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"The People On Wall Street Aren't Seeing What's Really Going On In America"

Tyler Durden's picture




 

Today's jobs data was almost 5 standard deviations below Wall Street's best-and-brightest's estimate and has already been dismissed by many as an 'anomaly' or 'unbelievable'. Despite the fact that the National Retail Foundation noted over 17,000 layoffs in August "calling into question how much momentum the economy really has," one member of the public was able to #NailTheNumber on CNBC's great payroll-guessing game. Ronnie Squires explains to a silenced CNBC anchor the real state of America...

 

Apologies for audio quality...

 

The uncomfortable truth...

"I do a lot of traveling around the country and there's still a lot of folks who say 'there's no jobs out there'.

 

I watch [CNBC] every day and I just don't see it.

 

I don't know if the people on Wall Street are not really getting out and seeing what's really going on [in America].

 

When you go to small towns, like I do, and talk to people - people don't have much confidence in the numbers you hear."

 

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Fri, 09/05/2014 - 12:01 | 5184919 corporatewhore
corporatewhore's picture

CON fidence--emphasis: first syllable

Everyone outside of wallstreet knows the emperor has no clothes.

Fri, 09/05/2014 - 12:03 | 5184927 Bloppy
Bloppy's picture

They're blaming the Market Basket walkout in New England for the 17,000 retail job loss figure. But those workers were never terminated so it doesn't make sense.

Elsewhere: Dem Delaware governor tweets image of blonde bondage chick!

http://tinyurl.com/kglrfof


Fri, 09/05/2014 - 12:05 | 5184947 pods
pods's picture

Wall Street works very hard precisely so they don't have to see what is going on with Amerika.

pods

Fri, 09/05/2014 - 12:13 | 5184982 Divided States ...
Divided States of America's picture

But those greedy J-holes on wall street still sees me through their big fuckin noses as a tool who they think they can rob via massive corruption and fraudulent activities. Like Laws always say, nothings gonna change until heads roll off from the guillotine.

Fri, 09/05/2014 - 12:15 | 5185006 NotApplicable
NotApplicable's picture

Wall St. don't care about Main St.

Fri, 09/05/2014 - 12:18 | 5185027 john39
john39's picture

sure they care.  they go through quite a lot of trouble to ensure that average people remain ignorant and enslaved via their paper money usury games...

then again, maybe care isn't the right word...

Fri, 09/05/2014 - 12:26 | 5185057 lordylord
lordylord's picture

The job market isn't great, but there are jobs to be had.  You have to wonder about the anyone out of work for 99+ wks.  It's kind of like the woman who's always compaining that they can't find a man.  Maybe it's time for these people to look at themselves and not the job market.

Fri, 09/05/2014 - 12:37 | 5185120 DeadFred
DeadFred's picture

Dear Abby correctly stated that any woman can find a man if she sets her standards low enough but government regulations, minimum wage, and government support have put an artificial limit on how far the job seeker's standards can or will be dropped.

Fri, 09/05/2014 - 12:47 | 5185131 lordylord
lordylord's picture

See, you are deflecting blame away from the long-term unemployed.  That's not helpful.   It is time to evaluate one's value in the current job market and make changes accordingly.  FYI, I see plently of help wanted signs in my city for the "less desirable" positions.  People just aren't willing to take these jobs, relocate, or learn new skils.

I agree that government is probably the biggest detriment to the economy, but until people wise up and start voting for the right people, they have to fit into the "new economy".

Fri, 09/05/2014 - 12:47 | 5185161 corporatewhore
corporatewhore's picture

you are correct.  there are jobs and many haven't made the realization that they'll now have to settle for minimum wage, minimum benefits, below 40 hours, work like a dog and can still be fired.  enjoy the new economy bitches and deal with it.

and god help you if you have to deal with the self centered and self important American consumer who may still have some money to burn.  they're fucking assholes.

Fri, 09/05/2014 - 13:06 | 5185267 Landrew
Landrew's picture

You can tell that guy thinks it's a great day to have four part time, no benefit jobs to hang on to what little you left. THERE ARE PLENTY OF JOBS, YOU CAN HAVE SIX OF THEM! Ever wonder why even E-Bay sellers struggle to sell, with people selling all they own for nothing.

Fri, 09/05/2014 - 13:20 | 5185351 lordylord
lordylord's picture

1.  No one is entitled to a life of luxury and leisure

2.  You reap what you sow.  The American voters are now experiencing what voting for the same Dems and Republicans for 100 years does.

Fri, 09/05/2014 - 13:23 | 5185371 Soul Glow
Soul Glow's picture

I found this man more elequent then anybody on that damned news show.

Fri, 09/05/2014 - 13:26 | 5185380 lordylord
lordylord's picture

Thank you.

Fri, 09/05/2014 - 13:40 | 5185471 markmotive
markmotive's picture

Employment to population ratio is rising again...

http://www.planbeconomics.com/2014/09/employment-to-population-ratio-cli...

Fri, 09/05/2014 - 14:00 | 5185566 onewayticket2
onewayticket2's picture

BLOPPY.

supporting your post and mine from earlier, i believe that Market Basket issue has been resolved....and those 17k will be added in next month - right before the election.

Fri, 09/05/2014 - 14:57 | 5185873 Soul Glow
Soul Glow's picture

Revisions are always negative because of the BIS bias.  Always.

Fri, 09/05/2014 - 15:47 | 5186030 Shocker
Shocker's picture

Yes they do

Layoff List: http://www.dailyjobcuts.com

-

-

Fri, 09/05/2014 - 22:38 | 5187433 Drunk In Church
Drunk In Church's picture

Wallstreet loves a bad labor report.  That way Yellen will keep giving the banksters free money.  But the gig is up.  The DOW won't break 18,000.

Fri, 09/05/2014 - 14:00 | 5185567 DOT
DOT's picture

That chart looks like one of a company that has gone into bankruptcy!

 

Fri, 09/05/2014 - 13:25 | 5185381 SAT 800
SAT 800's picture

Now you want to blame the people for voting for the only people that were available to vote for; are you an idiot?

Fri, 09/05/2014 - 13:43 | 5185488 lordylord
lordylord's picture

Don't give me that BS.  I remeber Gary Johnson on the ballot and 1% voted for him.  I'm not saying Gary is the savior of this country, but he wouldn't have just continued the same failed policies as Bush and Obama.

Fri, 09/05/2014 - 14:52 | 5185850 J Pancreas
J Pancreas's picture

Gary Johnson voter here. Mittens won my state anyway. I realized I'm just going to stop voting and pray this rotten system implodes as soon as possible. 

Fri, 09/05/2014 - 15:48 | 5186111 pods
pods's picture

Last time I voted, it was for a guy with a porno stash. (Barr)

pods

Fri, 09/05/2014 - 13:27 | 5185391 walküre
walküre's picture

oh lordy lord... where to even begin with you?

Americans are not free people, have no free elections and their important governments are certainly never freely "elected".

America as a whole is one big conspiracy of the elite. It's no longer a secret.

 

Fri, 09/05/2014 - 13:42 | 5185485 lordylord
lordylord's picture

Don't give me that BS.  I remeber Gary Johnson on the ballot and 1% voted for him.  I'm not saying Gary is the savior of this country, but he wouldn't have just continued the same failed policies as Bush and Obama. 

Fri, 09/05/2014 - 13:46 | 5185503 NemoDeNovo
NemoDeNovo's picture

and you know this how?  That's quite a bit of speculation on your part IMO, you seem to still beLIEve that 'we' can change the system by little more then casting a ballot.  Obviously you have very little insight inot to human nature I am afraid.

Fri, 09/05/2014 - 13:53 | 5185536 lordylord
lordylord's picture

It's not speculation.  Gary Johnson ran for president and didn't keep his intentions secret as to what he would do as president.  If we elect true conservatives with libertarian values, things would change.

Fri, 09/05/2014 - 14:33 | 5185729 A82EBA
A82EBA's picture

too many voters dependant on govt..like 46 million..self-reinforcing pos feedback loop

Fri, 09/05/2014 - 13:55 | 5185548 WillyGroper
WillyGroper's picture

I remeber Ralph Nader being on the ballot & threatened with arrest for trying to gain admission to the presidential debates while having a valid admission ticket.

You're really a piece of work.

Fri, 09/05/2014 - 14:05 | 5185575 lordylord
lordylord's picture

I'm a piece of work?  For what?  You criticize and marginalize me for advocating voting for a 3rd party.  You are just as bad as the men who threatened Nader with arrest.  You have become the men you hate.  They got you to do exactly what they wanted...to marginalize anyone who advocates a 3rd party.  THE IRONY IS LAUGHABLE!!!

Fri, 09/05/2014 - 14:13 | 5185635 lordylord
lordylord's picture

This board seems to be flooded with government paid trolls.

Fri, 09/05/2014 - 14:32 | 5185717 Dame Ednas Possum
Dame Ednas Possum's picture

Man...you just don't fucking get it.

It wouldn't matter if Fozzie Bear was president...THE GUY IN THE OVAL OFFICE IS NOT IN CHARGE.

YOUR VOTE ISN'T WORTH A SQUIRT OF PISS.

Fri, 09/05/2014 - 14:37 | 5185756 lordylord
lordylord's picture

Psssst.  You also elect your reps too.  You know, the guys who write and pass the laws.  You seem to be the one who doesn't get it.  Are you paid by the government to spread this shit and to discourage people?  FYI, it doesn't work on people like me.

Sat, 09/06/2014 - 00:51 | 5187634 Dame Ednas Possum
Dame Ednas Possum's picture

Psssst...you dopey prick.

I'm not American. I don't live in America. I shun the American culture of greed, lies, deception and arrogance. In fact, I prefer to avoid bombastic, overbearing and ignorant American majority (although I do also have some very good American friends who are generally ashamed of their country's current demeanour). And I sure as hell wouldn't take any money from that criminal regime puppeteered by Nazionists.

No doubt you're now thinking that I, as not one of the chosen people, should keep my opinions to myself...and I would happily, except in the case of the exceptional and indispensable America and their largely unwelcome intervention in the affairs of others and their manipulation of geopolitical events and economics...WE don't have a choice but to voice dissent.

So it is you sir, who doesn't fucking get it. You and the system you clearly support has become the laughing stock of our planet and the human race.

Time to pull your head out of your arse.

Sat, 09/06/2014 - 10:42 | 5188098 MontgomeryScott
MontgomeryScott's picture

It's difficult to impress on those (who think that the political system in the CONUS runs things) that they have no idesa of how the world works.

Who writes environmental codes? The E.P.A. Are they elected? NO.

Who wrote the Obamacare legislation (not who VOTED on it, who WROTE it? Lobbyists for big pharma along with insurance company lobbyists AND banking interests. Were they ELECTED? NO.

Who wrote USAPATRIOT? That bill was written MONTHS before 9/11. Let's see... that one is a good question, actually. Was it lobbyists for the M.I.C. in collusion with members of the PNAC? Of course, no one in Congress actually bothered to READ the act before they voted on it (except for perhaps Ron Paul)...

Of course, there are 'marks' within Congress whose buds and donors give them the legislation that really effects the nation; that they 'introduce'. There is 'vote-trading' (you vote for mine and I'll vote for yours). There is also 'insider trading' (Nancy Pelosi and her husband...). And then, there's AIPAC. AIPAC says 'jump', and Congress levitates.

Selected politicians are (by and large) simply puppets and figureheads.It has made NO DIFFERENCE who is 'selected' in the past 60 years or so. the course hasn't changed. It won't matter who is 'selected' next time.

It's all about MONEY and POWER and AVARICE and DEALS in D.C.

Ultimately, it's the CENTRAL BANKING OLIGARCHY that actually runs the show (without THEM, there is NO FREE MONEY). They are above the Constitution, outside the 'oversight' of Congress, and truly the seat of all power. WALL STREET is simply an extention of the FED, and they are the power base. They make decisions that dictate who eats and who doesn't; who works and who starves; who lives and who DIES. the PRESIDENT and CONGRESS do what THEY SAY; because of MONEY.

WALL STREET and D.C. don't understand, because THEY ARE NOT OPERATING WITHIN THE CONFINES OF THE CONSTITUTION.

Perhaps this explanation will help those who still don't get it.

Fri, 09/05/2014 - 22:40 | 5187427 WillyGroper
WillyGroper's picture

First off, I saw no mention of any 3rd party in your post & know fuck all about WTF Gary Johnson is. 

You compare me with a cop?

Did I mention "hating" anyone?

Who's they?

You're in need of some serious mood stabilizers, thorazine.


Sat, 09/06/2014 - 02:38 | 5187770 Miggy
Miggy's picture

No one is entitled to a life of luxury and leisure true. But how much inflation, unsecured boarders bringing in all sorts of low wage laborors keeping wages stagnant, offshoring of manufacturing leveling places like Detroit and blue collar cities all across America, usury of financial institutions, repealing of good laws like glass-steagall, taxes out of control and too complicated do we have to take?

 

Its easy to see your post is to get the pulse of the readers of this board.

 

The best thing is go get right with God through His Son Jesus Christ anyway. 100 years happens to all of us and each one will have to answer for our deads, even those in secret.

Fri, 09/05/2014 - 13:25 | 5185377 corporatewhore
corporatewhore's picture

i used to be like that guy, totally rush-limbaughed out, totally conservative Republican voter making big bucks and enjoying life.  Come 2008 downsized and eliminated. Lost everything at age 58.  Cobbled together 3 part time, no benefits.  i have a totally different perspective now

my fervent wish is that karma is a bitch.

Sat, 09/06/2014 - 03:29 | 5187795 mc225
mc225's picture

yeah it's tough. i think it's tough. other people say it's not that tough. i don't know. it seems rather tough. once you get into your 50s, job-retraining and all of that will only take a person so far. industry is looking for younger, more obedient (less pushback) employees. as a 50s person, it's tough to break out of warehouse or fast food, etc. like i said, retraining might not even be that viable by this point. so a person has to figure out what to do, in order to get 'cash flow', or to live entirely without cash (dumpster diving like in a benny hill skit, but without the chicks in garter belts?). people who are in their 50s and 60s and still getting paid; they have no idea how tough it can be for those of us who have 'fallen through the cracks' a bit...  permdis actually looks like a step up from here...

Sat, 09/06/2014 - 10:39 | 5188094 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

no severeance?

Fri, 09/05/2014 - 13:01 | 5185238 Blues Traveler
Blues Traveler's picture

Your confusing jobs with despair opportunities

Fri, 09/05/2014 - 13:22 | 5185363 lordylord
lordylord's picture

I'll reiterate since this is very important:

1.  No one is entitled to a life of luxury and leisure.

2.  You reap what you sow.  The American voters are now experiencing what voting for the same Dems and Republicans for 100 years does.

Fri, 09/05/2014 - 13:29 | 5185399 lunaticfringe
lunaticfringe's picture

I greened ya on both posts. You get it. 2016's version will be anothe elite, selfish cocksucker, chosen by the majoirty of idiots who continue to vote for pathological liars. Doesn't matter. This pooch is screwed.

Fri, 09/05/2014 - 13:46 | 5185501 DollarMenu
DollarMenu's picture

The 'winner' of the elections has nothing to do with the voters.

The slate has been prepared and approved, the 'elections' have already been decided.

Bit players may be given a small fenced area to compete in, but the main actors have been chosen.

All that remains is the build up and the dramatic finish, to be provided by compliant media.

Fri, 09/05/2014 - 13:49 | 5185521 lordylord
lordylord's picture

And how is that not the American voter's fault? "Eternal vigilance is the price of liberty."

Sat, 09/06/2014 - 18:14 | 5189079 Tall Tom
Tall Tom's picture

You remind me of the thief whot steals from others and then justifies your crime by claiming that it was just too easy.

 

By the way...Spilled blood is the price for Liberty. Eternal vigilance allows one to keep it.

 

And I am ever vigilant by tracking posts as yours.

 

Blood will be spilled when the time becomes right.

 

Other than that I do not mind taking a psychopath, or two, on a hunting expedition...

 

Here is my address...

 

 

12223B Woodside Avenue

Lakeside, CA 92040 USA

 

What is yours?

Fri, 09/05/2014 - 15:14 | 5185936 Andre
Andre's picture

1. Vote fraud in the US is an established fact. After Diebold gets finished counting, the results are what "they" want.

2. You can only vote for the candidates provided on the ballot. Control the ballot, you control the results.

Sat, 09/06/2014 - 00:57 | 5187652 Dame Ednas Possum
Dame Ednas Possum's picture

100% agreement.

But everybody is entitled to the opportunity to make provision for themselves and their family. It is a human right.

There is a big difference between 'luxury and leisure' and feeding oneself.

The system on the other hand is designed to screw people and this has serious ramifications.

Note: your '100 years' of Dem/Rep is in fact 213 years of pretty much one or the other since Jefferson...clearly proving that it doesn't matter which political party is in the office because the people truly in power are not elected by the people for the people.

Fri, 09/05/2014 - 13:21 | 5185357 Duffy
Duffy's picture

I guess we're a long way from Henry Ford paying his workers enough to buy his products.

 

Squeeze as much as you an out of 'em and let people who work for investment firms and hedge funds - noncontributing fucks all - make tens of millions.

 

In the long run, we'll have an economy based on people delivering pizzas to one another.

Fri, 09/05/2014 - 14:19 | 5185667 Ms. Erable
Ms. Erable's picture

The long run is pretty much here. You want extra cheese on that?

Fri, 09/05/2014 - 15:50 | 5186124 homebody
homebody's picture

Atlas Shrugged

Fri, 09/05/2014 - 12:57 | 5185207 SAT 800
SAT 800's picture

I'm 72 years old, I've seen economies that were functioning and economies that weren't functioning; and I won't have your blaming the victims for being un-employed; I won't have it, sir. It's wrong.

Fri, 09/05/2014 - 13:40 | 5185462 zuuma
zuuma's picture

So your cheese was moved, then.

By Who??

Fri, 09/05/2014 - 14:13 | 5185637 MrSteve
MrSteve's picture

By whom...cheeseless one.

Sat, 09/06/2014 - 08:58 | 5187969 Martian Moon
Martian Moon's picture

ZH

Come for the articles

Stay for the humour

Fri, 09/05/2014 - 15:37 | 5186050 Ruffmuff
Ruffmuff's picture

See no evil,be no evil, so the circus monkeys say.

SO what I'm 55, another old fart. You want a bozo button? Perhaps an Oscar Meyer wiener whistle will do?

For 55 years I've seen the same old shit.  JUst growing to expect the same old shit. Shit, seems like I'm repeating myself.

Fri, 09/05/2014 - 15:55 | 5186138 homebody
homebody's picture

If you want all the cheese you got to pay - otherwise just step away

Fri, 09/05/2014 - 22:09 | 5187360 August
August's picture

@SAT800

As you are age 72, my respect for your moniker has increased.

Apparently not one of dumb bunny test-takers, post SAT "reform".

Fri, 09/05/2014 - 14:49 | 5185820 papaswamp
papaswamp's picture

There are ~4.6 million job openings ( lets assume they are all full time , ok wage). There are 25 million 25-54 yr olds not working... Its worse in the other age catagories. Simple math...way too many workers.

Fri, 09/05/2014 - 17:11 | 5186478 AGuy
AGuy's picture

"There are ~4.6 million job openings ( lets assume they are all full time , ok wage). There are 25 million 25-54 yr olds not working.."

This problem can be easily solved with hyper-inflation. Everyone from 5 to 95 gets a job whether if the want one or not!  /sarc

"Its worse in the other age catagories. Simple math...way too many workers. "

Not enough cheap energy available to support the western economy and lifestyle. Most Americans don't want to do labor intensive jobs. Consider that probably a million new illegals will poured into the US  this year and everyone of them will find a job. However since most Americans have entitlements or weath fare to fall back on, there is no reason for them to become day-laborers or seek the jobs that illegals do.

 

Sat, 09/06/2014 - 11:55 | 5188256 dot_bust
dot_bust's picture

What jobs?

Retail chains are closing. Restaurants are closing. Big businesses are doing mass layoffs.

2014 Retail Stores Closing, Going Out of Business, Filing Bankruptcy
http://retailindustry.about.com/od/USRetailStoreClosingInfoFAQs/fl/All-2...

Here's the list from the article:

Complete List of U.S. Retailers Closing Stores, Going, Bankrupt, and Going Out of Business in 2014:

400    Office Depot/Max (by 2016)

 

370    Family Dollar

 

365    Coldwater Creek

 

360    Dots

 

300    Blockbuster

 

300    Sears

 

225    Staples (through 2015)

 

223    Barnes & Noble (through 2023)

 

200    Radio Shack (through 2017)

 

180    Abercrombie & Fitch (by 2015)

 

175    Aeropostale (“over the next several years”)

 

170    Jones Group (by mid-2014 )

 

155    Sbarro

 

150    American Eagle Outfitters (through 2017)

 

150    Rent-A-Center

 

145    Brown Shoes / Famous Footwear

 

128    GameStop

 

125    Children’s Place

 

125    P.S. from Aeropostale

 

100    Advance Auto

 

100    Crocs

 

91      Blockbuster (UK)

 

80      Wolverine World Wide (2015 - Strike Rite & Keds)

 

80       Kmart

 

76       EE

 

76       Walgreens

 

75       7-Eleven

 

74       McDonald's (Japan)

 

73       Liquidation World (Big Lots Canada)

 

70       Coach (fiscal 2015)

 

70       Juicy Couture

 

65       Fastenal

 

63       Build-A-Bear (through 2014)

 

60       Aaron's

 

60      Crumbs Bake Shop

 

60      Wolverine World Wide (Stride Rite and Keds)

 

55      Sprint

 

54      Destination Maternity

 

54      Golf Galaxy (by 2016)

 

50      Express (through 2015)

 

50      Kitchen Collection

 

42      Edwin Watts Golf

 

42      Fresh & Green's

 

39     Loehman's

 

33     Archiver's

 

33     JCPenney

 

26     Albertson's

 

26     Wet Seal

 

25     Build-A-Bear (through 2015)

 

25     Papa John’s

 

25     Yankee One Dollar Stores

 

22     Homemade Pizza Co.

 

20     Barnes & Noble

 

20     Delhaize

 

20     Gilly Hicks

 

20     SONY

 

18     ALCO

 

17     Cato

 

16     2b (bebe)

 

15     Office Depot

 

12     Peet’s Coffee & Tea

 

12     Target

 

11     American TV & Appliance

 

10     Ann Taylor

 

9       Rainbow’s Supermarkets

 

8       Long John Silver's 

 

7       Noni B

 

7       OfficeMax

 

7       Rite Aid

 

6       Arby’s

 

6       Cord Camera

 

6       Denny’s

 

5       Bi-Lo

 

5       Macy's

 

5       Mattress Source

 

4       Jack in the Box

 

4      Len Druskin

 

4      Meat House

 

4      Sprint Gas Stations

 

3      Ace Hardware

 

3      ACO Hardware

 

3      Books-A-Million

 

3      Carls Furniture

 

3      Champps Americana

 

3      Williams-Sonoma

 

2      Arden B

 

2      Best Buy

 

2      Book World

 

2      Design Spree

 

2      Dickey’s Barbecue Pit

 

2      Dillons Grocery Stores

 

2      Finger Furniture

 

2      Fresh Pride

 

2      Haverty’s

 

2      JMR Chalk Garden

 

2      Kroger

 

2      Lolabella Boutique

 

2      My Favorite Toy Store

 

2      Nordstrom

 

2      Piggly Wiggly

 

2      Powell’s Books

 

2      Rainbow Foods

 

2      Safeway

 

2      Weis Markets

Cisco is laying off up to 8% of its employees
http://money.cnn.com/2014/08/13/technology/cisco-layoffs/

Microsoft Layoffs Would Be the Fourth-Biggest in Tech’s Modern History
http://www.slate.com/blogs/moneybox/2014/07/18/microsoft_cuts_18_000_job...

So, cut the shit and stuff the corporate propaganda up your ass. There are NO jobs, not even low-paying jobs.

And don't blame the victims for being victimized. Don't give me that crap about people just being lazy. 

Fri, 09/05/2014 - 12:22 | 5185066 max2205
max2205's picture

Geet it Folks!

Fri, 09/05/2014 - 12:30 | 5185091 El Vaquero
El Vaquero's picture

When you look at the very definition of U3 unemployment, it's obvious that its bullshit.  It only works during good (i.e. there's real growth) times and short duration bad times.  People are getting rolled out of the lbaor force left and right.  Thus, they are out of work, but they're not counted as unemployed.

Fri, 09/05/2014 - 12:36 | 5185097 lordylord
lordylord's picture

"it's obvious that its bullshit."

Are you telling us that government statistics are BS?  That can't be true.  Shit, if someone from the government told me today was the 5th of September, I'd find a calender just to make sure.

Fri, 09/05/2014 - 12:40 | 5185138 El Vaquero
El Vaquero's picture

Something changed in 2008.

 

http://research.stlouisfed.org/fred2/graph/?id=LNU01300000,UNRATENSA,

 

Maybe the "best and brightest" on Wall Street should look at that graph from 2008 on and adjust their models.  I cannot predict if there will be a war or another financial crisis within the next 12 months, but so long as things remain the same, I bet that I could predict unemployment in that timeframe.

Fri, 09/05/2014 - 14:17 | 5185653 PT
PT's picture

The difference is that back in the seventies, one man could earn enough money to pay for a house, a car, a wife and kids and a dog (which was probably a labrador).  If the wife worked, the house was paid off in seven years, not thirty.

These days the dog is probably roughly the same size as a rat, and still hasn't got enough room in his back yard to run around in.

Fri, 09/05/2014 - 13:00 | 5185226 SAT 800
SAT 800's picture

Propaganda--"Our most important product".

Fri, 09/05/2014 - 13:09 | 5185282 Landrew
Landrew's picture

You are still an asshole. Even though in this case you are very right.

Fri, 09/05/2014 - 13:28 | 5185396 SAT 800
SAT 800's picture

???

Fri, 09/05/2014 - 12:23 | 5185072 venturen
venturen's picture

Washington does care about Main St!

Fri, 09/05/2014 - 13:41 | 5185481 Dame Ednas Possum
Dame Ednas Possum's picture

Washington couldn't give a flying fuck about Main St.

There, fixed it for ya.

Fri, 09/05/2014 - 16:21 | 5186264 messymerry
messymerry's picture

...and I would like to dedicate the next song to all my wall st. wanker buds:  Everything you do, you do it for you... 

Fri, 09/05/2014 - 12:16 | 5185010 SoilMyselfRotten
SoilMyselfRotten's picture

Not surprising, winter is only a few months away

Fri, 09/05/2014 - 12:15 | 5185013 power steering
power steering's picture

Yawn. Time for a Ukraine update. They still marching in Fergurson?

Fri, 09/05/2014 - 12:26 | 5185077 pods
pods's picture

Waiting for another pic dump of our finest entertainers.

pods

Sat, 09/06/2014 - 09:01 | 5187973 zeronero
zeronero's picture

How's that racism working out for ya moron? Think it will get you off welfare? Think again clown.

Fri, 09/05/2014 - 13:40 | 5185424 Dame Ednas Possum
Dame Ednas Possum's picture

Yes - i can imagine the scum on wall street aren't too interested in getting out to the small towns and truck stops to speak with human beings.

In fact the on a typical night of whoring, blow and champagne a WS banker probably lays down the equivalent of what the very decent man has earned since his semi-retirement.

Unfortunately this gentleman is just one of the many millions of good, honest citizens who is getting screwed by the system.

And do the bankers care? Hell no...he (and you and I) are simple cattle in their minds.

I hate to say it...but Ronnie and his kind are fools. Looking to the TV for their opinions. Trusting that .Gov cares about them. Taking it up the arse.

Ronnie. Get angry. Spread the word.

Fri, 09/05/2014 - 15:56 | 5186144 RockyRacoon
RockyRacoon's picture

Did you hear what the man said?  He "looked at the TV" and heard the numbers and decided they were bunk.

What more can the guy do but keep moving so he can feed himself?   Don't be too harsh on the nearly helpless who are being squashed by the Wall Street bulldozer.

Sat, 09/06/2014 - 01:04 | 5187665 Dame Ednas Possum
Dame Ednas Possum's picture

Certainly. I do sympathise.

Fri, 09/05/2014 - 15:27 | 5185999 markpower49
markpower49's picture

For electing Obama and continuing to support a corrupt welfare / warfare state, I hope to see Americans starve in the street.

Fri, 09/05/2014 - 22:16 | 5187377 August
August's picture

>>>I hope to see Americans starve in the street.

All I want to see is justice.

 

Be very afraid.

Fri, 09/05/2014 - 17:10 | 5186473 Reptil
Reptil's picture

Exactly.. this all is not "an unhappy coincidence" at all.

Fri, 09/05/2014 - 13:40 | 5185467 rabbitusvomitus
rabbitusvomitus's picture

None of roughly 25,000 employees were eligible for unemployment; they were never fired or laid off nor did they quit. The employees just sucked it up and lived off of their savings/family help. How then can you, with a straight face, bake them into the cake?

This fucking analysis gets more and more ridiculous every day. Anything that can be bent to justify further ramping of equities is sought out with almost a religious fervor. 

Meanwhile, they're looking for a way to write off the thousand of AC Casino workers who lost their jobs this week.  Oh well BTFD and hide the sharp pointy objects so the bubble can grow a bit larger.... After all, It's different this time...

Fri, 09/05/2014 - 12:04 | 5184944 Syrin
Syrin's picture

Yeah, but have you seen the DOW ?!?!?!   Bow to the DOW heathen !

Fri, 09/05/2014 - 17:15 | 5186491 Reptil
Fri, 09/05/2014 - 12:22 | 5185058 Freddie
Freddie's picture

 I watch [CNBC] every day and I just don't see it.

Kind of says it all.  Amerikuns are idiots who watch TV and Hollywood's shit like fools.  Unplug the TV and Hollywood and maybe you might stop being a serf.  Your viewership keeps these people in power.

I would bet 70% of ZH posters still watch TV like suckers.

Fri, 09/05/2014 - 12:41 | 5185140 vulcanraven
vulcanraven's picture

Unplugged over 4 years ago myself. DirecTV has been hunting me for 150 bucks on an unpaid bill since then, hilarious.

Fri, 09/05/2014 - 13:20 | 5185347 badnews...buyspus
badnews...buyspus's picture

vulcanraven, hilarious. Those scum bags have hounded me for 3 years myself - moved into a cave that won't allow satelites, but they don't care.  I owed less then $60 (early termination fee was even netted against a debit balance) and they must have spent close to $200 trying to collect - which will be NEVER.

Large corporations are doomed in the long run - just like large countries (USSR).

 

Fri, 09/05/2014 - 21:43 | 5187299 OldPhart
OldPhart's picture

Can't say I'm totally clean...wife and son watch all the shitty shows.  I hang out on line looking for news from around the world every night until they go to bed.  Then I put on a movie channel.

Fri, 09/05/2014 - 13:14 | 5185315 Landrew
Landrew's picture

Seems you don't read very well. I would doubt 30% believe media. Even the people I strongly disagree with here, I know are some of the brightest people around. They take their own data and do their own homework. We learn from each other.

Fri, 09/05/2014 - 13:34 | 5185435 Dame Ednas Possum
Dame Ednas Possum's picture

I have not watched TV for 25 years.

It ensures I am able to think.

Fri, 09/05/2014 - 14:49 | 5185816 RallyRoundTheFamily
RallyRoundTheFamily's picture

Been clean for 4 years now.

I will never give those whores another penny for their programming.

Sat, 09/06/2014 - 11:15 | 5188169 Moustache Rides
Moustache Rides's picture

You can still watch TV.  You just have to be aware that it's all bullshit programming.  I pay for netflix, that's it.  I can analyze the symbolism and point out the psychological programming better than most I would say.  I consider it prudent to know how all the sheep's mind's are being shaped in order to protect myself and family.  Also, you can still scrape a little enjoyment out of some of the media that exists out there today.  So you don't have to kill your television.  Just don't be a non-critical thinking moron.

Sat, 09/06/2014 - 22:26 | 5189633 Wild tree
Wild tree's picture

Unplugged when teeveee went digital; not enough incentive for me to own cable or sky view. I like to form my own opinions, and not ingest pablum. Pink slime is hard enough.

Fri, 09/05/2014 - 12:25 | 5185076 Dr Strangemember
Dr Strangemember's picture

I'm not as familiar with Ronnie Squires as much as I am with his brother, Billy.

Fri, 09/05/2014 - 14:13 | 5185639 StupidEarthlings
StupidEarthlings's picture

I agree.. well to a point. 

Wall st DOES know. Obviously they cant talk about it tho. So they try to sell the story. Is this a surprise all of the sudden?

Fri, 09/05/2014 - 21:18 | 5187234 Greater Fool
Greater Fool's picture

Um...everyone INSIDE Wall Street also knows the emperor has no clothes. The difference is, those people have figured out how to profit from his nakedness.

Fri, 09/05/2014 - 12:02 | 5184925 1stepcloser
1stepcloser's picture

Yep, I'd jump in a fox hole with ole Ronnie any day!

Fri, 09/05/2014 - 12:13 | 5184992 booboo
booboo's picture

Ronnie Squires needs to stay away from used nail guns, they are so unpredictable.

 

Fri, 09/05/2014 - 12:18 | 5185034 power steering
power steering's picture

I've got a fruit bat farm up for sale on Craig's List. Think he might  be interested?

Fri, 09/05/2014 - 12:32 | 5185098 booboo
booboo's picture

No, you are the bag holder on that one.

Fri, 09/05/2014 - 13:20 | 5185354 knukles
knukles's picture

'Prolly a buyer over yonder West Africa way

Fri, 09/05/2014 - 12:05 | 5184926 alexcojones
alexcojones's picture

Perps on wall Street know EXACTLY what they are doing.

They have their Perp in the WH, perps in the Pentagram, etc.

And they could care LESS about you and me- especially with this sort of thing.

Man Crosses U.S. Border Dressed as ISIS Terrorist, Simulates Beheading
Fri, 09/05/2014 - 13:07 | 5185271 SAT 800
SAT 800's picture

Gotta keep an eye on those Pentagrams, alright; they can get out of hand real easy.

Fri, 09/05/2014 - 12:03 | 5184931 Truther
Truther's picture

Fuck CNBC

Fri, 09/05/2014 - 12:04 | 5184939 Syrin
Syrin's picture

Fuck MSNBCBSFox

Fri, 09/05/2014 - 12:08 | 5184958 Postal
Postal's picture

Now why would I do that? I have better uses for my manhood.

Fri, 09/05/2014 - 12:09 | 5184965 Otto Zitte
Otto Zitte's picture

Kill your TV. Fuck your friends.

Fri, 09/05/2014 - 13:09 | 5185278 SAT 800
SAT 800's picture

LOL.

Fri, 09/05/2014 - 12:11 | 5184981 Chupacabra-322
Chupacabra-322's picture

Fuck the establishment.

Fri, 09/05/2014 - 12:15 | 5185014 Coletrane
Coletrane's picture

You dont fuck the establishment.

The establishment fucks YOU !!

Fri, 09/05/2014 - 13:21 | 5185353 Chupacabra-322
Chupacabra-322's picture

What, no lube?

Fri, 09/05/2014 - 14:23 | 5185682 Ms. Erable
Ms. Erable's picture

Yeah - habanero sauce.

Fri, 09/05/2014 - 12:17 | 5185024 SoilMyselfRotten
SoilMyselfRotten's picture

Maybe Becky Quick if she kept her mouth closed

Fri, 09/05/2014 - 12:20 | 5185045 power steering
power steering's picture

You don't want to cross swords with the Dairy Queen. No sir.

Fri, 09/05/2014 - 13:23 | 5185369 knukles
knukles's picture

Anybody but me ever notice her facial expressions pre and post orthodontia?
Used to smile with her top lip covering her teeth.... was terribly self-conscious about it.

Fri, 09/05/2014 - 12:32 | 5185100 Ward cleaver
Ward cleaver's picture

Hands Up: which more important, cnbc or
housewives of OC?

Fri, 09/05/2014 - 12:03 | 5184932 i_call_you_my_base
i_call_you_my_base's picture

They probably know, they just don't care.

Fri, 09/05/2014 - 12:03 | 5184937 LawsofPhysics
LawsofPhysics's picture

Please, in today's world, the people who "work" on wall street don't produce anything of real value to the average american.

it is what it is.

Fri, 09/05/2014 - 12:23 | 5185068 venturen
venturen's picture

Well except when it breaks and costs you $10 TRILLION DOLLARS to save them

Fri, 09/05/2014 - 12:28 | 5185082 LawsofPhysics
LawsofPhysics's picture

Again, I never consented to "save them" to begin with asshat.

Nor will it change the fact that we produce things of real value essential to survival.  We will be just fine and still have plenty of customers.

Get long sharecropping, beat the rush.

Fri, 09/05/2014 - 12:33 | 5185107 El Vaquero
El Vaquero's picture

Consent?  Pfffft.  They're oligarchs.  What is this "consent" that you speak of.  They're going to take what they're going to take, unless we take their heads.

Fri, 09/05/2014 - 12:38 | 5185124 LawsofPhysics
LawsofPhysics's picture

Well from a business standpoint, if they can't run an honest business and need a fucking bailout, then they should be allowed to FAIL.

Fri, 09/05/2014 - 12:44 | 5185149 El Vaquero
El Vaquero's picture

That's how you and I want the world to work.  Given donations of the right nature, I would be willing to build a guillotine that is on a rolling chassis, with a trailer hitch.  If we want the world to work that way, we're going to have to make it so.

Fri, 09/05/2014 - 12:59 | 5185216 Mike in GA
Mike in GA's picture

Too visible.  Try a sharp machete.  It's all the rage.

Fri, 09/05/2014 - 13:00 | 5185227 El Vaquero
El Vaquero's picture

With enough people behind you, the visibility would be desireable.  We could start a national tour.  First stop, California.  Then Illinois, NY, and finally DC.  Hitting K Street would be more important than hitting Capitol Hill.

Fri, 09/05/2014 - 14:58 | 5185879 knowshitsurelock
knowshitsurelock's picture

I hear nail guns are on sale at Home Depot.

Fri, 09/05/2014 - 15:02 | 5185892 PrecipiceWatching
PrecipiceWatching's picture

Why "sharecropping".

 

Wouldn't it be better and much more secure to actually own the land?

Fri, 09/05/2014 - 12:28 | 5185084 Ward cleaver
Ward cleaver's picture

Not true; We develop Financial Con Games

Fri, 09/05/2014 - 13:51 | 5185534 Charles Nelson ...
Charles Nelson Reilly's picture

Who is John Galt?

Fri, 09/05/2014 - 14:43 | 5185788 A82EBA
A82EBA's picture

he got transfered to pacific rim by clinton/rubin

Fri, 09/05/2014 - 12:07 | 5184951 AccreditedEYE
AccreditedEYE's picture

This guy doesn't have a PhD.. what can he possibly know? Clearly not buying the dip either.

Fri, 09/05/2014 - 12:23 | 5185060 scraping_by
scraping_by's picture

Yeah, and no suit and tie, either. You're not real if you don't dress in clothes that interfere with manual labor.

Fri, 09/05/2014 - 12:08 | 5184961 buzzsaw99
buzzsaw99's picture

cnbc is irrelevant

Fri, 09/05/2014 - 12:19 | 5185042 Bay of Pigs
Bay of Pigs's picture

What ever happened to cdad?

Loved his BlowHorn [CNBC] reference.

Fri, 09/05/2014 - 12:12 | 5184966 q99x2
q99x2's picture

Uh video dude you may not know this but we are in WWIII. Financial markets are controlled by central bank software applications. The military is controlled by the NATO. The nation-state of America is being merged with Mexico. What used to be the United States of America and the EU is under heavy asymmetrical warfare by the NWO. So what the hell are you talking about?

Fri, 09/05/2014 - 12:08 | 5184969 Fiat agnostic
Fiat agnostic's picture

So CNBC has an agenda - tell me something I don't know...

Fri, 09/05/2014 - 12:28 | 5185080 scraping_by
scraping_by's picture

They have a product - buy side enthusiasm. Spice it with a little reality, like throwing a little pepper in a sweet sauce, and you create more interest. Investor's palates are jaded from unrelieved rah rah.

Fri, 09/05/2014 - 12:09 | 5184972 Seasmoke
Seasmoke's picture

We are only 5 days into September and New Jersey already lost 6,000 jobs in Atlantic City, with many more to come. 

Fri, 09/05/2014 - 13:28 | 5185393 knukles
knukles's picture

But being highly trained casino employees.... waitresses, bartenders, card dealers, they'll all either find jobs right away or depart the labor force for greener pastures of Uncle Sam's guaranteed payoff program.
Won't count in the numbers, is what I'm suggesting, will be rigged....
After all, big tittied bad toothed bleach blonde big hair drinks babes is all da rage now in Joisey, nuh?

Fri, 09/05/2014 - 12:10 | 5184975 I woke up
I woke up's picture

Was it me or did the male host ask what the guy did in a condescending manner?

Fri, 09/05/2014 - 12:12 | 5184994 IridiumRebel
IridiumRebel's picture

How is this fuckin TV Channel still in business?

 

Fri, 09/05/2014 - 12:15 | 5185003 NotApplicable
NotApplicable's picture

Propaganda pays.

Fri, 09/05/2014 - 12:17 | 5185031 Kreditanstalt
Kreditanstalt's picture

Advertisers have to be good at doublespeak.

Fri, 09/05/2014 - 12:22 | 5185054 I woke up
I woke up's picture

They are getting QE money backdoor to put forth the message

Fri, 09/05/2014 - 12:52 | 5185179 Freddie
Freddie's picture

Anyone who watches any TV or Hollywood is a sheep who supports their own serfdom.

Fri, 09/05/2014 - 12:36 | 5185005 NuYawkFrankie
NuYawkFrankie's picture

re The People On Wall Street Aren't Seeing What's Really Going On In America

Willful Ignorance Exibit A.

 

They will 'see', however - and sooner than they think.

Fri, 09/05/2014 - 12:16 | 5185012 Truther
Truther's picture

Folks, Off topic but I think you should check this out. Could it be legitimate?

 

https://web.archive.org/web/20140823041211/http://www.foxnews.com/world/...

 

Fri, 09/05/2014 - 12:44 | 5185144 prymythirdeye
prymythirdeye's picture

Must be true.  Its on FOX

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