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Don't Show This Chart To The President

Tyler Durden's picture





 

One can write lengthy essays, op-eds, and client letters explaining both why the labor force participation rate is plunging due to innocuous reasons such as everyone over 40 retiring yesterday full of jouissance and excitement to begin the sunset phase of their lives using copious life savings earning 0.0001% in interest, or, inversely, why this is one great big propaganda ploy by the BLS to make Obama look good a few short months ahead of the pre-election debt ceiling breach, pardon, his re-election date. We prefer cutting to the chase. Here is today's chart of the day from BofA, which begs one simple question: when will the two time series recouple, because recouple they will, and how will America react to the realization it was lied to for 2% worth of unemployment "improvement"? The chart says it all.

 


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Mon, 04/09/2012 - 07:56 | Link to Comment The Alarmist
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With a yawn!

Mon, 04/09/2012 - 08:06 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Crap.....turns out NO WE CAN"T.

 

No problem....we'll just blame it on Valerie. She was always going to be the fall chick in the end anyway.

 

Mon, 04/09/2012 - 08:20 | Link to Comment The Alarmist
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Michelle would get walking papers before Val.

Mon, 04/09/2012 - 08:41 | Link to Comment SWRichmond
SWRichmond's picture

How do these effin idealogues insinuate themselves into the halls of power?  I think it must be a testament to the vanity, venality and stupidity of politicians.  Thus it has always been, it seems.  My god, Karl effin Rove is still on TV acting like he knows something.

Mon, 04/09/2012 - 09:07 | Link to Comment newworldorder
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This is a testament to the vanity, stupidity and we dont give a s--t attiitude of the American electorate when selecting their leaders.

Mon, 04/09/2012 - 09:15 | Link to Comment KickIce
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It's been a theme throughout history.  Evil seeks power and then proceeds to abuse said power.

Mon, 04/09/2012 - 09:40 | Link to Comment economics9698
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Politicians are thugs with guns who rip you off.  Why is this so complex?

Mon, 04/09/2012 - 10:20 | Link to Comment derek_vineyard
derek_vineyard's picture

are we winning the future?

Mon, 04/09/2012 - 10:50 | Link to Comment The Alarmist
The Alarmist's picture

Yes, we can. We has won it in 2008.

Mon, 04/09/2012 - 11:55 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

since when does Obama give a shit about facts? This is the most ideologically driven political leader since Lenin.

Mon, 04/09/2012 - 15:11 | Link to Comment Problem Is
Problem Is's picture

Amerikan Exceptionalism

The Useful Idiot Barry Soetoro is not a leader, makes no decisions and has no policies...

The bitch simply follows orders and reads what is loaded into the Teleprompter for him...

Mon, 04/09/2012 - 12:07 | Link to Comment A Nanny Moose
A Nanny Moose's picture

I don't think they are innately evil. Just unproductive boobs with no value to add to society, other than their cult of personality...which was created by someone else.

Power just transforms them.

“In questions of power, let no more be heard of confidence in man, but bind him down from mischief by the chains of the Constitution.” Thomas Jefferson

Mon, 04/09/2012 - 09:23 | Link to Comment Chuck Walla
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@SWRichmond  apparently you have never heard of creating welfare recipients in exchange for votes. A class of people so stupid, they take a few dollars for their vote while their new masters take millions from everyone else with the help of the deliberately ignorant.  Every time a Democrat talks about "sharing the wealth" remember what Pelosi steals through preferential IPOs vs. Pookie in the 'hood getting shot down for his corner.

Mon, 04/09/2012 - 09:31 | Link to Comment narapoiddyslexia
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Corporate welfare makes the individual welfare you're obsessed with look trivial. The welfare you complain about is designed by your corporate masters so you'll think you have something to complain about.

Mon, 04/09/2012 - 11:15 | Link to Comment donsluck
donsluck's picture

Correct +1

Mon, 04/09/2012 - 11:48 | Link to Comment Maghreb
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You are both correct its just one of you sounds more likely to vote Republican and the other Democrat. Rhis is the tragedy of the situation.......

Mon, 04/09/2012 - 12:30 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Individual welfare, entitlements, and other "insurance" programs comprise the largest part of the budget and the debt. If you mean to say that individual welfare is merely fascism in disguise (regard JPMC and food stamps, Healthcare reform, Medicare, WIC, SCHIP, Pewblk Skews, etc), then you are probably correct. It is designed, not for complaints, but pacification and control.

None of this is about us vs. them, corp vs. individual, or any other hypercategorized divisive classwarfare bullshit. This is about coercion under threat of violence by a corporate monopoly known as the United States vs. volunteerism.

Mon, 04/09/2012 - 09:30 | Link to Comment non_anon
non_anon's picture

The Peter Principle

The principle holds that in a hierarchy, members are promoted so long as they work competently. Eventually they are promoted to a position at which they are no longer competent (their "level of incompetence"), and there they remain, being unable to earn further promotions.

http://en.wikipedia.org/wiki/Peter_Principle

Of course O reached the pinnacle.

Mon, 04/09/2012 - 09:47 | Link to Comment Normalcy Bias
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IMHO, O's position is more due to White Guilt...

Mon, 04/09/2012 - 10:10 | Link to Comment non_anon
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not I

Mon, 04/09/2012 - 11:37 | Link to Comment Normalcy Bias
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Yeah, I suppose if he were white, he would've been admitted to an Ivy, and his handlers would've backed him for President...

Mon, 04/09/2012 - 14:05 | Link to Comment PrinceDraxx
PrinceDraxx's picture

For damn sure he has hit his level of total incompetence.

Mon, 04/09/2012 - 09:56 | Link to Comment Jake88
Jake88's picture

no he can't

Mon, 04/09/2012 - 07:56 | Link to Comment mrgneiss
mrgneiss's picture

Don't show him this website either, the news is not good.

http://poleshift.ning.com/

But it is survivable.

Mon, 04/09/2012 - 08:37 | Link to Comment knukles
knukles's picture

Pabulum aside, Intrade's got him at 60+%
He gets reelected, it's the fucking "Republicans" (Shoulda been trade marked for true bearings a la Goldwater, etc.) own fault for abandoning olde principles as exemplified by Ron Paul, in favor of the "Kick and Stick" tm (It to the peasantry.)

Mon, 04/09/2012 - 11:19 | Link to Comment donsluck
donsluck's picture

I suspect the GOP doesn't want to win it this time. After all, Obama is very close to being a Republican anyways.

Mon, 04/09/2012 - 21:20 | Link to Comment KCMLO
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I think you might be on somewhat of the right track.  I think the Republicans sent out their B or even Q squad on this election.  Any real contenders wouldn't bother considering they're going after an incumbent.  Let's face it, we're so blatantly fat and stupid that we don't vote those guys out.  This is just setting it up so the Republicans can sit it out and say "we told you so" for the next 4 years so they can take the higher percentage shot in 2016.  Meanwhile... well... fuck all of us.  (obvious exception to Ron Paul)

Mon, 04/09/2012 - 08:01 | Link to Comment Thamesford
Thamesford's picture

Dimming the Future!

Mon, 04/09/2012 - 08:02 | Link to Comment fbrothers
fbrothers's picture

"Everybody knows the boat is leaking, everybody knows the dice are loaded"  L. Cohen

Mon, 04/09/2012 - 08:55 | Link to Comment scatterbrains
scatterbrains's picture

yup loaded dice. This chart is evidence that they are in full on pump and dump mode. By skewing the data and using things like HFT to lift the market using very minimal ammunition they are able to suck in the retards while slow and steady getting loaded on the other side of this pump phase. The question is when do they execute the dump.. I say right now.

Mon, 04/09/2012 - 08:02 | Link to Comment Buzzworthy
Buzzworthy's picture

Like Obama cares.  If he did he wouldn't be a free trader.

Mon, 04/09/2012 - 08:05 | Link to Comment HowardBeale
HowardBeale's picture

Looks lke the official policy of lying started just after 9/11 (2003) and has been exaggerated (exponentially) of late...

Mon, 04/09/2012 - 08:16 | Link to Comment eddiebe
eddiebe's picture

No, it started with Adam and Eve or even before that.

Mon, 04/09/2012 - 11:00 | Link to Comment Gohn Galt
Gohn Galt's picture

Good call.  And I thought ancient pre Judaism history and Nagaland of that era was completely lost outside of Goyim history.

Mon, 04/09/2012 - 08:28 | Link to Comment resurger
resurger's picture

lol

Mon, 04/09/2012 - 08:09 | Link to Comment fastoneone
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orwellian news management

Mon, 04/09/2012 - 08:40 | Link to Comment knukles
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Talking about propaganda, thei a.m. as the alarm went off, I turned on CNBS (no volume) simply to see the numbers.  Everything is bad, down, dismal, rancid, troublesome....as forecast.
BUT  No gold quotes.  Like is even normal for them... as the number was up.

Orwell was right

Mon, 04/09/2012 - 15:17 | Link to Comment Problem Is
Problem Is's picture

Cheer Up Knukles!

Orwell was hired by them to write you a road guide and pre condition you for your future...

Mon, 04/09/2012 - 08:14 | Link to Comment Conman
Conman's picture

Aww come on don't blame obummer. Like old man mccain could have done any better? Did we forget Palin?! I don't blame the gov'ment. They gotta keep the sham going, because really .. what is the alternative. imagine all those welfare recipients without aid. Would not be pretty.

 

Any president who wins the next election will land in the perfect storm of shit. Where the shit hits the level 5 hurricanes.

Mon, 04/09/2012 - 08:21 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

........and that leaves us where again?

 

Mon, 04/09/2012 - 08:24 | Link to Comment fadgadget
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that leaves us all covered in shit.

Mon, 04/09/2012 - 08:32 | Link to Comment GetZeeGold
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Crap....I was really hoping someone was going to sugarcoat it for me.

 

Mon, 04/09/2012 - 08:56 | Link to Comment HurricaneSeason
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I've done the eyewall of three-level 2s. 5s are just windier and we're sure to beat expectations. Bullish.

Mon, 04/09/2012 - 08:59 | Link to Comment The Alarmist
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Q: "How do you know he's a king?"
A: "He doesn't have shit all over 'im."

Mon, 04/09/2012 - 09:46 | Link to Comment V in PA
V in PA's picture

Crap....I was really hoping someone was going to sugarcoat it for me.

 

Who says he didn't?

Mon, 04/09/2012 - 08:22 | Link to Comment francis_sawyer
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 "Any president who wins the next election will land in the perfect storm of shit. Where the shit hits the level 5 hurricanes"

~~~

They could always just say they "inherited" the whole mess, blame it all on Bush & spend the next 4 years playing golf & going on vacations... If I knew the job was that easy, I'd make a run for it myself...

Mon, 04/09/2012 - 08:42 | Link to Comment LawsofPhysics
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Still believe the two-party lie francis?  That's a good sheep.

Mon, 04/09/2012 - 13:01 | Link to Comment francis_sawyer
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I think you missed the /sarc tag there...

I'm referring simply to Obama (or any potential candidate)... You have a chance, you have a choice... Obama blew it... If Romney wins, I'm all but certain he'll blow it too... I'd take my chances with Ron Paul (but the office probably means nothing anymore)... Mostly ~ when I take to bashing Obama, I'm actually bashing all the 'sheep' who mindlessly got conned by the pied piper in 2008...

NEXT...

Mon, 04/09/2012 - 09:04 | Link to Comment The Alarmist
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It would be more correct to note that we got such a lame field of Presidential wannabes because those who had half a brain between their ears didn't want to face the contemporary version of the Kobiyashi Maru, and those few remaining either think they are clever enough to cheat their way through this mess or have no idea what they are up against.

"Strange game, Professor Falken. The only winning move is not to play."

Mon, 04/09/2012 - 13:22 | Link to Comment Catch-22
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They could always just say they "inherited" the whole mess...


Write Two Letters*

 

* When Krushchev left office he handed his successor two letters. He said that if he ever got into a jam that he couldn't find a way out of, he should open the first letter. And then, if he managed to get into another jam that he couldn't get out of, to open the second letter.

At some point later, the guy got into a terrific mess and remembered the letters, so he dug out the first letter and opened it. It said, "Blame everything on me, your predecessor."

Well, this worked out great, and things went along for a while until, inevitably, he got into another situation that there was just no way out of. So, he opened the second letter. It said, "Sit down. Write two letters."  J. Barnard

Mon, 04/09/2012 - 13:13 | Link to Comment Uncle Keith
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In this case, "Welfare Recipients" = Armed DoD Contractors and, Other X-Miltary types. 

Mon, 04/09/2012 - 15:43 | Link to Comment Problem Is
Problem Is's picture

"will land in the perfect storm of shit. Where the shit hits the level 5 hurricanes."

Are you calling for a Shiticain or a Shitnami ...?

Mon, 04/09/2012 - 08:12 | Link to Comment Oldwood
Oldwood's picture

We are missing the big picture here! Obama is successfully converting our economy into all independent contractors while reducing the number of unemployed. Small businesses of one each, and now we can be classified as the bad guys, the evil rich business owners, even though we have no work and make no money! Perfect! Next we will be asked to pay unemployment insurance on ourselves. You got to love it when a plan comes together.

Mon, 04/09/2012 - 08:28 | Link to Comment WonderDawg
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Obama is doing all this? Come on. He's just not that smart. Wake up and understand he's just the front man. He takes orders, he doesn't give them. Just like Bush before him, and Clinton before him, and on and on, and so it will be with whoever is "elected" next.

Mon, 04/09/2012 - 08:33 | Link to Comment Oldwood
Oldwood's picture

AS Obama claims credit for everything he believes as positive, I will give him credit for this as well. If you want absolute blame, it falls on us as we allow it to happen. I just don't take credit for it.

Mon, 04/09/2012 - 08:50 | Link to Comment DeadFred
DeadFred's picture

Who's next to be voted off Dancing With the Stars? What dances will they dance? Is Gladys too old to keep up with the youngsters? Is Erkel going to have a comeback? Will we EVER get to see a wardrobe malfunction on one of those skimpy costumes?... Oh, you were saying something about unemployment?

That will be the reaction when they realize they've been lied to. Sheep are sheep.

Mon, 04/09/2012 - 14:29 | Link to Comment Westcoastliberal
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As I've said here before, IMHO Cheney is still running things from "Site R".  Why else would a Democratic president continue promoting the neo-con agenda? (Wars, torture, Gitmo, NDAA, and that most recent pesky executive order dubbing himself "King").

Mon, 04/09/2012 - 09:08 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Don't forget to pay your healthcare insurance or you'll go to jail, unless you have money for big fines and lawyers, that you apparently didn't have for health insurance. We need to make the jails nicer and work it from the back end. I think some countries in Europe are suppose to have nice jails, but I can't remember which ones. Maybe more work release.

Mon, 04/09/2012 - 10:23 | Link to Comment Seditious Blasphemer
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If you get a waiver from the President, then you dont have to obey his "signature" health care legislation.

Just sayin'.

Mon, 04/09/2012 - 08:15 | Link to Comment eddiebe
eddiebe's picture

I would imagine the President is quite aware of what the chart shows. Problem is he most likely doesnt give a crap, and if he did, not enough to jeopardize his life by doing something about it.

Mon, 04/09/2012 - 08:23 | Link to Comment tarsubil
tarsubil's picture

He doesn't care to know. He figured out that everything is BS when he was an organizer. Since then, his policy has been to read the words and get the benefits.

Mon, 04/09/2012 - 08:48 | Link to Comment mayhem_korner
mayhem_korner's picture

I would imagine the President is quite aware of what the chart shows.

 

I would imagine he's aware of his golf handicap as well, but that doesn't prevent him from carding a 77 gross every time he plays 18. 

He cares about perception and perception only.  Facts are only in the mix when they meet the objectives of the narrative; otherwise, they serve only to anchor obfuscation. 

Mon, 04/09/2012 - 08:20 | Link to Comment lizzy36
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Clearly the solution is more Green Jobs.

Volt 2.0: the better exploding model.

Mon, 04/09/2012 - 08:22 | Link to Comment Conman
Conman's picture

Yup - US politics = payola for you campaign contributers. solyndra, chevy, gm. Is it any diff from dems to Repubs? nope. burn it all down - i want my stapler.

Mon, 04/09/2012 - 08:21 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

A read of these Hussman comments, just linked by ZH, tells the story...

"Is the Fed Promoting Recovery or Desperation? (Hussman)"

"Last week, we observed "Real income declined month-over-month in the latest report, which is very much at odds with the job creation figures unless that job creation reflects extraordinarily low-paying jobs. Real disposable income growth has now dropped to just 0.3% year-over-year, which is lower than the rate that is typically observed even in recessions." It wasn't quite clear what was going on until I read a comment by David Rosenberg, who noted that much of the recent growth in payrolls has been in "55 years and over" cohort. Suddenly, 2 and 2 became 4.

For most of history prior to the late-1990's, employment growth in the 55-and-over cohort was a fairly small and stable segment of total employment growth. Undoubtedly, part of the recent increase has simply been a change in the classification of existing workers as they've aged (1945 + 55 = 2000, so the we would have expected to see some gradual bulge in this bracket since 2000 due to aging baby boomers). But the shift is too large to be explained simply by reclassification. Something more troubling has been underway.

Beginning first with Alan Greenspan, and then with Ben Bernanke, the Fed has increasingly pursued policies of suppressing interest rates, even driving real interest rates to negative levels after inflation. Combine this with the bursting of two Fed-enabled (if not Fed-induced) bubbles - one in stocks and one in housing, and the over-55 cohort has suffered an assault on its financial security: a difficult trifecta that includes the loss of interest income, the loss of portfolio value, and the loss of home equity. All of these have combined to provoke a delay in retirement plans and a need for these individuals to re-enter the labor force.

In short, what we've observed in the employment figures is not recovery, but desperation. Having starved savers of interest income, and having repeatedly subjected investors to Fed-induced financial bubbles that create volatility without durable returns, the Fed has successfully provoked job growth of the obligatory, low-wage variety. Over the past year, the majority of this growth has been in the 55-and-over cohort, while growth has turned down among other workers. Meanwhile, overall labor force participation continues to fall as discouraged workers leave the labor force entirely, which is the primary reason the unemployment rate has declined. All of this reflects not health, but despair, and explains why real disposable income has grown by only 0.3% over the past year. "

Mon, 04/09/2012 - 08:35 | Link to Comment francis_sawyer
francis_sawyer's picture

Many are missing a golden opportunity here to reconfigure lives & get ready for the next paradigm...

In many or most countries in the world, generations of families stick together &/or live under one roof... Instead ~ in America, for generations, the attitude has been to "leave the nest" (which is usually accompanied by going into debt, whether it be by paying for an ever more useless college diploma, or, simply to live "large" by a standard that they see coming out of the TV box)...

Now, arguably, while a social welfare system still exists (social security/medicare, etc.), you have elders either living alone, or wasting their incomes trying to "go it alone"...

I really think that if there were some kind of significant migration of children that would move back with their parents/grandparents, etc. You'd see a great potential of CONSOLIDATION (whereby tasks were shared, & income was preserved)...

I'm generalizing here, but my main point is that there still exists tremendous WASTE in this country, which is fueled by mindlessly staying on the hamster wheel & failure to pool resources...

 

Mon, 04/09/2012 - 08:44 | Link to Comment realtick
realtick's picture

Very well said.

 

Mon, 04/09/2012 - 08:51 | Link to Comment 10mm
10mm's picture

Your not generalizing,your making complete fucking scense.I stated yrs ago  about families living so far apart and recieved glassy eyed dead pan looks.

Mon, 04/09/2012 - 08:51 | Link to Comment mayhem_korner
mayhem_korner's picture

there still exists tremendous WASTE in this country, which is fueled by mindlessly staying on the hamster wheel

 

To the current slate of statists running the place, that waste is exactly the opportunity they capitalize on to create dependency on the central government.  And thus it will not only continue but will be encouraged through unending access to easy fiat. 

Mon, 04/09/2012 - 08:59 | Link to Comment Oldwood
Oldwood's picture

I think you may have missed it. Children have been moving back in with their parents for the last ten years and increasing. It's called financial neccessity. There may be a market for larger homes after all!

Mon, 04/09/2012 - 09:23 | Link to Comment francis_sawyer
francis_sawyer's picture

I realize that it is slowly increasing...

I think when the term "necessity" finally gets replaced with "WISDOM" (which will come when the stigma part of the equation vanishes), then we'll be on the right path...

Oddly (vis-a-vis your comment about "larger homes"), I think a lot of businesses may flourish as result of the paradigm shift (especially those who cater to the supply needs of the restructuring)... There is a new 'Tractor Supply' store to be open soon near me which I'm happy about & the local 'Southern States' does well...

~~~

I'm long lumber suppliers & short dog walkers, personal shoppers, & cosmetics specialists...

 

Mon, 04/09/2012 - 09:22 | Link to Comment i-dog
i-dog's picture

That's the main reason why TPTB foster the generation divides (Boomer vs. GenX vs. Millenials) ... to keep families apart and promote more debt.

Every time I see Quinn, or other shills, fostering that generation divide on here, I can only face-palm at the stupidity of it. While the generations are diverted into name-calling each other, the real villians are skating off with the actual loot (and storing the IOUs...to be called in later)!

Mon, 04/09/2012 - 09:28 | Link to Comment Vendetta
Vendetta's picture

it has already happened.  My 26 year old nephew lives with his dad and a coworker I worked with last year had his kids age 17 to 29 all living at home (he is ex military with a good job)

Mon, 04/09/2012 - 09:55 | Link to Comment ElvisDog
ElvisDog's picture

Interesting, and what would families moving back in together do to the housing market and housing demand? (I already know the answer to that one...)

Mon, 04/09/2012 - 11:32 | Link to Comment Diogenes
Diogenes's picture

Try to keep up. In the past 5 years unprecedented numbers of young people have been forced to move back in with their parents or stay at home due to lack of opportunity. Meanwhile unprecedented numbers of grownups have lost their jobs and/or houses. So if you want 2, 3 or more generations living under one roof your dream has come true.

Mon, 04/09/2012 - 09:39 | Link to Comment newworldorder
newworldorder's picture

Snidley,

"the over-55 cohort has suffered an assault on its financial security: a difficult trifecta that includes the loss of interest income, the loss of portfolio value, and the loss of home equity. All of these have combined to provoke a delay in retirement plans and a need for these individuals to re-enter the labor force."

As an ex "Human Resources" observer I can tell you that they have lost the respect for the value of their work. Try being unemployed, over 50 and not in a "protected class" and you will find out what this is all about. Hiring managers and those under 50 team members who make hiring decisions do not want older people working with them. If you dont want to smooze over coffee and drinks and are not able to talk about handbags and shoes or sports and the sporting life, you will most likely stay on the outside looking in.

Mon, 04/09/2012 - 10:01 | Link to Comment ElvisDog
ElvisDog's picture

I have recent firsthand experience with this. At a branch meeting last week, the subject of new hiring came up. A senior manager stated explicitly that new hiring would be limited and would emphasize (as he put it) people at the beginning of their career track. So, they will prefer youth over experience. The stated purpose was to make the overall work force younger, which I guess I can understand, but it sucks for anyone over 40 looking for that job regardless of their experience or capabilities.

As a side benefit, the "only hire young policy" puts the fear of God into anyone like me who has a good job, because I know if I lose it for whatever reason I won't find a comparable one. Basically, I'll do whatever they ask me to do and work however many hours that want me to work.

Mon, 04/09/2012 - 11:28 | Link to Comment donsluck
donsluck's picture

Fear has made you a slave.

Mon, 04/09/2012 - 12:42 | Link to Comment ElvisDog
ElvisDog's picture

Well "slave" is a little harsh. The truth is I like my current lifestyle and want to maintain it as long as I can. I suppose it would be more "noble" if I turned my back on creature comforts and lived under a bridge in a brave and virtuous fashion but I'm not going to do that. Your comment has a hint of bitterness about it - perhaps someone who is underemployed or unemployed who feels better by calling those with good jobs a "slave"?

Mon, 04/09/2012 - 14:28 | Link to Comment toady
toady's picture

That fear is a tremendous weapon.

I can't remember how many times I heard that exact quote from co-workers. Truthfully, I was a little afraid of losing my job until it happened.

Now I wouldn't go back if they paid me!

Mon, 04/09/2012 - 08:22 | Link to Comment SumGuy
SumGuy's picture

Simple.  People are not dropping out of the labor force.  More people are working under the table.  It's called the underground economy.  Working for cash.  This is why we are seeing increasing attempts by the gov't to scan every piece of e-mail and text message.  This is the IRS program "No dollar left behind" program.  Let no dollar of income go un-reported and un-taxed.  You sell something on ebay or craigs list - you rent yourself out as a handiman, the IRS will eventually find out.

 

 

Mon, 04/09/2012 - 08:28 | Link to Comment LawsofPhysics
LawsofPhysics's picture

There you go.  Long black markets.

Mon, 04/09/2012 - 08:45 | Link to Comment SumGuy
SumGuy's picture

Are you kidding? Go long IRS...

 

Mon, 04/09/2012 - 08:59 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Why? they can have all my paper, but that is all they will have.

Mon, 04/09/2012 - 08:32 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

SumGuy... I buy your conclusions but judging from the yard sales and flea mkts that I frequent 'the people' have already sold off their 'good stuff' and now what one finds is stuff from Wally World being sold for near new prices... and the Wally World stuff was junk from jump street.

If the IRS is counting on proceeds from current yard sales to fill the treasury coffers they are in for a big let down.

Working under the table? Could be a lot of that ongoing but I am not seeing it among my aquaintences. Most are collecting unemployment and/or spending their time in activities that cost little... like fishing from the shores and piers, etc.

Mon, 04/09/2012 - 08:48 | Link to Comment SumGuy
SumGuy's picture

Every time a new iSlave device comes out, or Air Jordan shoes, people stampede the stores to get their hands on them so they can turn around and sell them on-line (in the case of Air Jordan - 5 to 10 times what they paid for them).

 

Mon, 04/09/2012 - 09:06 | Link to Comment The Alarmist
The Alarmist's picture

I have this picture of 100m peasants working out depreciation recapture on their e-bay wares so their profits are correctly taxed ... Yeah, that will really fly. IRS will assume the entire sale proceeds are gain and leave it up to the serfs to figure out otherwise.

Mon, 04/09/2012 - 10:03 | Link to Comment AurorusBorealus
AurorusBorealus's picture

There are no accurate estimates of "under-the-table" labor-force participation, but I would hazard a well-educated guess that black-market labor in the U.S. is declining, not increasing.  It is mostly small businesses with low-wage part-time or seasonal help that hires "under-the-table."  From where I sit, there are few or no small business startups, and the number of small businesses that have 2 or 3 employees are disappearing as demand for their services dries up (small convenience stores, small take-out restaraunts, landscapers, home maintenance HVAC-type work, small building contractors, etc...).

Mon, 04/09/2012 - 08:24 | Link to Comment resurger
resurger's picture

Vote Up if you think ZH has the best members exposing ponzi!

Respect Tyler... you out did yourself as always..

this graph is just gg

Mon, 04/09/2012 - 08:28 | Link to Comment LawsofPhysics
LawsofPhysics's picture

If that chart is allowed to "recouple" in reality, things get ugly real quick.  hence, TPTB will make sure that in reality that never happens.  Same as it ever was.

Mon, 04/09/2012 - 08:33 | Link to Comment Conman
Conman's picture

Yup. Ugly quick and fast. Imagine rodney king LA Riot ugly..... but everywhere. Well maybe not like alaska but you know where and why.

Mon, 04/09/2012 - 08:31 | Link to Comment alfred b.
alfred b.'s picture

 

   ....and all the while, MSM played a complacent role supporting the administration enablers in spreading the lies and misdeeds of the past decade to, for the most part a gullible population eager to drink the kool-aid.

 

 

Mon, 04/09/2012 - 08:40 | Link to Comment Oldwood
Oldwood's picture

Cause we "can't handle the truth!". They wouldn't want us going all crazy and stuff, saying inflamatory things and suggesting that our leaders have screwed us.

Mon, 04/09/2012 - 08:35 | Link to Comment TWSceptic
TWSceptic's picture

I can imagine keynesians look at that chart and think *we urgently need more govt spending*

 

For people in the real world, this chart shows why the so-called recovery is phony, and stimulus plans have done very little for employment, and probably prevented a real recovery.

Mon, 04/09/2012 - 08:37 | Link to Comment francis_sawyer
francis_sawyer's picture

You're making a tremendous assumption there... Namely, that a 'Keynesian' has the capacity of thought...

Mon, 04/09/2012 - 12:08 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

"...be quiet puppy...er I think I killed the economy George"  -Lennie the Keynesian

Mon, 04/09/2012 - 08:36 | Link to Comment Shizzmoney
Shizzmoney's picture

Engineer who sent Obama résumé 2 months ago still unemployed...

Mon, 04/09/2012 - 08:49 | Link to Comment Hobbleknee
Hobbleknee's picture

"But Darin's work choices are limited to North Texas because of a custody agreement for one of his two daughters that prevents him from moving away."

There ya go.  Beggars can't be choosers.

Mon, 04/09/2012 - 08:58 | Link to Comment Conman
Conman's picture

Yup boo frikin hoo. Tell him to tell his sob story to the migrant Foxconn workers that live away from thier family only to come home for  a few days for lunar new year. Move the fuck away from bumbfuck north texas and get a job.

Mon, 04/09/2012 - 09:05 | Link to Comment Oldwood
Oldwood's picture

If you think North Texas is Bumfuck, you best look at where the job opportunities are at. Think the Dakotas! Ultimately we all do what we must, but it doesn't mean we have to like it.

Mon, 04/09/2012 - 08:36 | Link to Comment deepsouthdoug
deepsouthdoug's picture

He wouldn't do jack shit if he saw it.

Mon, 04/09/2012 - 09:14 | Link to Comment Shizzmoney
Shizzmoney's picture

He can't do jack shit.  No POTUS in today's system can, unless they are willing to REALLY go progressive libertarian and buck the system.  Of course the last guy to do that (JFK), got shot.

The Fed Reserve runs the country.  Not the POTUS. 

Mon, 04/09/2012 - 10:03 | Link to Comment Jake88
Jake88's picture

He might write an executive order banishing the publishing of the data and declaring the publisher a threat to national security.

Mon, 04/09/2012 - 08:41 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

How would the sheep react?  They would not believe the truth.

("This ship cannot sink!")

Mon, 04/09/2012 - 08:42 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Show him the chart, and he says 'job well done, fella's, keep up the good work'.

Mon, 04/09/2012 - 08:44 | Link to Comment SheepDog-One
SheepDog-One's picture

Exactly!

Mon, 04/09/2012 - 08:48 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

A nation of sheep breeds a government of wolves.

Mon, 04/09/2012 - 08:46 | Link to Comment Fantasy Planet
Fantasy Planet's picture

That chart makes me think of water slides and summer and fun!  Wheeeee!

Mon, 04/09/2012 - 12:04 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

and the log ride in Da Nang

Mon, 04/09/2012 - 08:47 | Link to Comment km4
km4's picture

DAVID STOCKMAN: It's True, The BLS Data Is Made Up http://read.bi/yabCJS

Bottom Line  on Feb 7, 9:55 AM said: 
@save_the_rustbelt
Over 2 million unemployed longer than 6 months 3 years ago, now over 5 million in that boat. Folks there's the elephant in the room they are trying to hide. +121

Mon, 04/09/2012 - 08:51 | Link to Comment CheapBastard
CheapBastard's picture

0.009%?

You must have the "High Yield Savings CD"

I get only 0.00004%.

Mon, 04/09/2012 - 08:52 | Link to Comment firstdivision
firstdivision's picture

Both the left and right play the same numbers game.  Don't think for one sec this would be any different had McCain won. 

Mon, 04/09/2012 - 09:12 | Link to Comment De minimus
De minimus's picture

"how will America react to the realization it was lied to"

This assumes that anyone will tell them the truth, since that has not been the practice in the past. They are in the fortunate position of being able to lie about their lies and lying and then, blame others without consequence. Why I wonder, is that?

But then there always were at least three different classes in the "classless" society of the old CCCP, and only three ways out depending upon your status. The media were always central to Soviet power and it would seem we learned to practice what they preached, quite well.

Mon, 04/09/2012 - 09:30 | Link to Comment lizzy36
lizzy36's picture

Americans by and large are NOT interested. Too self involved.

CAVEAT: I AM NOT BLAMING ANY ADMINISTRATION - all equally culpable in different ways.

The US managed to succesfully outsource war over the last 10 years.

The political class, with help from the corporates, managed to manipulate the country into a $1T war (with another tens of trillions over next 50 years for the maimed and mangled), with Iraq. Before yanks went to war the "powers that be" knew the intelligence presented to get yanks to attack was false. Has anyone been held responsible or have most yanks simply forgotten? After all it happened over there, with mostly poor soliders and private military contractors.

Most Americans don't know if TARP was passed under the Obama or Bush adminstration.

The bottom line is for whatever reason, most Americans have the attention span of a gnat, and are more interested in singing/dancing with the fat people then anything else.

People here are obviously the exception, but they by no means represent the population of the USA.

The adminstration doesn't even have to lie, because successive adminstrations have gotten away with so much. 

The divide and conquer paradigm of a two party system is winning. My guy vs your gal, winner takes all. 

Sarah Palin was popular because she was an ignorant populist. But hey people liked her, they related to her, she spoke to them. That is politics in America today.Soccer Moms and #USA #USA #USA.

Meanwhile the puppet masters rule,regardless of who the POTUS is, or will be. Yanks get the president the deserve and they came within a couple of percentage points of almost getting Sarah Palin 4 years ago. Never forget that.

Mon, 04/09/2012 - 10:02 | Link to Comment newworldorder
newworldorder's picture

You have captured the essence of how things are in this coutnry. Congrats to your reasoning abilities.

At a functional level including planning for the future, our country has become ungovernable. The trappings of government function, but on a mindless automatic level. We do not have the capability as a people to elect leaders that as a minimum will plan and govern for the good of the country. We have splintered into hundreds of special self interests, racial, religious, economic, gender and class defining. As individuals we have defined ourselves primarily within those interests, and not as Americans overall.

The Republic is lost and those few of us who have a clue are railing against the loss of what once was and may never be again.

Mon, 04/09/2012 - 09:21 | Link to Comment Snakeeyes
Snakeeyes's picture

I am pretty sure they know it. Between emp/pop ratio, food stamps and people NOT in labor force, this is a disaster.

http://confoundedinterest.wordpress.com/2012/04/06/bls-employment-to-population-ratio-falls-teen-unemployment-going-spanish/

Mon, 04/09/2012 - 09:29 | Link to Comment SheepDog-One
SheepDog-One's picture

'To make ObaMao look good'....well hell if people are really that easily fooled and dont see the disaster that looms ahead by being shown a few fake graphs, then the idiots deserve all they will be getting. 

Mon, 04/09/2012 - 09:34 | Link to Comment Oldwood
Oldwood's picture

That's the problem with our society today, no one deserves what they get, good or bad. Justice redistribution!

Mon, 04/09/2012 - 12:02 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Idiocrocy!   "ButtF**kers!"

Mon, 04/09/2012 - 09:31 | Link to Comment realtick
realtick's picture

If Uncle Sam wanted everyone to be in the dark he would not have created the FRED website.

Maybe he's separating the wheat from the chaff:

http://chart.ly/ee8l8ti

 

Mon, 04/09/2012 - 11:14 | Link to Comment newworldorder
newworldorder's picture

Of course its a good thing that unemployment benefits get spent on the economy. This is not the issue.

The issue is new full time job creation above the minimum wage.  Where the average American can raise and provide for his/hers family, without an almost open borders immigration policy and without a race to the bottom competing with 3rd world economies on wage and compensation skales.

All politicians dont want to talk about this. To acknowledge it means that the rest of us might hold them accountable for fixing it. Ideology sounds so much better without a concrete plan of action. The devil is indeed in the details. Details that you are not going to see from either political party in the near future.

Mon, 04/09/2012 - 10:51 | Link to Comment irie1029
irie1029's picture

Why can't / won't MSM get their shit together.  Sheeples probably won't reconize it anyway.  Where to move to.... where to move to ...  This country is fucked... and Romney isn't going to fix it.

Mon, 04/09/2012 - 11:00 | Link to Comment Jake88
Jake88's picture

Romney???? You mean the republican Obama?

Mon, 04/09/2012 - 12:01 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

If hell were to freeze over and Obama lost this election, you're telling me Romney wouldn't be better? 

Chauncey Gardner would be better at this point. 

Mon, 04/09/2012 - 14:25 | Link to Comment Jake88
Jake88's picture

Dream on. Romney is a puppet of the same plutocracy that gave us Obama.  The policies we get will be the same CFR policies we get with Obama.  You are damned right that Chauncey Gardner would be better than Obama.  He'd also be better than Romney.  Ask anyone from Massachusettes.

Mon, 04/09/2012 - 11:40 | Link to Comment LarryDavis
LarryDavis's picture

I desperately hope the scenes of Greece and Spain come to the US.

Mon, 04/09/2012 - 13:28 | Link to Comment ZeroConfidence
ZeroConfidence's picture

"Duuhhhhh... will it affect this week's episode of Idol"?

 

Mon, 04/09/2012 - 13:46 | Link to Comment q99x2
q99x2's picture

Obviously technology has made goods and services a free public utility for many. In other words people are getting paid not to riot. 

Mon, 04/09/2012 - 15:39 | Link to Comment snblitz
snblitz's picture

Again Frederic Batiat's "The Law":

"Now don't tell us beggars that you will act for us, and then toss us, ..., 600,000 francs to keep us quiet, like throwing a bone to gnaw.  We have other claims."

Paid not to riot will not last.

Mon, 04/09/2012 - 14:16 | Link to Comment Westcoastliberal
Westcoastliberal's picture

Meantime, Obama has the DEA working overtime to shut down the only growth industry in California; Medical Cannabis.  Can't take too much revenue away from the Mexican druglords, now can we?

Mon, 04/09/2012 - 21:56 | Link to Comment LarryDavis
LarryDavis's picture

Yeah, lets not forget Big Pharma. We need people addicited to opiates not buying eighths in a controlled setting. It's a great industry but what we do around here is have the following: Americans arresting, incarcerating, and hassling other Americans for basically no fucking reason. We need guys in paramillitary gear and choppers counting plants in Trinity County, but as far as the killings in Mexico let's just take some plants from people behind on their mortgage. In the meantime, you can advertise for alcohol and "prescription" drugs all day (tobacco really got the short end on that class action shit-who knew smoking was bad for you?). When marijuana has lobbyists only then will it ever stand a chance. Though I have never been much of a smoker, I commend Americans growing any plant they can to survive and enjoy life. Americans have said for generations that they want to smoke pot, and even with a "liberal" in the White House little progress is made. Hate to say it because most Republican polticians scare the shit out of me, but this shows what kind of guy Obama really is. He speaks of change and sends the DEA after you. Obama inherited a shitt situation but has done almost NOTHING to improve it.

Mon, 04/09/2012 - 14:37 | Link to Comment neutrinoman
neutrinoman's picture

EPR = (1 - UR)*LFPR

EPR = employment-to-population ratio (working population ratio)

UR = umemployment rate

LFPR = labor force participation rate

leaving aside subtelties, seasonal adjustment, etc., etc. As EPR remains flat and UR falls, LFPR is falling off a cliff -- a slowly unfolding labor market disaster.

Welcome to the New Normal, which isn't supposed to exist. BTW, that chart is surely the explanation for the recent problems with Okun's Law, which was formulated for the US economy circa late 1950s through mid-2000s. We're not used to this: falling unemployment rate = people dropping out of the labor force (mainly), not new jobs.

Mon, 04/09/2012 - 15:32 | Link to Comment snblitz
snblitz's picture

The government now serves itself, rather than the people, though it needs the people at a source of income.

 

This problem is explained very clearly in Frederic Bastiat's "The Law". It is a short read.

 

Mon, 04/09/2012 - 17:16 | Link to Comment neutrinoman
neutrinoman's picture

Everyone's being misled by Okun's Law, which clearly assumes roughly steady LFPR. We're producing a little more than in late 2007, with five million fewer jobs.

Some kind of "Big Reset" has happened in the labor market.

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