• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Labor Force Participation Plunges To Fresh 26 Year Low

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Fri, 02/04/2011 - 10:00 | 934427 dryam
dryam's picture

That's odd.  I don't hear much about this number in the MSM.  Thank God the Unemployment rate has plunged to 9.0%. 

Fri, 02/04/2011 - 10:06 | 934452 HarryWanqer
HarryWanqer's picture

Let's just say it.  People are getting lazy.  They should be honored to work part time at Walmart or Burger King.  Get off your ass and be a patriot.

Fri, 02/04/2011 - 10:09 | 934461 pan-the-ist
pan-the-ist's picture

Exactly! If everyone worked 10 hours a week we would have full employment.

Instead of lazy f***ing bums, I call them 'non-participants.'

Fri, 02/04/2011 - 12:26 | 934996 potatomafia
potatomafia's picture

Maybe if our money hadnt lost ~95% of its value, we could get away with working less hours and letting more people enter the labor force...  You know, like during the industrial revolution...  Work less hours, and have a better life with nicer things!  Standard of living UP, hours worked DOWN.

Fri, 02/04/2011 - 15:57 | 935585 Quixotic_Not
Quixotic_Not's picture

U$D losing value wasn't a happenstance occurrence...

The Perp School/Ivy League Racketeers began disassembling U.S. Industry (you know, the good middle class job base) and shipping it out of the states in the 1970s, and they profited greatly from the process.

As usual, degenerate acedemia led the devolution, and it became a self-fulfilling circle jerk...

Then the Kleptocrat culture, with the help of the (D) & (R) Oligarch culture, began in earnest to blow the debt bubble (through deregulation), and used their partner in crime Da Fed's Treasury (really one entity now for several decades) to lower interest rates and export inflation to developing countries.

When the runaway growth pattern for the above crashed (2007-2008), they switched to Direct Deposit Looting (TARP et al.) of the U.S. Tax producers, even with close to 80% of the electorate against it!

Of course there were a multitude of other complex scams involved, e.g. creation of derivative/CDO/SIV et al. scams and MSM propaganda fostering of the flip-for-profit parasitical mindset, but the basic premise underlies all...

The final move will be to rush in and buy up everything for pennies, once the huddled masses are stripped completely - I wish them good luck on their end game though, for that road is paved with unintended consequences IMHO.

Fri, 02/04/2011 - 10:20 | 934516 topcallingtroll
topcallingtroll's picture

You tell 'em Harry!

Fri, 02/04/2011 - 10:28 | 934547 RKDS
RKDS's picture

The idiots that junked you have probably never had to work at Burger King or Walmart.

Fri, 02/04/2011 - 10:34 | 934570 Lincolns Mullet
Lincolns Mullet's picture
Prophet Harry spittin' da truth, respect!!  Booyakasha!!
Fri, 02/04/2011 - 11:13 | 934718 ATTILA THE WIMP
ATTILA THE WIMP's picture

Quite so, me Lord Wagner. Better still to flog the lot of them and transport them to Australia.

Fri, 02/04/2011 - 11:15 | 934727 Missing_Link
Missing_Link's picture

Come on, people.  Harry makes the first sensible post in his entire life and 15 of you junk it?  At least read past the name before hitting the "Junk" button!

Fri, 02/04/2011 - 13:10 | 935183 Bartanist
Bartanist's picture

Ya see, the problem is not laziness. It is loss of hope. Think about it.

Hope for something better. Hope to achieve something. Hope is what drives people to do anything because they are sacrificing today for what they perceive can be achieved tomorrow.

When a banking system, government and corporatocracy systematically rips away people's hope by telling them they are not good enough, that they are not wanted and it is learned that everything that has been told to them is a lie; first there is disillusionment and then people blame themselves (not others) ... and only later when they get desperate do they discover that it really is not their fault and the deck has been stacked against them, that they get angry and violent (or at least most people will).

... but change takes longer than expected because of inertia. The government has been seriously preparing for the fall since 1999, and now it seems as if they feel that every year they gain without destruction is a gift (or maybe I have that backwards ... oh well). So, they party like it is 1999, and seemingly don't even think about trying to actually fix things, because that would affect them most.

If it happens naturally then they can rationalize in their tiny little sociopathic minds that "it wasn't their fault".

However, give the people real hope and a goal and they will rise to the challenge. It is human nature. Give them false hope and hypocrisy and they will lay down to be trampled over (until they figure out who to blame). The government continues to contrive false rallying points and false hope. They seemingly will never learn.

Fri, 02/04/2011 - 13:26 | 935272 Bartanist
Bartanist's picture

By the way, by killing America they can rejuvenate it. The problem is that sociopathic useless parasitic elitists think they can destroy it and still remain at the top with a then cowed slave force.

Something tells me that it will not work.

Fri, 02/04/2011 - 16:35 | 936043 patience...
patience...'s picture

And before you reply, check the name. This alter Harry number 4.

Fri, 02/04/2011 - 11:43 | 934817 TheAkashicRecord
TheAkashicRecord's picture

Selling poison is patriotic!  Our culture is a virus, one that will eventually destroy the host.  

 

How tiny Nauru became world's fattest nation

 

The rise is being driven by increasing urbanisation, the growth of sedentary, office-based lifestyles and the substitution of Western-style fast foods for traditional diets. Researchers from Imperial CollegeLondon and McMaster University in Canada, writing in The Lancet, describe it as a "tsunami of obesity that will eventually affect all regions of the world".

Obesity has grown as a result of the importation of Western foods paid for with proceeds from phosphate mining. The most popular dish is fried chicken and cola.

http://www.independent.co.uk/life-style/health-and-families/health-news/how-tiny-nauru-became-worlds-fattest-nation-2203835.html

 

A 10 year old boy declares war on the world.

http://www.youtube.com/watch?v=XGxBizeiL3s 

Fri, 02/04/2011 - 11:55 | 934870 Pure Evil
Pure Evil's picture

I think the real question is, has Cranqer Wanqer ever worked at Walmart or Burger King.

Drop by and put in your application and see if you get a call back before you bitch about everyone else's lazy ass.

Fri, 02/04/2011 - 12:05 | 934918 HarryWanqer
HarryWanqer's picture

No I haven't.  But in the unlikely event my home decor business became unprofitable, I wouldn't be ashamed to work at Walmart selling high quality Chinese products.

Fri, 02/04/2011 - 12:05 | 934919 HarryWanqer
HarryWanqer's picture

No I haven't.  But in the unlikely event my home decor business became unprofitable, I wouldn't be ashamed to work at Walmart selling high quality Chinese products.

Fri, 02/04/2011 - 12:18 | 934962 TruthInSunshine
TruthInSunshine's picture

Since when do urinal cakes qualify as 'home decor?'

Are you selling designer urinal cakes?

Fri, 02/04/2011 - 12:46 | 935087 Lincolns Mullet
Lincolns Mullet's picture

'High Quality Chinese Products'...you're talking about the lead-laced toys?  Or the lead-laced cups?  Or the plastic trinkets that fall apart, or the furniture with missing parts?  Or how about the cribs that kill and suffocate babies?

Fri, 02/04/2011 - 12:37 | 935035 Michael
Fri, 02/04/2011 - 10:06 | 934453 Cognitive Dissonance
Cognitive Dissonance's picture

9.0% unemployment rate.

That's all that will be reported with any intensity today and all weekend. Sure, if the reader gets past the second paragraph they might be told why. But in a ADHD world, who really gets past the second paragraph?

Fri, 02/04/2011 - 10:27 | 934542 aint no fortuna...
aint no fortunate son's picture

Yah, I'm surprised the MSM doesn't want to print THIS baby:

http://research.stlouisfed.org/fred2/series/EMRATIO

This is the chart Tyler thought we'd be puking on our shoes over.

Fri, 02/04/2011 - 10:33 | 934563 Dexter Morgan
Dexter Morgan's picture

Great chart.  Thanks for the link.

Fri, 02/04/2011 - 10:34 | 934568 uhb
uhb's picture

very interesting chart.

Fri, 02/04/2011 - 10:34 | 934571 snowball777
snowball777's picture

That should hit the lowest levels ever recorded around the summer of next year. Perfect.

Fri, 02/04/2011 - 10:41 | 934608 Commander Cody
Commander Cody's picture

From the chart, the civilian employment/population ratio (EMRATIO) of 55-58% was common from the late 40s to the late 70s.  Then, it gradually goes up to about 64.5% and has now trended down.  I take it that the upward trend is due to more women entering the workforce.  I take it that the downward trend is due to corporate amerika offshoring jobs.

Fri, 02/04/2011 - 12:12 | 934939 ColonelCooper
ColonelCooper's picture

Yes, but spin it to the upside.  Soon we will have gone back to the future of the 1950's where we will all sit on front porches drinking fresh squeezed lemonade while chatting across picket fences with neighbors out for an evening stoll, exercising off that home cooked supper.

What's the problem?

Fri, 02/04/2011 - 12:14 | 934946 ColonelCooper
ColonelCooper's picture

TRANSLATION:

We will sit outside the front of our houses with semi-automatic weapons telling the neighbors to, "Back the fuck away from the fence or I'll blow your freaking head off!", just trying to protect our last four cans of Spaghettios.

 

Fri, 02/04/2011 - 10:56 | 934670 BaboonAss
BaboonAss's picture

And here is the same chart (em-pop ratio %) non-seasonally adjusted  from 01/2001 to 01/2011:

http://www.flickr.com/photos/48099525@N00/5415468173/

 

Fri, 02/04/2011 - 13:12 | 935209 Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

Don't check the average number of hours worked either.  Its almost like the 90s bull market didn't come from improved productivity from IT investment but by more hours slogged by the proles.

Wheels have fallen off this bitch.

http://research.stlouisfed.org/fred2/series/USAAHWEP

Fri, 02/04/2011 - 10:29 | 934550 Ancona
Ancona's picture

The reason these numbers fly CD, is because we've become a sound-bite- nation. Nothing more. Folks get their five minute update from the 'newstainment' bobbleheads, then return to tehir cheeze puffs and Ice Road Truckers. People now live their lives vicariously through carachters on television, since they can no longer afford to have a real life.

Fri, 02/04/2011 - 10:51 | 934658 thedrickster
thedrickster's picture

"live their lives vicariously through characters on television, since they can no longer afford to have a real life."

Isn't that the truth Don Francisco. With the Internet as a literal matrix I think you are spot on. Keiser called the Farmville debt slavery thing two or three years ago and now what do you see at 7-11.....Facebook's FarmVille cash. So long as they can make enough virtual currency in FarmVille to eat at 7-11, their fantasy world can continue uninterrupted.

 

Fri, 02/04/2011 - 12:36 | 935034 sun tzu
sun tzu's picture

I think you need to worry more about the braindead cattle who watch MTV, E!, Spike etc. The ones who watch History Channel and Discovery are probably a little more intelligent. The worst are the idiotic fools who worship sports

Fri, 02/04/2011 - 10:38 | 934594 Oh regional Indian
Oh regional Indian's picture

About 1% of the global population? Maybe?
ORI

Fri, 02/04/2011 - 13:51 | 935380 WALLST8MY8BALL
WALLST8MY8BALL's picture

Looking for a job is another job Americans dont want to do

Fri, 02/04/2011 - 16:02 | 935424 Quixotic_Not
Quixotic_Not's picture

That's odd.  I don't hear much about this number in the MSM.  Thank God the Unemployment rate has plunged to 9.0%

The MSM media is mostly NYC based, so of course they cheer the continued economic rape, pillage and plunder of 'MeRiKa...

In war, truth is the first casualty.

They benefit directly from banksters & corporations that advertise on their networks; and they get to live in the decadent artificiality of Gotham, where the super-rich bourgeoisie grease the skids to keep the huddled masses in check and provide the isolated world in which lies and corruption thrive.

Of course We The Sheeple - Looking for someone/something to worship - just love these glitzy purveyors of misinformation and duplicity - Their sexy self-satisifed sounds bites keep Us grazing on pastures of ignorant bliss...

Do the patriots truly believe that Rupert Murdoch is there friend? ROFL

In addition, our  society has become utterly and hopelessly corrupt.  As a collective we now care more about how a matter is perceived or can be manipulated to look good, than whether there is any substance to it.  We eat up sound bites that are warm and fuzzy and disregard the reality of the situation. 

We dismiss the tough road that leads to real accomplishment and instead follow the easy road to short term happiness and emotional well being.

Absolutely everything is infected with this disease in the U.S.;  Education, finance, politics, media, faith, economics...

EVERYTHING

The Fraud St. Kleptocrats fully understand the status quo and have been engaging in info wars for decades (via their puppet MSM of course!):

Cue Steve LIESman...Cue the Teleprompter POTUS...Cue 'MeRiKan Idolz, ad infinitum

Fri, 02/04/2011 - 10:00 | 934428 SparkyvonBellagio
SparkyvonBellagio's picture

A perfect Head and Shoulders pattern. That's not getting any better and time soon.

 

Unless of course they just fabricate the #'s to turn this chart around.

 

 

Pathetic.

Fri, 02/04/2011 - 10:07 | 934458 TrihumpTheInsultDog
TrihumpTheInsultDog's picture

I don't get it. Everyone says don't believe the stats from the BLS.

Turn on a dime? Then worship BLS data?

Fri, 02/04/2011 - 12:11 | 934937 happybob007
happybob007's picture

I think that the reason these are considered more relevant is that while they are subject to sampling error, there isn't much in the way of modeling that goes into them -- which sets them apart from the unemployment rate pretty dramatically.

There's the added factor that these numbers reflect the rest of the economic reality that is readily visible to those who pay attention.  Whereas, the unemployment rate numbers are quite obviously ignoring things that actually matter.

Fri, 02/04/2011 - 10:01 | 934430 alien-IQ
alien-IQ's picture

I have, however, noticed a sizable increase in the amount of new faces cropping up in the female escort industry.

Are they considered "employed" or "independent contractors"

just curious.

Fri, 02/04/2011 - 10:08 | 934457 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

They are considered a pitiful desperate consequence of Genocide Ben's most crooked of crooked systems.

The only question is, will we pay with our lives before he pays with his because of the genocidal policy he pursues at his masters' wishes.

Fri, 02/04/2011 - 10:11 | 934477 pan-the-ist
pan-the-ist's picture

It's called 'getting real'.

These are the choices that most poor people  (the majority of people in the world) already face.  Welcome to reality.

Fri, 02/04/2011 - 10:10 | 934473 RingToneDeaf
RingToneDeaf's picture

What an observation!

I'll have to check this out.

Did you inquire about discounts?

Fri, 02/04/2011 - 10:30 | 934556 EscapeKey
EscapeKey's picture

A 24 year old girl did an AMA on reddit about exactly this - her having effectively been forced into this, given the economic situation.

Awful, awful, awful.

Fri, 02/04/2011 - 13:59 | 935422 SilverRhino
SilverRhino's picture

AMA?? Can you explain that?

Fri, 02/04/2011 - 14:02 | 935448 EscapeKey
EscapeKey's picture

AMA = "ask me anything".

Sorry, I'm not going to dig out the story while at work, considering the theme... :)

http://www.reddit.com/r/IAmA/

Somewhere in the history

Fri, 02/04/2011 - 14:00 | 935429 SilverRhino
SilverRhino's picture

AMA?? Can you explain that?

Fri, 02/04/2011 - 10:17 | 934502 Coming Down in ...
Coming Down in Powdery Sparks's picture

I check that indicator quite frequently myself.  There are TONS of new faces there.  Can't be a good sign.

 

Not good for me either - they don't know what they're doing.

Fri, 02/04/2011 - 11:43 | 934834 lincolnsteffens
lincolnsteffens's picture

I wonder if we would have been required to file 1099s for escort services? You know how wound out businessmen get and need an escort to drive them home after a tough day.

Fri, 02/04/2011 - 10:04 | 934441 Misean
Misean's picture

The wealth effect. People just don't need two income households anymore.

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