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Real Unemployment Rate Hits 16.8%

Tyler Durden's picture





 

As markets digest the worse, yet somehow better, than expected 9.7% unemployment, the real state of the labor market is much worse, as indicated by the U-6 number, which has hit a recent record of 16.8% on a seasonally adjusted basis. As a reminder, the "U-6 represents total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers." In other words, in reality the U.S. labor market is likely about as bad as Spain in terms of undoctored jobless data.

And while pundits were touting the inflection point in June when U-6 hit 16.5% and started to retrace, the most recent monthly data has crashed yet another green shoot in the great propaganda game.

Source: BLS

 


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Fri, 09/04/2009 - 09:26 | Link to Comment RobotTrader
RobotTrader's picture

Normal, orderly markets???

Heh, looks like the Robots are misfiring today........

Fri, 09/04/2009 - 09:31 | Link to Comment Anonymous
Fri, 09/04/2009 - 09:43 | Link to Comment . . .
. . .'s picture

 

Big bank robots don't do random.  They use free financing from Bernie to make money by skimming off the day traders (like silly valley did in the 1990s and the 1960s) and generally moving prices to inflict max pain on the short-term punters.

Fri, 09/04/2009 - 10:02 | Link to Comment BobPaulson
BobPaulson's picture

Graphics don't fit on smaller screens. But the three stooges are great!

Fri, 09/04/2009 - 09:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

In reality, the 16.8% is low. Shadowstats.com pulls out all the gerrymandering done to the underlying methods of measurement over the years to produce a real number somewhere around (and most likely now north of) 20%.

They also produce corrected numbers for inflation and so on that will make you head spin. Take a look if you can.

Fri, 09/04/2009 - 09:48 | Link to Comment . . .
. . .'s picture

Do people trust shadowstats?  I looked at one of Williams' statistical charts a while back, and it looked as if he was tacking a linear delta onto the relevant statistic.  Which is pretty unlikely to be accurate, except occassionally by chance.

Fri, 09/04/2009 - 10:00 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

John Williams, the man behind shadowstats.com, is more than willing to send you his raw data. Plus a lot of it is already on the web site.

Granted you must be a subscriber to receive some of this but that doesn't invalidate what he's doing. I spent a long weekend looking over his methods and data a few months ago and I feel comfortable with his conclusions. It passes the smell test as well, meaning it supports what we see, feel and experience on a daily basis.

Why is it people can easily see the manipulation in the markets by private and public entities but not recognize that the government would also manipulate the economic statistics so much of it's economic policies (and other publicly admitted manipulation) relies on?

Fri, 09/04/2009 - 10:05 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:51 | Link to Comment They steal from...
They steal from us everyday's picture

We have laid off exactly 600,000 workers a month for approaching a solid year at this point.

 

WHY WOULD THE CHART NOT LOOK LINEAR?

Fri, 09/04/2009 - 10:12 | Link to Comment gmrpeabody
gmrpeabody's picture

Suffice it to say shadowstats is a LOT closer to the truth than government stats.

Fri, 09/04/2009 - 11:53 | Link to Comment glenlloyd
glenlloyd's picture

Williams has no vested interest in fudging anything, so I trust his results far more than a govt sponsored entity. In fact that would be the only way to produce credible results in my book, take the reporting entity and control of the methodology away from those who have a vested interest in misreporting.

Fri, 09/04/2009 - 11:23 | Link to Comment John Self
John Self's picture

... and the stress tests were predicated on maximum unemployment of what?  Just north of 10%, if I recall. 

Fri, 09/04/2009 - 11:55 | Link to Comment glenlloyd
glenlloyd's picture

I thought the extreme case was unemployment of 9%? I remember reading at the time that the unemployment rate had already exceeded the worst case scenario by the time they released the stress test results.

Fri, 09/04/2009 - 12:12 | Link to Comment John Self
John Self's picture

Either way... kinda like NASA sending you on a ferris wheel to prepare for G-force.

Fri, 09/04/2009 - 09:28 | Link to Comment debauch
debauch's picture

Not suprisingly, one in nine Americans are getting foodstamps: http://www.reuters.com/article/domesticNews/idUSTRE5825OT20090903?feedTy...

Fri, 09/04/2009 - 10:04 | Link to Comment BobPaulson
BobPaulson's picture

Only because not all the ones that need them can get them. Probably one in six need em.

Fri, 09/04/2009 - 10:07 | Link to Comment AnonymousMonetarist
AnonymousMonetarist's picture

In total one out of six are on the dole.

 

Fri, 09/04/2009 - 11:51 | Link to Comment glenlloyd
glenlloyd's picture

woman living in the house behind me got food stamps for years although she was perfectly capable of working but had grown up on the system and learned that if she stayed there everything would be comfortable. Of course we have people on food stamps who don't need to be, it's because people will learn to work the system.

Fri, 09/04/2009 - 09:32 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

1933 all over again

Fri, 09/04/2009 - 09:35 | Link to Comment Anonymous
Fri, 09/04/2009 - 09:44 | Link to Comment dza
dza's picture

And she's about 12 years old.

Fri, 09/04/2009 - 10:20 | Link to Comment Marley
Marley's picture

I can't wait until the young detractors strip while they proclaim the economy has recovered.

Fri, 09/04/2009 - 09:55 | Link to Comment Miles Kendig
Miles Kendig's picture

And housing is on the upswing since it is not dependent on employment.... ROFLMAO

Fri, 09/04/2009 - 09:57 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

HAHAHAHAHAHAHAHA; current post of the day

Fri, 09/04/2009 - 14:15 | Link to Comment Sqworl
Sqworl's picture

Im so sick and tired of this bs.  Employment is at 18% counting gov jimmy numbers, *U6, U3. 

You cannot have a recovery without employment.  unless its PFM.  There are millions of perfect storm couples from 40 - 60 who have lost their jobs at the same time and have fallen off the employment chart.  They have sold what little assets they have and are living off 401K.  Basic necessities only.

Were basically Fucked!!!  Thank you Greenspan, Clinton and Obama...you too Bush.  You could have stopped those greedy politicians. i.e. Rains who collected $200M from Fannie.

Dick Grasso collected $190M from a not for profit by stacking the board with those he regulated...brilliant.

Fri, 09/04/2009 - 09:59 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:06 | Link to Comment blackebitda
blackebitda's picture

imo it may ba 5 X worse. 

not 1933, try 1929 the first micro drop. people are way too short sighted. 

even if dow moves up to 14,000 again it may not change the ultimate destination. 

after 70 years of price advance, a relative correction is natural. 

....its about the beauty of the trade, not the money. waiting and then 

reacting....strength and honor

 

Fri, 09/04/2009 - 10:13 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

the dollar will move to 14 000 iff DXY is somewhere in the 12-13 range. no scratch that; IT WILL move to 14 000 no matter what; and the drop which will happen when it does; will mark the end of civilisation ( not a joke )

Fri, 09/04/2009 - 09:36 | Link to Comment Mos
Mos's picture

118k mystery jobs added by the B/D model, can I add mystery dollars to my bank account?

Fri, 09/04/2009 - 09:56 | Link to Comment Miles Kendig
Miles Kendig's picture

Only if you own the bank

Fri, 09/04/2009 - 10:19 | Link to Comment MinnesotaNice
MinnesotaNice's picture

lol

Fri, 09/04/2009 - 11:37 | Link to Comment glenlloyd
glenlloyd's picture

Just wait till after the markets close today, you'll prolly be able to buy one, or two. My bet is four closures today..we'll see.

Once you own it just add funny money to make it good.

Fri, 09/04/2009 - 14:17 | Link to Comment Sqworl
Sqworl's picture

LOL..The best way to rob a bank is to own it!

Fri, 09/04/2009 - 09:41 | Link to Comment Verbal Kint
Verbal Kint's picture

it's all good! NFP change from prev month +60k. less bad = fantastic.

Fri, 09/04/2009 - 09:46 | Link to Comment Anonymous
Fri, 09/04/2009 - 09:47 | Link to Comment chinaguy
chinaguy's picture

More jobs were lost in August than in July.

From the BLS web site: the birth/death model bumped up the August jobless figure by a healthy 54%...118K jobs. Actual jobs lost was 334K

So, this figure is actually WORSE than July's official job loss figure of 247K plus 32K B/D model = 279K

 Is it any wonder that the overall unemployment rate increased?

Fri, 09/04/2009 - 10:08 | Link to Comment chinaguy
chinaguy's picture

More jobs were actually lost in August than in July.

From the BLS web site: the birth/death model bumped up the August jobless figure by a healthy 54%...118K jobs. Actual jobs lost was 334K

So, this figure is actually WORSE than July's official job loss figure of 247K plus 32K B/D model = 279K

Is it any wonder that the overall unemployment rate increased?

Opps, they just revised July's numbers down 49K. Still, @ 328K (for July's revised) August's numbers were worse.

 

Fri, 09/04/2009 - 09:48 | Link to Comment lizzy36
lizzy36's picture

Christine Romer is such a rolly, polly happy person.

I have massive distrust of happy people.

Why the heck can't someone in CNBC ask her about the mysterious b/d model additions.  And then note that in the absence of those phantom additions the number would be worse have been closer to -330,000 (worse than expected).

Fri, 09/04/2009 - 09:59 | Link to Comment lizzy36
lizzy36's picture

Well as long as the administration is going to get a massive fail on healthcare, they have to go with a full court press on the economy.

Mid terms are a coming.....

 

Fri, 09/04/2009 - 09:53 | Link to Comment . . .
. . .'s picture

Romer tries to be as much of a happy salesman as Art Laffer, Laura Tyson, and Peter Wallison.  They are all way slicker than her though.  Of course, even they pale behind the true master, Robert Rubin.  Even today, he is amazingly slick.

Fri, 09/04/2009 - 10:08 | Link to Comment Miles Kendig
Miles Kendig's picture

"And we are cautiously optimistic.."

Sounds like the need to translate is in order. 

Success - Is proclaimed in the most glowing terms. 

Marginal success - Is described as a situation that is well in hand. 

Total and abject failure - Is described as a situation where success can still be achieved.

Fri, 09/04/2009 - 10:03 | Link to Comment lizzy36
lizzy36's picture

Andy, the bridesmaid was a much, much better visual. I may not shop in that aisle but i have a keen appreciation of aesthetics. 

Fri, 09/04/2009 - 13:59 | Link to Comment lizzy36
lizzy36's picture

ahhh, the slutty blond.

Merci, kind andy.

Fri, 09/04/2009 - 15:08 | Link to Comment lizzy36
lizzy36's picture

well, the slutty blond is a classic amongst the boys (who will look at that picture and think "how long will it take to undo all those fricking bows").

from what i hear the slutty blonds are easily pleased :)!

 

Fri, 09/04/2009 - 15:31 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

IME; slutty blonds are usually not slutty at all, but a magnificent and very very smart women. but that's just my experience; i find myself lucky :D

Fri, 09/04/2009 - 16:27 | Link to Comment lizzy36
lizzy36's picture

alas andy, few freckles.

Fri, 09/04/2009 - 15:55 | Link to Comment lizzy36
lizzy36's picture

CB, i will take your very learned opinion on this matter. As a red head i have no personal knowledge on this issue :)

Fri, 09/04/2009 - 10:09 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

that man/woman suffers from an extreme case of aesthetic deficiency

Fri, 09/04/2009 - 10:15 | Link to Comment Takingbets
Takingbets's picture

You do know that some of us here on the west coast eat our breakfast while reading ZH. That picture does not help the appetite. It does the complete opposite. Lol!!!!

Fri, 09/04/2009 - 10:49 | Link to Comment Takingbets
Takingbets's picture

Thanks! Now thats something you could sink your T into!

Fri, 09/04/2009 - 10:27 | Link to Comment MinnesotaNice
MinnesotaNice's picture

Arggghhh... did you have to insert that picture... I got the same feeling as when Kathy Lee Gifford pops up in Robo's postings... I think a the Romer picture should be a 3 point ding on your license to insert pictures on ZH  :-)

Fri, 09/04/2009 - 11:25 | Link to Comment John Self
John Self's picture

Oh, it's a payoff all right.

Fri, 09/04/2009 - 11:43 | Link to Comment pooplagrande
pooplagrande's picture

Okay...can someone provide more info on this "woman"? She freaks me out every time I see her...everything is so cheery and rosey and smiley. I keep thinking she is going to pull an apple pie out of a hat.

Fri, 09/04/2009 - 11:58 | Link to Comment Problem Is
Problem Is's picture

If Summers is Moe, Geithner is Larry and Bernanke is Curly... then Romer is Shemp.

Fri, 09/04/2009 - 13:01 | Link to Comment TumblingDice
TumblingDice's picture

I can't see anything behind those eyes.

Fri, 09/04/2009 - 14:18 | Link to Comment Sqworl
Sqworl's picture

look at the size of this Cow, she ate whole stimulas...

Fri, 09/04/2009 - 14:27 | Link to Comment MinnesotaNice
MinnesotaNice's picture

ROTFLMAOWTIME... oh my gosh Squworl... I am usually really kind and tolerant of everyone's differences (and you of all people know that)... but that was really pretty funny... 

Fri, 09/04/2009 - 14:33 | Link to Comment Sqworl
Sqworl's picture

The only difference here is that it takes 9,000 calories of protien to maintain that body.  I consume 1,100.  do the math, how much money does it take to feed the cow?  Its no different that having an obese Surgeon General...

It's friday and im in one of my somber moods with all this constant bs coming at me from all angles.  This is where I come to unload and make you laugh..x

Fri, 09/04/2009 - 10:16 | Link to Comment Steak
Steak's picture

I'm from GA, the land of the side-hustle.  On top of that I have some very enterprising friends who have started and folded businesses before as part of this whole side-hustle culture.  Nobody I know even in the most peripheral sense has started a new business or hired anybody new in the past 6 months or longer.  Well actually I take that back, I know some people in Cali who are getting into the legal marijuana trade, but thats the extent of it :-) 

So yeah, I concur wholeheartedly that this whole b/d charade is quite the load of bull. 

Fri, 09/04/2009 - 11:38 | Link to Comment nopat
nopat's picture

As a fellow Ramblin' Wreck and current ATLien, I concur.  If new-immigrant entrepreneurialism is any indication of economic health, it's been dead for about a year and a half.  Fortunate for us they aren't in the statistic anyway, or else we'd really be screwed!  Oh wait...

The only thing keeping the lights on in Atlanta right now is the fact that we're hubs for a lot of companies that staff some pretty stout folks, and even that's starting to errode.  All the GMAT and GRE shelves at B&N/Borders are suspiciously empty.

Fri, 09/04/2009 - 10:32 | Link to Comment thegreatsatan
thegreatsatan's picture

because no one at CNBC is willing to ask any tough questions of any Obama admin mouthpiece. really, what do you expect from the TMZ of "business news"

Fri, 09/04/2009 - 10:36 | Link to Comment Anonymous
Fri, 09/04/2009 - 11:32 | Link to Comment Anonymous
Fri, 09/04/2009 - 09:50 | Link to Comment Anonymous
Fri, 09/04/2009 - 09:54 | Link to Comment ShankyS
ShankyS's picture

That 16% number is also the number of US citizens that have a brain. Except that percentage is falling. 

Fri, 09/04/2009 - 09:54 | Link to Comment che
che's picture

household survey 392k jobs lost
b/d model 112k jobs fudged
49k jobs downard revision for the last 2 months
workweek hours flat (these will have to go up way before employment improves)

wages are up according to the release, but that reflects 11% minimum wage hike in July
teenage unemployment 25.5%
very poor

Fri, 09/04/2009 - 09:57 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:00 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

We let another employee go last week. We have now futuresized the company by 40%.

Fri, 09/04/2009 - 10:00 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:06 | Link to Comment KeyserSöze
KeyserSöze's picture

 Here is a nice chart...facts are a bitch (once again)

http://www.trivisonno.com/withholding-taxes-chart

 

 

Fri, 09/04/2009 - 10:23 | Link to Comment Ivanovich
Ivanovich's picture

An old boss of mine once said "don't confuse the issue with facts."  It's likely he was speaking about the market.

Fri, 09/04/2009 - 10:34 | Link to Comment KeyserSöze
KeyserSöze's picture

That must have been cool to work at the White House...

Fri, 09/04/2009 - 10:03 | Link to Comment mtremus
mtremus's picture

This U6 number will hit 25% in the not to distant future and stay there for a very long time.

Fri, 09/04/2009 - 10:05 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:41 | Link to Comment asdf
asdf's picture

LOL

 

"We believe that the market has missed the simple fact that the unraveling of the Spanish market is structural and likely to far outlast the current macro-economic crisis," said Bienenstock.

Fri, 09/04/2009 - 10:07 | Link to Comment Daedal
Daedal's picture

T-i-i-i-i-me is on our side, yes it is.

Look, anyone who has taken history class in high school 'learned' about the Great Depression, and how Hoover (who was incorrectly defined as a free-market capitalist) was always quoted as saying that "The worst is over".

 

The exact same absurdities are propagated from the mouth of Dennis Kneale to the door step of the White house. It'll take a few more years for people to realize the truth. Don't forget, many people were in denial about their tech stocks, just like many people are in denial about their house values -- give it a few more years of unemployment numbers that refuse to contract, and that's when most people will see more clearly.

Fri, 09/04/2009 - 10:14 | Link to Comment mtremus
mtremus's picture

Exactly.  Nasdaq peaked at 5000 9 years ago.  Where is it today.

Fri, 09/04/2009 - 10:15 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:17 | Link to Comment SWRichmond
SWRichmond's picture

Is something going on with Deutsche Bank?

Fri, 09/04/2009 - 10:20 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

SW; why ?

Fri, 09/04/2009 - 10:46 | Link to Comment SWRichmond
SWRichmond's picture

rumors (?), no substantiation; a German-speaking poster on another forum has cut-and-pasted concerns from an unknown German forum, no links, I can't confirm.  I thought I'd poke the assembly here and see if anything was known.

Fri, 09/04/2009 - 10:53 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

i did the same thing with Banco Santander yesterday and got a nice feedback from Steak and PM; and someone mentioned that ING might go down. They also provided me with some link and data to verify my concern. But; lets speculate; we know Austrian banks are exposed to Eastern Europe; and most of the leverage came from German banks. It would not surprise me one bit if DB was in trouble. If you find out anything else; please post; I'm browsing trough some Spanish financial  forums in search for information concerning Banco; but haven't found nothing worth posting here.

Fri, 09/04/2009 - 11:36 | Link to Comment Miles Kendig
Miles Kendig's picture

CB - I would like to get your read on a stab at this one. 

Is there a potential disruption in what I refer to as the great circle route of liquidity washing.  After all, many of the institutions that have been swirling in the mill are all players in this.  If I had a better understanding in deciphering open source data I would look at potential impingements coming from Russia (regardless of the Monaco flash for appearances), the rest of CCE as you suggest (with Sweden now at a negative rate, redirection?), potentially the Latin American narco flows (now that the US & Colombia have a pact in hand) and with the collapse in side flows from Africa.  Are there issues emerging with China's inability to maintain PSI on these lines, especially with the talk of China looking to re-no some of their commodity swaps?

I cannot but help thinking that somewhere along this 4-6 trillion pipeline there are issues developing.  Hence the ripple effects as the disrupted flow hits various "pumping stations".  Anyone with an understanding of flow & vibration harmonics in large liquid pipeline engineering considerations please chime in.

Fri, 09/04/2009 - 14:26 | Link to Comment Sqworl
Sqworl's picture

News from Monaco friends...Russians no longer allowed to buy.  They inflated everything and  can no longer pay their bills.  Dubai is bust and no longer subsidizing.  It's a ghost town except for residents and tourist and even that has dropped off.

Cannes is experiencing sever downturn in festivals and conferences which has been the butter to the baguette.  Its global.. 

Fri, 09/04/2009 - 10:45 | Link to Comment thegreatsatan
thegreatsatan's picture

Didn't you get the memo, its "Funemployment" not unemployement.

Fri, 09/04/2009 - 12:58 | Link to Comment TumblingDice
TumblingDice's picture

HA! That's rich. And a very useful trend IMO, although I am sure I am yet to fully grasp the implications.

Next thing you know the funempoyed are going to abandon the monetary system altogether. *crosses fingers*

Fri, 09/04/2009 - 10:48 | Link to Comment FoolMeTwice
FoolMeTwice's picture

I am sick of reading *extreme* arguments. Maybe the employments numbers are fudged, so the other extreme has to be true!

The truth lies somewhere in between. What defines civilian labor force? Households moving from two income to single income will result in high unemployment number.

What I am intersted in is the %age of household unemployed. In 1930s mainly the men worked. One person loses job and whole household lost the bread earner. So to what extent that is happening now? I wanna know that number.

Fri, 09/04/2009 - 11:45 | Link to Comment ghostfaceinvestah
ghostfaceinvestah's picture

When households depend on both incomes to maintain their lifestyle, does it much matter?

Fri, 09/04/2009 - 10:54 | Link to Comment Anonymous
Fri, 09/04/2009 - 10:55 | Link to Comment Anonymous
Fri, 09/04/2009 - 11:52 | Link to Comment Anonymous
Fri, 09/04/2009 - 11:55 | Link to Comment Problem Is
Problem Is's picture

Nice picture... Geithner on the left, Summmers on the right, Brenanke in the middle.

As for marginally attached by U3:

1.If you run out of unemployment benefits, you are marginally attached. You are no longer counted as unemployed by U3.

Are you any less unemployed?

2. If you are unemployed and there are no jobs in your occupation to apply for in your area, you are marginally attached and therefore not unemployed by U3.

Examples: Construction workers. In imploded bubble markets there is virtually no construction work. But construction workers often travel out of area or out of state looking for work. By this definition they are not unemployed by U3.

These questions are asked in the 60k monthly survey done by BLS as a factor in determining U3.

Are they any less unemployed?

We won't even get into the highly flawed birth/death ratio model that adds jobs from the small business market that supposedly were missed by other methods of BLS data. Bush used it to add a record 1.7 million phantom jobs to the 2007 totals. Obama is on pace to top that in 2009. In a typical month any where from 90k to 1.3 million job losses are subtracted from the totals because of supposed job creation in small businesses that could not be found in any hard data...

Like all of the above methods, what a great way to under report job losses or over report job creation for political gain...

Why doesn't the BLS use IRS payroll data streaming in monthly? Hard data? A good, often asked question by statisticians that goes unanswered...

The American public is so math deficient they could not understand a graph, statistic or ratio if you hit them in the head with it.

Fri, 09/04/2009 - 11:57 | Link to Comment Anonymous
Fri, 09/04/2009 - 12:55 | Link to Comment TumblingDice
TumblingDice's picture

At the bar, people sometimes want to know about this "financial thing" and i indulge them. The first thing I point out is that all the statistics put out by the government are false. That one taes a while to fully sink in, because when they ask for the actual unemployment and I give them the 15% and now 16.8 U-6 figure they shake theire heads in wonderment.

"You can't just make shit up like that. That's way overboard."

"But if you count all the actually unemployed, including those who are no longer receiving unemployment enfits, then thats the number you end up with."

They go on to throw out a number in the 12% range to account for this becuase all of a sudden they're experts and then a light bulb blinks in their head that you have to measure unemplyment the same way you did during the Great Depression or else all this U-6 bullshit is just fearmongering. I mention Bill clinton's rule change on reporting and the conversation starts in earnest here. Next subject: mark to market and that gets people very very angry.

Fri, 09/04/2009 - 16:20 | Link to Comment dot_bust
dot_bust's picture

I lost my job  in January when my employer did mass layoffs. Ever since then, I've been freelancing. Thank God I went nuts last year teaching myself CSS and Flash. Otherwise, I'd be shit out of luck. But, I'll tell you  one thing, the employment ads are crazy. They ask for a veritable laundry list of skills. My favorite is the one where they ask for CSS, JavaScript, XHTML, Flash, PHP, MySQL, 3DS Max, After Effects, SEO, and copywriting. What else? Why don't I stick the broom up my ass and sweep the floor?

Oh, and I forgot to mention, they were offering $30k - $40k.

Fri, 09/04/2009 - 18:12 | Link to Comment Sqworl
Sqworl's picture

Unfortunately my friend, desperation sets in and people will work for minimum wage to feed their families.  I know several Ivy lawyers and bankers including seasoned professionals working as waiters in Major cities across the nation.

According to the architecture that is to frame the change of our once great nation.  They want it to collapse and seize it and socialise it.

They are well aware of how horrific unemployment and will only work to make it worse.  Look at our stock markets???

Fri, 09/04/2009 - 20:54 | Link to Comment SWRichmond
SWRichmond's picture

According to the architecture that is to frame the change of our once great nation.  They want it to collapse and seize it and socialise it.

They are well aware of how horrific unemployment and will only work to make it worse.

Yes.  Their actions drag out the pain, by preventing the cleansing wave of resets (defaults).  They are hoping desperation will bring people clamoring for a cultish government saviour, and are helping their biggest patrons use stolen taxpayer money to consolidate their empires.

Fri, 09/04/2009 - 22:21 | Link to Comment Anonymous
Fri, 09/04/2009 - 22:49 | Link to Comment Anonymous
Sat, 09/05/2009 - 10:00 | Link to Comment Anonymous
Thu, 02/24/2011 - 01:26 | Link to Comment shawnlee
shawnlee's picture

Big bank robots don't do random. They use free financing from Bernie to make money by skimming off the day traders (like silly valley did in the 1990s and the 1960s) and generally moving prices to inflict max pain on the short-term punters.

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Fri, 04/08/2011 - 01:26 | Link to Comment shawnlee
shawnlee's picture

this administration is going to lie until we are all marching in the streets..........jobless recovery they all say with a big smile.............but they are losing their jobs too, just like our industry when there were only about 100 closed companies, the employed on the site were vicious that is until THEY WERE GONE TOO.642-611 - 117-101 - 117-102 - 70-293 - 000-151 - 1z0-451

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