Albert Edwards (And Goldman Sachs) On "The Biggest Scandal Of The Last Decade": Plunging Labor Force Participation

Tyler Durden's picture

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Rodent Freikorps's picture

Dear Foreign Dudes,

The debt my government is racking up, I will not pay.

Accept dollars at your own risk, and fuck you very much.


Rodent Six

snowball777's picture

Dear Ratboy,

We'll be more than happy to keep your companies' factories and spend the dollars we already have buying your neighborhood.


Foreign Dudes

Rodent Freikorps's picture

That's cool. How you gonna ship your goods? Hope it is by rail.

That's a nice container ship you have. Be a shame if something were to happen to it.

JW n FL's picture

I am a Pirate... and I am happy to be an active Pirate for the good of my Country.


Privateers and Mariners in the Revolutionary War

The 13 Colonies, having declared their Independence, had only 31 ships comprising the Continental Navy. To add to this, they issued Letters of Marque to privately owned, armed merchant ships and Commissions for privateers, which were outfitted as warships to prey on enemy merchant ships. Merchant seamen who manned these ships contributed to the very birth and founding of our Republic.

Comparison of Navy vs. Privateers in Revolutionary War

Rodent Freikorps's picture


Boarders Away! Bitches.


Patriotism and profits. It just does not get any better.

JW n FL's picture

sprinkle a little Killing in the name of God / Crusade and we will have well rounded lot looking for love in all the right places!

Rodent Freikorps's picture

Odin is pleased by slaughter.

scaleindependent's picture

Why is Odin pleased by slaughter?

mick_richfield's picture

Well, in *my* favorite interpretation of the Norse myths, it's because slaughter on the field of battle allows his Valkyries to collect the souls of warriors.  And Odin knows that, on the Final Day, he will need all the souls of warriors that he can get -- and it still won't be enough.

Ah, crap.  Now I want to read David Drake's Northworld series again, and I just finished it a few months ago.  :-(

Kayman's picture

A couple of dozen container cranes with problems would make privateering unnecessary.

snowball777's picture

We have convoys for that.

How're you gonna pay your sailors with NO SUGAR DADDY?

Rodent Freikorps's picture

Prize money.

What's ten percent of a loaded oil tanker worth?

snowball777's picture

About $30M, but you'll have to get through the 130mm laser-guided cannon shells to lay claim.

Best of luck!

AchtungAffen's picture

Nah, there'll always be enough unemployed Americans to transport containers of goods over logs, as they did with the stones for the pyramids. And they won't complain, else be they accused of "communism" by their peers. And if they complain enough, I'll drop a couple I-phones and GUNZ, and ready. Cheap labour by sheep will never have been so good. They have guns, they think they're free while pulling containers over logs. And if they get bored, there's enough shit for them in their iphones. Thank you Ben, Milton, Ronald for making my business SO COST EFFECTIVE.

Orly's picture

There is far more evidence that the massive stones in the Pyramids of Giza were poured in place from Imhotep's formula for concrete than there is for ever having been massive amounts of massive logs in the middle of Egypt.

Doesn't make sense.

Kayman's picture

Aw... Come on Orly

Now don't be pouring water on the Aliens done it theory.

masterinchancery's picture

Per Monte Python, "things could get broke."

LawsofPhysics's picture

Dear Foreign Dudes,


Yes, the neighborhood is happily awaiting your arrival.  Please stand by the "X" upon arrival.  See you soon.  Don't worry, just like Egypt we are, for the most part, an unarmed populace (;-).



lincolnsteffens's picture

When England ruled the colonies during the French and Indian Wars private ship owners were given commissions "To go forth as if in war". There was a formula for dividing what was seized between England and the privateers. There was also a formula to divide the privateer portion of the booty amongst the owner on down to the lowest rank. Great incentive to attack your foe, eh!

plocequ1's picture

Sounds good to me. Where do i sign up?

JW n FL's picture

TARP ='s $800 Billion Dollars ( )

10% Un-Employment, Cost to Carry... $1 Billion dollars a month...

20% Un-Employment, Cost to Carry... $2 Billion dollars a month... (ruffly)


The First (1st) Bailout of $800 Billion Dollars would pay for 15 plus years of Un-Employment Benefits, if 20% was the number...




The First (1st) Bailout of $800 Billion Dollars would pay for 30 years of Un-Employment Benefits, if the rate was 10%...


Since TARP... Trillions have been spent on Wall Street... the Broke Un-Employed people of this Country (the U.S.) did NOT! rob you blind. The Bankers did. The Lobby did. The Elected Dem's, Rep's and / or other(s) did rob you blind.


It is a Mathematical FACT! 1 + 1 does not equal PINK! it does equal 2.

Rodent Freikorps's picture

And the juggernaut of ObamaCare is still looming.

We are gonna implode.

JW n FL's picture

Obama Care... is a $6b lobby that pushed it through... the $6b didnt come from the Ghetto / Trailer Parks..


Obama Care... does pay out 60% of monies to Private Insurance Providers... Hence the $6b+ Dollar Lobby.


Obama is a Pawn, just like any other elected offical who see lobby monies.


Follow the money in all things.

chubbar's picture

Well, here's some more bullshit to consider. How can our congressmen and senators completely ignore the unconstitutional acts the Obummer (Bush as well) is guilty of perpetrating with this SPP nonsense? This is a fucking outrage. Where is the MSM covering this? Where are the senators demanding a vote on what is clearly a treaty?


The move toward a North American Union received another big boost last week as President Barack Obama and Canadian Prime Minister Stephen Harper met in Washington, D.C. to hammer out a deal on creating a common “perimeter” around the two countries while diminishing the role of the nations’ shared border and developing a biometric system to track North Americans.

The two leaders, touting the plan as a move toward security and prosperity, signed a four-page declaration supposedly committing the two countries to working together on a wide range of issues. According to news reports, the final agreement was the product of many months of work.

The meeting also resulted in the creation of a “Beyond the Border Working Group,” which will be charged with the declaration’s implementation and with reporting to the U.S. President and the Canadian Prime Minister in the next few months and on a regular basis after that.

“Security” and “prosperity” were, as usual, two of the main focuses. “To preserve and extend the benefits our close relationship has helped bring to Canadians and Americans alike, we intend to pursue a perimeter approach to security, working together within, at, and away from the borders of our two countries to enhance our security and accelerate the legitimate flow of people, goods, and services between our two countries,” the declaration states. It also praises the North American Free Trade Agreement (NAFTA) and the Canada-U.S. Free Trade Agreement.

“We intend to work together in cooperation and partnership to develop, implement, manage, and monitor security initiatives, standards, and practices to fulfill our vision,” the document notes, without a reference to the legislatures of either nation.

“We also recognize that cooperation across air, land, and maritime domains, as well as in space and cyberspace, our enduring bi-national defence [sic] relationship, and military support for civilian authorities engaged in disaster response efforts and critical infrastructure protection, have all contributed significantly to the security of our populations,” it says, adding that increased information-sharing and working with all levels of government and the private sector is high on the agenda. Bringing in third countries — Mexico, perhaps? — and international institutions is part of the plan, too.

Essentially, the declaration commits the two governments to work together on everything from health, security, the economy, terror, fraud, and pandemic preparedness to countless other areas where the U.S. government does not even possess constitutional authority to act within the 50 states. Constitutional constraints are not mentioned at all in the document.

The so-called “Agreement Between the Government of Canada and the Government of the United States of America on Emergency Management Cooperation,” last updated in 2008, will apparently be “a cornerstone” of the efforts. While not mentioned by name, the Security and Prosperity Partnership of North America, signed by the Bush regime with the governments of Canada and Mexico, bears striking similarities to the new deal.

Next, the document covers a new area: biometric tracking and identification of North American citizens. “We intend to work toward common technical standards for the collection, transmission, and matching of biometrics that enable the sharing of information on travellers [sic] in real time,” the agreement explains. The two regimes also “expect to work towards an integrated Canada-United States entry-exit system.”........................

downwiththebanks's picture

You act like the law matters!

They just installed a military junta in Egypt.

snowball777's picture

So you're a badass that can take on China, but Obamacare is gonna take you out?


Rodent Freikorps's picture

Don't have to "take on China." Just have to profit mightily and raise their shipping costs.


snowball777's picture

Somehow I don't see you and your buddies in a Zodiak with Lapua magni mounting a huge threat to a Sovremenny class destroyer.

Rodent Freikorps's picture

Warship escorts.

Sounds expensive. Mission accomplished.

China's navy sounds dangerous. When do you think they might move on to modern ships, or even build their own?

The Chinese People's Liberation Army Navy (PLAN) has two modified Sovremenny destroyers, delivered in December 1999 and November 2000. In 2002, PLAN ordered two more. The first of these was launched in April 2004 and delivered in December 2005. The second vessel was launched in July 2004 and delivered in September 2006.

Big ocean. I'm shaking in my boots.

snowball777's picture

$800B in reserves, all the factories, and all the rare earth minerals...they'll be able to afford it.

What do you think they want all that smelting coal from 'stralia for?

You: Somali pirate wanna-be.

And there was that little incident near San Diego...

Rodent Freikorps's picture

Yeah, seems they don't have very many resources close to home.

Lots of Somalis.

Of course, this is all theoretical since the US govt. likes the taste of Chinese dick, and will never issue the Letters of Marque.

You guys never get tired of that story, do you?

Declare war and test your theory. I am comfortable with that.

downwiththebanks's picture

"Obamacare":  a billion dollar giveaway to private insurance companies enabling them to murder their 'clients' and improve shareholder value more easily.

I'm surprised you're not a fan, Rodent:  after all, it legitimates the stripping by big Capital of what little wealth the 'useless eaters' have after the 40 year offensive against their wages and job security.

DaveyJones's picture

don't forget the drug companies.

lincolnsteffens's picture

Notice how the shares of medical related companies didn't tank after the health care billpassed. Notice how many new government and private sector jobs will have to be created to implement and maintain the 2000+ pages of regulation.

Government expansion is one way of making employment #s go up to sop up lost jobs. We don't mind paying a little more in taxes to help Uncle Sam employ more. After all, if we can't make enough to live on we can just apply for one of them new gov. jobs. I suppose, if it gets to be that all you slackers with regular jobs can't afford gov. burden, you can get a gov. job too. Then, we can all do off shore work answering telephones and doing paper work that Uncle Sam contracts out to the Indians and Chinese  Hey, life is good! 


Trimmed Hedge's picture

Who needs a job when you can just sit home all day and get paid for it by the government?



cossack55's picture

Huh. I thought that was my job. Who woulda thunk?

JW n FL's picture

Food Stamps / Un-employment Checks and Jerry Springer keep all the fat, stupid and otherwise engaged Americans entertained while the World ignores Gravity all around them. So yes our forefather would say we have ignored the obvious and will suffer the consequences of doing so.

cossack55's picture

But, since I spend all my time on the sofa with my laptop reading ZeroHedge, does that not make me an IT kind of guy?

Rodent Freikorps's picture

Cousin It?

Okay, I'll give you that one.

wisefool's picture

Trust me. I have done the math. A woman can have children by more than one man.

I did more research and I figured out that men do not want to have children by more than one woman. When Tyler grows up he will change the imagry of this site to Clive Owen instead of Brad Pitt.

DosZap's picture

All those that are currently receiving it, and the music STOPS.

Peace is the x-axis's picture


Consider the business plan:

"To complete the ruin of the industry of the [cattle] we shall bring to the assistance of speculation the luxury which we have developed among the [cattle], that greedy demand for luxury which is swallowing up everything. We shall raise the rate of wages which, however, will not bring any advantage to the workers, for, at the same time, we shall produce a rise in prices of the first necessaries of life ...  We shall further undermine artfully and deeply the sources of production, by accustoming the workers to anarchy and to drunkenness ..."


"The need for daily bread forces the [cattle] to keep silence and be our humble servants."


"...hatred will be still further magnified by the effects of economic crises, which will stop dealing on the exchanges and bring industry to a standstill. We shall create by all the secret subterranean methods open to us ... a universal economic crisis whereby we shall throw upon the streets whole mobs of workers simultaneously."

Compare GS comment -

" should welcome the fact that less people are in the "labor pool", as a percentage of the total population, than at any time in the last 26 years".

How welcome this fact is, greatly depends on who "one" is.

snowball777's picture

Anyone who doesn't want to spend the rest of their lives in gangland, for a start.

I hear the benefits aren't that great if you didn't already have a decent gig to begin with.

99 weeks and counting...

downwiththebanks's picture

Who needs a real job when you can just be a parasitical banker-gangster sucking the blood of productive workers?

vast-dom's picture

But UnN is NOT a SCANDAL because the CORRECT definition of UnN has built into it a variable which by default is vague. So the scandal is the original definition/term/metrics. 

Before God, Dog, and $ there was WORD.

The antediluvian conception of markets will implode but will the structural foundations mutate to serve Man or will Man be enslaved to eternally forage the ruins? 

Oh boy waxing so quasi Oswald Spengler on a Sat.

vast-dom's picture

Why work when billions of QE monies have been gifted and pumped into less than zero worthy causes in order to subsidize venal useless individuals? 

The system is a sham. I would enjoy working on the solution, but not before the whole place has gone up in a shitstorm (the only conditions for semblance of change).


snowball777's picture

We are a small band of highwaymen looking to expand into new territory.

We are looking for a good enforcer that can help perform crowd control duties.

Job description:

- Establish rapport with new clients

- Small weapons handling

- Crowd control


- Should have a commanding voice

- Understand dominator psychology

- Be willing to 'go the extra mile', if necessary


- 15% of all loot gathered

- This is a part-time job