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The Mystery Of America's Missing Wage Growth Has Been Solved
One of the biggest conundrums, one that has profound monetary policy implications, and that has been stumping the Fed for the past year is how can it be possible that with 5.5% unemployment there is virtually no wage growth. The mystery only deepens when the Fed listens to so-called economist experts who tell it wage growth is imminent, if not here already, and it is merely not being captured by the various data series. Friday's jobs data merely confirmed that since the Lehman crash there has been virtually no real wage growth, as the increase in nominal average hourly earnings is right on top of the Fed's inflation target, instead of where Yellen would like to see it: somewhere in the vicinity of 4%.
And yet, when sophisticated, erudite pundits, usually from a paid leadership position, look at the data, they say wages are growing.
How is that possible?
Actually, the mystery only deepens when one looks not at the wages for the set of All Employees as shown above, but for the 80% or so classified by the BLS as "production and non-supervisory employees" who "account for approximately four-fifths of the total employment on private nonfarm payrolls." The Bureau of Labor Statistics defines them as follows:
Production and related employees include working supervisors and all nonsupervisory employees (including group leaders and trainees) engaged in fabricating, processing, assembling, inspecting, receiving, storing, handling, packing, warehousing, shipping, trucking, hauling, maintenance, repair, janitorial, guard services, product development, auxiliary production for plant's own use (for example, power plant), recordkeeping, and other services closely associated with the above production operations.
Nonsupervisory employees include those individuals in private, service-providing industries who are not above the working-supervisor level. This group includes individuals such as office and clerical workers, repairers, salespersons, operators, drivers, physicians, lawyers, accountants, nurses, social workers, research aides, teachers, drafters, photographers, beauticians, musicians, restaurant workers, custodial workers, attendants, line installers and repairers, laborers, janitors, guards, and other employees at similar occupational levels whose services are closely associated with those of the employees listed.
The BLS adds that "these groups account for approximately four-fifths of the total employment on private nonfarm payrolls." The remainder is the opposite: those which the LA Times defines as "primarily employed to direct, supervise, or plan the work of others."
In other words "working-supervisors", bosses, and other job "leaders."
The important math: production and non-supervisory employees, those not in leadership positions, represent 80% of the employed labor force. This is important when looking at the next chart which show the annual increases in hourly earnings just for production and nonsupervisory employees.
It is as this point that we ask that all economists avert their eyes, because it gets ugly:
As the BLS reports, not only is the annual wage growth of 80% of the work force not growing, but it is in fact collapsing to the lowest levels since the Lehman crisis!
But if the wages of the non-working supervisory 80% of the labor population are tumbling while all wages are flat that must mean that the wages of America's supervisors, aka "bosses" are...
Bingo.
The chart below shows what the implied annual change in supervisor hourly earnings has been since the start of the second Great Depression. Note the recent differences with the chart immediately above.
And there, ladies and gentlemen, is your soaring wage growth: all of it going straight into the pockets of those lucky 20% of America's workers who are there to give orders, to wear business suits, and to sound important.
Yes - wages are growing, for those who least need said wage growth, the "people in charge."
In other words, precisely all those economists who day after day repeat that, damn what reality says, wages are rising.
Well, guess what: they are absolutely right... when referring to their own wages! It is the small matter of everyone else's wages that they are dead wrong about.
So the next time anyone asks why there is no broad-based pick up in consumer retail spending across the entire population, just show them the above charts.
And with that, the mysterious case of America's missing wage growth is now closed.
Source: BLS, St. Louis Fed
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I'd like to see a QE1, QE2, QE3 timetable superimposed on that.
This is my final post on zero hedge after six years,,,,3 different names after being kicked off twice I love u all,,,,the end is herrrreeeeee
Well, since you're leaving... Tell us who you WERE... Otherwise we'll be stuck debating "I feel fat" emoticons & other important subjects.
I'll miss each of you guys. Hi Tylers!! But I got a feelin' I'll soon be reading your posts again...
Sum [where] over the Reign {beau}...
Vaya con dios, Mr. Kudlow. Sorry to see you go. Many have taken the plunge, some I've stayed in touch with. They all go through withdrawal symptoms for a few weeks, but report their lives are better than ever after that.
Now... I gotta get to bed. I don't want to be late to work tomorrow as the new shift supervisor at the local McDonalds.
I have a question for ZHers. If there are 120 million workers in the United States earning $35K average then the total wages amount to ~$4.2T. A huge chunk of that is paid out in taxes. Say that leaves the total take-home after taxes and government imposed spending of $3T. Now where in hell do we get a $16T GDP and where does government get off spending more money than all Americans earn?
we shipped wage inflation to slave nations years ago and its never coming back this is the futility of the feds trillions of dollars actions.
hence the nx
Are we starting to not believe our own numbers? How tragic.
This is totally happening at my company. I'm in IT Engineering which is pretty high level stuff here...yet our so-called "leadership" at the Director and above levels all the way to our VP and CIO are extremely inexperienced and incompetent.
They have no clue what we really do because they've never done it themselves. They're just a bunch of suits who make very poor decisions.
Yet they're all making extremely high 6 figures and our company has announced this year that salaried employees will not be getting their annual 10% bonuses and will only be getting very minimal raises from between 1% and 3%.
The upper management is exempt from this penalty however, so they will all be getting taken care of very well as usual. The "folks" around here are not pleased to say the least. I sense a mutiny comin'. haha
@I MISS KUDLOW: Why you leaving?
While I'm sure a lot of QE money sloshing around is going to people whose compensation far exceeds their contribution, the problem here is not that everyone in any kind of supervisory role is being overpaid, it's a problem with the lack of skills of the bottom 80% due to poor education of our own population and massive immigration. Anyone worth a shit has to be paid more to supervise all the morons.
I wish cunts like you would choke on this bullshit argument. The bottom 80% are smarter and more skilled than they've ever been. Not everyone can or should be a software engineer. Until the destruction of our currency manual labor was done with pride and rewarded in this Country. The ONLY fucking reason a fry cook can't make a living wage in the free market is because capital reaps the benefits of decades of inflation. Highly skilled/educated labor breaks even. Everyone else gets fucked.
The next cocksucker who denegrates a guy who works hard with his hands, on his feet, all day needs ask themselves who dividends,bonuses,etc are up 1000's of percents while working folks rely on food stamps.
Being smart is a requirement but not the only one. If you can't think for yourself or reliably get yourself up off the dime you are probably just an annoyance to those around you. The problem isn't with the upper 20% or the bottom 80%. The problem is people, they screw up wherever they are. Only 5% of the population is "capable" of doing anything but following someone else's lead.
Oh, I see, you break out the word cunts. You win I guess. Keep living in your MoveOn.org world. I'm sure it gives you solace. The reason a fry cook can't make a living wage is because any moron with no education or non-english speaking immigrant can be a fry cook. Put something in the deep fryer, take it out. That was tough. I work for myself, with both hands and mind. Self-employed and an expert in my niche market for 15 years. Is the system unfair? Sure as shit yeah and getting worse, but blaming the top 20% when it's far fewer than that who have the opprotunity to game the system is stupid.
its not what you know, its who you know.
joe bidens kid
every successful actor in hollywood is in one way or another, related to some producer or comes from an acting family
athletes kids- too many to name, many suck eg luke walton
healthcare- i cant tell you how many good nurses are passed up for someones kid
longshoremen- they are practically all related
The reason a fry cook can't make a living wage is because any moron with no education or non-english speaking immigrant can be a fry cook.
In typical Atlas Shrugger fashion you claim some personal/ethical superiority where none exists. You saw my Cunt and raised me a moveon.org, which is laughable as I'm anything but a progressive. But let me go all in and call you a solipsistic, narcissistic asshhole with ZERO understanding of how international capital and the banking cartel have destroyed working people's standard of living. In a world of honest money, where investors took their losses and risk premiums reflected that, where the costs of RE were not engineered by subsidized loans and preferred access to capital by specuvestors, etc a fry cook could indeed afford an honest living and the billionaires of this world would not and could not exist as they do now. Government and the insipid banking industry that controls it is SOLEY responsible for the working mans exponential decline in standard of living over the last 30-40 years.
So fuck you and all your condescending ilk.
Yup
If the people cry out for a $15/hr minimum wage while nothing else is changed, you will get two things:
- Large-scale mechanization of all $15/hr jobs
- Inflation
The 19th and 20th centuries were historical oddities. Before then, there was far more income inequality than even today. Be thankful for what you've got, it's not going to get any better on its own, and you sound more about complaining than doing something to make things better for yourself. Even without the financial manipulation done these days, fry cooks could not earn a living wage today, because the demand for labor of all sorts has absolutely tanked since the good ol days of the 50s, when things still needed to be done by hand. Things would be better without the manipulation, sure, but not a whole lot.
if the government stops hiding all the covert theft they do, it will be clear that they spend about 75% of GDP each year. Unless this changes, there will be NO way to pay fry cooks $15/hr, whether or not all the financial types suddenly decide to stop manipulating everything. But they won't stop manipulating everything, because the government makes them do it.
Again, the relative prosperity and income equality of the 18th and 19th centuries are a historical oddity. Almost all of the things which made that possible and sustainable have evaporated. Things are simply reverting to the mean.
The reason that the management folks make hundreds of thousands to millions while the fry cooks make tens of thousands is the same reason that there's no money in digging holes and filling them back up again (unless of course you're also inserting coffins perhaps). Wages are just prices of particular types of labor, and certain types are more in demand than others.
The only reason there's such thing as any wage is that there are goods that people are willing to pay for. The problem is there's way too many fry cooks than there is demand for fry cooks, so the price of labor adjusts itself downward. Sure, there's tampering in the markets, but most of the time, the majority of dollars changing hands in the REAL economy are only manipulated a few percent at any one time.
So, the argument that everyone can have a living wage is bogus. It's a lovely sentiment, but people are only going to pay you what they want to pay you for, and they're always going to look for a better deal. You probably do the same thing every time you go to the grocery story.
i was kicked off twice, too
probably get kicked off again for revealing that and now i use my real name
My thoughts exactly.
I owned a small manufacturing company from 2000- 2011. I never thought I'd need so many managers as I gave "the masses" a lot more credit than I ever should of in being responsible.....yeah right. I'd say that 60-70% of society is FUBAR.
Between pruduction employees smelling like weed (I don't begrudge anyone for smoking it, but don't get wasted and show up to work smelling like it or being high, do that shit after you clock out). I even had 3 new employees that couldn't manage to get out of bed before 10:00 or 11:00 in the day and they were told that they had to show up at work between 8:00 and 9:00 (an hour "flex time" on showing up due to local traffic issues/parking lot).
I literally had a conversation with one employee who had only worked for 3 days and then showed up late the next 3 days - like 4 hours late. On the 3rd day of being late I told him that the next time he would be termintated. The VERY NEXT DAY he called me at 1:00 in the day and begged for me not to fire him, said he had over slept.
Had another that was backing up the van to load up some stuff from double doors vs the dock and wiped out the two doors (backed into them, they opened "out"). I had to replace the doors. After talking to him about the issue and asking him to please pay attention the next week he wiped out my doors again after I replaced them myself.
Had another employee that was trained for 8 hours on how to cut something....pretty much stack the product nice and even against to rails to square it all up so they are all cut the same dimensions then hit the button and cut them. He actually came to me about 4 hours later and said "Boss the cutting machine us messed up as nothing is cut right". I go back and check it out and it is working fine, he then looks at me and says "Oh, I forgot to stack them where they are squared up". The idiot cut for 4 hours and $7500 worth of product (my cost) and runied it.
I HATE FUCKING IDIOTS and we sure have a lot of them out there. I made a lot money when I was small (2-12 employees) and could control it. When I went from 12 - 30 employees I pretty much only lost money do to so many fuck ups occuring in production and employees tearing up equipment.
I sold the place and have vowed never again to start a business where I need any more than 4-5 employees and myself..it just is not worth it.
Oh and lets not even mention the idiot that lost a finger. 3 production guys put all their brain power together and decided that instead of adjusting the equipment with it locked down and tagged out and by using the proper documented procedure, that it would be much better to adjust it while running. They took off a safety cover, by-passed the safety switch, turned the maching on and one idiot stuck his hand back in to make an adjustment.....cost him a finger and me a nice audit and sent my workers comp through the roof.
After the smoke cleared it cost me about $15K...all because 3 idiots thought they could save 5 mins by adjusting the machine while running.
If anyone has not watched the movie "Extract" then they should, as it is a good representation of todays workforce. The movie is funny as fuck...but it is a movie, when you live that shit day in and day out at your business then it's not so funny.
Have you ever thought of keeping the good employees by say giving them an extra 25 cents an hour and firing the morons? Just a thought, from someone who worked on the line for years. There are good workers and bad workers. It always seemed like a good idea to keep the good ones and can the bad ones but management never figured that out. I didn't think they could tell the difference. They seemed to judge by criteria that had nothing to do with doing a good job.
Sure did, the ones that could rise, rose, started them all out at $11.00 and hour in production, the good ones (3) were making $40K within a few years (2-3).
Now the fucked up ones done nothing but bitching because a few others were making that much after 2-3 years. These fucking morons could not understand the entire premise behind why the other 3 were making nearly twice us much as them....so they were all hell bent on making those 3 peoples life fucking miserable and trying to get out of any and all work.
When I sold the place the 3 "good emplpyees" got a nice fat paycheck "under the table" from me....the others, well let me say the current owners still deal with idiots though not the same that were workign for me.
The amount of so-called "Men" in today's world is unreal. We have raised a bunch of pussies who have no clue in how to even change the oil in their car, cut their own fucking grass and maybe change a spark plug on a mower..I guess they are afraid of gettign their skinny jeans dirty. Our society is fucked, all these young men do nothing but lay around the house, watch tv, get high and play video games. It's not their fault, it is OUR fucking fault for raising them that way.
EDIT TO ADD:
Everyonne wants a fucking job but nobody wants to work.
You and NihilistZero both have very good arguments, although on opposite sides. I can relate to the incompetence of workers of my own, but at the same time think the spread between the lowest and highest paid employees is far too much. I run a small real estate office. My listings/admin makes half of what the agents make, and the agents make half of what I make. Seems fair, keeps them happy, I do ok. The problem with companies bigger than 10-12 people is the disassociation between employees that make them treat each other like shit. That's why my office has no walls.
You kow if I did not have to put 2 levels of management between me and the production employees I would have gladly used the money I spent on "babysitters" of men and gave them good pay raises if they could have shown some self responsibility, pride, and effort in their work....nope it was pretty much the mentality of "let's go to work and try to do nothing"...so I had to hire managers.
I was in the military for a few years - Same thing, I was a "model soldier" simply because I did the min that was required - 90% could not do that and it's not real difficult a task in learning how to kill people.
I was in R&D for Kodak, we came up with a product and hired 600 production folks over the period of 2-3 years - same thing all pretty much worthless and trying to "game" the system.
My internship (for college) was at a local steel mill - same thing only union and much worse - hell one guy decided that it would be cool to jump in the train start it up and drive it a few feet in front of the others - he hit another train (could not get stopped) at about 4 miles an hour and done $3 million worth of damage - guy got a week off un-paid as punishment! The Union stepped in on his dumbass behalf.
Last I heard that ol steel mill went from 2000 full time employees down to around 200 - the rest of the work is sub contracted out so they don't have to deal with stupid employees, guess there are maybe 1500 sub contractors working there today.
Now don't get me wrong, there are some good folks out there, but they are not by any stretch of the imagination remotely close to being a majority.
I started my business literally from my garage with $60K investment, a year later I was in 5000 sqft rental and had 4 employees. I was still working full time at my engineering gig and fulltime (+all weekends) at my business. I hit $2.5 million worth of revenue in about 5 years with NO DEBT and a 20% net proft margin....I paid myself $80K a year and had employees making $50K, the rest of the money went back into the company for expansion/growth. Most I ever paid myself was $200K as I put it all back into the business. By the time I decided to sell the place I was making $50K a year and was losing close to $200K in having major human fucking problems in production. Luckily I had a ton of equity in the business and owned a 125K sq t facility.
Only 3-4 folks that I hired over that time frame could add value....period. Those folks got a visit from me after I sold and were given a nice chunk of change out of my pocket in cash for helping me along the way. I did not have to give them anything and they wwere not expecting it, but I did at least give them a years worth of pay in cash for actually being good employees and helping along the way vs hendering. The rest: If I seen some of them right now broken down on the side of the road needing help, I'd honk, wave and keep on driving....fuck um.
Saw a stamping machine that required the operator to hold onto two handles with both hands before it would do its job. That was the only way to keep the operator's hands out of the work area and not get them stamped. It's so difficult to make anything foolproof because fools are so ingenious.
I believe your experience reflects the larger societal reality. Our friend Nihilist is dreaming of a long gone America where people took pride in their work and themselves.
I used to take pride in my work until I found out what that gets you. Now I want to be a useless parasite in other words, a success.
Save America. I agree 110% with your post. I left IT after 30 years in a very large corporation. I was one of the Director/AVP group, but I was one of only two who actually started out as grunt programmers "back in the day". The rest of the crew were slick haired, acronym spouting idiots who had no idea what the inside of a server looked like, or what it takes to code. Worst of all, these slick haired wannabes, had NO empathy for the staff that actually DID the work.
I was in the same situation two years ago, 12 years for a firm moving that was continuously creeping away from both sanity and competence. I walked away haven't regretted it for a minute. "Job security" is an illusion, especially if the company that is mis-managed badly enough. You can change anything you want, if you make it your primary focus.
Yeah. Same as it ever was in Pinko Fascist Commieland. Its not what you know but who you know and often, blow....Sad state we humans have created in our lust for position, power, and $$$...
and how much is payed out in USURY to parasitic banksters?
"The sure is a nice economy you got there. It would be a shame if something happened to it." That is banker speak for: Fuck you. The globe would implode without you peons paying your vig.
Most of the 16T $ in GDP is shuffling paper actually. Such as stock transactions, etc. that's America the paper shufflers.
But, but, the Fed just released this:
Federal Reserve: US household net worth hits record $83 trillion in 4th quarter of 2014 - @CNBCnowThe $16T GDP is normally calclated as the sum of consumption, business investment, government purchases, and net exports.
But GDP is also equal to national income plus indirect business taxes (like sales tax) plus depreciation. And national income includes not only wages, but also rental income, interest income, and corporate profits.
So wages are just a small part of GDP.
You, get outta here with your simple math and all. Be gone with you! Things are just grand, I'll have you know!
Your assumption is unfounded, you make 35k, you only pay social security, and maybe around 5% in federal. If you have a family you are likely getting Food Stamps, Section 8, Earned Income Tax Credit, etc.... at the end you probably are a net taker.
first, whenever a state has a budget deficit, this has to be financed by fresh debt. well, this excess state spending counts towards GDP, too
second, not all income is paid in wages. if you have income from stocks rising, it's not wages, is it? and so on, up to companies, foreign income, etc
this list is a bit longer then that, but those two points already cover some of it. GDP is a useful number, but a terrible one to worship
Stuck on Zero
GDP is a contrived number, supposedly representing the value of goods and services created by the economy. Remove all parasitical numbers from GDP- government, stock and bond flipping, insurance, real estate (mainly flipping existing assets) and GDP rapidly falls to your numbers.
Private sector employees ultimately carry the can for the rest of the economy and our bought-and-paid-for politicians don't have a clue that that is the crux of the problem. You can't have the off-shoring of all your productive jobs and have a real economy. It's a slow death from the cancer of ignorance.
And the so-called "strength" of the USD is simply a reflection of the weakness of all other currencies.
Imagine an economy that is so strong that a 1/4% increase in the Fed rate brings the economy to it's knees.
Perfect, succinct, cogent answer to Stuck on Zero's question.
+1 especially for the observation in your last sentence.
Right question. But numbers have to be right ie; average wages/salaries ?
Also it's not a dollar for dollar zero sum game. Each dollar is spent or invested
more than once, Money Velocity .
I sure miss Do Chen Roller Bearing .... did he fall down a Peruvian mine shaft .... did Sendero Luminoso get him .... I wanted to give him a business tip .... Peru is a mountainous country .... expand your product line to include .... clutch and .... BRAKE PARTS !!!
You had me at "Kudlow" omg, too funny...dont leave you attention whore...
I loved Kudow. He was a cheer-leader with his constant "green shoots" but so much better than Kramer.
Why does that idiot still have a show?
Showmanship, my boy!
Showmanship.
He's sooooooooooooooooooooooo gay!!!!
Why does that idiot still have a show?
He used to work for Goldman Sachs. He's there to lead the sheeple into the Wall Street slaughterhouse. The term is Judas Goat. Kramer's not going anywhere.
WHY?
I wish trav7777 would come back........
+1
I miss CheekyBastard...
fonestar was the most amazing poster. made me laugh long and hard!
no tears cried for chindit?
Nope. None.
LIsten.
Where's that Bangalore Equity Trader guy?
Well, what about Boris Alotovkrap? I miss his on the ground reports on Eastern Europe.
I didn't care for Trav, but I surely miss Pladizow's old avatar.
I repeatedly asked Pladizow to bring back the old avatar, to no avail.
Where the fuck's Boris?
RIPS
and the ball bearing guy in Peru...
and Akak + Francis_Sawyer...
Missing the Slewie the Pi-Rat too....
Leo K and his hot solar stock tips
Johnny Bravo and his gold costs $5 to dig out meme
:)
Francis comes back now and again. If you spot him, please do not say anything.
I miss Fonz.
Hey Fonz, if you're out there, lemme tell you one more thing about the negro................................
pods
Too much respect was earned for doing anything as stupid as that, Pods
;-).
Dochen bailed too.
I actually bailed about a year and a half ago, just to prove I could kick the habit. Didn't look at ZH for over a month. I learned to browse the key articles to save time....
Oh yeah, as for this article, it is correct. This is explainable though. The 'supervisors' are the people that are needed to run the business. You have to pay to keep them. The rest of the work force is lower level and can swing and ebb as needed (primarily through temporary or contract workers) to make things work. But you need your 'key' people who know what is going on and how things are done to make this other part of the system work. Ego, you have to pay to keep them so their wages rise.
How do I know? This is how I run my business. Have kept the key people needed to operate (usually at our lowest base rates) and have paid them. When increases come, contract or temps are used, depending on the need and lenght. Since there is such a large 'pool' of people needing jobs, I have not had to increase my wages paid in years to these employees......
Welcome to the new economy.
Very true, as you said about not raising wages. It's a simple equation of "Supply and Demand". There's a ton of 'Supply' in the form of a huge segment of the population looking for work and there's little 'Demand'. Everything from automation, to computerization and immigration has only exacerbated this situation. The bottom line is, that we don't need as many of the low-IQ breeders.
"..It's a simple equation of "Supply and Demand". There's a ton of 'Supply' in the form of a huge segment of the population looking for work and there's little 'Demand'...
Umm.. I'm pretty sure this 'huge segment' you speak of is only like 5.5%.. so there goes your supply and demand theory.
*This message may include a hint of sarcasm.
More high-IQ breeders would spoil the curve on college entrance exams in 17 years.
Sustainability.
Hope and change we can see!! I think the list above did not include 'greenskeepers', golf instructors, ...
So many missing. So many fled. I love you all. At least we still have McMolotov. He knocks the cover off almost every time he steps to the plate. I wish he would weigh in more often. ZHedge is the only antidote for the Great Suck, this Long Emergency. Long Live ZHedge!
That's cool the milinials will fix it.
ROTFLMAO!!!
Even without the /s tag that's bloody hilarious!
Every single Millenial that I have ever met possesses just barely- and I mean just b-a-r-e-l-y-.. enough wit to tie their own fucking shoes in the morning.
Grab the the popcorn and sit back.. this shit is going to be fun to watch.
...because you have left them with a mess that YOU CREATED and then failed to teach them anything.
Yeah. Real fun. People like you will burn in Hell for the Hell which you have caused.
Geese Louise, post War of Northern Aggression, Post Great War, and The Greatest Generation Test, were not problems instigated by our parents, grand parents and great grand parents left behind for us?
Grow up bitch, for cripes sake.
Hi Tom.
What ever generation that was at the helm in 1913 that let the fed reserve act pass without a peep is the start. Than the ones in 1933 with the emergency war powers act screwed use royally. Then the ones that did nothing when statutory "law" was applied to humans in criminal proceedings outside of Constitutional authority. Then the ones that allowed for the Korean War without a declaration of war from congress. Than the ones that allowed us off the gold standard. Then the ones that allowed the removal of glass stegal. I would say if anything the melinals are the first generation, at least the libertarians of that generation of which there are many to be doing something to try to fix this. Aside from that yeah the can barley boil water but that is the generation X ers fault for doing nothing while the education system removed all relevant information from the curiculum....
Wonder why the school systems are so bad? Public schools teach at the LCD. Now the LCD is a Honduran immigrant. So in 1 generation we have trashed our schools to a third world level. Then we navel gaze and wonder why our kids suck compared to other nations. Now you know why.
"...because you have left them with a mess that YOU CREATED and then failed to teach them anything."
Damn, Tom. I thought you were smarter than that.
I am not responsible for any of the insanity- nor can I do anything meaningful in order to eliminate it.
As far as teaching goes, that only works if the student is receptive to learning- and thanks in large part
to the public 'education' system- the percentage of the population who retain the ability to think, learn
and reason by the time they enter adulthood is getting smaller every year.
...nor can I do anything meaningful in order to eliminate it
Yes you can. You can teach.
I am an old man. I know better, have seen better.
We had so much more freedom. I used to walk down the street with my loaded shotgun to go Dove and Quail Hunting in the hills behind the neighborhood in Santee, California, back in the 1970s. The County Deputies would drive right on by. If I tried that today I'd be shot.
My generation saddled the kids with this debt.
I am ashamed about that. I am not going to belittle them for something for which my generation is largely responsible.
We were the greatest Creditor Nation on the face of the planet when I was their age, growing up..
We allowed Volcker to change it and borrowed massively upon the future labor of an unborn generation. We became the greatest Debtor nation in 1982. Price inflation was "defeated" because it was passed off to future generations as debt.
It is not their fault. They were not even a sparkle in their Daddy's eye on the eve of their conception at that time. Their Daddys were children at that time.
Then we scoff at them?
You know that is not right.
You guys say that you want Liberty? Hell you do not even begin to know what it was like.
You should demand reparations.
I should demand reparations for something which my generation caused?
You are fucking insane.
wasn't kudlow all about KING DOLA?
More like COCAINE DOLA!
If you haven't been kicked off at least once, you're not doing it right.
It's like skiing: If you're not falling down, you're not trying hard enough or refuse to leave the Bunny Hill.
What do you have to write to get kicked off? A number of the written policies are clearly unenforced.
IF I told you I'd have to change my name...
I believe that when you cross the line then you will know. I have not yet crossed that line, knowingly...yet.
I hope that they will give me a fair warning when I do. I believe that they will.
Yet I am not even entitled to that fair warning. I publish here as a guest. If you respect others who are deserving and worthy of respect then I do not foresee any problems.
This is Fight Club after all. It is not supposed to be Echo Box Club.
Manginas can go on over to Mangina Club.
But then I can be mistaken at times.
I got kicked off the first time for sneering at a fawning story about some nonentity. It doesn't take much, especially on a weekend.
Just tell the truth and if your opinions are unorthodox, it is only a matter of time.
Years ago there was a concentrated campaign against brains but that succeeded so well, high intellligence has not been a problem around here for some time.
I'm interested to know why you were 'kicked off' of ZH.
Were you 'kicked off' of ZH twice previously, or forced to close your 'accounts' by your 'employers'?
I mean, I guess ZH can kick people off, but it doesn't happen very often. Were you linking child porn generated by the MIC or something? Does it have something to do with your employment at the B.L.S. (since you are posting your 'announcment' regarding a story about vanishing wages)? Were you one of the progenitors of the Satachi(sic) Is God/Bitcoin B.S.?
Did you quit before you could be 'kicked off' again? Will your next avatar be something like 'I Love Kramer'?
DAMN, I have SO MANY nagging questions about your LAST post...
We used to get banned for talking about chosens.
That sort of changed rather suddenly with the whole Israel participating in genocide thing and trying to outlaw criticism of Israel/Chosen ones at the UN...
Relax Francis. I don't think you're Francis but it is still funny. HAGO.
YEAH!
EXCELLENT!
I was trying to remember 'his' name when composing my post, but it is only spoken in hushed tones in the secret rooms of memory, now. The name that is revered and remembered; the name of the one who spoke of Jesuit 'values' when discussing ECONOMICS...
(His name was 'Francis Marion')...
What's 'HAGO'?
https://search.yahoo.com/yhs/search?p=HAGO&ei=UTF-8&hspart=mozilla&hsimp...
http://www.bing.com/search?q=HAGO&form=PRUSEN&mkt=en-us&refig=3403dafcc0...
Oh.
Have a 'good one' (whatever THAT means).
(Did you notice that the 'Yahoo' and 'Bing' searches seem to produce the exact SAME results within the CONUS? Should I link the 'GOOKLE' search, as well?)
His name was Francis Sawyer
Free Francis Sawyer ...
~~~
He never learned to lighten up.
Neither have I yet learned to lighten up and I am still here.
Do not misunderstand. I am a GUEST at this venue. I do not pay the bills. They can ask me to leave anytime they want...for any reason. I am not entitled in any way, shape, manner. or form, to have them publish my musings. I appreciate the opportunity granted.
But the first step for Francis Sawyer to gain freedom is that he needs, to first, free himself.
I am eagerly seeking and looking forward to that day.
While we are at it free Fonzanoon.
what about janus - i mean this place is nothing without the artful foil of the mouthy, navel gazing trolls, NOTHING...
I am not here for "Echo Box Club" after all.
But I do prefer genuine people, honest people, and not those who argue for argument's sake, those using the tactics of Sophistry to detract from coherent debate and discussion.
But it is not about me or my preferences...
It is Tyler's house after all. And I am just a guest and I will be a guest as long as he sees it fit. I will give my host his due respect...which has been earned many times over.
So I will let him know what I think and how I feel without fear. He deserves my respect and my honesty.
Good God, you were right Borrow Owl, those fucking millenials wouldnt know a sense of humour if it slapped them in the face
I was born in 1959 you fucking idiot.
I remember the Spaceflights and Moon Shots.. I remember garnering Silver Coins out of circulation. I watched the original Planet of the Apes when it premiered at the Loma Linda Theater in Point Loma.
Being almost 56 years old I will still kick your fucking ass.
You think that it was right to saddle these kids with our debt, fail to teach them anything, and then laugh at their destruction?
Fuck you. Why in the hell don't you come out and visit me?
I live at
12223B Woodside Avenue
Lakeside, CA.
Bring your guns you fucking queer. I am in an apartment over Westcoast Pawn..the South Apartment.
What is your address? I will come over to you.
I am just...JOKING...you fucking dipshit.
theys fixin to get sideways
Neither have I yet learned to lighten up and I am still here.
And I do not intend to. I mean it damn it.
There is no anonymity from me.
I refuse to live in fear or take anybody's shit.
I am too old, too close to death, and have nothing to lose.
The best thing that I can do for this World is take out as many fucking psychopaths that I can before I go.
Kipling wrote lines to the effect that, sometimes, the best a man could hope for is to die on the barricades in the company of other good men.
Any literate types here to correct my mangling of Kipling?
"When you lay dying on Afghanistans plains
and the women come out to cut up what remains
just roll to your rifle and blow out your brains
and go to your Gawd like a soldier."
oh geez, another internet ass kicker. Fifty six years old and still talking that skool yard shit. Grow up, son.
An Internet ass kicker?
No. You have my physical address...my Geographical location.
You are welcome to visit.
But you have no balls, mangina.
Ass kickers don't scare me, son. I have a big fuckin gun and know how to use it.
I do not own A gun to my name.
Please bring yours when you visit.
Prove me DEAD wrong if you can.
Actually I apologize to ZH for replying to you at your level.
ZH is Fight Club.
What? You do not have the balls?
Why don't you prove that you can be my huckleberry.
You don't have the balls to be my huckleberry?
Or is it that you lack the skill that you claim that you have with yer gun, mangina?
Bring yer gun.
Tall Tom, I think this is fonzanoon's new location:
http://imgur.com/user/fonzanoon
Thanks.
Looks like (s)he's still fighting the good fight! Thanks, bookmarked it.
Jesus, don't click on the leg press chick. Ugh, like watching Joe Theisman over and over again.
pods
Free Francis Sawyer with every visit to ZH. Like a free exploding toy with every box of cereal. Now there is an offer that would be popular with a lot of unpopular people.
Hell, if your gonna go you might as well do something really big and get kicked off again....
You know, like what you'd do at a job you hate when you hear thru the grapevine that you're going to be laid off next Friday...
(I WISH I'd have done that at my last shitty job)
So who cares? WTF is this? Exactly which ego are we supposed to pamper here? Meow meow purr and pat,
Guess you gotta go and cash that troll cheque. OR maybe the NSA cheque, Or the self indulgent ego cheque. give it a rest. like a toddler in the playground, I'm taking my toys and going home tto momma.
See Ya.
"This is my final post on zero hedge after six years,,,,3 different names after being kicked off twice I love u all,,,,the end is herrrreeeeee
Can I have yer stuff?
I called dibs already.
Hotel California
You can check out any time you like,
But you can never leave!
Kudlow - Please don't hurt anybody.
This was all planned.
And going according to plan.
I said it years ago here. Slavery was impracticle. Cost too much. Far better to create destitute serfs responsible for their lives. Slave had upkeep and certain PR difficulties.
Serfs? Easy blame. Cheap wage/starvation adverse motives. Easy blame and feed the dream of self-improvement. Slavery was invented by the British on a large scale. The ONE BANK never really gave up on the template.
All is going accoording to plan. Go get your MBA. Your Phd, Know how to flip a burger?
"Slavery was invented by the British on a large scale" You have never been to Rome, have you?
Are you kidding? It was the British who abolished the slave trade using the power of their navy. Read a history book and find out who was the first to abolish slavery and who was the last.
Hint: slavery is still legal, and still practiced under Islamic law.
You're both confirming Whacko's point and don't even realize it.
Slavery willfully accepted by the serfs/slaves... that's something only the British managed to achieve.
"Slavery was invented by the British on a large scale."
There was a White slave trade out of Moorish Spain for 700 years until the Spanish reconquista in 1492.
http://en.wikipedia.org/wiki/Reconquista
The people who ran that White slave trade were pushed out of Spain by the Inquisition and so they moved to Portugal where they started the Black slave trade by building sugar plantations on the islands along the west coast of Africa.
So yes it is about the people who ran the various slave trades around the Med. for 3000 years getting slavery back after the short break when the British abolished it.
"" This has all happened before - - and this will all happen again .. ""
This is all silly,
Point # 1: Most of rhe world only wishes to be productive in order to provide for their offspring.
So I think we do not need any other POINTS.
Who the frig needs the House of Winsor? The Rothschild empire? the contrlolled Central Banks? that took away every natiion's ability to issue bonds under their own control? Billions of people and I mean billions. WTF?
Time has come for push and shove. If you prey on millions? I will not worship you. If you hold up an ICON of psychopathology whereby you prey on millions and give yourself a pat on the back? We (as a society have rubber rooms for you).
Push is coming to shove kids.
C'mon NSA and CSIS. I have dangerous, independent opinions not brainwashed by MSM. I must be dangerous due to the fact that I respect all nature and use no GMO's or pesticides.
"we...have rubber rooms for you"
I love it when you talk dirty. So RAWR!
The crooks at the fed devalued the value of the dollar by 98% over the last hundred years -
the lack of real wealth growth of Americans for a very long time is pretty easy to figure out.
And because employees are getting fired before management... the mix gets richer and we get an average that's flat.
When the layoffs really get moving, wages will go up due to mix change as well. And they'll say things are better.
In a perfect manipulated plan you have millions of people starving and working for the equivalent of 1 day's wages= 1 meal. Competition for these subsistence jobs is fierce, Tier 1 (check)
In that world managers are Tier 2. They pick and choose who gets to eat but their jobs depend on their ruthless disregard. (check)
Tier 3 you have shareholders and merchants who think they are immune. (check)
Tier 4, 5, 6. go up the ladder until you actually follow the money and rape. Somewhere in these tiers are the deluded politicians who think their ass is safe as sold.
American Apocalypse. Read it.If you can handle it.Most will not.
This is probably TRUE that supervisors get MORE money BUT I think the trend is that ONE PERSON gets a little more money but does the job of 2 OTHER FIRED PEOPLE. So they deserve this money and then some. I have seen this before. Fire the lower ranks on hourly, add work to the salaried sucker. Save on insurance, wages training etc.
OK but NO. ever watched TCM movies out of the 30's? Where the guy with the clipboard picked and chose the individuals who got to work that day?
Take a walk down history cocaoa.
This is probably TRUE that supervisors get MORE money BUT I think the trend is that ONE PERSON gets a little more money but does the job of 2 OTHER FIRED PEOPLE. So they deserve this money and then some. I have seen this before. Fire the lower ranks on hourly, add work to the salaried sucker. Save on insurance, wages training etc.
So when are you going to wake up? to this manufactured slavery.. think it is going to grow your society? think you can feed your family? Nice of you to point our trends but when you lose your trend job? which viaduct are you going to live under/ and how happy are you going to be when your SOCIETY writes you off? As permantently unemployed? as fat and useless? as some card that allows you to feed at the trough of garbage and crap (McDonalds and a;;).
So "middle managers desreve this money"? Yeah. They are bribed into sitting on any benefit or security of workers. And this is now BA's. MBA's. People have not jobs. But there is a niche for frozen souls who know how to hire and fire.
due to the fact that mid-management (who sit on jb insecurity) are educated to be ruthless and ignorant. it is me or him. (the plan). So I ask again. What exactly does the House of Winsor (racist, corrupt slavers) and the House of Rothschild (and all the private Central Banking system that octopus out?). We are billiions of working people. We do not have tea and servants and shite on "useless eaters". Try getting along without maids and cooks. When was anytime anyone of you cleaned a toilet?
Push has come to shove. Time you all, Jamie et al cleaned up your own toilets.
Middle Management... The name hardly describes the job responsibilities this group performs. Call these tools what they REALLY are. They're enforcers.
http://dictionary.reference.com/browse/enforcer
"Look, the people you are after are the people you depend on. We cook your meals, we haul your trash, we connect your calls, we drive your ambulances. We guard you while you sleep. Do not... fuck with us." -Tyler Durden
I agree, we don't need them, we never needed them. What they contribute compared to how much they steal, we are much better off rid of the whole elite criminal .001% enterprise. The taxes they pay do not even hold a candle to how much they rape the country and world via government collusion.
If you like your inverted totalitarian, centrally planned, socially deconstructed, wage-negative state you can keep your...
Ah, fuck it. I have just enough time for another pint of Ten Hills IPA before they raise the price and reduce the size again.
FFS - I have been making my own IPA - dry hopped for years. I even have some outside sales. Cost per bottle of beer - about 25¢. Setup - maybe $80
And it ain't rocket science
When I look at some of my later night posts - it's obvious that my brew makes you smarter and funnier - just an added benefit
Right there with you, brother. Been brewing a respectable red ale and steam ale for almost ten years. Unfortunately, the hotel bar is my only recourse on the road.
True story: less than five minutes ago a bartender told me the 12 ounce bottle of Alaskan Amber I ordered was going to be $10. For one bottle of beer. After a string of expletives on my part, a dude sitting at the bar leans over and tells me, "Welcome to California..."
Ahhh - nothing like the sound of the bubbler in the morning!
older than bread they think
and it stores better too
used to be wages
and will probably be again soon
I so don't fucking miss living in the US.
(Settling down to a delicious, oh, well, ANYTHING in my local Gasthaus in Heilbronn).
Cool. I have only tried the packaged kits (last one was an xmas gift from my wife). Wish I had a proper set up and better training to do my own thing. $80 is nothing. Heck, I just spent $200 on a DIY hydroponic setup for my back porch (coming out very nice... solar powered too). Any advice on where to learn?
There are a shitload of home brew places. Find a local one - they'd gladly help. The beer is not like the shite of the old days - with the costs of commercial stuff - the industry has really stepped up. Dry hoping is the key to a good beer IMHO. It's all about sanitation and temperature control.
'The Complete Joy of Homebrewing' is the book that got me started.