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Author Topic: Misery Index: The Obama Depression - "Private sector doing just Fine"  (Read 54891 times)
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« Reply #1025 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 #1026 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 #1027 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 #1028 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 #1029 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 #1030 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 #1031 on: October 06, 2012, 08:16:44 AM »

.


* esq-obama-job-numbers-100512-xlg.jpg (115.55 KB, 614x438 - viewed 57 times.)
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« Reply #1032 on: October 06, 2012, 08:18:11 AM »

.


* esq-obama-job-numbers-100512-xlg.jpg (115.55 KB, 614x438 - viewed 55 times.)
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« Reply #1033 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 #1034 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 #1035 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 #1036 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.


(Excerpt) Read more at france24.com ...
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« Reply #1037 on: October 13, 2012, 08:07:01 PM »

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


Recession coming 
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« Reply #1038 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 #1039 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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« Reply #1040 on: October 15, 2012, 03:07:53 AM »

Ha ha.

Clients!

No one believes you. Stop already.
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« Reply #1041 on: October 15, 2012, 03:47:13 AM »

Ha ha.

Clients!

No one believes you. Stop already.

STFU pedo.
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« Reply #1042 on: October 15, 2012, 02:55:31 PM »

For Every Person Added to Labor Force, 10 Added to Those Not in Labor Force
1:09 PM, Oct 15, 2012 • By DANIEL HALPER






A new chart from the minority side of the Senate Budget Committee details the fact that, since January 2009, for every person added to the labor force, 10 have been added to those not in the labor force. Here's a chart showing the dwindling labor force:
 


"For Every 1 Person Added To Labor Force Since January 2009," the chart reads, "10 People Added To Those Not In Labor Force."
 
That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.
 
The chart relies on data available from the federal Bureau of Labor Statistics.
 
"The numbers represented in the chart are a measure of growth from January 2009 through September 2012," the Republican side of the Senate Budget Committee explains. "The data is sourced from the Bureau of Labor Statistics’ Current Population Survey, a sample of 60,000 households conducted by personal and telephone interviews. Basic labor force data are gathered monthly. The labor force consists of all people aged 16 and over either employed or actively seeking work. It does not include discouraged workers, people who have retired, or those on welfare or disability who are no longer looking for work. The 'not in the labor force' group is defined as the total civilian non-institutional population minus the labor force."


Since January 2009, the labor force has grown by 0.54 percent, or 827,000 people (from 154,236,000 to 155,063,000). Those not in the labor force grew by 10.2 percent during the same period (8,208,000 people), from 80,502,000 to 88,710,000. In other words, for every one person added to the labor force of the United States since January 2009, the size of the U.S. population not in the labor force grew by 10 people.
 
And the minority side of the Senate Budget Committee concludes, "These figures reveal several troubling trends: That the jobs market is not keeping pace with U.S. population growth; that not enough younger Americans are joining the labor force to account for retirement among an ageing population; and that a large number of workers have become so discouraged that they simply stopped looking for work and left the labor force entirely. These factors pose serious fiscal challenges for the United States. A historically low labor force participation rate—together with an ageing population and a record number of people drawing federal welfare benefits—puts severe strain on the federal budget in both the near and long term."
 
UPDATE: Senator Jeff Sessions, the ranking member of the Senate Budget Committee, comments: “The essential point of this chart is not simply how many people are employed or unemployed, but to illustrate that more and more people are simply not part of the U.S. labor force. This confirms that we are on the wrong track. It is unsustainable to have such a large and growing number of people who are not part of the productive economy. This is not a political argument, but a description of the underlying instability in our economy that has so many Americans worried about the future. The question is what can we do to reverse these trends and start moving in the right direction.”
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« Reply #1043 on: October 16, 2012, 06:43:59 PM »

http://www.weeklystandard.com/blogs/record-high-enrollment-food-stamps-46681833-million_654653.html


Record high food stamp usage.   

Hope and Change!!!!
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« Reply #1044 on: October 17, 2012, 01:20:27 AM »


So? Poor welfare leeches like you need to eat as well
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« Reply #1045 on: October 18, 2012, 07:55:20 AM »

PIMCO: 'THE US WILL GET DOWNGRADED'
Rob Wile|Oct. 18, 2012, 8:58 AM|1,068|9



 

PIMCO has seen enough of the federal government's "fiscal theatre" and now says the U.S.'s credit rating will inevitably be slashed, Bloomberg's Tracy Withers reports.
 
“The U.S. will get downgraded, it’s a question of when,” Withers quotes Scott Mather, Pimco’s head of global portfolio management, as saying. “It depends on what the end of the year looks like, but it could be fairly soon after that.”
 
If President Obama is reelected, Mather said, it's likely resolution of the country's deficit “doesn’t happen in a nice way, and we have disruption in the marketplace,” he said.
 
Any agreement will likely lower economic growth by about 1.5 percentage points next year, Mather said.
 
But they may roil markets by discussing scenarios that would lead to a 4.5 percentage-point fiscal drag, he said.
 
Click here for Withers' full report on Bloomberg.com >

 
SEE MORE — Companies that will get hit hardest by the fiscal cliff


Read more: http://www.businessinsider.com/pimco-the-us-will-get-downgraded-2012-10#ixzz29f94ekEj

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« Reply #1046 on: October 18, 2012, 10:10:45 AM »

http://www.foxnews.com/us/2012/10/18/violent-crime-jumps-18-percent-in-2011-first-rise-in-nearly-20-years/#ixzz29eYuO9Mi


Hope and Change! 
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« Reply #1047 on: October 25, 2012, 04:01:45 PM »

8,803,335: Another New Record for Disability—Up 975 Per Day Under Obama

By Terence P. Jeffrey

October 25, 2012

Subscribe to Terence P. Jeffrey's posts



   



U.S. Treasury Department (AP Photo)

 
(CNSNews.com) - The number of American workers collecting federal disability insurance benefits hit yet another record high in October, according to the Social Security Administration.
 
This month 8,803,335 disabled workers are collecting benefits, up from the previous record of 8,786,049 set in September.
 
In February 2009, the first full month after President Barack Obama took office, there were 7,469,240 workers collecting federal disability insurance. Thus, so far in Obama’s term, the number of workers collecting disability has increased by 1,334,095. That works out to a net increase of about 29,646 per month (1,334,095 divided by 45 months), or an average increase of about 975 per day (1,334,095 divided by 1,369 days).
 
During George Bush’s eight years as president, the number of workers collecting federal disability insurance increased by 2,375,258, rising from 5,067,119 in February 2001 to 7,442,377 in January 2009. That equaled an average net increase of about 24,742 per month and 813 per day. In Bush’s second term alone, the number of workers on disability increased by 1,198,575, equaling an average monthly increase of about 24,970 and an average daily increase of about 820.
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« Reply #1048 on: October 25, 2012, 07:55:50 PM »

Jeep, an Obama favorite, looks to shift production to China
Washington Examiner ^ | Oct 25, 2012 | Paul Bedard

Posted on Thursday, October 25, 2012 9:51:50 PM by

In another potential blow for the president's Ohio reelection campaign, Jeep, the rugged brand President Obama once said symbolized American freedom, is considering giving up on the United States and shifting production to China.

Such a move would crash the economy in towns like Toledo, Ohio, where Jeeps are made and supplied, and rob the community of the economic security they thought Obama's auto bailout assured them.

Fiat SpA (F), majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region.


(Excerpt) Read more at washingtonexaminer.com ...
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« Reply #1049 on: October 30, 2012, 08:43:36 AM »

Obama's Reelection Will Ensure Complete U.S. Economic Collapse
 Townhall.com ^ | October 30, 2012 | Rachel Alexander

Posted on Tuesday, October 30, 2012 11:36:16 AM by Kaslin

 This coming presidential election will determine whether the U.S. ends up in another Great Depression or pulls out of the economic slump. There are numerous signs indicating that the country is headed for economic Armageddon under Obama. Some analysts are predicting the crash could come as soon as next year. Obama is following the failed policies of President Herbert Hoover which led to the Great Depression.

Conservative commentator Rush Limbaugh says the U.S. is on an unsustainable course; there isn't enough money from taxes to pay everyone lifetime healthcare, lifetime pensions, and hefty incomes. The federal government now spends 50 percent more than it takes in. Social Security and Medicare are on the brink of insolvency and are little more than government Ponzi schemes. Soon there will be more people on welfare than not. Borrowing and printing more money will no longer save the country from defaulting, because our debt will soon be so high other countries will not want our dollars.

Earlier this year, three financial analysts predicted financial meltdown will take place in less than a year. Author Robert Prechter, who wrote the book Conquer the Crash, sees economic parallels to the Great Depression and predicts the illusion of a recovery will fail like it did in the 1930s. Art Laffer, the economist who invented the Laffer Curve, predicted a crash in 2011 if the Bush tax cuts were not extended. Since Obama backed down and extended the tax cuts through 2013, the crash has been delayed.

Economist John Williams predicts that a hyperinflationary Great Depression will take place by 2014. Investment banker Martin Hutchinson believes that the next stock market crash will be worse than Black Monday, the 1987 crash which dropped lower than the 1929 crash. The 1987 crash did not trigger a depression because there wasn't an accompanying collapse of the banking system. Hutchinson warns, “We are living in the greatest debt bubble in the history of the world and Wall Street has been transformed into a giant casino that is based on a massive web of debt, risk and leverage.“

The U.S. is arguably in a depression, but the government won't admit it because it makes the government look bad. Thanks to welfare programs, it doesn't seem as bad as the Great Depression. 25 percent of adults may be out of work, but they have welfare instead of Hoovervilles. Instead of starving Americans standing in food lines, we see Americans obese from living on food stamps. An economic depression occurs when there is greater than 10 percent contraction in economic activity over a period of 12 months or more. By contrast, recessions usually last 10 months. The longest recession in history until now lasted 16 months. This recession began in December 2007 and supposedly ended in June 2009, but the recovery is the weakest in history after a recession. If this is only a recession, it is an extremely severe one.



The condition of the U.S. economy today mirrors the economic situation prior to the Great Depression. There is slow economic growth, massive deficits, high unemployment and foreclosures, and a shaky banking system. Real unemployment is at the same level it was during the Great Depression, around 25 percent. The drop in home prices and sales is actually worse than during the Great Depression. The stock market has been dropping, and stocks are currently overvalued by as much as 50 percent. Speculative greed precipitated the stock market crash, similar to the investors and homeowners of today who made risky investments they could not afford.

Like Obama, President Herbert Hoover used a heavy-handed government interventionist approach to deal with the bad economy. Hoover was criticized by his successor, President Franklin D. Roosevelt, for “reckless and extravagant spending” and “thinking we ought to control everything in Washington.” Hoover raised taxes and slapped a tariff on imports. The top rate on personal income taxes rose from 25 percent to 63 percent. Taxes were increased on businesses and tobacco, and new taxes were added to telegraph and telephone use and checks.

Obama has put onerous regulations into place that are crippling the economy and allowing little room for recovery. There are environmental restrictions on offshore drilling, CO2 emissions, and Obama refuses to approve the Keystone Pipeline, which would have created 100,000 jobs and reduced dependency on foreign oil. Americans are already taxed to the hilt, and their taxes will go up even higher with Obamacare, the biggest tax increase in history. Buried under taxes and regulations, businesses are unable to create new jobs. Businesses are fleeing the country or outsourcing labor, due to the burdensome regulations and demands unions have placed on them. Because of the unions inflating the cost of production, it has been easy for China to shut out our overpriced products. China manipulates its currency, undervaluing the yuan in order to boost exports and limit imports. China's trade surplus helped bring about the recession. When the crash comes, China may demand that the U.S. pay its debt, even if the U.S. does not have the money to pay it.



The Great Depression was triggered by the Federal Reserve's manipulation of money, the stock market crash and failure of financial institutions. The Federal Reserve manipulates interest rates by pumping new dollar bills into the economy through the banks. This lowers the interest rates, which prompts more risky investments. The Federal Reserve caused the last recession in this way, yet it continues to pump paper money into the economy, a manipulation known as “quantitative easing.” All of this Federal Reserve activity only postpones the inevitable crash, ensuring that it will be a big crash.

How will the financial meltdown happen? Limbaugh predicts California will file bankruptcy under Obama, then other states will follow suit. There will be a stock market crash and Americans will lose their savings. Banks will fail as people rush to take their money out, and those who don't get their money out early on will find their accounts frozen. There isn't enough money to bail out all the banks if they all fail. The Federal Deposit Insurance Corporation was created in 1934 to avoid a repeat of banks failing during the Great Depression, but there is no longer enough real money left for massive bailouts. America's level of debt and deficit spending will cause other countries to lose confidence in the dollar, and they will start withdrawing their investments.



There will be rioting and major civil unrest. The violent Occupy Wall Street protesters are an indication that it is already starting. Economist John Williams predicts, “Trouble could range from turmoil in the food distribution chain and electronic cash and credit systems unable to handle rapidly changing circumstances, to political instability.” The government will finally be forced to choose what will no longer be funded.

Because of the global economy, the effects will be felt worldwide. Most European countries are already in a depression. Europe is headed for collapse. Countries like Spain, Greece and Italy have overvalued euros, making their economies uncompetitive. People are fleeing Spain, where unemployment is at 25 percent. They are pulling their money out of the banks and moving to England and other countries to find jobs. Seven percent of Spain's GDP was withdrawn from Spanish banks during July. Not only Spain is affected, banks are starting to collapse around the world, freezing customers' bank accounts. These things will happen in the U.S. too if our economy collapses.

What has brought the U.S. to the brink of economic collapse? Greed. As a result of the Federal Reserve flooding the market with paper money, interest rates artificially decreased, so people made investments and bought homes they couldn't afford, putting themselves way into debt. The banks continue to make reckless investments, despite the heavy regulations Obama has forced on the industry. When the Ponzi scheme fell apart, the government bailed out a few select banks and arbitrarily pumped billions of dollars into the economy, but it has only put a temporary band-aid on the problem.



If Obama wins reelection, Americans should pull their money out of the banks and stock market and put it into gold and other precious metals, where it will be much safer during a crash. Obama has indicated he will continue the failed policies of Herbert Hoover and FDR. Obama said he wants a “New New Deal,” referring to FDR's socialist programs. Under Hoover and FDR, those big government programs slowed the recovery and prolonged double-digit unemployment after the Great Depression.

Fortunately, it looks like Mitt Romney is going to win the presidential election. If anyone can reverse the runaway government spending, it will be Mitt Romney with his successful business and investment background in the private sector. President Ronald Reagan faced a worse economy than Obama did when he entered office, but by cutting taxes and streamlining regulations, annual economic growth rates increased up to 8 percent, quadruple Obama’s record now. America needs a transformation from a high-consuming, debt-ridden economy, to a manufacturing and exporting nation once again. Obama tells Americans the government will provide all kinds of things for them, even though it has been made painfully clear the government cannot afford to. Romney will tell Americans the truth, that greed is what got us into this situation. If Americans focus instead on taking pride in a day's work, the entire economy will turn around.
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