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Attention Marxists: Labor's Share Of National Income Drops To Lowest In History

Tyler Durden's picture




 

Probably the most imprtant secular trend in recent employment data, one that has a far greater impact on the macroeconomic themes than Birth/Death and seasonal adjustment manipulated month to month shifts in the employment pool per either the household or establishment surveys, is the labor share of national income. In a 2004 paper from the St. Louis Fed, the authors make the following statement: "The allocation of national income between workers and the owners of capital is considered one of the more remarkably stable relationships in the  U.S. economy. As a general rule of thumb, economists often cite labor’s share of income to be about two-thirds of national income—although the exact figure is sensitive to the specific data used to calculate the ratio. Over time, this ratio has shown no clear tendency to rise or fall." It would be wonderful if this was true, and thus if the US population really had a stable distribution of income between laborers and capital owners. Alas it is dead wrong. In fact, as the latest note from David Rosenberg points out, the "labor share of national income has fallen to its lower level in modern history - down to 57.5% in the first quarter from 57.6% in the fourth quarter of last year, 57.8% a year ago, and 59.8% when the recovery began." And here is where the Marxist-Leninist party of the US should pay particular attention: "some recovery it has been - a recovery in which labor's share of the spoils has declined to unprecedented levels."

Like Rosie, Zero Hedge is not a marxist blog: quite the opposite, but like him we come to the same troubling conclusion: "extremes like this, unfortunately, never seem to lead us to a very stable place." We would go further: not only does the US already have the core elements, should one be so inclined, to provoke a (rather active) anti-fascist movement based on some interpretations of pro-corporatists policies adopted by the administration, but should another be so inclined, the country also has the groundwork in place for another neo-Marxist revolution: just take this chart, add some slogans, mix, and simmer. And who will be the natural enemy? Why only look at the great October revolution in Russia for ideas. History always rhymes.

 

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Sat, 06/04/2011 - 13:18 | 1339339 blunderdog
blunderdog's picture

You might be able to understand what I'm saying better if you stuck to what I'm saying, and stopped inserting whatever bogeymen you want to swing at.

I'm an anarchist.  I don't support the government's efforts to protect your property.  I *advocate* individuals bettering their own local environment in order to reduce the significance and power of the government.

We've had this little talk before. 

Now tell us again how much you hate Pelosi...

Sat, 06/04/2011 - 17:45 | 1339917 nmewn
nmewn's picture

"You might be able to understand what I'm saying better if you stuck to what I'm saying, and stopped inserting whatever bogeymen you want to swing at."

I might find you more coherent if you stuck with one position.

"I'm an anarchist...We've had this little talk before."

Horseshit, you're not an anarchist...but yes we have had a little chat before, about many things. Your elitism comes bleeding through on just about every post.

It may be "politically fashionable" to call ones self an anarchist as of late, but you're damn sure not or you would have the same reaction I hadto government coming into the kitchens of NYC restaurants and telling them what ingredients and how much of them to put into food...so I'm alling BS all over that.

You agreed (or at least condoned) with the state doing this and fining the ones who did not comply...I was vehemently against the state doing this...you were not. An anarchist would never support/condone this aggression against a private enterprise.

I can sit by and let downwithbanks throw his meaningless darts around because his posts have a value that is something less than zero...but with you I will not.

Explain how the state doing this (and you turning a blind eye) comports with you being an anarchist?

"Now tell us again how much you hate Pelosi..."

She's fucking stupid, what more is there to say or do than to heap the derision on her that she so richly deserves?

You sticking up for Nana now Mr. Anarchist and her insider trading info? ;-)

Sat, 06/04/2011 - 18:36 | 1340029 blunderdog
blunderdog's picture

I was vehemently against the state doing this...you were not. An anarchist would never support/condone this aggression against a private enterprise.

I'm opposed to it.  It's just not that important.

If you stop looking for a fight, you might GET SOMEWHERE.  Not everyone who agrees with some (or even most) of your beliefs is going to have exactly the same set of priorities you have.  We are *different* people, lad.  Honestly, you mostly come across as a ranting infant with anyone who doesn't agree with absolutely everything you say.

I know you're angry, so maybe this'll help:

http://www.youtube.com/watch?v=uV5ztdt2wdk&NR=1

Sat, 06/04/2011 - 19:26 | 1340114 nmewn
nmewn's picture

You oppose it but think it unimportant to take a stand on...so a little food tyranny is perfectly fine but a "collective" economic model is worth a determined rant...sure, ok.

I see your consumed with more childish nonsense aimed in my direction so I guess we're done here blunder...quite the elitist bed side manner you have there Doc, try not to suffocate your next patient with it so you'll have more returning patients. 

Later.

Sat, 06/04/2011 - 21:08 | 1340281 blunderdog
blunderdog's picture

You get as you give.  It's natural law.

Sat, 06/04/2011 - 21:33 | 1340341 nmewn
nmewn's picture

I'll take that...over whatever "fashion plate anarchism" you're attempting to peddle here with me.

You're going to admit (openly) you're not a true anarchist at some point blunder. Simply because you haven't thought it through.

Anarchism requires a society of responsible people. Which is, oddly enough, exactly what you accuse me & others of not being, though we are.

So, retreat back to your childish cartoons on Youtube and let me know if you come up with anymore pixie dust & unicorns regarding this simple fact about your fellow man ;-)

Sat, 06/04/2011 - 21:43 | 1340376 blunderdog
blunderdog's picture

I'm totally lost as to your point.  If you spent a quarter as much time expressing your ideas as you spent telling me what I believe, we might have a real discussion.

I have found most people are responsible, and are more than willing to do the right thing--in fact, they're actually MOTIVATED to do so.  The ones who don't want to do anything will generally stay out of the way of those who do, because it's easier to follow than to confront leaders. 

Anarchist society doesn't require *everyone* to be responsible.  Those who are irresponsible just don't do very well.  A lot of the structures we've constructed in today's society are intended to permit irresponsible people to ascend to the highest levels of wealth and/or political power.

That's not doing us any favors.

Sat, 06/04/2011 - 22:50 | 1340483 nmewn
nmewn's picture

"A lot of the structures we've constructed in today's society are intended to permit irresponsible people to ascend to the highest levels of wealth and/or political power."

Finally ;-)

So, what do we do with the corporate welfare mavens AND the generational EBT card holders infecting the host under anarchism?

This is a serious question...irresponsibility is to be punished, absolved or promoted?

Sat, 06/04/2011 - 23:50 | 1340570 blunderdog
blunderdog's picture

Guess we'll find out.  Just do your part.  Stop paying taxes.  Stop obeying government ordinances.  Stop calling the cops.  And most important, stop worrying about all that bullshit.

"They" are really not going to come for you, and as soon as 20% of the population is in the same boat we're in, things will change very dramatically and very rapidly.  Embrace the change.

You really don't have to worry about it--anyone with any sense sees this "empire" stage of US history is coming to an end.  It's just a question of whether you're out in front of the collapse or trying to keep up with it.

Sun, 06/05/2011 - 00:31 | 1340634 nmewn
nmewn's picture

Nice evasion of the question at hand. No sense in being pinned down with minor details involving Youtube, pixie dust & unicorns ;-)

You will be comforted to know I worry about nothing...I fear nothing or no one.

I am concerned about those who have not thought through the implications of what they preach as it has ramifications on all at some point.

And you shouldn't concern or worry yourself with what "part" I might play (if any)...it will be done as it always has been done...looking after what is dear to me, you should take care of yourself and yours.

Seeya

Sun, 06/05/2011 - 02:47 | 1340713 blunderdog
blunderdog's picture

It's not an evasion of your question at all.  I'm starting to get the impression you're kinda stupid.

When government cannot sustain itself, there ARE NO EBT holders or corporate bailouts.  Thus if you want to eliminate these horrible crimes and abuses, there's nothing to do but eliminate the government.

You ask ME how you should treat people based on what you consider their past crimes?  Do what you like.  It's your problem, not mine.  Revenge doesn't interest me.

Sun, 06/05/2011 - 10:31 | 1341098 nmewn
nmewn's picture

"It's not an evasion of your question at all."

Yes it was. To a question of what would we do with irresponsible people under an anarchist system you replied in essence;

"Guess we'll find out." and launched into how this system is coming to an end.

Fine, helluva system because it isn't a system at all. No law to hold a check on the powerful and step over the beggars in the street. Perfect...fucking nirvana...LOL!!!

"You ask ME how you should treat people based on what you consider their past crimes?"

I said nothing about crimes in that passage, the record shows it, you are seeing things that are not there...I'm beginning to suspect your sanity.

But...in your utopia there is no written law to go by, so there are no crimes or police (the state) or court (the state) or prosecutors (the state) or defense (the citizen) or jails (the state)...because no one pays for them to be in existence! If they did, that would imply some form of government wouldn't it?...elected or appointed.

Anarchy is fine on a small scale of responsible people...but 310 million people?...this is going to evolve into some sort of weird eugenics experiment conducted from a faculty lounge somewhere by your elitist thought process...I want no part of it, you're now classified by me as clinically insane doctor, it is you who are stupid.

Fin

Sun, 06/05/2011 - 12:39 | 1341270 blunderdog
blunderdog's picture

what would we do with irresponsible people under an anarchist system

You don't "do anything" with people.  They are their own problem, not yours.  You don't get to be boss of them.  Derp derp.

I'll do my best to ignore you from now on.  You're just an asshole.

Sun, 06/05/2011 - 13:57 | 1341444 nmewn
nmewn's picture

Works for me, you're an idiot who can't think past the end of his nose.

Sat, 06/04/2011 - 01:30 | 1338805 GoinFawr
GoinFawr's picture


blunderdog: excellent answer.
nmnewmnn: define `poor` now.

Sat, 06/04/2011 - 05:02 | 1338924 knowless
knowless's picture

poor is those who have no opportunity to find(earn) food without government assistance. those that are kept in a perpetual state of basic want so as to exploit for labor purposes.

muddied by social programs, but once the debt based economy collapses, it will be obvious who the "poor" are.

generally it has to do with the inability to acquire a skill, but this can easily be manufactured by constricting the labor market while social programming extols the virtues of fertility and motherhood so as to keep the birth rate high enough to keep the poor hungry.

poor=those priced out of entry level jobs/meaningful education by excessive birth rates.

Sat, 06/04/2011 - 05:14 | 1338925 falak pema
falak pema's picture

don't ask a hound dog to miaule like a cat...by definition only a pussy man is poor...so he is not worth thinking about...look up to those above and you'll see the blue sky...look down and you'll see the black hole of human failure...Jesus should never have been born in this world of the uber alles breed. Our souls are the image of our dreams...but that's an immaterialist thought and buys no PMs.

Sat, 06/04/2011 - 05:38 | 1338932 knowless
knowless's picture

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

it all relies on the mutual consensus of reality and acceptable behavior.

personal perspective is not the judge of objective reality, except through their interlocked existance/dependance.

the sky and pit are only through the lens of the individuals perspective, this cannot be expanded to the whole of humanity as a general principal.

although theoretically i agree with you, i can't put it into practice without the acceptane of a reality based on mutual acceptance(fact).

i would spell it miaowl, but what does the difference matter if we hear the same sound?

Sat, 06/04/2011 - 08:56 | 1339028 nmewn
nmewn's picture

Anyone who thinks they are "entitled" to someone elses labor is poor in more ways than one.

Sat, 06/04/2011 - 12:00 | 1339235 blunderdog
blunderdog's picture

In the USA, those people are "landlords" and "shareholders."

Sat, 06/04/2011 - 17:44 | 1339926 nmewn
nmewn's picture

I was thinking EBT cards.

Sat, 06/04/2011 - 18:39 | 1340037 blunderdog
blunderdog's picture

I know, I'm just pointing out that you apply your definitions pretty selectively.

Sat, 06/04/2011 - 19:34 | 1340144 nmewn
nmewn's picture

I feel the same way about all government subsidation...from solar panels to oil companies.

You clearly only see what you want to see and dislike being challenged on what you ignore right in front of you.

Sat, 06/04/2011 - 21:11 | 1340285 blunderdog
blunderdog's picture

If you really feel that way, join with the anarchists.  You don't FIGHT government.

You IGNORE it.

Sat, 06/04/2011 - 00:23 | 1338713 snowball777
snowball777's picture

Rich: mortgage, private school tuition, and caviar covered by coupon payments alone.

 

Sat, 06/04/2011 - 01:55 | 1338830 GoinFawr
GoinFawr's picture

"Free for those who can afford it, very expensive for those who can't."

Sat, 06/04/2011 - 14:14 | 1339344 thedrickster
thedrickster's picture

They can't and won't define rich, methinks they actually mean anyone well off enough not to be dependent.

I have met the enemy.

Sat, 06/04/2011 - 12:01 | 1339225 Quixotic_Not
Quixotic_Not's picture

Don't forget ol' Ronnie Raygun signing Amnesty for illegals in 1986 - Treason reload!

Ya all did know that FDR was Ronnie's hero, and that he started-out a (D) politeer, didn't ya?

Seems even today the hoodwinked know no better:

Actual Reagan numbers FYI:

California increased spending by 112% in eight years

Fed increased spending by 80%, debt by 187% and deficits by 112%.

80-187-112

Of course, Dumya & O-Blah-Blah make his efforts to loot for his bankster/politeer masters pale by comparison...

Sat, 06/04/2011 - 12:01 | 1339237 ISEEIT
ISEEIT's picture

Are you in school still? You clearly are as bright as a burned out bulb. Keep going for as long as they pay you if your soul can stomach it but at some point the bullshit is going to bite you back.

Fri, 06/03/2011 - 19:03 | 1337924 GeorgeHayduke
GeorgeHayduke's picture

Reagan let the Military Industrial Banksters take over and that was the beginning of the end. It's when wealth began trickling upward and that rate has increased ever since. Sure, they gave us a few bubbles to help build up those 401 K and pensions plans to act as a hidden cash reserve for future financial scams.

Yes, ALL presidents in recent times, both Dems and Repubs, have been scumbags and shills for the banksters, etc... However, Reagan was when the scam took it's strongest hold while the sheople voluntarily lined up for slaughter thanks to The Great Communicator.

Fri, 06/03/2011 - 19:11 | 1337954 IdioTsincracY
IdioTsincracY's picture

Correction:

The wealth never trickled up ....

it was pumped at warp speed all the way to the top ...... that's performance right there!

The problem was that the stupid marxists stopped it from trickling down ... you know!?!

Fri, 06/03/2011 - 19:46 | 1338043 GeorgeHayduke
GeorgeHayduke's picture

Oops, my mistake! You are correct. I was just trying to take it easy for the Reagan disciples that seem to be lurking around everywhere.

Sat, 06/04/2011 - 10:32 | 1339108 Vendetta
Vendetta's picture

+47

Sat, 06/04/2011 - 12:06 | 1339242 ISEEIT
ISEEIT's picture

Hey Valerie,

Go talk to the hand cause the people aren't listen'.

Go find your "genius" (he's on the golf course again, trying to figure out why the ball just won't respect his superiority).

Blah, Blah your bullshit up someone elses ass.

Fri, 06/03/2011 - 19:10 | 1337958 IdioTsincracY
IdioTsincracY's picture

By the way, speaking of great communicator:

http://www.youtube.com/watch?v=HsHXJr8tqP0

Fri, 06/03/2011 - 19:57 | 1338070 zaknick
zaknick's picture

Reagan was their shiny boy in Holly-wood during Mccarthyist persecution. When he confronted them, they almost killed him. Bush and the bankster gang where the real power and they did more than just that to this country.

Fri, 06/03/2011 - 20:24 | 1338137 Reese Bobby
Reese Bobby's picture

You are all "retards" (Hangover pronunciation).

What the fuck do Presidents have to do with anything compared to the Bank Cartel that controls our money supply and Government.

Johnson-Nixon-Carter-Reagan-Bush-Clinton-Bush-Obama = no difference.

Fri, 06/03/2011 - 21:33 | 1338340 FreeNewEnergy
FreeNewEnergy's picture

Beg to differ. Ronnie was extensively groomed by GE.

http://itemonline.com/opinion/x1248732980/Mike-Yawn-Reagans-pre-presiden...

It's well documented. There are other links, articles. 

Hope that helps.

Fri, 06/03/2011 - 21:51 | 1338397 Reese Bobby
Reese Bobby's picture

It helps me understand you have learned nothing after 6 weeks at ZH.

Good luck with that winning candidate you volunteer for in 2012!

Sat, 06/04/2011 - 09:04 | 1339032 Crassus
Crassus's picture

True, Reagan was GE's spokesman until he came out against the TVA calling it socialism. GE fired him. There's socialism then there's, socialism.

Fri, 06/03/2011 - 18:16 | 1337757 Quixotic_Not
Quixotic_Not's picture

I thought he (O-Blah-Blah) was gonna spread the wealth around.

He did you twit! To his banksters buddies and his politeer peers!

Jokes on you, Joe!

*Change You Can Bleed In*

Fri, 06/03/2011 - 18:06 | 1337747 Caviar Emptor
Caviar Emptor's picture

No...depression era lack of wage growth has nothing to do with the bad economy!

Krugman sez it's because we didn't have enough stimulus and we're doing a 1937! 

Maybe if we dole out another few trillion to Wall Street and a few other pet projects, we can't miss! It'll be party on all over again! 

 

 

Fri, 06/03/2011 - 18:09 | 1337748 TheGoodDoctor
TheGoodDoctor's picture

It will only get worse as inflation increases. Wages have remained flat since 1970. With the costs of housing, education and health care keep going up like crazy. When is the reset button going to be pushed?

Fri, 06/03/2011 - 18:07 | 1337756 spinone
spinone's picture

When we push it.

Fri, 06/03/2011 - 18:55 | 1337771 Quixotic_Not
Quixotic_Not's picture

'MeriKans couldn't even find the button, no less possess the balls the actually pull it!

Firearms are second only to the Constitution in importance; they are the peoples' liberty's teeth. ~ George Washington

 

No free man shall ever be debarred the use of arms...The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. ~ Thomas Jefferson

Oops!

No more patriots...

Fri, 06/03/2011 - 23:07 | 1338558 baby_BLYTHE
baby_BLYTHE's picture

Amen. I have read almost every word written by the founders. An amazing revolution; indeed!

Sat, 06/04/2011 - 12:10 | 1339249 ISEEIT
ISEEIT's picture

No way that is actually you, good taste in a pic though!

Sat, 06/04/2011 - 10:41 | 1339121 Vendetta
Vendetta's picture

its auto-triggered by the weight of corruption pressed against it.

Fri, 06/03/2011 - 18:10 | 1337749 Azannoth
Azannoth's picture

Does this account for the millions of illegals, or is their manual labour not counted ?

Fri, 06/03/2011 - 18:36 | 1337863 US Uncut
US Uncut's picture

Or what about our foreign subsidized UNEMPLOYMENT people?

 

http://www.bloomberg.com/news/2011-06-03/obama-said-to-consider-adding-u...

Fri, 06/03/2011 - 22:46 | 1338508 downwiththebanks
downwiththebanks's picture

Go back to Europe, you Land-Grabbing White boy.

The hemisphere went to hell when your kind began their raping and pillaging.

Fri, 06/03/2011 - 18:12 | 1337751 GeneMarchbanks
GeneMarchbanks's picture

I'm sure the time for social change is now. All economists (like Prechter) who pretend to have broad sociological "understanding" are not to be trusted.  

Sat, 06/04/2011 - 00:37 | 1338739 merehuman
merehuman's picture

contractor for 30 years, am now sleeping outside on concrete, learning about cardboard, eating at the mission with the loonies and other homeless. No housing leaves many of us without income. Still i refuse foodstamps and other government aid. hurahh , i have a shopping cart and am asked questions  by the police often now. Damn nice to get some attention!

Turns out i am still the happiest homeless person i have seen all day, and there are a lot of homeless.

Sat, 06/04/2011 - 10:42 | 1339123 Vendetta
Vendetta's picture

you have an internet connection in a van down by the river?  cool

Sat, 06/04/2011 - 18:22 | 1339999 Prometheus418
Prometheus418's picture

Big BS flag.

Fri, 06/03/2011 - 18:11 | 1337758 Dirtt
Dirtt's picture

The sooner this country accepts wage deflation - in conjunction with growing the Life Sentence Industry (Trumka & Banksters) - the sooner we recover.

Fri, 06/03/2011 - 18:11 | 1337773 TheGoodDoctor
TheGoodDoctor's picture

You can't be serious? If there is wage deflation everything will have to deflate since no one will be able to afford anything. They are only affording it now due to credit.

Fri, 06/03/2011 - 18:21 | 1337783 Quixotic_Not
Quixotic_Not's picture

Again, Welcome to the New Feudalism...

You, serf, must prepare to live accordingly!

Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined. ~ Patrick Henry

Fri, 06/03/2011 - 18:56 | 1337919 Al Gorerhythm
Al Gorerhythm's picture

Everything else is just frosting on a dog turd.

Fri, 06/03/2011 - 20:23 | 1338139 Reese Bobby
Reese Bobby's picture

"It can not be emphasized too strongly or too often that this great nation was founded, not by religionists, but by Christians, not on religions, but on the gospel of Jesus Christ!" - Patrick Henry

Fri, 06/03/2011 - 20:51 | 1338208 mr. mirbach
mr. mirbach's picture

illegal aliens = wage deflation

Wake up Sheeple!  That is exactly why there is no control at the border and CONgressional colamoring for "amnesty" or "guest worker" legislation!

Fri, 06/03/2011 - 22:47 | 1338512 downwiththebanks
downwiththebanks's picture

Go back to Europe, you genocidal land thief.

Your kind has fucked this hemisphere.

Sat, 06/04/2011 - 00:27 | 1338718 snowball777
snowball777's picture

chinese workers and the erosion of manufacturing in america == wage deflation (at least when you trade a $20/hr union job making something for a $7/hr job making burgers).

Sat, 06/04/2011 - 00:59 | 1338768 Yen Cross
Yen Cross's picture

 Miss the BLUE HELMUT!

          YEN CROSS!

   My Best to your loved ones.

Sat, 06/04/2011 - 00:25 | 1338723 US Uncut
US Uncut's picture

Recover? Recover to WHAT pray tell????? More of the same? Where exactly are you going with accepting a third world lifestyle for the majority of Americans?  You can't have that AND "recover" in the same sentence. Just not possible.

Fri, 06/03/2011 - 18:12 | 1337759 chet
chet's picture

Workers actually make things.  Our "American" companies want Chinese people to do that instead.

So we grow the financial sector where people produce zero which is tangible.  They move bits from one spreadsheet to another.  Running out of bits to move around?  The financial industry extends credit and then adds it as "money" to their spreadsheets.  Take a percent.  Create some more "money."

If workers wonder aloud what the fuck has happened to their earning power, call them communists.

God bless America.

Fri, 06/03/2011 - 18:15 | 1337776 TorchFire
TorchFire's picture

+ 100 Bravo!

Fri, 06/03/2011 - 20:55 | 1338221 mr. mirbach
mr. mirbach's picture

too bad there are so few US based manufactures - "Workers actually make things." name 3 things other than hamburgers, cars and military aircraft.

Sat, 06/04/2011 - 18:45 | 1340048 Prometheus418
Prometheus418's picture

Guilty on the military aircraft here, though we do other things as well.

Personally, I spend about half my time making surgical instruments, mainly prototypes.

In my town, to keep the list short, manufacturers produce:  Steel doors and windows, air filters for Caterpillar machines, Farm equipment, silica, beer, and (barbeque) grills.  There are also dozens of productive beef, dairy and produce farms.  That is a town of 3000 people.  If you move out to a larger area, we have 100+ precision machine shops, at least 20 sheet metal shops, 2 foundries, a circuit board manufacturer, hundreds of fabrication job shops, a couple dozen cabinet makers, a manufacturer of fire-engine pumps and a major furniture manufacturer.  How do we do it?  (drumroll.......) No unions.

Anyhow, just because it's not done on your block doesn't mean "we" don't make anything any more.  It just means that "you" don't.

That being said, we do need to bring a whole lot back to our shores to bring our country back from the edge.  Just tired of being ignored in these discussions- Wisconsin still makes all the stuff the rest of the US decided was not for them.  I can count on one hand the number of people I know who *don't* make something for a living- as a rule, we call those folks "unemployed."

Fri, 06/03/2011 - 18:09 | 1337762 scatterbrains
scatterbrains's picture

wow and this is before the pump and dump operation is completed.

Fri, 06/03/2011 - 18:24 | 1337813 cosmictrainwreck
cosmictrainwreck's picture

bizzaro world.... did ya see the bitches still try to goose at the end of the day (3:20 - 3:40) to squeeze out a few more fractions-of-cents on their fuckin' HFT's.... with a FAIL... assholes = too kind a word

Fri, 06/03/2011 - 18:09 | 1337763 Stuck on Zero
Stuck on Zero's picture

It can only happen with a continuously inflating currency.  Inflation drives all the wealth to the core.

Fri, 06/03/2011 - 19:09 | 1337829 Quixotic_Not
Quixotic_Not's picture

Can I has Unexpected for $800 billion?

A long habit of not thinking a thing wrong gives it a superficial appearance of being right." ~ Thomas Paine

Fri, 06/03/2011 - 18:09 | 1337764 TorchFire
TorchFire's picture

The sheep sleep. I would ask them if they were awake: Can you challenge yourself to discover the catalyzing aspects of atrocities past, present and threatening and the commonalities therein? Are you hiding behind the false security of casual denial, a victim of your own normalcy bias? Have you given sanction to evil by way of your ambivalence to emerging tyrannies? Do you find yourself to be distinct from the legions of past civilizations whose citizens sat passively as innocents were thrown to the lions or marched to the train stations?

 

Fri, 06/03/2011 - 18:13 | 1337781 Azannoth
Azannoth's picture

It's a myth the people 'sleep' and don't see what's happening, I'd say in 95% of cases it's willful ignorance, as long as they can collect their unemployment check buy a sixpack and watch some Big Brother(how ironic) the're content enough not to revolt

Fri, 06/03/2011 - 18:39 | 1337864 Vic Vinegar
Vic Vinegar's picture

Big Brother starts July 7.  I am looking forward to the new season – it’s a fun show.

Re: Sheep Sleep, what did our boy Aldous Huxley have to say on this matter:

“Most ignorance is vincible ignorance. We don’t know because we don’t want to know.”

As much as I wish he were not, he was right.  Why not listen to Al, stop complaining and consider if CBS is a buy?  Or at least enjoy Big Brother?

Sat, 06/04/2011 - 09:44 | 1339062 snowball777
snowball777's picture

Pride and dignity.

Fri, 06/03/2011 - 18:41 | 1337878 TorchFire
TorchFire's picture

"It's a myth the people 'sleep' and don't see what's happening....the're content enough not to revolt"

Well yes I agree in principal but you assume they would revolt under conditions that deprived them of their "comforts".  I am not so sure.

Fri, 06/03/2011 - 23:00 | 1338530 downwiththebanks
downwiththebanks's picture

And when they do wake up, you can count on the Banker-Gangsters at ZeroHedge to attack them with unprecedented vigor.

Fri, 06/03/2011 - 18:09 | 1337765 mayhem_korner
mayhem_korner's picture

Adjusted for food stamps, it's probably a push...

Fri, 06/03/2011 - 22:57 | 1338531 downwiththebanks
downwiththebanks's picture

Except it's not, you disgusting fucking shill.  Go back to hand-jobbing your Banker-Gangster bosses.

Fri, 06/03/2011 - 18:12 | 1337766 AladdinSaneGirl
AladdinSaneGirl's picture

Was thinking about the collapse of the Weimar republic today. If the dollar devalues much more, isn't a swing to the right also probable? Needs watching particularly re: QE3.

Fri, 06/03/2011 - 18:17 | 1337785 mayhem_korner
mayhem_korner's picture

Not necessarily.  Dollar crash will take out fiat-denominated wealth stores, but the impact on income levels (essentially wages) is more nuanced.  Wages have remained pretty flat while corporate coffers have remained flush with $.  That trend would have to break.

Fri, 06/03/2011 - 18:15 | 1337775 Id fight Gandhi
Id fight Gandhi's picture

All the work of the Jewish bankers

Fri, 06/03/2011 - 18:29 | 1337817 Quixotic_Not
Quixotic_Not's picture

Bad men cannot make good citizens. A vitiated state of morals, a corrupted public conscience are incompatible with freedom. ~ Patrick Henry

 

Arms discourage and keep the invader and plunderer in awe, and preserve order in the world as well as property... Horrid mischief would ensue were the law-abiding deprived of the use of them. ~ Thomas Paine

Fri, 06/03/2011 - 18:15 | 1337777 spinone
spinone's picture

Fri, 06/03/2011 - 18:18 | 1337791 Caviar Emptor
Caviar Emptor's picture

Yes, Biflation is what we have here folks, as I've been sayin' here on ZH for a while. 

Deflation? We got it. But not everywhere, not in Donald Trump's underwear. We got it in real wage growth and real net worth (plunging with housing). We're gonna get it in retirement benefits as the government cuts them. Yup, we got deflaiton.

If that were all we had, that would be one thing. But wait. there's more!

We got INflation too! We got it in the cost of living, the cost of working and the cost of doing business. It squeezes margins and it squeezes the middle class boy and girl into the working poor. The causes are several, but reckless stupid Fed tricks with expantionary monetary policy is a prime cause. There is an ocean of dollars floating out there and it's chasing too few goods in many cases. And after 3 decades of trying to export inflation, the chickens are coming home to roost

 

Lotsa Luck, sheeple!

Fri, 06/03/2011 - 18:19 | 1337795 Monedas
Monedas's picture

If you include government employees, contractors and entitlement recipients as part of the non-capital crowd....as you should...."Labor's" share of the national pie can't be going down ! The Socialists squeeze the producers then complain when they can't be as generous as government employers ? Government workers earn twice the pay and benefits of private workers ! There is your unfairness ! Monedas 2011 Monedas salutes his brothers and sisters of the "gay" persuasion who are dedicated to freedom ! He despises Barney Frank because he considers Barney an enemy of human freedom !

Fri, 06/03/2011 - 23:04 | 1338536 downwiththebanks
downwiththebanks's picture

What stupid, nonsensical propaganda.  The utter and total failure of CAPITALISM has created this Depression, and no amount of sophistry can erase that.

"Fuck my neighbor, it's all about me!"  

What a motto!

Sat, 06/04/2011 - 01:02 | 1338715 GoinFawr
GoinFawr's picture

"I`m all right, so fuck all the rest!"

I know it`s a bit ironic, but lately whenever I see people who live the above quote as their creed get royally fucked by some unforeseen circumstance, I've been deriving a bit of a sense of satisfaction from their suffering; it`s a guilty pleasure, I`ll admit.

Ah well, if the cross worshippers are right at the very least I'll be smoking a few turds in purgatory anyway, c'est la mort and all that cal.

Sat, 06/04/2011 - 01:17 | 1338784 Yen Cross
Yen Cross's picture

 I caught your post. Don't get me wound up.  Speak with 777.  He is ready to take the top of of life as we know it. Ya gotta settle that boy down! He is on FIRE!

Mon, 06/06/2011 - 11:50 | 1343418 GoinFawr
GoinFawr's picture

You seem to have a serial junker on your tail YC... it isn't me, just so you know.

Sat, 06/04/2011 - 09:27 | 1339045 VisualCSharp
VisualCSharp's picture

Are you mentally ill?

Sat, 06/04/2011 - 10:02 | 1339081 snowball777
snowball777's picture

The earn twice the AVERAGE pay, but that farce of a comparison is based on including every Wal-Mart greeter and burger flipper on the private side of the equation and every well-heeled MIC trough-lapper contracted through Xe on the government side.

Apples, mangos, kiwis.

The 'producers' share of tax revenue is at low-tide, slick; the big multinationals aren't being 'squeezed' by anything but congress-folk fondling their balls every couple of years.

You want to point some fingers over the shitty options available in private employment? Try looking at the mofos that helped ship every manufacturing job somewhere else and let the corporate cocksuckers repatriate on the sly for a piece of the pie.

Yeah, SS and Medicare are expensive for a graying race, but so is tromping around the desert lookin' for WMD and playing snipe hunter in AfPak.

 

Fri, 06/03/2011 - 18:21 | 1337801 Poofter Priest
Poofter Priest's picture

 

 

Short version.....the rich are getting richer.

Fri, 06/03/2011 - 18:24 | 1337823 IdioTsincracY
IdioTsincracY's picture

Very much so ... since the 80s .... Reaganomics, anybody?!?

Fri, 06/03/2011 - 18:24 | 1337824 Monedas
Monedas's picture

Shorter version....the rich are the beneficiaries of money taken by the threat of force (taxes) and yes they are consuming more of societies life blood every day !

Fri, 06/03/2011 - 19:06 | 1337843 Quixotic_Not
Quixotic_Not's picture

Remember that a government big enough to give you everything you want is also big enough to take away everything you have. - Davy Crockett

Well sheeple, are you happy with your chicken in every pot thinking now?

Well are you (D)&(R) suckers?

Enjoy your hopium & chains, I hope you dopes wear them well...

QN Out!

Fri, 06/03/2011 - 18:44 | 1337874 Monedas
Monedas's picture

Have a nice weekend !

Fri, 06/03/2011 - 18:19 | 1337805 Quantum Nucleonics
Quantum Nucleonics's picture

I'm skeptical that this data captures the income from small business owners.

Fri, 06/03/2011 - 18:26 | 1337818 hambone
hambone's picture

I'm skeptical there is income/profit from small biz owners to be shown!?!

Sat, 06/04/2011 - 00:39 | 1338745 merehuman
merehuman's picture

i was a small business owner

Fri, 06/03/2011 - 18:28 | 1337835 Caviar Emptor
Caviar Emptor's picture

You mean like those rich vegetable store owners that are being put out of business? 

Fri, 06/03/2011 - 18:35 | 1337860 chet
chet's picture

Business owners wouldn't be counted as "labor".  If they aren't counted here, the trend would be worse, not better.

Fri, 06/03/2011 - 18:26 | 1337821 chinaguy
chinaguy's picture

Long live the Banana Republic!

Fri, 06/03/2011 - 18:26 | 1337822 Caviar Emptor
Caviar Emptor's picture

In one week we got 2 comparisons to the Great Depression:

-This week's Case Shiller confirms that Housing's peak to trough decline during the 1930s has been exceeded by our 2006 to present decline! And back then it took 19 years for real estate values to return to peak in nominal terms. 

-And now we have confirmation that the decline in real wage growth also has topped the record. 

WE're settin' records!

Fri, 06/03/2011 - 18:24 | 1337827 Newsboy
Newsboy's picture

Workers of the World , Unite!

You have nothing to lose, but your chains.

(Are we at the inflection point yet?)

Fri, 06/03/2011 - 23:50 | 1338652 Hephasteus
Hephasteus's picture

The sociopath and psychopath have immunity to inflectious diseases. Paid t4 and t2 lymphocytes known as trolls.

Fri, 06/03/2011 - 18:29 | 1337830 deepsouthdoug
deepsouthdoug's picture

Bloggers of the world unite!

Fri, 06/03/2011 - 18:29 | 1337831 anti Oligarchy
anti Oligarchy's picture

Sometimes on ZH charts tend to come out that show a really big divergence but in reality are not much when looked at over time (single day EUR/USD for instance) 

 

But, this goes out over years, and the movement over that time is pretty dramatic.  I agree with the main statement, this can not lead us to anywhere good.  Either the banking class will take over even more or there will be a pretty serious revolution of one form or another.

 

My vote is everyone walks on their mortage at once.  Sure fire way to kill the bankster class.

 

 

Fri, 06/03/2011 - 21:43 | 1338363 FreeNewEnergy
FreeNewEnergy's picture

I've been doing my part for nearly two years, now. The banks are trying to run out the clock on SOLs on fraud, delaying foreclosures now that they've been found out.

I say that nascent insolvency creature overtakes them before they get to legal dispensation.

In other words, F them, as hard and as long as possible.

Sat, 06/04/2011 - 10:04 | 1339087 snowball777
snowball777's picture

Any idea how long those statutory limits are for their particular sins?

+777 on the real-ass-pounding-jail experience for the banksters; I'll get my bat.

Fri, 06/03/2011 - 18:29 | 1337832 Caviar Emptor
Caviar Emptor's picture

Ideal Service Jobs of the Near Future: 

-Butler, Parlor Maid, Valet, Lackey, Scullery Maid, Chauffeur, Bee Keeper

Fri, 06/03/2011 - 18:36 | 1337850 Poofter Priest
Poofter Priest's picture

 

Sorry but it appears that the bees have been outsourced also.

Scratch that last job.

Fri, 06/03/2011 - 18:35 | 1337862 Caviar Emptor
Caviar Emptor's picture

+1. Too productive, I guess

Fri, 06/03/2011 - 19:04 | 1337939 The Profit Prophet
The Profit Prophet's picture

Nope....death by cell phone (according to GW).  I tend to believe it. And we were warned...

"I'll take spots on my apples...just leave me the birds and the bees" Joanie Mitchell

T.E.I.N. everyone!

Fri, 06/03/2011 - 19:06 | 1337944 American Sucker
American Sucker's picture

More like prostitute, pimp, coke dealer, welfare scammer, gas thief, legbreaker, and three-card monte dealer.

Fri, 06/03/2011 - 19:11 | 1337953 Bill D. Cat
Bill D. Cat's picture

Sign me up for lackey . How does minion pay ?

Fri, 06/03/2011 - 20:49 | 1338201 Use of Weapons
Use of Weapons's picture

Bayer fucked all the beekeepers with http://en.wikipedia.org/wiki/Clothianidin

 

OOPS.

Fri, 06/03/2011 - 18:35 | 1337840 michigan independant
michigan independant's picture

If any one ever thought ZH was in that bent of mind of red it just shows how much they do not know and how quick they need to turn to the Letter. These effects to the Job market in the States started before many of you were born.  ZH has done a incredible service to inform only and you are the solution to logical solutions not them. One day it will change and you better have your house in order since it is getting to the point I cannot assist you anymore even by the force of will.  

Fri, 06/03/2011 - 18:34 | 1337856 Winston Were Wolf
Winston Were Wolf's picture

I can catch lightning in a bottle, and I have no idea WTF you just said.

Fri, 06/03/2011 - 20:35 | 1338164 Reese Bobby
Reese Bobby's picture

We wish your planet no harm...

Sat, 06/04/2011 - 00:53 | 1338764 Rusty Shorts
Rusty Shorts's picture

We wish your planet no ham...

Sat, 06/04/2011 - 01:56 | 1338828 Reese Bobby
Reese Bobby's picture

If I couldn't pistol hunt hogs and shove poles from their anus to snout to smoke 'em, well I don't like to think about it...

Fri, 06/03/2011 - 22:32 | 1338476 Hephasteus
Hephasteus's picture

Someone needs a vacation.

Fri, 06/03/2011 - 18:34 | 1337844 wannabe traitor
wannabe traitor's picture

1950-1960 looks to have been the best years. In other news......this is most def ubber BULLISH!!

Fri, 06/03/2011 - 18:59 | 1337911 Use of Weapons
Use of Weapons's picture

Fuck you.

http://www.youtube.com/watch?v=3cw27j2sRm8

http://www.youtube.com/watch?v=qSN0X1kDKlA&feature=related

It wasn't, for a whole lot of people. You know, the non-white/non-Christian ones.

Fri, 06/03/2011 - 21:16 | 1338299 chubbar
chubbar's picture

I wasted 5 minutes of my life just to figure out that you are a fucking idiot with no idea what you are talking about and no ability to match applicable youtubes with the topic at hand. Go post somewhere else where folks don't have the time to actually consider what you are saying. you'll be a king! Thanks, ZH readers.

Fri, 06/03/2011 - 21:43 | 1338364 Use of Weapons
Use of Weapons's picture

If you've not got the point that GNH has long been high for those eras in USA of ultimate consumer ignorance, then bye. Or that, really and truly, it has been argued that the USA should somehow return to those eras [cough.. seen Republican / Christian thinktanks recently] and that it's consumers would 'work' in that model...

 

Then you wasted two minutes of my life.

 

Need sources? We can do that.

Fri, 06/03/2011 - 18:34 | 1337846 Caviar Emptor
Caviar Emptor's picture

Here's IBD's take on the data: 

 

The past decade of wage growth has been one for the record books — but not one to celebrate.The increase in total private-sector wages, adjusted for inflation, from the start of 2001 has fallen far short of any 10-year period since World War II, according to Commerce Department data. Over the past decade, real private-sector wage growth has scraped bottom at 4%, just below the 5% increase from 1929 to 1939, government data show.

LINK

 

Fri, 06/03/2011 - 18:34 | 1337852 PhD
PhD's picture

Labor income?! We dont need no stinking labor income!

 

http://www.youtube.com/watch?v=P36x8rTb3jI

Fri, 06/03/2011 - 18:52 | 1337900 Monedas
Monedas's picture

Ever try to compute a welfare queen's hourly rate of compensation ! They don't even have to stand in line anymore ? The tricks and drugs they sell are off the books, too ! Monedas 2011

Fri, 06/03/2011 - 20:35 | 1338171 Reese Bobby
Reese Bobby's picture

You should not have been junked.  You make a serious point.  Now geet da fuk oft my porch or i'ze cut ya...

Fri, 06/03/2011 - 23:50 | 1338658 downwiththebanks
downwiththebanks's picture

Sort of like your derivatives casinos and expensed lap-dances, eh Banker-Gangster?

Sat, 06/04/2011 - 02:02 | 1338836 BigDuke6
BigDuke6's picture

i'm trying to enjoy these comments and you keep posting your verbal diarrhea.

Fuck off you dumbfuck!  unless you have something insightful to say rather than your painful repetitive nonsense.

Sat, 06/04/2011 - 02:18 | 1338846 Reese Bobby
Reese Bobby's picture

What BigDuke said...

Sat, 06/04/2011 - 09:40 | 1339060 downwiththebanks
downwiththebanks's picture

I understand that real history is a mother fucker to those living in denial - especially  to overprivileged, unskilled Banker-Gangsters.

Sat, 06/04/2011 - 10:44 | 1339125 snowball777
snowball777's picture

http://www.youtube.com/watch?v=OIlIL5pPFmY

in a sluggish economy
inflation,recession
hits the land of the free
standing unemployment lines
blame the government for hard times

we just get by however we can
we all gotta duck when the shit hits the fan

10 kids in a cadillac
stand in line
for welfare checks
let's all leach off the state!
gee, the money's..really..."great"

soup lines
free loaves of bread
5lb blocks of cheese
bags of groceries

social security
has run out on you and me
we do whatever we can
gotta duck when the shit hits the fan

Fri, 06/03/2011 - 18:39 | 1337865 VT_Republic
VT_Republic's picture

OBAMANOMICS is trickle up poverty

Fri, 06/03/2011 - 18:42 | 1337881 Winston Were Wolf
Winston Were Wolf's picture

You're a random sampling of the problem.

Fri, 06/03/2011 - 20:37 | 1338175 Reese Bobby
Reese Bobby's picture

Yeah!  We can have 100 angry black women picketing your business in 3 hours if you don't pay up!

Fri, 06/03/2011 - 18:43 | 1337873 Caviar Emptor
Caviar Emptor's picture

More Ideal Service Jobs of the Near Future:

-Radiation control expert, cucumber taster, jester, troubadour, juggler, acrobat, Groupon arbitrager, entre_maneur. 

Fri, 06/03/2011 - 23:59 | 1338668 Rusty Shorts
Rusty Shorts's picture

 - it's gettin sick ain't it.

Sat, 06/04/2011 - 10:52 | 1339135 Vendetta
Vendetta's picture

prostitution is a growth industry, figuratively and literally

Fri, 06/03/2011 - 18:41 | 1337877 jpritikin
jpritikin's picture

WHY ISN'T ZERO HEDGE COVERING BINARY ECONOMICS?

 

One widely overlooked way to empower economically poor and working people in market economy is to universalize the right to acquire capital with the earnings of capital. This right is presently largely concentrated, as a practical matter, in less than 5 % of the population. The concentration of the right to acquire capital with the earnings of capital helps to explain how people either remain poor or end up poor no matter how hard they work or are willing to work.

Binary Economics offers a conception of economics that is foundationally distinct from the economic theories presently employed by government, private enterprise, charitable institutions, and individuals to formulate and evaluate economic policy. Because it is foundationally distinct from classical, neoclassical, Keynesian, monetarist, and socialist economics, binary economics specifically offers a distinct explanation for the persistence of poverty, unutilized capacity, and suboptimal growth. First advanced by Louis Kelso, binary economics holds that (1) labor and capital are equally fundamental or "binary" factors of production, (2) technology makes capital much more productive than labor, (3) the more broadly capital is acquired with the earnings of capital the faster the economy will grow.

Most binary economists conclude that universal, individual participation in the right to acquire capital with the earnings of capital (the binary property right) is a necessary condition for sustainable growth, distributive justice, and a true democracy. Binary economic analysis reveals a voluntary market-based strategy for producing much greater and more broadly shared abundance without redistribution. Based on objective standards of (1) reasonable, workable assumptions, (2) internal consistency, and (3) plausible descriptions, predictions and prescriptions, binary economics should be considered wherever other economic approaches to growth, sustainability, development, investment, poverty, and economic justice are considered!

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=928752

 

Fri, 06/03/2011 - 19:10 | 1337959 NotApplicable
NotApplicable's picture

Because private property rights are already enshrined under the idea that "Thou shall not steal?"

Anyone can acquire capital if they are allowed to keep what they earn (or produce as an entrepreneur). Taxation, and other forms of government theft (services provided at the barrel of a gun, inflation, etc...) are what prevent the poor from capital accumulation (which is nothing but one's leftover savings after funding their needs).

Absent these barriers, anyone can create and accumulate wealth assuming they have the freedom to act on opportunities to meet others needs. I don't see a need to invent a yet another system known as "Binary Economics" to fix things. To me, it seems like yet another Marxist redistribution scheme reliant on the centralized force of violence to implement.

In other words, like Keynesian rhetoric, it's another perversion of the school of economics where the question "what is going on" is replaced by "what should be going on." Social sciences are not hard sciences, and should not be treated that way. Molecules behave with predictable certainty. Humans, not so much.

Fri, 06/03/2011 - 22:03 | 1338433 jpritikin
jpritikin's picture

Because private property rights are already enshrined under the idea that "Thou shall not steal?"

How does binary economics violate private property rights?

Absent these barriers, anyone can create and accumulate wealth assuming they have the freedom to act on opportunities to meet others needs.

Reality check? Unskilled label is paid so poorly today that even If I labor for a lifetime, I may not earn enough to buy a house, even a cheap fraudclosed house.

To me, it seems like yet another Marxist redistribution scheme reliant on the centralized force of violence to implement.

I encourage you to actually LEARN about binary economics before you spout uninformed criticism. The way binary economics redistributes capital ownership is by changing how money enters the system. Instead of money coming in through the Fed and government spending, money is to come in via individual retirement accounts. No confiscation of existing property is necessary or desirable.

Sat, 06/04/2011 - 10:42 | 1339127 tmosley
tmosley's picture

Who, EXACTLY, is laboring for their whole lifetime and is unable to afford a thousand dollars for a home in Detroit?

Here's a hint:  if you have money "coming in" from anywhere other than mines, then you have confiscation of property.  Sure, it is subtle confiscation, but the end result is that it drives up prices for everyone, and destroys purchasing power.

Don't come up with a "new" way for people to steal what isn't theirs and call it "economics".

Do NOT follow this link or you will be banned from the site!