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Department Of Labor Comes Begging: Hilda Solis Asks For Extension Of Emergency Unemployment Compensation Program

Tyler Durden's picture




 

Not even two full days have passed since the announcement of what will become the single biggest monetary stimulus/experiment in the history of the world (since anything that never ends is by definition "biggest"), and here come the fiscal aid panhandlers. In an email just sent out by the Derpatment of Labor, Hilda Solia has officially requested an extension of the EUC program which is expiring in November and which will leave 2 million unemployed Americans without insurance benefits after November (and 6 million by the end of next year). Obviously this plea for fiscal heroin will be granted: how else can the country that has now become a utopian experiment in socialist-fascist fusion, supposed to delude the world that 42 million Americans on food stamps are actually not going to benefit from Ben Bernake's actions? And after all, if the DOL is denied, how else will the bankers defend themselves when 60 million cold and hungry Americans come knocking on their door, asking for a little of that $3+ trillion of Fed luvin'?

WASHINGTON — Secretary of Labor Hilda L. Solis issued the following statement on the October 2010 Employment Situation report released today:

"This past October, nonfarm payroll employment increased by 151,000 jobs, with 159,000 jobs added in the private sector. The unemployment rate remained unchanged at 9.6 percent.

"One year ago, I reported an unemployment rate of 10.1 percent — the highest rate we had seen since 1983. Since then, the actions taken by the Obama administration have lowered unemployment by half a point, reflecting in more than 1.1 million jobs created in the private sector this year.

"While the economy continues to grow, there is more work that needs to be done to get Americans back to work. Everyone agrees on the problem. Both parties must now come together to solve it.

"With millions of Americans still looking for work, now is not the time to cut key safety net programs like Unemployment Insurance. The Emergency Unemployment Compensation program is set to expire at the end of November. If that happens, 2 million people will lose benefits in December and 6 million by the end of next year.

"While we are on the path of job creation, we cannot forget the millions of Americans who, through no fault of their own, are still unemployed and looking for work. Safety net programs like the Unemployment Insurance program have long been known to be a cost-effective way of keeping families afloat during difficult economic periods, while also serving to boost the overall economy.

"With nearly five job seekers for every job opening, many people will necessarily have to rely on the Unemployment Insurance system until the economy returns to pre-recession levels. We should not allow Americans to suffer when they have done nothing wrong.

"Making progress on the very serious problems facing this country will require everyone to put politics aside and work together to continue to create jobs, grow the economy and provide temporary help to those who are looking for work. I look forward to playing a constructive role in that process."

 

 

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Sat, 11/06/2010 - 01:12 | 704770 Aristarchan
Aristarchan's picture

Have you ever sucked dicks for a living? Just asking.

Sat, 11/06/2010 - 05:17 | 704876 i-dog
i-dog's picture

"And what is the Job Title/Pay Level if you don't mind?"

Of what fucking relevance is that?

A [paying] job is a job. Stealing money from someone else because a particular job is "beneath" you is exactly why corporations moved offshore to do their manufacturing.

Fri, 11/05/2010 - 20:47 | 704131 AssFire
AssFire's picture

Hmmm... maybe I'll just quit working.

Oh wait.. as self-employed I can't get on the dole. That is how Socialists reward those for personal responsibility and engaging in Capitalism.

Fuck you Solis- Even if you cocksuckers steal more than the 50% of my profit you already take...I'm still working.

Bottomline is if your are out of work for two years, you are not employable..I don't want to hear the BS whiners anymore.

Fri, 11/05/2010 - 20:53 | 704169 chinaguy
chinaguy's picture

Yeah, after I've already paid fucking MILLIONS in income taxes & the max on all employment/SSI taxes. I couldn't get a damn nickel if I filed for unemployment..... (self employed).

I worked my way through school loading trucks at night for UPS & built my own damn empire...I'm welcome to pay a fucking mountain of taxes, but if I fell on my face, tough shit, no cookie for you...go work at Walmart.

Fri, 11/05/2010 - 22:03 | 704311 honestann
honestann's picture

No you won't.  They'll say they can't hire you because you're "overqualified".  Not kidding.

Fri, 11/05/2010 - 22:25 | 704363 chinaguy
chinaguy's picture

Nah, no one in my family ever has to work again & if I HAD to work at Walmart I'd be busting chops in Chinese co-pack mgmt...I'm juz saying...

Sat, 11/06/2010 - 18:36 | 705673 honestann
honestann's picture

I'm not sure what is your point, except to brag, which is fine I guess but not very helpful to others.

I have seen plenty of talented friends, many who were engineers for NASA or AFRL, who had to look elsewhere when the project they were working on was completed... and got that very answer, "you are overqualified".  That's a fact.  Maybe not for you, but it is reality for many.

I am more-or-less like you, except I'm either less rich or less prone to brag about it.  I left home after high school with $2000 that I saved working since I was 8 years old.  That's not much, but then again, I spent most of what I earned for equipment to fabricate precision optics and metal parts so I could build the scientific devices I was interested in.  At one point, I had to live in my sleeping bag in the desert, and figure out how to avoid being assaulted every night by tarantulas, rattlers, scorpions, centipedes... and cops.  But I never borrowed a penny, and eventually became very much in demand in several fields.  But I have taken only a few subcontracts for NASA, AFRL and the like, because I've been self-employed developing my own products, which I license or sell when they're finished.  Like you, I worked my ass off for decades - one 5 year period I worked 18+ hours per day, 7 days per week, without one day off.  So "I get it".

However, I still cannot understand how someone like you (or me) fails to understand that perfectly good, diligent, talented people can fall upon hard times!  Yikes!  I've been defrauded several times, and only avoided getting wiped out by my "1/3 rule" (invest no more than 1/3 of my savings in any endeavor).  So even people who have done everything wisely can end up in a heap of trouble, especially in the current world that is totally dominated by predators.

Maybe you are "working with a "net".  Many gringos "hit the floor" if something major goes wrong in their lives, while in most Asian cultures their families are always there to provide at least some cushion and help to restart.

I cannot figure out why you have your attitude, but I can assure you this.  If you or I were dumped into certain people's shoes, we would not have an easy time returning to our current state of being.  Personally, I can see how an intellectual understanding I developed at age 4 completely changed the course of my life thereafter.  It was, essentially, "trust no one".  Or to be more exact, "I cannot believe what other humans say (because their statements are often massively contradictory and absurd), so if I want to understand this reality I live in, I must observe and think for myself".  I am 100% certain I would have had a totally different life absent that recognition, and my decision to observe and think for myself.  Maybe you had some similar realization that helped you.  Can you not imagine being someone who did not have a similar event... or who had an opposite (destructive) event - like "trust what others/authorities say".

I'm glad you're successful, and proud of it.  But be realistic.

Sat, 11/06/2010 - 11:31 | 705077 AssFire
AssFire's picture

WTF???

JUNKED W/O COMMENT 5 TIMES???

99 WEEKERS HERE?

WHY THE JUNK??? 

HOW AM I WRONG HERE??

 

 

Fri, 11/05/2010 - 20:42 | 704136 Samual Adams
Samual Adams's picture

Anti-Riot Payments, plain and simple.   Buying their time until more security, survailence, military on the streets, control, dis info, COINTELPRO, basically when the time is right.   TPTB hold the trigger.

 

We're gonna see a lot more reports of Guards posted at UE offices.

http://www.huffingtonpost.com/2010/11/01/indiana-unemployment-offi_n_776...

Sat, 11/06/2010 - 05:20 | 704877 i-dog
i-dog's picture

"Buying their time until ...... the time is right"

Exactly! Most here just don't get it.

Sat, 11/06/2010 - 19:16 | 705726 Eyes on the World
Eyes on the World's picture

"Anti-Riot Payments, plain and simple."

 

+1

Fri, 11/05/2010 - 20:44 | 704153 notadouche
notadouche's picture

Has anyone noticed the phrase "through no fault of their own" pops up everywhere.  Massive credit card debt, "through no fault of their own".  Foreclosed "through no fault of their own".  Unemployed, "through no fault of their own".  No education "through no fault of their own".  Nobody is at fault anymore, well except maybe the evil bankers and their corporate CEO henchman.  

Fri, 11/05/2010 - 21:55 | 704297 pitz
pitz's picture

Listen dude, what the fuck do you say to someone who studied engineering for 5 years, received advanced degrees, yet some minimum-wage Indian or Paki is hired in their place.  Because that's exactly what American businesses have spent the past decade doing.  Throwing the best and brightest out onto the street, and replacing them with poor quality foreign labour domestically.

Such a situation is truly, "through no fault of their own".  Is it really the fault of American STEM students that they believed the bullshit of a 'labour shortage' in Science and Engineering, studied for these occupations, and don't even get the time of day from recruiters? 

Fri, 11/05/2010 - 22:02 | 704310 honestann
honestann's picture

good answer

Fri, 11/05/2010 - 23:25 | 704547 goldsaver
goldsaver's picture

 

 

what the fuck do you say to someone who studied engineering for 5 years, received advanced degrees, yet some minimum-wage Indian or Paki is hired in their place.

Ahhm, you are a dumbass?

Seriously. I am a system integrator. I make disparate computer systems work together and hold 2 patents to my name. I make decent money. Not over 250K, but decent for Texas. I have a high school edumacation. How the hell did I pull this off? BY working harder and smarter than anyone else around me. I have been working non stop since I was 14. My current employer recruited me away from my last one with a 20% pay raise offer and IP rights. I got the job because when offered, I threw a number out and when he couldnt do it, I was willing to negotiate (it was still a 20% pay raise). I got a 10% pay raise plus bonus the first year. The second year, things were slow for my employer and I told him, dont worry, we will revisit next year. That year I designed and patented my first system. I brought value added to my employer and brought them additional business. Got 10% raise the third year. I am now on my second patent/product and will probably get another 10% in January. If not, I'll bring additional business to earn my pay raise.

You know what happens when you become indispensable? You wont be dispensed.

 

Sat, 11/06/2010 - 11:49 | 705107 AssFire
AssFire's picture

Yes! This is the American can do attitude..

I work on Saturdays and both my engineers came by this am because they care...in the middle of our meeting we receive a call from the Irving office where the engineer and production manager are doing the same thing.

Nothing has been said but all are indespensable, they know it. They are the ones who know the plan and want the company to succeed.

I worked just like them when I was working my way up and have always known the 99 weeker's type.. I would see them doing personal business and basically stealing the employer's hours during the week. They are the type to claim unfairness and conspire and whine against the management.

All I can say is what comes around goes around. I don't care about the junkers here- they know why they are unemployed.

Sat, 11/06/2010 - 13:05 | 705229 Kryten451
Kryten451's picture

I have a similar background story and spoke with similar hubris my whole life, but it has ended since end of '07, I have been cast out of the "employment bubble".  Now things look different.. I see you speaking from within the safety bubble and your voice sounds hollow.  Things will look different to you if for whatever reason you lose your job, and are not hired despite your previous glory.

Sat, 11/06/2010 - 19:27 | 705739 Paul Bogdanich
Paul Bogdanich's picture

I used to make in excess of $220K a year prior to 2001 in distribution and warehousing.  9-11 killed the airfreight business and me.  I didn;t have any tough experience under my belt at that time and moved to a new state.  Couldn;t find any wrk.  Went busted.  Started my own business in 2002 and have been working it ever since.  Sometmes it does pretty well.  Held up good over the last three years.  But you know what?  With the cost of benefits and so on I would have been better of working as a middle manager for UPS over the last 10 years than i am now.  I routinely make over the SSAN maximum but never by double and those taxes without my "employer" paying half are killer.  Anyway it's a myth.  They are busting all the entrepenuers in favor of corporate middle managers and larger and larger corporations.  Go ask any tax preparer who does both and they can tell you.         

Sun, 11/07/2010 - 06:11 | 706272 cranky-old-geezer
cranky-old-geezer's picture

Gerald Celente agrees with you, often saying only the best will do well in the coming depresssion ...along with everyone on Wall Street of course.

Sat, 11/06/2010 - 13:57 | 705325 FISD
FISD's picture

I would say, "Adapt, improvise, overcome."

There should be no unemployment insurance for anyone. Much simpler that way.

Fri, 11/05/2010 - 21:59 | 704302 nedwardkelly
nedwardkelly's picture

Nobody is at fault anymore

Amen brother. This is what kills me the most. The era of no responsibility or accountability. Turbo tax timmy cheated on his taxes 'through no fault of his own'.

Icing on the cake is all these settlements you keep hearing about, where the accused party settled, but made no admission of guilt.

Step 1. Defraud _________ out of hundreds of millions.

Step 2. Settle for tens of millions while not admitting to any guilt

 

Sat, 11/06/2010 - 01:15 | 704774 Aristarchan
Aristarchan's picture

There are some people who got killed who were trying to do it right. And, unlike you, they are not douches.

Fri, 11/05/2010 - 20:45 | 704157 chinaguy
chinaguy's picture

What's the food-stamp program ANNUALLY? something like $ 90 billion & what are they going to monetize MONTHLY (QE2) something like $75 billion.

They will pay & pay to keep a lid on this sh*t until they've milked it dry.....after that, well, I've got my farm. 

Fri, 11/05/2010 - 20:49 | 704162 Tiberius
Tiberius's picture

Is Congress going to appropriate the money for the unemployed though?  Ben can't just funnel the money to these people because they don't own treasuries or MBS's.  Unless Ben finds a creative way to get money to the poor it isn't going to happen without Congressional action.

The elections don't seem to indicate that Congress will be willing to give more money to the poor.  It'll be interesting.  Either Republicans in the House and Senate will have to compromise their "small government" or there are going to be plenty of hungry people out there.  At least Congress can borrow the money they don't have at incredibly low rates thanks to Ben and Tim.  That should make their decision a little easier...

Fri, 11/05/2010 - 21:25 | 704237 cossack55
cossack55's picture

"They" will lame duck all this horseshit.  Or they may just voice vote it thru like the Interstate Notarization Act. BTW, where did that pesky pocket veto go.

Fri, 11/05/2010 - 20:52 | 704165 Samual Adams
Samual Adams's picture

"through no fault of their own"

Reminds me of Silkk The Shocker's -  It Ain't My Fault

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

Fri, 11/05/2010 - 21:58 | 704300 unum mountaineer
unum mountaineer's picture

hilarious on a drunk fukin' friday night...yezzz!!

Fri, 11/05/2010 - 20:58 | 704180 halvord
halvord's picture

Well, yes, U3 measures the number of people on unemployment. U3 is the commonly cited "unemployment rate" in the US. Thus, the unemployment rate will only drop when you cut unemployment benefits.

 

 

 

Fri, 11/05/2010 - 22:23 | 704359 thefedisscam
thefedisscam's picture

Not necessarily so. If those long time unemployed keep looking for a job, they will have to be included in the current unemployed number and rate. The problem is most of them drop out from the labor force, and stop looking for jobs

Sun, 11/07/2010 - 06:22 | 706276 cranky-old-geezer
cranky-old-geezer's picture

When people drop off the unemployment benefit system the state no longer tracks them.  They simply disappear from U3 numbers. 

States have no way to track people looking for work if they're not receiving some sort of state benefit.  Maybe food stamp recipients are counted in U3, but I doubt it.

 

Fri, 11/05/2010 - 21:06 | 704192 Atomizer
Atomizer's picture

This Hilda Solia lemming needs to understand what getting in the back of the line means. NGO's hold "fast passes" to receive/distribute these monies first.

 

Top of the Agenda: Markets, Central Banks React to Fed Move

http://www.cfr.org/about/newsletters/editorial_detail.html?id=2260

Fri, 11/05/2010 - 21:40 | 704274 gwar5
gwar5's picture

Where's Obama's stash money? There's still unspent stimulus and TARP money, no?

Fri, 11/05/2010 - 21:41 | 704276 waterdog
waterdog's picture

 "how else will the bankers defend themselves when 60 million cold and hungry Americans come knocking on their door, asking for a little of that $3+ trillion of Fed luvin'?"

Damn, do you have to put it that way?

 

 

Fri, 11/05/2010 - 21:53 | 704294 pitz
pitz's picture

Deport all the H1-B's and Green Card holders back to India, and over a million US tech workers could go back to work.

I know plenty of guys who have advanced degrees in Science and Engineering, and haven't been able to find jobs for much of the past decade.  Completely thrown to the wolves.

Its scary what some of these guys are capable of doing.  We're talking about rocket scientists, quite literally, who could turn rogue.

If you think the insurgency in Afghanistan is bad, multiply that many times, and that could be America soon enough against the zionist Jew bankers and their fraudulently-derived bonuses.

Fri, 11/05/2010 - 22:04 | 704315 nedwardkelly
nedwardkelly's picture

Deport all the H1-B's and Green Card holders back to India

Easy tiger... We're not all from India. Some of us also bought businesses with us, that have since created jobs here in seppo land.

Fri, 11/05/2010 - 22:10 | 704318 pitz
pitz's picture

Someone else would've created the jobs.  And the H1-B visa isn't a visa that you're allowed to run your own business on; you must work for someone else's already existing US business.  Its a guest worker visa.

Fri, 11/05/2010 - 22:20 | 704346 thefedisscam
thefedisscam's picture

Not necessarily so. I know some H-1B workers are independent contractors.

Fri, 11/05/2010 - 22:23 | 704360 pitz
pitz's picture

They're breaking the law then, and, if the government actually followed the laws, would be subject to immediate deportation for being out of status.

A H-1B is not permitted to work as an 'independant contractor'.  An employer/employee relationship must exist, and must match the location/salary of the H-1B application as it is approved by the DoL.

Care to do your country a favour and report these "independant contractor" H-1B's to the USCIS?

Sat, 11/06/2010 - 00:19 | 704708 TonyV
TonyV's picture

Not necessarily so. I know some H-1B workers are independent contractors.

If so they are breaking the law. They cannot work independent until they get the green card. 

Fri, 11/05/2010 - 22:32 | 704378 nedwardkelly
nedwardkelly's picture

You must have forgotten the bit where you wrote:

and Green Card

I'm not an H1B.

"Someone else would've created the jobs", Oh so now the rest of the world has to wait for the US to innovate?

Fri, 11/05/2010 - 23:03 | 704428 Paul Bogdanich
Paul Bogdanich's picture

The more important point to take home here is that if you are a skilled imigrant worker in this country who lacks citizenship and they let these unemployment benefits lapse watch the fuck out.  This population is still the most violent and ignorant in the entire World.  All they need is a little something to get them going.  And if you happen to be brown on top of it all your life will be in danger.  These idiots love taking it to brown people.  As George Carlin said, "It's our hobby."   

Sat, 11/06/2010 - 01:24 | 704779 Aristarchan
Aristarchan's picture

Well yeah, that is how I feel...I used to be married to an Indian woman (well...still am) and I pounded/pound her every night....and hell, she doesn't even have a work visa or does not even own a call center. But, you are right, she is brown...so I probably need to figure out how to strangle the sexy bitch while she is asleep. But. it is gonna be hard. we have been married for 30 years, so am kinda attached to her....but if it will make you happy....

Sat, 11/06/2010 - 08:56 | 704943 nedwardkelly
nedwardkelly's picture

The more important point to take home here is that if you are a skilled imigrant worker in this country who lacks citizenship and they let these unemployment benefits lapse watch the fuck out

 

I'm not sure what citizenship has to do with it. If a mob gets angry, decides to target someone that's obviously 'not like them', you think they're going to stop and check if they're a citizen first? Any minority is likely to be targeted if mobs get busy, that's just the way it works. I'm not brown, but I frequently notice an attitude change when I open my mouth and non american english comes out.

My point to the OP was that blaming unemployment woes on H1B's or Green card holders was very short sighted. While it's not really relevant, a large number of them aren't from india, but somehow that seemed to matter to the OP. Any worker out here on an H1B or Green card is going by the books, doing the best with the options available for him and his. Most anyone would do the same in their shoes. If you want to get angry at anyone, get angry at the politicial system, which as in most cases, is responsible for creating an environment whereby a domestic company can exploit foreign labour right here on American soil. It's no secret that H1B salaries are typically lower than domestic workers, regardless of the spin they put out. Blame the corporate lobbyiest that pushed for the creation of this system.

After all, the guy wouldn't be here if it one point someone in his family tree didn't immigrate here to try to better his lot.

Sat, 11/06/2010 - 17:56 | 705602 Paul Bogdanich
Paul Bogdanich's picture

"I'm not sure what citizenship has to do with it. If a mob gets angry, decides to target someone that's obviously 'not like them', you think they're going to stop and check if they're a citizen first?"

 

What mob?  The people and the politicians are going to go on an America first kick and it will be the system that deports you.  Just watch.  It's laready happening now to Mexicans and other Central Americans under a democratic administration.  Shit like a mother of three forgets something at the grocery store, runs to the store to get it.  Get's stopped by a traffic cop and next thing anyone knows she is detained for deportation with no legal recourse because she is not a citizen.  That's what citizeship has to do with it. 

Fri, 11/05/2010 - 23:17 | 704491 jm
jm's picture

Judging from your comments on here, you are seething ball of hate that any recruiter can see through.  You're fucking yourself with this stuff.

Good luck to you.

Fri, 11/05/2010 - 22:04 | 704314 bugs_
bugs_'s picture

Remember most states have already overspent to pay their unemployment bennies and truth be told the states need this money just to keep their games going.  What Hilda is really wanting is to help out some states right quick (in the lame session).

Fri, 11/05/2010 - 22:17 | 704339 thefedisscam
thefedisscam's picture

yes, a couple of dozens of states have borrowed billions from the Fed in order to pay those extended unemployment benefit. and last time I calculate, the Treasury dept. charged them 4% or so APR!

Fri, 11/05/2010 - 22:10 | 704320 zen0
zen0's picture

Da Joos did it. Zionist Banksta Joos.

Zionism, the national movement for the return of the Jewish people to their homeland and the resumption of Jewish sovereignty in the Land of Israel, advocated, from its inception, tangible as well as spiritual aims. Jews of all persuasions, left and right, religious and secular, joined to form the Zionist movement and worked together toward these goals. Disagreements led to rifts, but ultimately, the common goal of a Jewish state in its ancient homeland was attained. The term “Zionism” was coined in 1890 by Nathan Birnbaum.

I don't see in this quote the part about banking being a necessary requirement for Zionism. I don't even see one word starting with a "b" in the whole definition.

Fri, 11/05/2010 - 23:46 | 704540 Goldilocks
Goldilocks's picture

No banking words mentioned in that definition... how about looking into ...

The Protocols of the Learned Elders of Zion.

Sat, 11/06/2010 - 01:58 | 704796 Cathartes Aura
Cathartes Aura's picture

oh zenO, everyone should know by now that one needn't be jewish / a jew in order to be a Zionist - even vice president Biden calls himself a Zionist, sheesh.

there IS a difference, try to keep up.

Fri, 11/05/2010 - 22:15 | 704329 thefedisscam
thefedisscam's picture

they want to extend for those already finish 99 weeks of benefit, or those who only got 6-9 months?

Fri, 11/05/2010 - 22:16 | 704332 SlorgGamma
SlorgGamma's picture

Don't worry, the new Congresscritters are hellbent on "fiscal responsibility", i.e. borrow fresh trillions from the BRICs to finance our lunatic bankster scams, as well as our failed war on Afghanistan. Of course, there won't be one dime for renewable energy or the middle class.

Things are going to get worse. 6 million Americans on EUV will begin to starve, another million state jobs are going to disappear, another 4 million homes will foreclose, while the Wall Street plutocrats roll in unimaginable wealth.

Unless Americans get out into the streets and start kicking up a fuss, this place is headed for a post-Soviet-style meltdown. The clock is ticking: the BRICs are running out of patience with our bankrupt wars and quantitative sleazing. They *will* pull the financial plug on us. We've got two, maybe three years. If we're lucky.

Fri, 11/05/2010 - 22:17 | 704335 Problem Is
Problem Is's picture

White House:
Since Summers, Rham-tard et al quit... there is no one left in the West Wing but Obummer, Michelle, the POUS executive secretary and... the Maid.

Obummer to the Maid: "So what is the economic effect if 6 million people lose their long term unemploymnet benefits by the end of December?"

Maid: "Retail sales tank further. You are already looking at the worst Christmas on record... Don't worry. You'll get the credit."

Obummer: "So if it lands on my desk, you think I should sign it?"

Maid: "How the hell should I know? Do I look like Fat Larry or that little piss ant Emanuel?!!"

Maid: "Oh and the Mrs. says quit smoking in the bathroom and put that damn seat down..."

Fri, 11/05/2010 - 22:19 | 704345 AUD
AUD's picture

Once the government starts giving it can't stop without causing people hardship, even if they are a pack of dole bludging, single mothering, pensioning & assorted general dumb cunts.

Austerity? don't make me laugh. The ability to kick the can down the road through inflating the currency was the reason why governments abrogated their obligations to repay their debts in gold in the first place.

Once starting down the road of currency inflation there's no turning back.

Fri, 11/05/2010 - 22:24 | 704362 girl money
girl money's picture

"Not me, I'm not gonna take this..." LET'S DO IT!!!

Project TNFOMO (Through no fault of my own) is upon us.

-------------------------------------------------------------------

"Through no fault of my own," I hereby promise to:

refuse to buy one more trinket on credit with a TBTF bank

refuse to buy a new car from a TBTF manufacturer

let kindness to neighbors be my rush instead of mall shopping

buy from local, non-publicly-traded businesses with cash

move my money to a local credit union or local bank

target an income level that will minimize taxes paid

shop consignment stores first, with cash

turn down the heat, turn off the lights, light a few more candles

spend more time with people, not things

save and do all that i can to protect my family from this depression

... and thus do my part to slowly starve the beast.

who's with me?

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

Sat, 11/06/2010 - 00:33 | 704730 Dantzler
Dantzler's picture

You go girl!

That tipping point exists at the necessary level of mass action.

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

It is our duty to restore equilibrium.

Fri, 11/05/2010 - 22:28 | 704368 thunderbird
thunderbird's picture

Those whose unemployment benefits are ending should simply sell the Apple stock they've been holding for a sweet profit.  Who needs unemployment when Ben has given us so much confidence to buy something.  Had I been long, I might be inclined to agree but foolishly I went with logic.

Sat, 11/06/2010 - 05:43 | 704884 saulysw
saulysw's picture

Your avatar seems familiar in some way....can't quite put my finger on it.

Fri, 11/05/2010 - 22:34 | 704382 scatterbrains
scatterbrains's picture

hey I just noticed we're just a few hft pumps, midnight globex vacuum lift, QE-2 surges off all time highs on SPY..   what 17% left in this bubble before we crest the peak ? haha

Fri, 11/05/2010 - 22:39 | 704389 Buck Johnson
Buck Johnson's picture

Things are getting bad, real bad.  When the food cost rise exponentially you will see people trying to steal food and actually rob because they can't afford to live.  Right now they haven't really seen it, but I have and other too.  It's creeping along and eventually it will be galloping.  This christmas is going to be awful, and I don't see unemployment being extended until after christmas.

Sat, 11/06/2010 - 01:00 | 704760 Aristarchan
Aristarchan's picture

I know what you mean. I stole my neighbors plastic pool furniture and sold it to a pimp who needed some chairs for the whorehouse he had set up in a foreclosed house. He seemed pleased with it, and I needed the money, and the Johns DID need some place to sit down while they waited for sloppy seconds. I guess this is the new economy.

Sat, 11/06/2010 - 02:04 | 704798 Cathartes Aura
Cathartes Aura's picture

with respect Buck, yes, things are already bad, and will get much worse over time - but Xmas has turned into a consumer Xtravaganza that needs serious reigning in - it really won't hurt folk to bin the notion of massive mindless buying of crap every year.

Fri, 11/05/2010 - 22:49 | 704403 laughing_swordfish
laughing_swordfish's picture

Folks have an interesting point:

Just what percentage of the Bankster Criminal Syndicate are members of that Certain Religious Minority that holds two passports and controls our foreign policy through AIPAC and the CFR?

Remember, that Certain Religious Minority is just 2% of the population but also over 50% of the Ivy-educated elite which infests...errr "controls" our government.

And this is in addition to their total control of the news media and propaganda organs..

Just sayin'

Fri, 11/05/2010 - 22:55 | 704413 zen0
zen0's picture

But are they zionists? You know believing that the unamed religious? minority is required by God to live in Eretz Israel?

If they live in the USA, then no.

Fri, 11/05/2010 - 23:13 | 704453 Fraud-Esq
Fraud-Esq's picture

That's an awfully stiff definition of zionism. Didn't you know they've expanded that now to include jews who get guilt-tripped by the annual israeli speaker and all those that want to go to war with Iran because.... Israel needs our help (or not). That pulled in an extra 20% in addition to the usual neocons. There's a little tension between the white christians who like blowing up arabs but also dislike jews. They're in political therapy over Iran. Some bought persian carpets and got out, some not. But - watch those wily opus dei catholics. They appoint american jews in top positions when they know the shit is coming down. :0 

Fri, 11/05/2010 - 23:09 | 704440 Paul Bogdanich
Paul Bogdanich's picture

Historically speaking one can only conclude that they like living on the edge.   Over the past 20 centuries when major powers have had problems on not less than 9 occasions did the relevant authorities think it appropriate to visit / re-visit the questions of ones ethnic minority status that starts with J.  About a 50 / 50 chance historically speaking but they remained convinced that it won't happen here.  That said they are running an active campaign to deflect the anger toward muslims but that's hard to do when there are no muslim bankers or heads of coporations or members of the board of directors or studio executives or owners of the media or Senators etc., etc., etc.  

Fri, 11/05/2010 - 23:15 | 704460 zen0
zen0's picture

Historically speaking, one might say they run from their destiny, and devise many excuses to do so, all of which involve pissing off major populations in the process. Just go to Israel already.

 

Feh.

Fri, 11/05/2010 - 23:40 | 704542 Fraud-Esq
Fraud-Esq's picture

It was specifically lending and banking that led to specific legal distinctions for jews in the Magna Carta. http://www.britannia.com/history/docs/magna2.html

But - the truth is, this is just "bank regulations" in the Magna carta, as Jews were allowed exclusive banking at that time. It's interesting. Who knew there were banking regulations in the Magna Carta? Well, there is it, in 1215, people trying to stop bankers from inequity. The tension continues to this day.

My jewish friend and I discussed the Magna just this week. He is a major anti-zionist and anti-banker, btw, who is openly apprehensive about things like Goldman Sachs hearings, perceptions, etc... He's a great critic and I credit him well. Christians, because of their restrictions, handed this enterprise over to the jews historically. So, there is that historic fact which leads to correlations in numbers today. But - in no way does this make 'the jew' guilty, especially now, unless he's a fraud banker! christians, europeans, anglo-saxons et al, all partake in unethical, fraud banking. Banking is itself a culture that accepts the best liars and frauds and elevates them. christians are a big part of this. all bow before mammon! Correlation, not causation....yet again.   

Sat, 11/06/2010 - 01:01 | 704761 Aristarchan
Aristarchan's picture

You mean Muslims?

Fri, 11/05/2010 - 23:28 | 704552 QQQBall
QQQBall's picture

This is obviously a hoax. BHO saved soooo many jobs in the past two years - you guys are so ungrateful and impatient. Its working!

 

sarcasm/off

Fri, 11/05/2010 - 23:33 | 704604 Aristarchan
Aristarchan's picture

I, for one, am not going to conspire against a lot of people who have lost their jobs at no fault of their own. Unlike a lot of Wall Streeters and Banksters who wound up separated from their tithe toil, most of these people have no cushion to survive until they can find something to eak in some of that fiat currency that is so required to survive these days. Yes, some of them broke themselves through excess spending, lack of savings, and an odd belief that the government, corporate America and Wall Street knew what they were doing...HO HO HO! But, many of them just ran afoul of a system that, designed to take from the poor and give to the rich - failed. Well, actually, I guess it has not failed yet....QE#####....TARP....and the powers-that-be are doing their damdest to keep the flush-upward system in place, but, people who do not invest, do not have massive savings, have no health insurance, no education and no job prospects, and who have destroyed their credit trying to hang on, probably do not find all this very amusing.

Will they revolt? No, probably not. The system has taken care of that as well. Most people these days are afraid to own a gun, and many of the ones who do cannot shoot. Over the years, almost everything has been deemed in law to be illegal, and there are cops, National Guard and the military to enforce these laws. Oh, there will be a few who will shoot some powerful people or some numb-nut idiots who want to write them off, but they will be on their own, be deemed criminally mad and incarcerated or executed.

Most of us will submit weakly, or get on blogs and make ineffectual noises...but that will be it. Before long everything will be sorta back where it was, the "right" people in control and in the money, some of us will tag along and make a little fiat profit here and there, Gold will be back at $300.00 per ounce, the Dow will be at 15K, we will be at war with Iran, we will have a Republican President, and unemplyment will fall to 5%, since most of us will be howing weeds (farm payroll), selling Marijuana for cash or simply have starved to death. Things will be howling then...all the deadwood gone or beaten down like dwarfs in a rockslide, the Dollar will once again be - to Larry Kudlow's delight - king. China will once again have drawn back into themselves after a freak nuclear explsion in Tiannemen Square, and will be hording rare metals and dusting off those little red books. Europe will be on the verge of war....north against south, and Russia will be experimenting once again with communism. I will probably be hoarded up in Alaska in a titanium-lined igloo with Sarah Palin, hoarding guns and barrels of PETN and dried sowbelly and rotgut whisky. We will be madly in love, screwing like hamsters under the midnight sun while plotting the resurgence of the Tea Party, which is headquartered in the slums of Chicago...a sovereign nation now, run by a gold crowned Santelli. Mark haines will be growing tomatos in Key West, Tyler Durdin will be carving out a new nation in the Caucaus mountains, stuxnet will have long shut down the Internet and made air travel visual only. Helicopter Ben and Twisted Timmy will be planning QE Googleplex, but will be using Zimbabwean Dollars, since they are still not worth anything.

When this comes down, I hope all you fuckers are well equipped with guns and ammo and stolen dynamite and body armor and night vision goggles...cause you are gonna need them. The banksters will be driving around in armored cars that look like hollowed-out cannon balls, and will be guarded by ex-NFL linemen with heads full of meth and hearts full of hate. Your neighbors will hate you, and your Mothers will have disowned you. It will be finally...the survival of the fittest. Thank fucking God, it is about time for that to come around. But, just a word to the wise....a safety tip, really....don't come pissing-and-moaning around my and Sarah's ice door, or try to sneak around and steal Liz Claman - our sex slave tied up in the ingloo next door...cause if you do, Sarah will shoot you in the guts with a .458 Magnum, and I will cut you up in chinks to feed Liz.

 

Fri, 11/05/2010 - 23:43 | 704655 Aristarchan
Aristarchan's picture

"Chinks?" No.....that was not Freudian...it is "chunks.":)

Sat, 11/06/2010 - 00:06 | 704689 goldsaver
goldsaver's picture

.458 magnum? Your Sarah must be a healthy sized girl to handle an elephant round like that. Congrats. It takes a real woman to shoot that fucker.

Seriously though. A few years ago one of my guys showed my pictures of his sister, She would back pack in the Alaskan woods and kill an elk, back pack it out (several trips) quarter it and process it herself. Cute girl too. Damn, if I wouldn't have been married I would have definitely gone after her. Love a woman that can stand with me in a bar fight and kick some ass.

Sat, 11/06/2010 - 00:21 | 704712 Aristarchan
Aristarchan's picture

My love doll is of course, Sarah Palin, once leader of the frigid north, and Vice-Pres nominee of John McCain. She can fire anything...the .458 is a pussy round compared to the .460 Weatherby....which is like shooting a fucking 155 Howitzer off your shoulder! But now wait....are you calling Sarah "healthy" in that you consider her a a fat bitch? Jesus man...this woman came within an eyelash of being Vice President of these here fucking United States of America! No she is one sexy bitch, a little flabby in the thighs maybe, but still a nice piece of ass.

Sat, 11/06/2010 - 09:32 | 704968 goldsaver
goldsaver's picture

Mea Culpa. I bypassed some of your rant the first time and did not see we shared the same wet dream of shaking up with Sarah Palin. 

But now that I re-read it, I will just bow out of this conversation and bid you adieu. No need for me to try a fight with a one armed man. And I don't hit the handicapped or retards.

Sat, 11/06/2010 - 00:01 | 704683 markmotive
markmotive's picture

14% of Americans on Foodstamps

Saddest chart you'll ever see: http://www.planbeconomics.com/2010/11/05/chart-14-of-americans-rely-on-foodstamps/

Sat, 11/06/2010 - 00:12 | 704698 Aristarchan
Aristarchan's picture

Man, I love foodstamps...it is a viable commodity, unlike this shitty fiat crap we have to use to buy whisky and crack. Even whores will take them. Of course, it sucks that we can't buy beer and porn movies with them...I mean, I can see where some improvements in the system can be made. And, I still cannot understand why GS has not securitized them yet...think of the fucking possibilities! I could trade my foodstamps at the local pawnshop, they could pool them, sell them to GS, then they could mash them together, create some tranches based on what state they originated in, then sell  Iceland some structured products with a AAA rating...the US Gov pays no matter what happens. Makes me feel kinda inadequate, since I have been wasting my time trading them for cheap sex with skanks  who trade them for meth....and I have a fucking MBA!

Sat, 11/06/2010 - 00:15 | 704703 Ace
Ace's picture

"Since then, the actions taken by the Obama administration have lowered unemployment by half a point" -- no, the actions taken by the Obama administration have slowed down the recovery and increased unemployment by depriving productive people of their assets and rewarding the unproductive.

"there is more work that needs to be done to get Americans back to work" -- not by government, except maybe getting out of the way.

"With millions of Americans still looking for work, now is not the time to cut key safety net programs like Unemployment Insurance." -- yes, it is.  There's never a good time for theft, and it's exactly that type of theft that eventually results in massive unemployment.

"While we are on the path of job creation, we cannot forget the millions of Americans who, through no fault of their own, are still unemployed and looking for work." -- we can't forget them? OK, but we don't have to pay them, either. It's every individual's moral responsibility to support themselves, so while it may not be their fault that they lost their job, it is very much their fault that they don't have another one.  Who else's responsiblity could it possibly be?

"Safety net programs like the Unemployment Insurance program have long been known to be a cost-effective way of keeping families afloat during difficult economic periods, while also serving to boost the overall economy." -- sorry, the reality is just the opposite.

"With nearly five job seekers for every job opening, many people will necessarily have to rely on the Unemployment Insurance system until the economy returns to pre-recession levels. We should not allow Americans to suffer when they have done nothing wrong." -- no, they don't have to rely on UI. It's also wrong to call the unemployed 'blameless'; everyone is responsible for taking care of themselves. That's not their employer's job, nor the government's.

"Making progress on the very serious problems facing this country will require everyone to put politics aside and work together to continue to create jobs, grow the economy and provide temporary help to those who are looking for work. I look forward to playing a constructive role in that process." -- I'm all for putting politics aside; in other words, government should get the hell out of the way. You don't create jobs by taking money from the very people who are the most productive; it's morally wrong.

Sat, 11/06/2010 - 00:26 | 704720 Aristarchan
Aristarchan's picture

"It's every individual's moral responsibility to support themselves, so while it may not be their fault that they lost their job, it is very much their fault that they don't have another one.  Who else's responsiblity could it possibly be?"

Oh, I don't fucking know, maybe a bunch of millionaire banksters who got rich gaming the system untill it imploded?


Sat, 11/06/2010 - 00:32 | 704731 Aristarchan
Aristarchan's picture

And, oh yeah....one thing I forgot to mention: THERE ARE NO FUCKING JOBS YOU SIMPLE FUCKING FOOL!

Sat, 11/06/2010 - 04:45 | 704861 Ace
Ace's picture

Sorry, although I'm sure there are exceptions, in most cases, I don't buy the "no fucking jobs" argument. Sitting around and waiting for jobs to appear is completely irrational. If you can't find a job, then create one. If you can't create one, then lower your wage expectations. Do it like your life depends on it, because it does.

Oh, you say you're not smart enough to create a job for yourself (like those self-employed immigrants seem to do by the millions), and no one wants to hire you at any wage? Given the politics in the country, where *honest* businessmen who do create jobs are vilified, treated like criminals, and have their assets stolen by government, WHAT DID YOU FUCKING EXPECT?

Look at it another way: let's say you're on a desert island. You work at one of two farms on the island, in exchange for food. Someone comes along and kills your employer and burns down his business. Now you have no source of food. Blaming the criminal and even hanging them might make you feel better, but it won't put food on the table. You could also try stealing from the remaining farmer or have government do it for you, but if you do, you'll both soon starve. So, do you wait for government to "do something"? What can they possibly do when resources are limited? Or do you take matters into your own hands by growing your own food or building something of value to sell, and do everything you can to support and encourage the remaining farmer?

People who don't take responsibility for their own lives will inevitably end up like the 100 million or so who learned the hard way in the regimes of dictators like Stalin, Mao, Pol Pot, Mussolini and Hitler: led by promises of creating wealth from nothing or stealing it from others, straight to the graveyard.

Sat, 11/06/2010 - 02:25 | 704800 laughing_swordfish
laughing_swordfish's picture

The Certain Religious Minority of which I have earlier spoken had better get used to a very old word that will soon be added to the American vocabulary:

POGROM.

And when it comes to "re-negotiating" the Social Contract to make it more "business and capital-friendly", it's a little too late when you're in that little hermetically sealed room and the Zyklon B is about to issue forth from the ceiling vents...

 

 

Sat, 11/06/2010 - 09:23 | 704965 Rock N Roll Det...
Rock N Roll Detective's picture

Should have given the 600 billion to EUC so all of America could have quit and live on Food Stamps and Unemployment Checks for the next 25yrs. I need a break from the economy.

Sat, 11/06/2010 - 18:13 | 705635 voltaic
voltaic's picture

I see that there are a lot of "throw them to the wolves" types saying that the unemployed are lazy and not trying to find work, but while that may be the case for a minority of those on unemployment, the vast majority are looking for work but the jobs aren't there. Take a look at the JOLT report which showed: There were 3.2 million job openings on the last business day of August 2010. Consider there are 15 million unemployed and about another 15 million underemployed who want full-time work. There are 9.3 unemployed/underemployed seeking a full-time job for each job opening. How many of those online jobs are part-time? No one knows. How many are seasonal? No one knows.  

For those who think that throwing the unemployed to the wolves is a solution, think of this: If there are 15 million unemployed and each American household is 2.6 people, then you have 39 million people who could be depending on that unemployment check. If you consider the underemployed too, then you have 78 million Americans who are affected either directly by a family member being unemployed or underemployed, or about ¼ the total American population.

I have read hundreds of letters from the long term unemployed and the vast majorities are not lazy looking for handouts. Look at some of these stories and make up your own mind:

http://www.layofflist.org/2010/08/30/99er-tier-5-ui-benefits-and-why-they-are-needed-letters-to-congress-from-the-long-term-unemployed-part-8/

http://www.layofflist.org/2010/07/23/tier-5-and-extended-unemployment-benefits-are-needed-letters-to-congress-from-99ers-and-other-long-term-unemployed/

http://www.layofflist.org/2010/06/18/6196/

http://www.layofflist.org/2010/10/28/one-99er-loses-a-battle-to-foreclosure-and-falls-through-the-cracks-congress-abandons-the-jobless-but-coddles-the-wealthy/

And for those that say unemployment benefits makes people sit at home doing nothing until they lose benefits, look at:  http://www.frbsf.org/publications/economics/letter/2010/el2010-12.html

Although economists have shown that extended availability of UI benefits will increase unemployment duration, the effect in the latest downturn appears quite small compared with other determinants of the unemployment rate. Our analyses suggest that extended UI benefits account for about 0.4 percentage point of the nearly 6 percentage point increase in the national unemployment rate over the past few years. It is not surprising that the disincentive effects of UI would loom small in the midst of the most severe labor market downturn since the Great Depression.

Some take advantage of the system, but most want a job instead of a couple hundred a week that unemployment offers in most cases. Put the unemployed to work some way, but don’t condemn millions because you think they are lazy. How any millions of manufacturing jobs have been off shored? Companies get tax breaks for sending jobs offshore. Credit scores make a difference in hiring, age discrimination is alive and well and many companies won’t hire the long-term (or even short-term) unemployed. I’ve asked numerous temp agencies if they hire for companies that won’t hire the unemployed and none of them have denied it happens. This problem is a lot worse than just lazy…..

Sun, 11/07/2010 - 20:41 | 707258 Ace
Ace's picture

For most people, being lazy has nothing to do with being unemployed.

And equating self-sufficiency with being "thrown to the wolves" is intellectually dishonest, at best.

The underlying problem here is a cognitive disconnect. People have come to believe that they are owed a job and that wanting to work means that work will be available. The truth is that someone has to create those jobs, and the idea that the government can do so is just a cruel illusion.

Here's the reality of it: no one owes anyone a job. Any jobs the government creates are made by destroying jobs in other parts of the economy, and more jobs are destroyed than are ever made. Any money the government steals to pay people for not working just further delays the real cure and amplifies the current problem, because the money comes from precisely the same people who could or would create jobs (the "productive").

I'm all-for true unemployment insurance.  But real insurance must have a limit, or it ceases to be insurance and becomes a guarantee.

Sat, 11/06/2010 - 23:17 | 705992 Fix It Again Timmy
Fix It Again Timmy's picture

Voltaic,

Amen, thanks for a reasoned and rational view - I'm with you, 100%!

Mon, 11/08/2010 - 11:20 | 708028 Grand Supercycle
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My long term indicators continue to warn of USD strength and EURO weakness.

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