• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Unemployment During the Great Depression Has Been Overstated and Current Unemployment Understated (We've Now Got Depression-Level Unemployment)

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Fri, 06/03/2011 - 19:48 | 1338028 AssFire
AssFire's picture

Things are going great in the Republic of Texas... I wonder why all these damn businesses keep moving here?? It's like they know it is coming to an end and they want to be here.

I am so thankful LBJ lit the entitlement fuse that will ultimately blow up the nation that stole our liberty when it forced its citizens at gun point to kill our citizens. 

We have industries and people who don't mind working hard; you guys get the entitled unions and gov. workers- enjoy. Simply thrilled the end is soon.

 

Fri, 06/03/2011 - 18:48 | 1337898 cynicalskeptic
cynicalskeptic's picture

Throw in the REAL inflation stats and we're at a record 'misery index'....  there's a reason governments fudge statistics.....  

keeps the sheeple from realizing they're not alone and rioting in the streets.  keep the bread and circuses coming.... only now we pipe the entertainment/diversions directly into your home (safer than letting the masses gather in the Coliseum where they can compare notes).... Food stamps are at a record number and unemployment benefits the same....  otherwise the corners would be full of apple sellers

Fri, 06/03/2011 - 18:16 | 1337782 geno-econ
geno-econ's picture

And the polititians are singing the common refrain "we need to concentrate on jobs" but are short on specifics.  Meanwhile everyday you hear another multinational is raising profit forecasts by going "global" , another term for "outsourcing" as well as closing plants in the US.   Last week Mazda ended partnership with GM and shifted production to Mexico. Also Delphi closed 13 US plants and is going global.  It seems we are hooked on a "global economy" while losing any US comparative advatages . All this will not end well because the economic model based on rising deficits cannot create jobs or real growth in near term. Sure , weakening US$ can eventually increase exports but don't hold your breath because financial meltdown will occur first

Fri, 06/03/2011 - 18:21 | 1337734 Arkadaba
Arkadaba's picture

Currently looking for a new position but not that worried. I have decided to limit my ZH news just because I need to stay positive.  Why I have faith:

http://arkadaba.blogspot.com/2011/06/why-i-love-ted.html?spref=fb

And yeah yeah  - not in denial.

And: http://en.wikipedia.org/wiki/The_Little_Prince

Fri, 06/03/2011 - 17:59 | 1337717 eternalblue
eternalblue's picture

i am biased being in the aerospace industry but i want to point out the "military shipments" graph is somewhat misleading.

The Pentagon has had budget pressure for last couple years and many programs have seen their budgets from the US cut.   Consequently, and as a result of the Fed turning the USD into toilet paper, many of these programs have turned to international sales. 

So that surge in military products may not even be mostly US funded, it may be international products.

Fri, 06/03/2011 - 18:07 | 1337696 Arkadaba
Arkadaba's picture

doubled

Fri, 06/03/2011 - 17:35 | 1337666 Flakmeister
Flakmeister's picture

Can I haz replay of Rome?

Fri, 06/03/2011 - 16:22 | 1337454 Alcoholic Nativ...
Alcoholic Native American's picture

lol, better take you and your children and hide out in the burbs until this whole thing blows over.

 

Fri, 06/03/2011 - 15:03 | 1337074 Whatta
Whatta's picture

The wife called a little while ago while crossing N. Mex on her way to see relatives in Colorado...passing a small roadside park in the middle of no where she saw a couple, apparently living at the park in a small tent with a sign saying something like, "We are desperate, please help".

Apparently they didn't once live in Calif., buy more house than they could afford, and get the memo you don't get evicted any longer if you don't pay your mortgage.

OmeriKa 2011.

Fri, 06/03/2011 - 13:45 | 1336759 Note to self
Note to self's picture

Question:  With the unemployment where it is right now, why is there apparently less of a homeless problem nationwide?  Whne employment was officially lower in 80s and 90s, we had mpore homeless.  What am I missing.  (Joke answers ok, anecdotes not allowed, true explanations most appreciated.)

Fri, 06/03/2011 - 18:46 | 1337885 Arkadaba
Arkadaba's picture

Moving in with relatives.

Fri, 06/03/2011 - 13:57 | 1336799 Mec-sick-o
Mec-sick-o's picture

The homeless got nice loans to get an unpayable house.  Instead of being homeless, they are really houseless.

Fri, 06/03/2011 - 13:20 | 1336609 Conchy Joe
Conchy Joe's picture

On top of that is underemployment.Is there anyomne who really tracks that accurately?

Most people I know that are still employed are making anywhere from 20 - 60% less than they were three years ago.

Many are working three and four day work weeks - effectively they have lost a quarter of a job.

Fri, 06/03/2011 - 13:23 | 1336592 ebworthen
ebworthen's picture

 

The Republicrats want to believe it is 1980.

The Demicans want to believe it is 1992.

It is 1933, except we have sold out our manufacturing base and citizens to Asia - and farms are inhabited by oil consuming machinery run by corporations and staffed by illegal immigrants rather than 33% of the U.S. population as families going to church on Sunday.

House of cards, house of cards, house of cards...

 

Fri, 06/03/2011 - 18:35 | 1337847 Buck Johnson
Buck Johnson's picture

Spot on, spot on.  We are being fleeced like no other people.  Because our people are ignorant and selfish and hateful and spiteful to anyone that has more than they do or look different.  Divide people and have them fight among each other, then they can move around the countryside looting while you fight another for nothing more than some perceived slight.  The US is a house of cards and their is no way out of it.

Fri, 06/03/2011 - 13:16 | 1336578 firefighter302
firefighter302's picture

And Steve Liesman and others on the idiot box and in Congress continue to say that higher taxes are the answer to job growth.

The size and scope of government is destroying us and the Democrats (and many Republicans) insist on telling us that more of the exact same, is the answer.  Is that not the clinical definition of insane? 

 Stop spending. No more debt. Cut entitlements. Cut taxes. Cut the military spending in 1/2. Get the troops home. Cut the foreign handouts. End the FED. Burn the Patriot act. Follow the Constitution.

That's the road recovery for "We The People".

(Phew...that felt good.)

Fri, 06/03/2011 - 15:51 | 1337314 Shell Game
Shell Game's picture

+++   Great post, very well said.

Fri, 06/03/2011 - 13:14 | 1336568 Tomified
Tomified's picture

Not fair to compare. Back then we had larger families that were typically supported by only one working parent. Today we have small families with both parents working; if only one of them loses their job, it's not the end of the world. Our current true unemployment likely causes much less suffering than unemployment during the depression.

Fri, 06/03/2011 - 14:34 | 1336943 buck4free
buck4free's picture

Tom,

You have it completely backwards. 

See: "Two Income Trap".

Great presentation on it here:

http://www.youtube.com/watch?v=akVL7QY0S8A

Fri, 06/03/2011 - 14:28 | 1336912 kumquatsunite
kumquatsunite's picture

Oh heck just call it like it is...meaning, the welfare crowd is exchanging body fluids (yuck!) and being paid to do so in order to create a morlock class that will be happy to one off their "betters". If you think this isn't so just look at who is shaking you down when you fly...class warfare? Think they don't enjoy watching you squirm and tell tales of it later at the tavern as they fall off the stool in a stupor? You are letting them breed on your dime, creating more, even dumber, mouth-breathers...good luck with that: they'll turn canabalist sooner or later, and you will be...tasty. Don't you just love where "compassion" takes ya?

Fri, 06/03/2011 - 19:56 | 1338073 AssFire
AssFire's picture

You Sir,

Are invited to Texas! Soon the skums will turn on themselves in the self cleaning oven that cranks up when their free shit runs out. Darwin knows; it is the law of species

Your story is so similar to the story Barry recounts in the book Ayers wrote for him: Enjoying admonishing white people to pick up their dog's shit.. 

Now junk me you brain washed liberals.

Fri, 06/03/2011 - 18:03 | 1337729 Loose Caboose
Loose Caboose's picture

Jeezuuuusssss!  Can you get any more smug or condescending you morally superior POS?  Talk about using a broad brush and demonstrating a total lack of empathy.  Not everyone on welfare is a "mouth-breather". And your exchanging of bodily fluids is just as yuck, believe it or not.  We all like to think that the other guy (class, race, sex - you fill in the blank) is the problem.  It's just what the elite want us to do.  Some day, some how, I wish you ill.  An attitude like yours deserves a walk in someone else's shoes - and with the tough times ahead, I'm sure we'll all get a chance at hard times.  May yours be a little harder for your lack of compassion.

Fri, 06/03/2011 - 15:22 | 1337137 ibjamming
ibjamming's picture

Are you kidding?  We'll shoot them down like dogs.  We'll keep them corraled in the inner cities.  They're not a threat.

Fri, 06/03/2011 - 13:22 | 1336624 Conchy Joe
Conchy Joe's picture

But more of them also lived within their means with many families capable of sustaining themselves for at least a few weeks.

Hasn't been like that in 40-50 years has it?

Fri, 06/03/2011 - 12:55 | 1336515 nah
nah's picture

can i vote for more

Fri, 06/03/2011 - 19:26 | 1338003 Esso
Esso's picture

You will be allowed to push the bright, shiny, candy-like buttons on the make-believe, pretend voting machine, if that makes you feel any better.

But to answer your question in a word, no.

Voting is far too important to be left up to the subjects.

Fri, 06/03/2011 - 12:57 | 1336509 AR15AU
AR15AU's picture

And the Political Economy Research Institute at the University of Massachusetts, Amherst has also shown that non-military spending creates more jobs than military spending.

Your such a douche... quoting fucking liberal college studies that say giving money to liberal colleges is better.  The military is one of the few legitimate areas of Federal government expense. Yes, the military needs deep cuts, but the department of education can be eliminated outright.


Fri, 06/03/2011 - 13:34 | 1336675 TheBillMan
TheBillMan's picture

Okay, I was going to write something about the military and going off to war, but I'll just say this.  Lay off the Left/Right BS.  Both sides are whores who take money from Wall Street.

Fri, 06/03/2011 - 13:44 | 1336708 AR15AU
AR15AU's picture

I agree that we should not be going to war. But my overall point is that the military is one of the few legitimate services for the Federal government to be providing, and that even those services can be greatly curtailed..

 

Right Wing means Limited Government, and that concept is real, even if "republicans" don't embrace it. Yes my friend. Republican vs Democrat is a bullshit game, but Right Wing vs Left Wing is a very real battle.

Fri, 06/03/2011 - 19:49 | 1338053 Founders Keeper
Founders Keeper's picture

[Republican vs Democrat is a bullshit game, but Right Wing vs Left Wing is a very real battle.]---AR15AU

Perhaps TheBillMan misspoke. Maybe meant to say Reps vs Dems is a non-sensical game.

Now, Left(progressive, liberal, socialist, Marxist) vs Right(constitutionalists, individualists, classic liberalism, conservatism, capitalism) is indeed the only battle. (Personally, I put the "Left" on the left, the "Right" in the center, and the anarchists on the right.)

There's always been two camps of thought (left of "center" and right of "center." Where more exists, they stand as variations on one of the two camps.

Yours was a good post. Got Junks? You aren't really posting until you get Junked. Keep up the good work!

 

 

Fri, 06/03/2011 - 12:53 | 1336508 White.Star.Line
White.Star.Line's picture

Any published report, statistic, or accounting by this "paid for" government cannot be trusted. The books from mob-owned Las Vegas casinos in the 1960's were more legitimate.

Fri, 06/03/2011 - 12:51 | 1336500 Shell Game
Shell Game's picture

The employment situation is F.U.B.A.R.  If you are not government employed or corporate employed, you are shit out of luck and destined for a fast food job, if you're lucky.

Of course QE3 is not the answer we want, but it will be the answer we will get. The charade must go on as it's now a matter of national security for TPTB.  When people finally understand that government and paper money are never the solution, maybe we'll start to rebuild.

Fri, 06/03/2011 - 15:22 | 1337158 Transformer
Transformer's picture

Likely, the answer we will get is hyperinflation, starting up in early fall, perhaps much sooner if a sudden loss of faith in the dollar occurs.  If hyperinflation starts, the Fed will need no justification for QEx or any other stimulus, the government will simply be trying to survive and pay its bills.  Never in history has a fiat currency been used by the whole world, with such a huge military machine to be supported by the issuing country.  There is no other sovereign nation to bail out the US.  Collapse is inevitable at some point, whether it be the financial system, or the US government. 

We are in an unprecedented situation which will lead to unprecedented outcomes.  See

http://www.shadowstats.com/article/hyperinflation-special-report-2011#_T...

 

Fri, 06/03/2011 - 16:21 | 1337294 Shell Game
Shell Game's picture

That is my point exactly. QE-X to infinity.  Collapse is coming and there is only one form of collapse that benefits the elite and that is hyper-inflation.  Those with nearest access to freshly 'minted' FRN will be the first to exchange them for tangilbes - the very essence of HI.  I read that report from William's a couple days ago, very good.

Fri, 06/03/2011 - 12:52 | 1336490 camaro68ss
camaro68ss's picture

Im starting to shake, I need some of that QE3..... you got any?

Fri, 06/03/2011 - 13:26 | 1336631 Conchy Joe
Conchy Joe's picture

None of us will ever get any - but you can bet we'll pay for it.

Fri, 06/03/2011 - 13:08 | 1336557 dracos_ghost
dracos_ghost's picture

Except QE(x) will insure MORE unemployment. Why take risks hiring, buying capital equipment, etc.. -- you know do business and build economies -- when Benny and Jets will just comp more money to the banksters and Wall Street elite to play in the casino.

Bernank needs an intervention. The free money(ie heroin) ain't working bubba.

 

Fri, 06/03/2011 - 13:31 | 1336658 mickeyman
mickeyman's picture

Here's a link to a chart that may prove your point. In this recession, more money creation has correlated with higher unemployment (using official BLS statistics).

http://worldcomplex.blogspot.com/2011/03/irreversible-damage-to-economy-from.html

Worse, we are now at a point where the change may have become irreversible. Reversing the monetary spigots has not reversed unemployment.

 

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