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Hilda Solis: Paying People Not To Work Saved Millions Of Jobs

Tyler Durden's picture




 

Secretary of Labor Hilda Solis made her ubiquitous post-NFP appearance on CNBC this morning and spouted the usual propaganda. However, while discussing how wonderful the ATRA was, the seemingly slap-happy Solis noted how great the fact that emergency unemployment benefits were extended for millions of people was - and that thanks to that (and the magic of the Keynesian multiplier), millions of jobs were saved. So, to sum up, paying people not to work, saved millions and millions of jobs? Indeed America, indeed.

 

Must Watch from 3:00 onwards, she stumbles and shakes her head when pushed on the question of how many jobs we lost due to fiscal cliff uncertainty (no idea - none she believes) and then the money-shot on the unemployed and saving millions of small business jobs...

 

 

"By the movement that the President did [in ATRA negotiations] we saved millions of jobs"

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Fri, 01/04/2013 - 14:05 | 3122803 azzhatter
azzhatter's picture

Kind of giddy- she must have just got done sucking off Obama

Fri, 01/04/2013 - 14:09 | 3122834 ebworthen
ebworthen's picture

I think he has some boys for that.

She probably just gone done baking cookies with Michelle.

Fri, 01/04/2013 - 14:17 | 3122898 Snakeeyes
Snakeeyes's picture

Hildabeast, there are 28,705,000 disabled workers in the USA.  How is this a good thing??????????

http://confoundedinterest.wordpress.com/2013/01/03/pork-salad-harry-mill...

Fri, 01/04/2013 - 14:24 | 3122928 Stoploss
Stoploss's picture

Im worried if we all go to Belize, it will tip over and we will all drown.

Fri, 01/04/2013 - 14:48 | 3123044 The Juggernaut
The Juggernaut's picture

F-U-C-K in the USSA!

Fri, 01/04/2013 - 14:58 | 3123092 economics9698
economics9698's picture

For those not familiar the multiplier was developed by a Keynes protégé Richard Kahn.  It states that $1 spend will result in $2 in economic activity as the money changes hands in the economy.

The problem is when the government spends money they have to borrow, tax, or print the money from the private productive sector to the unproductive public sector.  This is why stimulus programs always fail; they create job losses not gains.

To cure unemployment labor needs to be cheaper.  Eliminating the minimum wage and payroll taxes would create millions of jobs, and a overall increase in the standard of living, for everyone.

These economic myths espoused by the labor secretary are believed by the dull of mind and unquestioning drones but make no mistake the top 0.01% understand fully and completely they are propaganda designed to confuse the public about the subject of economics, and more importantly banking.

It’s the old European gypsy rip off, create confusion and a diversion for the mark with children and commotion, while the adult sneaks up from behind and steals the wallet or purse.

Banking and politics is the same.  Crate a bunch of economic buffoonery to confuse the peasants while the masters steal all they want.

This lady is of low IQ and believes this shit. 

Fri, 01/04/2013 - 15:00 | 3123102 redpill
redpill's picture

Let's go break some windows and get this recovery moving!  Forward!

Fri, 01/04/2013 - 15:41 | 3123353 FEDbuster
FEDbuster's picture

Obama can send me a $1,000,000 per month check, direct deposit it or put it on a pre-paid visa card, I promise here and now to spend the entire amount each and every month.  I will do my best to buy only items made in the USA.  I will not save or hoard any of the credits given to me.

Fri, 01/04/2013 - 15:51 | 3123407 economics9698
economics9698's picture

If Obama gave me that deal I would change, you bet.

Fri, 01/04/2013 - 15:54 | 3123429 FEDbuster
FEDbuster's picture

It's amazing what three extra zeros on a number can do.

Fri, 01/04/2013 - 20:32 | 3124282 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Proud Latino Logic

Sat, 01/05/2013 - 12:30 | 3125198 trav777
trav777's picture

yeah, she's a "wise latina" like sotomayor, right?

Thank GOD for diversity and affirmative action.  The further we collectively get away from the UTTER HELL that the bygone America was, like from before the Civil Rights Act (<1950s), the better.  The US back then was a complete hellhole chock full of poorly-mannered, uncivilized, unhappy, immoral people.

Fri, 01/04/2013 - 15:53 | 3123418 cosmyccowboy
cosmyccowboy's picture

me too, i promise to spend every penny of it as soon as i get it.... at the coin shop!

 

Fri, 01/04/2013 - 15:34 | 3123305 Professor Fate
Professor Fate's picture

That brand of economics is usually associated with 3 pecan shells, a pea and a pair of quick hands.

"Push the Button, Max"

Fate the Magnificent

Fri, 01/04/2013 - 15:37 | 3123320 MachoMan
MachoMan's picture

So you're telling me that stopping the money spigot and forcing welfare queens, government retirees, disability hounds, et al to go into the work force for minimum wage/less than minimum wage would yield an overall increase in the standard of living for these folks?  Really?  I could see plenty of arguments for doing so...  but increasing the standard of living from the present seems...  patently impossible...  hence why it is so desperately demanded (thus prolonging change).

Fri, 01/04/2013 - 15:41 | 3123354 economics9698
economics9698's picture

There is always winners and losers, the bottom line is more people working, more product produced, more product consumed.

Fri, 01/04/2013 - 17:14 | 3123808 MachoMan
MachoMan's picture

Possibly in an academic vacuum...  but I fail to see how the standard of living increases for industrialized/western (rich) countries when the world pie is shrinking and the wealthy countries have already peaked as far as prosperity...  population saturation...  resource depletion...  This is, in part, why people are avoiding the avalanche...  it's one thing to swallow one's pride and take the plunge, knowing full well that you'll be just fine and dandy on the other side through hard work, ingenuity, and a "can do" attitude.  However, predicting the future (at present) is incredibly complicated...  there are so many different facets converging that any semblance of "comfort" in decision making is...  long gone.

Fri, 01/04/2013 - 18:34 | 3124063 jumbo maverick
jumbo maverick's picture

Everything depends upon, from ones perspective, what the standard of living is. I suspect that you are basing standard of living in monetary terms only.
Look at this from a different perspective. You know people on welfare? I know lots and lots of them. Often times their lives are so shitty that they can't barley function. Everything is a crisis to them. The Obama phone ain't. charged up so it must be the end of the world, that's exactly how a lot of them think.
So if we were to take all the welfare people and they HAD to work, even if it was a minimum wage job in my opinion their standard of living would go up. They may not make as much money but other aspects of their lives would improve drastically. I don't think humans are wired to just sit idle and watch Maury Povich all day.
Before Christmas the family went out to a tree farm like we always do to get a tree. We get on the wagon which is being pulled by two gargantuan draft horses. Now it's raining out and cold and its just miserable weather but the horses love it. They don't know it but they have a purpose in life. They could be sitting in a warm barn all day and night but I think they would be miserable.
When the Irish immigrants built the Erie Canal they were paid mostly in whiskey. They didn't make any money. They worked damed hard with basic hand tools. They had a purpose in life. Hard work is good for people. Hard work is good for the human race. I betcha if you looked at all the work histories of the people that have committed mass shootings you would find that they have had sporadic, chaotic employment histories or they have never worked at all. We are encouraging an army of ill tempered, ill mannered Jaba the Hut humans that have no purpose. Jaba the Hut had a poor standard of living I bet he couldn't even fuck.

Fri, 01/04/2013 - 18:43 | 3124080 akak
akak's picture

If you paid close attention, the unhappy, bloated, sluglike, disagreeable, wormlike Jabba the Hut was also a banker (or the Tattooine equivalent).

Of couse, I am sure that was just a coincidence.

Sat, 01/05/2013 - 03:56 | 3124803 S5936
S5936's picture

BINGO !

Sat, 01/05/2013 - 03:56 | 3124804 S5936
S5936's picture

BINGO !

Sat, 01/05/2013 - 12:31 | 3125199 trav777
trav777's picture

YOU BEEZ RAYCISS...or somethin.

Sun, 01/06/2013 - 00:01 | 3126461 WTFUD
WTFUD's picture

. .no. . great BJ hands free for the mexican wave and she dont spit.

Fri, 01/04/2013 - 15:39 | 3123333 Slightly Insane
Slightly Insane's picture

economics9698 - you are astute.  The "bimbo" probably has an IQ of 75, as anyone with a higher intelligence quotient would have to know this is all bullcrap, hence, they would likely be part of the "propaganda team", sent in to keep the ruse going.  Eventually, even the idiots will get it, but by that time they will have been assimilated into the machine to the extent that fear will rule their every move.

Remember when they say Forward, they really mean Backwards.  Up is Down, Right is Wrong, and Left is Right.

Sat, 01/05/2013 - 12:33 | 3125205 trav777
trav777's picture

you sound like a white man, so HOW DARE YOU deign to question a WISE LATINA on anything?

Haven't you figured out yet that her latinaness makes her simply too deep, wise, real, noble, and progressive for your neandarthal white male brain to possibly comprehend.  therefore, you are a racist.

Fri, 01/04/2013 - 17:35 | 3123871 goldfish1
goldfish1's picture

"This lady is of low IQ and believes this shit."

She's hispanic so she gets a free pass.

Fri, 01/04/2013 - 17:42 | 3123915 goldfish1
goldfish1's picture

It takes work to get unemployment benefits.

Clearly it's those jobs she saved.

Sat, 01/05/2013 - 12:37 | 3125208 trav777
trav777's picture

Racist.

We NEED more of people like her so we can turn into Mexico.  Only then will goodness break out instead of this evil, oppressive white culture.  Mexico is so much better than this white country in all ways...I mean it's rich and vibrant and all of that.

The culture before mass immigration and the coddling of minorities was simply evil and boorish.  Things like powered flight and the transistor and space programs have no place in a progressive rich and vibrant culture and we must rid ourselves of people who disagree.

I was in Africa last week...there was just something realer and deeper and nobler and wiser about having to worry about contracting serious infectious diseases from contact with the water supply that I cannot believe someone could be so racist as to not want to be like that here.

Sat, 01/05/2013 - 11:48 | 3125147 DanDaley
DanDaley's picture

Only 2 possibilities with people like this:Agressively naive, or viciously opportunistic, but she has a furrowed brow, so she at least looks sincere.

Fri, 01/04/2013 - 15:34 | 3123289 ACP
ACP's picture

Speaking of the USSA, one of Obama's propaganda outlets, the NYT, makes light of the fact that Comrade Pelosi had a photo doctored before release:

http://thecaucus.blogs.nytimes.com/2013/01/03/a-group-photo-as-the-ranks...

Notice the difference in tone from their story about a doctored photo from China:

http://thelede.blogs.nytimes.com/2011/06/30/china-admits-officials-canno...

 

Apparently, fake photos are OK when the Politburo descides that the "proper people" are using them.

Fri, 01/04/2013 - 15:51 | 3123409 FEDbuster
FEDbuster's picture

and not ok when being used against them:

http://1.bp.blogspot.com/-muSP39qdc7Y/TwDMO8BHEmI/AAAAAAAApnM/59sbcHXt8t...

http://www.moonbattery.com/archives/nancy_pelosi.jpg

(warning don't look after eating or while drinking)

Fri, 01/04/2013 - 16:48 | 3123689 Titus Flavius C...
Titus Flavius Caesar Vespasianus Augustus's picture

I love The Exploited!!!

 

https://www.youtube.com/watch?v=HPfeTBwrGAw

 

Sat, 01/05/2013 - 00:25 | 3124651 Money Squid
Money Squid's picture

"Im worried if we all go to Belize, it will tip over and we will all drown."

 

Rep. Hank Johnson is that you?

Sat, 01/05/2013 - 11:50 | 3125139 DanDaley
DanDaley's picture

Look, it's Guam that will tip over (http://www.youtube.com/watch?v=zNZczIgVXjg); Belize will merely sink.

Fri, 01/04/2013 - 14:52 | 3123056 pods
pods's picture

I hope that "baking cookies" is not a euphemism.

pods

Fri, 01/04/2013 - 15:09 | 3123147 HomeBrewPrepper
HomeBrewPrepper's picture

Bullish!!!

Sat, 01/05/2013 - 06:50 | 3124897 Tom_333
Tom_333's picture

Actually she is right. According to theory a (non-existing) dollar spent by government does increase the GDP.One of the fastest ways of boosting GDP is to go into debt and start different "programs" where you dole out said non-existing dollar.Since that GDP number is seen as important and goes into different other formulas,estimates and benchmarks - this is a great racket.

Indebt the hardworking middle class - dole out the dole (thus simply buying yourself the votes you need from here to infinity) - and in the process create a great lifestyle for yourself.

The fun part of it is that Hilda Solis is right and the average ZH contributor is wrong.

Economy in theory or just ordinary common sense and thrift just can´t compete with this new reality.I think that there´s more help found in history.May I suggest you quit looking for an economic theory that may explain all this and take up study of history instead.Maybe ...Rome.There´s a number interesting thoughts on the topic of "clientism".The very thing you can observe going on right now 2013 A.D.

Fri, 01/04/2013 - 14:07 | 3122808 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Lol
Friday humor at its best.

Fri, 01/04/2013 - 14:22 | 3122923 Winston Churchill
Winston Churchill's picture

How much tax money is going to pay for this twat.

No wonder the BLS cannot find its ass with both hands.

Fish rot from the head.

Fri, 01/04/2013 - 15:04 | 3123119 rodocostarica
rodocostarica's picture

Base salary 199K

Fri, 01/04/2013 - 15:08 | 3123140 economics9698
economics9698's picture

Twat, what a blast from the past.  A fuckign great word if there ever was one.

Fri, 01/04/2013 - 15:21 | 3123231 TedBagwell
TedBagwell's picture

Twat squat, not to be confused with T-Bag

Fri, 01/04/2013 - 14:25 | 3122941 kridkrid
kridkrid's picture

I'll take the Devil's advocate position, just for fun. So we are providing pretend "money" to people to do nothing. The govt didn't increase taxes to pay that pretend money, they sold treasuries to TBTF banks who buy said treasuries so that they can pretend to have tier one reserves on their books so that they can loan money into existence. Those non workers are spending the pretend "money" because people still accept pretend money.

I mean is she really wrong? If those people didn't have pretend money to spend, they wouldn't have spent the pretend money, right? That's gotta be good for some jobs saved, no? And if the govt didn't need to sell treasuries, the banks would be insolvent, not just in reality, but for real reality. Within the context of our absurd system, what she claims isn't really that absurd. Of course, she doesn't understand this, but her banking overlords do.

Fri, 01/04/2013 - 14:29 | 3122962 Karlus
Karlus's picture

Not trying to be rude, but I am suprised that I have to explain this to you.

Its a straight up transfer payment. From people with purchasing power to these "unemployed." So while theoretically you "saved" jobs, you did it by robbing holders of USD (House of Saud and the Chinese)

If you are a liberal, this is a-ok with you because you robbed "da Man"

If you work for a living or saved money this is bogus

Fri, 01/04/2013 - 14:40 | 3123008 kridkrid
kridkrid's picture

It's a transfer payment from whom? Like I said, they didn't raise taxes to transfer this wealth, they borrowed, kind of or in a manner of speaking. Now you could argue that this is a transfer payment from future generations, but to assume that, you would have to assume that this debt will be paid off. It won't because it can't. You aren't being rude to me, you just don't understand how debt money works. You are making an argument based on what seems logical to you. Our monetary system is not logical, at least not logical in the sense that it is fair or right or somehow moral. It's ok though, because as they say, the end is near. As others say, hedge accordingly.

Fri, 01/04/2013 - 14:57 | 3123086 LasVegasDave
LasVegasDave's picture

printing money out of thin air is debasement of the currency, which is essentially counterfeiting.

In a saner age this would have been punishable by death.

Fri, 01/04/2013 - 15:08 | 3123139 Raymond K Hessel
Raymond K Hessel's picture

As much as it is counterfeiting, it is also robbing purchasing power from people who save and invest.  In a debasement, the returns on your investments and your savings (think pensioners, not institutional investors) can't keep up with the inflation rate.  

Fri, 01/04/2013 - 15:12 | 3123163 economics9698
economics9698's picture

kird government borrows, taxes, or prints.  None of these activities creates jobs or wealth because, generally, government spending results in a loss of 55 cents on the dollar because they have no incentive to spend wisely. 

Fri, 01/04/2013 - 15:25 | 3123247 kridkrid
kridkrid's picture

The name is krid :-)

You can't see the forest for the trees. The point of spending is not for productivity... Not now anyways. Govt has to spend because aggregate debt must increase in our monetary system. Consumers are tapped out, corporations are tapped out, this is backfill for a credit market that has peaked.

Fri, 01/04/2013 - 15:47 | 3123388 economics9698
economics9698's picture

When there is a recession the government should spend less not more.

Y = C + I - G + NX. 

Government is a burden; lighten the load when the economy is weak.

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