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Charting 2010, Part 1: The Key Jobs Chart(s) Of 2010

Tyler Durden's picture




 

After a year of endless propaganda surrounding the imaginary jobs boom, which as we have been pointing out for months, is nothing more than the permanent transfer of full time jobs to part time, perhaps the one chart that captures the full effect of said "recovery" is the comparison of number of employees added by China's sweatshop behemoth FoxConn, which at 300,000 in 2010 was just under one third of all non-farm payrolls added by the entire United States in the same year! In other words, this year one company added nearly one third the total number of jobs as the entire world's greatest economy.

One thing is certain: China is very grateful that highly levered American consumers continue to be the key driver of Chinese employment and manufacturing growth (if the same can not be said about our own country).

And even with this meager job creation, the US unemployment rate is only 9.8%? But perhaps what should really concern pundits, is that the number of Americans employed in manufacturing is even lower: 9.3%.

The next chart demystifies the BLS "determination" process, and explains just how the real number of unemployed is 11.5 million over the official reading of 15.1: virtually double the number that serves as the input into the 9.8% November unemployment rate.

Furthermore, what should be truly depressing are the massive crowds of people at each and every job fair. These are the bulk of the people who are approaching 2+ year of unemployment.

As for who is doing the best and worst work by just having a job, BusinessWeek confirms that among those getting paid a lot of money it is only a matter of time before a substantial number will be forced to apply for jobless benefits (and EUCs ) and test the generosity of the US welfare state on their own terms.

There is more in this series, which we urge readers to read in totality at the following link. Tomorrow we will take a look at that arguably just as important vertical - money, and notably its "printing." 

Source for all charts: BusinessWeek

 

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Sat, 12/25/2010 - 17:33 | 829980 SwingForce
SwingForce's picture

In the immortal words of Frank Rizzo, "9/24/7", You guys work alot. Thanks!

 

Sun, 12/26/2010 - 05:22 | 830314 French Frog
French Frog's picture

I'm surprised not to see Waddell & Reed mentioned anywhere !

Sun, 12/26/2010 - 10:25 | 830377 revenue_anticip...
revenue_anticipation_believer's picture

Waddell & Reed = winner for 4 months straight, consistently outperforming $SPX, and no pullbacks the entire time....

Sat, 12/25/2010 - 17:34 | 829981 LeBalance
LeBalance's picture

It might be nice to contrast the number of FoxConn jobs times their compensation with the US jobs to gauge "quality" and not "quantity."

It might also be interesting to scratch one's chin and think about the total supply of labor in China versus the United States.  Lots more bods willing to "work" for much less.

In summary, I am not sure these "jobs [FoxConn:China]" can be compared to "jobs [Anywhere:United States]."

The overall economic situation may be comparable though. But then again comparing versus China (the US propaganda target par excellence and opponent to be in the next conflict) is a natural to continue stirring that pot.

Cheers  !

 

Sat, 12/25/2010 - 18:21 | 829997 Perseid.Rocks
Perseid.Rocks's picture

Word has it that China pegging its currency to the $$ for 2+ decades (not sure when it started) is what caused all the excess $$ in the world, which lead to our current predicament. On the other hand, not pegging to the dollar was causing 150 million Chinese to go jobless and probably without much food. Either way the outcome is bad.

I don't see how it's a USA problem though, the fact that China can't compete in global markets unless it warps its currency value.

Sun, 12/26/2010 - 12:43 | 830467 Seer
Seer's picture

"I don't see how it's a USA problem though"

You might want to lay off that crack pipe!

Did you miss the financial bubble, the housing bubble et al that created the global crack-up?  China was responsible just how? (other than to help fill all the McMansions with crap?)

Sorry, but you're blind (ignorance or biggotry induced?) to the BIG picture.  Those are evil Commies in China.  It's been the American Zionists goal to wipe out communism; the means is by co-option, jam capitalism down their throats and let them gag on it until they die (unfortunately this poison pill cannot be kept out of the greater global water supply, which means that the very instigators, the American Zionists themselves, are going to gag as well- blow-back, bitches!).

Thanks for playing!

Sun, 12/26/2010 - 15:20 | 830634 Jerome Lester H...
Jerome Lester Horwitz's picture

Damn...if it wasn't for those evil American Zionists forcing capitalism down the throats of unsuspecting foreign communist and socialist governments than the rest of the world would be unencumbered to finally successfully create that glorius Communist workers paradise that we have been thus far unfortunate enough to not have experienced in all of it's blissful glory.

Sat, 12/25/2010 - 17:34 | 829982 velobabe
velobabe's picture

where in the F U C K , is        m  a  r  l  a

Sat, 12/25/2010 - 20:32 | 830043 WaterWings
WaterWings's picture

This is n o t the open thread.

Meanwhile, Foxconn is pretty interesting - they even have their own propoganda teevee channel: http://en.wikipedia.org/wiki/Foxconn

Newly installed "suicide netting".

Sun, 12/26/2010 - 09:31 | 830382 MeTarzanUjane
MeTarzanUjane's picture

Marla got spooked by the spooks when they paid a little visit to her in Seattle.

Foxconn is not a mossad cover nor a goldilox holding company. A strong buy from the Cramer on Foxconn.

Their website was made for mossad-ecommerce.
http://www.foxconn.com

Steve Jobs consumed carcinogenic accelerators when he was trying to break off the Apple contract manufacturing relationship with Foxconn.

Why can't we get a heatmap?
http://online.wsj.com/article/SB125993225142676615.html#articleTabs%3Din...

Sun, 12/26/2010 - 11:13 | 830410 revenue_anticip...
revenue_anticipation_believer's picture

duplicate

Sun, 12/26/2010 - 11:15 | 830409 revenue_anticip...
Sat, 12/25/2010 - 17:40 | 829984 Chuck Bone
Chuck Bone's picture

Haha Airbus A380: the Icarus of the airline industry

Sat, 12/25/2010 - 17:52 | 829988 b_thunder
b_thunder's picture

A380 is flying again, isn't it?   Unlike 787...  Haha, who's got the last laugh so far?

BTW, i'd have no worries flying A380, especially after it's been proven than it can lend with a blown engine and more importantly a busted wing.  but i won't fly on a chinese-made airplane.  nor would i fly on carbon-fiber 787 which seems to be not just too ambitious of an engineering task, but with the corner/cost cutting approach (ousourcing) will be no better than a chines or a old soviet-built plane.

It will take many years of safe use and milions of miles flown to convince me to fly 787.

 

Sat, 12/25/2010 - 18:38 | 830008 bpj
bpj's picture

The 380 is indeed unsafe to fly, seeing how it is the duck in the shooting gallery in that terrorist need to pop its "never been jacked" cherry

Sun, 12/26/2010 - 13:14 | 830492 Eternal Student
Eternal Student's picture

Yeah, never mind the fly-by-wire software glitches that pop up from time to time. Not that the 787 is any better. Here's a recent article about its current woes:

http://seattletimes.nwsource.com/html/businesstechnology/2013713745_drea...

 

Sat, 12/25/2010 - 18:30 | 830004 RobotTrader
RobotTrader's picture

Eventually, jobs will recover and the unemployment bonanza enjoyed by many (many here in California have milked it for nearly years now) will be a distant memory.

One day the economy will be booming and people will be hopping from one job to the next in search of a 15% pay raise or a signing bonus.

It is already happening here in California, recruiters are going wild trying to find experienced commercial bankers to fill positions for Union Bank, Wells Fargo, Citibank, JP Morgan since these institutions have not had credit training programs for MBA graduates in over 15 years.

Sat, 12/25/2010 - 18:54 | 830014 Perseid.Rocks
Perseid.Rocks's picture

With the Fed removing all loss risk and profit incentive, there isn't any reason to invest in the real economy, and the resultant unemployment will eventually hit triple digits. The only job creator is the US Gov't, and it will go broke doing it.

Sun, 12/26/2010 - 03:05 | 830266 A Nanny Moose
A Nanny Moose's picture

Triple digit unemployment? Is this when all of the math of the book cooking comes home to roost, and we exceed 100% on paper?

Sun, 12/26/2010 - 14:40 | 830575 Perseid.Rocks
Perseid.Rocks's picture

It's when the only gainful employment is the local militia because they're the only ones with food (and you get the chance to kill bankers on sight). Surprisingly few politicians even know what's happening though. The Fed CONfidence game has been quite successful, but this isn't about positive sentiment or lack of liquidity.. it's about insolvency, lies, and multiple exclusive claims to the same assets.

Sun, 12/26/2010 - 11:23 | 830427 Ricky Bobby
Ricky Bobby's picture

"With the Fed removing all loss risk and profit incentive, there isn't any reason to invest in the real economy"

Von Mises would be proud of you. Wtf is so hard to understand about this concept. Actually to reject the economic truth is a CRIME. We live under the boot of a fucking Crime Syndicate.

 

Sat, 12/25/2010 - 20:10 | 830040 WaterWings
WaterWings's picture

You forgot your "LOL...."

Sun, 12/26/2010 - 00:03 | 830175 Cursive
Cursive's picture

 @Robot

recruiters are going wild trying to find experienced commercial bankers to fill positions for Union Bank, Wells Fargo, Citibank, JP Morgan since these institutions have not had credit training programs for MBA graduates in over 15 years.

Oh goody.  Jobs for bankers.  How are applications for mortgage originators doing?  This is not a sign of an improving economy.  It's a sign that nothing has changed.  You think A&P is still looking for help?

Sun, 12/26/2010 - 01:24 | 830223 Id fight Gandhi
Id fight Gandhi's picture

Cherry picking good talent at bad times isn't anything new.

You can hire on people for less.

Makes me think of the fake job posting companies do to make it look like they are hiring and doing better, with no intention of actually hiring. Just set that bar way high and pay way low.

Sun, 12/26/2010 - 01:57 | 830238 Vendetta
Vendetta's picture

exactly

Sat, 12/25/2010 - 19:39 | 830005 Salinger
Salinger's picture

|

Sat, 12/25/2010 - 18:57 | 830016 sockcutter moto...
sockcutter motorforker's picture

thanks for working overtime tyler!!!

Sat, 12/25/2010 - 20:02 | 830033 Sudden Debt
Sudden Debt's picture

The difference in Chinese and US employment and production costs is as following:

 

1. US production costs = 80% employment cost + 20% raw material cost

 

2. China production costs = 10% employment cost + 90% raw material cost

 

For the US and the total western world, to compete with China can do 2 things. Lower the employment cost and INCREASE the raw material cost.

By increasing the raw material cost, the ballance shifts from 20% to 40 or 50%. Also for China the total costs go up.

BUT! China has a extra cost! Logistics add another 100% on the product!

 

SO:

In order for US employment to recover we need the following things:

1. A strong rise in raw materials = Check

2. A strong rise in oil for transport = Check

People think the difference between chinese production and US production is to great.  But it isn't. The difference is NO MORE THEN 15% on average!!!

So if these 2 rise, China loses it's edge.

 

Also, people wonder why Silver is skyrocketing. Silver is commonly used in ELECTRONICS. so what way is the easiest way to strongly increase the raw material cost in electronics? Make silver dirty expensive! Silver imports can also be taxed 17%!!

SO if electronics come in, the US can't tax that to high because that would be "protectionisme". BUT they can tax the very expensive silver IN the electronics! The EU is doing something like this already. Look into the anti dumping laws! They talk of contents of the products not the products themselves.

So if raw materials AND oil go up really high, it will only take 1 decade to shift all the jobs back to the US and the EU.

And China knows this. This is why they try to stock as much as possible of raw materials. They will try to buy as much as possible to counter these efforts and keep their raw material costs down.

 

The third thing will be shipping that will skyrocket. Remember, almost every shipping company is bust right now and are stopping investments and building new ships. My guess is that in 3 years, the BDI will be well over 12.000 again. (I say 3 because ships are written off after mostly 6 years. The stop in investments is now ongoing already 3 years, so 3+3=6)

Also if you would subtract the exspensive oil from the BDI, the BDI would be arround 1350 right now!!

 

 So in short :  7 good years, 7 bad years*.

*this is year 3.

Sat, 12/25/2010 - 21:02 | 830069 redarrow
redarrow's picture

Your argument makes some sense and this is what the Fed's game plan might be. However, to think that jobs will come back may be a bit hasty because all the production (if it comes back here) means people over there (developing countries) will have fewer dollars to spare. So this means that companies here will be selling less there, which means, they will not need as many people as you think. Outsourcing, offshoring also means that we sell globally in exchange for shifting some jobs there. You cannot expect to sell your products to the world and also keep all the jobs. The world will not accept being a willing consumer for all of Americas production.

Sun, 12/26/2010 - 09:51 | 830095 gloomboomdoom
gloomboomdoom's picture

Value of Labor < value of fiat (bankster eyes)

Value of middle-class > Value of Fiat

Silver (not Gold) Standard!

Shut down the FED and use the real estate to house those displaced by its violence against the American middle-class.

Rape is not a sexual crime... It is a Violent Crime (I hope you don't think I am joking about this!!!)... bad family times.

its REAL estate= the FED's estate... not the homes of Americans

Sun, 12/26/2010 - 02:28 | 830249 Itsalie
Itsalie's picture

They tried that pony trick on Japan in the 1970s and 1980s - the brightest american minds were convinced that high oil and commod prices would kill japanese manufacturers by neutralizing its lower labour and capital costs in late 1970s and 1980s, hence bring back those jobs to good ol us of a. In fact the gap in wages were much smaller between us and japan than usa and china. They even succeeded in forcing the yen from 200 per USD to 90, and where are your jobs? Jobs were lost to Japan, then Korea, then Taiwan, then SE Asia, then India/China. And next would be jobs loss to Vietnam, Bangladesh, Sri Lanka, then Africa. 

If the fed has succeeded in its propaganda surrounding QE, it's to be seen in how they had turned usually sane people into suddenly believing that printing money is good for american jobs, and that includes congress and people on the streets. Nothing beats stirring up nationalism by targeting a bogeyman like korea and china, it works all the time - Iraq war, afghan war, Sep 11, axis of evil bush bullshit.

So for the nth time, QE is meant to monetize US debt, to inflate away US debt and to allow the banksters to continue robbing the middle class of us of a. 

Sun, 12/26/2010 - 12:49 | 830471 Seer
Seer's picture

Thanks for helping to restore my faith that there are others out there that can see the BIG picture!

Sun, 12/26/2010 - 03:19 | 830274 A Nanny Moose
A Nanny Moose's picture

Interesting game plan. I will think about this some more, but it sounds like lipstick on the pig of the competitive devaluation. At some point, people cannot afford food, and things get really ugly.

 

 

Sun, 12/26/2010 - 12:44 | 830468 Landrew
Landrew's picture

Do some home work! employment costs are less the 15% of total product here in the U.S.A.! What weird corporate management class did you take?

 

Sun, 12/26/2010 - 12:54 | 830476 Eternal Student
Eternal Student's picture

There's a simpler solution. Just remove Most Favored Nation trading status from China.

It's hard to justify granting MFN status to a country which fires an ICBM 35 miles from Los Angeles, orchestrates massive, and effective, computer security penetrations of financial and military sites, and then has the audacity to sell our T-bills to buy gold and silver.

Explain to me why they still have MFN? Oh, yes, the U.S. Chamber of Commerce. Busily selling out America in order to make a few bucks.

Sat, 12/25/2010 - 20:39 | 830054 Misean
Misean's picture

Jobs are overated. The Feral can just print me a paycheck. I promise to go out and consume.

Sat, 12/25/2010 - 21:39 | 830092 gloomboomdoom
gloomboomdoom's picture

EXPLOSIVE GREECE RIOT!

This one goes out to my fellow "bull" robo. Boobies and bullion bitchez!

http://www.youtube.com/watch?v=sMjQ-wke1VQ

(angry white people, duck for cover) (they might be Christians, just don't ask)

I am a white Christian male. Come touch my junk if you dare...

Merry CHRISTmas

 

Sat, 12/25/2010 - 21:47 | 830097 Instant Karma
Instant Karma's picture

I guess an economy based on building houses and financing them and buying and selling them was not sustainable. Nor is an economy based on financial planners and bankers.

If companies like Apple made their shit here, we'd all be better off.

We should have massive tarriffs on Chinese imports to make American workers more competitive.

But we also have to outlaw the fucking unions and the fucking government regulations which make American manufacturing completely uncompetitive.

Sun, 12/26/2010 - 13:03 | 830477 Seer
Seer's picture

Do this, do that, magic happens, then, POOF, everything's better!

If all the supposed jobs (which are mostly done by robots, but no one wants to admit it lest they realize that they're selling their future jobs out so that they can buy cheap techno crap, and that Karl Marx was right about the worker being displaced by the industrial machine) came "back," then what?  Who the heck is going to buy?  Those in the other countries that are now unemployed?  Or, what about about the over-indebted American?

Yeah, it's because of regulations, right...  Another person to fall for TPTB's propaganda.

Geez people, when the heck are you going to figure out that the game is up, that the petroleum-based party is coming to a close and our cupboards are bare?

Mon, 12/27/2010 - 01:09 | 831236 zeusman
zeusman's picture

Yes Instant karma - Brilliant fucking idea.  No government regulations.  Lets go ahead and spew toxic chemicals into the air, water and food supply like the Chinese and while we are at it, lets go ahead and work for their wages so we can be competetive.   You are a smart guy...

Sat, 12/25/2010 - 22:01 | 830105 SwingForce
Sat, 12/25/2010 - 22:13 | 830107 SwingForce
SwingForce's picture

Killing Yourself to Live: http://www.youtube.com/watch?v=T3BOWfGs6UE

Tony's blue suede shoes fuck you, SABBATH RULES!

Children.... http://www.youtube.com/watch?v=CK7SmG84ZFA&feature=related

Sat, 12/25/2010 - 23:20 | 830139 Misean
Misean's picture

OOOOO!  Cool! Haven't seen this before.

Sat, 12/25/2010 - 22:26 | 830114 Dan The Man
Dan The Man's picture

----

...."outlaw the fucking unions" ????

 

Zeig Heil! Instant Karma !

 

Burn all the books about organizing unions too.  That'll make management better.

 

 

Ijit.

Sun, 12/26/2010 - 13:30 | 830502 Seer
Seer's picture

Yeah, what the world needs, more managers, more Ph.D.s!

"The problems we face will not be solved by the minds that created them."
- Albert Einstein

Sat, 12/25/2010 - 23:08 | 830132 Cookie
Cookie's picture

entire world's greatest economy

This title is gone forever U.S.A.

Sun, 12/26/2010 - 13:33 | 830505 Seer
Seer's picture

And, a title based on pure BS, greed and corruption.  And many want to "take it back!"

Sat, 12/25/2010 - 23:26 | 830144 David99
David99's picture

Last time when China raised interest rates by 0.25 basis points on Oct 20, Dow went in red by -165 points and in coming week Dow -565 points

Sun, 12/26/2010 - 00:08 | 830178 slvrizgold
slvrizgold's picture

I'd gladly quit what I do and work for $10/hr turning Federal Reserve employees into lampshades and candles.   Good vigorous physical work is good for your mental and physical well-being.

Sun, 12/26/2010 - 01:09 | 830189 Oh regional Indian
Oh regional Indian's picture

Jobs.

Ahs anyone noticed the interesting little name connection of AAPL's CEO with this desirable thing?

The iBook of Job(s). Foxconn's largest customer, Steven P Jobs, is making many jobs for China. 

Hilar(it)y aside though, sitting in the belly of a developing beast, these jobs, which American's want back so badly, are pretty hellish. Slave to a conveyer belt.

There was a news story here, in Nokia's biggest plant about how a feed station on the belt had it's emergency off button bypassed due to occasional glitches.

Then it happened, young woman's hand and then her  hair and neck were in. But she was alive.

And no one, not one person dared to pull the plug, for fear of management wrath. She died, right there, head in feed station.

And you want this back to your shores?

Just imagine, the other way was for the US, full of really skilled folks (especially in engineering) could have turned themselves to making the highest quality products in the world. Hand made, low volume masterpieces. Micro companies, locally everythinged.

But it was not meant to be that way. Jobs went out and sheeple were just fattened on the tech and then the housing boom.

It is still possible by the way. Start making "lifetime warranty" products again and watch ever broker people make a bee-line for your wares.

Time to kick the stool out from under the corporation's legs and let it hang.

Stop consuming like pigs. Start making like masters.

ORI

http://aadivaahan.wordpress.com

 

Sun, 12/26/2010 - 01:59 | 830241 trav7777
trav7777's picture

it's critical to remember that these jobs can be done by decently-paid and treated people.

Germany is proof of this.

The issue is CORPORATE PROFITS.  Outsourcing means more money for executives and management.  It does not mean lower prices for consumers.  It never has.

Prices have not gone down as a result of decreased labor margins, profitability has gone UP.  This is what has led to the obscene CEO pay multiple.

Those who say the executives "earned it" are full of shit.  All they did was outsource to slave labor camps like Foxconn and pocket the difference in wages paid.  They didn't lower prices nor increase dividends.  There has been NO BENEFIT whatsoever to the USA for free trade.  All the morons who keep crying their Smoot Hawley epithet bullshit should understand that nations like Japan and Germany are wantonly protectionist yet still manage to pay union labor decent wages and their economies have not cratered as a result of higher-cost labor.

The entire notion that we must race to the bottom is bullshit fed to us by an executive class wanting to maximize its take.

Sun, 12/26/2010 - 03:00 | 830263 Oh regional Indian
Oh regional Indian's picture

Could not agree more. 

By the way, the US is wantonly protectionist too. Especially in agriculture. Imagine th eday ag subsidies go away in the US. May-hem!

ORI

Sun, 12/26/2010 - 09:41 | 830392 Greenhead
Greenhead's picture

It is more complicated than greedy corporate execs.  The economy is more than a few Fortune 100 companies.  As a nation we don't want to compete.  We want to be protected from competition, that is why we have so many regulations which discourage new entries into different businesses.  We can call it the EPA or the FLRB or minimum wage or the need to subsidize ag or other businesses but the effect is the same.  Higher costs, protected few, less competition.  I love the quote attributed to Thomas Edison and I'll paraphrase it " When opportunity knocks, it is frequently dressed in overalls and looks a lot like work."

Sun, 12/26/2010 - 11:13 | 830425 Miss Expectations
Miss Expectations's picture

Edison was a thief and a shameless self-promoter (among other things).

Sun, 12/26/2010 - 12:10 | 830452 Ricky Bobby
Ricky Bobby's picture

+10

Sun, 12/26/2010 - 13:58 | 830520 Seer
Seer's picture

BMW is an excellent case, and BMW is BMW because they're pimping to the upper-class and, as such, their overall growth potential is pretty limited (relegated to the small, and shrinking, upper-class).  This is Germany's niche: hm... to serve the upper-crust of its conquerors?

I don't know how stock works over in Europe, what the "profit" sharing is like say for BMW, but chances are that it's not as over-reaching as here in the US, where the motto/instruction is, to borrow a comment from Earl Butz (sec. Ag under Nixon)- Get Big or Get Out.

Further, it would be interesting to see how labor formed post WWII, during the reconstruction period.  Was it all the workers, cheap labor, that picked Germany out of the trash heap, or was it a cleansed debt slate (not sure what the post-war economic dealings were), or a combination of both?

To state that Germany is successful therefore the US can be as well is, at best, a "hopium" kind of statement.  If one really thought that this was possible then one would have  to identify how Germany achieved its current position, and then it would require assessing whether the same model/mechanisms could be applied to the US.

Personally I don't see Germany's economic future as being very strong, but that's just my "hunch" (it's the same hunch I have for ALL countries because it's the global economy that's blowing out due to resource exhaustion).

Mon, 12/27/2010 - 01:15 | 831238 zeusman
zeusman's picture

VERY WELL SAID trav7777.  Finally someone on the board with some common sense!   Great example about Germany.  Manufacturing juggernaut with companies that actually pays a decent wage to their workers.   Heaven forbid a guy making a decent wage on the manfucturing floor here in the US - Operatives of the far right are insensed. 

Sun, 12/26/2010 - 12:10 | 830451 Ricky Bobby
Ricky Bobby's picture

I believe there is some genius in your words sir.

Sun, 12/26/2010 - 01:01 | 830201 Caviar Emptor
Caviar Emptor's picture

Jobs won't come back to America because nobody wants 'em. Fat lazy Americans on Food stamps and rich lazy Americans on dope don't want 'em. That leaves the shrinking middle class, who've figured out that the economy penalizes income earned from work over income earned from capital invested in China and the developing world.

So China can keep all the jobs. The Business of America is Shopping!

Sun, 12/26/2010 - 01:13 | 830215 Oh regional Indian
Oh regional Indian's picture

Spot on CE.

+24X7

 

ORI

Sun, 12/26/2010 - 14:05 | 830537 Seer
Seer's picture
THE AUTOMATION JOBLESS

http://www.time.com/time/magazine/article/0,9171,828815,00.html

Outsourcing Not the Culprit in Manufacturing Job Loss (Automation World)

http://www.automationworld.com/webonly-320

Sun, 12/26/2010 - 20:35 | 830993 SilverBaron
SilverBaron's picture

Every decent job that gets posted has long lines of applicants.  The sad part is that none of the people in line have a chance.  The job will go to a family member or friend of the person who posted it.  They just post it to make it look legit.

Sun, 12/26/2010 - 01:19 | 830218 deepsouthdoug
deepsouthdoug's picture

I've done my best to live the right way
I get up every morning and go to work each day
But your eyes go blind and your blood runs cold
Sometimes I feel so weak I just want to explode
Explode and tear this whole town apart
Take a knife and cut this pain from my heart
Find somebody itching for something to start

 

Amazing thing is that these lyrics are about 30 years old. 

Sun, 12/26/2010 - 02:10 | 830244 Rodent Freikorps
Rodent Freikorps's picture

What does it say about the world, that in the 21st century slave labor is a growth industry?

Sun, 12/26/2010 - 13:58 | 830525 Rogerwilco
Rogerwilco's picture

@rodent

Slave labor worked fairly well in the 17th and 18th centuries. Indentured servitude is alive and well today, even in the USA. We've found clever ways to hide and rename it so it's politically correct.

Sun, 12/26/2010 - 08:43 | 830368 The Alarmist
The Alarmist's picture

I was watching my wife re-pack something I got her so I could return it (wrong colour), and she could not get the re-packaging right, to which I could only say, "You will never cut it as Chinese slave labour."

We are doomed ... Merry Christmas.

 

Sun, 12/26/2010 - 11:02 | 830416 RobotTrader
RobotTrader's picture

Some of these stocks are at the "Do or Die" point.  We'll watch to see if these Cramer mo-mo screamers break down or simply continue accelerating 1999-style.

 

Jim Cramer's "Mad Money"Jim
Cramer said this market is filled with investors who are trading with
one foot already out the door
. But that lack of faith, he said, means
there is money to be made.

Take Akamai (AKAM), said Cramer, a stock that
ran up on Friday on takeover speculation, only to get hammered Monday
when a bid did not miraculously appear over the weekend. Cramer said
Akamai is an earnings story, not a takeover story, and that means
investors received a great holiday gift in Akamai.

Likewise with Acme
Packet (APKT), another Cramer favorite. He said this dynamite company
was down some $2 a share Monday, on no discernible news, yet no one
defended this hot stock that's up 400% for the year.

Next, Cramer said the underlying thesis behind
Netflix (NFLX) is still intact, but the bear arguments are worth looking
into. He laid out the bull and bear case for Netflix. Cramer said most
short sellers of Netflix simply don't understand the company, or its
stock. He said after dropping 30 points, Netflix is a lot more
attractive than it was at the beginning of December. Cramer said after
recommending trimming positions on Dec 1, he now feels it's safe to
begin accumulating shares on weakness. He said CEO Reid Hastings public
defense of his stock is welcome news, and he no longer worries about
Netflix CFO's recent departure.


Sun, 12/26/2010 - 14:09 | 830541 Seer
Seer's picture

Perhaps we be more concise by restating "money to be made" to "currency to be made?"

Sun, 12/26/2010 - 14:43 | 830577 Perseid.Rocks
Perseid.Rocks's picture

Ah the good old days when stocks actually represented some kind of economic fundamental. There's just nothing like reminiscing about the old times around the holidays.

Sun, 12/26/2010 - 11:06 | 830419 Seasmoke
Seasmoke's picture

its well past time to learn Mandarin !

Sun, 12/26/2010 - 11:48 | 830440 RafterManFMJ
RafterManFMJ's picture

Mandarin teacher - great, another job the Chinese get.

Sun, 12/26/2010 - 11:43 | 830435 Atomizer
Atomizer's picture

Never let a bullshit crisis go to waste. If you don't act now, we will make sure to scare the living shit out of you until 2012; by reminding you of the Mayan calendars end of time theme. So let me be clear, if you don't conform to these new tax regulations, we will make your life a living hell.

No further commentary needed.

Consequence: Now's the Time for Us to Lead

http://www.youtube.com/watch?v=Oo5uonNimzw


The Beyond GDP movement has managed to bring in broader social indicators, and Tim Jackson’s

work with its focus on ‘prosperity’ has shifted the focus away from the environment as an economic

component, and instead re-cast the debate with human prosperity firmly in the centre, indivisible

and inextricably linked to the wellbeing of the planet, our host. Nef’s extensive work on wellbeing

and its pioneering of an interdisciplinary Green New Deal group in the UK has been important for

demonstrating that green investment is good for employment, and that a shift to a low-resource

economy where, for example, shopping is not the main driver of our apparent ‘success’, has benefits

for all of us.

This focus on the economic, social and environmental co-benefits of less resource-intensive

economic systems needs to be articulated more firmly at a global level. The achievement of

collective global prosperity rests upon an economic system that has human and environmental

wellbeing at its heart, rather than the blinkered pursuit of profits and wealth

 

http://www.stakeholderforum.org/fileadmin/files/Introductory%20Briefing%20Note%20Green%20Economy%20FINAL.pdf

United Nations Framework Convention on Climate Change

http://unfccc.int/home/5198.php

BARACK OBAMA AND JOE BIDEN: NEW ENERGY FOR AMERICA

 

http://www.barackobama.com/pdf/factsheet_energy_speech_080308.pdf

Obama: My interpretation of a future speech

Let me be clear, our Government doesn't pay for new infrastructure projects. Change is vital to our Government's future role in spreading change. We need your tax dollars to fund this new UN role to develop a vision of complete governmental control on each citizen of this new world.

Sun, 12/26/2010 - 14:27 | 830563 Seer
Seer's picture

"We need your tax dollars to fund this new UN role to develop a vision of complete governmental control on each citizen of this new world."

The Commies are going to take over the world, the Commies are going to take over the world.  How does it feel to fall for That shit again?

Why does it seem silly to rail against something that's so bad that it couldn't really spread and take hold?  BAD SYSTEMS FAIL.  What's so hard to understand here?

Anyone who believes they've got a viable system needs to ask the question whether it's predicated on infinite growth on a finite planet.  Any system that IS is going to FAIL!

"Let me be clear, our Government doesn't pay for new infrastructure projects."

First, neither do corporations: end-users, PEOPLE pay for all this shit.  Second, "infrastructure" is a collective: corporations wouldn't exist if not for getting govt to put in supporting infrastructure; that said, the equation is: govt is lobbied on behalf of "the people [now primarily lobbyists]) to steer actions that are to benefit "the people" [read "the lobbyists].  You cannot find ANY group that does not engage in collective decisions; and, you are highly unlikely to find any unanimity in any such group decision (read "there are sore 'losers' in every crowd).

People need to quit deluding themselves that there's some better/magic Utopian way out there.  They need to understand how things work and then go forward, hopefully with the primary notion that concentrated power IS a dead-end (be it govt, corporations, whatever).  All this petty scare crap keeps us from doing just that.

Sun, 12/26/2010 - 23:54 | 831170 Beatscape
Beatscape's picture

Jon Stewart on our efforts to achieve energy independence.  He nails it...  In a nutshell, "Fool me once, shame on me, fool me twice shame on you, fool me eight times, what--am I f*cking idiot?"  Every president since Nixon... yet our dependence on foreign oil keeps increasing! 

 

http://www.investorvillage.com/smbd.asp?mb=2234&mn=295439&pt=msg&mid=922...

 

 

Sun, 12/26/2010 - 11:42 | 830437 firstdivision
firstdivision's picture

Is this a prelude to 2011, but on a more expansive scale? http://www.yahoo.com/_ylt=AqRWVzZVUlGl0.LwKkXtMdCbvZx4;_ylc=X3oDMTd0NDAz...

Sun, 12/26/2010 - 12:49 | 830472 tempo
tempo's picture

MSNBC ran a special on Billionaire Travels to China (Gates and Buffett) as they visit the extensive investments in many factories throughout China.   The rich are driving investment out of the USA and into the Third world.   They control the media and the political system so their is really no hope in making making meaningful changes.  Obama talking to the Corporate leaders is a joke.   Corporate leaders only want more stimulus for Americans to purchase the good manufacturered overseas with slave labor and no environmental laws owned by the Billionaires.   Is this any different from Great Britain during the 1700s using slave labor in undeveloped countries to exploit the poor and accumulate great personal wealth?

Sun, 12/26/2010 - 13:59 | 830526 usikpa
usikpa's picture

Can someone unravel this to me?

http://online.wsj.com/article/SB10001424052748703548604576037612752480904.html?mod=WSJEUROPE_hpp_LEFTTopWhatNews"

The unemployment rate has been going ever higher while the on-line job postings have reached 4,7 million as of December 1st! Can't make anything of this!  

Sun, 12/26/2010 - 18:43 | 830865 WaterWings
WaterWings's picture

Makes me think of the fake job posting companies do to make it look like they are hiring and doing better, with no intention of actually hiring. Just set that bar way high and pay way low.

http://www.zerohedge.com/article/charting-2010-part-1-key-jobs-charts-2010#comment-830223

Sun, 12/26/2010 - 23:45 | 831161 Beatscape
Beatscape's picture

Here's an important chart the mainstream media is ignoring, which shows the double-dip getting under way in home prices all over the USA.

 

http://www.nytimes.com/interactive/2009/04/29/business/2009-wide-housing...

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