- advertisements -
Nearly 500,000 people were added to the SNAP/Food Stamp rolls in December of 2010:
Chart I did using BLS data combining total full time wage and salary workers * average weekly earnings. CPI adjusted to 1982-1984 chained dollars. From the 2007 peak, the total basket of people in full-time jobs are making exactly $100 billion dollars less, in real terms, than in 2007. They are making $20 billion less than last year.
One for the mutha fuckin' ages...
And it cost how much to achieve that?
Ask tha JPMorgue...
Thank God the Viagra is working.
God brings the children.
Yesterday, we opened two consumer discretionary stores (home decor) in Detroit, MI, and are hiring 7 sellers. The city's economy is bouncing incredibly fast, and we already make more than we do in San Francisco or NYC.
If you want jobs and wealth, move to Detroit. This is the new place to be, believe me.
On a larger scale, it is obvious the global economic recovery is accerelating at a very fast pace. The drop in unemployment (8.9%) proves that silverbug libertarian permadoomers were wrong.
Kool Aid stores?
good one hamy. all boats will be lifted in the rising tide: guns, ammo, night vision goggles. plus, detroit as i understand it has a very motivated, entrepeneural, educated work force coupled with excellent leadership from jail ... i mean city hall.
keep us apprised on the weekly comps of the new stores.
Are your stores temporary setups?
I heard that the only money in Detroit is coming from the City paying people to live there. Last I heard it was $150k to police willing to move to detroit and buy a house.
That must be where your profits are. Or is there a new recycling center down there street where people cash in on beer bottles and tin cans and then come to your store?
Oh and did you say "Yesterday" you opened your store and you are already gauging first day sales as what you expect the permenent outcome to be? You must be drinking the same koolaid the bls is drinking because your numbers don't seem right.
It is true that we make most of our profits selling to welfare moms, and we had to install our own diesel power generator (electricity has been shut down in some areas of the city for 2 years), but Detroit is still the place to be if you want to make money.
Government money is the same as private money. And it is currently flowing, feeding the city economic recovery and jobs creation.
that's right hamy. i like your creativity and entrepenueral spirit. jpm saw the light. as reported this week those fine folks make $5 billion net per year servicing the welfare stamp system.
Exactly. One penny is a penny, I don't care about its origins.
There's currently a lot of money to be made with government cheese.
But it does not eliminate the fact that there is an incredible recovery in the private sector too.
OK Hamy - I will bite with a comment here.
I agree with you that a buck is a buck, but question is for how long? You say you are hiring 7 sellers. Good for you and for them. You don't have to answer this, but what can an average seller make per year? (Lets take hourly/commission rate X 2080 hours per year.) Is this enough to feed a family, make major purchases and get a mortgage in Detroit?
exactly. one can see the recovery in the data. chevy volt sales were particularly impressive. as was gm's pipeline sales of all units. tax receipts are doing nicely. monster job listings impress. and the 14,000 new homes sold all across the usa was insane bullish. one could go on and on. no wonder you're expanding.
Love the sarcasm and engineering mindset lieutenantjohnchard.
keep in mind hamy is serving us delicious parody and comedy of harry wanger.
19,000 - and not 14,000 - new homes were sold across the entire USA last month, damnit.
Get your less depressing but still depressionary level numbers right!
hat tip to ya tis. either my eyes, brain or both played tricks on me.
Minor point, LT. It was all in jest.
I remember in 2006 when the figure for new home sales on a monthly basis was hitting 200,000, so look at how far we've fallen.
i know you were jesting tis. the country has taken a big fall in many ways, and the figures are startling when you step back and analyze them.
And yet from your description it sounds like you're in Zimbabwe.
So... you're a carpetbagger? Your hand is in taxpayers' pockets?
Silverbugs were wrong? Lets see I bought at $12 a couple years ago and now its at $34. I don't know of anyone that has been more right. Also with all this massive stimulus we should have much more robust job growth rather than the 250k over the past 2 months which barely keeps up with labor force growth, maybe. Looking forward to see what happens when the morphine is gone, if it ever is.
I bought the "Spike" @ $12 an ounce as well. My wife thought I had lost my mind by cleaning out the (fiat money) retirement accounts and buying mostly Silver and some Gold. My son started wondering if he was going to work to support himself and his "crazy" Father and poor Mother. Now both think I'm some sort of crazy financial genius.
Thatis often the time to take at least partial profits, at least in my experience.
The triumphal feeling is a good sell signal.
No, the good sell signal is when everybody around you buys silver, and CNN begins to suggest buying it.
It has already happened for stocks (401ks) and real estate (the grandmothers were flipping condos). And it was the signal to sell.
The Germans who sold their gold after an incredible 5,000% profit in 1922 lost everything just like the rest of the population, because it was going to skyrocket further... you know the rest of the story, I suppose.
They didn't see the sell signal for Marks.
By "consumer discretionary" do you mean hydroponics and "grow your own weed" products? I live in the sh|%hole and that's the only stuff I see taking off in Detroit (metro).
Maybe it is my "normalcy bias"? I could have been here too freaking long....
dude, Hamy. That was awesome. I laughed out loud. I can't believe they junked you 22 times. Some people on this site have no sense of humor.
Hamy, you da man. Don't forget it.
exponential growth.. will always have a doubling time.
system is braking down faster and faster.
We're Fooked!!! Thanks to the dynamic dumb asses Obama and Bernanke.
haha Who needs to make anything when you can print money?
Who needs to print when we can just type and transfer? Probably about as much work as it took me to type this. Why waste the ink and paper? Benny will just say it and PUFF it's there. Greatest magic bullshit ever.
I've been listening to Professor Michael Hudson on YOUTUBE lately. According to Dr. Michael Hudson, the government wants a depression, they want to reduce the economy by 20% . That doesn't sound good to me !! Pay labor less & make the ecomy more competitive is great for WALL St ! unfortunately, the rest of us cannot afford to live .
WHY GOVERNMENT IS MORE AFRAID OF DEBT THAN DEPRESSION : http://www.youtube.com/watch?v=E3DsmGvVqiw
Depends of what government you talk about. Answer: corporate government.
USA, Inc. Bitchez! Everyone is owned!http://www.youtube.com/watch?v=QkfMuvVuETQ&feature=player_embedded
Global class action anybody?
Actually, the economy wants a depression. Kinda like gravity wants the coyote to fall. The government just wants more power.
actually i dont think its a bad deal. labour is overpaid in US compared to the rest of the world.
one hour of waitressing does not give you 2 gallons of gas in other parts of the world.
to maintain equilibrium this will have to go down. Most of the population here seem to maintain a mindset seen in the old colonial powers where they think that their labour is worth much more than in their colonies while in reality its not.
"Wealth? We don't need no stinkin' wealth?"
"We got fiat!"
Just goes on an on, until it stops.
I propose from here on out that everyone who posts anything on ZH and all people who comment on posts stop saying 'dollar' when referring to Federal Reserve Notes. Maybe we can start dispelling some illusions around here.
Would you rather use
How about "Grieven"?
Or perhaps "Drachma"?
I agree. Anything is better than "dollar".
1.) Its not Federal!
2.) There are NO reserves - Look at the shit on their balance sheet!
3.) And its not a note - A note is a promise to pay and all I can redeem this piece of paper for is another piece of paper!
Additionally for a note to be valid it must be signed by the issuing party. There is no signature of anyone from the Federal reserve on this piece of paper.
So its defunct from the begining.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.