The ever increasing unemployed are buying Kindles to read all about their predicament.
Tyler Durden - Founder
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on Fri, 11/06/2009 - 08:42
#122051
Do these people count? REAL AMERICANS always have jobs.
on Fri, 11/06/2009 - 09:50
#122169
82.5 percent of working Americans are employed.
I don't see a problem here....
on Fri, 11/06/2009 - 10:52
#122253
You must be employed and own a house. Good luck.
on Fri, 11/06/2009 - 16:38
#122830
??? Did you have a point to make???????
on Fri, 11/06/2009 - 08:48
#122062
Time to buy. CNBC will be sure to point out the lagging nature of jobs.
on Fri, 11/06/2009 - 09:06
#122095
Mark Haynes is all over it
on Fri, 11/06/2009 - 08:49
#122063
If we extrapolate the trend it will be 100% by 2012.
on Fri, 11/06/2009 - 09:17
#122118
2012....will it really matter then?
on Fri, 11/06/2009 - 08:51
#122070
As long as the bank of obama keeps extending unemployment benefits, who gives a shit? Nobody is working, but everyone is still getting paid.
on Fri, 11/06/2009 - 08:54
#122075
dewd, those unemployment bennies amount to taxi fare in nyc.
on Fri, 11/06/2009 - 09:18
#122120
Yea thebone that $3-400 bones a week is going to make Americans into American'ts. With all that gov't cheese after buying a ferrari and a new rolex they might even be able to buy some food for their kids.
Dope.
on Fri, 11/06/2009 - 08:52
#122072
According to CNBC this is a positive! Yep, 1 in 5 Americans un or under employed, having too much debt and not enough cash to pay the basics is always great. If you want an armed revolt...
Here's a clue: it's about job creation (not gov't make work nonsense, but real job creation). How about tax credits for hiring or letting "rich" folks keep more money and let it "trickle down." F^*&* healthcare.
on Fri, 11/06/2009 - 09:33
#122146
Exactly. The only thing wrong with this nation is oppressive tax rates on the uber wealthy. And all this talk of regulation! I am only for regulation if it does not apply to the rich and connected. The wealthy create jobs! In other words, we will die of starvation if high income earners pay logical tax rates! That is why we must genuflect before them -- and fellate them!
on Fri, 11/06/2009 - 13:32
#122529
Is that you Lloyd and Jamie? Or is it your male secretaries?
I would think you guys were busy with all the looting...
Only the anonymous knows for sure...
on Fri, 11/06/2009 - 08:57
#122077
Change You Can Believe In
And in other news Hermes is expecting a strong Christmas after a 4.2% increase in sales (fx adjusted) in q3.
Looks like the bankers bonuses are going to be spent buying their wives and girlfriends (likely both) new Birkins for Christmas.
If memory serves in March the White House expected unemployment to peak @ 8.3%. Wasn't stimulus 1.0 going to prevent @ 10% print? Perhaps stimulus 2.0 will prevent @ 15% print?
on Fri, 11/06/2009 - 09:02
#122085
As W said, this dancing does not have a clue. So, let's forgive him.
on Fri, 11/06/2009 - 09:04
#122089
Correction:
As W said, this dancing cat does not have a clue. So let's forgive him.
on Fri, 11/06/2009 - 09:30
#122141
As I say, this Dog's dancing up a storm!!!
http://www.liveleak.com/view?i=650_1257390788
on Fri, 11/06/2009 - 09:46
#122161
Paul (I've never had a real job) Krugman is whining for Stimulus II - what a shocker.
http://www.nytimes.com/2009/11/06/opinion/06krugman.html?hp
'And more is needed. Yes, the economy grew fairly fast in the third quarter — but not fast enough to make significant progress on jobs. And there’s little reason to expect things to look better going forward. The stimulus has already had its maximum effect on growth.'
on Fri, 11/06/2009 - 10:50
#122252
"The stimulus has already had its maximum effect on growth."
Well, if we are going to be seeing diminishing returns going forward, that means we should cancel "Stimulus I," right? Right?
What's really laughable about Krug's analysis is the "growth" was almost entirely due to Cash 4 Clunkers and the First-Time Sucker's, er, Homebuyer's Credit which has helped to artificially keep home prices high. None of the other spending has had a lick of difference on GDP because the states have been using it to cover up their budget shortfalls.
Obama's team is also talking about the possibility of a second stimulus, even though they won't call it that to avoid getting blasted for incompetence. Campaign slogan in 2008: "Hope and Change!" Slogan in 2012: "We'll Get It Right the Second Time, We Promise!"
on Fri, 11/06/2009 - 08:57
#122079
As a couple of my unemployed (and couldn't give them a job if you tried) tenents said to me...."Alll rightttt!!! Gonna get me some more of that Obama money !!!"
As long as you keep the bottom feeders happy, and they are growing in number, things will get progressively worse for all those who have a job and are fighting to survive.
on Fri, 11/06/2009 - 09:18
#122119
so how would things look if those 15.7 Million bottom feeders had zero cash flow? A whole lot better, right? You have got to be kidding me.
on Fri, 11/06/2009 - 09:36
#122149
Not to mention those who feed on the bottom feeders (did I miss some intentional irony in your post?), working their poor fingers to the bone on things of real value, e.g., stock trading.
Good to hear that GS isn't alone in exploiting opportunity . . . God Bless America.
Yo, dawg, you may be underestimating those loser tenants, though--try offering them a job posting for you. You might be pleasantly surprised!
You're right: You shouldn't have to do all the hard work.
on Fri, 11/06/2009 - 09:55
#122181
Intentional irony? Nope.
An abundance of ASSumptions on your part? Yes.
on Fri, 11/06/2009 - 10:24
#122219
You'll be returning at least a portion of the illicit rent money to the Treasury, then?
Peace Out (gotta work now.)
on Fri, 11/06/2009 - 11:18
#122280
Spade434 nails it. No one is even checking on whether the unemployed are looking for jobs anymore (that used to be a prerequisite for continued $$ assistance from Uncle Sam). There is an abundance of folks who would be unemployed regardless of the job outlook…this is turning into de facto welfare and perhaps the best way to stem it is by turning off the faucet. Money (and its absence) is a great motivator.
on Fri, 11/06/2009 - 11:47
#122326
I have been unemployed for 11 months, and so far my records of my job search have been asked for one time. SO, auditing layed off folks records is probably done randomly. If you do get a letter asking you to show up with your proof, ya better have it. If ya don't, you will have to pay back all the money you have received so far, and will get no more.
Anyways, I am starting a job at Tinker AFB on 11/16. So looks like my unemployed days are over. 8>)
on Fri, 11/06/2009 - 12:10
#122361
Am I missing something fundamental in this argument, which seems to hold that more people looking for jobs would create more jobs--regardless of whether we call the alternative welfare or "job benefits"?
Sure, the prospect of starvation would push many into action, but just what would this do for employment? Or is the unstated supposition that the population needs to be culled of slackers and losers?
on Fri, 11/06/2009 - 16:42
#122835
"No one is even checking on whether the unemployed are looking for jobs anymore "
Sam, how do you know this?
Nice hair by the way.
on Fri, 11/06/2009 - 09:00
#122081
No worries, people don't count, jobs don't matter... this is a casino run by GS and they will push the market up to end higher on the day... they will use it to lure more shorts in to get burned again
on Fri, 11/06/2009 - 09:02
#122084
request for 2nd stimulus is on its way.
on Fri, 11/06/2009 - 09:19
#122123
Correction: DEMAND for 2nd stimulus is on its way.
The same people that elected this frootloop will be sticking their hand out once again...asking to pay their rent, their heating bills and for their abortions.
on Fri, 11/06/2009 - 10:21
#122216
Well, dang. We all got new Golf Carts. WE NEED NEW CLUBS...NOW.
on Fri, 11/06/2009 - 12:48
#122427
haha, I guess that's what they mean by Aggregate Demand. The Aggregate of folks without free money Demand it from the government.
on Fri, 11/06/2009 - 09:03
#122086
Hmm, now I wonder how the stress test is faring with these numbers?
But that won't matter when they squeeze the new shorts
on Fri, 11/06/2009 - 09:04
#122088
Futures back in the green! Up we go!
on Fri, 11/06/2009 - 09:09
#122098
Those unemployed all become day traders.
on Fri, 11/06/2009 - 09:06
#122093
$500/week is a little more than a nyc cab fare. Not exactly rolling in the dough, but its enough to subside people for 18-24 months if you have a little cash on the side. I know people who have been unemployed for 18 months and haven't even gotten off the couch to start looking. Why work when you can get paid to do nothing and still get by.....Not my philosophy, but just saying...
on Fri, 11/06/2009 - 09:37
#122150
you're a complete stupid shit....and you're too
stupid for me to even explain your stupid ass
analysis...
on Fri, 11/06/2009 - 11:25
#122286
So it's safe to assume you're unemployed?
on Fri, 11/06/2009 - 16:44
#122837
122150, tell us what is really bothering you?
Or is it something with your meds?
on Fri, 11/06/2009 - 09:08
#122097
17.5% real unemployment, being paid by government thank God, since that keeps the rabble off the streets ... but nobody mentions the additional 10% of the population that's in jail ... so we're effetively paying to keep almost 30% off the streets, figuratively and literally.
Oh yeah, this is sustainable.
on Fri, 11/06/2009 - 09:13
#122108
1+
on Fri, 11/06/2009 - 09:23
#122132
10% in jail? No. Do you need to borrow my google for a few minutes maybe?
on Fri, 11/06/2009 - 09:10
#122103
When you add the 10% of the population in jail to the 17.5% getting unemployment, we're paying to keep almost 30% of the people off the streets and in front of television sets. Sustainable economics, this...
on Fri, 11/06/2009 - 20:41
#123138
You forget to count the senior citizen on social security paycheck.
on Fri, 11/06/2009 - 09:12
#122106
Ritholz on why the markets will be going up on bad news...
http://www.ritholtz.com/blog/2009/11/non-farm-payroll-preview/
on Fri, 11/06/2009 - 10:11
#122199
TBTF = Welfare
People on Welfare have a time limit, and then they have to get off of it. What is the time limit for corporations on welfare?
on Fri, 11/06/2009 - 09:13
#122109
I think this will bring on the waterfall
on Fri, 11/06/2009 - 09:15
#122114
no chance, PPT just gave GS the green light and lots of free money to gun it higher
on Fri, 11/06/2009 - 09:16
#122117
John Williams Calculations.
http://www.shadowstats.com/alternate_data
on Fri, 11/06/2009 - 16:46
#122843
20% to 22% would be my guess
on Fri, 11/06/2009 - 09:19
#122122
The unemployed here in Wisconsin are using their $330.00 a week check to buy call options on GS.
on Fri, 11/06/2009 - 09:21
#122129
Isn't this what the bank stress tests feared?
on Fri, 11/06/2009 - 09:22
#122131
for (Iterator banksters=collection.iterator(); banksters.hasNext(); ) {
Object bankster = banksters.next();
bankster.action( action.gotoJail );
}
Bernanke.action( action.gotoJail );
Geithner.action( action.gotoJail );
Paulson.action( action.gotoJail );
Bush.action( action.gotoJail );
...
on Fri, 11/06/2009 - 09:31
#122144
Uh mostly humans use this site. Typical of a programmer to program something of no use and then be proud of the efficiency of the code.
You could just say "Send Bernanke, Geithner, Paulson and Bush to jail." and you would have saved on having to code at all and would more effectively communicated your point.
Also, those people aren't all really "banksters" or "bankers".
on Fri, 11/06/2009 - 09:39
#122152
go fuck yourself bitch
on Fri, 11/06/2009 - 11:45
#122322
I liked it. New language. No longer Javascript... now Obamascript.
The old english major sondog needs to settle a bit.
on Fri, 11/06/2009 - 12:53
#122444
I'm a programmer, I get it. True enough that sondog overreacted, but there is a good point and lesson in all of this: Programmers and business people mean different things when they say efficient. Perhaps now it's less of a mystery why entrepreneurs who invent things make bad CEO's much of the time... (Maybe the failure to realize this and act on it is why 85% of new small businesses fail!)
on Fri, 11/06/2009 - 13:59
#122590
Oh I program too (not sure I'd call myself a programmer as it's only about 1/3 of my job but I digress...) and I was just bustin his balls while I waited for the market to open and rejoice in all the good news.
Give me a break. I'm short financials for the last 2 months or so.
on Fri, 11/06/2009 - 16:48
#122845
I don't think sondog over reacted at all. I sure do think 122152 did though.
on Fri, 11/06/2009 - 09:25
#122134
Now just imagine how bad the numbers would be if Obama hadn't saved all those jobs!
on Fri, 11/06/2009 - 09:27
#122137
Someone let Kudlow that Goldilocks is looking for a job. Perhaps they'll be an opening for her soon at Comcast in that 7pm slot.
on Fri, 11/06/2009 - 09:30
#122143
I tuned into Kudlow for a few minutes, last night. The first words out of his mouth were, "I've been bullish all year!"
Does this man have any self-awareness? He's been bullish all year, EVERY YEAR!
on Fri, 11/06/2009 - 09:28
#122138
U-6 @17.5%
S&P PE @ 140+ Thanks to the man behind the curtain.
The Squid paying record bonuses.
Green shoots abound.
How does it get any better than this???
It's a great day to be a sheep. baaaa baaaa
on Fri, 11/06/2009 - 16:50
#122847
Lamb chops for all this holiday season!
on Fri, 11/06/2009 - 09:30
#122142
V shape recovery anyone?
V as in Very long that is?
on Fri, 11/06/2009 - 09:39
#122153
Apples to apples to how we measured unemployment in the late 70s, early 90s we are now in mid teens, about 14.2%.
http://www.fundmymutualfund.com/2009/11/official-unemployment-rate-hits-...
Why the stock market is not surging on all these "costs" being washed away is beyond me. This only means higher profits and easy money for as long as the eye can see. Also more stimuli!
Celebrate people. the Asians do our work, and we get to shop. What's not to love?
on Fri, 11/06/2009 - 09:41
#122155
lol
"lagging" but keeps going up and getting worse....
on Fri, 11/06/2009 - 09:41
#122156
Look at this mkt rip back up, up 1% in 7 minutes. Up 150 pts today
on Fri, 11/06/2009 - 09:44
#122158
Who needs a job?
Just get a Fannie Mae mortgage, stop paying on it, and you can live rent free for the next year.
At the end of the year, go get another Fannie Mae mortgage and start the process all over again.
Work is so passe.
on Fri, 11/06/2009 - 09:45
#122159
Who needs a job?
Just get a Fannie Mae mortgage, stop paying on it, and you can live rent free for the next year.
At the end of the year, go get another Fannie Mae mortgage and start the process all over again.
Work is so passe.
on Fri, 11/06/2009 - 09:46
#122162
market's just tracking GE tick-for-tick .... genius.
on Fri, 11/06/2009 - 09:52
#122171
Announcement just out... the world is ending in 5 days... Dow soars 20,000 points on the news
on Fri, 11/06/2009 - 09:53
#122174
Continuing to make the right shoulder of a H&S top on the SPX.
on Fri, 11/06/2009 - 19:48
#123101
Looking at it too. Undid my shorts one day late and lost most of the gain since the H... So rigged I wonder why I lose time betting. Expect the right shoulder to be higher though, cause of the ongoing printing... That's where the inflation is already showing. Bubble-inflation?!
on Fri, 11/06/2009 - 09:55
#122179
Hmmmm, what kind of rationalization will the media provide if the market ends the day green?
"The market rose today on the expectation that a worse-than-anticipated jobs report will spur lawmakers to pass a second stimulus bill."
on Fri, 11/06/2009 - 09:57
#122186
the madness of crowds
on Fri, 11/06/2009 - 09:59
#122190
It was a good number. The previous two revisions make this a relatively good number. I expect the market to close up on the day.
on Fri, 11/06/2009 - 10:09
#122198
Please expand on "relatively good number"? Not bashing, would truly like to know...
on Fri, 11/06/2009 - 10:39
#122234
Anon,
August and September were revised up by a combined 90K which takes a lot of the bite out of the 209K number. The net number "beats" Street estimates.
on Fri, 11/06/2009 - 14:44
#122651
Gotta love the birth death model jobs.
on Fri, 11/06/2009 - 10:18
#122206
All I want is a head and shoulders for Christmas lol!
http://highfrequency.tumblr.com/
Oh there's a treat for Elisha Cuthbert fans too, scroll down and check out the high frequency vremix. Hot as Hell.
on Fri, 11/06/2009 - 10:18
#122211
With a fifth of the population out of work I am sure the economy can recover in an extremely quick fashion, after all it isn't as if they are the ones with all the money is it? The banksters will do all the spending with their fat bonuses. Just think how lucky we are to have them sort things out for us
on Fri, 11/06/2009 - 10:20
#122214
Here are some interesting facts. The three things .gov can do to create stimulis are: food stamps (1.73), extending unemplyment benefits (1.64) and infrastructure (1.59). The three that have the most negative returns: accelerated depreciation (.27), permanent income tax cuts (.29) and a corporate tax cut (.30). Hell, a paroll tax goliday creates 1.29!
Keep trading suckers...
Milton Friedman's Ghost
on Fri, 11/06/2009 - 10:29
#122225
Dow and S&P both in the green. Today is the apex of moronia.
on Fri, 11/06/2009 - 10:41
#122236
Don't laugh when you read some of these economists take on the U #'s.
Here is my favorite:
http://blogs.wsj.com/economics/2009/11/06/economists-react-conflicting-s...
on Fri, 11/06/2009 - 10:56
#122258
We can either spend trillions (1) on banks or (2) on temporary jobs to put people back to work, as FDR did. Choice (1) has lead to banks throwing their money into the casino. Sooner or later we'll end up on #2, but how many people will be fucked over in the meantime?
on Fri, 11/06/2009 - 11:14
#122275
A whole lot, I suspect. Slackers not looking for work is being blamed by the brilliantly ignorant for the lack of jobs and the "eliminate the minimum wage and entitlements" crowd is out in full force to focus our attention on what really matters.
on Fri, 11/06/2009 - 11:14
#122276
A whole lot, I suspect. Slackers not looking for work is being blamed by the brilliantly ignorant for the lack of jobs and the "eliminate the minimum wage and entitlements" crowd is out in full force to focus our attention on what really matters.
on Fri, 11/06/2009 - 12:17
#122376
Screw v; I dub this the y shaped recovery. We're 3/4 up the right side of the y so far.
on Fri, 11/06/2009 - 14:31
#122636
How about the X shaped recovery, showing the divergence of the stock market from the real economy?
on Fri, 11/06/2009 - 14:11
#122615
I've been a ZH reader for a while now, and I've got no skin in the investment game but I like keeping an eye on this sort of news. Here's an angle that might include a decent portion of the population that also might skew that unemployment number once again.
I was laid off in January 2009 from a marketing company (that targets commercial real estate, dumbly I knew my days were numbered the day I started but didn't actively look for another job while I was there). I looked for a professional job from Jan 2009 - June 2009 with no success. After June I decided to call it quits on that and decided to use my GI Bill benefits and return to college (I already hold one Bachelor's). I've continued to look for part-time employment with no luck as of yet, but I'm getting by (barely) on the GI Bill. My point in mentioning this, is that Veteran's Affairs was so hammered by the huge increase of GI Bill benefit claims, it took them nearly 3 months to start paying anyone. Do full time students count as unemployed? I don't think so. I'm at the University of Missouri and the number of returning veterans is so massive they've had to hire up 2 more liaisons just to answer their questions.
on Fri, 11/06/2009 - 20:47
#123141
Sir, without any disrespect, there is a eduction bubble as you described.