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It's Official: The US Created Less Jobs In 2013 Than 2012
The Fed spent over $1 trillion in 2013 (to push the stock market to all time highs) and all we got was... less jobs created than in 2012?
Establishment survey 2012 vs 2013 job change:
And Household survey 2012 vs 2013 job change:
Source: BLS
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Rally/taper on!
(why? because there is no market/spoon)
hedge accordingly.
In other news, chocolate ration is increase from 5g per day to 20g per week. Also, severe cold weather is persist, provide proof of global warming.
If you use the Household Survey, it comes to $743,378 per job. Assuming an average pay of $50,000 per job and an average tax rate of 25%, it will take almost 60 years for the government/Fed to recoup their "investment".
You're forgetting to use the multiplier, which is surely up to 2 or 3 bucks of real growth for every dollar of phony money printed.
"Fewer," not "less."
"fewerless"
There, Boris is fix that!
But...but their expectations were so high!
Once again, idiot celebrity economist is surprise.
FORWARD!
At least I've got my twitter shares to keep me warm at night.
QE was never meant to create jobs. It's public front was to spew rhetoric to the sheep.
QE was and is made to facilitate the greatest wealth transfer in modern history.
The sooner you come to terms that you are willingly becoming a debt slave, the sooner you can get out while you still can.
um, everyone here already knows that. whats your next grand statement? maybe you can tell everyone that it snows during the winter or that obama is not a white man?
He's black!?!?
Obama is noble and he keeps his promises to the American people.
Using the CNN George Zimmerman race formula he is a white African American.
Using the CNN George Zimmerman race formula he is a white African American.
The recovery that never was.
Isn't this what the recovery is supposed to look like?
According to a recent survey taken in Greenwich, Connecticut....yes!
this can't be right, can it? banks are doing fine..but at my local m%t bank, all the old tellers are gone, the new multi cultural hires don't even say hello, just glare at you.
Gotta be BankofAmerica...
"the new multi cultural hires don't even say hello, just glare at you."
Do they speak English?
Before I transferred to a credit union I was with Wells. All the tellers at the branch I used were hot and kept there blouses unbuttoned to show off the goods. Nice view but not worth the fees.
If you like your Disguised Depression you can keep your Disguised Depression.
Well, yeah. Because, you know, the recovery is so strong you would expect the rate of job growth to slow, because, you know, everyone is working.
/sarc
Because Obama!
I think Obama is lying....I saw him speaking...
He is a lawyer--whats that lawyer joke?
Something about backing up and running over them again.
No, no this is bullish becuase now ...... aw fuck it. Can't wait to see if anyone asks Jay Carney to see what he has to say.
Top graph just a LITTLE misleading
Well...sure, the numbers show a .3% decline, but the spirit of the decline is 50%. Yeah, that must be it.
Don't forget that to push the SP500 up 1% becomes more expensive every day and the players who are manipulating it higher through the help of the NY Fed are not one cent richer than they were when this scheme started - the paper gains help sustain the leverage, but they are not real until someone sells, when obviously it all disappears and the leverage brings about even more selling.
If the NY Fed had a reverse repo where they took "cash" and lent you stocks for free (instead of treasuries), would you short stocks or buy stocks? The answer is short. You wouldn't need to buy stocks in the market to cover your margin account with your broker because it would appear that you "own" stocks and are "good" for it - when in fact they were loaned to you and you never owned them.
Better yet, you could be a $2 billion market money market fund and the NY Fed out of the blue would announce (like they did) that they extended your credit line with them from $1 billion to $3 billion!!! WOW, three times as much credit exposure to ALL NY FED clients! If that's not the most relaxed credit standard in the world, I don't know what is.
But, but, the NY Fed takes "cash" from their clients - so it's riskless, right? Ask them for a definition of "cash", particularly when it comes to money market funds!
That's what the NY Fed wanted in the first place when they created reverse repos and claimed it was an exercise of "liquidity draining".
Have to be buying equities here--no lose situation for equities--if economy good stocks wil do well, if bad we always can hyperinflate teh stock market.
now that the companies are using mark to fantasy and non gaap earnings they need a new accounting gimmick to propel earnings growth.
Tyler, I want to know how Goldman's short volatility in gold miners trade is going! :)
This Barroso cunt needs bullets!
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100026365/ba...
That damned diminishing returns thing can really screw up a plan, no?
It seems 50% of the large retailers and manufacturers will be and are already started cutting 20% of production costs! In English that's laying off 20% of their work force.
well, ya see...obama had to deal with some issues with the IRS (no problems now...swept under the rug), Benghazi (no problem now...swept under the rug), Fast and Furious (no problem now...swept under the rug), vacation, vacation, vacation (from all that sweeping he's been doing, phew!), golf, golf, golf, speech (lies), speech (lies), speech (more lies), sweep, sweep, more sweeping...
well, shit...um...man...I mean, hey, this president gig is a full time job of cleaning up messes and sweeping lies under all these rugs, man...they really tie the room together too!
How is he supposed to create jobs when he's gotta do all that other stuff. Besides, the Fed is supposed to create the jobs, man...and like, they were pretty busy printing the money up and pressing CTRL-P all the time. They were busy too, man...
We just need more sweepers and rug cleaners in this country...and if we just raise the minimum wage to 25 Bernero's an hour and supply the Free Shit Army with all the GMO food, obama phones, EBT cards, free rent, free gas, and free vaccination shots, well then the few people left working will still be 100% employed, man.
<rant>For a fine site like ZeroHedge the least you could fucking do is get the English Language shit right. Less jobs? Really? Here, let me edit it for you
It's Official: The US Created Fewer Jobs In 2013 Than 2012There we go. It is a plural kind of thing so you need to use the word fewer. The word less is used in a context where the thing being modified by the adjective is an indistinguishable mass, like say the gasoline that will soon likely be used in Molotov cocktails against the government (fewer for molotov cocktails but less for gasoline) or piss. So, for instance, "Obama Slings Less Piss on the Constitution" might be a valid headline. The idea is that piss is not something where you can identify individual members of the set. Its all a mixed up jumble, so you use the word less. But with jobs, you could theoretically count each individual job and write its characteristics on individual pieces of paper, so you use the word fewer in that context, not the word less. rant off</rant>
Zerohedge is a fine site, but the incorrect usage of "less" and "fewer" hurts my ears, too (and I am not even a native speaker, but no one ever fucks up "little" and "few" in the same way). Now, if you would like to join me on my crusade against incorrect usage of adverbials, I shall name you a fine fellow, sir.
Wow, nitpicking over words.Maybe he was distracted or didn't sleep well. You are obviously so smart that you're FUCKING STUPID,why read anything dickhead you already know it all. You are the perfect assholes.
Job well done Bernanke. Thank you for your service.
good job Barry you fucking reprobate
If I hear some ass-hat economist say "counter-factual" one more time I am going to scream.
Is your company on the list to replace it's US citizen workers with illegal invaders?
If your a working class black,or gay or white or Asian or Latino 'US CITIZEN', any US citizen, you'd better read this:Elections 2014, throw out the RINOs and libs:
Google: Obamacare Loophole Provides Incentive For Employers To Hire Illegal Aliens Over US Citizens.
The letter is available online. Listed here are the names of the companies, their traitorous corporate CEO's are lobbying for 'illegal invasion':
Google: Cheesecake Factory, Hallmark, Disney, and Others Now Pushing ... Sep 12, 2013 DO YOU OR ANYBODY YOU KNOW WORK AT ONE OF THESE COMPANIES? Look what your company's CEO intends to do to your job. Contact them, boycott them WHEN YOU CAN, share this list. Show this list to your buyers and purchasing dept. Show this list to your co-workers going out for lunch. Put this list on your bulletin board at school and work. ... The participating companies mentioned in this article, must be put on notice for their treasonous intentions.Illegal immigration is also about Obamacare.
Fewer.
Not 'less'. 'Fewer'.
Goddammit.
Yes, even basic grammar is in decline.
Your right !
It's a mute point!
hmmmm
Those of us who advocate complete equality for homophones say: Your write!
1 000 000 000 000/1 000 000=1 000 000
Why didn't the fed just mail 1 million lucky recipients 1 million dollars each? Use a big hat with 1 million names in it and pull them all out of the big hat.
Or, 10 million a check for 100 grand?
Or, 100 million 10 grand?
Or, 300 million 3333.33?
Or, 1 billion 1000 dollars?
Or, 5 billion 200 dollars?
Free franking privileges!
the first graph is a classic example of a misleading graph- a difference of 7,000 made to look as if it were huge by not starting the scale at zero.
Surely TPP will fix this!