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Where Did All The Jobs Go?

Tyler Durden's picture




 

Over the last decade, the economy (and implicitly the jobs of US citizens) have suffered significant swings. The chart below, however, clarifies exactly where the 'missing' jobs have gone (and with a slight silver-lining) where we have gained jobs. As is clear, the Oil & Gas industry has seen its total number of employees rise over 40% in the last ten years - while Manufacturing and Construction industries have each lost around 20% of the total employees.

Of course, net net, given the precipitous drop in labor force participation, the US is losing the 'employed' dramatically over this period as the incentive (as we noted here) to work and demand for work (in a cost-cutting ZIRP environment) remain negligible.

 

 

While the boom in Oil & Gas jobs that is so clear in the chart above, it would appear that whether through regulation, market pricing, or 'over-fishing' the growth in rig-counts (as proxied by Baker Hughes below and noted by Reuters late last year) is now falling year-over-year (though well counts are rising) - it seems we need another 'price' boom in Oil and NatGas to get things going again - but of course that will hurt the consumer and implicitly the mainstay of the US economy.

 

and in case it was not clear where all those jobs went (if not swallowed up by productivity enhancing robots) - the following chart should make things clear (over 200 years of manufacturing shifts around the world)...

 

Charts: Goldman Sachs and Bloomberg

 

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Sat, 01/19/2013 - 17:09 | 3169445 rtalcott
rtalcott's picture

jobs is dead.

Sat, 01/19/2013 - 17:55 | 3169533 Future Jim
Sat, 01/19/2013 - 18:09 | 3169555 Xibalba
Xibalba's picture

Jobs cost profits, and the only 'citizens' that matter are corporations my friend. 

Sat, 01/19/2013 - 18:41 | 3169578 Future Jim
Future Jim's picture

It sounds like you agree that there has been no recovery, and that the media were thus wrong to credit Obama with a recovery that did not exist, but where you differ is that you are under the impression that Obama knows just what to do to fix the economy, and you feel that those evil corporations just won't let him.

You state that "jobs cost profits", so you must not want to raise taxes on corporations, so just how would Obama fix the economy? Are you aware that he had an unprecedented filibuster proof majority for a while? are you aware that most jobs increase profits? Would you hire someone who cost you more than he produced?

Sat, 01/19/2013 - 18:51 | 3169617 Enslavethechild...
EnslavethechildrenforBen's picture

Obama says to say thanks for all your homes and businesses he foreclosod on! Suckers!

Sat, 01/19/2013 - 19:05 | 3169649 Raymond K Hessel
Raymond K Hessel's picture

It's for articles like these that I read ZeroHedge.  Very nice, guys.   

Sat, 01/19/2013 - 20:35 | 3169776 AldousHuxley
AldousHuxley's picture

illegal aliens

 

 

 

Sat, 01/19/2013 - 22:03 | 3169896 j0nx
j0nx's picture

Yup. 10-30 million illegals here from various estimates. Assuming EVERY American over the age of 18 and under 65 is looking for a job right now, which is ridiculous due to various reasons, then according to 2012 US census estimates illegal aliens are stealing 5-15% of American workers' jobs depending on whether you believe there are 10 or 30 million of them here since there are approximately 198 million Americans between age 18-65. Personally I think the amount of illegals here is somewhere in the middle of that number. It's a comfortable bet that at least 15% of American jobs are stolen by these cretins every year while dumbshits like whoever the guy was that downvoted you refuses to believe that. And once again, that's assuming that all 198 million Americans are looking for work. This means that in actuality the percentage of jobs that illegals are stealing may be in fact quite a big larger. Also, throw in the fact that they commit crimes, overcrowd, gentrify existing neighborhoods and cultures and basically overwhelm the social safety net and it's treasonous that even a single American politician is even entertaining the idea of legalizing these people when Americans are out of work and languishing under a real UE rate of 16% or higher. 16%...hmmm why does that number ring a bell again?...The math don't lie bitches.

Sat, 01/19/2013 - 22:34 | 3169969 rhinoblitzing
rhinoblitzing's picture

What about all the money being wired and sent "back home" that leaves the US borders and internal economy???? Never a mention in the MSM or anywhere. (even here..)

Also - watch the MSM when they talk about illegal aliens... they show people picking cabbage in the fields as if it's 1960 and Cesar Chavez is still on his soap box.... Let's see the real numbers of illegals taking real jobs (and seats at College) from US born Americans let alone naturalized citizens that waited in line properly.

H1B Visas... displacing US tech workers with cheap immigrant labor, as theyt infiltrate management (same way they infiltrate the stateus dept) and bring in more of the same. In this case Bill Gates is a documented violator of importing cheap labor back in the late 1990's.

This is the next divisive topic coming up to bat!

If you even think of upticking me - Your a Racist 4 Sure.

Sat, 01/19/2013 - 22:59 | 3170006 j0nx
j0nx's picture

I hear you. When in college I used to work in a retail store as a bookkeeper with a moneygram service. You wouldn't believe the amount of money these mofos were sending south of the border on a daily basis and this was in the mid to late 90's before the problem really took off. I still see this issue as one of the top 2 or 3 issues in this country.

Sun, 01/20/2013 - 02:00 | 3170203 LetThemEatRand
LetThemEatRand's picture

I wonder how much money your Moneygram employer made from the mofos.  And you had a job doing it.  I know, it's beside the point, right?  Guy's gotta make a buck.  Principles are for mofos.

Sun, 01/20/2013 - 07:19 | 3170329 GetZeeGold
GetZeeGold's picture

 

 

FORWARD......socialist bitchez.

 

Even Russia is laughing at us now. We no longer have jobs......grab your EBT and shut up.

Sun, 01/20/2013 - 14:01 | 3170687 francis_sawyer
francis_sawyer's picture

Where's the 'dotted line' on 'FRIEND'S MOM'S MAKING $88 AN HOUR ON THE COMPUTER'?...

Sun, 01/20/2013 - 09:12 | 3170412 j0nx
j0nx's picture

Puhleeze. Where I live in the DC/NoVa area the entire area is dedicated to catering to these mofos. I'd be hungry in a ditch if I worked for someone who wasn't kissing their asses. Nova is ALL about political correctness these days. It really shouldn't even be considered to be part of Virginia anymore imo.

Sun, 01/20/2013 - 13:34 | 3170646 Seer
Seer's picture

And you say all of this without providing any data points?

What was the net for businesses hiring "illegals?"

People wanted cheaper homes.  Banks wanted to make money on transactions.  Everyone seemed fine back then with all of this arrangement.  Now that it hasn't held up (people didn't adjust and are now WHINING) we start picking apart the already rotting carcass?

And what about the "free" money dumped into the SS coffers?

On Immigration and Social Security

http://www.zerohedge.com/contributed/2013-01-17/immigration-and-social-s...

Measuring by emotion is always a precarious thing.  At least with data we have something tangible to pick at.

Here's a data point on remittances (source: http://www.remittancesgateway.org/index.php/press-clippings/flows-inform...)

  Remittances to Mexico drop 7.1 pct

Source: Fox News Latino

Mexico in October received nearly $1.78 billion in remittances, a drop of 7.1 percent compared with the same month in 2011, the country's central bank said Monday.

Accumulated remittances from January to October added up to $19.04 billion, a figure 0.9 percent lower than in the same period of 2011, Banco de Mexico said.

The average sum per transaction was $299.80, a decline of 5.8 percent from the $318.20 that those living abroad sent to Mexico in October 2011.

In all there were 5.9 million remittances last October, most of them sent through electronic transfers, a number slightly less than the 6 million transactions a year earlier.

Remittances from expatriates are Mexico's second-largest source of foreign exchange after oil exports and help cover living expenses for millions of households.

Most of the money is sent from the United States, where an estimated 12 million Mexicans live, about half of them undocumented migrants.

Sun, 01/20/2013 - 18:33 | 3171261 trav777
trav777's picture

we can't have enough brown aliens...we import them from places like haiti and somalia.  Not enough crime in most of these cities and certainly not enough democrap voters.

Aliens also eat up tons of local school budgets because we HAVE to teach them in spanish.  If you expected mexico or el salvador to teach your kids in english on their dime and go out of their way to make there like here, you'd be branded a gringo racist.

Sun, 01/20/2013 - 01:36 | 3170187 cynicalskeptic
cynicalskeptic's picture

It's all about finding the cheapest possible labor.  You ship factories and call centers overseas.  

But you don't hear ANY poliiticians talking about limits on outsourcing.  Banks that took billions in TARP funds continue to send jobs overseas - why weren't the required to brong BACK D/P and call centere jobs as a condition for receiving aid?    The same with aid to auto companies....

The jobs you can't send overseas you use illegal immigrants to exert downward pressure on wages.  Immigration is a positive factor in a GROWING economy when ther's a shortage of labor - this was the case with the US throughout the 1700's and 1800's - and the beginning of the 1900's.  You then had serious limits imposed on immigration.   Now......

'Anchored jobs' the ones you CAN'T export have seen serious downward wage pressure because of competition.  When the housing market was booming you saw spreading and increasing presence of illegals displacing US citizens.  Family in the Carolinas saw how most blacks and poor whites in construction were gradually replaced with Hispanics.  You saw the same thing up north - the second gen Italian kids you went to school with who'd been working construction ended up out of work and replaced.  Meatpacking - an industry which had been heavily unionized and paid decent wages and benefits (to reduce high turnover rates in a dirty messy job) was completely transformed with the workforce being replaced wholesale witl non-union illegals.

The US is a nation of immigrants BUT it was so becaues it was a growing economy and short of workers for much of its history.  No longer.   But nobody will say a thing about illegal immigration.  'They do jobs Americans don't want to do' - well without illegals you might have to pay higher wages to dishwashers and others.  As is employers can get away with paying pathetic wages because someone is desperate enough to take it at any salary.  Whole 'industries' - like Horseracing - depend on cheap illegal labor.

The other factor NOBODY talks about is automation.  HUGE productivity savings in things like factory work, phone ssytems, toll collecting and more. As a society you COULD say that all such productivity savings be shared throughout the work force - everyone could wok fewer hours.  BUT NO - productivity gains ahe all gone to the top - higher bonuses for execs and dividends to shareholders.  

Contrast the US to Germany where workers have roles in POLICY and spots on company boards.  

Sun, 01/20/2013 - 01:49 | 3170198 LetThemEatRand
LetThemEatRand's picture

It seems the profit-driven-humanity-can-go-fuck-itself corporations have gone all Galt and shit.  In fiction it ends well.  In reality it ends badly.

Sun, 01/20/2013 - 09:17 | 3170414 j0nx
j0nx's picture

As I said before, the math strongly indicates that illegals are stealing at the bare minimum 5% of American jobs and most likely at least 15% or more. The MSM and politicians continue to cater to these mofos though which tells you all you need to know about where their loyalties lie: with big business and trying to capture votes to keep themselves in office at your expense.

Sun, 01/20/2013 - 13:37 | 3170648 Seer
Seer's picture

Where are you getting your "5%" and "15%" figures from?

Sun, 01/20/2013 - 17:08 | 3171124 Totentänzerlied
Totentänzerlied's picture

Give me all your money and prove you're not profit-driven, big guy.

Sun, 01/20/2013 - 11:14 | 3170508 Dexter Morgan
Dexter Morgan's picture

If you want higher employment and competition with foreign cheap/slave labor all you have to do is raise the import duties, SIGNIFICANTLY.  Tax the foreigners and US corporations that pay the cheap labor, not the locals, and manufacture what isn't imported.  Problem solved.  Free trade allows you cheap gizmos from china while you lose all manufacturing jobs, of course.  Maybe I'm just old enough to have seen it all happen.  Perot, Giant Sucking Sound, and whatnot.

Of course cutting a few 10s of 1000s of regulations wouldn't hurt either.  And hanging a few representatives from telephone poles would be a nice touch.

But since none of that will happen I wlll stack some more gold and silver, bitchezz!

Sun, 01/20/2013 - 12:25 | 3170582 Winston Churchill
Winston Churchill's picture

That is exactly what they did in the 1930's.Worked out so well it only took 80 million

deaths to fix it.

Next suggestion ?

Sun, 01/20/2013 - 13:40 | 3170655 Seer
Seer's picture

AND, back Then there was growth on the horizon thanks to plentiful resources to exploit.  Now that we've chewed through the majority of the world's easily obtainable resources 80 million per day wouldn't likely put a dent in today's problems...

Sun, 01/20/2013 - 14:00 | 3170680 Bananamerican
Bananamerican's picture

"illegals gentrify existing neighborhoods"

gentrification means to improve and revitalize previously run-down neighborhoods....

this is usually considered to be a good thing

Sun, 01/20/2013 - 18:40 | 3171274 trav777
trav777's picture

no it isn't!

Among the NE liberals and the Passover Syndromers in the urban areas, it is a sign of EVIL.  The decline of a black population means LESS diversity and it's always a thumb in the eye when blacks leave and whites come in and civilization somehow returns on cue.

And in places like Anacostia, you see spraypaint on houses and for sale signs "NO WHITES"...of course if this were reversed, it would be national news.

DC is about to lose its black majority and this has been the source of much handwringing and gnashing of teeth.  In places like Portland, OR, they rend their garments over how "embarassingly" white they are.

Detroit is utopia to these types.

Sun, 01/20/2013 - 19:08 | 3171323 Miffed Microbio...
Miffed Microbiologist's picture

Jonx, you also forgot to mention the health aspects. Working in a Mexico border town we see about 75% of our Tuberculosis cases are Hispanic, majority being illegal. ALL of our extreme drug resistant TB cases were illegal. A few years back we had a 75 year old white guy die of TB, kind of unusual so I asked the dr about it. Turns out he had regularly hired illegals for his construction business and because he was on steroids for a chronic condition, the TB overwhelmed him. Well, I guess he saved a lot of money hiring those people but it cost him his life. Unfortunately, unless a senator child gets TB, nothing is likely to change.

Miffed:-)

Sun, 01/20/2013 - 11:04 | 3170498 Bobbyrib
Bobbyrib's picture

You got all that from one sentence (unless his post was edited)?

Sun, 01/20/2013 - 12:02 | 3170554 Future Jim
Future Jim's picture

Think about it.

That one sentence was in response to this sentence.

It's true. There has been no recovery.

Which contains a link to an entire article. All together, that's a lot of material to work with.

In addition, I am trying to tease out better responses than that one vague sentence.

Sat, 01/19/2013 - 18:46 | 3169616 OutLookingIn
OutLookingIn's picture

Agreed - NO RECOVERY.

Ongoing deeper depression.

For the masses? Bread (food stamps) and circusses (Boo Boo Baby meets Wolfman & Jersey Shore)

A litmus test of the intellegence of the nation. DUMB & DUMBER!

Sat, 01/19/2013 - 18:52 | 3169626 Future Jim
Future Jim's picture

That is our plan.

Innovation must be managed. Innovation can empower the little guy and make him think he doesn't need those of us having superior genes to make decisions for him.

Innovation can make the serfs uppity, in the vernacular, as it were. For example, the Internet Reformation makes many serfs feel like they are just as smart as (or smarter than!) we are! Therefore, we can't have unbridled innovation, or else we might get another Internet Reformation before we can stop it. We have yet to complete our control of the Internet itself, so we certainly can’t allow another black swan event like that.

It is true that unbridled innovation would be necessary to support the exponential growth in serf population, but there were already too many serfs anyway. The earth has limited resources, and only those having superior genes deserve to inherit the earth. Slower innovation will thus reveal the urgent necessity of our final solution, which will thus become more acceptable to those elites and useful serfs who were previously reluctant about what must be done.

Slower innovation is thus a good thing.

We elites are right wing extremists, but we spend much of our resources promoting progressivism, fascism, socialism, communism, collectivism, and political correctness - not just because they make the serfs more dependent - but also because they slow down innovation. Our conscience is clear because a majority of serfs freely support us in our promotion of all flavors of collectivism.

The serfs have known that the free market works best for them for at least 400 years, and they still choose to sacrifice their children's future for the short term trinkets we give them. It is their choice.

The free market is an abomination that punishes our superior breeding and rewards that greedy lower class mentality. The free market is anarchy. The success of the common man in the free market is thus proof of his inferior genes. That is why – that government is best, which regulates most.

The serfs have all the information they need to know that we cannot compete in a free market, but they still vote for regulation. It is their choice

When we promise them other people's money, they have all the information they need in order to know that they are those other people. Therefore, if they are blinded by their greedy lower class collectivist mentality, then that is still their choice.

We reveal our plans because everyone must freely choose, and thus our conscience is always clear. We simultaneously offer powerful temptations that will only deceive those who willfully ignore reality and who thus have inferior genes.

We thus respect: those who know that when we are all on the same page, we all benefit, and those who know that we have the right to implement any good idea, and those who know the end justifies the means, and those who accept their place.

Conformity and hierarchy are thus not a necessary evil. They are a necessary good.

Some elites claim that our principles of conformity and hierarchy make us no different than the serfs, who we manage by appealing to their desire for conformity and hierarchy. What these elites seem to forget is that the reason we are superior is because we are smarter. Conformity among the serfs is only wrong because they are imitating those with inferior genes, and hierarchy among serfs is only wrong because they are following those with inferior genes.

Although we are the most highly evolved humans, a new theory posits that conformity and hierarchy are actually the Soul of Animals, and are thus the peak of animal evolution, and that the peak of human evolution is the Soul of Humanity.

Some elites accept these theories, but it does not change our plans because we are thus acting in self defense against the encroachment of the perverse evolutionary course referred to as the Soul of Humanity. Without conformity and hierarchy, the Soul of Humanity is incomplete and would lead to anarchy! One could thus summarize our goal as a crusade to kill the Soul of Humanity, although most of us just see it as killing off reactionary genes.

Some elites claim that the Soul of Humanity is very much like our founding principles, and that we have lost our way. Such elites have obviously been deceived by our own propaganda intended to pacify the masses.

Sat, 01/19/2013 - 19:09 | 3169658 Raymond K Hessel
Raymond K Hessel's picture

You make MDB look like an amateur.

 

Well done, troll. Well done, indeed. 

Sat, 01/19/2013 - 20:29 | 3169773 espirit
espirit's picture

Id jot troll.  There fixed it.

Sat, 01/19/2013 - 22:41 | 3169978 Ident 7777 economy
Ident 7777 economy's picture

 

 Future Jim et al

 

 

Booring. Not boring, Booring ...

Sun, 01/20/2013 - 00:30 | 3170129 Future Jim
Future Jim's picture

I see we will all have to step up our game to provide the quality of intellectual stimulation demanded by 7777.

 

There are green scauses for recycling, blue scauses for kitties, and pink scauses that focus on nothing but titties!

Sun, 01/20/2013 - 13:00 | 3170621 AldousHuxley
AldousHuxley's picture

Elites= people who justify their power with meritocracy while playing down sheer luck

Forbes : Chinese opium trade
British : colonialism
French : colonialism
Kennedy : bootlegging
Politicians : lying and inside trading
Chinese : communists taking state assets ipo
Russian : KGB killers taking over state assets

Sun, 01/20/2013 - 13:46 | 3170659 Seer
Seer's picture

And you can add religious leaders to that heap as well.

What do they all have in common?  Intimidation through fear.

We Don't Need Them

http://www.dissidentvoice.org/Nov05/Carpenter1102.htm

Sun, 01/20/2013 - 18:43 | 3171282 trav777
trav777's picture

wtf is wrong with opium?  People wanted it.

you libertardians are strange...

Sun, 01/20/2013 - 15:44 | 3170969 FreedomCostsaBu...
FreedomCostsaBuck-o-Five's picture

Hold on a second... O'b says we're recovering and that he's created (or saved) over 4 million jobs. There's green shoots, green shoots everywhere!

??

Sun, 01/20/2013 - 02:29 | 3170224 batterycharged
batterycharged's picture

Indeed.

What I find ironic is that all the "true free market" people complain about the fed and big government interferring with our free market economy.

As if we would flourish without these interferences.

The reality is, these intereferences are the duct tape and chewing gum that prevent capitalism from totally collapsing.

We've seen what happens when laissez faire rules the day. It's very much similar to what's happening now.

Money accumulating to a minority. Jobs are scarce, demand is weak.

I love the line "incentive to work" as if people are saying 'yeah, I'd rather have no self worth, sit on my couch and collect $200 per month in welfare than work, have some pride, and make $800 per month".

I think some people need a re-adjustment in their idea of what welfare is and who the people are that are struggling in this country. 

Stop watching Fox and listening to Rush Dimbulb to get your opinions on who these people are.

 

Sun, 01/20/2013 - 18:45 | 3171284 trav777
trav777's picture

you don't many people if you think that there aren't TONS who would take the free money.

How many blacks are on SSI now?  Free money is always preferable to work for most demographics.

Your implicit notion that your values system is shared universally is absurd.

Sat, 01/19/2013 - 18:19 | 3169573 Freddie
Freddie's picture

Hope & Change.

Sat, 01/19/2013 - 18:50 | 3169627 Winston Churchill
Winston Churchill's picture

Hopelessly changed.

Sat, 01/19/2013 - 23:10 | 3170024 wee-weed up
wee-weed up's picture

Where Did All The Jobs Go?

You re-elected Obama... you're kidding me, right?

Sun, 01/20/2013 - 02:01 | 3170202 LetThemEatRand
LetThemEatRand's picture

If you think Obama gets credit for the loss of manufacturing jobs over the last 40 years that neither Team wishes to address because it would displease their corporate masters, then you should get an Obama phone and call home.  He may be a douche, but he did not invent vinegar or water.

Sat, 01/19/2013 - 19:38 | 3169708 TideFighter
TideFighter's picture

5 Mexicans on my front lawn. I paid in cash. My nephew has been out-of-work for three years. He borrows money.

 

 

 

Sun, 01/20/2013 - 13:49 | 3170664 Seer
Seer's picture

But, but!  Folks posting above are saying that this is a net drain from the economy!

I wonder, those who gave you an up-arrow, did they do so thinking "legal" or "illegal?" (I'm neutral [on the "Mexicans" part] until I get clarification.)

Sat, 01/19/2013 - 17:11 | 3169448 Frozen
Frozen's picture

Don't worry about that gaping hole in the middle of the boat

Sat, 01/19/2013 - 18:17 | 3169571 saunhi
saunhi's picture

New outsourcing has been realized via the L-1 field associate visa. U.S corps can now contract entire Bsns units offshore and then the Intl corp can provide local support as needed via the L-1. A complete bypass of U.S workforce can now be done.

Sat, 01/19/2013 - 17:14 | 3169452 Conman
Conman's picture

Why work? Student loans are now pay as you earn, so if you don't earn don't pay? Welfare, Social secuirty disability, just say you ahve a metnal issue get section 8 housing and a paycheck every month. treasury will keep selling bonds to the Fed and budgets(lol) will keep goign over till congress oks abolishing debt limit so we never have to think about defecits until the bond barkets force the issue(never).

Sat, 01/19/2013 - 18:10 | 3169557 Landrew
Landrew's picture

You are an idiot. Making light of needing work, you must be a Cock Brother Troll! Fuck Off from the workers of America!

Sat, 01/19/2013 - 19:15 | 3169668 Conman
Conman's picture

Missed your meds today paid by medicare?

Sat, 01/19/2013 - 17:18 | 3169462 Dark Meadowlark
Dark Meadowlark's picture

Net job creation under Obama, NOT contraction. 

Sat, 01/19/2013 - 17:50 | 3169523 Everybodys All ...
Everybodys All American's picture

lots of hope and plenty of dope.

Sat, 01/19/2013 - 19:40 | 3169712 Poetic injustice
Poetic injustice's picture

He is correct, only he did not say that jobs created were in China and India.

Sun, 01/20/2013 - 08:17 | 3170369 Cloud9.5
Cloud9.5's picture

The growth in jobs is in government.

Sun, 01/20/2013 - 13:52 | 3170667 Seer
Seer's picture

Data point/reference, please.

Sat, 01/19/2013 - 19:40 | 3169713 Poetic injustice
Poetic injustice's picture

First dupepost.

Sat, 01/19/2013 - 17:20 | 3169472 Sudden Debt
Sudden Debt's picture

it's the experience gap that's growing and that's making it more difficult for the next gen to get into the pool.
and the bigger the gap, the longer it will take to recover

Sun, 01/20/2013 - 13:57 | 3170672 Seer
Seer's picture

Recover to what?

What IF there is no such thing as "recover?"  What IF the overwhelming amount of things produced today are mostly irrelevant in the future (because of affordability or, in the case of iCrap, not really essential)?

Sat, 01/19/2013 - 17:25 | 3169480 l1b3rty
l1b3rty's picture

They took er Jobs!

http://silverliberationarmy.com

Sat, 01/19/2013 - 17:27 | 3169488 Sudden Debt
Sudden Debt's picture

my boss is gloating every day.
'this is the time when the boss is boss again!"

yeah....

to bad it's not his companie and we have stakeholders that don't like the numbers :)

I already know what my speech will be when that fucker gets fired! OOOOHHH YEAHHH!!!

Sun, 01/20/2013 - 11:13 | 3170507 Bobbyrib
Bobbyrib's picture

When downturns hit middle management is the first to get the pink slip.

Sat, 01/19/2013 - 17:27 | 3169491 Seasmoke
Seasmoke's picture

Go EAST Young Man......and i dont mean New Jersey

Sat, 01/19/2013 - 18:25 | 3169579 Skateboarder
Skateboarder's picture

East to be the new West?

Sat, 01/19/2013 - 20:32 | 3169775 espirit
espirit's picture

Only if you can grow pot there.

Uh, legally.

Sat, 01/19/2013 - 17:30 | 3169493 A Lunatic
A Lunatic's picture

Do you want jobs or do you want free checking? Make up your fucking minds.........

Sat, 01/19/2013 - 17:44 | 3169512 yogibear
yogibear's picture

It's the world of financialization now.  The solution for the banksters is to print more money and buy stocks to boost prices. Why produce anything. Have slaves in Asia  produce a real product.

Jobs really don't matter anymore. Just trade and keep the markets moving (up or down) making money off the printed money.

In the world of financialization flipping houses are back.

As long as China/Middle East keep accepting more and more deprecating US dollars everything is fine.

 

 

Sat, 01/19/2013 - 17:50 | 3169521 rtalcott
rtalcott's picture

Jobs really don't matter anymore. Just trade and keep the markets moving (up or down) making money off the printed money.

A BIG X IV on that.

Sat, 01/19/2013 - 17:58 | 3169532 Kreditanstalt
Kreditanstalt's picture

As long as you and I and other people keep saving or investing in those paper dollars, the system will go on until, YEARS later, the wheels do fall off.  GOLD. 

Sun, 01/20/2013 - 02:39 | 3170229 batterycharged
batterycharged's picture

I was just thinking about that today.

The people that make money in this country produce nothing.

I work for GECRB, they just sit back and rack in billions on the backs of poor and dumb retail lenders. I worked for JPM, they did the same thing.

You start an enterprise, and the stakeholders make all the money while you do all the work.  Just watch Shark Tank.

So many people getting rich by doing nothing productive.

This is the norm. And no one questions it.

People should be in the streets saying we should change the laws and bring back the Protestant Work Ethic where you actually have to produce something to make money.

We are a society of gamblers. It's very fucking sad.

 

Sun, 01/20/2013 - 14:01 | 3170682 Seer
Seer's picture

Well said!

I'd add talking-heads to the mix of those getting rich doing nothing productive.  TELL ALL THESE FUCKERS THAT WE AREN'T GOING TO WORK FOR THEM OR GIVE THEM ANY MORE OF OUR LABORS.

Sat, 01/19/2013 - 17:50 | 3169516 Kreditanstalt
Kreditanstalt's picture

Yes, "government" certainly counts as an "industry", doesn't it? 

Just ask all my neighbours collecting welfare checks, working "for government", on unemployment insurance ("pogey") (IF they qualify), Native Indian payouts, or in government-protected unions doing highly overpaid resource sector jobs... 

Sat, 01/19/2013 - 19:12 | 3169663 hardcleareye
hardcleareye's picture

Oh dear... you forgot to list "defense contractors" in your lists of government welfare....... 

Sat, 01/19/2013 - 23:41 | 3170072 Kreditanstalt
Kreditanstalt's picture

Yes, and no doubt I forgot many more.  What about employees of driving schools, lawyers, many insurance agents, mortgage insurance and notaries, etc., all of whom only exist because of some government rule?  Do they PRODUCE anything?  Do they satisfy any customer's voluntary needs??

We are in a supremely UNproductive economy...  

Sun, 01/20/2013 - 10:35 | 3170474 11b40
11b40's picture

The entire Finance, Real Estate, & Insurance industry is a bloated, government protected nest of ticks sucking on the public.  Health Care industry, too....in addition to the Military/Industrial Complex.

Yes, Welfare and Illegal Workers are issues, but they are minor compared to the "legitimate" rape perpertrated on all of us every day.

This article is about WHERE things are MADE.  Let's talk about how all our jobs were allowed to migrate to foreign lands.  Simpletons will speak of being unable to compete with low foreign wages, but the question is why we allow goods to be sold here that are produced by slave wage workers with zero benefits, in countries ruled by dictators with no environmental protections, no social safety nets, bare minimal infrastructure......countries that are being pillaged by multi-national corporations fo the benefit of a few at the expense of the palnet?

Sat, 01/19/2013 - 17:52 | 3169528 100pcDredge
100pcDredge's picture

Ehm... I dunno.

North Korea maybe? China?

Uhm... maybe they just went out to get some Twinkies?

Or a slice of Wonderbread...

Africa - then?

I give up.

No. I don't: Disney World?

Poland?

Hey... wait! I know! >> Nobody has to work anymore, because everything is done by these robots and their friends!

Am I right?

I am, ain't I? Of course... and finally.

But how long did it take to get to this stage in human history?

Jeez.

Thousands of years, I gues...?

Millions?

Sun, 01/20/2013 - 14:02 | 3170690 Seer
Seer's picture

Carbon slaves!

Sat, 01/19/2013 - 18:13 | 3169563 billsykes
billsykes's picture

Drilling companies have been a shit investment over the last decade and certainly over the last 5 yrs. There may be jobs but those include staying in a camp very remote and living with rig pigs, with their GED education combined only know how to fight, smoke crack/meth or fuck hookers.

 

Sat, 01/19/2013 - 18:19 | 3169572 Argentbilly
Argentbilly's picture

Automation's productivity gains have gone to the upper class. The worker is losing all power, say good by to the middle class. 

Sun, 01/20/2013 - 14:06 | 3170693 Seer
Seer's picture

Circular function for sure.  Purchasing more iCrap = deteriorating job prospects.

Sun, 01/20/2013 - 15:20 | 3170905 John_Coltrane
John_Coltrane's picture

Then perhaps we need to get rid of all those tractors, cultivators and harvesters and go back to a full employment agrarian economy?   People now-a-days have no clue how much better off they are then people who lived 100 years ago.  The very fact we can all waste time typing inane comments (mine included) to anonymous other commenters is proof of how much wealthier we all are (wealth=time) instead of foraging for food everyday so we don't go hungry.  The elite who lived in the 1800s didn't even have indoor plumbing much less antibiotics, motor vehicles et al.  And life span was much lower.  

The central problem of the modern technological age is the Gaussian distribution of IQ which guarantees at least 1/2 the population can add little value to products or services at the prevailing Western minimum wage.  We need more competition, not less via central control and fiat which is the "solution" so many commentors suggest.   A start would be eliminating minimum wage laws.   To complain about competition from foreign workers is nothing more than whining.  What's so special about American workers other than atavistic tribal instinct?  If some service or product can be made more efficiently in say, Mexico, than the US then so be it.  Take some personal responsibiltiy and initiative.  Haven't got any capital?  Try work and saving-it actually works.  Just make sure you save in gold and silver.   And develop the analytical and technical skills and abilities which are in useful in everyday life as well as of great value to others.  Then you won't have to depend on others, especially the government, for a job.  You can create your own. 

Sun, 01/20/2013 - 16:00 | 3171016 overmedicatedun...
overmedicatedundersexed's picture

johnny C, protecting your work force is so 18th century hey...what you miss is the ability to connect dots, the loss of jobs and living standards in USA, is the result not of workers , but of a systematic plan, run to a goal of concentrating wealth and power in centers that control without the bother of voter consent. your world view is corrupt and sickening , like so many, educated beyond your intelligence.\

 world banks need free trade worldwide corps need free trade..USA never needed it, it was imposed on us. you forget or perhaps never learned that the WHOLE FEDERAL GOV WAS RUN BY TARIFF FEES WITH NO INCOME TAXES. think of how competative our business could be with no tax burden...no this is a scam on a grand scale and fits perfectly with the crimes at the top of our gov and finance centers..one must have the other.

Sat, 01/19/2013 - 19:05 | 3169588 Insideher Trading
Insideher Trading's picture

Let me use a bit of hyperbole for conveyance of of my point:

Let's say GM is a private company. Let us also say that 50% of the buyers of GM vehicles are government purchasers (federal vehicle fleets, etc). Let us also say that the remaining 50% of consumers are sub-prime borrowers, the loans of which are backed by government guarantees. Not to mention the multiple billion dollar bailout from the the government they already received.

So in exchange for all this government provided assistance, the government compels GM to produce energy efficient vehicles

...the components of which are manufactured by Obama campaign contributors.

#1 The entire market for vehicles has been manipulated by the government at the detriment to competitors (and by extension consumers)

#2 The market for GM cars is existent only because of tax payers subsidizing a product they wouldn't purchase to begin with. 

#3 The tax payer gets further into debt

#4 The beneficiaries are the friends of the politicians.

This is not only detrimental to society as a whole, but it is also the antithesis of what America was founded upon, and what the the American revolution was fought over. The unfortunate thing is that the majority is now reflecting the desire of fascism and confusing it with capitalism AND socialism.

Did you ever really have to think why Corzine isn't in jail? Because fascism is pretty sweet when you're wired into the political establishment.

Sat, 01/19/2013 - 19:39 | 3169711 A Lunatic
A Lunatic's picture

I must have missed the hyperbole..............

Sat, 01/19/2013 - 22:52 | 3169995 disabledvet
disabledvet's picture

power to weight ratio bitchez. the oil GOO is going DOWN!

Sat, 01/19/2013 - 23:02 | 3170012 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

Need to start a movement, bumper stickers, the whole thing:

 

" Jail Time for Corzine "

 

 

 

 

 

 

Sat, 01/19/2013 - 18:48 | 3169619 joego1
joego1's picture

The global profit model has replaced any need for human dignity.

Sat, 01/19/2013 - 18:52 | 3169624 eddiebe
eddiebe's picture

Where have all the good jobs gone, long time passing,

Where have all the good jobs gone, long long time ago?

Where have all the good jobs gone? Gone to China every one,

When will we ever learn, when will we ever learn?

Where have all our dollars gone, long time passing?

Where have all our dollars gone not so long ago?

Where have all our dollars gone, gone to banksters every one,

When will we ever learn, when will we ever learn.

Sat, 01/19/2013 - 19:00 | 3169640 joego1
joego1's picture

Ha, I was actually humming the same thing in my head when I read the title.

Sat, 01/19/2013 - 19:30 | 3169693 rtalcott
rtalcott's picture

" and jobs is just a four letter word...."

Sat, 01/19/2013 - 18:50 | 3169628 Black Markets
Black Markets's picture

Of course more things are made in China these days.

The Chinese workers build superior products v's US workers.

Dont believe the BS jingoistic propaganda your 4th rate politicans and blue collar media puke all over you. The free market PROOVES it. Chinese products are simply better.

The US is getting killed on global stage, not because of complex systemic nuances. But because Joe Sixpack builds inferior drive shafts compared to Mr. Lee.

Americans have been found out. And now the whole world is cut throat hungry for a slice of the lifestyle where people see fit to take 2tons of steel on a 25 mile round trip to pick up a quart of milk.

Your finished, not because of the system or a corrupt elite. But because at the micro level the atypical American is lazy, spoilt, distracted, unfocused, disinterested and self righteous.

You have everything to lose and you don't even realise you're in the middle of the fight of your lives. Too busy pointing fingers at Washington to realise the real fight is right there at your own desk.

Sat, 01/19/2013 - 18:54 | 3169631 eddiebe
eddiebe's picture

Planned obsolescence, baby!

Sat, 01/19/2013 - 19:01 | 3169644 Winston Churchill
Winston Churchill's picture

You just hit the (pink)nail on the head.

It will make you as popular as a fart in a spacesuit.

Exactly my experience running businesses here,in spite of the workers.

Sat, 01/19/2013 - 19:30 | 3169694 Black Markets
Black Markets's picture

I don't care for popularity, I don't suffer groupthink.

The truth is that the US has the best economic system in the world, it's the most liberated and unfettered there is.

Unfortunately it is populated with self indulgent sloths hell bent on out consuming their neighbour as opposed to out producing their respective industrial cohorts.

It is incredibly ironic to read the thoughts of a mediocre and below average workforce pointing the finger at the most effective economic system in the world as the source of their troubles.

These people haven't a clue.

The average worker in Hong Kong / Japan / Singapore / South Korea / Taiwan works 2,300 hours a year.

The average US worker does 1,700.

Yet the American workers blame their politicians? No, you're each 600 hours a year short of bringing an end to deficit spending.

The US (system, geography, demographics) is more than capable of producing a substantial surplus. It's just a shame the American work ethic is so lazy and defeatist.

The USA is getting killed not because of D.C. But because YOU clock off 2 hours early every day.

Sat, 01/19/2013 - 19:41 | 3169717 Winston Churchill
Winston Churchill's picture

Yep.

Didnt always be that way.Used to do a lot of biz with Mormon run US businesses

back in the 1970's and 80's.Wasn't like that then but mormons are all

workaholics, or sexaholics in their off time.No other interests.

Spoiled BB's,having few ,even more spoiled children,who ignore theirs..

Clogs to clogs in three generations.

Sat, 01/19/2013 - 20:09 | 3169753 Black Markets
Black Markets's picture

Clogs to clogs indeed.

It's always funny to see underperforming Americans bemoan the system for their woes.

Every other economic system across the entire earth (some 200+ of them) is worse than the US. If you can't make it in America you can't make it anywhere.

If your life didn't turn out the way you expected there are only two sources of that disappointment.

1. Yourself, you and only you have failed.

2. Your parents, for giving you high expectations and no means of attaining them (character, determination, ambition).

To blame some government figurehead or some far away official or collection thereof for the problems that you face every day in your life is entirely representative of somebody who is lazy, dismissive, self righteous, evasive and irresponsible.

Nobody is going to come rushing up to you in the street and say "Hey you! Hey Victoria Schwarz! I want to give you millions of dollars and a huge new duplex over looking the park"

- yet this is what many people seem to expect as some kind of divine right.

The world doesn't owe you shit. No matter who you are. It doesn't care if you're smart or as dumb as a post. Nobody is going to rush you in the street to fulfil your dreams for you (unless you can throw a pigskin 50 yards).

But joking aside Generation X and Y are much weaker than their great grand parents and the Baby Boomers squandered all the wealth that predates them and all the wealth of the X and Y's.

QED: Generation X and Y are lazy, unfocused, dismissive and disinterested. They were born into servitude of their parents debt and they have neither the ability nor the inclination to surmount it.

The USA is uncompetitive not because of the system or because of the elite but because this generation is a zombie generation, devoid of any work ethic and totally self indulgent.

This is why US products do not sell overseas, it's why the country runs a gigantic current account deficit.

It's because of the slack ass national culture, not because of some secret club of elitist lizard men.

Sat, 01/19/2013 - 20:40 | 3169783 espirit
espirit's picture

I still think the Secret Club of Elitist Lizard Men had a part in all this.

Sat, 01/19/2013 - 23:08 | 3170015 The Second Rule
The Second Rule's picture

Wow you sound like you are locked into some kind of 1960s state of mind. I hate to quote Alex Jones (he hasn't been born yet) but the country has been destroyed by design. I just sent a time machine back to you. Why don't you step outside your drycleaning business on 34th street, climb in, and I'll bring you forward to the year 2013. Then you can see what the world looks like now. When you arrive I'll give you a few days to take a look around, get good and drunk to recover from the shock of it all, and then, if you are up to it, you can talk about it with the rest of us. 'k? Or just stay back where you are and take the slow road. It's up to you. You'll get here anyway, oh...in about 45 years. Cheers!

P.S. Don't take too long to take me up on my offer. I just can't leave a time machine double parked out there on the street. It fucks with the timespace continuum.

Sun, 01/20/2013 - 07:28 | 3170333 Winston Churchill
Winston Churchill's picture

The world was just as corrupt back then.

Granted the scale and brazeness of it now is new,the corruption is not,Or

maybe its te a general availability, and easy access to the infirmation.

Some peole will always think their time is unique as an excuse to do nothing.

Sun, 01/20/2013 - 08:53 | 3170401 overmedicatedun...
overmedicatedundersexed's picture

black markets, eyes wide shut itis at it's worse..working hard is hard to do when the gov has policies to remove your job. does not protect jobs that the gov regs make more expensive , osha, epa, fica, ue ins, then gives co tax credit to move off shore...your post smacks of those who don't know what they don't know..our economy is based on massive corruption and run by elite with no loyalty to any nation state. go back to sleep. 

Sun, 01/20/2013 - 15:41 | 3170960 Black Markets
Black Markets's picture

"Working hard is hard to do..."

That's the point my friend!

Americans have it easier than anyone. The US system is the most forgiving, least corrupt (yes really), fewest regulations, most opportunities (yes still the case), America is still the easiest place on the whole earth to start up a successful business. Even if America is less forgiving than it was 10 years ago it is still far more forgiving than every other country in 2013.

And America is the one place where the individual blames the system first and themselves last.

Maybe that's why the US has such a fantastic economic system? Because everyone spends so much time and energy focusing on the grand system rather than doing their jobs?

If Americans spent an hour day less focusing on Washington and an hour a day more on their chosen profession then the country and the economy would be home and dry.

Sun, 01/20/2013 - 15:35 | 3170946 John_Coltrane
John_Coltrane's picture

Great comment.  When attempting to locate the source of a problem the first place to look is the mirror.  This should be the motto of all libertarians.  That requires a degree of honesty that scapegoating foreign competition lacks.  Evolution, merit, and competition are the rules of life.  Fabian Socialists attempt to substitute concepts such as "fairness" for these laws.  Eliminate prevailing minimum wage laws, anticompetitive cartels like the FED and eliminate the debt financed social welfare state.

Sun, 01/20/2013 - 15:42 | 3170962 Seer
Seer's picture

The US is in decline because that's the normal progression of all empires.  Empire status is lost when the country is unable to procure enough additional resources to stoke the fires.

Capitalism is a highly efficient system for exploiting resources.  In the US people started to see the externalized impacts and started poking sticks in the spokes.  In China they're still tearing through things, but, when their spokes start picking up sticks they'll have found that they've been one huge sweatshop, their lands are trashed, and that they're hanging on to meaningless (null) contracts (US Treasuries); AND, they'll have become extremely addicted to fossil fuels.

"The US (system, geography, demographics) is more than capable of producing a substantial surplus. It's just a shame the American work ethic is so lazy and defeatist."

A surplus?  Based on what?  Really, what the fuck does that mean?  Further, and he is where most fail, the measure needs to include a time reference as well as a growth reference: how much growth? (keep in mind perpetual growth on a finite planet is NOT possible) over how long of a time period (speaks to duration of any growth).

As far as lazy and defeatist, perhaps you're confusing demographics (wait until China start aging more, and with the one-child policy...)?  If the lazy folks put down their iCrap then that would kill Chinese exports: it'll happen one day anyway.  And perhaps "defeatist" means people are seeing a major paradigm shift is coming, a shift that will make iCrap (made in China) meaningless?

Not a good idea to get too fucking smug about things.

Working harder to get ahead is a myth.  It's working "smarter" that really counts.  And even then, how is this measured? are we really smarter if we make things that deplete limited resources faster?

Sat, 01/19/2013 - 19:02 | 3169647 joego1
joego1's picture

You are full of poop

Sat, 01/19/2013 - 19:13 | 3169664 CheapBastard
CheapBastard's picture

That's why we need a across the board 20% import tax on all Chinese goods....that'll fix things. Chuck Schumer said so.

Sun, 01/20/2013 - 10:58 | 3170493 11b40
11b40's picture

Chinese workers, just lke all workers, build what they are told to build to the specs they are given.  What a load of crap you espouse.

Are Chinese workers better educated, more creative?  Are they more innovative?  Let me answer for you, as I have been traveling to China since 1991 - no, they are not.

Are they more moral, more loyal, less self-centered, less likely to cheat or take short cuts?  Hell no.

And, you seem have not a clue of what an atypical American is.  The vast majority of Americans do work hard, and smart, plus they are working harder and longer evrey year it seems to me.  Are there lazy sloths in America?  Of course, just as there are in every society - all but a few, however, would much prefer to work....to be productive and take pride in an earned pay check.

there is rot in the American barrel of apples, but it is mostly at the top.

Sun, 01/20/2013 - 14:50 | 3170823 Black Markets
Black Markets's picture

So why do US workers work 1,700 hours a year when 2,300 is the competitive rate?

Not lazy? Sure they are. They just don't know it.

And the US system is broken? The top is rotten?

Ha! It's still the best and fairest system anywhere on earth.

There's a reason you don't see people emigrating from the USA it's because the US system is the easiest and most forgiving there is. You get paid most for doing the least in the USA, be a use the system is the best.

If you left America to make a life elsewhere you would struggle to compete. It would be more difficult and you would have to work twice as hard.

All because you left a better system for a worse one.

The fact Americans blame their own system for their failings is a joke.
It is the BEST economic system in the world. People fail in America because they are losers. They would not make it anywhere else. EVERYWHERE else is more difficult.

Get over it.

Sun, 01/20/2013 - 16:43 | 3171093 Seer
Seer's picture

Who are you paid by?

Did you buy MBSes at the top?  If so then I could imagine that you believe that best strategy is to get in at the top (just as the US empire starts to fall down the other side of the curve).

Over-consumption always leads to gluttony.  It's a natural thing.  Enjoy the buffet while you climb to the top.

Mon, 01/21/2013 - 01:59 | 3172106 MeelionDollerBogus
MeelionDollerBogus's picture

"So why do US workers work 1,700 hours a year when 2,300 is the competitive rate"

32 hrs/week or 1700 hours per year is what's ON OFFER from employers & many who'd like to work more MAY NOT and it's not their choice.

Working 2300/year or 44/week is only an option if the employer says it is, the employee never gets to choose. It's fairly exhausting too, leaving not much time for sleep+eating+travel time to work. Having had 44/week and 40/week I prefer the 40/week I do now. I find I make much better use of my time because I have time to breathe & research investing, rather than busting my hump to get pennies more at a time post-tax. I'd rather invest & get returns tax-free, thanks.

If you want to talk about what's COMPETITIVE then it's either LESS than 32 hours/week - avoiding full-time status & benefits - or it's far over 44 (60) hours/week which gives way more benefit to the employer while killing the employee by age 55.

Sun, 01/20/2013 - 18:14 | 3171230 Blankenstein
Blankenstein's picture

.

"The Chinese workers build superior products v's US workers"

This is complete BS.  Furniture, clothing, shoes, small appliances, light fixtures, cat and dog food, ingredients for drugs (Heparin), etc. made in China is completely inferior to American made goods.  This is from personal experience, not listening to the above mentioned.  (FYI The dummies that can't make it in anything productive like to slither into political careers because of all the power and the lack of any skills, except lying, required.)  

Sat, 01/19/2013 - 18:57 | 3169634 eddiebe
eddiebe's picture

Idiocracy meets corporatist fascism.

Sat, 01/19/2013 - 19:22 | 3169683 JR
JR's picture

It’s become increasingly difficult to believe analyses from Goldman and Bloomberg when they are poised to benefit politically from the statistics they provide Americans.

The relationships in the bar chart between China and the U.S., for example, do not seem credible and need explanation. For instance, what do Bloomberg and Goldman mean by "manufacturing"?

Here are just a few statistics from “Our Country" written by Dr. Josiah Strong and copyrighted in 1885 and 1891.

“Already have we [the United States] won the first rank as a manufacturing people, our products in 1880 having exceeded even those of Great Britain by $629,000,000… And it is interesting to note not only our position, but our rate of progress. While the manufacturers of France, from 1870 to 1880, increased $222,640,000, those of Germany $416,240,000, and those of Great Britain $561,440,000, those of the United States increased $997,040,000.“

Wrote Dr. Strong: “Inventiveness has come to be a national trait. The United States Government issues four times as many patents as the English. From the Patent Office in Washington there were issued during 1889, 21,518 patents. At the International Electrical Exposition in Paris, a few years ago, five gold medals were given for the greatest inventions or discoveries, all of which came to the United Staes. The Mechanical World, of London, says that the United States has the best machinery and tools in the world…”

As to the resources of this great empire at the time, not including Alaska, "according to the census of 1880, the area of the U.S. was 2,970,000 square miles, and according to the smallest estimate 1,500,000 square miles of arable land. China proper, which, according to the latest estimates in the 1890 Statesman’s Year-Book, supports a population of 383,000,000, has an area of 1,297,999 square miles or considerably less than one-half of ours not including Alaska.

”The Chineses are essentially an agricultural people. This vast population, therefore, draws nearly all of its support from the soil... It would seem, then, that our arable lands,taking the lowest estimate, are in excess of those of China, by some hundreds of thousands of square miles. The fact, therefore, that Chinese agriculture feeds hundreds of milions ought, certainly, to be suggestive to Americans.” America's population in 1890 was 62,979,766.

One wonders, then, just how productive China's manufacturing was while western countries were increasing their manufacturing capacities. In 1934, for example, Alice Tisdale Hobart had a best-selling novel, Oil for the Lamps of China (1934). It is the story is a "young American businessman in the 1920s who wants to bring 'light' and progress to China in the form of oil and oil lamps." IOW, it’s hard to imagine a major manufacturing country that didn’t even have a lamp  for the use of oil to produce light.

Pearl Buck's Pulitzer-prize winning novel, The Good Earth (1931), preceded Hobart's book, and in its dramatic story Pearl Buck covers the hardship lives of the Chinese poor as they strugge with the elements and hardships of Third World China.

Sat, 01/19/2013 - 20:48 | 3169789 dolph9
dolph9's picture

Black Markets is an asshole.  Sounds like a typical immigrant.

Verily I tell you, anybody still "working hard" in the current system is the final patsy, and they will find out they wasted their time.

The Asians who are working like slaves for their corporate and Wall Street masters?  They've been played like fools but are too stupid to realize it.

To be fair the Japanese seem to have figured it out now.

Sat, 01/19/2013 - 22:31 | 3169964 newdoobie
newdoobie's picture

If you don't work hard your fucked! I work as hard as I can for as long as I can, I am always on the lookout for faster ways of working to increase my profit. (Not thru gimmicks) I realize that 90% of the people I hire are worthless, and try to limit them to harmless positions (if I have to keep them at all).

The trick to success is that I live below my means and put my excess in PM's and property (arable land.)

Unions are useful to help keep track of your labor costs, BUT I HATE THEM BECAUSE THEY KEEP PEOPLE FROM FIGURING OUT WHAT THEY ARE WORTH.

Sun, 01/20/2013 - 16:57 | 3171112 Seer
Seer's picture

"Sounds like a typical immigrant."

That's eerily xenophobic.

"The Asians who are working like slaves for their corporate and Wall Street masters?  They've been played like fools but are too stupid to realize it."

I'm not an expert on employment data, but I'd have to wonder whether there are a whole lot more "whites" doing this exact same thing.

Sometimes people just cannot face things so they just look to move along to get along, hoping that safety in numbers works out.  Yes, for some it does I suppose; it's just that it's not the best thought-out strategy for all situations.

"To be fair the Japanese seem to have figured it out now."

The Japanese are aging.  So, perhaps you're right, perhaps it's an artifact of wisdom with age.

Sat, 01/19/2013 - 22:26 | 3169946 reader2010
reader2010's picture

The Mighty Imperial Army will Need your body count soon.

Sat, 01/19/2013 - 23:16 | 3169988 The Second Rule
The Second Rule's picture

With jobs all our economic and social problems go away. The president's #1 job when he wakes up each morning is to think to himself "How can I create more jobs for Americans?" Will a 20% tarriff on goods imported from countries that peg their currency, or use slave labor create more jobs here? Fine. Then do it. Not because Chuck Schumer says so but because it's good for the nation. With jobs comes a strong middle class. Without a strong middle class you have a 2 class society: the super rich and peasants on the government dole--which is where we're headed. With jobs comes tax revenue and with that revenue you can fund education, so our education problems disappear. You can also fund infrastructure projects so our problems with crumbling water lines, sewer lines, bridges, highways, roads, all that goes away. With jobs you have strong communities with proper police, fire, and hospital services, so crime disappears, and people aren't dying in their unheated apartments because they can't afford to see a doctor. With good paying jobs, people can save for their retirement. More money goes into the social security system but less strain is placed on SSI and Medicare at the same time. The government can squirrel away money in a rainy day fund to deal with natural disasters (and we  haven't seen the last of them). Jobs are the answer to all our problems. It's not rocket science. The only people who don't want jobs to come back to America are the banksters on Wall Street, the cunts who destroyed America in the first place. You will never get those jobs back unless they go. First. And that will require a fight, possibly a small scale revolution. Obama will never do it. Never, because he's a "corporatist." Chris Hedges described corporatism as the most destructive economic system humanity has ever seen. And as he also added, "It will destroy us. It is destroying us."

Sun, 01/20/2013 - 11:07 | 3170499 11b40
11b40's picture

Bingo...100%

Sun, 01/20/2013 - 11:38 | 3170532 Bobbyrib
Bobbyrib's picture

"More money goes into the social security system but less strain is placed on SSI and Medicare at the same time."

This is the only thing I disagree with. To some extent you are correct, but look at how much the average Baby Boomer "saved" for retirement outside of Social Security..not much. They probably had the best lives out of any American generation there is and most of them pissed away all their savings.

Sun, 01/20/2013 - 17:03 | 3171120 Seer
Seer's picture

The "Greatest Generation" had it best.  The Boomers are only now entering retirement and already the wheels are falling off.  And a large part of this is due (although it was inevitable) to Johnson busting open the vault on SS and lumping it with the general funds (for looting to pay for war debts): from that point on it's been a pay-as-you-go operation, with current workers paying the retirement funds for those collecting (big bad bullseye painted by demographics- OOPS!).  Timing is everything...

 

Mon, 01/21/2013 - 00:21 | 3171959 MeelionDollerBogus
MeelionDollerBogus's picture

Your nonsolution forgets that the Federal Reserve is pegging USD to other export-ratios and is further paying for war to kill those who don't comply with ONLY currency manipulation by the Fed. The #1 global currency manipulator IS THE USA.

Sat, 01/19/2013 - 23:01 | 3170008 tempo
tempo's picture

If GWB had not exempted fracking from the clean water act and placing it under State control, the oil and gas job boom would have been killed by the EPA.   Obama will kill fracking jobs IMO by executive orders giving the EPA regulatory control which will supercede state regulations.

Sun, 01/20/2013 - 11:44 | 3170539 Bobbyrib
Bobbyrib's picture

If you love fracking so much go live in a town where it takes place and drink the water. Drinkiable water will be in short supply in the future and here we are dumping it into the ground loaded with chemicals so we can have natural gas sitting at the lowest levels seen.

Sun, 01/20/2013 - 17:49 | 3171205 Seer
Seer's picture

Another party pussy...

Obama is on the side of big corporations.  Wake the fuck up.  He's done as much as possible to give them everything they want.

And when all is said and done, when all the shit is sucked out of all those wells, Then what?

Food, Shelter, Water.  If you cannot tie into these then you're sure to head over the cliff.

Mon, 01/21/2013 - 00:18 | 3171951 MeelionDollerBogus
MeelionDollerBogus's picture

Wrong by historical precedent: classic being Exxon, recent being BP.

Sat, 01/19/2013 - 23:39 | 3170067 Nobody For President
Nobody For President's picture

All your jobs are belong to us.

 

BitCheez....

Sun, 01/20/2013 - 08:22 | 3170376 MFLTucson
MFLTucson's picture

Where is Obamas Jobs plan that he told the people of America was his first priority?

Sun, 01/20/2013 - 08:52 | 3170398 fiddy pence haf...
fiddy pence haff pound's picture

I was hoping Romney would have become president.

He is the epitome of the vulture capitalist offshoring (money & jobs)

bastard and is the idol of many lesser vultures.

the whole US world-leader democratic manufacturing engine of the

world concept would have blown up in a spectacular default or in

civil war after the cessation of Soc Sec and Medicare.

Whether I learned it here or from Max, we all know that the exporting

of manufacturing jobs to China still allows the owners of stock (the vultures)

to make a good show on the NY stock xchange, giving the illusion of good

economic times. 

The latest and greatest? Romney's offshoring of GM's AC Delco (or whatever new name it had)

at the expense of GM and the government. Romney pocketed  bailout money for destroying

a viable company. Of course, nobody would have dared tell him that to his face if Mittens had

become president.  

Employees are just inanimate expenses to be minimised, thanks to "alt-media guys" like Mish Shedlock.

 

Sun, 01/20/2013 - 08:57 | 3170403 overmedicatedun...
overmedicatedundersexed's picture

fiddy and obuma has been so much more honest, much like the driven snow..not one banker or wall st big wig has been so much as charged by sec or doj under his adm..but point taken i did not vote for either snake

Sun, 01/20/2013 - 19:06 | 3171313 Notarocketscientist
Notarocketscientist's picture

Yes I too was hopoing Romney would win so he could stick the dagger into the heart of the evil beast that is America

Sun, 01/20/2013 - 10:41 | 3170471 Disenchanted
Disenchanted's picture

Some excellent points by the 'Archdruid' in The Road Down From Empire:

 

It’s worth taking a few moments to go over some of the more visible signposts of the road down from empire.  To begin with, the US economy has been crippled by a century of imperial tribute flowing in from overseas.  That’s what happened to our manufacturing sector; once the rest of the industrial world recovered from the Second World War, manufacturers in an inflated tribute economy couldn’t compete with the lower costs of factories in less extravagantly overfunded parts of the world, and America’s industrial heartland turned into the Rust Belt.  As the impact of the tribute economy spread throughout US society, in turn, it became next to impossible to make a living doing anything productive, and gaming the imperial system in one way or another—banking, investment, government contracts, you name it—turned into the country’s sole consistent growth industry.

That imposed distortions on every aspect of American society, which bid fair to cripple its ability to pick up the pieces when the empire goes away.  As productive economic sectors withered, the country’s educational system reoriented itself toward the unproductive, churning out an ever-expanding range of administrative specialties for corporations and government while shutting down what was once a world-class system of vocational and trade schools.  We now have far more office fauna than any sane society needs, and a drastic shortage of people who have any less abstract skill set.  For the time being, we can afford to offshore jobs, or import people from other countries to do them at substandard wages; as our empire winds down and those familiar bad habits stop being possible, the shortage of Americans with even the most basic practical skills will become a massive economic burden.

 

further on:

 

It’s a long, rough road down from empire, and the losses involved are not merely material in nature. Basing one’s identity on the privileges and extravagances made possible by the current US global empire may seem like a silly thing to do, but it’s very common.  To lose whatever markers of status are respected in any given social class, whether we’re talking about a private jet and a Long Island mansion, a fashionable purse and a chic condo in an upscale neighborhood, or a pickup and a six-pack, can be tantamount to losing one’s identity if that identity has no more solid foundation—and a great many marketing firms have spent decades trying to insure that most Americans never think of looking for more solid foundations.

 

 

That last point has implications we’ll be exploring in a later sequence of posts.  For the time being, though, I want to talk a bit about what all this means to those of my readers who have already come to terms with the reality of decline, and are trying to figure out how to live their lives in a world in which the conventional wisdom of the last three hundred years or so has suddenly been turned on its head. The first and, in many ways, the most crucial point is one that’s been covered here repeatedly already:  you are going to have to walk the road down from empire yourself.  Nobody else is going to do it for you, and you can’t even assume that anybody else will make it easier for you.  What you can do, to make it a little easier than it will otherwise be, is to start walking it before you have to.

Sun, 01/20/2013 - 13:03 | 3170622 Mad Muppet
Mad Muppet's picture

Still plenty of jobs in the Bakken of North Dakota. I see signs and hiring bonuses for CDL drivers with tanker experience. But then I'm over here because these are the only jobs to be found in the country. It's slowed down from two years ago, even here.

Sun, 01/20/2013 - 13:28 | 3170642 Walt D.
Walt D.'s picture

R.O.U.T - Regulations, Obamacare, Unions, Taxes. 

These are the dissincentives to create new jobs here in the US, and the incentives to move existing jobs offshore.

Sun, 01/20/2013 - 14:42 | 3170731 Money 4 Nothing
Money 4 Nothing's picture

Our American industry has been outsourced to 5 third world Nations subsequently destroying one great Nation of Pioneering know how in the transition. The industry that has been farmed out to other Nations will never return in my opinion because of an overeaching anti commerce Federal regulation arms tha have turned into a buracracy of stringent guidelines to do buissness in the USA along with punitive fines, operational fees etc which makes it nearly impossible to operate competitively on a global trade platform. Free trade acts and ditching our Space Program didn't help either, the day a Nation stops exploring new frontiers is the day that begins the slow and steady decline of research, education and new discoveries which have found their way from the space program into the private market such as Kevlar, new types of automotive brake materials etc.

China to begin building  Chrysler Jeep products for example. Romney did tell the truth after all! Last one to leave the USA don't bother turning the lights off. And just for the record,America hasn't had any meaningfull growth since1980. The only thing we make here now are old people, babies and print money out of thin air at .63 cents per 100 dollar bill, a far cry from her former glory.

Mon, 01/21/2013 - 03:03 | 3172182 Lord Of Finance
Lord Of Finance's picture

I don't know what all the fuss is about. I see plenty of hiring adds at Mcdonalds and Home Depot. Who would want to start out in some manufacturing job at 12$ per hour when you can go to Panera bread, Mcdonalds, Starbucks or the Depot for a few cents above minimum wage? And better yet, who would want some higher paying manufacturing job that has a set hour work week. Don't you want your work schedule to change on a weekly basis so you never know when you will have time off to get anything done or make any plans?

 

  I don't know. Maybe it's just us. Anyway, good luck to you.

 

              Sincerley,

                  With best regards from all of us at the fed and in government

 

Mon, 01/21/2013 - 05:21 | 3172243 Shigure
Shigure's picture

Where did all the jobs go? Billionaire Nick Hanauer addresses why the wealthy are not job creators in this TED talk:

http://www.youtube.com/watch?v=bBx2Y5HhplI (5.50)

"Jobs are a consequence of an ecosystemic feedback loop between customers and businesses"

Thu, 01/24/2013 - 08:58 | 3182127 Jeelan
Jeelan's picture

Are you aware that he had an unprecedented filibuster proof majority for a while.executive search

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