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Foodstamps Surge By Most In One Year To New All Time Record, In Delayed Release

Tyler Durden's picture




 

While there had been speculation that the BLS may delay the release of its October nonfarm payroll number until after the election, it turned out there was no reason to worry. Perhaps this is because the number, while at stall speed, was not quite as horrible as some had expected (even if the change in average hourly earnings did tumble to new all time lows) and so boosted Obama's reelection chances. There was, however, another closely tracked number which perhaps is far more indicative of the economic "growth" in the past 4 years, which certainly had a delayed release. The number of course is that showing how many Americans are on foodstamps, and usually is released at the end of the month, or the first day or two of the next month. This time the USDA delayed its release nine days past the semi-official deadline, far past the election, and until Friday night to report August foodstamp data. One glance at the number reveals why: at 47.1 million, this was not only a new all time record, but the monthly increase of 420,947 from July was the biggest monthly increase in one year. One can see why a reported surge in foodstamps ahead of the elections is something the USDA, and the administration may not have been too keen on disclosing.

Foodstamps at the household level also rose to a record 22.685 million:

Finally, going back to the start of the official start of the depression in December 2007. In the 57 months from then until August 2012, there have been 4.6 million jobs lost even as Americans on foodstamps and disability have risen by 21.2 million.

And the same shown on a monthly basis:

Delay explained.

Source: USDA and SSA

 

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Sat, 11/10/2012 - 22:06 | 2969006 Kprime
Kprime's picture

I am one year ahead of you.  Sold my buisness, filed for food stamps and medicad, growing a gardena and raising my own food.  sam gets no taxes from my effort but I am on the obama gravy train doing my part to crash the system.

Sat, 11/10/2012 - 11:57 | 2967619 RSloane
RSloane's picture

Vilsack, the Sec of Agri, said:  "I should point out, when you talk about the SNAP program or the foot stamp program, you have to recognize that it's also an economic stimulus. Every dollar of SNAP benefits generates $1.84 in the economy in terms of economic activity. If people are able to buy a little more in the grocery store, someone has to stock it, package it, shelve it, process it, ship it. All of those are jobs. It's the most direct stimulus you can get in the economy during these tough times."

We're rich! Rich I tell you --- or rather, Vilsack does.

Sat, 11/10/2012 - 12:00 | 2967625 Pool Shark
Pool Shark's picture

 

 

And if those grocery customers get mad at the higher prices and start breaking windows - we'll all be BILLIONAIRES!

 

Sat, 11/10/2012 - 12:02 | 2967628 RSloane
RSloane's picture

Broken windows and food stamps... Our GDP will skyrocket~!

Sat, 11/10/2012 - 12:09 | 2967640 a growing concern
a growing concern's picture

Krugman just came at the thought.

Sat, 11/10/2012 - 12:04 | 2967632 vast-dom
vast-dom's picture

yo now i'm convinced i gotta get me one of them EBT cards. it my duty as citizen to stimulateate da economee!

Sat, 11/10/2012 - 12:06 | 2967637 Pool Shark
Pool Shark's picture

 

 

Sure. To get one; just call your local DHS office on your Obamaphone...

 

Sat, 11/10/2012 - 12:14 | 2967646 nmewn
nmewn's picture

Everbudy roun here got ObowmaPhone!!!

Sat, 11/10/2012 - 12:56 | 2967662 vast-dom
vast-dom's picture

ObamaEBTfood + ObamaPhone = Hope and Change!

That's Hope and Change you can feed off of!

Sat, 11/10/2012 - 16:01 | 2968250 imbrbing
imbrbing's picture

Because ObamaCare(s)!

Sat, 11/10/2012 - 18:20 | 2968589 willwork4food
willwork4food's picture

Free Freedom Beer!

Sat, 11/10/2012 - 21:19 | 2968924 knukles
knukles's picture

ObamaDon'tCare tm

Sat, 11/10/2012 - 12:50 | 2967720 JPM Hater001
JPM Hater001's picture

I predict a bush era stimulus check setting the whole mad world in a tailspin as $10K checks are issued to the people expecting them to pay off debt in lieu of a full Jubilee...they buy guns instead.

Full Debt Jubilee Just Ahead

Followed by civil war.

Sat, 11/10/2012 - 18:11 | 2968566 flaunt
flaunt's picture

Buy SWHC and RGR.

Sat, 11/10/2012 - 15:36 | 2968172 zerozulu
zerozulu's picture

Put rest of the nation on this stimulus.

Sat, 11/10/2012 - 16:50 | 2968375 hooligan2009
hooligan2009's picture

sick sick sick...someone tell vilsack that the recipient gets only 20cents worth for every dollar allocated by the government because 80 cents is spent on packaging.

Sat, 11/10/2012 - 18:09 | 2968559 flaunt
flaunt's picture

God damn idiots.  It's more of a zero-sum game than anything.  The person who can buy more because of government assistance helps drive up prices and keeps another person from being able to buy as much.  I'd wager you move less product under that scenario rather than more.  Central planners are the problem.

Sat, 11/10/2012 - 11:57 | 2967620 dwdollar
dwdollar's picture

It's all about food. As long as your belly is full your genetics tell you not to rebel.

Sat, 11/10/2012 - 12:27 | 2967673 Rainman
Sat, 11/10/2012 - 12:51 | 2967723 PlausibleDenial
PlausibleDenial's picture

I was a the post office yesterday buying stamps using the automatic stamp dispenser.  When paying I noticed that there was a selection for EBT cards.  So, EBT cards are good for buying stamps.  Can you eat stamps???  Talk about a ponzi....

Sat, 11/10/2012 - 13:41 | 2967831 CrockettAlmanac.com
CrockettAlmanac.com's picture

Fiscally challenged philatelists need a hand up too.

Sat, 11/10/2012 - 17:36 | 2968481 Cathartes Aura
Cathartes Aura's picture

I may be wrong, but "EBT" cards can include unemployment or SS?  and the JPMSnap cards are for food purchases only?

of course, facts aren't really necessary when you're having a rousing good two-minute hate!

as you all were.

Sat, 11/10/2012 - 17:56 | 2968532 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

when you're having a rousing good two-minute hate!

as you all were.

 

And now that you're here we can keep right at it. 

Sat, 11/10/2012 - 18:43 | 2968642 Cathartes Aura
Cathartes Aura's picture

I know!!

get your bros together dude, have at it!!

yer welcome.

Sat, 11/10/2012 - 11:59 | 2967624 Conman
Conman's picture

Thanks Bernanke! You made this possible.

Sat, 11/10/2012 - 12:03 | 2967633 malikai
malikai's picture

He didn't do that.

Somebody else helped make that possible.

Sat, 11/10/2012 - 12:07 | 2967638 Pool Shark
Pool Shark's picture

 

 

You mean he didn't spend that?

Sat, 11/10/2012 - 12:11 | 2967642 a growing concern
a growing concern's picture

He didn't conjur up those 1s and 0s out of thin air to purchase US Treasuries to keep the massively listing USS Titanic afloat for just a few moments more.  Someone else did that.

Sat, 11/10/2012 - 12:14 | 2967647 malikai
malikai's picture

There is more than one pirate on this ship.

Sat, 11/10/2012 - 12:20 | 2967659 Enslavethechild...
EnslavethechildrenforBen's picture

Honestly, do you really think that there is even one foreign country that does not print hundred dollar bills?

Sat, 11/10/2012 - 13:50 | 2967862 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

 

 

You people can watch while I'm scrubbing these floors
And I'm scrubbin' the floors while you're gawking
Maybe once ya tip me and it makes ya feel swell
In this crummy Southern town, in this crummy old hotel
But you'll never guess to who you're talkin'.
No. You couldn't ever guess to who you're talkin'.
Then one night there's a scream in the night
And you'll wonder who could that have been
And you see me kinda grinnin' while I'm scrubbin'
And you say, "What's she got to grin?"
I'll tell you.

There's a ship, the black freighter
with a skull on its masthead
will be coming in.

By noontime the dock is a-swarmin' with men
comin' out from the ghostly freighter
They move in the shadows where no one can see
And they're chainin' up people and they're bringin' em to me
askin' me, "Kill them NOW, or LATER?"
Askin' ME! "Kill them now, or later?"
Noon by the clock
and so still by the dock
You can hear a foghorn miles away
And in that quiet of death
I'll say, "Right now.
Right now!"
Then they'll pile up the bodies
And I'll say,
"That'll learn ya!"

 

And the ship, the black freighter
disappears out to sea
And on it is me.

 

English version:

http://www.youtube.com/watch?v=aFP3x4bKpZE

 

Auf Deutsche.

http://www.youtube.com/watch?v=Ec0clERjQ5A

Sat, 11/10/2012 - 12:01 | 2967626 flacorps
flacorps's picture

For the middle class the coupon deals have gotten ridiculous and I know it's a twofer because the newspaper industry is being propped up by couponers who get a dozen Sunday papers ... Make that a fourfer for the paper and forestry industries...

Sat, 11/10/2012 - 12:28 | 2967674 New_Meat
New_Meat's picture

Yep, Gatehouse Media, Inc. is splattering Eastern Mass with freebie Sunday editions of e.g. Patriot Ledger, Brocton Enterprise, et al.  I wonder if they are doing that in other areas.

'cuz gotta' keep up the circulation numbers, otherwise the ad revenue goes South and poof!

- Ned

Sat, 11/10/2012 - 12:03 | 2967630 QE49er
QE49er's picture

The Climatic Symphony of Destruction of the west.

Sat, 11/10/2012 - 12:13 | 2967644 ghostzapper
ghostzapper's picture

I still am amazed the majority of people keep paying their mortgage.  Especially now with QEinfinity aimed at MBS.  Shalom is telling the world he will buy the toxic MBS from the boys so why would someone pay their mortgage if Ben's got your back.

Sun, 11/11/2012 - 01:18 | 2969243 aphlaque_duck
aphlaque_duck's picture

My wife quit paying the note on her upside-down condo and we've collected $20K in rental income so far that was otherwise met with $20K of mortgage. And bernank keeps printing money so we were able to up the rent significantly the last time it turned over.

Sat, 11/10/2012 - 12:15 | 2967649 max2205
max2205's picture

Yawn, call me when it hits 100 million.

My Obama phone # is 1-800- who gives a shit

Sat, 11/10/2012 - 12:18 | 2967653 Essential Nexus
Essential Nexus's picture

I see strong technical resistance at about 300 million.

Sat, 11/10/2012 - 12:27 | 2967672 dwdollar
dwdollar's picture

Not necessarily. Fraud could push us well past that number.

Sat, 11/10/2012 - 13:27 | 2967783 lolmao500
lolmao500's picture

After vote early and vote often... eat early and eat often. Imagine all the economic activity in restaurants, food producers and of course health care industry when all these fat slobs have heart attacks or diabetes?? GENIUS!

Sat, 11/10/2012 - 18:26 | 2968598 flaunt
flaunt's picture

After that they can start signing up foreigners.

Sat, 11/10/2012 - 13:36 | 2967807 JustObserving
JustObserving's picture

Gerard Depardieu can take himself and his piss to Belgium:

"Legendary French actor Gérard Depardieu caused quite a scene on an airplane Tuesday night by urinating in the cabin in front of his fellow passengers after the crew told him he had to wait to use the toilet, according to multiple reports. "

http://www.people.com/people/article/0,,20519658,00.html

Sat, 11/10/2012 - 12:20 | 2967658 IridiumRebel
IridiumRebel's picture

Fuck it. I'm signing up for them being as everyone else in the fucking country has them. Let's ride this donkey until it breaks a leg.

Sat, 11/10/2012 - 12:21 | 2967660 New_Meat
New_Meat's picture

"One can see why a reported surge in foodstamps ahead of the elections is something the USDA, and the administration may not have been too keen on disclosing."

Boeing et al. suppressing their layoff announcements, SeeBS suppressing both the admission that it wasn't a stupid internet video, before it was, now it isn't (but don't tell the Pakz, might make Hillary look bad), Petraeus scandal held in the pocket until after (but I'm with Ralph Peters on this timing), and we don't know what else is lurking out there.

I wonder when GW will examine the number of registered voters in various precincts vs. the number of votes cast? oh, nvm

- Ned

Sat, 11/10/2012 - 13:06 | 2967746 nmewn
nmewn's picture

More than just Boeing my friend...a partial list...

Energizer -

The St. Louis-based company said Thursday that it expects to shed about 1,500 employees. When finished, the restructuring should lead to $200 million in pretax yearly savings, Energizer said. It aims to have most of its restructuring steps finished by the end of September 2014.

Westinghouse -

Westinghouse Anniston, the contractor responsible for shutting down Anniston’s chemical weapons incinerator, has reduced its workforce by another 50 employees.

Research in Motion Limited -

Research in Motion Ltd., the maker of BlackBerry smartphones, laid off about 200 people at its U.S. headquarters in Irving on Wednesday, according to a source close to the company who did not want to be named.

Lightyear Network Solutions -

More than one dozen employees at a Pikeville company lost their jobs this week. Officials with Lightyear Network Solutions said they are consolidating offices in Louisville and Pikeville to save money.

Providence Journal -

The Providence Journal Co. laid off 23 full-time workers Wednesday as part of a cost-cutting effort, including 16 members of the Providence Newspaper Guild and 7 non-union employees.

Hawker Beechcraft -

The company says 240 employees will lose their jobs with the closing of Hawker Beechcraft Services facilities in Little Rock, Ark.; Mesa, Ariz.; and San Antonio, Texas.

http://coffeeandsleeplessnights.wordpress.com/2012/11/09/layoffs-since-the-election/

Sat, 11/10/2012 - 17:13 | 2968421 New_Meat
New_Meat's picture

how do you spell suenam, no, sunami, no,

dang, Tidal Wave!  (that's the trick)

- Ned

Sat, 11/10/2012 - 12:25 | 2967666 Monetative Easing
Monetative Easing's picture

One area of growth for the west over the past few years has been the increasing number of citizens who require some form of governmental support.  Sadly, like other trends that preceded and directly influnced this one (easy credit, suburban sprawl etc), this isn't sustainable either.  

Sat, 11/10/2012 - 12:25 | 2967667 hooligan2009
hooligan2009's picture

why has the amount per household dropped from 295 to 277 (drop of 18 bucks)?

anyway, 47.1 million people (22,385 million households) on foodstamps at c. $133 per person (277 per household) per month each = the odd $75 billion a year or $1.5 billion a week.

that is the modern soup kitchen. how well could the government feed these people if it prepared food instead of vouchers to prevent abuse? i am guessing around 20% of the welfare is spent on non-food (displacing other bills) and another 20% is spent on junk food making people obese and unhealthy (thank you mickey d's).

the other number..i am trying to get my head round how food stamp usage of up 21.2 million correlates with NFP of 4.6 million. does this mean that 16.5 million people have had pay cuts taking them into poverty?

i am trying to get the number of hours worked in total and the total earnings (excluding bonuses from FIRE) for the economy over the same period. with the BLS now via doug short and the st louis fed. i have a feeling that number of hours worked is down 5% in five years and earnings are down another 3-5%. that would explain some of the disparity in the NFP and SNAP trends.

Sat, 11/10/2012 - 17:48 | 2968515 Cathartes Aura
Cathartes Aura's picture

good to see someone actually trying to understand the numbers.

know this: the electronic pixels that slide through the machines via plastic, all of them are propping up the corporations who are credited with them.

those who benefit from each swipe include the bankers, the corporate fud-stores, the gas stations, and anyone else who provides a service for their imaginary pixelated e-con-o'-me.

oh, and those who need an excuse to hate others via team spirit post-voting embeds. . .

Wed, 11/14/2012 - 09:17 | 2979337 hooligan2009
hooligan2009's picture

update..i have an acknowledgement email form the BLS!

Tue, 11/20/2012 - 05:48 | 2998155 hooligan2009
hooligan2009's picture

update..the BLS have replied with worksheets that provide number of hours and number of employed per calendar year for the 25 years to 31 december 2011. h/t 

Division Major Sector Productivity

 

2 Massachusetts Ave NE 

Washington DC 20212-0001 

202.691.5613  fax 202.691.5664

Bottom line for me is that almost none of the population growth since 2000 has found its way into employment and that the current top 2 sectors are government and health care which, when combined, increased their share of total employment from 17% during CY 1987, to 19% in 2000 and to 22% in 2010. The total number of hours worked for these two sectors increased from 20% to 21% to 25% for the same calendar years. Let me repeat: in 2010 (and 2011), fully one quarter of all work done in the US, is done by the government and the hospital sector. 47 million food stampers are 15% of the total population and are just under 40% (37%) of the 126 million people not employed. It looks like employment is holding up well in retail and hospitality (accomodation and food services) to keep these two (government and health) monsters fed. Aside from Mining (2342 hours a year), Utilities (2198 hours) and Food Manufacturing (2086, the US Government's 40 hour a week, 2080 hours a year makes it the longest hours worked per year of all the 23 sectors. Really? Every Federal Employee works 40 hours a week?

Sat, 11/10/2012 - 12:26 | 2967669 Atomizer
Atomizer's picture

Chapter - It's Free Swipe Yo EBT

 

No further commentary needed..

Sat, 11/10/2012 - 13:53 | 2967867 mvsjcl
mvsjcl's picture

I really see that as satire. But, man, there may be others who see that as gospel. Great God Almighty, truely scary.

Sat, 11/10/2012 - 17:26 | 2967953 Atomizer
Atomizer's picture

She created that as satire to expose the system.

 

Why do you think the Sandra Fluke message went viral?

Sat, 11/10/2012 - 12:27 | 2967671 Seasmoke
Seasmoke's picture

The BLS got the election all wrong......They should have got these numbers out as soon as possible and increased the as HIGH as possible....this would have HELPED Obama crush Romney....BAD NEWS IS GOOD NEWS !!!!!

Sat, 11/10/2012 - 12:31 | 2967682 U4 eee aaa
U4 eee aaa's picture

We need to look on the bright side. With all these food stamps in circulation, the post office should turn a profit this year! WOOOO HOOO!

Sat, 11/10/2012 - 13:58 | 2967885 mvsjcl
mvsjcl's picture

No "stamps," but I get your drift. All electronic. These "cards" only deal a winning hand to JPM.

Sun, 11/11/2012 - 17:43 | 2970712 spooz
spooz's picture

They were designed to fight fraud, in that electronic records makes for easier detection.  Of course, the gub found a way to take care of some croneys, why let a bill go to waste?  Big Ag got a boost from the safety net (crop insurance subsidies) by lumping their corporate pork in with SNAP funding, so why not give the banksters a favor too?

Sat, 11/10/2012 - 12:31 | 2967685 yogibear
yogibear's picture

Should hit 50 million plus very soon! 

The process of shifting from a republic to a socialized state takes time. The Unions of Socialzed America is being created.

Bailouts of California and Illinois not too far ahead.

 

 

Sat, 11/10/2012 - 12:33 | 2967689 bigkansas
Sat, 11/10/2012 - 12:35 | 2967691 jplotinus
jplotinus's picture

Too bad the fly over states Romney won were insufficient. I'm sure he would have put a stop to this nonsense of providing food stamps in ever greater numbers. :-/

By the way, has anyone drilled down into the distribution of food stamps data? Does anyone know what region of the country, blue states or fly over states, has the higher % of food stamp use?

Just ax-in

Sat, 11/10/2012 - 12:44 | 2967707 bigkansas
Sat, 11/10/2012 - 13:23 | 2967776 hooligan2009
hooligan2009's picture

i wa going to say, you have got to be shitting me 20% in some states? wtf! but somehow that did not seem contextually appropriate!

Sat, 11/10/2012 - 14:22 | 2967947 Jena
Jena's picture

California is under 10%?  No wonder Jerry Brown wants to increase taxes here.  We must be able to afford to pay moar.

Sat, 11/10/2012 - 15:07 | 2968085 yogibear
yogibear's picture

Jerry Brown can gradually include all of Mexico and stick the California people making over $250,000 with the taxbill.

The voters just approved...

It's the liberal policy on steroids.

  1. Voters approved Proposition 30 "temporarily" increasing the state sales tax and income tax on individuals making over $250,000.
  2. They voted against Proposition 31 that would allow the governor to cut the budget in fiscal emergencies.
  3. They voted against Proposition 32 would prevent unions from making campaign donations via members' dues.

Any business that can move out of the state should do so now, otherwise you will be taxed to death!

Sat, 11/10/2012 - 14:01 | 2967891 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

Too bad the fly over states Romney won were insufficient. I'm sure he would have put a stop to this nonsense of providing food stamps in ever greater numbers. :-/

By the way, has anyone drilled down into the distribution of food stamps data? Does anyone know what region of the country, blue states or fly over states, has the higher % of food stamp use?

 

Yeah, because if more victims of current federal economic policy reside in the fly over states that proves that red necks are bad.

Sat, 11/10/2012 - 12:44 | 2967706 jplotinus
jplotinus's picture

"I still am amazed the majority of people keep paying their mortgage. Especially now with QEinfinity aimed at MBS. Shalom is telling the world he will buy the toxic MBS from the boys so why would someone pay their mortgage if Ben's got your back."

I think the ultimate resolution of the housing crisis might well include a debt jubilee. Not only is the Fed relieving the TBTF banks of toxic MBS to the astonishing tune of $40billion/month, world without end, amen, that form of welfare carries no stigma here at good ol' ZH!

Furthermore, the underlying mortgages are tainted with fraud. The fact is, many people have a perfectly legal right to stop paying a legally invalided mortgage. TBTF banks committed fraud, bitchez.

Deal with it

Sat, 11/10/2012 - 12:56 | 2967730 Pool Shark
Pool Shark's picture

 

 

"...that form of welfare carries no stigma here at good ol' ZH!"

WTF?

Sat, 11/10/2012 - 14:02 | 2967899 CrockettAlmanac.com
CrockettAlmanac.com's picture

I wonder if he even knows what planet he's on?

Sat, 11/10/2012 - 21:17 | 2968918 are we there yet
are we there yet's picture

Reminds me of a joke. If you want to get back on your feet, miss a few car payments. Technically federal income taxes are not constitutional but dont recomend you skip them either. So, stop paying a mortgage and eventurally something unplesant will happen to you.

Sat, 11/10/2012 - 12:51 | 2967722 lolmao500
lolmao500's picture

While Texas, Missouri and Louisiana are trying to secede... good luck to them I say.

Sat, 11/10/2012 - 13:01 | 2967735 nmewn
nmewn's picture

Missouri too?

I sent Tyler the links to Texas & Louisiana this morning...good thing ObaMao got a mandate...or sumpin ;-)

Sat, 11/10/2012 - 14:45 | 2968021 Miss Expectations
Miss Expectations's picture

The New Confederacy!

Sat, 11/10/2012 - 14:53 | 2968042 lolmao500
lolmao500's picture

But this time, they have nukes.

Just secede and tell Washington DC if it tries anything, DC and Wall Street are gonna be vaporized.

Sat, 11/10/2012 - 15:58 | 2968236 Miss Expectations
Miss Expectations's picture

I wish to change the name to:  The Constitutional Confederacy  (Cue the racist attacks, like the tea bag attacks, like the occupy attacks.)

This is in consideration of the new Lincoln movie which seems to be about how the Civil War was about freeing the slaves when it was really about states rights.

 

Sat, 11/10/2012 - 17:57 | 2968535 Cathartes Aura
Cathartes Aura's picture

with the food stamp use by state link kindly provided above:

http://chartsbin.com/view/1403

Texas, Missouri & Louisiana have some weaning off the tit to attend to before they leave the nest.

buy hey, I'd vote for 'em to get out of Uncle Sam's basement and make a go on their own!

Sat, 11/10/2012 - 15:39 | 2968185 hawk nation
hawk nation's picture

Hope so so indiana can also join the new union 

Sat, 11/10/2012 - 13:27 | 2967785 JustObserving
JustObserving's picture

No state can secede now. Their share of the US debt will be just too large and their rating will be junk. Everyone is a slave to US debt now.

 

Sat, 11/10/2012 - 13:28 | 2967789 lolmao500
lolmao500's picture

Tell the creditors to go screw themselves.

Sat, 11/10/2012 - 18:50 | 2968655 sessinpo
sessinpo's picture

Actually any state can. Texas can leave any time. Look it up. Texas actually signed a treaty.

Sat, 11/10/2012 - 15:39 | 2968189 saints51
saints51's picture

I signed it. I don't expect much from signing it. If it would cause an issue I expect a gift card from the federal reserve to be quiet at my local Wal-Mart.

 

If we can leave I would be happy. I don't care if our credit is junked. Who really gives a fuck about credit. Credit is a bad word. My family and community will be fine. Armed farmers and fishermen. The city folks would likely be bait.  I am dreaming again........

Sat, 11/10/2012 - 12:56 | 2967725 Insideher Trading
Insideher Trading's picture

Altruism is the worst evil.

'Murica is a foregone conclusion where entrepreneurship, creativity, and the desire to want more for ones self has been sacrificed for socialism. Quite disturbing to say the least.

I know how this story ends, I hope I'm not around when it does.

Sat, 11/10/2012 - 12:58 | 2967734 Flakmeister
Flakmeister's picture

Ayn, is that you croaking from the grave?

Sat, 11/10/2012 - 14:07 | 2967912 CrockettAlmanac.com
CrockettAlmanac.com's picture

Flakmeister, is that you shilling for JPM?

Sun, 11/11/2012 - 11:40 | 2969859 Flakmeister
Flakmeister's picture

A wonderful example of your twisted logic Wormtongue....

Only you could connect someone pointing out the obvious Randian aspects of a post with an attempt to shill for JPM....

No wonder the Libertarians and minarchists simply do not get it....

Sun, 11/11/2012 - 12:23 | 2969954 CrockettAlmanac.com
CrockettAlmanac.com's picture

Only you could look at the real world which is staring you in face and claim that your fantasies have more substance.

 

J.P. Morgan's Food Stamp Monopoly: The More Americans That Fall Into Poverty The More Money Jamie Dimon Makes
Sat, 11/10/2012 - 14:59 | 2968058 Ricky Bobby
Ricky Bobby's picture

 Felix Dzerzhinsky is that you croaking from the grave.

Sun, 11/11/2012 - 11:47 | 2969877 Flakmeister
Flakmeister's picture

Nyet, nyet, soviet...

 

Sun, 11/11/2012 - 02:52 | 2969296 TWSceptic
TWSceptic's picture

Actually altruism doesn't even exist. It's a made up state for some people to hide the fact that everything humans do has a selfish motive (and there is nothing wrong with that, it's how we survive, evolve and improve).

Sat, 11/10/2012 - 13:01 | 2967738 AU5K
AU5K's picture

Did anyone see exit polls on who food stampers voted for?  Has to be 80/20. 

 

More stampers = more democratic voters.  Really think the democrats want the economy to improve...

Sun, 11/11/2012 - 07:43 | 2969427 Moe Howard
Moe Howard's picture

Obamao got 108% of the votes of registered voters in this Ohio county:

 

http://frontpagemag.com/2012/dgreenfield/voter-fraud-obama-won-%108-of-registered-voters-in-ohio-county/

Even Saddam couldn't pull that off.

Sat, 11/10/2012 - 18:14 | 2968574 RmcAZ
RmcAZ's picture

This. I tell my friends and family that we will never see a president or other representatives voted in again who do not support welfare. They think i'm full of shit. As long as the proportion of voters who are receiving benefits is greater than 45-50% or so, then we will keep getting more Obamas being voted in. It's simple really.

At least, until everything collapses.

Sat, 11/10/2012 - 22:50 | 2969076 spooz
spooz's picture

Oh, please.  All the Republicans had to do was come up with a suitable candidate to defeat an incumbant with the highest unemployment rate since FDR.

And what exactly do you think Obama did with welfare that is so different than what Bush was doing?  Since welfare reform in 1996 it has been up to the states to run their welfare programs, and anyone seeking cash assistance has faced strict work requirements and a five-year lifetime limit. The benefits are not generous and living in poverty isn't pretty.

 

Sat, 11/10/2012 - 18:17 | 2968582 Cathartes Aura
Cathartes Aura's picture

well, if you believe the States food stamps charts are accurate, you might extrapolate. . .

map voting by state:   http://www.270towin.com/

map food stamps by state:  http://chartsbin.com/view/1403

weirdly, the "red" seems to show up in the same states for both charts. . .

 

Sat, 11/10/2012 - 13:02 | 2967740 lolmao500
lolmao500's picture

47.1 million on food stamps + 1.8 million federal employees + 19.6 million state/local employees = 68.5 million.... some of them are probably counted twice...  Obama got 61 million votes...

Figure it out.

Sat, 11/10/2012 - 14:09 | 2967917 hooligan2009
hooligan2009's picture

dont forget congress is in the trough too, plus all its aides and the spin doctors/lobby groups..that takes another couple of million..i wonder if any goverment employees are on food stamps too (part timers?).

Sat, 11/10/2012 - 15:19 | 2968120 spooz
spooz's picture

47.1 million on food stamps, highest unemployment rate for an incumbent to get reelected since FDR, a lame DOJ that gave us no bankster perp walks, expansion of the War on Terror and police state, and all the Republicans can come up with to take him on is a flip-flopping plutocrat.  Almost like the duopoly fix was in.

Sat, 11/10/2012 - 13:03 | 2967741 tooriskytoinvest
tooriskytoinvest's picture

LIQUOR rationning is  coming to NJ!! One hurricane and NJ is back to third world status. LOL!

http://www.nypost.com/p/news/local/painful_last_call_XAdaU5EuBCh24HyypGA5pK

Craigslist Ads Gouge Storm Victims: $700/Night Outrage!

http://www.newser.com/story/156955/craigslist-ads-gouge-storm-victims-700night.html

Are Markets And Macro Repeating 2008? Gerald Celente (100% Accurate Economic Forcaster) Predicts: Economy TOAST After Obama Reelection And Gold Will Rise To Even More Ridiculously High Prices.

http://investmentwatchblog.com/are-markets-and-macro-repeating-2008-gerald-celente-100-accurate-economic-forcaster-predicts-economy-toast-after-obama-reelection-and-gold-will-rise-to-even-more-ridiculously-high-prices/

 

Sat, 11/10/2012 - 13:38 | 2967822 mkhs
mkhs's picture

Uhhhh, when wasn't it?

Sat, 11/10/2012 - 13:06 | 2967745 orangegeek
orangegeek's picture

Barry's headed for a catfight with the house.

Sat, 11/10/2012 - 13:18 | 2967764 Conchy Joe
Conchy Joe's picture

Guarantees a one party system from now on - food, health, homes all owned by the government.

More than 1/3 with jobs work for the state, fed, city, etc. so they in fact don't produce more than they cost.

Then there are those at the other end of the spectrum - the uber rich that want to see this system continue.

 

The rest - we will all be paying for it - as wage slaves or foot soldiers.

Sat, 11/10/2012 - 13:20 | 2967769 AgShaman
AgShaman's picture

The Ministry of Plenty has an endless supply to keep the 'proles' fat, dumb, and satiated

Sat, 11/10/2012 - 15:06 | 2968082 unununium
unununium's picture

You got that right.  At $75B total program cost in 2011, SNAP is cheaper than 2 months of QE3 bond purchases to keep criminal banks afloat.

Sat, 11/10/2012 - 13:22 | 2967773 you strawman talking
you strawman talking's picture

Every dollar in Food Stamps adds $1.84 to the economy.

The new normal.

@inspiracy_truth

 

www.inspiracytruth.com

Sat, 11/10/2012 - 13:33 | 2967801 Conchy Joe
Conchy Joe's picture

Seems like it should "add" more than that - admin costs must be 10% -15%, the costs of the actual cards and distribution probobly another 2-3%, processing another 10-15%, the value of the sale counted at 100%, the "jobs created" at the vendor another 50-100%, then since they didn't have to spend that dollar on food - another dollare to be spent elsewhere in the economy.

Factor in the time savings for the people that use them - now they can be more productive looking for a job or otherwise bettering the world we live in - and subtracting out the original dollar and using government math - it should be closer to the $3.00 range.

Sat, 11/10/2012 - 15:16 | 2968111 hawk nation
hawk nation's picture

I respectfully disagree since this is a government program the administration cost are probably 30% or more

I have no data to support this statement other than observation of anything the gov does

Sun, 11/11/2012 - 11:28 | 2969829 Common_Cents22
Common_Cents22's picture

every shit I take adds to the economy too.    Employs several in water treatment plants, toilet paper makers, toilet makers, air freshener makers, bathroom fan makers....i should get a subsidy for every shit i take.

Sat, 11/10/2012 - 13:59 | 2967845 Atomizer
Atomizer's picture

easy pleasy

 

Worthless tiger fiat is used to place bets on physiological society needs vs. radical democracy changes by forming an ideal moneychanger utopia. :0 

Everlast - Ends

Sat, 11/10/2012 - 13:52 | 2967865 dolph9
dolph9's picture

Well at this point it's all about avoiding riots.  I suspect this will go on for some time.

You have to understand the American way...bomb or impoverish the whole world so we can have cheese doodles.  

Who the fuck cares about some schmuck in Greece or Spain?  Just keep our own fatties and ghetto dwellers well fed and lumbering through the grocery stores.

Sat, 11/10/2012 - 14:36 | 2967988 jplotinus
jplotinus's picture

"While Texas, Missouri and Louisiana are trying to secede... good luck to them I say."

The fly-over states, including the 3 mentioned above, may well be sufficiently different from the blue states to justify unopposed, nay, encouraged, secession. Go, and gods bless.

Perhaps their new name should be:

Jaysusstan

Sat, 11/10/2012 - 14:44 | 2968020 TheLastMan
TheLastMan's picture

Oh, Snap!

Sat, 11/10/2012 - 14:54 | 2968046 j-dub
j-dub's picture

The scariest thing about that statistic is that in 4 to 8 years, it won't have any effect on a national election.

Sat, 11/10/2012 - 15:12 | 2968105 Bansters-in-my-...
Bansters-in-my- feces's picture

Repeat after me....
The Goverment is NOT my friend.
The goverment Lies,cheats and steals.
The Goverment can NOT be trusted.

There....now you get the picture.

Sat, 11/10/2012 - 15:17 | 2968114 MFLTucson
MFLTucson's picture

Just disgraceful, I fucking hate this.

Sat, 11/10/2012 - 15:17 | 2968116 Ostapuk Ivano
Ostapuk Ivano's picture

Why do I even work anymore? I sometimes think that about how much time I would have to do the things I want to do if I just quit my job and went on full welfare.

Sat, 11/10/2012 - 22:28 | 2968134 spooz
spooz's picture

Yeah, the poor have it real good.  I'd look into the facts and figures REAL CLOSE before you give up your job. The poverty rate for an individual is $11,170 and $23,050 for a family of four. Since welfare reform in 1996, its run by the states and available primarily to families with children, elderly and disabled, and has time limits and requirements for job seeking and training.

Here's one welfare mom's story:

http://everydayfeminism.com/2012/09/im-a-welfare-mom/

Sat, 11/10/2012 - 15:30 | 2968150 max2205
max2205's picture

Try it, you'll like it. But take the blue pill everyday

Sat, 11/10/2012 - 16:09 | 2968266 resurger
resurger's picture

yeah! Same here.

Sat, 11/10/2012 - 15:27 | 2968142 yogibear
yogibear's picture

Illinois and Califoria are becoming more socialist by the day.

Both states will tax the mofo out of businesses to pay for ever increasing pensions and benefits.

Sat, 11/10/2012 - 15:30 | 2968152 Tango in the Blight
Tango in the Blight's picture

I AM ENTITLED! WHERE'S MY WELFARE CHECK AND MY OBAMAPHONE?

http://www.youtube.com/watch?v=J-21JSJkRcw

 

Sat, 11/10/2012 - 16:09 | 2968265 resurger
resurger's picture

i want to be entitled too.. am sick of working, iwant some of that free QE

Sun, 11/11/2012 - 11:25 | 2969817 thomasincincy
thomasincincy's picture

7 up arrows and such a cloudy vision... while the "cracker" "redneck" still chanting nigger this nigger that and living in a trailer in the middle of the sticks collecting welfare themselves...jesus..lol 

http://en.wikipedia.org/wiki/Slavery_in_the_United_States

Sat, 11/10/2012 - 16:10 | 2968267 cherry picker
cherry picker's picture

I'd rather see food stamps than people going hungry, however...there are many who are on it because they can get it, not because they really need it.

They can sell vehicles and other things, downsize housing if they need.  When bad times occur, adjustments have to me made for survival.  The problem is, in today's world no one wants to sacrifice anything for their own well being.  How many middle income workers' taxes does it take to support the unnecessary food stamp program, money they earned and could probably use themselves?

Sat, 11/10/2012 - 16:25 | 2968305 spooz
spooz's picture

Part time, no benefits jobs don't leave a lot of room to cut.  A lot of people have already given up on cars if they can and are already living with roommates.  These are individuals making less than $11,170 per year. Also, an increasing number of college students who work at least 20 hours and go to school full time receive benefits, which reduces their debt slightly.

I care more about the corporate subsidies, like the increased ones Big Ag gets with the same farm bill that seeks to reduce food stamps.  Why should the safety net be lumped together with corporate pork?

http://www.appetiteforprofit.com/2012/06/12/farm-bill-jackpot-how-much-d...

 

Sat, 11/10/2012 - 16:57 | 2968361 slackrabbit
slackrabbit's picture

 

People say there wasn't hope and change, but there was.

Previously people Changed their underwear, now they just Hope they will, because they cant even afford Wal-Mart prices.

When folks pray 'Hope and Change'....Always stay up wind!

 

Sat, 11/10/2012 - 16:46 | 2968364 Peter Pan
Peter Pan's picture

Romney spoke of the 47% who don't pay taxes and now we also have 47 million food stamp recipients. On top of that the deficit over the last few years has been running at a pace of $47 billion per working day and the President was 47 when he was elected president 4 years ago. Now all we need is unemployment to go to 47% and the pattern will be complete.

 

Sun, 11/11/2012 - 11:30 | 2969837 Common_Cents22
Common_Cents22's picture

obama wont be done til everything is 57, to match his 57 states.

Sat, 11/10/2012 - 16:55 | 2968377 Jack Burton
Jack Burton's picture

Food Stamps? What are they good for? Why do they even exist?

American has had a financial crisis due to years of dubious financial engineering by bankers, wall-street speculators, hedge funds and all the clients they serve. This added to a nation's long road to deindustrialize it's economy by using cheaper foreign labor, both skilled and unskilled. Added to that has been a decade of wars unfunded by tax revenues, but instead put on the national debt, not one penny of these wars and military buildups has been paid for. These three things taken together have crashed the US economy and also led to unrestrained government spending and unrestrained government borrowing.

Food Stamp use is simply a reflection of the collapsed low and lower middle class economy. The solution to the economic and fiscal crisis are simple, but nobody dares begin the process to solve it.

begin by. Stopping unfunded wars, and reduce military spending to what can be funded by tax revenues.

Reduce Social Security payments to all, and means test them to take off the rolls the highest income earners.

Eliminate Medicare and especially medicaid. People will seek their own insurnce on the free market. Eliminate medicare taxes so people can use that to buy insurance.

Eliminate food stamps, flood insurance, crop subsidies and other direct payments to citizens. They will adjust.

Lower taxes on the capital gains, eliminate corporate taxes. These will produce jobs.

 To begin to pay down the deficit, taxes should be raised across the board only after a flat tax has been instituted.  Pick a number, but every living soul will pay a flat percentage of their income from wages. Investment income should be tax free as this is investment in job creation.

Reduce unemployment insurance to 10 weeks to get people to look for work. The wages will be acceptable no matter how low if people have no choice to sit for 2 years and collect payouts for doing nothing.

Raise retirement age to 70. This will free up money to reduce the deficit.

This is a start. If this makes the little people angry, you just need to remind them WHY they ARE little people. We must not waste a good crisis. The welfare state will be ended, and the workfare state begun.

Lastly, raise the standards for disability claims. SS is flooded with lazy people seeking to go on disability payments. This is probably the fastest growing job clasification in the country.

End financial regulations, end environmental regulations. These are job killers and liberal hoaxes designed to give a socialist government power over business.

Give some thought to closing down congress, and let the corporations decide for themselves how they will manage and rule the nation. They create the jobs and thus should have the power to rule. Democracy has nothing to do with job creation as such.

The liberals and takers will either work for the pay they deserve in the free market or starve. This is ordained by god as the way society should be governed.

Sat, 11/10/2012 - 17:10 | 2968414 hooligan2009
hooligan2009's picture

its a start..i vote a 35% flat tax rate and a cut of sa third in all spending programmes until debt to gdp is at 40%.

Sat, 11/10/2012 - 17:20 | 2968443 spooz
spooz's picture

Sorry, but I'm not willing to trust the "free" markets with my health care, and neither does the rest of the developed world.

With the increasing inequality and the continued extraction of wealth from our economy by plutocrats, a safety net has never been more important.

After the Libor and Muni Bond rigging, Corzine/MF Global, JPM's whale, Goldman Sach's muppet baiting, high frequency trade abuse, the markets have lost all integrity, and your answer is to end financial regulations?

Big Ag is ruining our environment with their row crops and toxic herbicides in the current system and you say we should have even less environmental regulation?

You're vision of a plutocracy is certainly not what the majority want, but we may get it anyways since the corporate masters and global elites are working to get us there.

Sat, 11/10/2012 - 18:18 | 2968584 dark pools of soros
dark pools of soros's picture

the drive is any CAUSE to allow extraction of taxpayer money through that CAUSE into corporate hands.   Foreign aid ends up in Lockheed Martin and Halliburton, food stamps ends up in Wal-Mart and JPMorgan, etc

 

 

Sat, 11/10/2012 - 18:57 | 2968670 Cathartes Aura
Cathartes Aura's picture

and medicare ends up in corporate pharma's deep pockets, etc.

the people are merely the conduit, or the taxed base funds, as per usual.

only shallow thinking, divide and rule, believe otherwise.

Sun, 11/11/2012 - 01:33 | 2969256 Oh regional Indian
Oh regional Indian's picture

Yo, CA, when are you going to leave Ummmmerikka again? Eh?

I think it's about that time of year/life! 

On a relatedish note, I'm readyign to leave India again. :-) i've had it witht he Commonwealth.

ori

Sun, 11/11/2012 - 01:53 | 2969271 Cathartes Aura
Cathartes Aura's picture

ha, well remembered.  no decisions while that Mercury rolls *backwards* - but I've plenty of ideas lined up, sure.

neptune direct tonight/tomorrow, that's going to bring some stealthy things to light of day, but mercury going retro on "election day" - from sag truths to scorpio deceptions, and back out again, a persephone quest - I'm guessing there will be blood, and it's due before the Dec new moon (dg that merc retro'd at revisited with the secrets out'd, you'll catch my drift)

not surprised you're itching to move, but the question remains, at this time in "history" where does one go but within?

best wishes!

Sun, 11/11/2012 - 02:18 | 2969284 Oh regional Indian
Oh regional Indian's picture

I know. Strange days. I was shocked with the easy roll-over from Roomba and the Rupubli Cans. I said it that day, it does not feel like it's over....yet. But stranger thigns have happened.

As for me, old cycles are closing, fast. Good stuff. Feel free to get in touch if called. I'd like to dive a bit.

The signal I got was south of the Eq. The with-in is constant.

Meanwhile, watch this:

 

Everyone, this was 1984. Done AND dusted. India too...

http://www.youtube.com/watch?v=y3qkf3bajd4

Best all around, we need it.

ori

Sat, 11/10/2012 - 18:25 | 2968597 FeralSerf
FeralSerf's picture

"Eliminate medicare taxes so people can use that to buy insurance."

 Insurance companies will not sell affordable insurance to anyone that actually has a health problem like cancer, heart disease, old age, etc.  It's unprofitable.  They prefer to sell insurance to those that are unlikely to have any claims.

Sat, 11/10/2012 - 18:53 | 2968660 Whoa Dammit
Whoa Dammit's picture

"Food Stamps? What are they good for? "

They pay for a lot of really nice cutting horses for Ann Walton (Walmart). <snark>


Sat, 11/10/2012 - 20:55 | 2968884 willwork4food
willwork4food's picture

All you would have to do, is tell the Fed Central Bank owners to take a hike. Start printing real money backed by the full faith and credit of the US treasury based on PMs , government land, future taxes, school loans and/or hanging all of Congress & the Senate on pay per view.

Problem solved.

Sat, 11/10/2012 - 17:14 | 2968429 q99x2
q99x2's picture

Mandatory ObamaEBT for all Americans. I want my QE in gold Bernanke M'fer.

Santa Barbara International Marathon was perfect today. Over 5,000 runners in the 1/2. I'm sure the full Marathon had a lot more than that but didn't check yet. It was really the best day for running and they had people dressed as bears and kittens. I liked the cat women lady. There were bag pipe players, trumpet players, violin and guitar players. The fighter jets flew over for Veterans day. At roughly $100 a pop they had to pull in over a million dollars.

Sat, 11/10/2012 - 17:20 | 2968442 Joebloinvestor
Joebloinvestor's picture

Food stamps are the next reserve currency.

Sat, 11/10/2012 - 17:25 | 2968452 BattlegroundEur...
BattlegroundEurope2011's picture

Pffft Food is so 2011.

Sat, 11/10/2012 - 17:27 | 2968457 AC_Doctor
AC_Doctor's picture

The free shit for all game will SOON come to a screaching halt when the US bond markets collapse and interest rates skyrocket.   How many of the 52% of takers will die when the freebies stop?  How many will commit suicide at the though of having to go back to work ( SS recipients also ).  It is going to be an ugly event to witness...

 

 

Sat, 11/10/2012 - 17:30 | 2968468 spooz
spooz's picture

Right.  The mythical bond vigilanties.  I'm still waiting four years and 3 QEs later.

And "going back to work"?  More than half of recent college graduates are jobless or unemployed.  Where is all the work?

Sat, 11/10/2012 - 17:35 | 2968475 AC_Doctor
AC_Doctor's picture

Let the takers pick up trash and paint blighted areas to collect a place in the free food lines-no more SNAP bullshit or welfare.  When the interest rate derivatives start to to implode soon, we won't need the bond vigilantes.

Sat, 11/10/2012 - 17:42 | 2968503 spooz
spooz's picture

Like I said.  Four years later, I'm still waiting.  Seems the central banks never run out of tricks; I wouldn't bet against them.

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