamacare-looms.htm


SUCKERS


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« Reply #1323 on: May 01, 2013, 12:23:26 PM »

Another batch of bad economic news today.

Sad.
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« Reply #1324 on: May 01, 2013, 01:44:44 PM »

http://nation.foxnews.com/economy/2013/05/01/santelli-explodes-obamas-socialistic-policies

Nice
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