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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pods's picture

Your system functions within a bigger, more imprortant system.

If aggregate debt rolls over, the system begins to collapse on itself. A true implosion.

All modern economic theory takes the system for granted.

And we are showing that to be a big mistake.

It is like the rules of playing Risk. They work well for the game.  But if and only if the board is not destroyed by a meteor strike.

pods

Mr Pink's picture

His name is KKKRRRIIIIIIIIIDDDDD........KKKRRRRIIIIIIIIIID ROCK.....BAWWITABA.....

kridkrid's picture

We don't actually print money out of thin air, but you point is still valid. What we do is loan debt money into existence with interest. This is how fractional reserve banking and our monetary system works. We are approaching the end of this cycle.

Titus Flavius Caesar Vespasianus Augustus's picture

"We don't actually print money out of thin air, but you point is still valid. What we do is loan debt money into existence with interest."

The US Treasury prints currency under the direction of the Fed, which is not really a part of the federal government.

When the Fed gives the US treasury newly created {'loaned into existence'} federal reserve notes in exchange for an IOU from the Treasury, ergo taxpayer... this very much is creating money out of thin air.

 

The fed also lends it to banks at virtually no interest, of course, and further checkbook dollars are created by fractional lending, down the line, sure.

 

Point is fiat is, by definition, out of thin air - but it's loaned at interest...  everyone who can't loan money into existence has to work for it or risk their capital.  Capitalism under a fiat/fractional reserve regime robs you of your life, liberty and property.

 

Period.

 

 

FEDbuster's picture

Don't forget to complete the circle jerk.  The FED then kicks most of the interest paid to them by the Treasury back to the Treasury, less a transaction fee.  A dividend is paid to member/owner banks based on the FED's profits.

Perhaps we should call this a "Reacharound Monetization"?

pods's picture

I for one am quite happy that we have been afforded this time to prepare. And the only way for them to give us that time was to keep increasing the debt.

I am pretty cognizant of how things work, and still cannot fathom how bad it would have been if the implsion of 2008 was allowed to continue.

Now for people who are of the mindset that we are going to try and pay off this debt and get back to the system we had, it would seem like this is a terrible plan.
For those who understand this money system and are optimistic that it will implode (because it has to), we have been given ample warning to prepare for a new system.

pods 

Freddie's picture

The Devil is off playing golf in Hawaii. 

F TV and Hollywood who cover for and fawn over this scum.

kridkrid's picture

He's not the devil. He's an errand boy sent by grocery clerks.

lakecity55's picture

".....It was like the jungle was sucking the river backwards, and at the end of the river was o-phone and madness..."

LFMayor's picture

AND WATCH OUT!  Those goddam monkeys bite.

Yes We Can. But Lets Not.'s picture

I read today that the estimate of the number of people droned to death by the errand boy is 2,500...!  Following is an InfoGraphic, with one exclamation point for each of the 2,500 victims...here goes:

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tango's picture

What people don't undestand is something both scary and pathetic.  Obama and his crew actually believe they are doing the right thing, that the "rich" can support a nation on the dole and that debt is preferable to saying "no".  And when it ends in failure like all collectivist ventures, they will say, "At least everyone is equal".  

I just don't get it.  The evidence is overwhelming that central planning does not work, is not sustainable and we are at a dead end and their solution is "more of the same."

pods's picture

Fractional Reserve Currencies do not work.  They are of much more importance than social spending.

Social spending merely helps those at the edges cope with the rising amount of interest in the system.  

The interest is the tumor that kills all debt money systems issued at interest.

There is no solution, that is why they are merely continuing the status quo.

pods

jcaz's picture

Think bigger.

It's not about central planning- it's about Imperialism.

This is how every great political takeover took place- manufacture an unwinnable solution, then step in at the last minute with "the ultimate solution";

Barry is simply a dictator in the making- it's what his handlers aspire this farce to be, and Barry is the puppet.

Yes We Can. But Lets Not.'s picture

The thing is, in political science, in gubmint, there is no double blind study, no proving failure...thus, the collectivists will never accept blame, and in fact will blame others, just as dear leader always does, and the US media complex, comprised 95% of collectivist sympathizers, would in any case never assign blame

earleflorida's picture

@ kridkrid

now, i'm going to be the 'anti-devils' advocate'... 'so we are providing pretend "money" to people to do nothing'

What's wrong with that... ?

let's go back in time, shall we? FDR's time, should be a good starting point. The Great Depression and how it was mismanaged and extended by design? [sound familiar?]

What does FDR do first-- he sets in motion the 'Emergency Banking Act [3/9/1933]'.   Next, Mr. Roosevelt sets in motion the 'Civilian Conservatory Corps [CCC's __ 3/21/1933- *1933-43* __ 18-28yr old males]'.  Lastly, FDelanoR's Administration implements 'Executive Order 6102 [4/5/1933- Gold Confiscation Act]'.  Notice how in sync all these monumental legislative acts came into fruition-- amazing? 

now, i'm going to tie them all together? there is a global war happening, and the year is 1939 [the U.S. enters the war on 12/1941 officially] and soon to be renamed, WWII-- the great war after the greatest war of WWI???

What do you suppose the nefarious intentions of a generous? 'uncle sam'... doling out millions to america's poor youth was? it got millions ready for WWII and the enthusiastic call to arms too show thanks for uncle sam's unfettered generosity. all these kids flocked to the enlistment tents in droves as young as 15yrs, for the chance to say 'thankyou' ... Mr. President!!!

now,... at this moment in time we have millions on the dole-- and guess what? when mr. president, 'calls to arms'... they'll fall over one another too fight for the right to die [in a rich man's war] for their 'pretend' free unemployment checks.

just correlate the past to the present, where troops [only foot drones nee apply?] will certainly be needed in our next vietnam called the 'african continent'? and, as fdr so needed 3 terms?... obi-kenya-nobi-- will at least three-- two? 

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

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

http://en.wikipedia.org/wiki/Executive_Order_6102

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

Ballin D's picture

Thats an interesting thought about having the war in Africa.  Id been thinking about where it would take place.  Itd be really inconvenient to fight it in the civilized world where citizens live but a war that is overseas for everyone (in africa) would be perfect for all of TPTB

Taint Boil's picture

 

 

I’m thinking about blowing up my car so I can save some gas and help the planet too.

francis_sawyer's picture

Affirmative Action Twatzilla...

fuu's picture

<golf clap>

No, Twatzilla was better as a stand alone.

ParkAveFlasher's picture

Yes but think of how many keys on the board that Francis employed with the edit.

francis_sawyer's picture

It's the everpresent dilemma of going for the green, or laying up with the 7-iron...

mr1963's picture

This is what happens when "officials" elected by retards appoint retards to government posts, they make the retards feel wonderful about receiving their subsidies.

Karlus's picture

Wize latina in the hizzouse

/sarc (seems you need this to avoid red arrows)

Jon Bong Jovi's picture

This chick is the labor sec? Damn, I wouldn't trust this bitch to do my taxes.

Raymond K Hessel's picture

I gave him a down arrow so he learns not to fear the red arrows!!!

Karlus's picture

No fear right back at you :)

TPTB_r_TBTF's picture

no, that donT prevent red arrows.  Start with Italics to avoid them.

FL_Conservative's picture

Maybe she's in labor.  That could explain her delusion.  That said, there are some scary characters in the BHO admin.  Not an ounce of gray matter in the entire group.

Karlus's picture

Oh, I suspect they know exactly what they are doing, but its all under the "this is for the best" flag.

 

HarryR is the best for saying what they are doing and accusing others of it. In fact he is a master of the ACME U tube

Banksters's picture

A new job is coming

“We cannot continue to rely on our military in order to achieve the national security objectives that we’ve set. We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well-funded.”

Barak Obama

http://www.youtube.com/watch?v=_fO-usAlqak

Karlus's picture

Who do you suppose these would be? Hobos and unemployed people to be in Barack's army?

 

I wish them the best in combat. They will need those rounds HomeLandSec bought

koncaswatch's picture

Another Prez EO constitutional circumvention: you bet, "private" security forces like Iraq.

Karlus's picture

Defeated with a pallet of poisoned MD 20/20. Perhaps a claymore rigged bottle of Thunderbird wine or Air Force Ones?

FoeHammer's picture

Hobo wine does a number on the body and spirit.

Aurora Ex Machina's picture

Uploaded in 2008. Like many other things, (*cough* Hope and Change *cough*) looks like it didn't get implemented.

 

Or rather, you got the continuation of Bushes' TSA, which is a curious mixture of the Keystone Kops and Robocop.

ebworthen's picture

Paying people not to work is little different than bailing out failed companies, banks that gamble with FDIC insured deposits, insurers that use premiums to gamble in deriviatives, and the FED buying Mortgage Backed Securities.  Using government logic they should pay everyone not to work and double the monthly payments.

Beam Me Up Scotty's picture

At the very least, these so called "unemployed" should be required to dig ditches, and then fill them back in again.  They should do something for that dollar they just got for free.

insanelysane's picture

We pay people to be unemployed and then complain that the nation's infrastructure is falling apart.  The truth, is that we pay the "unemployable" to stay out of the way and just be consumers.  Sort of like the kids' hamsters.

Karlus's picture

Actually it seems Americans have figured out an even better luxury for the populace. They have devised a way to have things without the need to work.

Like the movie Wall-E but with the Chinese playing the part of robots

:(

MillionDollarBoner_'s picture

Yeah, but digging ditches interferes with shopping for iStuff...:O(

When you don't gets out of bed til noons, there aints many hours left in the days...

Cognitive Dissonance's picture

From the sublime to the stupid.

<Stupid is as stupid does.>

Hype Alert's picture

Her answers are pathetic as expected, but the stupid leading questions by the MSM are just as bad.  Where are the adults?

Karlus's picture

You already know that if you ask her questions that are "off message" you dont get invited back.

Up next "Hilda, what is your favorite color, and why?" or "Hilda, do you get sad sometimes when it rains?"

NotApplicable's picture

Extinct, apparently, thanks to more than a century of government schooling. It's weird how I can remember growing up surrounded by old people that were actually reasonably mature. Today? It's rare when I meet anyone who doesn't have a completely childish outlook on life, regardless of age.

Childhood has basically been extended from cradle to grave, as the Nanny-state has temporarily suspended the universal law known as "Stupid Should Hurt." Anytime you wonder how anyone could be so dumb, remember that it's what got them to where they are today, so why not tomorrow?

shovelhead's picture

Add to the fact that the left side of the bellcurve breed far more than the right side

of the IQ scale and it's no small wonder at the result.

We subsidize stupidity instead of nature taking it's toll.

Grandpa learned to read and write Greek and Latin in a village one room schoolhouse before he went to college.

Today we have multi-million dollar schools that can't teach proper English spelling.

They don't have enough money...

ejmoosa's picture

Slowly coming back?  The rate of improvement was less in 2012 than 2011, and we have not even had the impact of ObamaCare.

 

http://www.blogtalkradio.com/ejmoosa/2013/01/04/test-show-day-1

kliguy38's picture

Watched it live this am and just had to laugh at how pathetic she is a spokesperson for the cartel......reminds me of how pathetic Geithner is as a face/salesman......THATS THE BEST YOU BASTARDS CAN DO? Just pathetic.