The Real Unemployment Scandal?

Leo Kolivakis's picture

Via Pension Pulse.

Discussing the latest US jobs report, Greg Ip of The Economist comments on jobless agonistes:

had risen in the past week that America’s economic soft patch was
ending. They have just been doused with a bucket of cold water. The job
market showed further deterioration
in June from May, the government reported today. The number of
non-farm jobs rose a meager 18,000, lower even than May’s 25,000 number
(itself revised down from the original estimate). The two months
together mark a dramatic deceleration from the previous three when
payroll growth averaged 215,000 per month.


The unemployment rate,
meanwhile, rose for the fourth consecutive month to 9.2%, from 9.1% in
May. It was 8.8% in March. The economic recovery celebrated (if you
could call it that) its second anniversary on July 1st, and in that
time the unemployment rate has moved a lot while ending up almost
exactly where it began. America has made almost no progress closing the
output gap opened up by the recession. The
U-6 unemployment rate, which includes people who have given up looking
for jobs and part timers who want full time work, shot up to 16.2%
from 15.8% and the average duration of unemployment hit a new high of
39.9 weeks. More women than men lost jobs.
Indeed, since the recovery began, women have fared worse than men, a reversal of the pattern during the recession, as a new Pew study documents. Still, the male unemployment rate rose more last month than the female rate.


deeper, the details grow worse. Hourly wages failed to rise and the
average work week shrank slightly—bad news for income and thus
purchasing power. The survey of households, from which the unemployment
rate is drawn, shows a much bigger plunge in employment, at 445,000,
than the payroll survey. The household survey is less reliable but is
still a useful check. It tells us the payroll report is not understating
the strength of the job market.


There is no good news in this
report; in the category of "could have been worse," private sector job
growth was better than the overall total, at 57,000 last month. Public
employment fell, for the eighth consecutive month, led by more layoffs
by state and local governments.


The best explanation for the sharp
slowdown in the jobs market is the confluence of bad luck that hit the
economy this spring: a sharp increase in petrol prices, a series of
natural disasters, and the Japanese tsunami and earthquake that
interrupted supply chains in electronics, automobiles and other
industries. Most of these temporary restraints have begun to lift. The
weather is back to normal, petrol prices are down 10% (nearly 40 cents
per gallon) from their peak, and Japan’s disruptions are ending.
Automobile production schedules are ramping up and the Institute of
Supply Management found that factory activity improved from May to June.
Manufacturing employment rose last month, albeit by only 6,000. Even
Greece seems, yet again, to have muddled through its latest confidence
crisis (but keep your eyes on much bigger Italy).


In all
likelihood, the employment data will improve in coming months as
consumer purchasing power and business spirits recover from the fuel
price surge. Yet as we argue in an article
in this week’s issue of The Economist, there is more to the
disappointing trajectory of the recovery than these temporary
restraints. America has only just begun
to deleverage and a McKinsey study has found that comparable episodes
in history have been accompanied by anemic growth and often a return to
While America probably won’t fall back into
recession absent some new shock, its workers should get used to
stop-start growth punctuated with disappointments and soft patches.
Americans are not alone in this; Britain has experienced similar
disappointments and Spain’s outlook is even more anemic. Both share
America’s pre-existing condition of vastly overstretched household
balance sheets and the opportunistic infection of exploding government


While most of Europe is ahead of America in implementing
plans to arrest the rise in government debt as a share of GDP, America
is just beginning. In Washington, the mood surrounding negotiations
over an increase in the statutory debt limit took a turn for the better
this week as Republicans signaled flexibility on taxes and the
Democrats did likewise on entitlements. This may be good news
politically but it is ambiguous, and possibly bad, economically, if the
final deal front-loads, rather than back-loads, the pain. The steady
bleed of public sector jobs shows state and local government austerity
is already weighing heavily. Federal fiscal policy is scheduled to
tighten in January when a temporary investment tax credit and payroll
tax cut expire. Layering on more austerity would pummel an economy
still struggling to achieve a virtuous circle of jobs, income and
spending. Mr Obama is reportedly pushing to extend the payroll tax cut
for another year. That would be good, but that would not represent new
stimulus, merely a softening of the fiscal restraint already in train.


what about the Federal Reserve? Its second round of quantitative
easing (QE) was completed at the end of June. The consensus is that it
would have to see deflation looming to implement more. I think the bar
is lower than that. Ben Bernanke, the
Fed chairman, has always worried that rising unemployment could spark a
pernicious cycle of declining confidence and spending. If its recent
rise continues into the third quarter, expect to see Wall Street raise
the odds on QE3.
It’s too soon to write the recovery off, but not too soon for contingency planning.

say the odds of another QE3 were slim prior to the latest jobs report
and they now stand at 50-50. If employment growth doesn't pick up
significantly over the next few months, QE3 is a done deal, and Wall
Street will celebrate by bidding up risk assets.

The real
structural problem in the US labor market is that there are really two
economies since the early 80s: the financial economy made up of bankers,
traders and money managers on Wall Street and the real economy made of
manufacturers but mostly of small businesses. The latter are struggling
while the former keep enjoying record bonuses. Nothing is trickling
down, and even if it is, it's so minute that it doesn't make a
difference. Even cash rich corporations are in no hurry to hire because
they're producing more with less and they've got no confidence that this
is a sustainable recovery.

And as TomDispatch associate editor Andy Kroll
points out, for all the verbiage about jobs that will be coming your
way, there’s one part of the American jobs crisis deserving screaming
headlines that the politicians won’t be talking about, the 60-year unemployment scandal:

Live in Washington long enough and you'll hear someone mention "east of the river." That's
D.C.'s version of "the other side of the tracks," the place friends
warn against visiting late at night or on your own. It's home to
District Wards 7 and 8, neighborhoods with a long, rich history. Once
known as Uniontown, Anacostia was one of the District's first suburbs;
Frederick Douglass, nicknamed the "Sage of Anacostia," once lived there, as did the poet Ezra Pound and singer Marvin Gaye. Today the area's unemployment rate is officially nearly 20%. District-wide, it’s 9.8%, a figure that drops as low as 3.6% in the whiter, more affluent northwestern suburbs.


D.C.'s divide is America's writ large. Nationwide, the unemployment rate for black workers at 16.2% is almost double the 9.1% rate for the rest of the population. And it's twice the 8% white jobless rate.


size of those numbers can, in part, be chalked up to the current jobs
crisis in which black workers are being decimated. According to Duke
University public policy expert William Darity, that means blacks are
"the last to be hired in a good economy, and when there's a downturn,
they're the first to be released."


That may account for the
soaring numbers of unemployed African Americans, but not the yawning
chasm between the black and white employment rates, which is no
artifact of the present moment. It's a problem that spans generations,
goes remarkably unnoticed, and condemns millions of black Americans to a
life of scraping by. That unerring, unchanging gap between white and
black employment figures goes back at least 60 years. It should be a
scandal, but whether on Capitol Hill or in the media it gets remarkably
little attention. Ever.

Indeed, nobody wants
to talk about the shockingly high unemployment rate among black
Americans because they've been largely written off. I'll tell you about
another scandal that nobody talks about, the unemployment rate of
disabled persons which is closer to 85%, and that's being generous.

take the rights of disabled people very seriously partly because I have
MS and it makes me extremely angry at how prejudiced employers are
towards disabled persons. One trader recently sent me an email telling
me the following:

offense, but that MS will likely be the preventing factor to your
being hired (large orgs fear large disability expense, small orgs can
ill afford any absence) - I know two guys with health issues (a guy who
is a cancer survivor with diabetes, another had a liver transplant)
and group benefits/life-insurance are a factor in them staying in
sub-optimal they save/invest like fiends since they are
parents with abbreviated life/mortality expectations

I wasn't offended at all and told him he's right, most organizations --
private corporations, federally chartered banks and even government Crown
corporations and government departments -- will treat people with a
serious preexisting condition as a liability (one day, I will expose
these organizations and their discriminatory practices). This is why I
decided to teach myself to be completely self-sufficient, focusing on
trading stocks, consulting and business ventures where I control my own destiny. No more sucking up to
anyone for a job!
If you don't want to hire me because I have MS, that's your problem and I don't want to work for you!

my MS doesn't control me; I am feeling better than ever and will beat
this bloody disease because I'm the toughest SOB you'll ever meet. MS or no MS, I'll take on the world!
But that's not the case for many who are much worse off than I am and
can't fend for themselves. Many disabled are stuck collecting disability
insurance, living in poverty, all because they are ostracized
from a shallow society who only sees them as a liability. That's the
real unemployment scandal and anyone who thinks otherwise is an utter
fool who's never walked in their shoes and felt the stinging pain of
blatant discrimination.

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dcb's picture


I know you look at comments, and since I don't know how to PM you, I wanted to give you and all a heads up about an article in the NYtimes magazine section on sheila Bair. I must read for all, and I think it will resonate with you and what someone who disagrees with the "establishment" goes through.

Prometheus418's picture

Leo, you're a bitch.

Tell you what, you come to Wisconsin and bring your work boots, and I'll get you a job that has the equivilent local purchasing power of $150k/year in New York, MS or no.

But, there is a hook.  No whining.  I'll expect you to be able to perform calculus II equations while on your feet, and be willing to be cut and/or burned by flying chips of metal on a regular basis.  You'll have two hours to do twenty hours worth of work, and you'll work fifty hours a week.

If you can do that, I'll make sure you never see a hungry day- if you want to be "disabled," then you get what you get. 

gaoptimize's picture

Having read the argument above, I'm satisfied that the inevitable economic collapse will in the long run be for the best.  Things are so badly messed up that more time is spent assigning blame than trying to fix it.  Time to reset.

Reese Bobby's picture

Do not hate om my retarded bro Leo.  He may act ilike a lucid person but he has the mental capacity of an 8 year old....

AGuy's picture

"This is why I decided to teach myself to be completely self-sufficient"

Your on the right track. Fortunately I don't have a disablity, but that didn't stop me from pursuing self-sufficient. I quit my last employer in 1999, started my own business and never looked back. I make more money, and I no longer have to be dependant on an employer to bring home a paycheck. FWIW: Before I left my last employer, I had tried to warn them about the comming recession. It was easy to see that many companies were finishing up their W2K projects and spending would fall in early 2000. I had tried to get them to lower their rates, and offer expanded services to make up for falling sales. Instead they choose the opposite by raising rates and cutting back on services. It was a disaster for them, and the company barily avoided bankrupcy, but had laid off nearly 3/4 for the workforce.

Working for Employer offer zero guarentess. Better off going alone than be dependant on an employer that can make terrible decsions that results in layoff.

JMT's picture

Really....  How can the average person do this, you know just up & quit and of course finding another way of getting all those benefits only a large corp can provide -- full medical, dental & vision insurance?? 401K match??  I think the majority of people prefer a steady paycheck as well as the benefits I mentioned plus tax policy in the USA does not favor self employed people neither does the whole hiring 'process'

JMT's picture

so the UE rate for blacks is twice that of whites but we have a black or 'AA' to be politically correct as president.  So this article is advocating what exactly?? more bootlick or as I call it 'bootstrapping' which is just pandering in a patronizing way to 'minorities' so one doesn't appear to be racist..

Unfortunately incidents such as wilding in major cities, violent crimes in part of Boston MA (the parts of the city not on any tourist map) and general media scares have scared off employers from hiring many minorities (even though they can never ever ever make a job ad as being in any way discriminatory).

JMT's picture

so the UE rate for blacks is twice that of whites but we have a black or 'AA' to be politically correct as president.  So this article is advocating what exactly?? more bootlick or as I call it 'bootstrapping' which is just pandering in a patronizing way to 'minorities' so one doesn't appear to be racist..

Unfortunately incidents such as wilding in major cities, violent crimes in part of Boston MA (the parts of the city not on any tourist map) and general media scares have scared off employers from hiring many minorities (even though they can never ever ever make a job ad as being in any way discriminatory).

web bot's picture


I'm just going to level with you... you come across as a fucking idiot on this site.

You lost your job because of your big mouth and attitude, not because you were some messiah.

You are the laughing stock of Zero Hedge. I just smile when I see your postings because I know that I'm going to have a great laugh as I watch your tormentors in action. Look at the pile of nonsense you wrote in this article and how you snuck in MS and black people. This is cheap desperation trying to garner attention. How can anyone take you seriously???

You're problem is that you don't write... you rant. It would do you good if you took a course on blogging and writing. You could then stop personalizing your material and stop coming across as a victim and a self-serving pompous ass and start to write in an authoritative and credible fashion. People don't care about what you had for breakfast, people are interested in being influenced by sensible reasoning. There are some nuggets in what you write, however they become quickly lost. You should do yourself a favour and step away for a while, take the course... and come back with a different, impersonal style. Look at sensible writers on this site like Bruce Krasting and others.

Sometimes, one should listen to harsh criticism Leo.

I can tell you that at some point in time, either you are going to look for a job or people may consider investing with you and from the written trail you are leaving behind... you're in for a rude awakening Leo.

I wish you no ill will.



Leo Kolivakis's picture

web bot, I got to level with you, you've got no idea why I was fired. None whatsoever. When the time is right, the truth will all come out. You have no idea about anything and you are a coward. I have the guts to publish what I feel and to be honest, I don't need anyone's money. So, worry about yourself bud, I am going to continue writing what I feel like writing even if it annoys insignificant cowards like you.

Ned Zeppelin's picture

All I remember is Leo's call for inevitable 300K+ NFP jobs prints 2 years ago, and I said "bullshit - there is no driver for that."  Regrettably, I'm still right, and I will continue to be right for as far as the eye can see. And I'm truly sorry about that.  But that's what happens when national policy is enacted solely to benefit the super-rich.  

JMT's picture

Then tell me why stores are more crowded now than 2 years ago?? Apple sells out everything it produces?? Everyone is dressed head to toe in designer fashions & $200 sneakers?? Didn't know one could do all that on unemployment assistance & Food Stamps... 

you have to look at unadjusted Year to year numbers not this seasonally adjusted & seasonal adjusting ex. this & that Bullshit. Either you are employed or you are not. And unadjusted over 2 million more are employed at the end of Jun 2011 than June 2010.

FederalReserveBankofTerror's picture

Suffering is attachment to expectations. Breathe, hold space for acceptance, enjoyment and enthusiasm. That is all there is. All of "this" is a collage of plays. We are all the stars of our own plays and our roles within greater society. Our attachments to the story of "America" that we learned about in grade school compared to reality causes us to suffer. Accept it. Realize that nobody is interested in giving up their entitlements. Physics and mathematics will continue hollow out the Ponzi shell until it all comes tumbling down. The hopium addicted zombies will awaken and realize they need to get out of town and do what Candide did, cultivate your garden. Acceptance of the collapse to come and planning to thrive in the downturn is key. There are so many opportunities to excel when everyone else is attached to hoping things will get better. Load your lifeboat up with everything you need and casually lower it away from the Titanic while the masses are squabbling over entitlements and who should and should not be served dessert in the main dining-room. When you have planned to profit from the collapse and get out at the bottom, your future will be all about accumulation and making your wildest dreams come true. (I have Crohns disease and reinvented myself. I will never need to be employed by anyone ever).

zorba THE GREEK's picture

 Leo, I love you patriothi, but "things will be much better in 2012" Even Zorba with his optimistic

 view of the world, finds that very hard to believe. And as for malaka employers who don't hire

 people with so-called 'handicaps', they are the ones missing out. As an employer, I have found

 over the years that giving people, who other employers shun, a chance has been a positive for

 my business as they are eager to prove their worth. These employees have better attendance,

 better attitudes, are more productive with fewer complaints. They don't ask for charity, they 

 only want chance to prove their worth. The greatest handicap a person can have is prejudice.



sellstop's picture

Thanks Leo.


Hannibal's picture

Hm,...Living a life spent, paying (working) to live.

HungrySeagull's picture

Actually I think to wake up from a walking sleep and understanding just how useless my life has been with the missed oppertunities along the way.

The school teach you rules and you have the exceptions used by everyone in real life, those that have learned but not yet shared with you.


No matter. I intend to go out when it's time and not allowing Obama care to dictate when.

idoubtit's picture

This white, black, asian thing is a waste of time.  It's like asking whether you want to be gassed or shot.  QE3 is not 50/50.  Not even close.  Bernanke has realized the "making shit more expensive" theory of economic recovery doesn't work.  For the 90% of the population who doesn't give a shit about the Russell 2000, all quantitive easing does is cut down their disposable income.  Higher prices do not cause people to go out and spend more money.  Money in their pockets makes people go out to spend money.  People LIKE buying new shit.  But the country is broke.  And and other attempts at QE is just going to make everybody poorer.  90% of the country would love some deflation.  It's the 10% with all the assets that are terrified. 

snowball777's picture

I'm pretty sure 9.2% - 16.2% of the country disagree with your assessment of the positive benefits of deflation.

Broke because you have no job or broke because inflation has made everything too expensive is still broke.

papaswamp's picture

"This white, black, asian thing is a waste of time.  It's like asking whether you want to be gassed or shot.  QE3 is not 50/50.  Not even close".....

Gassed or shot results in death...from which one doesn't usually recover from. Being unemployed though can be cured (though maybe in this this point... it has a finality like which case you are correct).

HungrySeagull's picture

Life will result in Death.

I have been allowed to escape my own death several times and saved a few, but not everyone made it. Gotta move on ya know.


What do you think if Obama, Ben and Timmy decided to do with the Nation's default while sitting the lake in a boat. Obama would exhort Ben and Tim to get it done, Ben will drown while talking and Tim will swim to shore glad to have survived one more time.

papaswamp's picture


You would be fine if you brought up the disabled statistic, but hadn't mentioned you were disabled.

I have a very close friend who has Cystic-fibrosis...she should be dead at this point but lives life to the fullest ever single would have no idea she has it except the occasional cough. She works in some of the harshest environments and doesn't tell people she has it. Her job doesn't cover her medical expenses. She has never complained, nor looked for sympathy.

Though your attitude is correct...airing your laundry isn't. Write a book to be published posthumously, it will hold more water then.

I won't get into the biological/population/genetics aspects of disabilities since it will cause people to blow a gasket and scream I'm terrible....though maybe on on ZH it wouldn't happen. 


Here is the interesting ethnic statistics (look at Asian if I didn't make it obvious enough)...

All are not seasonally adjusted U-3 numbers for June (UE=Unemployment):

White UE...8.6% (largest % increase in UE tied with Black...but much larger number wise since whites comprise a larger part of the work force)

Black UE...16.5% (largest % increase tied with white) men decreased while black women increased in UE.

Asian UE....6.6% (the only demographic to decline in UE.)<----

Hispanic UE...11.5% (Smallest increase in UE)

Why has the Asian population unemployment numbers continued to improve and always much lower than all other ethnicities?

This is the question...



NOTaREALmerican's picture

Re:  Work ethic?


I'm suspecting it's because Asians are the superior race.


(Just poking the white racists.   It's obviously because the white's didn't have the same chance that the not-quite-whites did.  It couldn't have ANYTHING to do with the size of the white's brains or the FACT that white parents are obviously less motivated than Asian parents to see their kids get a good education and succeed; which is a "PROVEN" fact.)

papaswamp's picture's the work ethic instilled by the Tiger moms. They are on their kids asses constantly. The destruction of the family is the single greatest disaster to any society. When the parents don't care...collapse follows.

NOTaREALmerican's picture

Re:'s the work ethic instilled by the Tiger moms.


There's too damn many lazy white people in the country that don't know how to bring up their kids because they are too stupid to turn off the TV and make their kids take piano lesson.   How many white kids you know that take piano lessons,  NONE.   They all take drama or some lame sport that is a total waste of time and useless for their future success (but it's the only thing their tiny brains can comprehend).   Those people are ruining this country.   

HungrySeagull's picture

I tell secret. Drama is all the University can stand to have taught within the walls of knowledge. Many a Hall leads to a dead end.

But to actually teach useful things in life? They won't. I should know, I am a college drop out, partly due to the accumulating debt. I got what I wanted out of it and bailed. Enough.

NOTaREALmerican's picture

Good article.

We've had 50+ years of crony-capitalism in the US.  What percentage of jobs "created" of the last 50 years were a direct or indirect result of the centrally planned Big-Mic, Big-Road, Big-Water, Big-House, Big-FIRE, and (now) the Big-PoliceState crony-capitalist scams?   Probably allot.

There's no way all these useless jobs are going to be reabsorbed into a "new economy".   Unless the government creates more useless work for people - by expanding the existing BigS listed above, or creating some new ones - there's nothing left for people to do.   All human work can be performed cheaper overseas.


Time for everybody to look in the mirror and ask what their above average kid is going to do for work when trying to compete with a Chinese or Indian kid (who's parent thinks is above average too).  

RockyRacoon's picture

...and in the mean time (and I do mean "mean") the do-nothings in Washington run around with their hair on fire.  Opposed to many, I hope the gov't does absolutely nothing, as in nada, zilch, zippo.   Stirring an already boiling pot will just piss off the frogs.

NOTaREALmerican's picture

What do you want them to do?   Mericans have been voting (R)etard and (D)umbass for 50+ years now, with the ONLY requirement asked of the politicians is to get them (the voters) more free-stuff from the government.    When there's no limits for 50+ years because EVERYBODY - government, corporations, and people - have been borrowing unlimited amounts of money it's kinda unreasonable to expect people (or politicians) to adjust to a NEW reality that suddenly has limits on what can be spent. 

RockyRacoon's picture

I thought my thought that they do NOTHING was quite clear.

The less they do the faster this merry-go-round goes off its axis.

The sooner the better.

bob_dabolina's picture

No one gives a shit about the blacks? 


We have a black fucking president. We have affirmative action. WE HAVE A CONGRESSIONAL BLACK CAUCAUS. We have Black Entertainment TV. We have blacks getting preferential at Mcdonalds jobs (don't marginalize those jobs, they are important stepping stones for many people) Have you seen basketball teams? Football teams ALL BLACK. I could go on and on and on and on. WHAT THE FUCK ELSE DO YOU WANT TO DO? Everything is given to them. 

It is a fact that IN GENERAL blacks are i.lazy, ii. not as intelligent, iii. not as ambitious, iv. overly agressive, v. lack impulse control. Look anywhere in the world, I don't give a shit where, you will find anywhere there are large populations of blacks there is rampant crime, disease, and poverty. The reason for this is because of i-v, not because whites are holding them down. That shit doesn't fly anymore with a black president, although he's leading the welfare nation. How ironic. Have you realize the more blacks this country gets the worse it becomes? Trend, what?

Open your fucking eyes.

Leo Kolivakis's picture

"Open your fucking eyes."

They are wide open and I see lots of  racist, redneck morons like you!!!!!!

bob_dabolina's picture

Isn't calling me a redneck a bit racist, you racist? 

You're just like a typical black guy. Get's really offended by the word nigger and will cry and sue you if you say it but has no problem running around calling people faggots. I bet Kobe Bryant would be real cool if a white ref called him a nigger right? Do you have any idea what kind of lawsuits would rain down? That mans life would be ruined.


Kobe Bryant Calls Ref A "Fucking Fag" On Camera (Video) 

He get's millions of dollars a year to behave like that? No white man could get away with that, because blacks get treated special.


edotabin's picture

Isn't calling me a redneck a bit racist, you racist?

And I was told to get popcorn and watch the economic collapse. This is much more entertaining!

zeusman's picture

Jeez Bob.. You have all the signs of someone with serious penis envy. Whats the matter, did a girl leave you for a big dicked black man? Your rants make you sound like someone who thinks the world is holding them down.. Try a penis pump

bob_dabolina's picture

This was the worst comment in ZH history before the last worst comment. I have an idea to help you out.  

1. Find a pool 

2. Swim to the bottom of it

3. Drown yourself.

Remove yourself from the gene pool so humanity can continue forward. Thanks.


HellFish's picture

As much as it saddens me to say it you are pretty much right.

BigJim's picture

Hat tip: multiple exclamation marks do not make sentences more credible.

akak's picture

Attaching the name 'leo kolivakis" to sentences only makes them much less credible yet.

Dirtt's picture

How does one reconcile "No more sucking up to anyone for a job!" with "one day, I will expose these organizations and their discriminatory practices."  I too have taken the former to heart.  And it comes with a price I'm willing to pay.  So if you are going to pay that price then what would preclude you from exposing said organizations. ANd I really don't blame those organizations.  I blame government and a lack of tort reform.  THEY are the CULPRITS.






















AmCockerSpaniel's picture

"Automobile production schedules are ramping up"??

I have been reading that new cars are backing up on the dealers lots (GM's for sure).

HungrySeagull's picture

And the endless trains rolling through several times a day, some of which are nothing but auto parts and vehicles.

Joebloinvestor's picture

Who the fuck would want to start a business or expand one with all the un certainty, plus the fact that you are gonna get screwed and demonized if you are sucessful in spite of all the shit the government throws in your way?

Even Wall Street is laying off and do you see anyone using any of those millions in bonuses to save anyones job?

I believe one cannot defeat Darwin even in economics, just delay the inevitable.


NOTaREALmerican's picture

Re: I believe one cannot defeat Darwin even in economics, just delay the inevitable.


The purpose of a functional Representative Democracy IS to defeat Darwin.   Otherwise, the sociopaths (aka human predators) will control all the power of the society.   (Which is basically what you've got now).  


If you want to "defeat Darwin" you've got to keep the power away from the sociopaths.    Notice that none of the ISM's - socialism, capitalism, liberarianism - can deal with what happens when the end-game is reached and the few - but VERY VERY VERY smart and savy humans (the sociopaths) -  have control of everything.  



sethstorm's picture

Uncertainty is an excuse that has passed its expiration date. That excuse might have flown in 2008 and early 2009.  

You aren't going to get screwed for your success, unless you are acting like you're supposed to be untouchable.  But if you want to play right into the hands of the government by forcing failure instead of choosing success, don't be surprised if you're considered "part of the problem" and not "part of the solution".  

The best way to frustrate this government is to succeed and hire when they do everything to make sure you don't.



dwdollar's picture

Right...  and what successful business have you managed to start in this mess?  Really do tell, I'm looking for ideas.

AmCockerSpaniel's picture

"those millions in bonuses"

Me thinks it's billions in bonuses.