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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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Mon, 04/04/2011 - 22:49 | Link to Comment OldPhart
OldPhart's picture

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

Mon, 04/04/2011 - 23:15 | Link to Comment LowProfile
LowProfile's picture

That would be $50.65 priced in 90% silver.

Tue, 04/05/2011 - 00:50 | Link to Comment Problem Is
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...

Tue, 04/05/2011 - 01:31 | Link to Comment CrazyCooter
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

Tue, 04/05/2011 - 08:46 | Link to Comment justanotherday
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

 

 

 

Tue, 04/05/2011 - 09:18 | Link to Comment IBelieveInMagic
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.

Mon, 04/04/2011 - 22:53 | Link to Comment You Lie
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

Mon, 04/04/2011 - 23:09 | Link to Comment OldPhart
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.

Tue, 04/05/2011 - 06:12 | Link to Comment Heroic Couplet
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.

Tue, 04/05/2011 - 07:02 | Link to Comment ARW
ARW's picture

Bush is so 3 years ago...

Tue, 04/05/2011 - 07:09 | Link to Comment docj
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.

Tue, 04/05/2011 - 08:14 | Link to Comment ParaZite
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. 

Mon, 04/04/2011 - 22:58 | Link to Comment RoRoTrader
RoRoTrader's picture

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

Mon, 04/04/2011 - 23:37 | Link to Comment Milestones
Milestones's picture

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

Mon, 04/04/2011 - 23:00 | Link to Comment DoChenRollingBearing
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.

Mon, 04/04/2011 - 23:07 | Link to Comment DoChenRollingBearing
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.

Mon, 04/04/2011 - 23:00 | Link to Comment YouBetYourLife
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. 

Tue, 04/05/2011 - 01:39 | Link to Comment SheHunter
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. 

Tue, 04/05/2011 - 02:18 | Link to Comment RafterManFMJ
RafterManFMJ's picture

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

Tue, 04/05/2011 - 07:18 | Link to Comment YouBetYourLife
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. 

Tue, 04/05/2011 - 09:01 | Link to Comment The Profit Prophet
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!   

Sun, 04/10/2011 - 11:58 | Link to Comment zazay
zazay's picture

well said.. 

Thank you for a much valuable opinion.

Tue, 04/05/2011 - 09:15 | Link to Comment buzzard
buzzard's picture

We can no longer afford to have "Government".

Period.

Tue, 04/05/2011 - 01:55 | Link to Comment linrom
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.

 

Tue, 04/05/2011 - 04:36 | Link to Comment Pondmaster
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 .

Mon, 04/04/2011 - 22:58 | Link to Comment monopoly
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.

Mon, 04/04/2011 - 23:08 | Link to Comment glenlloyd
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.

Mon, 04/04/2011 - 23:44 | Link to Comment Pegasus Muse
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? 

Mon, 04/04/2011 - 23:09 | Link to Comment 10kby2k
10kby2k's picture

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

Tue, 04/05/2011 - 00:47 | Link to Comment honestann
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.

Tue, 04/05/2011 - 02:10 | Link to Comment zhandax
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?

Mon, 04/04/2011 - 23:14 | Link to Comment RobotTrader
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?

Mon, 04/04/2011 - 23:31 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

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

Tue, 04/05/2011 - 00:01 | Link to Comment 10kby2k
10kby2k's picture

wtf happened to NTAP

Mon, 04/04/2011 - 23:14 | Link to Comment zaknick
zaknick's picture

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

lmao

Mon, 04/04/2011 - 23:20 | Link to Comment tek77blu
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

Mon, 04/04/2011 - 23:21 | Link to Comment sgorem
sgorem's picture

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

Tue, 04/05/2011 - 01:44 | Link to Comment SheHunter
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":,

Tue, 04/05/2011 - 07:13 | Link to Comment Ricky Bobby
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

Mon, 04/04/2011 - 23:24 | Link to Comment nah
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

Mon, 04/04/2011 - 23:24 | Link to Comment nah
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

Mon, 04/04/2011 - 23:25 | Link to Comment HungrySeagull
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.

Mon, 04/04/2011 - 23:53 | Link to Comment sethstorm
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. 

 

 

Mon, 04/04/2011 - 23:25 | Link to Comment ParaZite
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. 

Tue, 04/05/2011 - 00:13 | Link to Comment OldPhart
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.

Tue, 04/05/2011 - 02:03 | Link to Comment SoCalBusted
SoCalBusted's picture

Plus they have a waiver from ObamaCare

Tue, 04/05/2011 - 02:03 | Link to Comment SheHunter
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.

Mon, 04/04/2011 - 23:32 | Link to Comment Bansters-in-my-...
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"

Mon, 04/04/2011 - 23:41 | Link to Comment AhhhItBurns
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

Tue, 04/05/2011 - 03:13 | Link to Comment Matte_Black
Matte_Black's picture

You are utterly correct, sir.

We need a simple, easy to understand way of explaining an idea that is overwhelming not just in its nomenclature and magnitude, but its conclusions as well.

And, we need it soon.

 

Tue, 04/05/2011 - 07:40 | Link to Comment chistletoe
chistletoe's picture

hunger is the most eloquent language in the entire human experience.

Its just beginning to be spoken in the USA

Tue, 04/05/2011 - 04:37 | Link to Comment Banjo
Banjo's picture

AhhhItBurns: Both Huxley and Orwell are right. The gun and force are the ultimate arbiter of justice and compliance in our society. The judiciary and legal system is backed up by police with guns and a penal system. Try not giving your 30% of your productive work to the government for capital re-allocation.

 

When a young adult gets Tazered for asking questions of John Kerry (FORCE / CONTROL / VIOLENCE) then the message is clear. You can take the painless way out TV, movies, internet, games or if you agitate and resist you will be punished.

 

Gee why do people sit at home, eat and be entertained the classic bread and circuses. When the bread runs out then it will be trouble time. Will there be enough police to forceably enslave the population? North Korea says yes, Eqypt says no (maybe not sure who is really in charge)

Anyhows just some thoughts and nice cartoon but I don't see the views presented as mutually exclusive. Combined they are even more terrifying.

 

Tue, 04/05/2011 - 07:15 | Link to Comment Ricky Bobby
Ricky Bobby's picture

+1

Sat, 04/09/2011 - 22:54 | Link to Comment Banjo
Banjo's picture

I would just add weight to the Orwell BRUTE FORCE control argument

  • Julian Assange - (locked down for wanting to awaken people)
  • People getting sacked for saying bad things about their employers on Facebook
  • Dixie Chicks protesting the Iraq war recieved massive backlash.
  • many other examples Im sure.
Tue, 04/05/2011 - 00:15 | Link to Comment DavidPierre
DavidPierre's picture

Smokey...the9/11Moron...Quinn:

Take This Drivel and Shove It !

"Willful ignorance is a choice. Educating yourself to the truth is available to every American."

Might want to forget all of your cribbed charts, graphs, numbers and percentages and other already known knowns.

Enlighten yourself !!! ...

...To the open treason and murderous realpolitic "They" have used many times against you ameriKlan MORONS.

Or not... just continue to be another Karl Denninger wannabee.

 

Mon, 04/04/2011 - 23:40 | Link to Comment Lady Heather...UNCLE
Lady Heather...UNCLE's picture

Great exposition...RIP USA...greed and hubris are empire-killers

Mon, 04/04/2011 - 23:46 | Link to Comment Seasmoke
Seasmoke's picture

not working saves on gas, tolls , taxes, lunch, etc......once you get used to it, its not so bad.....if you can navigate the system and play the game like a pro, its a great life

Tue, 04/05/2011 - 00:32 | Link to Comment dark pools of soros
dark pools of soros's picture

(ie: he's dating a fat chick)

Tue, 04/05/2011 - 01:09 | Link to Comment dark pools of soros
dark pools of soros's picture

whoever junked me is dating one too

Tue, 04/05/2011 - 01:17 | Link to Comment Truthiness
Truthiness's picture

yes, but then what occupies your days with meaning and fulfillment?

Tue, 04/05/2011 - 05:23 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

What per centage of people working part time at Wal Mart, McDonalds, etc, have days of meaning and fulfillment?

Mon, 04/04/2011 - 23:51 | Link to Comment Stuck on Zero
Stuck on Zero's picture

It's a good thing the politicians are sending all the jobs to China.  They have a terrible 7% poverty rate!

Mon, 04/04/2011 - 23:55 | Link to Comment alien-IQ
alien-IQ's picture

Great article!

Tue, 04/05/2011 - 00:39 | Link to Comment i-dog
i-dog's picture

No it's not! ... it's disingenuous ... states what is rather than what needs to be done to fix it. Typical disinformation: Tell some obvious truths first, then lead the listener/reader down a blind alley. Anyone who reads ZH already knows "what is".

For example:

"Some of this reality has been self inflicted. Willful ignorance is a choice. Educating yourself to the truth is available to every American."

That is a red herring. The education system deliberately hides the truth ... The mainstream media deliberately hides the truth ... The alternative media is split between bloggers (like ZH) working to expose the truth and paid shills (like Quinn, Denninger and Beck) trying to obscure the truth ... Politicians speaking directly to the public at town meetings and through well-crafted advertisements just tell blatant lies! ("no new taxes"; "mission accomplished"; "change you can believe in").

How can an average American ever hope to learn what is the truth?

Tue, 04/05/2011 - 06:27 | Link to Comment EvlTheCat
EvlTheCat's picture

Get a library card it's free.

Tue, 04/05/2011 - 08:10 | Link to Comment Jim Quinn
Jim Quinn's picture

i-dog must eat his own shit. Paid shill my fat ass, you douchebag. No one pays me a fucking cent to write these articles. Shove your disinformation up your ass.

Tue, 04/05/2011 - 00:07 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

I propose a toast to the 21st Century!

What a nightmare.

Tue, 04/05/2011 - 00:28 | Link to Comment trav7777
trav7777's picture

well, we all KNEW that the UE headline rate was going to decline as the waves of 2008ers started to drop off the rolls.  That is happening now and expect them to relentlessly drive the numbers toward that goal because the reelection campaign of The One has commenced

Tue, 04/05/2011 - 00:29 | Link to Comment dark pools of soros
dark pools of soros's picture

this is because TPTB want to build the Empire up and then suck it dry and move on..  everyone seems to think it was that Empire's mistakes.. NO. it's by design

Tue, 04/05/2011 - 08:21 | Link to Comment Bob
Bob's picture

Exactly.  The "Empire" was merely a vehicle for the enrichment of the oligarchy.  There's no sadness among them for its demise.  In fact, they're clearly doing all within their power to drain it of the life that remains.

Tue, 04/05/2011 - 00:39 | Link to Comment Caviar Emptor
Caviar Emptor's picture

As the grip on the yuppie dream has gotten more and more tenuous, the quality of life for most has deteriorated and the struggle to maintain status at any cost has become an obsession. So yes, they lie to cover up the fact that beneath the surface things are crummy. 

Tue, 04/05/2011 - 00:55 | Link to Comment Problem Is
Problem Is's picture

Hey Tyler: More Quinn please...

Solid analysis on the Wall-Street-Puppet-Teleprompter-Liar-in-Chief and his lackey Austan "The Ghoul" Goolsbee...

That One-Term-Carter has got to go... The change is still in your pocket...

Tue, 04/05/2011 - 00:57 | Link to Comment NOPOMO
NOPOMO's picture

Who does Bernanke think he is fooling?  Record food stamp participation, continued decline in housing, more homeowners deciding not to make mortgage payments and the list goes on.  Bernanke is doing nothing more than stealing from the productive part of society to feed the unproductive part.  Soon we all will starve Ben....then what are you going to do...print food?

Tue, 04/05/2011 - 01:11 | Link to Comment RmcAZ
RmcAZ's picture

So the solution to all of this is higher taxes on the rich, right?

</sarc>

Excellent article that gives a good summary of our situation.

Tue, 04/05/2011 - 02:12 | Link to Comment linrom
linrom's picture

I'll bite. The answer is resounding yes! So now it's your turn to tell me how the rich already they pay all the taxes and for everything else and create all the jobs! Right?

Ok. As Quinn's essay points there are no jobs. We're deep in debt. And foremost the ranks of the rich keep growing.

If we appropriately taxed the rich, the rich would not be getting richer. If the rich created jobs, we wouldn't have double digit unemployment and if the rich paid for anything considering their astounding wealth, we would not be running trillion dollar deficits.

Tue, 04/05/2011 - 04:29 | Link to Comment zhandax
zhandax's picture

Just make sure you understand the concept of rich.  If your income is $1MM a year, you haven't been in that top 1% since 1995. http://www.cbo.gov/publications/collections/tax/2010/all_tables.pdf 

However, quite a few of the small business people who do create jobs live in this space.  Unfortunately, populist campaigns to 'soak the rich' would all too often target these people who do not have their own paid lobbyists and the true vultures who should be taxed out of existence skate.

edit: I just noticed that the .pdf does not work as a clickable link.  If you copy it into an address bar, it will produce the requested document.   Conversley, if, after seeing the 404 message, you click in the address bar and hit enter, it will resolve the link.

 

Tue, 04/05/2011 - 04:15 | Link to Comment Tejano
Tejano's picture

But, Linrom, you can't tax tax the rich. It's not within your power. It can't be done; won't be done; has never been done.

Like Mr. Quinn says, "They write the laws and the tax code. They control the politicians like puppets on a string."

No, we tax the productive class to further enrich the power elite.  That's how taxes work.

Tue, 04/05/2011 - 05:31 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

You are wrong. As recently as 1965 the marginal income tax on those earning the highest salaries was 95%. Not a typo... ninety five per cent.

The marginal tax rate slowly declined until Regan, in all his wisdom, cut taxes for the rich as part of his 'trickly down' policy.

How well is 'trickle down' working for you?

Tue, 04/05/2011 - 10:11 | Link to Comment gina distrusts gov
gina distrusts gov's picture

Regan, in all his wisdom, cut taxes for the rich as part of his 'trickle down' policy.

After i loot the economy I  get your case of beer then drink it you get the trickle down part

Wed, 05/04/2011 - 22:25 | Link to Comment Tejano
Tejano's picture

It works very well, thank you.

Tue, 04/05/2011 - 01:51 | Link to Comment Peter K
Peter K's picture

I guess socialism doesn't work, even for the one. Madness, shear madness.....

Tue, 04/05/2011 - 01:54 | Link to Comment SheHunter
SheHunter's picture

How many wars will we be fighting once Libya is added to the list? Five?  Six?   Ever watch the old dominant wild horse stud trying to guard all his mares during breeding season? The younger studs take turns ganging up on him and each fight makes him weaker.  Still he tries to hold his mares and fight every fight he can.  Before long the young studs have him drained. He loses his mares and sometimes his life.  America cannot say no to any war although we get weaker with each war as the middle class is forced to pay the bills.  Ever think the Middle Eastern countries have an unspoken agreement to draw us into enough wars that we become impoverished to the point of being helpless?

Tue, 04/05/2011 - 07:55 | Link to Comment Vlad Tepid
Vlad Tepid's picture

Great analogy.  Let me take it a step futher:  There is a tiger called China waiting in the brush to clean up the spoils - dead stud and young (weakened) bucks together.

Tue, 04/05/2011 - 01:56 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

http://www.youtube.com/watch?v=8XYHQVYry_0

In the land of the Lukewarm and the New World Order Babylonian Lizzard Kings of the United Socialist States of the Great American Wal Mart of Communist China's global demand destruction, food stamps, unemployment, foreclosure, debt as money, bankrupt government, protests, revolution, religious conflict, nuclear meltdown, oil well failures, commodity price inflation, crop failure, fish kills, bird deaths, extreme drout, hurricanes, tornados, earthquakes, floods, tsunamis, U.N-peace keeping combat missions, lies, deception, undeclared wars, deadly pandemics and famine etc... are all good leading economic indicators of one hell of an imbalance sheet by which capital gains are secured in the belly of the multi trillion derivative market munching beast.

...and the Angels sing http://www.youtube.com/watch?v=-UL3z5BmIgk&feature=related ...nothing prophetic to see here, move along. There's a batch of clover waiting for you outside Babylon's gates Nebuchadnezzar. Try not to dash those iron and clay toes on the White Stone though. The Stone will hurt, more than the bruise on your heal from kicking your own ass into the field, if you are not careful to mind the Rock.

Tue, 04/05/2011 - 02:18 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

P.S. This ones for you TD http://www.youtube.com/watch?v=EPrSVkTRb24 Great title for your well done article. Thank you very much for your effort(s) to inform and inspire people with the facts.

Tue, 04/05/2011 - 02:03 | Link to Comment natew
natew's picture

"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%."

Apparently the author forgot about the concept of baby boomers.   Since 2003, about 6 to 12 million enter the 60-65 age range per year, while the 20-24 range has been flat.  Matter of fact, since 2000, there has been almost no increase in the 20-44 age range for total population.  Meanwhile, over 10 million entered the 60-69 age range in the last 10 years. 

What you're seeing on that chart is millions of baby boomers retiring, sometimes early.  By 2015, the 18-60 workforce will have only added about 10 million workers since 2005 (3 million of those on the verge of retiring), even though the total population increased 36 million plus.

Tue, 04/05/2011 - 02:59 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Your data is incorrect.  I looked at this carefully a few weeks ago at the Census.gov site.

Only a small percentage of the loss of workforce is explained by retirees, and particularly, the age group of 16-24 (the BLS calls ages less than 18 working age) is not flat.  It is growing sharply.

You clearly gave this a look, but you have made mistakes.  Retirees are not the answer to the loss of workforce total.

Tue, 04/05/2011 - 02:47 | Link to Comment S.P.Q.R.
S.P.Q.R.'s picture

Blood bath is just beginning, Wal-Mart price hikes later this summer will serve as green light for inflation spiral and crush those teetering on the edge.  Plus, how many service jobs created in last few years were simply americans finally getting desperate enough to take jobs from illegals.

Tue, 04/05/2011 - 05:08 | Link to Comment docj
docj's picture

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.

The Boston Globe in mid-2009 actually had a story featuring the "liberating" effects of employment, even dubbing it - get this - FUNEMPLOYMENT!  I merely chalked it up to one of the earliest in a long line of stories that would never, ever have appeared in said paper had the old fart been elected in 2008 rather than Teh Won - but it's only gotten sillier in "the objective press" since then.

Tue, 04/05/2011 - 10:45 | Link to Comment spekulatn
spekulatn's picture

+1

Tue, 04/05/2011 - 05:38 | Link to Comment VyseLegendaire
VyseLegendaire's picture

TL;DR. BTFD.

 

All kidding aside, good post.  The fail is baked into the cake. 

Tue, 04/05/2011 - 06:05 | Link to Comment Mr. Regression
Mr. Regression's picture

The writer makes some interesting observations.  For the sake of argument let's just assume for a moment that the observations are all correct.

I'm beginning to form the opinion that while I find the wealth disparity disturbing (and I'm in that top 10%) there isn't a damn thing I'm going to do about it.

I can run away from investing in equities, but it seems that I'm just hurting myself by missing an opportunity.  When I was a kid my parents told me "those who have the gold make the rules".  I'm not talking about PM's here though.

Nothing has changed!  As much as many posters here see the injustice and unfairness in our system (an I agree with them)

It is what it is.  There will be no revolution here.  It took the Egyptions and Lybians what?, 40 or 50 years to rise up under FAR worse oppression.

We'll have our ups and downs but the rich won't be hurt much.  Neither will the stock market in the long run.

What's that they say.....BTFD's?

Tue, 04/05/2011 - 08:56 | Link to Comment alien-IQ
alien-IQ's picture

I believe that when you stated "There will be no revolution here", what you meant was "I Hope There will be no revolution here".

 

And indeed you should...from the sound of your post...you won't fare too well.

 

By the way...here is some video of that revolution that is "not" happening:

http://www.youtube.com/watch?v=gcHEJ2xl_uo&feature=player_embedded#at=20

Tue, 04/05/2011 - 07:40 | Link to Comment sullymandias
sullymandias'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.

It doesn't require ignorance to believe in something that is obviously patently false. Denial works just as well.

Tue, 04/05/2011 - 07:55 | Link to Comment chistletoe
chistletoe's picture

No, there won't be a revolution here.

 

Just look around you, on the streets, on the sobway, on the highways.

Not only has everybody been trained to ignorance and hopium.

More critical than that, they have all been trained to distrust their neighbors, to live in cocoons with very strong social structures inhibiting conversations with strangers, inhibiting normal social discourse, inhibiting cooperation in getting anything accomplished, inhibiting tolerance and acceptance among individuals with different intersts and tastes.

There will not be a rebellion because nobody will cooperate with anyone else.  Sure, there's lots and lots of guns out there.  There's likely to be millions upon millions of "lone gunman" going postal.  Its going to get out of control.  But that does not make for a rebellion.

Tue, 04/05/2011 - 08:17 | Link to Comment Ying-Yang
Ying-Yang's picture

Who is worth a yearly salary of $1,000,000 a year?

A banker, breadmaker, teacher, plumber, doctor, policeman, firefighter.... who?

A person that saves your life or a person that invests your money?

There was a time many centuries ago that people lived together and began to specialize in work for the betterment of the tribe.

Some hunted better, some built better living huts, some were old and could not work but told stories of days past and how things went bad or how things went well so the tribe would not make the same mistakes again.

Some could raise offspring better and trained children in tribal customs so they would contribute to the good of the whole.

Then basic instincts kicked in. Some felt they worked harder, fought harder and deserved more and more. With more diversity of specialization came jealousy, narcissism and greed.

Over time the tribe fought among themselves and a new order arose only to repeat the cycle over and over to today.

With all the technology and medical advances we see today in our tribe why do we still have 29,863 children under the age of 5 die each year due to hunger?

How can the tribal leaders, men of wealth, sit around and count their spoils while children die?

The tribe is growing restless and heads will end up on tribal poles.

 

Tue, 04/05/2011 - 10:09 | Link to Comment Fiat Money
Fiat Money's picture

"How can the tribal leaders, men of wealth, sit around and count their spoils while children die?"

  love your egalitarian, ideolized paleolithic (pre agriculture & sedentary) lifestyle lifestyle  there, Yin-Yang, but, sadly, it is an oversimplification... by several orders of magnitude. 

Agriculture & sedentary life means that CONTROL of LAND vs you social competition becomes  critical to you & your family's future; i.e, what's to stop your HUNGRY neighbors from harvesting YOUR wheat field when it ripens, after YOU and your family (or clan/tribe) have INVESTED so much time and energy tilling, planting, weeding, and guarding the grain fields for an entire season or three?  

   I need merely point to chimpanzee  or other primate and monkey social behavior -  equivalent to MILLIONS of years of human prehistory - to model this hyper-aggressive social, territorial, turf-war  behavior.  

  There will ALWAYS be COMPETITION for SCARCE resources (even in the most abundant of food resource locations... the POPULATION WILL GROW until that food producing abundance is put under severe pressure), and, it turns out, that chimpanzees & monkeys "deal" with that resource & subsistence stress in exactly the SAME WAY we humans do: by FIGHTING, and making political and WAR-MAKING ALLIANCES.   

 Jane Goodall researched chimp behavior in Tanzania rain forests, and came to the disturbing conclusion (now well known) that chimps not only  engaged in ORGANIZED HUNTS of smaller monkeys (who were "stealing" the fruit of trees on chimp turf that the chimps were waiting on  to ripen),  but the chimps also engaged in ORGANIZED WAR against neighboring troops... and, when there were no rival troupes to confront,  a large chimp troupe would SPLIT in to 2 different factions - A PURGE! 

  Eventually leading to WAR vs the weaker troupe, and ITS EVENTUAL EXTERMINATION. 

  It's funny, in a sad way, how "god" (the brutal god of the old testament bible) is a near perfect literary & psychological distillation of a powerful, alpha-male chimp, who can incite TERROR in his own troupe, even when he is not physically present.

 Merely the THREAT of a beating or pummeling by the alpha male, can send the other males of the troupe into an aggressive  frenzy  by acting out the motions of violence.

After the alpha male has departed to make his rounds, the other  big male  sometimes   mistakenly believe that "their  leader" is returning...

  whereupon the other adult male chimps work themselves into a frenzy,  making themselves look bigger and more dangerous.  When the bully alpha male finally does return, he will look for a weaker, easier target to bully than one of the large alpha males that have already worked themselves up to a combative, aggressive hype. 

 (Just as  modern athletes and warriors "hype themselves up" before a big game or battle!)

 This is APPLIED TERROR, and the FEAR and AWE that subordinate chimps felt towards their brutal alpha male leader, is probably the psychological basis for organized religions in humans. 

 The reason the bible has such a strong hold on our human culture(s) and lives, is because even when a rogue male or gang USURPS power...  they will still want to exercise the PYSCHOLOGICAL CONTROLS of DOMINANCE & SUBMISSION, because you can't kill everyone, you need people to build & care for your palaces, grow your crops, make your weapons, etc. 

 All kings, tyrants, and dictators are paranoid of being killed by external enemies or in a palace coup,  so they will grab at ANY cultural construct that LEGITIMIZES their power & rule -  enter "religion" and CONFORMITY to the "wishes of god" - which, if succesfully applied, can greatly reduce the threat of a leader being assassinated & overthrown by his own people.

 It works the same, whether the "leaders" are clan, tribal, great empire conquerors... or hidden financial emperors.  You must CREATE a structure which LEGITIMIZES YOUR RULE, and treats threats and opponents as enemies to be crushed & killed.   This last requires DEHUMANIZING the enemy...  as in "counting money as children die." 

      Historians pretty much concur, the DECLINE & FALL OF ROME, passed the point of no return, when Romans arrogantly gave no more support to their Vandal (?) allies (who in turn were under tremendous, murderous pressure from invading Huns to their north-east), than one dog as meat, in exchange for a child sold into Roman slavery.   Obviously, the Vandals were on the verge of STARVATION, to take such a horrid "deal" - and they would CONQUER Rome within a generation. 

Tue, 04/05/2011 - 09:27 | Link to Comment Fiat Money
Fiat Money's picture

 "Barack Obama and his minions..."

 make that, "Barack O-idiot and HIS PUPPET-MASTERS...."  !!!!http://www.jewishvirtuallibrary.org/jsource/US-Israel/obamajews.html  

  

Tue, 04/05/2011 - 09:56 | Link to Comment Don Birnam
Don Birnam's picture

Ah, but Tyler, the numbers are proof -- the economy is recovering !

Get with the program, people -- B. Hussein Obama kicked off his re-election campaign yesterday ! Hope and Change doesn't come cheap: Barry seeks to raise $ 1 billion to secure his progressive throne. As such, the BLS numbers don't lie, people ! Pumping the pimped payroll numbers is good politics !

So, come on ! get with it ! "Are You In ?"

http://blogs.suntimes.com/sweet/2011/04/obama_to_hit_chicagos_navy_pie.html

Tue, 04/05/2011 - 09:58 | Link to Comment aerial view
aerial view's picture

The food stamp number is off by at least 10%. I have met many people who are either too proud to apply or have help from family. I also know quite a few recent college graduates who have minimal paying jobs, live at home with their parents and have enormous student loans to pay off. Unfortunately, due to lack of transparency and truthful reporting of data, the U.S. will continue it's tried and true way of manipulation and deceit until it is finally too late. 

Tue, 04/05/2011 - 09:59 | Link to Comment aerial view
aerial view's picture

The food stamp number is off by at least 10%. I have met many people who are either too proud to apply or have help from family. I also know quite a few recent college graduates who have minimal paying jobs, live at home with their parents and have enormous student loans to pay off. Unfortunately, due to lack of transparency and truthful reporting of data, the U.S. will continue it's tried and true way of manipulation and deceit until it is finally too late. 

Tue, 04/05/2011 - 10:02 | Link to Comment aerial view
aerial view's picture

The food stamp number is off by at least 10%. I have met many people who are either too proud to apply or have help from family. I also know quite a few recent college graduates who have minimal paying jobs, live at home with their parents and have enormous student loans to pay off. Unfortunately, due to lack of transparency and truthful reporting of data, the U.S. will continue it's tried and true way of manipulation and deceit until it is finally too late. 

Sat, 04/09/2011 - 21:51 | Link to Comment thames222
thames222's picture

Liars, liars, liars.  People are still losing their jobs left and right, it's on the government to start really creating some opportunities for employment.  What's good with a new New Deal?  Let's get everyone who wants to work doing something productive here or overseas.  It's not that difficult.

 

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