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About That "Jobs Improvement" Under President Obama

Tyler Durden's picture




 

We have heard much from the propaganda machine just how much better the jobs situation has gotten under president Obama three years into his term. We would like to interject with two very simple charts...

Chart 1

Chart 2

h/t John Poehling

 

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Fri, 03/04/2011 - 19:47 | 1020892 Yen Cross
Yen Cross's picture

And that means DO Do dukie. The 99er's get killed on 3-31. I have to piss. have agood weekend.

Fri, 03/04/2011 - 20:17 | 1020975 markmotive
markmotive's picture

Real unemployment is near 20%. If people knew this there'd be blood in the streets (at least figuratively).

So (in real terms) are we going down the secular bear market route like in Japan? The fundamentals in Japan were terrible and each suckers rally subsequently came crashing down...

http://www.planbeconomics.com/2011/02/10/chart-buy-hold-priceless/

Fri, 03/04/2011 - 22:24 | 1021219 reader2010
reader2010's picture

Blood? I thought your flag there is full of the blood of the Chinese peasantry.

Sat, 03/05/2011 - 11:10 | 1021832 Matt
Matt's picture

yes, 750 new jobs servicing military hardware is definitely a sign of an improving economy, not a sign of increased warfare.

The President is extremely aware higher oil prices are bad, so we are actively seeking to secure more oil through humanitarian missions to help democratize MENA, and create more jobs in the military and support industries.

Or maybe I'm too cynical.

Fri, 03/04/2011 - 23:57 | 1021386 wintermute
wintermute's picture

Unemployment could be 40% but there will not be riots while the food stamp debit cards still buy the monthly groceries.

Sat, 03/05/2011 - 00:37 | 1021452 JW n FL
JW n FL's picture

as long as un-employment is extended.. food stamps are passed out.. "We the People" can maintain our Danzig wiff da Starz / Jerry Springer TiVo schedule along with un-limited amounts of fatty snacks.. all is well in the World. Better to sit home on our fatasses and watch the World Burn than to get up and plant a garden just in case.. God Bless America, even the stupid Americans.

Sat, 03/05/2011 - 14:05 | 1022033 sun tzu
sun tzu's picture

Don't forget MTV and the real opiate of the masses - sports.

Sat, 03/05/2011 - 04:14 | 1021628 Haywood Jablowme
Haywood Jablowme's picture

Unemployment could be 40% but there will not be riots while the food stamp debit cards still buy the monthly groceries.

+ 1oz agreement here but all bets are off once wonder bread gets to $10 a loaf but by that time anyway, we'll be heading into WWIII to even really give a shit.

 

Sat, 03/05/2011 - 04:49 | 1021637 StychoKiller
StychoKiller's picture

Are the funbux placed on EBT cards adjusted for inflation by the CPI?

(It's the screwin' they're gonna get for the screwin' they got!)

Sat, 03/05/2011 - 11:37 | 1021849 dark pools of soros
dark pools of soros's picture

let's start a ZH snap based payday loans outfit..  we can even put whiskey & cigs in milk & egg cartons and sell at the desk all while grabbing interest on their future payouts

 

frontrun the end of the world

Sat, 03/05/2011 - 15:40 | 1022219 snowball777
snowball777's picture

You're a humanitarian...in the way that people who eat veggies are vegetarian.

Sat, 03/05/2011 - 22:26 | 1022787 dark pools of soros
dark pools of soros's picture

just doing my job as a soul sucking vortex

Sat, 03/05/2011 - 15:39 | 1022216 snowball777
snowball777's picture

No.

Sat, 03/05/2011 - 13:41 | 1021948 Spalding_Smailes
Spalding_Smailes's picture

Recently, pilot studies were begun to determine the extent to which illegal aliens were filing for unemployment benefits. Several SESAs are participating in the study in cooperation with the Immigration and Naturalization Service (INS) and with technical assistance from ETA. In two sites the studies were initiated after the INS found evidence that an illegal alien apprehended for deportation was collecting benefits at the time the individual was apprehended. The preliminary findings indicate potentially widespread abuse of the unemployment insurance program by illegal aliens.

While only a small stage of individuals filing initial claims are aliens, the preliminary findings from the pilot studies show that a substantial number of these aliens (as high as 40%) are verified by INS as being illegal aliens who are not authorized to work. In many cases, the alien registration number on the claimant's document was not on file with INS, indicating the immigration document was counterfeit. In other cases, the documents may have been altered because the name, date of birth, or sex on the claimant's card did not agree with the data in INS records.

In the case of aliens apprehended for deportation, the INS estimates that between 10 to 15 percent have a social security number in their possession. Several SESAs matched the social security numbers of illegal aliens deported from their States over a period of several months with UI benefits payment records for the last 3 Years, and in some cases wage records. A number of deported aliens (as high as 25 percent) had recent claims activity and, in some cases, claims were currently filed under the social security number of the deported alien.

http://workforcesecurity.doleta.gov/dmstree/uipl/uipl83/uipl_0683.htm

Sat, 03/05/2011 - 15:54 | 1022257 unununium
unununium's picture

Um, anyone who get UI benefits paid UI premiums.  So did their employer.

You make a good case that employers should do a better job policing who they hire.

Fri, 03/04/2011 - 21:07 | 1021091 ImNotExposed
ImNotExposed's picture

Always good to read a comment that is based on fact rather than emotion or abject stupidity. There's also the frisson at the thought of over-imbibing as well. Have a good weekend, yourself.

Fri, 03/04/2011 - 19:49 | 1020899 TwelfthVulture
TwelfthVulture's picture

This is just racist.

Fri, 03/04/2011 - 19:53 | 1020908 bob_dabolina
bob_dabolina's picture

It demeans my people.

Fri, 03/04/2011 - 20:02 | 1020940 Hollow_Point
Hollow_Point's picture

Why then, when you were in the senate, didn't you make a law to supply easy jobs for your people instead of easy financing for houses your people clearly could not afford?

Fri, 03/04/2011 - 20:29 | 1021010 bob_dabolina
bob_dabolina's picture

Because having a job and living in a house demeans my people. My people should not have to work, that is demeaning to them.

Fri, 03/04/2011 - 21:03 | 1021086 Yen Cross
Yen Cross's picture

Take your passive aggresive DO-Do some where else. Da bloshita! I don't play your crapola!

Fri, 03/04/2011 - 21:15 | 1021110 bob_dabolina
bob_dabolina's picture

I regrettably am disinclined to acquiesce to your request.

Most humble appologies.

Fri, 03/04/2011 - 21:29 | 1021134 Yen Cross
Yen Cross's picture

(Dis--inclined)   You understand  prefix and suffix? Aquiesse: A fragrance or candle to help me relax. Request. How does an acquiesent request pertain to a pronoun in first person? It seems to be an adjective or verb phrase/ NO?

Fri, 03/04/2011 - 22:53 | 1021269 Calmyourself
Calmyourself's picture

Wow, you are dumb..  You got industrial dumb down..

Sat, 03/05/2011 - 01:20 | 1021522 Fish Gone Bad
Fish Gone Bad's picture

Humor translates very poorly on the internet.  This looks like just some Friday night "sword play" from people who apparently really need a hug.

Sat, 03/05/2011 - 04:51 | 1021638 StychoKiller
StychoKiller's picture

Or, maybe they just need to get a room!  And no, I do NOT want to know who gets the handcuffs or ball-gag!

Sat, 03/05/2011 - 14:26 | 1022080 Yen Cross
Yen Cross's picture

Ok, I'll calm myself. It was a long week. More commodity based than industrial, though.

Fri, 03/04/2011 - 21:16 | 1021113 ImNotExposed
ImNotExposed's picture

Wow! "Da bloshita" conjures up about zero Google hits. That's like getting a Bacon Number of 9. You must be like 89 sheets to the wind.

Sat, 03/05/2011 - 14:22 | 1022074 Yen Cross
Yen Cross's picture

You actually Googled that? I'm impressed. Thanks for the compliment!

Sat, 03/05/2011 - 15:53 | 1022249 unununium
unununium's picture

The charts are clear, 5 percentage points were lost from the peak in the late 1990's to the beginning of the Obama administration. 

Since the administration took office, one more percentage point was lost.  It was lost in the first year, as the trajectory remained unchanged from 1/2009.  It stabilized in the second year.

The charts are clear. 

 

Sat, 03/05/2011 - 16:04 | 1022276 Yen Cross
Yen Cross's picture

Tarp, qe-1, qe-2 and light. Debt ceilings and godzilla government. Care to debate further?

Fri, 03/04/2011 - 20:21 | 1020987 nmewn
nmewn's picture

"It demeans my people."

Yeah, now Holder has that "little" ATF issue goin on south of the border that they were trying to lay the blame entirely on US citizens not more than six months ago.

Whoopsie, butter trigger finger...LOL.

Fri, 03/04/2011 - 21:35 | 1021146 pods
pods's picture

But there would not be as big of a problem to fix without the ATF being involved.

Make work program for the FEDs.

pods

Fri, 03/04/2011 - 23:04 | 1021178 nmewn
nmewn's picture

"Make work program for the FEDs."

Seems so...nice job huh?...our tax dollars at work.

"One e-mail noted, "958 killed in March 2010 ... most violent month since 2005." The same e-mail notes: "Our subjects purchased 359 firearms during March alone," including "numerous Barrett .50 caliber rifles."...

"Senior agents including Dodson told CBS News they confronted their supervisors over and over.

Their answer, according to Dodson, was, "If you're going to make an omelette, you've got to break some eggs."

http://www.cbsnews.com/stories/2011/03/03/eveningnews/main20039031.shtml

Edit;

And, because nobody asked (on this slight diversion from the topic at hand)...one of the guns that was allowed by the US government to go to Mexico was used to kill a US government employee who was trying to keep illegals from being robbed as they tried to enter our country illegally...some of the good guys were armed with & utilized non-lethal beanbags on orders...friggin insanity.

"But Terry's brother, Kent Terry, said the other agents who were there that night told him that they were instructed to use the non-lethal beanbags first. It's a policy that doesn't make sense to Kent Terry."

http://azstarnet.com/news/local/crime/article_681d29cf-845a-5aea-9f34-3837d70b8a31.html

 

Fri, 03/04/2011 - 23:11 | 1021302 Bananamerican
Bananamerican's picture

"There was so much opposition to the gun walking, that an ATF supervisor issued an e-mail noting a "schism" among the agents. "Whether you care or not people of rank and authority at HQ are paying close attention to this case...we are doing what they envisioned.... If you don't think this is fun you're in the wrong line of work... Maybe the Maricopa County jail is hiring detention officers and you can get $30,000 ... to serve lunch to inmates..."

 

This whole friggin' country is corrupt

Sat, 03/05/2011 - 00:20 | 1021423 nmewn
nmewn's picture

"This whole friggin' country is corrupt"

No...I've long held that we are fine...it's they who are pretty much fucked ;-)

Sat, 03/05/2011 - 01:24 | 1021528 Fish Gone Bad
Fish Gone Bad's picture

Alex, I'll take guns for $1000 </humor>

Fri, 03/04/2011 - 22:31 | 1021234 Michael
Michael's picture

Yeah and 52% of black babies aborted annually is not demeaning somehow?

Fri, 03/04/2011 - 22:51 | 1021266 nmewn
nmewn's picture

No one sees it because it's right in front of them.

Fri, 03/04/2011 - 23:14 | 1021310 dexter_morgan
dexter_morgan's picture

somewhere, hambone is smiling

Fri, 03/04/2011 - 22:58 | 1021280 Calmyourself
Calmyourself's picture

Yes, that is interesting isn't it..  Six months ago regular US citizens were selling guns to Mexican mafia members at gun shows according to ATF and now we find out the ATF is supplying the Mexican Drug mafias with straw purchased guns and not arresting them but letting the guns be used and distributed throughout the cartel with no possibility of ever confiscating them.  When does Sen. Grassley (may ethanol rust his tank) take down acting Director Melson and the rest of the rejects at ATF?

Sat, 03/05/2011 - 00:15 | 1021417 nmewn
nmewn's picture

From everything I've read most (this is a important distinction) of the arms comes from south of them through Guatemala via Honduras.

Texas and other border state Mom & Pop gun shops are not in the habit of stocking grenades, rocket launchers & bazookas that are being used by the cartels in Mexico...probably much to the surprise of the denizens of NY & LA...LOL.

What caught my interest in all this is when Hillary went off on a ridiculous tirade that 90% of the guns used in crimes in Mexico come from here (a lie) and then Mexico's President had the gall to stand in MY House of Representatives and berate my country.

What I discovered was that most of the "military grade" small arms (AK''s, M16's etc.) that were recovered after cartel crimes had one thing in common.

Most were not retail guns.

These can be an armory selling to a foreign country and then "someone" in that foreign country selling them to the cartels or direct sales and then theft from Mexican armories.

On Hillary's well publicized lie of 90% of drug cartel guns come from the US.

She was citing a report from Mexico's Attorney General who said they had recovered between 30,000 & 29,000 guns used in crimes in 07-08 respectively. Of those recovered, only one third were submitted by Mexico for a trace to source.

Of those, around six thousand total, according to ATF testimony under oath count, 90% were traced to the US, so it's 5,400.

We now know she either can't read or can't subtract which embarasses her present occupation I would say ;-)

But my theory is more sinister.

It is that she, or they, set about to prove that 90% of drug cartel guns come from the US...and this is what you get. 

Dead people. Dead public servants.

A theory to be sure...and I wear my bias against these people on my sleeve for their past actions, deeds & words.

Sat, 03/05/2011 - 11:28 | 1021843 DaveyJones
DaveyJones's picture

I can't believe Hillary is a lying hypocrite. I mean surely anyone who hung around her cheating husband for thirty years and then held herself out as a model strong woman would know how to be consistent. :/ 

Sat, 03/05/2011 - 14:24 | 1021985 nmewn
nmewn's picture

It's like a never ending nightmare of stupidity Davey...on both sides.

Bush came in as a social conservative and left as a conservative socialist...LOL...and I fully expect Barry, who came in as a marxist with a God complex, to leave as a mere mortal crony capitalist, kinda like Buffet...it's the theater of the absurd really.

Senator Grassley is another one, with his ridiculous pushing of ethanol subsidies through an Agriculture Department who's budget has bloated up 112% over the last ten years...straight out of our pockets to theirs.

A pox on both their houses until they get their act together...but the lay of the land is changing, as at least a discussion is being had about shrinking government and cutting budgets.

Removing their power to confer privilege on the select few, at the expense of all, is a good start...that means paring it's size back and the money they take out of the real economy.

Now, if we could just have something even remotely resembling an enforcement arm of the SEC, a realistic energy policy of independence and a few other things we might just pull this whole freedom thingy off ;-)

Sat, 03/05/2011 - 23:38 | 1022876 DaveyJones
DaveyJones's picture

it's like the cross dressing whore olympics

Fri, 03/04/2011 - 23:42 | 1021364 Estrella
Estrella's picture

We give our Border Patrol agent's beanbag shotguns and the ATF gives drug cartel members AK-47s. What am I missing?

Sat, 03/05/2011 - 00:11 | 1021405 High Plains Drifter
High Plains Drifter's picture

Its called United Nations, agenda 21. Its kind of a border but we are now under NAFTA , North American Free Trade Agreement. The new world order does not care about national identities and national borders, if it is not in their plan. If they did, the flow of mexicans would stop. As can be seen, nobody is doing anything about what is happening on the border because they don't care about it.

Sat, 03/05/2011 - 04:54 | 1021639 Confused
Confused's picture

Whats the bigger issue, illegals coming over, or jobs that were sent to china? Lets face it, the illegals aren't doing jobs that could have been outsourced (which American were).

Unless of course, you can figure out a way to have the Chinese do our manual labor as well........

Sat, 03/05/2011 - 13:11 | 1021927 Iam_Silverman
Iam_Silverman's picture

"Unless of course, you can figure out a way to have the Chinese do our manual labor as well"

How were our transcontinental railroads built?

Chinese coolies from the West and Irish immigrants from the East.

Funny, I was reading a story in the WSJ just this week that detailed how the unemployed were leaving Ireland in (relatively speaking) droves to find suitable employment elsewhere!

Sat, 03/05/2011 - 15:45 | 1022228 snowball777
snowball777's picture

Diaspora Redux

Sat, 03/05/2011 - 04:55 | 1021641 StychoKiller
StychoKiller's picture

From CBS.com:

For the past few weeks, CBS News has been reporting on a controversial operation by the ATF that may have helped put lethal weapons in the hands of Mexican gangs. CBS News investigative correspondent Sharyl Attkisson reports some of those weapons have been implicated in the death of a U.S. Border patrol agent.

 

While ATF was allegedly allowing Mexican drug cartels to be armed with assault rifles from the U.S., a special Border Patrol team in Arizona was fighting, in part, with bean bag guns the night of Dec. 14, 2010.

Fri, 03/04/2011 - 20:08 | 1020964 Yen Cross
Yen Cross's picture

Where is the Racism? I'm white telling my white friends, the FREE ride is done.

Fri, 03/04/2011 - 20:35 | 1021021 bob_dabolina
bob_dabolina's picture

If you're white and saying the free ride is done than that means you are a rascist.

Fri, 03/04/2011 - 21:18 | 1021116 Yen Cross
Yen Cross's picture

So I'm white? The supposed free ride, makes me racist? First of all learn to spell. Second of all,What is your interpretation of a free ride? I'm obviously speaking to a child, that is trying to gain wisdom. Wisdom is learned, not stollen, or taken. It equates, eventually into RESPECT. Waht is the bund relation to t-10s right now ? Clown!!!!!!!!!!!!

Fri, 03/04/2011 - 23:03 | 1021285 Calmyourself
Calmyourself's picture

Yeah, learn to spell!!  Start with "stollen" and progress to "waht".

 

When bitching about others spelling which is normally a poor excuse for an argument you may wish to use spell check...  You may also wish to quit being a racist.   The racism of low expectations is still racism..

Sat, 03/05/2011 - 02:58 | 1021590 Fish Gone Bad
Fish Gone Bad's picture

It is amazing how Caucasians get all butt hurt about being called racists.  As it turns out, Chris Rock put racism into perspective with his monologue on racism.  To paraphrase it, "Who is more racist, white people or black people?  Black people, because even black people hate black people"  http://www.youtube.com/watch?v=AzFTLKWvfE0&feature=related

 

Sat, 03/05/2011 - 14:40 | 1022109 Yen Cross
Yen Cross's picture

Chris Rock is a good comedian! He is, by no means a thespian. I don't hate anyone! Sometimes I intensely dislike though. Right now my dog is on my last nerve for shitting  next to my pool, and kicking it in. Caddy Shack style!

Sat, 03/05/2011 - 14:29 | 1022095 Yen Cross
Yen Cross's picture

Calm Yourself. Enough said!

Sat, 03/05/2011 - 14:42 | 1022117 Yen Cross
Yen Cross's picture

Waht (what is a Bund, and a T10?) How do they correlate?

Sat, 03/05/2011 - 18:35 | 1022242 snowball777
snowball777's picture

I'm white telling my white friends, the FREE ride is done.

 

You know Bush, Paulson, Blankfein, Dimon, Clinton, Rubin, Greenspan, Bernanke, Moynihan, Thain, etc ad nauseam?

Fri, 03/04/2011 - 19:54 | 1020909 Rainman
Rainman's picture

Looks like Boomer retirees is gettin replaced by robots and furreners in foreign lands. Showing up at a job is so 20th century.

Fri, 03/04/2011 - 20:14 | 1020971 Yen Cross
Yen Cross's picture

Looks) Like you need to speak English, and start supporting your constituents. Looks like you need to do something Tangible! Help your HOOD with Education, and FOOD, !!! Not worthless CD's! ( OUT)

Fri, 03/04/2011 - 21:08 | 1021092 Yen Cross
Yen Cross's picture

I show up for a job every day. I do it with class and Dignity. Not how deep I can build my watch turner. Get a real job, and quit selling things that kill people you scum.

Fri, 03/04/2011 - 22:39 | 1021245 ebworthen
ebworthen's picture

Work so most of it can be handed to the bankers for bounuses and to people that don't work or came here illegally?

That would make one kind of a dumb mule, no?

Sat, 03/05/2011 - 14:44 | 1022121 Yen Cross
Yen Cross's picture

Yes it would. You are correct. I own the business.

Fri, 03/04/2011 - 19:55 | 1020912 Bill D. Cat
Bill D. Cat's picture

When do they get revised downward ?

Fri, 03/04/2011 - 19:58 | 1020918 Misean
Misean's picture

Wow, pretty soon, no one will need to work.

Fri, 03/04/2011 - 20:07 | 1020957 glenlloyd
glenlloyd's picture

And therein lies the absurdity of the measurement. At some future point (on a long enough timeline) the unemployment moves towards (drops to) zero, since technically it's not a cumulative number.

The system goes as such: through the door, stay a year, then expelled into the 'other' metric (no longer headline count), then eventually you're pooped out the back door and you're no longer part of anything.

The measure will continue to be meaningless until there's some type of cumulative measurement.

Fri, 03/04/2011 - 20:17 | 1020976 mynhair
mynhair's picture

The timeline isn't that long.  Hence the absurdity.

Sat, 03/05/2011 - 15:56 | 1022261 snowball777
snowball777's picture

Dead seniors collect no paychecks.

Fri, 03/04/2011 - 19:58 | 1020922 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

Sorta like "inflation remains under control" or "new GM is much better"

Fri, 03/04/2011 - 20:17 | 1020978 mynhair
mynhair's picture

Sorta like 'I didn't have sex with that woman'.

Fri, 03/04/2011 - 20:53 | 1021068 hambone
hambone's picture

Sorta like ..."absent cheap energy, should be no problem feeding earths 7 billion mouths".

Oh, wait, that's from the future...sorry to jump ahead.

Fri, 03/04/2011 - 23:13 | 1021305 dexter_morgan
dexter_morgan's picture

darn people, there's your problem......

Fri, 03/04/2011 - 22:25 | 1021224 Yen Cross
Yen Cross's picture

I really like your input MynHair. Cats and people are a bit different. You have good input. What are your thoughts on the GAP (Sunday FX open) Lets say the 83.09 NFP spike into the 82.25-81.85 level? I'm on a 10 cent.

Fri, 03/04/2011 - 22:39 | 1021247 ebworthen
ebworthen's picture

You may as well go bet on the horses at the track...

Fri, 03/04/2011 - 20:00 | 1020927 Caviar Emptor
Caviar Emptor's picture

The engine of US economic growth is stalled after giant losses. Can't even keep up with population growth over 2 years into the business cycle. 

That's dramatic and extremely ominous because of the debt, public and private. 

It's also ominous for all those countries waiting for a US consumer boom. They're waiting and hoping but paying the price: that's why China's slowing, and other key countries as well. All those creditors not getting repaid

Sat, 03/05/2011 - 16:00 | 1022267 snowball777
snowball777's picture

Relax. It's all good. The top 1% have plenty of assets we can liquidate after their corpses are tossed on the pyre.

Fri, 03/04/2011 - 20:01 | 1020936 mynhair
mynhair's picture

Oh shit, I thought Steve was cured.

Fri, 03/04/2011 - 20:02 | 1020942 CrashisOptimistic
CrashisOptimistic's picture

Population growth is 1%/yr.  That's 280K/mo.  Only 150-200K boomers retire per month.

The boomer argument for reduced workforce participation is bogus.

Fri, 03/04/2011 - 20:15 | 1020972 mynhair
mynhair's picture

You neglect the number of rich fleeing daily.

Fri, 03/04/2011 - 20:23 | 1020994 nmewn
nmewn's picture

When 250k is outlawed, only outlaws will make 250k...LOL.

Fri, 03/04/2011 - 21:50 | 1021170 dexter_morgan
dexter_morgan's picture

To Illinois from up in the dairy air?

Fri, 03/04/2011 - 20:06 | 1020953 10kby2k
10kby2k's picture

Family values have become more important in last 3 years and one spouse or the other is choosing to stay home and augment our stellar public education system to keep us one step ahead of the chinese. 

Fri, 03/04/2011 - 20:14 | 1020970 breezer1
breezer1's picture

hold on . i think that what he really means to say is that it could have been a whole lot worse. how? i don't know but thats what the script means.

Fri, 03/04/2011 - 20:17 | 1020973 Heroic Couplet
Heroic Couplet's picture

The Bush tax cuts are still in place and have been for a decade. They do not work to create jobs in the US. ALL Congressional Republicans should be out looking for jobs, especially in Wisconsin. Take Faux, Rush, Sarah, Glennda Beck, show us exactly where the jobs are.

If they can't, they need to be called liars, to their face, voted out of office and kept out of office. We have to get to the point in this country that we confront Republicans, long, loud, and often, in front of their spouses and adult children, and call them LIARS.

Fri, 03/04/2011 - 20:20 | 1020986 mynhair
mynhair's picture

Thinking people realize how much worse it would be without those reductions.

Fri, 03/04/2011 - 20:20 | 1020989 NOTW777
NOTW777's picture

how can you come on ZH and spew george soros koolaid??

Fri, 03/04/2011 - 20:38 | 1021031 jomama
jomama's picture

for funsies

Sat, 03/05/2011 - 00:46 | 1021471 JW n FL
JW n FL's picture

+++++++++++++++++++++++++++++++++++++++++++

LMFAO!!!!!

Fri, 03/04/2011 - 20:25 | 1021000 hambone
hambone's picture

Come now Hero,

let's be fair...the Democrats suck dick, the Republicans perform blow jobs...they may do this service for differing payments but really, come on, they are one piece of shit collapsed political system run by lobbyists, special interest, and money. 

Pleazzzz, no more Dems did this, Repubs did that...no more discussion of the political system.  Period.  That time has passed.  Egypt, Libya, etc. are showing us how to perform real systemic change and it ain't at some ballot box voting for two parties that are really only two sides of the same coin.

Fri, 03/04/2011 - 20:45 | 1021050 nasa
nasa's picture

+1

Fri, 03/04/2011 - 23:18 | 1021315 Bananamerican
Bananamerican's picture

+2 and fuck hambone's junker...

Fri, 03/04/2011 - 20:49 | 1021060 Fred Hayek
Fred Hayek's picture

Thank you.

We're running a $1.6 trillion federal deficit this year and one party's response is to call for decreasing the budget $60 billion or 3 and change percent while the other party doesn't really propose to cut much of anything.  So, you've got one party that's 97% full of shit and the other party that's 100% full of shit.  I generally prefer the 97's but, with the exception of a few stray congressmen, the phrase "a distinction without a difference" pretty well sums up their relative merits in most ways.

Fri, 03/04/2011 - 21:14 | 1021106 jmc8888
jmc8888's picture

Cutting isn't the answer.

Wiping out fraudulent debt with Glass-Steagall IS.

Which would wipe out 100 percent of the fraudulent debt. Debt Haircuts (since sold at inflated values) all around.

Which means it takes care of 100 percent of the problem.

The answer IS NOT.....PAYING OFF FRAUDULENT DEBT.

Thus cuts....in terms of numbers and not WHAT THEY ARE, is ludicrous.

I'm all for cutting big defense, big wars, big bailouts, big giveaways to corporations...i.e. Prescription drug plan (complete bullshit), etc.

Cut those, and apply Glass-Steagall, and you'd see BOTH PARTIES are not doing their job 100 percent.  (and the upstarts who should remain nameless, but was started by a corporatists that rhymes with poke? 100 percent wrong as well.

We all know the fed is going to hyperinflate (barring revolution), why cut aid to the poor? (cutting all this to 0, WILL NOT change our fate)...so why BOTH sides are pushing for these 'tough choices', euphemism for 'fascist and uneeded bullshit sophistry', is idiotic, and selling your soul for not even a reason nor a benefit to that person, nor their ideology. 

It's fascist to cut spending on needed things, to pay off fraudulent debt.

Oh yes, Gov. Walker, Chris Christie, Barack Obama, and the rest of the fascist idiots don't get this.   

I know people are stupid, but at least when you sold your soul before, it actually EFFECTED SOMETHING.  Throwing people on the scrap heap for this collapsing system? Forgettaboutit.

 

 

Fri, 03/04/2011 - 21:30 | 1021130 hambone
hambone's picture

JMC,

I like it...reading Mishs daily rants on the unions is really old already.  No qualms that the unions stole Billions, but were letting those who stole Trillions get off scott freeeeeeeeeeeeeee. 

I'm all for tackling the unions, the unfunded debts in conjunction w/ taking back what has been stolen by the Pseudo Gov Street / Wall Street Financial Terrorists. 

Going after the minnows while the killer whales swim without concern aint gonna get it done.  Plus, all the food that would have gone to the minnows will instead be made available to the killer whales to ensure a continuation of their standard of living.

Fri, 03/04/2011 - 22:08 | 1021195 jmc8888
jmc8888's picture

Exactly.  Unions are good AND bad.  It all depends on WHO runs them.  If it's as a lackey for Soros, that's BAD.  If it is asking for higher wages so that the union can collect more (like an agent asking more for the player so HIS cut is bigger) than that ALSO is bad.  I'm sure there is many more as well.

But what they don't want to admit is most of the times, it's just a group of people, pooling their individual market weight to engage in an employment contract.

But given that the worker can get screwed otherwise, it's really a lesser of two evils, and if run well, those evils are very small indeed.  But they do exist. Just a bit overexaggerated.

Then even if what I said was wrong above, what's the overall impact? Like you said, billions versus trillions.  What the fight if we only have say 100 to fight, should we choose?  This would be ~#656,890.  (how people don't understand this naturally is beyond me)

1.4 quadrillion notional in complete fake shit = more than EVERY union worker in the WORLD has EVER made x INSERT LUDICROUS NUMBER HERE.

Of course, if the system is set up right, many of management's claims about being put at a disadvantage because of higher wages would be moot, if their competition couldn't as a result move their jobs overseas.  To me it is ludicrous for American employees to have to face undercutting by overseas sweatshops, as it is only a matter of legislation that allows such practices. (so why do people say get rid of unions AND keep free trade? because they are either complicit in the scam or utterly stupid.)

When the big stuff is over, part of keeping the system right, involves looking at ALL aspects that are for lack of a better word, 'bunk' that are/can pop up.  Keeping unions honest, while acknowledging their need when appropriate (because most unions come about because the workers had a legitimate gripe, only idiots forget this) is one of the $64,000 questions. But as one remembers, there was a show every weekday.  It's a lot easier to set it up than keeping it.  We seem to have trouble figuring out how to set it up, even though the ideas have been legislated before.  I'm not talking about inventing a new warp drive spaceship, just remaking a classic car, like a '64 vette. 

That rights the ship.  If we do this, Obama looks like a fool, Barney Frank, Pelosi, Reid, Schummer, Soros, etc all look like fools for wanting to print to pay it off.  The others, boehner, bachman, palin, newt, rush, whoever on that side +tea, look stupid because they wanted to cut to pay it off.

From there we can decide how the best way to achieve what we need to in order to not only survive, but thrive and prosper. I believe a perfect project that can create millions of jobs, plus in the end have something tangible (slated to be in short supply in a few decades) water via NAWAPA is a good idea. 

What businessman wouldn't want to overnight (or 2 day) their goods via mag-lev to Germany for a pittance compared to air freight?  (and less energy).

Plus since we need to be able to both turn energy into matter and matter into energy, i.e. fusion/fusion arc...we need to start that. 

What we need to do has either already been done, or already proposed.  We don't even really need to think it up.  We just have to find the political will to get it done.

But if the body politic doesn't know what to look for...it won't demand the right people.  Of course the tea partiers WANT to be patriots, but you can't be patriots, by foisting up just another bankster avenue.  There is a huge MASS STRIKE in spirit going on right now, and the tea party not only doesn't control it, it has NO CLUE it is on the wrong side.

They're going to get burned.  It won't be pretty.  But when they ditch the tea party, and become real, based on real ideas, the banksters won't have a chance.  As long as there is a tea party fucking up this dynamic by splitting it and feeding lies, there is no way a cohesive enough group will have

Everyone needs to hold their candidates to account.  Fuck Obama.  He needs to be impeached. I'm not playing a game, maybe the other side, still is? Otherwise I just don't see why (just like with bush) the other side continues to 'look the other way'.  

I'm keeping my promise....that if my side every got someone like Bush in, I'd rail on them in reality just like I did on Bush.  Well, tea partiers, Chris Christie, and Walker, Scott Brown...have all shown you their true colors, and who they REALLY serve.  I just don't get why people still support them. FUCK 'EM.  Be a patriot, and call them out. Otherwise these people are worthless. (but make sure you call them out on real things)

I'll keep working on this side of the aisle to wake them up.  But it still seems like the other side is still just 'playing'.

Fri, 03/04/2011 - 22:36 | 1021238 nmewn
nmewn's picture

"Well, tea partiers,..."

Fuuuccck!!!

Here we go again. We're doing the same damn thing!

Partiers have the same interests at heart PLUS shrinking the damn government back to normal size so it doesn't happen again to our children's children.

The third or fourth generation out...it will creep back in...it is what it is, it always does.

This is our time...right now...you shouldn't be denigrating what are your natural allies against statism...statism allows & promotes everything you are witnessing and abhor.

Follow whatever path you want just tell your side to clean up after themselves for a change.

Fri, 03/04/2011 - 23:09 | 1021300 dexter_morgan
dexter_morgan's picture

+

Sat, 03/05/2011 - 02:19 | 1021565 lewy14
lewy14's picture

you shouldn't be denigrating what are your natural allies against statism

There are many patches in this anti-statism quilt of ours which I abhor. (What they are, and what my own policy preferences and moral vanities are, does not matter.)

But the only chance that the anti-statists have is to unite.

Follow whatever path you want just tell your side to clean up after themselves for a change.

Exactly.

Sat, 03/05/2011 - 01:27 | 1021525 cranky-old-geezer
cranky-old-geezer's picture

I have a simpler solution: 

America is run by a criminal bankster cartel (maybe not criminal in legal terms, but criminal in moral terms). 

Since America is run by a criminal bankster cartel, we know how things are going to go, banksters looting everything they can ...legally too.  We know what the ultimate outcome will be, America ends up in 3rd world status.

Americans badmouth China.  But the Chinese government isn't allowing a criminal bankster cartel to loot the nation and people.  Banksters attempting it are executed.  Not put in prison.  They're terminated.

Sat, 03/05/2011 - 08:50 | 1021747 Korbin Dallas
Korbin Dallas's picture

One thing you're mistaken on re China.  The government is corrupt and it de facto forces people to in turn be corrupt to survive.  The only time you see news of corruption leading to executions or bone-breaking prisons is when they get caught.  Watch the news carefully, almost every big guy nailed for something eventually gets the corruption book thrown at them.  Because they all do it.

http://www.reuters.com/article/2010/08/03/us-china-urbanisation-protest-...

http://www.reuters.com/article/2010/11/04/us-china-land-protest-idUSTRE6...

http://www.chinapost.com.tw/china/national-news/2011/02/26/292594/China-...

Note the brevity of the last link.  The real story you need to find a Chinese person to get the news out.  This "minister" who was paid to act in The People's interests had related ownership in a fly ash operation used to coat high-quality steel rails for high-speed railways.  They discovered he used low-quality fly ash, reducing expected rail lifetimes from 50-100 years down to 20 or less years, while raking in millions.  He's a rag-to-riches story, if you care, and will now be a part of the prison b*tches in the years to come.

Everyone in China knows it.

Sat, 03/05/2011 - 05:06 | 1021645 StychoKiller
StychoKiller's picture

The alternative has been identified:

http://pixel420.com/pixel420/stateless/

How to get there, that is the question.

Fri, 03/04/2011 - 22:25 | 1021223 scaleindependent
scaleindependent's picture

Exactly!

Thanks JMC.

Sat, 03/05/2011 - 15:19 | 1022183 Greyzone
Greyzone's picture

Oh I agree we need to reinstate Glass-Steagall but even if we had never left Glass-Steagall we'd still face this crisis in entitlement spending going parabolic. But we MUST cut the budget. $3.7 trillion budget. $2.1 trillion in tax revenues. To close that gap via higher taxes means doubling every single tax bracket. If you pay 15% now, you'll pay 30%. If you pay 28% now, you'll pay 56%. If you pay 35% now, you'll pay 70%.

And this won't even reduce the debt! It just allows us to tread water. This also assumes that interest rates will remain eternally low, another assinine assumption by innumerate (mathematically illiterate) socialists. Current interest payments on existing debt are under $200 billion annually as I recall but if interest rates rise to historic norms, the interest cost rises to almost $600 billion. Oops! There's another $400 billion you have to cut or tax more to cover!

Entitlement programs are passing the knee in the exponential curve. They must be reformed or we collapse. Period. End of sentence.

If you fail to understand this, you must be the victim of public education. I mourn your innumeracy but your ignorance doesn't change the reality. Government spending is going to come down, either voluntarily or involuntarily. If it's voluntary we have some chance to keep a functioning society of some sort around us. If it's involuntarily, you'll get to watch most major US cities burn.

Take your pick. We left the easy choices behind years ago. Now it's a choice between bad and worse, and those the only choices you're going to get.

P.S. Oh, and NO MORE BAILOUTS for Wall Street. Wall Street can burn in hell as far as I am concerned. But entitlement spending still has to be reformed, radically.

Fri, 03/04/2011 - 20:59 | 1021079 Alex Kintner
Alex Kintner's picture

Exactly. Some conservative started singing praises about Gov Cristie (NJ) for beating up on teachers. I told him, yeah the only thing worse than these sell out Dems is the corporate whore Repubs. They are Looters, not Leaders -- All.

Sat, 03/05/2011 - 14:26 | 1022083 sun tzu
sun tzu's picture

Why are Rep whores worse than Dem whores?

Fri, 03/04/2011 - 23:28 | 1021336 Miss anthrope
Miss anthrope's picture

yes, was listening to some government economist talking today saying that houses haven't been this "affordable" in over 50 years.... never mind that it doesn't matter if no one can qualify.  Then seeing the above employed workforce graph I see how the affordable houses correlates with the number working!  Wow, now if we could just figure out how to put one car garages and one bathroom into those McMansions we could call the cirle complete!

 

I haven't voted since i voted for Perot .... he was right about the GIANT SUCKING SOUND of NAFTA and GATT. 

Sat, 03/05/2011 - 00:48 | 1021474 JW n FL
JW n FL's picture
by hambone
on Fri, 03/04/2011 - 19:25
#1021000

 

Come now Hero,

let's be fair...the Democrats suck dick, the Republicans perform blow jobs...they may do this service for differing payments but really, come on, they are one piece of shit collapsed political system run by lobbyists, special interest, and money. 

Pleazzzz, no more Dems did this, Repubs did that...no more discussion of the political system.  Period.  That time has passed.  Egypt, Libya, etc. are showing us how to perform real systemic change and it ain't at some ballot box voting for two parties that are really only two sides of the same coin.

********************************************************************************

 

PREACH BROTHER "HAMBONE!!!!" PREACH!!!!!!

Fri, 03/04/2011 - 20:25 | 1021001 Bernank Sheeple
Bernank Sheeple's picture

What are you trying to say? Take a breath HC.

Fri, 03/04/2011 - 20:29 | 1021005 Misean
Misean's picture

Rah rah...sis-boomBAH!--Go Team GO!

Is it really any wonder that the most important thing at government youth indoctrination prison camps are sports programs?

Fri, 03/04/2011 - 20:30 | 1021011 SilverFiend
SilverFiend's picture

You clicked on the wrong bookmark.  The Huffington Post was the next one on your list.

Fri, 03/04/2011 - 20:32 | 1021014 Cachao
Cachao's picture

Hey, leave Geddy Lee and the boys out of it!

Fri, 03/04/2011 - 20:37 | 1021025 Misean
Misean's picture

I concur. Sides, a Bastille Day would help morale!

http://www.youtube.com/watch?v=GW72Gmqjse4

Fri, 03/04/2011 - 21:13 | 1021105 Yes_Questions
Yes_Questions's picture

The most endangered species

The honest man will still survive annihilation...

Fri, 03/04/2011 - 23:32 | 1021345 Alienated Serf
Alienated Serf's picture

And the men who hold high places must be the ones to start...

Fri, 03/04/2011 - 20:39 | 1021040 nmewn
nmewn's picture

It's the growth of government spending that's the problem not "tax cut's".

Deficits and debt are a function of spending what is not there to spend, not of insufficient tax revenue.

Melt down much?

Fri, 03/04/2011 - 21:42 | 1021152 Backspin
Backspin's picture

Truth, like a ray of light piercing the darkness.

Fri, 03/04/2011 - 21:47 | 1021161 dexter_morgan
dexter_morgan's picture

Wait.....spending? that wasn't in the talking points I read......

Sat, 03/05/2011 - 11:38 | 1021851 DaveyJones
DaveyJones's picture

lending, spending you mean there's a connection? 

Sat, 03/05/2011 - 01:34 | 1021538 cranky-old-geezer
cranky-old-geezer's picture

But excessive govt spending is a symptom of a deeper problem, a central bank creating money out of thin air funding all that excessive spending.

 

Sat, 03/05/2011 - 09:28 | 1021763 nmewn
nmewn's picture

Exactly so.

The Fed was created by politicians. The end result is...unpaid for goodies doled out by the state that are used as bribes for votes, where the one being bribed is made poorer by accepting the bribe.

A complete circle of immorality...LOL.

People (right, left & in the middle) better understand the implications of "doing away" with the Fed...I do and I'm making ready for it...and it can't come soon enough for me.

Sat, 03/05/2011 - 05:13 | 1021648 StychoKiller
StychoKiller's picture

Decepticrats:  "We need to spend more on stimulus, we don't want to crush this fragile recovery..."

Republicons:  "We're gonna cut spending!  $60Billion oughta do it -- take that Decepticrats and deficits!"

Me:  "Buckle up and make sure there's an airbag in front of you (a Decepticrat or Republicon will do in a pinch!)."

Fri, 03/04/2011 - 21:27 | 1021127 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Barry Soeto wants to have sex with you. 

Fri, 03/04/2011 - 21:47 | 1021165 dexter_morgan
dexter_morgan's picture

Shouldn't you be in Wisconsin protesting, or something productive like that?

Fri, 03/04/2011 - 23:12 | 1021299 Calmyourself
Calmyourself's picture

Repeat after me, Government sucks private money and wastes it.  Private money in private hands seeks a return, these returns provide opportunity..

 

Think, long and hard, I can tell it will hurt, but you can do it..

 

Could this post be further from where it is supposed to be..

Sat, 03/05/2011 - 17:11 | 1022372 Yen Cross
Yen Cross's picture

Repeat after me! Godzilla government! Waste is just giant turd that is left behind. Be carefull Samonella AKA (Obumenlla) might get ya! It's really itchy in the beginning, followed by huge lesions to the BONE. The death knell, is amputation of the head to protect the(spending) bill writing arm!

Sat, 03/05/2011 - 14:23 | 1022078 buzzard
buzzard's picture

I can't believe there are still those who fall for the rep/dem left/right myth.

Sat, 03/05/2011 - 20:54 | 1022676 Yen Cross
Yen Cross's picture

I own a staple GUN./ My BAD!

Sat, 03/05/2011 - 16:04 | 1022274 snowball777
snowball777's picture

Tax cuts are an awesome idea, if the problem you have is that you're near 3% unemployment and want to get to 1%, but for helping out in the face of collapsed demand, they are Laffer-ble.

Fri, 03/04/2011 - 20:20 | 1020982 jmc8888
jmc8888's picture

Since a couple of pictures can be worth a thousand words, here is what Obama (and his faulty metrics) is trying to do.  (talk about mentally incapacitated)

 

  edit: well it worked in the preview.

Fri, 03/04/2011 - 20:22 | 1020990 mynhair
mynhair's picture

Is this supposed to be cows in a snowstorm?

You'll get it, eventually.

Fri, 03/04/2011 - 20:44 | 1021038 jmc8888
jmc8888's picture

Nah it was three great pictures from 'Top Secret'

I can get the links to appear though, just not show them automatically. (except in the preview)

http://www.flickr.com/photos/59681483@N04/5498277816/in/photostream/

http://www.flickr.com/photos/59681483@N04/5498277820/in/photostream/

http://www.flickr.com/photos/59681483@N04/5498277822/in/photostream/

Fri, 03/04/2011 - 21:46 | 1021159 dexter_morgan
dexter_morgan's picture

lol

Fri, 03/04/2011 - 21:02 | 1021044 hambone
hambone's picture

I think I see Obama in a dream sequence...fade out...fade in...Big O is smiling as he runs through the Congress giving high fives up and down both sides of the aisles (still in basketball gear from game w/ Jordan, Lebron, and former All-American NCAA secret service guards).  His plan to create or save 100 million jobs has been a rousing success and the economy is now a virtous circle of digital users - internet bloggers, TV watchers, iPhone and App creators, and iEverything everythingers.  That's it!!!  He's done it!!!  An entire economy based on sitting on your ass all day looking at screens and rapidly twittering, e-mailing, and responding to blogs (ZH will be turned from the dark side and feature prominitely in the new digital economy as a gardening site for merry homemakers - all previous ZH skeptics will be purged).

Dream finishes w/ Big O completing his 4th term (current law is changed to allow our dear savior to continue his good works) giving his farewell speech under Bush's Mission Accomplished banner to frantic applause.  He hands the reins back to our first woman co-president...Bush girls back in the House.

 

Fri, 03/04/2011 - 20:19 | 1020984 markmotive
markmotive's picture

...and here's another chart...showing real unemployment rate as calculated by shadowstats:

 

http://www.planbeconomics.com/2011/03/04/chart-the-real-unemployment-rate/

Fri, 03/04/2011 - 20:24 | 1020993 r101958
r101958's picture

Heroic....Pleeeeeeaaase......Enough with that socialist bullschmidt.

Fri, 03/04/2011 - 20:31 | 1021013 Strike Back
Strike Back's picture

But Under BUSH blah blah blah blah blah, Obama at least blah blah blah blah blah, fuck all of you fairness hating conservatives blah blah blah blah blah

Fri, 03/04/2011 - 20:38 | 1021024 tom
tom's picture

Too true, too true. And what's more the employed portion of the population would be a hair lower, about 58.3, if it were calculated with the more accurate estimate of total employment from the survey of businesses, instead of the much sloppier estimate from the survey of households.

But even if Obama is clueless, at least he's not a total blithering idiot who wouldn't recognize a clue if it bit him on the ass, like Bush was. Obama is making a big mess worse, but we shouldn't forget who made the big mess.

Fri, 03/04/2011 - 21:28 | 1021133 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Barry Soeto wants to perform fellatio on you. Call him quick.

Fri, 03/04/2011 - 21:44 | 1021155 dexter_morgan
dexter_morgan's picture

Well, at least Reagan can rest in peace finally - the lefty media machine has a new bogey man  so powerful that he'll causing things to happen for the next 20 or 30 years.

 

Yawn.......

Sat, 03/05/2011 - 00:39 | 1021455 Miss anthrope
Miss anthrope's picture

It is just so hard for me to believe there are STILL these people running around talking about democrats are better than republicans............... no republicans are better than democrats.............. It was the republicans fault....... NO, it was the democrat's fault.

 

If you are NOT a government troll, seriously, you should apply, I know they are hiring and you would be perfect as one of their partisan shills who still doesn't have a clue that they are all one big BOUGHT piece of crap.

Sat, 03/05/2011 - 07:47 | 1021713 docj
docj's picture

It won't end - not even total systemic collapse will end that ingrained, if not inbred, mentality.

Hell, there are people here who actually think I shill for one side (the Red Team, precisely).  If they only knew how laughable that is.  If anything, I'm shilling for the "bring-on the inevitable collapse and start the necessary rebuilding" side.  Wonder what the color of their shirt is?

Sat, 03/05/2011 - 15:58 | 1022266 technovelist
technovelist's picture

If anything, I'm shilling for the "bring-on the inevitable collapse and start the necessary rebuilding" side.  Wonder what the color of their shirt is?

That color would be white, of course.

Sat, 03/05/2011 - 13:22 | 1021949 Clycntct
Clycntct's picture

Bring back the "Four Minute Men"

http://en.wikipedia.org/wiki/Four_Minute_Men

And we think we are so smart Ha.

Fri, 03/04/2011 - 20:37 | 1021027 Aghast in Midlothian
Aghast in Midlothian's picture

What trolls do - distract from the issue at hand (no jobs) by tossing out emotional granades (racism)

Fri, 03/04/2011 - 20:42 | 1021047 nmewn
nmewn's picture

Well, at least "something" was done ;-)

Fri, 03/04/2011 - 20:50 | 1021062 poopyjim
poopyjim's picture

Nice head and shoulders pattern in chart 2...

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