Guest Post: Take This Job And Shove It

Tyler Durden's picture

Submitted by Jim Quinn of The Burning Platform

Take This Job And Shove It

Barack Obama and his minions were out in force on Friday declaring
that the 216,000 jobs added in February are proof of a recovering
economy. The unemployment rate fell to 8.8%, down from 9.8% in April
2010. All it took was 2.8 million Americans to leave the labor force to
achieve this fabulous reduction in the unemployment rate. The percentage
of Americans in the labor force of 64.2% is the lowest since 1983. The
employment to population ratio of 58.5% is also the lowest since 1983.
These atrocious figures are after a supposed economic recovery that has
been underway for the last 18 months.

 

There are now 1.8 million more people employed than at the depths of
this Greater Depression. The working age population has grown by 3.2
million people since 2009. Inexplicably, the civilian workforce has
actually declined by 736,000 over this same time frame. The government
drones at the BLS want us to believe these people voluntarily left the
workforce. Obama apologists declare this is because Baby Boomers are
leaving the workforce as they retire into the sunset. That is laughable,
as all studies show Boomers have not saved enough to retire and will be
forced to work into their 70′s.

The manipulation of data in order to spin the economic situation in
this country in the best light possible has become so blatant that only
the most ignorant could possibly believe it. The corporate mainstream
media dutifully reports the propaganda, without ever critically
assessing what is being distributed by the government. The percentage of
the American working population in the workforce consistently ranged
between 66% and 67% from 1998 through 2008. Then, suddenly in 2008,
after the economy went in the tank, a couple million Americans found
better things to do with their spare time and left the workforce. Anyone
with an ounce of brains knows these people gave up and are really
unemployed. The percentage of people in the labor force should be 66.5%.
Using this 20 year average would add 5.5 million people to the civilian
labor force and the unemployment rolls. This exercise in reality gives a
real unemployment rate of 12%.

It is interesting that Obama and his top economic propagandist Austin
Goolsbee were out in full force on Friday, taking credit for the
“tremendous” job gains, but had nothing to say earlier in the week with a
much more revealing government report. There is now an all-time high of
44.2 million Americans and 20.7 million households in the food stamp
program. This is 14.3% of the American population and 18% of all the
households.

 

I’d like to hear the Administration spin for the SNAP program. Since
the supposed end of this economic recession in late 2009, the number of
people added to the food stamp rolls has increased by 8 million. The
annual cost for this program will reach $70 billion this year, up from
$33 billion in 2007. If the economy is recovering and people are
voluntarily leaving the workforce, why have the number of people on food
stamps increased by 22% since the official start of the recovery? Why
does the number of people going on food stamps go up every month? The
answer is that there has been no economic recovery for the average
American. Wall Street bankers and the ultra-wealthy elite are the only
people who have experienced a recovery.

SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM
( Data as of March 31, 2011)
Fiscal PARTICIPATION BENEFIT AVERAGE MONTHLY BENEFIT
Year Persons Households COSTS Per Person Per Household
 
FY 2011 43,766,713 20,501,213 23,348,337,586 133.37 284.73
FY 2010 40,301,666 18,618,363 64,704,748,421 133.79 289.61
FY 2009 33,489,975 15,232,115 50,359,917,015 125.31 275.51

 

The true picture of the American economy is that in 2007 there were
146 million Americans employed, or 63% of the working age population.
Today, there are 139.9 million Americans employed, or 58.5% of the
working age population. Over this time frame, an additional 7.1 million
Americans entered the working age population. In 2007 there were 26.3
million Americans on food stamps, or 8.6% of the US population. Today
there are 44.2 million Americans on food stamps, or 14.3% of the US
population. To call the current economic disaster a recovery is to
practice the art of the Big Lie.

Real Median Household Income, which is calculated using the dodgy
government CPI, has not grown in 14 years. Using a true, non-manipulated
inflation figure and real median household income is no higher than it
was in 1987. The mainstream media reports the headline figures like the
good lapdogs they are. The BLS Establishment data going back to 1965 is a
treasure trove of interesting data. The average hourly wages have
declined for the last three months and are essentially flat in the last
year.

real median household income

Decades of Decay

The current state of disarray in the job market did not occur
overnight. It took decades of bad choices, willful ignorance and
delusion. By charting BLS data over the last five decades, a picture of
an empire in decay appears before your very eyes. We aren’t the first
empire to experience this decay and won’t be the last. It is only in
retrospect that it becomes clear that all empires gravitate from
producing and creating to finance, debt and lending. The hubris of great
empires leads them to believe they have been chosen by God as a special
nation destined for eternal wealth and success. The seventeenth century
Spanish empire thought so. The Dutch and their glorious maritime empire
thought so. The all-powerful British Empire thought so. Do you hear
much about these empires anymore? They all sacrificed productive
activities and embraced the glories of a debt based society. Kevin
Phillips details these declines in his brilliant book American Theocracy :

“Understandable as this cockiness
might be, history teaches a crucial distinction: nations could marshal
the necessary debt-defying high wire walks and comebacks during their
youth and early middle age, when their industries, exports,
capitalizations, and animal spirits were vital and expansive, but they
became less resilient in later years. During these periods, as their
societies polarized and their arteries clogged with rentier and debt
buildups, wars and financial crises stopped being manageable. Of course,
clarity about this develops only in retrospect. However, even though
war related debt seems to have been part of each fatal endgame, the past
leading world economic powers seem to have made another error en route.
They did not pay enough attention to establishing or maintaining a
vital manufacturing sector, thereby keeping a better international
balance and a broader internal income distribution than financialization
allowed.”

The chart below paints a clear picture of decay, debt and delusion.
In 1961 the population of the United States was 184 million. There were
54 million employed Americans, with 15 million of them manufacturing
goods for America and the rest of the world. Today the population of the
United States is 310 million. There are 11.7 million people
manufacturing goods, mostly weapons for export to our favorite despots.
The population has grown by 68%, while manufacturing jobs have declined
by 22%. Consumer spending accounted for 62.8% of GDP in 1961.
Investments totaled 14.3% of GDP and we ran a trade surplus of $4.9
billion. Today, consumer spending accounts for 71.1% of GDP. Investments
total 12.5% of GDP and we are running a $500 billion trade deficit.
Over the course of 50 years, we’ve devolved from a production and
exporting society into a consuming and borrowing society.

 






                 
  1961 1970 1980 1990 2000 2007 2010 Mar-11
Total Employment 54,106 71,005 90,530 109,487 131,786 137,599 129,819 130,738
                 
Mining 728 677 1,077 765 599 724 705 758
Construction 2,908 3,654 4,454 5,263 6,787 7,630 5,526 5,514
Manufacturing 15,011 17,848 18,733 17,695 17,263 13,879 11,524 11,667
 Total Goods Producing 18,647 22,179 24,264 23,723 24,649 22,233 17,755 17,939
                 
Trade, Transport, Utilities 11,040 14,144 18,413 22,666 26,225 26,630 24,605 24,797
Information 1,693 2,041 2,361 2,688 3,630 3,032 2,711 2,681
Finance 2,590 3,532 5,025 6,614 7,687 8,301 7,630 7,610
Professional & Business Services 3,744 5,267 7,544 10,848 16,666 17,942 16,688 17,075
Education & Health Serv. 3,030 4,577 7,072 10,984 15,109 18,322 19,564 19,875
Leisure & Hospitality 3,468 4,789 6,721 9,288 11,862 13,427 13,020 13,156
Other Services 1,188 1,789 2,755 4,261 5,168 5,494 5,364 5,439
Government 8,706 12,687 16,375 18,415 20,790 22,218 22,482 22,166
   Total Service Producing 35,459 48,826 66,266 85,764 107,137 115,366 112,064 112,799

 

A perusal of the chart shows the dramatic downturn has really
occurred since 1980. Goods producing jobs have declined by 6.3 million
in the last 30 years, while service jobs have grown by 46.5 million. Who
would want to get their hands dirty on an assembly line when they could
shuffle papers, invent CDOs, MBOs, and CDSs, create financial models to
destroy the world, bribe rating agencies, file frivolous lawsuits,
teach Keynesianism, or use the 60,000 page IRS code to help GE pay no
taxes on their $14 billion of income. Alan Greenspan and many other
“thought leaders” declared that America could succeed through its
ingenuity and creative thought process. The rest of the world could
handle the messy business of building things. So goes the hubris of an
empire that has peaked. To get a clearer view of the conversion from a
productive society to a consumption society, converting the above chart
to a percentage basis is useful. 






  1961 1970 1980 1990 2000 2007 2010 Mar-11
Total Employment 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
                 
Mining 1.3% 1.0% 1.2% 0.7% 0.5% 0.5% 0.5% 0.6%
Construction 5.4% 5.1% 4.9% 4.8% 5.2% 5.5% 4.3% 4.2%
Manufacturing 27.7% 25.1% 20.7% 16.2% 13.1% 10.1% 8.9% 8.9%
   Total Goods Producing 34.5% 31.2% 26.8% 21.7% 18.7% 16.2% 13.7% 13.7%
                 
Trade, Transport, Utilities 20.4% 19.9% 20.3% 20.7% 19.9% 19.4% 19.0% 19.0%
Information 3.1% 2.9% 2.6% 2.5% 2.8% 2.2% 2.1% 2.1%
Finance 4.8% 5.0% 5.6% 6.0% 5.8% 6.0% 5.9% 5.8%
Professional & Business Services 6.9% 7.4% 8.3% 9.9% 12.6% 13.0% 12.9% 13.1%
Education & Health Serv. 5.6% 6.4% 7.8% 10.0% 11.5% 13.3% 15.1% 15.2%
Leisure & Hospitality 6.4% 6.7% 7.4% 8.5% 9.0% 9.8% 10.0% 10.1%
Other Services 2.2% 2.5% 3.0% 3.9% 3.9% 4.0% 4.1% 4.2%
Government 16.1% 17.9% 18.1% 16.8% 15.8% 16.1% 17.3% 17.0%
   Total Service Producing 65.5% 68.8% 73.2% 78.3% 81.3% 83.8% 86.3% 86.3%

 

 In 1961 America was a well balanced economic powerhouse. Goods
production accounted for 34.5% of all jobs, with manufacturing making up
27.7% of all jobs. Goods production now accounts for a pitiful 13.7% of
all jobs in the country. The slack was picked up by financial analysts,
accountants, lawyers, tax specialists, and bankers. They surged from
supporting roles in a production society with 11.7% of the jobs in 1961
to the dominant big dogs today, with 18.9% of the jobs. The rest of the
slack was taken up by teachers, school administrators, nurses, cabana
boys and waitresses as they surged from 12% in 1961 to 25.3% of all jobs
today. There is one problem with this shift. We have millions
more educators, but our school systems churn out millions of
functionally illiterate non-critical thinking drones. We have millions
more healthcare professionals and are the most obese, unhealthy nation
on earth even though we spend more per person than any other country. A
country that employs one quarter of their workers in jobs that do not
increase the wealth of the country is a country in decline. This shift
has also pushed people into lower paying jobs.  






  1965 1970 1980 1990 2000 2007 2010 Mar-11
Total Private Industry $2.63 $3.40 $6.85 $10.20 $14.02 $17.43 $19.07 $19.30
                 
Mining $2.87 $3.77 $8.97 $13.40 $16.55 $20.97 $23.83 $24.68
Construction $3.23 $4.74 $9.37 $13.42 $17.48 $20.95 $23.22 $23.36
Manufacturing $2.49 $3.23 $7.15 $10.78 $13.55 $17.26 $18.61 $18.90
   Total Goods Producing $2.63 $3.52 $7.66 $11.46 $15.27 $18.67 $20.28 $20.48
                 
Trade, Transport, Utilities $2.94 $3.65 $7.04 $9.83 $13.31 $15.78 $16.83 $16.99
Information $4.47 $5.25 $9.47 $13.40 $19.07 $23.96 $25.86 $25.99
Finance $2.38 $3.07 $5.82 $9.99 $14.98 $19.64 $21.49 $21.63
Professional & Business Serv. $3.28 $4.04 $7.22 $11.14 $15.52 $20.15 $22.78 $23.10
Education & Health Services $2.12 $2.88 $5.93 $10.00 $13.95 $18.11 $20.12 $20.45
Leisure & Hospitality $1.17 $1.82 $3.98 $6.02 $8.32 $10.41 $11.31 $11.38
Other Services $1.25 $2.01 $5.05 $9.08 $12.73 $15.42 $17.08 $17.23
   Total Service Producing $2.63 $3.34 $6.43 $9.72 $13.62 $17.11 $18.81 $19.05
Consumer Price Index 31.50 38.80 82.40 130.70 172.20 207.34 218.06 221.31

 

The insidious affects of Federal Reserve generated inflation can be
seen in the above chart. The BLS Establishment data going back to 1965
reveals much about the hidden impact of inflation over time. In 1965 the
average hourly wage was $2.65. Back then, Americans put in a full work
week, averaging 38.6 hours per week. The average American was making
$101.52 per week. This was enough for a family to live comfortably on
with only one spouse working. Fast forward to today and we have an
average wage of $19.30 per hour and work week of 33.4 hours. This yields
an average weekly pay of $644.62. It is also necessary for most
households to have two working spouses to make ends meet. I added the
government reported CPI at the bottom of the chart to provide some
perspective on our 50 years of middle class wage compression. Applying
the change in CPI since 1965 to the change in average weekly earnings
provides the clearest view of what has been done to our country by the
Federal Reserve and the government/corporate oligarchy. It would have
taken weekly wages of $713.25 to have kept up with inflation since 1965.
The average worker today is making 10% less than they did in 1965, on
an inflation adjusted basis.

Wages in the service industries fell behind by even more, with the
exception of bankers, doctors and teachers. The finance sector wages and
the healthcare/education sector wages are 25% higher than their
inflation adjusted wages in 1965. You reap what you sow. The country has
decided that bankers, doctors, and teachers are relatively more
important to our economy than people who make products, create wealth,
and increase the productive capacity of the country. Any impartial
outcome based assessment of these choices would conclude these choices
have been an unmitigated failure.

The financial/ banking sector has peddled debt to the masses that
didn’t realize their standard of living has been declining for 50 years,
and blew up the worldwide financial system through their greed and
fraudulent business practices. We spend more per child on education than
any country in the world and test scores are lower than they were 40
years ago. Our children graduate high school with no critical thinking
skills and the inability to decipher propaganda from truth. We spend
more per person on healthcare than any other country, but obesity,
diabetes, and heart disease are rampant. Administrative bureaucracy and
vast amounts of rules and regulations consume billions in these sectors
of our economy. The simple art of creating and producing things that
other people need or want has been cast aside by a country who thought
they could borrow and spend their way to long-term prosperity.

So, here we find ourselves 18 months into a “recovery” and the
country has added 1.3 million jobs in the last year. We’ve added 529,000
lawyers, accountants, consultants and tax specialists. We’ve added
420,000 teachers, nurses and administrators. We’ve added 193,000
waitresses and hotel busboys. And we’ve added 238,000 Wal-Mart clerks.
Our well balanced economy is back in gear. What could go wrong?

The truth is that the country remains in a 50 year death spiral of
bad choices, delusion and fraud, created to benefit the few at the
expense of the many. The average American wallows in a reality of low
wages and high debt. Some of this reality has been self
inflicted. Willful ignorance is a choice. Educating yourself to the
truth is available to every American. Spending less than you make is
something everyone can do. But, at the end of the day, the 1% at the top
of the food chain controls the levers in this country. While the
average American has fallen behind over the last 50 years, the
ultra-wealthy elite have prospered.   The top 1% takes home 25% of the
national income and control 40% of the financial wealth in the country.
Their lives have improved considerably. Twenty-five years ago,
the ruling elite “earned” 12% of the national income and controlled 33%
of the financial wealth. These are the people who control the message.
They own the mainstream media. They run the Wall Street banks. They
control the Federal Reserve. They write the laws and the tax code. They
control the politicians like puppets on a string. An economic system
based upon debt and Federal Reserve generated inflation benefits these
chosen few, while destroying the middle class of America. We’ve chosen
this path and are destined to experience the same fate as Spain, the
Dutch, and Britain.

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OldPhart's picture

Man, I remember that $1.82 an hour.  Thought I was making big bucks at the time.

LowProfile's picture

That would be $50.65 priced in 90% silver.

Problem Is's picture

Canadian Silver Maple Leaf
I will work for genuine coin of the realm...

"No funny stuff!"
None of that queer metal from the US mint... Never know what's in those Banana Republic coins...

CrazyCooter's picture

If we are going with the Johnny Paycheck theme ... Jim Quinn of The Burning Platform should definately check out JP's best work (yuk yuk) ... Song and Dance Man ... my fav JP tune of all time.

Regards,

Cooter

justanotherday's picture

Tyler, I wish you'd focus on the employment-population ratio more often.

It's a simple statistic to understand, less susceptible to manipulation and fuziness....and it's been bobbing around a 30-year low for more than a year:

http://data.bls.gov/pdq/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS12300000

The drop in the same ratio for men is....well, it's unprecedented:

http://www.bls.gov/webapps/legacy/cpsatab1.htm

 

 

 

IBelieveInMagic's picture

The reality is that jobs can't be created in the US as long as the USD is the world's reserve currency -- people/businesses in other countries will desperately underbid us for those jobs. On the other hand the USD's reserve status allows us to consume outrageous amounts of energy and commodities in exchange for our currency from other countries and this advantage is so overwhelming, job loss is considered a small sacrifice to be made -- of course the job loss falls heavily on the lower rungs. The cost of providing long term welfare is considered just cost of maintaining this current state but the toll on individuals in terms of loss of skills/dignity is not being factored into the equation.

You Lie's picture

NC Employment Security commission announced on their website Friday, NC no longer qualifies for the Federal extentions for unemployement payments and all extended payments stop on April 16.    See annoucement in red:  https://www.ncesc.com/default.aspx

OldPhart's picture

That's horrifying.  And it results from numbers so fudged they were literally pulled out of someone's ass.

There's going to be a lot of pissed off, desperate, nothing left to lose, people in North Carolina pretty soon.

Heroic Couplet's picture

Yep, and in my unemployment office in North Carolina, there's a chart listing supplemental or alternative resources, and food stamps is right on it. I've never gotten to the point yet, but the staff at the unemployment offices will refer people to welfare, public assistance, and food stamps when the UI runs out. It's great to be inside the Beltway or a blog creator, but the staff at the unemployment office are the people in the trenches.

I've said before, ALL Congressional Republicans need to be out looking for jobs. Show us exactly where the Bush tax cuts have created jobs. Take Rupert, Rush, Sarah, Glennda Beck, the ACORN pimp and prostitute, and go look. Don't forget to visit and fim at the unemployment offices. Otherwise, Republicans need to be called liars, to their face, voted out of office, and kept out of office.

ARW's picture

Bush is so 3 years ago...

docj's picture

HC is just a bitter clinger.  We're going to be hearing "it's all Bush's fault" for at least another 2-years - 6 if Barry gets another term.

ParaZite's picture

I haven't seen a major increase in employment in NC. The shops and old manufacturing buildings in my neighborhood are still empty and look like bombed out buildings in Iraq at worse. Maybe this will get the people in NC off their ass, and out in the streets protesting, but I doubt it, Dancing with the Stars is on. 

RoRoTrader's picture

It is an old adage that you slide a lot further on bullshit than you can on gravel.

Milestones's picture

HaHa--Been around a long time but never heard that one. Thanks.       Milestones

DoChenRollingBearing's picture

Financial Wealth Distribution, 2007 chart above.

When it is worse than the old 80/20 rule (top 20% own 80% of the assets, but the rule applies to an amazing variety of other situations as well), there may be trouble.  Here the the bottom 80% own only 7%...

Trouble ahead, trouble behind.

DoChenRollingBearing's picture

O/T, but Nikkei is down 1.1% now...  I have not checked US futures.  

A big drop in the US equities market would help that pie chart look a little bit better balanced as well.

YouBetYourLife's picture

The manipulation of data in order to spin the economic situation in this country in the best light possible has become so blatant that only the most ignorant could possibly believe it.

Yep.  But there are a lot of ignorant Americans these days.  And why should they care, anyway?  They're getting their food stamps and other forms of socialist support, shouldered by the productive among us. 

SheHunter's picture

You do not know what you are talking about you arrogant son of a bitch.  You are not in any way supporting me and I am a statistic:  self-employed, banging on every door I can and still finding only one-third of the work I had three years ago.  Listen to companies tell me time and again: We like the work you do for us but we are struggling to keep our full time folk busy and so are not contracting any work out at all.  I do not ask for or recieve food stamps and am not eligible for unemployment.  Right now I take any job I can to keep afloat until this damn economy turns around.  So back off Mr Puff Jowl. 

RafterManFMJ's picture

You sell toaster-oven pizzas door-to-door? I don't get what you do?

YouBetYourLife's picture

I think I do know what I'm talking about, but what I'm talking about isn't people in your position.

I'm referring to the people who have no interest, and never have had an interest, in getting an education or a job and becoming productive, regardless of what's going on with the economy.  In other words, the people with a welfare state mentality, who are perfectly content to let their fellow citizens carry them through life through an endless series of social programs.  That's different from short-term assistance to people who are temporarily unemployed, which I support. 

For the past several decades we have spent an increasing percentage of our tax dollars on embedded entitlement programs which created a growing, permanently dependent class.  All so clueless politicians of both parties would have goodies to hand out so they could get re-elected. It's the greatest single reason the federal government is on the verge of defaulting on its debts, which will affect us all.  

I'm sorry for your situation. I do know what it's like; I've been unemployed a number of times and understand the frustration and the need to pay bills, which is why I support short-term assistance. The country can - and should - offer short-term assistance, but we can no longer afford a permanent entitlement system. 

The Profit Prophet's picture

Spoken like a true Blind Capitalist!  Capitalism creates a class structure by its very nature....and is wholely dependent on this class structure for its very existance - especially the  working classes - to run the machinery of the capitalist economy, be it manufacturing or service based.  Lower and working class wages also fund the growth of a healthy capitalist economy, as most of these wages (hopefully increasing wages ) are spent directly on the products and services provided by capitalist endeavors.   When potential workers can't find work, they are forced to join the lower "dependent" class. You seem to want to argue that most of the individuals that currently find themselves in the dependent class are there by choice.....a very convenient argument for a Blind Capitalist!  I, on the other hand, would argue that most individuals who are currently in the dependent class have been put there by Blind Capitalists like yourself.

As a by-product of any society, there will be a very small percentage of that society that will strategically try to live off the charity (or victimization) of there fellow citizens.  Studies have prooven that a society of rats will also structure themselves this way, so it seems to be an innate tendency of society itself.  There is also a significant percentage of the dependent class who are there through no fault of their own, for reasons of mental and/or physical infirmity. We know how to deal with those that choose victimization as their self-sustaining M.O., but what to do with those that prefer an unproductive lifestyle - given that it seems to be a natural state of any society.  Do we decide to cloth, feed, and shelter these individuals - or do we turn them out into the street to suffer and die? We can easily see how you would approach this problem....an evil by-product of a Blind Capitalist mentality.  You see, the reason there are no longer any jobs (and will be no jobs) is that Blind Capitalists like yourself have determined that they can increase their profits and personal wealth by sending our society's jobs overseas to cheap labour pools.  This strategy epitomizes the tragic short-term thinking of Blind Capitalism.  By shifting the country's wages overseas, you have shifted the country's working class wealth overseas - a strategy that can only lead to the collapse of the country in question.  The reason that you and your ilk are "blind" is because you don't see this as a problem and are completely blind to the nature of society.  As long as a Blind Capitalist sees increasing profits and personal wealth gains, they believe everything is going well.....unfortunatly nothing could be further from the truth.  Wealth disperity is the very stuff from which revolutions are born - history has taught us this fact time and again - and we can watch it happening before our very eyes in MENA today. On its present course, America will have no choice but to become a Police State in order to control its population once full-blown austerity arrives in the next few years.

To correct a very sad conclusion you try to draw - the single greatest reason the federal government is on the verge of defaulting on its debts is.....we are feeling the economic effects of Blind Capitalism.  I often struggle with the concept of whether Capitalism as a system is inherently evil.....I don't think it is.....but Blind Capitalism is undoutedly so.  Bill Gates has been promoting the concept of "Responsible Capitalism", which I would refer to as "Charity", but I fear this is too little too late for our present financial system. Charity has always had the potential to save us - and Greed the potential to destroy us.....unfortunatly we have always chosen Greed. 

T.E.I.N. everyone!   

zazay's picture

well said.. 

Thank you for a much valuable opinion.

buzzard's picture

We can no longer afford to have "Government".

Period.

linrom's picture

I bet most Americans can't wait to collect their $133/month in Food Stamps: Jamie Dimon must be green with envy. I bet he is shouldering the whole SNAP program himself. Considering that JP Morgan administers the program and charges the government $5 billion, I wonder how much fees they collect form running other entitlements programs. I wonder how many billionaires will US add in 2011 from running the giant procurement scam called the Pentagon.

 

Pondmaster's picture

As Rockefeller would say " one billionaire more" . Hey only 1 million people need to be fleeced to make a billionaire . Over and over . I don't follow the lying sack of .hit data we get from the poltiburo. Uses up valuable time/energy by being angry and fed up .

monopoly's picture

Here in Nevada we have unemployment between 16-21 percent and the highest foreclosure rate in the nation 6 months in a row. We are Number 1. Yes.

 

Great recovery Obama.

glenlloyd's picture

It makes little difference if your earnings go up if what those dollars buy is less and less.

Many, including some of my friends, do not understand that we are heading downhill at a pretty fair clip.

Pegasus Muse's picture

It's even worse when your earning stagnate or go down as the criminals debase the currency at a 8% per anum clip.  How long 'til we pull an Egypt on the bastards? 

10kby2k's picture

If only our leaders were afflicted with what Jim Carey had in Liar Liar.

honestann's picture

That would be no problem for them at all.  They'd simply tell their apologists exactly what is, exactly how they want to deceive and mislead everyone, and send them out to do so.  And that is, of course, already what they do.

Of course they would not speak to the public directly any more.

What would be more fun would be for this anti-disease to strike all presidential candidates during election time.  Now THAT would be fun.

zhandax's picture

How about a practical application of this concept?  Move election day to the fourth of April rather than the fourth of November.  Ever wonder why tax day is as far from election day as they can get it?

RobotTrader's picture

Who the hell needs a job?

When you can earn "vast fortunes" buying:

BIDU

SOHU

SINA

TZOO

NFLX

I mean really, aren't those unemployed daytraders making a killing now?

Id fight Gandhi's picture

We should all kick back and buy momos on margin. Happy days.

zaknick's picture

How's your Amerikan empire workin out for ya, bitchez?!

lmao

tek77blu's picture

once again, another straight forward fact as to why higher and higher floors are being built beneath gold and silver.

What kind of county carries a 15% food stamp welfare rate??? On top of ALL the other welfare programs already in place! http://www.youtube.com/watch?v=zk3z-JUKp3k

sgorem's picture

revolution, and blood in the streets.....................

SheHunter's picture

Yeah.  Against pompous stuffed shirt assholes like MrBetYourLife (His marvelous post is a little above yours).  I heard a line somewhere I cannot forget:  "The one thing I fear most in America is the is a big-bellied man wearing a polo shirt riding his golf cart with his cell phone glued to his ear":,

Ricky Bobby's picture

No revolution, just a quiet descent into total police state.

Long prisons and correctional unions.

Res publica mortuus est, vivat imperium

nah's picture

its a different world... im not a huge union guy ' i watched them in part slay and industry '

.

but yeah, we used to have massive union employment in this town maybe 20k dudes

.

wives, boats, trucks, beers, property.... good times with regular joes

.

well the industry is gone and we can all go to target to purchase a glass of wine... including the glasses

.

times are better when regular people can get good jobs, speak their mind, and run the world

nah's picture

its a different world... im not a huge union guy ' i watched them in part slay and industry '

.

but yeah, we used to have massive union employment in this town maybe 20k dudes

.

wives, boats, trucks, beers, property.... good times with regular joes

.

well the industry is gone and we can all go to target to purchase a glass of wine... including the glasses

.

times are better when regular people can get good jobs, speak their mind, and run the world

HungrySeagull's picture

I recall when Hershey Bars were .05 until they shrunk too much. Then they were reissued at .10, then .15 ouch.

 

It is far better to be a Temp to come and go when the job is completed as long your income net is more than your gas used for the round trip and lunch (If you did not bring it yourself) than it is to be a full time employee under the thumb of a cost cutting draconian bosses or boss intent on removing the break room, chairs to sit in (To keep you on your feet walmart style) and so on.

Because we are not working 40 hours, we are working the process to be approved for partial unemployment. If any is awarded, it will simply go into savings to be used as Debt reduction or as a fund to maintain required minimum hours per week no matter where the job itself is.  Because the benefit check far exceeds any reasonable income from both jobs. (Or three total.)

 

Finally but not last, paying off debt allows us to live well on very little. Riches is not the money. But the crops, firewood and trade with the neighbors among other things.

sethstorm's picture

Temporary work is a relationship based on the maximum distrust of the worker. It abstracts all the risk onto the worker, while giving them no real benefit. 

 

 

ParaZite's picture

McDonalds is hiring. Horray fast food! Good bye 20 - 40 dollar an hour job, hello paper hat, corporate uniform, and 7.50 an hour... sweet salvation for the desperate, and Change Obama wants you to believe in. 

OldPhart's picture

Here's how that works:

Instead of three to four 40-hour per week employees that have health insurance, 401k match, and McD pays unemployment.  McD can hire nine 20 hour per week employees that have no health insurance, no 401-k, and McD gets paid by states for helping to REDUCE unemployment.

It's a great racket.

SoCalBusted's picture

Plus they have a waiver from ObamaCare

SheHunter's picture

Yes. But the part time hiring does wonders in showing how our unemployment rate is decreasing.  So when the under-employed and under- paid masses get home at night and turn on the news they can listen to the talking heads praise the economic recovery..while they try and decide which bills it will be OK to pay just part of...and which bills can be set aside for another week.

Bansters-in-my- feces's picture

"The manipulation of data in order to spin the economic situation in this country in the best light possible has become so blatant that only the most ignorant could possibly believe it. The corporate mainstream media dutifully reports the propaganda, without ever critically assessing what is being distributed by the government."

Well there seems to be a whole shitload of "ignorant sheeple"

AhhhItBurns's picture

 

I can see why people don't understand, or don't want to understand. There is a massive amount of verbiage to cover the true meaning of financial and economic terms. The average person relies on a pretty face on TV to explain concepts, and within the time constraints of the viewer's attention span and the bountiful commercial breaks. 

There is an aura in the media that nothing economicaly bad can happen in the long term. No economic event will have any long term relevance, and there will always be the Bald Bernank to bail out the country. Besides, most of us have phones or other tools capable of facilitating us to learn more about our economic climate, but there is just so much porn to watch and games to play.  If you have not seen this Huxley/Orwell comic, take a look:

http://i.imgur.com/tnqjz.jpg