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US Must Create 245,500 Jobs A Month To Return To December 2007 Employment Rate By End Of Obama Second Term
Looking at today's NFP report which beat consensus by 26K jobs, it is easy to lose perspective of the big picture. Whch is as follows: in order to regain the millions of jobs lost since the start of the Depression in December 2007, and return to the same unemployment rate when factoring in the natural growth rate of the labor force of 90,000 per month (not our estimate: CBO's), the economy will need to create 245,500 jobs each and every month by the end of Obama's tentative second term in November 2016.
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"By End Of Obama Second Term"
I just spit coffee all over my screen. Nice comedic relief!
I just choked on my cookie and passed milk through my nose. That was funny!
Change you can believe in!
Chains you can believe in!
APRIL FOOLS!
I just felt a wave of nausea.
what comic relief? Obama wins against almost any of the losers the Republicans can toss out against him.
Personally I liked the Depression beginning in December 2007 remark, I agree too.
Obama's second term...? That shit makes me cry at night all over my pillows.
me 2 :/
7.5% unemployment will get Obummer re-elected, bitchez!
Yep - the political appointees at the Ministry of Truth will print whatever number they think they need to print in order to get 4-more years at the public teat.
With data manipulation they will get the number there. Reality, however, will tell a different story. The government will lose credibility (assuming there was any begin with)
[With data manipulation they will get the number there. Reality, however, will tell a different story. The government will lose credibility...]---Ray1968
And with it, credibility in the currency. Hallmark of hyperinflation. History is predictable.
They will undo themselves; they cannot help themselves.
Agreed. The die is cast. We no longer have men of character nor do we have a society that is willing to do what it takes to fix the problem. The pain will be too great for voluntary correction, so they will wait until death is upon us.
8.8%
WTF!?!
Just saw an interview on Bloomberg with Betty Liu and some smug White House lackey who said, and I'm paraphrasing, "Of course, this doesn't count the people who dropped out of the workforce and are not looking for employment, but should they start looking again, we will count them."
Brilliant. Fucking brilliant.
The lapdog Media, Socialist Labor Unions, and entitlement-brokerage non-profits WILL subvert our 2012 elections anyway.
Was 2010 the last free and fair election?
Will 2012 be the last free and fair election?
Am wondering.
Don't forget the disputed results and the 51% wins for Bush on 2000 and 2004. Don't kid yourself, I don't think we've had a relatively "fair" one since maybe the 1980s?
This just came out about 2010:
http://thehill.com/homenews/house/153079-gop-says-5000-non-citizens-voti...
Yes we can do that! At least that is what will be reported.
The only thing the US can create are SPY trading units and fiat currency
please draw chart showing what year US FEDERAL BUDGET deficit is going to be zero? cant wait to see one
more jobs. more income, more taxes, deficit is less..
alx
To save you the suspense my calculations have that occuring around the year technology has advanced to the level that Ted Williams head is reaninamated and affixed to a cyborg. As a matter of fact I am hearing we will celebrate this occasion and victory for Keynesian policies by having Ted personally air drop the last dollar owed to China as he cruises past them on his hoverboard. Im just sad I will not be around to see this day.
What's the number of jobs that have to be created monthly once you subtract-out the totally made-up "birth-death adjustment" to NFP, I wonder. Probably rather well north of 300K.
We're gonna need a bigger ink cartridge.
It's amazing how quickly the zeitgeist here has changed from QE3 is inevitable to QE3 is dead. I guess QE Lite continues. I guess we will see whether this market can stay levitated without the prospect of more overt moneyprinting by Ben. I still think that Faber is right : "The moneyprinter will print" but how is the question.
successive rounds of publicly disclosed austerity and stimulus... while, probably, at the same time running background stimulus/guarantees/swaps... the only question is whether the economy implodes as planned or explodes from too much explosive charge. Either way, it ends in a hyperinflationary depression.
[successive rounds of publicly disclosed austerity and stimulus...]---MachoMan
Thanks for your post, Macho.
I'm in the QE3, 4, 5, etc. camp. However, the term "QE" will likely be a avoided as a matter of talking point policy. Very much like March 2009 when the Fed went to the TBTF banks and informed them another public bailout would not be tolerated by the public; instead, the Fed did a quiet work-around to float the banks.
Expect QE3, 4, 5, etc. but it may be a quiet work-around. They print. They always print.
Yes. "background stimulus". The goal is a successive decrease in the amount of stimulus, aka a controlled demolition. The problem, of course, is that not only the % of debt to revenues matters, but also the aggregate debt... meaning, unless it's actually being worked off, we're just digging the hole deeper, even if some type of organic recovery occurs and as a percentage, we look errr better or we look better relatively speaking by doing "less" stimulus.
QE may always be disregarded for a more advantageous term. However, make no mistake, we will take to the streets to demand stimulus... in the form of continuation of entitlements. While it may be politically impossible to stuff through another TARP to the banks, it will not be to stuff through a Teachers Airmen Retirees and Patrolmen (TARP) stimulus act of 2011.
Faber is correct.
QE 18 will be implemented in the name of "National Security". This will be during the Hyper-Inflationary Depression of course.
Successive QE will be checks in the mail or entries into every bank account.
Listen to Marc explain this in the lecture he gave to the Mises Institute in early 2010 months in front of QE2
http://www.youtube.com/watch?v=H0sS6a9RW2E
go ahead 14 mins in
Where's Harry Wanger! He's kicked the crap out of most of our resident geniuses by picking stocks using the tried-and-true "throw darts" method.
Wall Street is laughing its ass off at ZH. Time to get back to work, serfs!
Someone has blog envy... Did the mean old management at Moody's deny your vacation time again?
And Tyler is looking for more gloom and doom to keep the readership numbers up. How many articles on NFP today? The over/under is five.
Teh internets is a big place, and you are certainly free to go elsewhere, Mr. Rearless Fick.
Ha, ha, you're so funny and clever, switching the fist letters on my name. Think I'll hang out here and disrupt the scary "Fight Club" loonies until I set a new record for junks. Government wins, losers!
Come on, punch me, bitchez!
sigh. another legless vagina scraping across the carpet.
You're here reading so he must be doing something right, you government troll.
Obama can quickly improve the job situation by starting a really big war. A military draft will instantly take unemployment to zero. First you start by keeping any wars remaining from prior administrations going. Next you start a little war for oil somewhere and tell everyone it's for humanitarian reasons........
Wouldn't it be cheaper in the long run just to give everyone in the US $1,000,000, tax it at 90%, and let everyone pay off their unsecured debt or buy 50 inch plasma screen TVs?
Unfortunatly, 50" plasmas would cost $200,000 if that event were to take place. :(
Here's my idea: Hang CONgress in Times Square and send corrupt CEO's to the Ivory Coast w/ the shirts on their backs and a shovel.
NP just print jobs
Who knows, QE is stopped, crash, bonds go up, rates are raised, PIMCO and the Chinese jump back in, zero sum game, but the end of the world is averted.
Then again the USA may participate in Yentervention XXL QE "Fukushima Edition" afterwards and the little wallowing Euro-PIIGies printathon.
I don't know nothing about no employment problems. What I do know is that the criminal syndicate Wall Street whipping boys must be doing a very poor job of making more very "special" algorithms purchase shares of Apple, the world's largest maker of zombies.
It is as if someone walked into Duncan Niederauer little secret closet and said, "Computer...end program Zombie...and Earl Grey, hot!"
Someone should co locate Jordi quickly, and make sure the KG60 modulator is still working in the holodeck NYSE.
Their downgrade to market perform could begin to weigh more in days to come.
Was that the way to treat America's darling and #1 producer of non-inflationary foodstuffs ?
As one well known mind control propaganda puppet says, "keep on dancing till the world ends!"
Over: 7 articles related to NFP. Number of typos in headlines: 2. TD needs to add +1 to the NFP data by hiring a proofreader.
Now, where's that CogDis guy? Zero Hedge readers are suffering from CD by not believing that government can create statistics to "match the policy." Now where did we hear that term before?
Winning the future fuckers.
Jobs 2012
The sycophants at HuffPo are in engaged a triumphant mass delusion, a veritable Keynesian victory orgy.
I want out.
Ha, as if anybody with the money to hire or invest wants to create jobs...
US Must REPORT 245,500 Jobs A Month To Return To December 2007 Employment Rate By End Of Obama Second Term
There....all better.
Oh good grief! Brother boiler...you forgot to say "computer."
Get a room over at the Roach Motel [SPY], embrace the algorithm, unpack, and grab a free cocktail down in the lounge. Be the criminal syndicate Wall Street banker inside of you!
"Computer...run diagnostic on crew member boilermaker. Report."
The old canard of "lies repeated often enough become the truth" is beginning to lose its relevancy as even the HS dropouts check their empty pockets and exclaim WTF!
Look for more illegal drugs to flood the market at lower prices to keep the sheeple medicated.
"Hope and change" morphs to "high and broke".
A square has 3 sides if I'm allowed to repeat it enough times.
Signed,
Goebbles.
Don't forget about what a "job" means in this day and age. It certainty does not necessarily mean a living wage for a single person. In the 60's-70's, a household could live off the wages of one earner, while the wife took care of the family (a harder job). Today it takes the whole house running on hamster wheels, if it is lucky enough to have two wage earners. What is a "job" anymore? Don't fool yourself. The monthly bean counting via the BLS has not shown the structural decline in employment in this Republic in decades, nor shall it ever render a trustworthy reflection of the real employment despair across this once great land. Look to your new Job G-d - Immelt - on the ticket with Bloomberg in 2016. Obama will get his second term, especially after he brings back the gold standard (lite) - XDR, or Hillary will have him Vince Fostered.
Another in an endless slew of WTF moments. One things for sure, I picked the wrong year to quit smoking...
Looks like I picked the wrong year to quit sniffing glue...
I really think this is doable. A couple revisions here, throw out a couple people there and all of a sudden you are at 5% unemployment. I know its crazy, but when the numbers cease to yield any meaning, all is possible.
Bye Bye BOzo, and all your goofy academic pals. One-termer for sure. Ten years from now The Economist will run a "Remember Obama?" issue. By then he'll be teaching a course no one attends at Harvard Law School. It will be called "The Politics of Defeat".
And this is NOT survey divergence.
http://www.gallup.com/poll/127538/Workforce-Weekly.aspx
For all you skeptics: over 100k new minimum wage waiter and waitress jobs were created last month: this economy is rolling!
Aint gonna happen........states are in dire condition....Texas MAY cut 100,000 teachers... ....education cuts around the country will be massive. Americans will finally wake up and ask "where is the money".......
The reality is that as more and more of the unemployeed hit the 99 week they will be dropped from the data thus "backing in" to a much lower unemployment rate
We just need to create more healthcare jobs under Obamacare. More regulation means more jobs in compliance and management. High paying jobs to make sure all the forms are filled out.
Listen up everyone: get sick, increase health employment. Start vomiting. These employment reports should be able to kickstart the economy.
actually the current US private health system is a nightmare of forms and beauracracy, a single-payer system would save billions but of course people love them their current insurance! All the high-priced pills I want for my diabeeetes!
Find the problem and get rid of it and healthcare costs will go down, but leave it alone and costs will continue to climb...it's not the system's fault, it's those who mess around with the system.
The problem is the insurance companies' anti-trust exemptions under the McCarran-Ferguson Act. They made a pass at that during the healthcare debate, but it was sold off at the last minute in exchange for votes that the Democrats didn't end up needing anyway.
Jobs ! ? Did someone say the word 'jobs' ! ? What a crock of shit. According to Professor Michael Hudson of U of Missouri, the government (powers that be) WANTS to reduce the U.S. workforce by 20% ! ...... more stinking $8/hour jobs where we work behind cash registers selling things ! MALINVESTMENTS. 30 years worth of malinvestments to clear out. Jobs market has collapsed a few years go, housing market is next, then, we go into a currency collapse & from there we head straight for a total collapse of the UNITED STATES of AMERICA. Decisions at the very top of government & Wall St. has put the American Citizen where they are today.......... when the hell does the revolution start ! & sign me up !
Isn't it upwards of 21% now when you stop fucking around with numbers and take "people that aren't working" as a whole? Instead of "underemployed" and "unemployed" and "partially employed" and then you have the "sad unemployed" and the "poorer unemployed" and the "silly unemployed"
God. You really can't make this shit up can you? It feels like we should just keep the calendar at April 1st for the rest of the year because this shit's hilarious.