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Rise In The Critical "Jobs Neither Saved Nor Created" Figures
You know... it's hard not to just beat on this graphic. But then, you should feel no sympathy for the authors, who had no business printing this horseshit in the first place. The October update:
Much as we love this chart, and the creators thereof, we think an alternative presentation is far more intuitive and gets to the core of the matter much more directly (the mind tends to impose gravity incorrectly on the old version):
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Jobs in Purgatory.
Marla - can we advance order a ZH T-Shirt ?
Your version of the graph on the front with "GOT RECOVERY?" prominently displayed, or maybe superimposed.
The alternative view is better, remember a chart with a rising line has a different psychological impact on the viewer versus a falling chart.
just sayin
HAAAA HAAAA Whew! Good one!!
the above might give someone a bad idea of implementing yet another recovery plan. Wait, given the recent continuation of new home tax breaks & F/F house defaults moratorium/rental paradise, they already did get the idea.
Not only "they" get new recovery ideas, but apparently public inputs and awareness are not required anymore. SO much for the government transparency... yeah WE CAN !!!
+1. Enough BS already. We got some really serious crap to deal with. Stop pretending and spinning the gullibale.
+1
someone needs to put the kibbosh on paul krugman's cult of personality.
the grey market is growing...
Or, perhpas, the market is getting greyer.
How bout dem green shoots!
Ladies and Gentlemen, Mr Tom Waits!
I fell into the ocean
When you became my wife
I risked it all aganist the sea
To have a better life
Marie you're the wild blue sky
And men do foolish things
You turn kings into beggars
And beggars into kings
Pretend that you owe me nothing
And all the world is green
We can bring back the old days again
And all the world is green
5 years from now: ... 65% the school age children stated that when they grow up they want to be a "foolocrat" - work for the govenrment to make a difference aka create a change...
The current crop will be known as "fooloshit".
Marla you have to stop this, you're embarassing His Majesty. Please report for re-education immediately.
http://www.youtube.com/watch?v=sMkEJ0qi1yM
I love you Marla... just what I needed for a good friday laugh... that second derivative of unemployment looks absolutely exponential right now...
Anyone here can lend me some blue pills for the weekend?
Take 2 Pink Floyd and call me in the morning.
We love you Marla. Beat on that chart whenever you feel like it.
http://www.jsonline.com/news/wisconsin/69254347.html
Even our local bird cage liner can read through the administration's HOPEIUM job saving/creating magic slight of hand trick.
Facts are irritating things to those who would like you to believe in something.
From looking at that graphic, it looks to me like either (1) the June-Sept #s were bullshit understatements, or (2) we fell off another cliff in the last month.
If (1) then I see a happy curve that looks to be leveling off; if (2) I see future anarchy.
So I'd expect to hear the Gov't claiming #1 soon to make the graph look less scary. Expect revisements of June-Sept unemployment #s to round out the curve in 3... 2... 1...
It is getting that predictable isn't it... they really painted themselves into a corner on that one... revisions to the rescue... green shoots ahoy!!
if you think of it, the easiest way for government to be able to dictate its will to people while being able to avoid the court battles is to have the control over the credit. If you decide who gets a loan and who does not, whoever needs the loan most likely will OBEY and shut up.
How else could we explain the elimination of competition within the finance industry?
Well, it's ether the above or stupidity. Given the ability of the "top" to ride the public opinion waves and avoid wide spread criticism, the stupidity is not the best explanation to the above why...
Nothing like using the government's own data against it.
Presto! Hopey Changey!! Ohhhh Crap! Why is that graph still around?
(Sarcasm)
Looking at the market today, I can just imagine how much higher things would have closed if we'd lost twice the number of jobs!
No shit, well said. Surely the computers will get tired of trading each other? Maybe not, they gunned it this morning but no sheep walked the walk... wonder how bad it will be the day that GS and others decide to take profit and play the downside. They have to sell someday for sure.
I love your brain even more than your voice.
Thank you for bringing that chart out again.
We usually don't frame our comments in this manner. Here's the but... But, is Obama, Summers, Ben and Timmy, and cohorts all -- this fucking nuts? We're so tired of this nonsense. 14.7% of all homes are VACANT. According to U6, and U3, roughly 20% of our entire popluation is UN-employed. And, the best these MORONS can do, is create shit-ass self-serving charts, con people, spin stories, cornduct news conferences, and LIE to the American public. Where's the outrage CD asked? It's manifesting. The system needs to implode in order to cleanse it from all this bullshit. OK... I'll go to church and ask Father McMonicle for foregiveness. Nuff said, right Tyler.
Liquor and ammunition: the perfect commodities. They're a store of value, tradeable, consumeable, and expendible. Why horde anything else?
thank you for putting into words what i am unable to do at this point in time.
the only word that i can come up with is "surrealistic" and I honestly think that I have been living in a lsd flashback.
nicely said AR.
This had to have been posted before right? Great stuff.
http://blogs.wsj.com/washwire/2009/11/02/in-the-battle-for-stimulus-jobs...
Louise Radnofsky reports on how the stimulus money is being spent.
How did Kentucky shoe store owner Buddy Moore save nine jobs with just $889.60 in federal stimulus money? He didn’t, and that’s turning into a big headache for him.
Moore’s store in Campbellsville, Ky., filed one of 156,614 reports from recipients of stimulus dollars designed to show how money from the $787 billion program is being spent, and how many jobs the funds have created or saved.
Moore’s slice of the stimulus came in an $889.60 order from the Army Corps of Engineers for nine pairs of work boots for a stimulus project.
Moore says he’s been supplying the Corps with boots for at least two decades. This year, because he provided safety shoes for work funded by the stimulus package, he said he got a call from the Corps telling him he had to fill out a report for Recovery.gov detailing how he’d used the $889.60, and how many jobs it had helped him to create or save. He later got another call, asking him if he’d finished the report.
“The paperwork was unreal,” said Moore, who added that he tried to figure out how to file the forms online, then gave up and asked his daughter to help.
Paula Moore-Kirby, 42 years old, had less trouble with the Web site, but couldn’t work out how to answer the question about how many jobs her father had created or saved. She couldn’t leave it blank, either, she said. After several calls to a helpline for recipients she came away with the impression that she would hear back if there was a problem with her response, and have a chance to correct it. So with 15 minutes to go before the reporting deadline, she sent in her answer: nine jobs, because her father helped nine members of the Corps to work.
“You could fill out the form in 10 minutes, but we were trying to fill out the form correctly,” she said, guessing that she spent up to eight hours on it in total.
That was a few weeks ago. The only thing the Moores heard after that was that because they’d received less than $25,000 in stimulus money, they shouldn’t have reported in the first place.
Today, three days after the reports were made public, local television stations and national newspapers including The Wall Street Journal started telephoning Moore, because his nine jobs for $889.60 in stimulus money makes him look like one of the most effective spenders in the country.
Kirby-Moore says she then got a call from her dad, asking her, ‘Paula, I thought you knew what you were doing… What did you put in that form?”
“I thought it was the right answer,” she said. “It is sad that creating nine jobs should get so much attention… If anybody’s looking for instant fame, I guess we’ve found the way.”
“The question, I would like to know is: How do you answer that? Did we create zero? Is it creating a job because they have boots and go out and work for the Corps? I would be really curious to hear how somebody does create a job. The formula is out there for anyone to create, and it’s just so difficult,” she said.
Republicans have criticized the Obama administration’s claims – based on forms like the one filed by Kirby-Moore — that the stimulus has created or saved 640,000 jobs. What counts, they say, are the number of Americans without jobs and the rising unemployment rate.
Nobody answered the phone at the U.S. Army Corps of Engineers in Louisville, Ky., this evening.
UPDATE: A spokeswoman for the Army Corps of Engineers in Louisville said that the stimulus reporting requirements were cumbersome, but important, and that the Corps had contracts ranging up to millions of dollars in the region. “It’s painstaking; it’s very, very detailed record keeping,” said Carol Labashosky. “We’re certainly up to the task, but if we inadvertently caused him some consternation, we apologize.”
Funny how the UE chart and the risk asset chart are following the same trajectory...perhaps the esteemed leaders should spend some time deciphering some f*cking charts to learn how frightenly unsustainable this whole thing is. 4 dudes chugging redbull and ping ponging AIG, C, FRE &FNM does not a market make. And if the banks can't look sideways without worrying about their tier one capital ratios perhaps its time to question their solvency...oh, but we did those nifty stress tests. Too bad they were built to sustain a 1.0 after shock and we are about to have a 9.0 earthquake.
May these charts live with policy makers for years....
...As thy charts lest fucketh thine selves in 2012.
http://www.movieposter.com/posters/archive/main/42/MPW-21254