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Chart Of The Day: Five Years Of Jobs Versus Entitlements
The Second Great Depression officially started in December 2007. The NBER tells us that the recession that started at the same time ended some time in the summer of 2009. The Second Great Depression continues. The chart below shows the cumulative increase in Americans receiving foodstamps and disability benefits since December 2007 on the positive Y-Axis, and the jobs lost on the negative Y-axis. No additional explanation is necessary.
And on a standalone monthly basis:
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"Five years of jobs versus Bailouts"- FIXED.
That was fun.....can we do it again!
More EBT cards to help the 85 IQ crowd breed out the 110 IQ crowd.
Take note that since 1st Jan 2008, 464 US banks have failed.
FDIC failed Bank:
http://www.fdic.gov/bank/individual/failed/banklist.html
Many thousands more will soon be joining this list.
Go long Apple?
It's Bernanke's multiplier effect. Same way 3.6 Debt/GDP will help us out of this. /sarc/
hope and change..
Hopelessly changed.
Trademark that.
At least put it on a bumper sticker.
by the chart, I think dead people are collecting...don't you
Why not? They'll be voting in a few weeks!
Not even death keeps Grandma from voting.....it's tradition!
TRADITIIIIIOOON!!!!!!
"Vote early, vote often."
that'll be the postal vote then
if you check the stamps they all eminate from GOP and Dem headquarters by some strange coincidence
as they say in Chicago....vote early and vote often!
Prosperity.
don't hold your breath ...Benny is trying to fix it
$16 trillion in 'fixes' and still, Zzzzzzzz
...and this is BEFORE Ben loses control of interest rates...
"Second Great Depression" is just not a fitting name. This is the 21st century. How about "Great Depression 2.0"?
I think history will refer to it as The Collapse or maybe The Great Collapse.
The Great Implosion™
INCEPTION!!! ('cause I own gold)
Iz Glorious Revolution, da? Da. Now what do you want to tell me about your neighbor's bank accounts, Komrade? See? I feel your glass wid wodka. Iz good, da? Da.
iCapitulate
"The Great Swindle"
"The winds of shit started to blow, it became a shit blizzard, pushing all the shit rats and their little shit apples into the shit abyss. A real SHITNAMI"
Jim Lahey, Trailer Park Supervisor
http://www.youtube.com/watch?v=JuedGDhkQKg
I've got a question for you!
What can you tell me about the fall of English empire in the 19th century? In 20 sentences or more.
What can you tell me about the fall of the Spanish empire?
The Portugese empire?
Chinese?
French?
Ottoman?
Greek?
Italian?
Persian?
ps: quoting movies is not allowed.
People only remember the glorious days of a lost empire. Nobody remembers the end and yet that is the only constant in all the stories.
The only thing I know for sure that they all have in common is none of them happened overnight. This one might be different.
No, this is the same. See the erosion for what it is - a slow, methodical degradation of the circumstances until some event touches off the avalanche. But this IS not happening overnight.
You're right. But to the masses with their heads buried in the sand, it's going to seem like it.
The one thing they all have in common is leaving a gold standard
because of debt.Whether it was done oficially(Nixon 1971,Churchill 1925)or
via adulteration(Rome,Spain,Portugal) all invoved funny money.
This will happen much quicker because of the sheer volume of funny money in the
monetary system.Quadrillion plus range now.
No slow decline for us,overnight in relative terms.
depends when you start to feel the decline... to some it started in 71.. for others 1913, and probably every year inbetween it started for someone
Don't need 20 sentences. One word will suffice: CORRUPTION
TRADITIIIIIOOON!!!!
How about the collapse of Florentine banking from bad loans financing bad wars and the arrival of the Black Death with the upitty redistributionist movement in town?
Being ZH, 20 sentences or LESS would save space and time though...
My family lost it all in the big Tulip market, way back...
Well the English empire fell shortly after they peaked in coal production.
Russia collapsed a few years after they hit their first peak in oil production.
The US Economy was shocked to shit shortly after the US peaked in oil production. There would have been a collapse if the US $ wasn't taken off the gold standard and put on the oil standard.
I bet energy and resource limitations led to the fall of ALL of these empires.
I think it'll be referred to as The iBubble. I mean, according to NPR, Apple will contribute $3 billion to the 'economy' this year, via iPhone 5 sales... Right?...
Yeah, it will save the US GDP just like the Facebook IPO saved Kalifornia!
Oh, wait...
It has a ring to it....and seriously, this IS what is happening...
So call it what IT is... "The Great Collapse"
How about calling it "The Great Contraction" ?
I prefer The Great Correction
more honest
Morph The Great
The Dreaded Other Shoe Dropping is a catchy name.
And it's got that Quantitative Easing kind of misdirection going for it.
Finally ZH is identifying food stamps primarily as an entitlement.
The mouth on that chart is opened wide...
Don't like the term entitlement. It implies people are entitled to something. I believe "social program" is more accurate.
YOU DIDN'T URN THAT PAYCHECK ON YOUR OWN!!!!
NOW GIVE ME HALF!!!
You better get with the program; everything is a Right accept for Liberty. The state has exchanged promises for chains, and most amerkans are fine with it.
--Exercise for the class--
Place the *You are Here marker on the following scale:
Liberty “Security”
I--------------------------------------I
i thought we deserved niether at this point
Having given up our liberty for the illusion of security, the sad truth is that we now have neither.
Obama done kept us SAFE from terrah. Derp derp.
I prefer the real world definition of "food stamps"--government-enforced theft.
yes, now about those corporate entitlements...
how about letting bad business models and bad management fail for a change? Let the fucking owners and management payback the creditors for a fucking change? Leave the taxpayer out of it.
Right. So Mitt Romney can't pay his debts to his creditors (the Federal Govt), and he gets another low interest loan (which he then uses to game the system, make money off the backs of vulnerable poor people to back that back, and makes profit).
Yet, if you or I can't pay OUR debts, we get our wages garnished, health care denied, and future loans at a higher interest premium.
Financial Apartheid. FTW.
....according to Harry Reid anyway.
Geez I hate politics.
@getzeegold--if you hate politics so much, why do act like a pathetic partisan pinhead?...........both sides love bailouts, both sides voted for bailouts, and both sides continue to gut this country.......try voting for a third party........and here is romney and his bailout...............and dont forget all of the bailouts that paul ryan voted for.............
http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829
What third party do you suggest? Enlighten us.
thats for you to decide. not me........it means...wow....you actually have a CHOICE!!!!
kito, there is no choice. Vote third party and the D will win because it will take R libertarian votes away. Vote R and the policies will pretty much remain the same. CFR Team A wins or CFR Team B wins? Heads they win, tails you lose.
oh lordie, you still dont get it.....YOU have a choice.....does principle count for YOU? it isnt about winning or losing at this point, its knowing YOU have done the right thing by making the effort to examine what other CHOICES are out there...................its knowing you can go to sleep satisfied that you exercised real CHOICE, regardless of the outcome...................
Right, because venture capital firms never receive government (i.e. taxpayer) monies. Please, pull your head out of your ass.
Not that I agree with Shizz .... But Romney did default on a loan backed by the FDIC while at Bain. Look it up. That's a bailout. Not that he's against bailouts, mind you. Also, PE and VC guys are the most notorious legalistic pricks known to man. Hence Mittens reference to asking his lawyers, and RP responding to just read the constitution.
Shizzmoney, if you are taking a stand against one party or the other then you are missing the entire problem. The 2 party political system is designed and "played" to maintain their power. They may differ (on the surface) in their rhetoric but their collective track records are dismal, corrupt, ineffective, criminal, and (insert your own adjectice). Needless to say, engaging in political rhetoric and blaming one party or the other is a waste of our time here at ZH. Now go vote for Obama and get in line for your SNAP check.
But the government is making huge profits on all of the bank bailouts so everything is honky dory.
Tyler,
Hopefully someone can explain to me how or if the government actually made money on the AIG bailout. For some reason, I just don't trust the press releases.
Wait....wait.....I think the lines are converging a little bit.
Oh joy! I have to admit it's getting better all the time.
/sarc
http://www.youtube.com/watch?v=CXkokyBlktA
I am Jack's asymptotic optimism? XD
Better that than his enlarged prostate.
<Can I give you a hand with that Jack?>
In all the prior recessions, Food Stamps participation rate would plunge until about 2000 when it started to rise. US has been in a recession since 2000.
Trying to date when "The Great Depression" really started is a little like trying to figure out how many angels can dance on the head of a pin.
The Great Distraction!
You mean like calling something 'Great Depression or Great Distraction'.
No additional explanation is necessary.
$JPM helps rig the crisis and manages the EBT program? say it aint so aunty em! say it aint so!
we are living in the borg beehive already and dont know it because they implemented via incrementalism - again, my fear is that you will Not See an off the cliff "wiemar/great depression" scenario, but rather a long, protracted, drawn-out pressure cooker a la Britain over the last several decades at the end of which the control grid will have crystallized
the police state metrics and etc. are in place, DARPA R&D of autonomous platforms is proceeding apace etc.
you will never get a good chance to question authority, our liberties, civil and otherwise, will simply be progressively bled out until we wake up and the prison walls have moved close enough for us to notice them
fuckin lovin the lack of hedges
... we are living in the borg beehive already and dont know it because they implemented via incrementalism ...
Morph The Great
Need a third dataset on the chart for SS disability payments, there's more going on that each week than jobs being created.. real or otherwise.
6 out of 7 are collectively paying $22 a month for each 1 out of 7 food stamp recipient. (average benefit being $134 a month)
Family of 4 not receiving food stamps? $88 a month is your family's contribution.
And it's being borrowed from your kids future earnings.
If it's being paid for, how is it being borrowed?
Derp derp.
Are your kids and grandkids and unborn future generations currently paying their share of the national debt via federal income taxes? No? Didn't think so.
Given that they don't exist, no.
Nevertheless, a dollar paid cannot also be a dollar owed--the concepts are logically exclusive. IF "food stamps" are being paid with $22/month from every citizen, those expenditures aren't being added to the debt.
Get it?
NFP = non-farm payrolls
Sometimes the abbreviations get a little thick around here.
no fucking problem
No future, peasants
Don't worry guys, the jobs are coming.
In the meantime, buy stocks. Especially guns, gold, and any company that has a government contract. Those IEDs don't pay for themselves.
A 99.99% chance it's just a political stunt, but we can always hope...
http://www.politico.com/news/stories/0912/81007.html
The defense industry's equivalent of Hank Paulson on his knees begging for a bank bailout.
So how would one go about creating more jobs?
(Such a sweet kid)
leaving wealth in productive peoples pockets, rather than thieving (taxing) it would be a good start
How about something more than empty rhetoric?
Stop participating in the paper economy. Black market, grey market, second-hand & cash. Let the serfs fend for themselves, or they'll take you down, too.
WTC Bldg 7 housed over 3,000 SEC investigation files that were all destroyed in an OBVIOUSLY controlled demolition. How's that for empty?
WTC Building 7 should not be discussed on Patriot Day.....after all, if the masses will buy three planes into three buildings by people with virtually no training on multi-engine aircraft, they sure won't believe you about Building 7.....
For those of you convinced three morons could pilot those aircraft, go to you local General Aviation Airport that offers training and watch newbies try to land a single engine plane......
It is interesting that we all think of jobs as "the thing" we need. Why? Because IMO, for most of us, we assume that we need a job to earn money to get food, shelter and the other things we need. The system has been set up so that we self enslave ourselves to work for the greater benefit of others. We are slaves to those who create and distribute "money". The ability to create infinite fiat give infinite power to those who create and distribute it.
However, I would be the first to say that the output of jobs can be valuable to society as a whole AND the act of working can be very valuable to the individuals who accomplish something of through their work (what is of value to the individual varies obviusly ... for some it is stealing the work of other, but that is anti-social as a whole).
Maybe the long-term plan should be thinking about reinventing the system to gives people what they need without the friction in the pipe and the parasites who feed off of those who create value.
... and my guess is that this has been thought of countless times through many societies and universes.
fudge the numbers seems to be working
It is not possible for an one entity to "create" a job. A job is a contract entered into by an employer and an employee. Private industry cannot create jobs. Government cannot create jobs. At best, the powers that be can create an environment where emloyers and prospective employees can meet and agree upon the terms of an employment contract.
Right now, with the lowest employment participation rate ever recorded, it is plain as the control and "p" buttons on the Bernank's money machine that such an environment no longer exists in the USA.
Any politician who tells you they are going to "create" jobs is actually telling you they are going to shovel billions in the direction of their largest campaign contributors.
Tell ya' what. Start a small business and then try hiring a few people. When you see how over-regulated, and over-taxed a small business owner is, and how much arbitrary power government agents have over said business owner, you'll understand why the number of jobs in this counrty is imploding.
Start a BIG WAR............ And your right and very observant... the shit didn't clear from the Tech bust and they have been wallpapering over the cracks ever since.
Print that Paper Bitches
The majority of people given the legal opportunity to "take" food stamps or other freebies would gladly accept them and surrender their free will. This is sad.
... and yet, I have to think that our outcomes are all determined by the situations we encounter and while it is all well and good for me to think all righteous and independent and all, others have never had that option ... and some die before they even know who, what or where they are. Based on our actions, we are all very young.
Politics has morphed primarily into appealing to specific demographic groups. Hence the political motivation to find emotional single issue voters and spend time and money to show them how the other side "hates" them.
What we are seeing is the newest and large voting class, the dependent class. It takes but a cursory look to see how now millions of people are dependent on government largess and will vote their self interest. Any politician who thinks they can get elected by threatening to remove the benefits from this class is foolhardy.
The deal is now done, the ability for America to regain economic stability is gone, less a collapse and rebuilding of the system. Trillion dollar deficits are here to stay, economic malaise is the by product, at some point it will all come tumbling down.
This election offers a faint glimmir of hope, but IMHO there are just too many road blocks to turning this around.
sschu
"Hence the political motivation to find emotional single issue voters and spend time and money to show them how the other side "hates" them."
That is a brilliant insight sschu...
ori
"The Second Great Depression oficially started in December 2007."
Thank you. It's about time somebody called this mess by it's correct name.
<CLEARLY Tyler, these people need education. ONLY the uneducated are feeling the pain in this crisis. They must have brought it upon themselves by ONLY getting a High School education and not feeding the student loan bubble like they were supposed to.> You know, when you stay away from reality for as long as we have, when reality finally does hit, it is going to hit like a nuclear bomb.
Will be vwery interesting to see what this morphs into
what choice do we have; really
http://www.nytimes.com/2012/09/11/business/as-low-rates-depress-savers-g...
I really need to start my investment firm, "Sealy Capital". If you are going to put your money in a place that "pays nothing" - your mattress is always the safest bet.
A few thoughts:
1. If those folks on food stamps were not getting them this country would be spending a lot more money than we already do on riot police, jails and guards for the imprisoned rioters.
2. I don't think they included those QE I, QE II and continued under the table QE entitlements paid out to keep bankers and essentially the entire financial sector afloat the past 4 years.
3. Were defense entitlements included too? Defense entitlements have kept large, essentially unnecessary sectors of the economy afloat since about 2001.
This system has existed well beyond reality for at least a decade due to inputs of digital dollars, natural resource inputs, a backlog inventory of military toys, greedy politicians, and a greedy, inept, and willfully ignorant populous. With the free-ride inputs running out, as the greed and ignorance remains the same things will change whether we like it or not. I doubt it will happen smoothly, fairly, or in a manner that most will like,
The old systems have run their course, there's no going back. Many here don't get it either as shown by their constant ramblings about Marx and socialism, etc... They are still stuck in the past themselves.
No additional explanation is necessary
I know what you mean, BUT I think all kinds of explaining is necessary from our elected leaders.
Maybe it needs no comment, but what I'm getting from the top chart is that although jobs have been added, the type of jobs are paying much less than before. Hence people who are technically employed, but falling below the poverty line still (or the food stamp line whatever that level of income.) I've known lots of people on food stamps over the years, not many of them really want to be on the dole, all of them though did not enjoy watching their children go hungry.
How about we start looking at why the jobs market is so incredibly shitty instead of just beating on the poor? Food stamp usage is a symptom, not a cause of our depressed economy.
You are missing the point. No one is beating on the poor. There are two sub-stories here. 1) Ineptitude at the highest level has prevented what should have been a cyclical upturn in the economy. This has forced hundreds of thousands of people to get on the government dole. This is planned scheme - if you don't think so, you need to expand your reading horizon. 2) Without any doubt at all, abuse is rampant. It's no coincidence that disability claims have skyrocketed.
No one is beating on the poor.
Bullshit. LOTS of folks here have been beating on the poor for as long as I've been here.
It's probably the fourth or fifth most common comment ranked by frequency:
beating on Obama,
beating on bankers,
beating on [political affiliation],
beating on [ethnic/racial affiliation],
beating on the poor.
The vast majority of these beat-downs are well deserved, but lets be honest, eh?
Yes, and its something that started back in 2000. Food Stamp usage did not just start to rise since 2007, its been rising since 2000. This is unprecedented and is clearly indicative that there is a structural change in USA--the rush to poverty and becoming a third world nation.
The price action of the economy may have changed forever, but the status quo has not. We all know people live paycheck to paycheck, but although it is true that wages have not approaved nominally, and have decreased in real terms, there is a more important point to address: people are not looking at establishing themselves financially; people are not protecting their wealth.
The buy/spend everything you have now meme is intact. People live pay check to paycheck when they have to, yes, but even those that earn what could save them a retirement blow it all to have the cool car, the poshe sound system, the new outfit, the new iWhatever. They spend their last dime of the month or even go into debt.
The interesting part of this is that wealth creation has changed and changed dramatically. The bank bailout showed the government is here to keep the status quo in place at all costs. The government is not here to help anyone person, just the corporate power structure.
This is well known. Everyone knows it. Yet people continue to ride the consumer wave at all cost. And this is the reason why nothing has changed.
The system will not change on its own. The government is a puppet for the system. The system wants to maintain the status quo. The status quo is that the corporations run the power structure.
So here are the people of the system - kidnapped by the system, yet not willing to change. But it could change. If people took it upon themselves to at least maintain their wealth, or grow their wealth - instead of buying the next iTool - then the system would change, and it would change so that the people were in control of themselves; people would control society not the corporations.
How to do this? Well obviously buying stocks puts wealth into corporations directly. But saving dollars perpetuates the the government side of the power structure. ANother thing to consider is both only lay claim to wealth, neither actually preserve it. Both (the same is also true for owning corporate/government bonds) are merely IOUs.
The only way to preserve wealth in a simple form is owning precious metal bullion. Everything else has a counter party risk. Owning land may get close, but the government knows where that land is and as we have seen lately people can get their house and land taken for no reason. Land is an easy target. It could be prosperious and yield a bounty, but it is an easy target. The ruling class, be they Kings or governments will always be able to rule a landowner (unless all landowners rise up, which will only happen every few thousand years).
So until people take back the bullion - which defines money, has acted as money for thousands of years, and has no counter party risk - there will be no change. We will be at the behest of the corporate power structure.
All this pain because some jerk offs want fractional reserve banking and debt as money. There ought to be a law.....
De chert, it's lebblin off, cunt u c? Dus luuk! I tuud u, RObamney wid sav hus! Cunt u heer me, u hav eerh infucktion? Dunt eaht no rhed pihls.