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NSA Underemployment (U-6) Jumps To 16.6%, Highest Since July, And Deteriorating Consistently Since Start Of QE2
The non-seasonally adjusted underemployment rate (U-6), probably the one metric that has the least possible amount of Department of Turh intervention, has come at 16.6%, a jump from 16.3% in November, and the highest since July 2010. It is also the third consecutive month of deterioration, roughly since QE2 started. There goes your economic recovery. But at least quantitative easing is boosting the wealth effect of all those employed (on Wall Street) and adding to the poverty effect of everyone else. In the meantime, can someone please switch the ABC confidence index with the ADP bullshit indicator in terms of data significance?
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More bread & circus.
ooh..chart going up..recovery is here...!
WTF? Am I taking crazy pills, or is DJIA really up 10 point?
Does NOTHING affect the market negatively, ever? Absolute lies.
It can't go down until there are bag holders.
So I can only logically conclude that shorts should be out of the market until such a time as there is a huge panic into stocks for whatever unknown reason.
DISCLAIMER: I am not a professional. :-)
Cooter
yes, most folks are so distracted they will never learn/know details like this.,.,..
so distracted? More like "too stupid".
Must tax the robots to have recovery for humans!
A couple of more months and even the Bureau of Laugh-out-loud Statistics (BLS) won't be able to cover it up anymore.
A nuclear "accident" in detroit for example would make the unemployment numbers go down.
Like the US governement said:
WE'LL USE ANY WEAPON IN OUR ARSENAL TO FIGHT THIS CRISIS!
Hmmm.. They can't blame an "accident" on crazy brown people that hate us for our freedoms..
Our friendly Belgian waffle misspoke. He meant to say "terrorist", not "accident".
The "intelligence" services along with any current administration's propaganda department can always find some brown, black, yellow or disenfranchised white person to fix blame upon. This is down to a science today.
That's just racist, there are also white coloured people down there:
http://blog.petaflop.de/wp-content/uploads/2006/10/roberto-blanco_weiss_albino_petaflop.gif
Yes they can!
It's all going according to plan.
Irrelevant since AAII is 55% bulls.
As was mentioned earlier using the mean particiption rate the UE rate would be 11.7%......if you were to use the peak around 2000 of 67.2% the UE rate would be 12.7%. These people just didn't disappear. They are somewhere......
These people just didn't disappear. They are somewhere......
They're in tha Department of Turh...
A guy on Bloomberg radio this week was pooh-poohing ADP again. I can't figure out whether Bloomie can be tusted.
Entertaining though, today in a single article we learned that
- Allen Stanford is addicted to prescription drugs he started taking after receiving a jailhouse beating
- ACA Capital may not have been complicit but rather the biggest patsy ever, as they are now suing Goldman
- Massachusetts’s highest court is poised to rule on whether foreclosures in the state should be undone because securitization-industry practices violate real-estate law governing how mortgages may be transferred. “This is the first time the securitization paradigm is squarely before a high court”.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ay4VUaZN8vcg
Do 'they' care about this?
Yeh the stats are all rigged and the immoral street knows it and just plays along. They all sicken me that why have become robots to the FED.
Michael Panzer on the ADP payroll shell game:
ADP's Strong December Jobs Report: Er, Not So Fasthttp://seekingalpha.com/article/245192-adp-s-strong-december-jobs-report-er-not-so-fast?source=hp_wc&wc_num=1
Watch da boyz leverage the 'slope of hope' and BTFD mentality of the suckers and let this puppy slide...
FCX just turned green.
If the GDX closes green today and marks a reversal, then Dow 13,000 is right around the corner.
Gold $1,650 = Dow 13,000
Booming global economy means higher gold prices.
That is the correct "Formula".
Gold $1,650 regardless where the DOW is. I like how you are starting to sneak that $1,650 figure in your posts now. Alf was always more right and more credible than you.
Why is Silver Wheaton down 20% in a few days ?
Leveraged play for Silver.
"Why is Silver Wheaton down 20% in a few days ?"
Thanks for that tip, just bought some.
Futures up. PDs will just ramp away
any bad news with more of Benron's
free money. Wanker will proclaim
his doily business is going great guns
and hiring.
Has anyone seen the breakdown between fulltime and partime/temporary employment with the release? Do we continue to lose fulltime jobs as well?
My read was that we continued to lose fulltime jobs. Increase in partime..
Wait until the States and municipalities start laying off people and really stop spending money. This will have a very large negative ripple effect. I wouldn't be surprised if we start to see social unrest in 2011. Just too much going the wrong way with increasing veocity.
I hope not, but think so.
Social unrest will only come after a period of "true discomfort" (ie pain). That has yet to occur in our county. When it does happen you have a very large police/military force (along with a media that will be used to support the "government") waiting to deal with the, hummmm, let see... what "label" will be attached to that group, perhaps "domestic terrorist"? It doesn't take a high IQ to see that they will use the clauses in the "patriot act" to "quell" the disturbances... and neutralize any effective threat to the "ruling elite".
In essence the "Ruling Banks" control the government, ie the military and police force and of course the media............ this will not end well.
Hang on Jethro were in for a hell of a ride.......
Exactly - and they have their finger on the trigger of when it goes down. It's called the Supplemental Nutrition Assistance Program and rest assured, riots would begin about 72 hours after shutting down those little debit cards.
Markets gapping up. Looks like Q3 is now a certainty.
As usual, BTFD until the Fed does something rash like end ZIRP.
And that will not happen in my lifetime I am fairly certain.
There will be no QE3 or any other sequel. TheBernank went all in with YOUR money. It's a losing hand and he ain't about to destroy the FED with more bluffing.
Get ready for the greatest depression you've ever heard of, not more QE.
Sure there will be. You can end up in a great depression via hyperinflation too, not just deflation.
we continue to lose EVERYTHING ! not just jobs ! we're losing everything & everyone !
good luck to the old people, good luck to the young people, good luck to those holding a pile of saved dollar bills in a bank account, good luck to those who bought a great big wonderful house at the top of the market because at the time that was seen as a good "store of wealth investment" ........ good luck good luck. when are Americans going to get it through their heads that they've been CONNED / SCAMMED / BEEN GIVEN THE SHAFT UP THE ASS !
Isn't the big problem what the NYT recently reported. That as people lose their jobs when they are able to reenter the labor force they are doing so at substantially lower rates of pay. Thus a 5% unemployment rate would not be an improvement over a 10% rate if average earnings decline 10%
That's *if* they re-enter the workforce. Otherwise they're the "long-term" unemployed.
Given the "damaged goods" rating automatically given to long-term unemployed, nothing short of legislation will get them back in.
From the Ministry of Truth comes glorious news of our brave and valiant soldiers of Amerikana in the war with terror. Over 670,000 terrorists were destroyed in the most recent battle. From the Ministry of Plenty, prices for food and energy continue to climb and inlfation production is set break all previous quotas. All hail the Bernank.
The private sector can start hiring anytime (full-time, non-temporary) if it feels like making that number lower. They can choose to be a part of the recovery, or hope they don't become a regulatory target once again.
That said, what was with that U-7 number that was dropped in the early 1990's?
sethstorm said, "[W]hat was with that U-7 number that was dropped in the early 1990's?"
quick link --
http://www.selectsmart.com/DISCUSS/read.php?16,696694,696694,quote=1
Just to show how out of touch the government elite are, they stopped accepting tax coupons in 2011. People were lined up at WestAmerica Bank, yelling on Wednesday, trying to pay taxes,but couldn't. Everyone will get fined for not paying on time, that tried to. The IRS now only accepts payment electronically through a Warren Buffet company. Nice arrangement. Warren makes money. The government issues extra fines. The tone deaf nature of the American government is increasing, and it's past the boiling point.
They are becoming their true self reguarding responsibility. Their response to everything is FUCK YOU WE'RE IN CHARGE BECAUSE WE'RE FUCKING VIOLENT.
looks to me its more like down from 17.0 to 16.7
http://www.bls.gov/news.release/empsit.t15.htm