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US Has To Create 250K Jobs A Month For 66 Months To Return To December 2007 Unemployment By End Of Obama's Second Term

Tyler Durden's picture




 

It was difficult rerunning this chart with a straight face, make that near impossible, but here are the results. Following the most recent NFP disappointment, the simple math indicates that for the US to return to its December 2007 unemployment, when factoring in the natural growth of the labor force of 90k people a month, the economy will need to add 250k jobs a month for the next 66 months or until the end of Obama's now very implausible second term. Then again, considering what the alternatives are, we can guarantee that the 2012-2016 period in terms of job creation will definitely not look like what is presented on the chart below.

 

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Fri, 06/03/2011 - 09:59 | 1335700 DaddyO
DaddyO's picture

 

Pathetic, just absolutey pathetic!

DaddyO

Fri, 06/03/2011 - 10:19 | 1335789 jus_lite_reading
jus_lite_reading's picture

QE TO INFINTY AND BEYOND!!!

BREAKING NEWS!!! VOLCANO IN MEXICO CITY LIGHTING UP!! ASH COMING OUT NOW!!

http://fiatsfire.blogspot.com/2011/06/fukushima-fry-day-redux-m63-earthq...

AND REACTOR 4 WAS ON FIRE!!! HOLY SHIIIIT!!!

AND GREEK PM IS ACCUSED OF TREASON!!!!! WTF?!?!

Fri, 06/03/2011 - 10:33 | 1335869 mtomato2
mtomato2's picture

Interesting link.  Where's Drudge on this?

Fri, 06/03/2011 - 11:59 | 1336207 jus_lite_reading
jus_lite_reading's picture

AND THIS!!

http://www.dailyjobcuts.com/

 

THE SKY REALLY IS FALLING!!

Fri, 06/03/2011 - 12:31 | 1336422 Libertarian777
Libertarian777's picture

so should I BTFD on SKY? or is it hard to catch this falling knife?

Fri, 06/03/2011 - 11:17 | 1336077 DaddyO
DaddyO's picture

 

Tha above link has some virus issues in some of their links. try this link...

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/06/03/internationa...

DaddyO

Fri, 06/03/2011 - 11:35 | 1336161 jus_lite_reading
jus_lite_reading's picture

What?? I clicked on every link this morning when I read that blog and there was not one virus...... its a good read everyday.....

Fri, 06/03/2011 - 10:25 | 1335826 TheTmfreak
TheTmfreak's picture

I'm bullish for reality peaking through the cracks at a more rapid pace.

Fri, 06/03/2011 - 11:14 | 1336079 DaddyO
DaddyO's picture

 

+1

DaddyO

Fri, 06/03/2011 - 10:11 | 1335701 Life of Illusion
Fri, 06/03/2011 - 10:14 | 1335773 tarsubil
tarsubil's picture

Government stimulus does take a while to cause inflation but what if the Fed is buying stocks directly? Very little delay in that scenario, right?

Fri, 06/03/2011 - 11:37 | 1336177 jus_lite_reading
jus_lite_reading's picture

Ben was trying to create inflation without actually creating inflation by making the rich richer... the bastard knew what he was doing when he did that.... just like tax cuts are supposed to create jobs!!!! LMAO!!

Fri, 06/03/2011 - 09:56 | 1335703 Dreadker
Dreadker's picture

Thats easy... just give all the unemployed a sign to spin around like bruce lee... Thats a job right?  I see them everywhere now!

Fri, 06/03/2011 - 10:00 | 1335707 hedgeless_horseman
hedgeless_horseman's picture

Will "saved or created" work?

Fri, 06/03/2011 - 09:57 | 1335708 alien-IQ
alien-IQ's picture

My dad's a TV repair man...he's got like the ultimate set of tools...we can fix it. It's like, totally doable!

Fri, 06/03/2011 - 10:21 | 1335817 mfoste1
mfoste1's picture

hahah

Fri, 06/03/2011 - 09:59 | 1335719 Prepared
Prepared's picture

schnikerz ya'll, that's just nasty from any angle. 

Fri, 06/03/2011 - 10:03 | 1335720 Printfaster
Printfaster's picture

Sign up all the unemployed as paid demonstrators, like the ones that appear in Manhattan every day marching between the federal building and Wall Street.

Demonstration signs for the unemployed, that is the ticket.  We can do better than Greece:  We can pay for the demonstrators.

 

Fri, 06/03/2011 - 10:16 | 1335793 JohnG
JohnG's picture

I've actually tried to think of a way to do that...at a profit.

Fri, 06/03/2011 - 10:19 | 1335803 Conrad Murray
Conrad Murray's picture

I can provide the signs. Use the sign money to give the demonostrators Taser Shockwaves, LRADs, and CTS Sting-Balls.

Fri, 06/03/2011 - 10:42 | 1335927 JohnG
JohnG's picture

If I could find a way to at least break even, I would do this as long as my lawyer tells me I won't get jailed for inciting riots.

Fri, 06/03/2011 - 12:32 | 1336426 Libertarian777
Libertarian777's picture

hire someone to incite the riot, then become a lawyer to sue the police...

Fri, 06/03/2011 - 10:00 | 1335722 e_u_r_o
e_u_r_o's picture

rofl

Fri, 06/03/2011 - 10:04 | 1335731 FeralSerf
FeralSerf's picture

No problemo.  Now if they can just find enough airports to put all those worthless new TSA emplyees in.

Good news is your crotch will now be certified free of explosive devices.

Fri, 06/03/2011 - 10:30 | 1335846 Dr. Richard Head
Dr. Richard Head's picture

I called into the TSA to see if athletic cups were on the list of prohibited items as I didn't want to get my testicles tickled.  The "Customer Service Agent" explained that it is not on the list of prohibited items and could be worn. 

I guess I will see in a couple of weeks when I go flying.  I will be recording the event and anticipate that they will insist that I remove the cup.  I hope to get them to admit that my balls must be fondled prior to entering the "secure zone". 

Should be fun.  TSA "Patdowns" - Feel the Freedom.

Fri, 06/03/2011 - 10:36 | 1335885 mtomato2
mtomato2's picture

I really want to hear the follow up on this.

Fri, 06/03/2011 - 10:44 | 1335914 Dr. Richard Head
Dr. Richard Head's picture

I will definitely post it on my ShakedownR3volution YouTube Channel when the time comes.  The video will also be streaming to www.openwatch.net and downloaded so destruction of the phone will not destroy evidence. 

Oh yeah - I will be wearing this T-Shirt too - http://www.zazzle.com/tsa_parody_customizable_shirt-235563828656837647  Weeeeeeeeeeeeeee..........

Fri, 06/03/2011 - 10:52 | 1335969 mtomato2
mtomato2's picture

Effing ay, man.

Effing ay.

Fri, 06/03/2011 - 16:29 | 1337462 Van Halen
Van Halen's picture

First laugh I've had all day in the midst of this grim economic news. Thanks! 

Fri, 06/03/2011 - 10:41 | 1335894 serotonindumptruck
serotonindumptruck's picture

Those TSA folks don't have much of a sense of humor, especially if they think you're intentionally fucking with them. You should plan on missing that flight and being placed on the infamous "no-fly" list.

Will you be posting your experiment to YouTube?

Fri, 06/03/2011 - 10:46 | 1335926 Dr. Richard Head
Dr. Richard Head's picture

FUCK the TSA.  I don't have much tolerance for men touching my balls.  Not intentionaly fucking with them though, just intentionally protecting my family jewels.

Fri, 06/03/2011 - 12:00 | 1336288 Quantum Nucleonics
Quantum Nucleonics's picture

I'd go easy on the rank and file TSA folks.  They are their for a job, and I imagine would rather not fondle you... well, most of them anyway.  It's the policy makers where your rightful scorn and contempt should be directed.

Fri, 06/03/2011 - 12:04 | 1336301 overmedicatedun...
overmedicatedundersexed's picture

quantum, you forgive the nazi guards at the ovens also as they were just following orders is that the logic you are using??

Fri, 06/03/2011 - 12:50 | 1336416 Dr. Richard Head
Dr. Richard Head's picture

Feel free to give away your rights without resistance, but I reserve the right to keep mine. 

I am not going easy on any of them.  You know, I have a quick story for you.  I went to work in the mortgage industry originating loans for a brokerage house back in 2004.  I walked away from a $20K commission check and refused to close the loans (of course the manager ended up hoodwinking these customers anyway).  I flat out refused to fuck ignorant people.  It took me a few weeks to figure out the mortgage game and how people were getting fucked, but once I found out I could not stay in that job.  You wanna know why?  It's called integrity and I have no problem getting on my soap box because I walked the walk. 

I had a choice.  A nice cool 20 g's and fuck someone over, trust me I needed the money for my wife and daughter to eat, or not take part in the game.  I decided on the latter and I have no pity for someone who fucks with others because they need a paycheck. 

The TSA can go to hell and fucking die. 

Fri, 06/03/2011 - 10:01 | 1335733 pepperspray
pepperspray's picture

Obama- FEMA just called.  They want to know when they can start unloading the buses at the detention facilities.

Fri, 06/03/2011 - 10:45 | 1335924 serotonindumptruck
serotonindumptruck's picture

Not detention facilities. Resettlement camps.

Words have meaning, doncha know.

Fri, 06/03/2011 - 16:27 | 1337468 Van Halen
Van Halen's picture

Not resettlement camps, corrective reeducational institutions.

Fri, 06/03/2011 - 10:05 | 1335735 johnnymustardseed
johnnymustardseed's picture

42,000 jobs a month still going to China. Have been for about ten years. That is the problem, we don't make shit here anymore. People are flat out stupid to shop at WalMart.

Fri, 06/03/2011 - 10:55 | 1335982 DeltaDawn
DeltaDawn's picture

I am affixing my "don't blame me, I voted Perot" bumper sticker on today!

Fri, 06/03/2011 - 10:02 | 1335740 Greeny
Greeny's picture

F Jobs, Market going up.. :))) Load up on stocks.

We might even closed up in green.

 

Fri, 06/03/2011 - 16:10 | 1337391 AbandonShip
AbandonShip's picture

did you forget "/sarc" ?

Fri, 06/03/2011 - 10:06 | 1335742 buzzsaw99
buzzsaw99's picture

That would fix the budget deficit. Not. lulz

Fri, 06/03/2011 - 10:07 | 1335746 DeltaDawn
DeltaDawn's picture

Guess he will roll out his civilian defense force proposal next, considered a solution in the eyes of a Marxist.

Fri, 06/03/2011 - 10:37 | 1335892 Dr. Richard Head
Dr. Richard Head's picture

This is my rifle this is my gun.  This is for shooting this is for fun.

Fri, 06/03/2011 - 10:07 | 1335753 Caviar Emptor
Caviar Emptor's picture

Fed to hire runners to carry QE funds to PDs. 

Expected to boost job creation by titrating size of QE to jobs needed

Fri, 06/03/2011 - 10:11 | 1335757 overmedicatedun...
overmedicatedundersexed's picture

any sucessful small business owner would be able to turn us around..thats why we got people in charge who can't even run a tax program made for IQ's of 96.

somebody has to go to jail..holding breath turning blue.

Fri, 06/03/2011 - 10:12 | 1335759 Silver Brass Lead
Silver Brass Lead's picture

Go long on Hope and Change!

Fri, 06/03/2011 - 10:12 | 1335761 Caviar Emptor
Caviar Emptor's picture

Grand jury has indicted two-time presidential candidate John Edwards. (AP)

That should have read Two-Timing presidential candidate

Fri, 06/03/2011 - 10:13 | 1335765 AldoHux_IV
AldoHux_IV's picture

Once the QE train starts going the numbers will be cooked to provide those necessary numbers as the B/D model will add the majority of the fluff numbers and MCD will need more janitors and JPM will need food stamp processors.

Fri, 06/03/2011 - 10:09 | 1335767 digalert
digalert's picture

Stealing a line from the comedian Joe Biden:

"those lost jobs aren't coming back"

Fri, 06/03/2011 - 10:13 | 1335768 hedgeless_horseman
hedgeless_horseman's picture

Can you rerun this one with a straight face?

Fri, 06/03/2011 - 10:23 | 1335809 subqtaneous
subqtaneous's picture

Oh....that!  Well, that was factoring in a world war.

 

Fri, 06/03/2011 - 10:34 | 1335877 Atomizer
Atomizer's picture

Here.. I fixed your chart for you.

http://thepeoplescube.com/images/Stimulus_Worked.gif

 

Fri, 06/03/2011 - 10:41 | 1335917 mtomato2
mtomato2's picture

Man.  That's fkcunig BRILLIANT!

Fri, 06/03/2011 - 10:42 | 1335923 mtomato2
mtomato2's picture

HEY!  How come you get to post pictures!?

Fri, 06/03/2011 - 10:13 | 1335769 Racer
Racer's picture

Fake jobs and fake market in a fake economy.... nice one ChairSatan.... as long as the stock market goes up that is all you care about.

People are expendable and useless

Fri, 06/03/2011 - 10:21 | 1335816 Caviar Emptor
Caviar Emptor's picture

Chairsatan and his overlords get high marks in Keeping Up Appearances. 

Fri, 06/03/2011 - 10:11 | 1335776 cxl9
cxl9's picture

Step 1. Print up truckloads of cash.

Step 2. Hire millions of government employees or contractors (who do nothing of any value, of course).

Step 3. Wage inflation up. Unemployment numbers down.

You do know that's where this is going, right?

 

Fri, 06/03/2011 - 10:15 | 1335777 Dr. Doom
Dr. Doom's picture

Did Lazlo Birnyi draw that line with his ruler? 

Fri, 06/03/2011 - 10:16 | 1335779 chunkylover42
chunkylover42's picture

no problem, just expect birth/death adjustments of ~+500,000 each month.

Fri, 06/03/2011 - 10:18 | 1335787 ziggy59
ziggy59's picture

create is the word ...

 

presto chango rewrite history..

 

 

Fri, 06/03/2011 - 10:20 | 1335796 MonsterZero
MonsterZero's picture

Time to open up a Soylent Green factory and make something useful of all these unemployed people!

Fri, 06/03/2011 - 10:22 | 1335801 Silver Dreamer
Silver Dreamer's picture

A world war would solve the problem.

Fri, 06/03/2011 - 16:10 | 1337398 AbandonShip
AbandonShip's picture

heh, too many unemployed people? Just kill them off.  Demonic, but creative.  I wonder if it's been tried before, I'd hate to break new ground.

Fri, 06/03/2011 - 10:19 | 1335806 YHC-FTSE
YHC-FTSE's picture

Perfect time for a charismatic leader to come along, sign up the unemployed for Stormtrooper duty and start the wholesale invasion of every single country in the world. Retail invasion is so last century, and all the political, economic, social and legal variables are lined up perfectly in the US to make it happen. 

Fri, 06/03/2011 - 10:23 | 1335831 Bastiat
Bastiat's picture

Was about to type the same thing.

Fri, 06/03/2011 - 10:20 | 1335811 cynicalskeptic
cynicalskeptic's picture

Lots of luck with that..... BOTH parties have been instrumental with the wholesale shipment of jobs overseas - and are doing NOTHING to stop it.  If anything the process continues at an accelerated rate.

All those banks and Wall Street firms that took billion of $$$ are shipping back office operations like A/P and A/R overseas - like they already did with Data Processing and Systems (remember all those people retraining as programmers and systems analysts after manufacturing jobs were eliminated?  -  tons of CompSci MS degrees with experience are unemployed in NY after the financial guys shipped their jobs overseas).

We're seeing an endless pursuit of for the cheapest possible labor - ship factories overseas - and now service jobs.  If you can't ship the jobs, you bring in cheap labor - H1B's for 'high tech' in Silicon Valley instead of hiring US grads or illegal immigrants in meatpacking plants. 

Goldsmith was right GATT, NAFTA and all those 'free trade' agreements meant the collapse of the Middle Class in western democracies (are we STILL on of those?  or a plutocracy?)

Welcome to the new serfdom.   

Fri, 06/03/2011 - 10:46 | 1335929 aerojet
aerojet's picture

There are plenty of software developer jobs out there as long as you don't mind taking a 40-50% haircut on whatever salary you were making previously.  I've been looking for a new job and there are plenty and I get calls for interviews and then I find out that the pay is at least 20% less than what I make now and they won't negotiate higher.  WTF?  I have been doing this work for over 15 years and I'm good at it.  But I suddenly realized that I am making the most I will ever make in my life (which isn't that much, frankly).  I'm looking at going back to independent consutling (higher risk) because I'm topped out as far as salaried goes...

BTW, H1Bs are taking it in the you-know-where.  I know of several guys who moved back to India because they were sick of the exploitation and nobody wants to hire an H1B right now, nobody. 

None of those people who "re-trained" were ever worth a damn for the most part.  Exceedingly few of them had the aptitude for high-tech work.

 

 

Fri, 06/03/2011 - 10:26 | 1335829 mfoste1
mfoste1's picture

bullish

Fri, 06/03/2011 - 10:24 | 1335832 natureoftheexpe...
natureoftheexperiment's picture

Increase the mony supply, yoiu silly goose.

Fri, 06/03/2011 - 10:24 | 1335836 packman
packman's picture

"...Obama's now very implausible second term..."

Just curious as to who you think will end up beating him?

Short of complete armageddon (which I wouldn't completely discount), Obama will most certainly get a second term.  The competition is that weak.

 

Fri, 06/03/2011 - 16:14 | 1337425 AbandonShip
AbandonShip's picture

Don't know why he got junked.  He's right!  IMO, only Ron Paul has a chance of taking Obama down and that's just because he's preaching something so different that many Americans might take it seriously.

(So go ahead and junk me too)

Fri, 06/03/2011 - 10:25 | 1335838 Use of Weapons
Use of Weapons's picture

That looks like the Nike logo.

Fri, 06/03/2011 - 10:32 | 1335849 hedgeless_horseman
hedgeless_horseman's picture

SwooshTM shaped recovery.

Made in China.

Fri, 06/03/2011 - 10:48 | 1335940 mtomato2
mtomato2's picture

AAAAAAAND you can use superscripts!

 

Fri, 06/03/2011 - 12:33 | 1336417 Use of Weapons
Use of Weapons's picture

Can he do a triforce though?

 

(Purile humour alert, I'm tracking LulzSec's moves at the moment, semantics rubbs off. And again.)

Fri, 06/03/2011 - 10:29 | 1335840 overmedicatedun...
overmedicatedundersexed's picture

cyn  add importing third world illegals by the millions ..a two fer..letting our people see how to others can live on third world income right here at home and of course taking jobs from our own citizens to create the welfare economy..

brilliant.

Fri, 06/03/2011 - 10:31 | 1335848 overmedicatedun...
overmedicatedundersexed's picture

how will you hold an election in 12 with a hot free fire zone?

somebody has to go to jail..looks more like it will be Joe America and family to fema camps.

Fri, 06/03/2011 - 10:34 | 1335858 aerojet
aerojet's picture

Does Mad Max style raping and pillaging count as "work?"

Fri, 06/03/2011 - 10:34 | 1335864 lizzy36
lizzy36's picture

But Goolsbee says the economy is on a "positive trajectory" and is creating "private sector" jobs.  And by private sector he means MCD jobs and by positive trajectory he means 4th derivative green shoots.

One might want to point out to Goolsbee what Tyler noted earlier:In the past 4 months, according to the NFP, the US has "added" 752K jobs. 610K of those are Birth/Death adjustments.

Fri, 06/03/2011 - 10:31 | 1335865 Alcoholic Nativ...
Alcoholic Native American's picture

Don't forget we got all those brave mercs fighting unemployment over seas.

Fri, 06/03/2011 - 10:33 | 1335868 Catullus
Catullus's picture

It sort one those charts you draw when you're so hopelessly in the red that you'll tell yourself anything to convince yourself to just keep holding on and it'll come back and you'll be proven right.

What we obviously need to create is another fast food chain to fill the employment gap. Like why is In&Out burger hoarding all this cash? We need jobs, people! Stoke those animal spirits with animal-style triple stacks.

Fri, 06/03/2011 - 10:49 | 1335953 mtomato2
mtomato2's picture

We need Whataburgers in North Georgia, bad.

Fri, 06/03/2011 - 10:37 | 1335870 Greenhead
Greenhead's picture

I was talking with an acquaintance the other day.  He is a real worker, runs cows, bails hay, does electrical work, raises horses and does a lot of other odds and ends.  He has a 15 year old son who works with him in the summer and after school.  Son asked him why he had to work so hard when the older brothers and sisters of his classmates got out of high school and didn't have to do anything. 

Not saying we should ignore the problem of unemployment but some of it happens because it can.

Fri, 06/03/2011 - 10:34 | 1335873 Caveman93
Caveman93's picture

When charted out Tyler, it kinda looks like a guillotine blade. Nice!

Fri, 06/03/2011 - 10:40 | 1335890 Gully Foyle
Gully Foyle's picture

Jan Wolfhouse: So yeah, I heard you got fired from the brewery?
Landfill: [Landfill gets mad, throws his trophy] God damn brewery! You know that brewery makes 10,000 bottles of beer a day. I drink 45 of them, and I'm the asshole!

Fri, 06/03/2011 - 10:45 | 1335925 Printfaster
Printfaster's picture

More ideas for employment:

Ben can quit using the computer and use the toilet paper factories.  We can then hire people with handcarts to buy our groceries every morning:

http://www.vision.net.au/~pwood/Volume388.jpg

We can double the number of employed, if we can get OSHA to make wheels on handcarts illegal:

http://www.vision.net.au/~pwood/Volume143.gif

 

Fri, 06/03/2011 - 10:47 | 1335933 Assetman
Assetman's picture

Okay... so throwing trillions of $$$$ of taxpayer money at the problem via deficit spending by our government and outright monetization of US debt has gotten us absolutely nowhere over the past 2 years.  In fact, it's clearly apparent that any "self sustaining recovery" has been anything but-- even while money is still being pumped into the system.

So... who wants to bet the prescription for these ills from our so called "leaders", is to spend even more and go even deeper in debt?????

We are now entering the Valley of Major Fail.  We will meet you there soon enough, Greece and Ireland.

 

Fri, 06/03/2011 - 10:52 | 1335966 Byronio
Byronio's picture

With all of the legal immigration coming into America each year, not counting Diversity Visas, Family Reunification aka Chain Immigration, etc, and with DIVERSITY GOALS in private as well as goverment employment, affirmative action, etc, well there is a certain demographic that is getting F--Ked over.

A woman I know went for a job with a public agency, she was told, "you have to be bilingual" well when the woman said, "I am bilingual" the latina government worker said, "You have to be BICULTURAL also" in other words, Whites need not apply.

The government office had one black guy, who had his feet up on his desk while chatting with somebody on his cellphone, and the rest of the employees were all Latino.

The government encourages employers HERE to use H1-B visas and a whole alphabet soup of visas to IMPORT workers from 3rd world HERE to take OUR jobs. Microsoft uses the visas to bring in stocking clerks at their warehouse in Washington state. The government has White teachers fired on some pretext or other as in Arizona and Louisiana and Rhode Island, THEN uses the visas to import teachers from Mexico and the Phillipines, same with nursing. IT gets worse: Obama gave BILLIONS to INDIA last year as did many big corps to enlarge their outsourced American jobs. Still think the Wall Street capitalists are your pals?

Fri, 06/03/2011 - 10:55 | 1335983 overmedicatedun...
overmedicatedundersexed's picture

byro, didn't know Obuma was a wall street capitalist?? you know he is ahemm sorta black I am told..please explain..

Fri, 06/03/2011 - 10:59 | 1336003 Greenhead
Greenhead's picture

How do you equate Wall Street and Capitalism?  I don't disagree with the labor issue.  Why import when we have a surplus available here?  Perhaps if we let capitalism actually work and let the excess supply of labor influence its price, then we might begin to be competitive on the world market.  Arbitrarily keeping the price of labor elevated for political purposes while we pay extensive unemployment and support costs doesn't make a lot of sense.

Fri, 06/03/2011 - 10:49 | 1335970 overmedicatedun...
overmedicatedundersexed's picture

the frog has been boiled ,what next? you MFers

can't make it jump!!

somebody has to go to jail and executed I would add.

Fri, 06/03/2011 - 11:00 | 1336014 overmedicatedun...
overmedicatedundersexed's picture

some here on ZH still think of capitalism as static..add in government and well it never gets pure..high tariffs did protect jobs in America..when prioities changed to create the NWO tariffs did not help that one bit  NAFTA just cut more deeply by tranfering jobs out faster.

Fri, 06/03/2011 - 11:13 | 1336073 Greenhead
Greenhead's picture

You don't really know that jobs were protected on the whole.  Some jobs never got created because the reciprocal tariffs kept the market much smaller than it might have been.  Not saying there should be no tariffs, clearly they should be in place to offset punitive tariffs in other countries. 

The problem is who gets to decide which industries will be protected.  Wall Street got protection and everyone is pissed (and rightly so).  GM got protection, AIG got protection, ethanol gets protection and on and on.  Does that make us more efficient or really create more jobs?  At what cost?

Fri, 06/03/2011 - 11:44 | 1336211 karzai_luver
karzai_luver's picture

ALL man made "systems" fail . Those that persist in those systems fail along with them.

 

Fri, 06/03/2011 - 11:07 | 1336027 alexdg
alexdg's picture

I'll match your 250k and raise you to 300k!

Fri, 06/03/2011 - 11:59 | 1336293 overmedicatedun...
overmedicatedundersexed's picture

Greenhead you seem like a reasonable person, so perhaps this would help you to understand this issue: I did a study of tariffs a few years ago took data from Dept of Treasury web site..ave world wide tariffs on USA made goods 20%+ ave tariff on imported good into USA 2%..no level playing field IMO..and punitive tariffs in every country I looked at ..add in tax benefits to move over seas (see GM building car plants in mexico after 2008 no less)..the picture is very clear..the plan is to remove jobs as fast as possible from USA.

incompetence and corruption do not explain systemic programs to evicerate jobs here. it is obviously planned.

Fri, 06/03/2011 - 12:25 | 1336391 Greenhead
Greenhead's picture

"Not saying there should be no tariffs, clearly they should be in place to offset punitive tariffs in other countries. "

OM, I agree that there is no such thing as free trade but the closest we can come is when reciprocal tariffs are somewhat comparable.  Also, when govt subsidies are non-existant as they are a form of imputed tariff.

There was an article in the WSJ back in the mid 80's that forecast the job erosion to come due to the USD being the world's reserve currency.

 


By


John D. Mueller POLITICAL ECONOMY


The Wall Street Journal


 


Publication Date: September 4, 1986

It is a systemic problem.

Fri, 06/03/2011 - 12:03 | 1336294 Quantum Nucleonics
Quantum Nucleonics's picture

If the economy continues on its current trajectory, Obama won't have another 4 years.  Jimmy Carter got stomped in 1980, when unemployment was 200bps lower than now.

Fri, 06/03/2011 - 14:56 | 1337036 Kilgore Trout
Kilgore Trout's picture

I don't need no stinkin' job. I need a check!

Fri, 06/03/2011 - 15:47 | 1337277 Syrin
Syrin's picture

85% of college graduates are moving back in with their parents, and 60% are unemployed, but still saddled with tens of thousands in student loan debt. They will be a lost generation. What employer would hire someone who was 2-4 years out of college with no work in their field with their skills atrophying away as a part time waiter when they could hire someone right out of school? These college grads will literally spend their whole life paying off their debt and may never have a job in their field of choice. But hey, they can say they voted for "not Bush" and for hope and chains

Fri, 06/03/2011 - 16:20 | 1337448 AbandonShip
AbandonShip's picture

hmmm...Just like Japan's "Lost Generation"

http://www.businessweek.com/globalbiz/content/may2007/gb20070517_814046.htm

School's a nice place to duck out when the economy sucks.  Better even if you manage to hold a decent job during the downturn and time your gradudation to a real uptick in hiring.

Fri, 06/03/2011 - 16:11 | 1337396 DeltaFunctionToronto
DeltaFunctionToronto's picture

Forget jobs -- until federal income relative to debt normalizes, there is no hope of sustained job creation. What will captivate all parties over the 2012-2016 timeframe is the gold price revaluation required to reflect this imbalance (debt v. income).

Be glad the administration has a long-term plan to re-link the dollar to gold, as this will prove to be a significant move in reducing the severity of an otherwise impending depression.

 

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