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Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

Tyler Durden's picture




 

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

Chart below shows it all - that jump is not a fat finger!

And Labor Force Participation:

This is the largest absolute jump in 'Persons Not In Labor Force' on record...and biggest percentage jump in 30 years.

Chart: Bloomberg

 

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Fri, 02/03/2012 - 09:52 | 2122764 AN0NYM0US
AN0NYM0US's picture

OBAMA

Fri, 02/03/2012 - 09:55 | 2122788 Eireann go Brach
Eireann go Brach's picture

Long live King Barack O'robyomamma, rebuilding Amerika one foodstamp at a time!

Fri, 02/03/2012 - 09:56 | 2122807 EmileLargo
EmileLargo's picture

Worse than Bush and that boggles the mind.

Fri, 02/03/2012 - 10:05 | 2122845 Xkwisetly Paneful
Xkwisetly Paneful's picture

Huh? But they have created so many of these czar jobs and aides for Moochelle?

Sky high food and gas prices, declining wages or exactly what the ultra wealthy adore.

Talk about efficiently eliminating the concept of upward mobility, hardly a better way of doing it.

 

Fri, 02/03/2012 - 10:18 | 2122937 Silver Dreamer
Silver Dreamer's picture

Stuff like this makes you seriously question the intelligence of those around you.  People eat up the propaganda that the unemployment rate is dropping, but try explaining the above facts to them.  They will stare at you like the famous doe in the headlights picture Tyler shares with us from time to time.  The average person is so freakin' ignorant about how these numbers are generated, and trying to explain it to them is a waste of your time.  It's maddening!

Fri, 02/03/2012 - 10:25 | 2122977 EmileLargo
EmileLargo's picture

Markets are "spiking" on this news of ""surprise US jobs growth". It is incredible how thick people can be. Really is incredible.

Fri, 02/03/2012 - 10:34 | 2123010 Oh regional Indian
Oh regional Indian's picture

Emile, most of the money that is goosing the market from the private side is not in people's hands. All funds. People are mutually funding themselves to oblivion. And with with-drawl penalties and tax implications, most cannot.

Don't know the numbers but I'm sure Day Trader and Average J6P trader hardly figure in the market anymore.

 

But here in India, the fog of lies is really really thick. We have our own Sen(less)ex 36,000 punters and a fool born every minute. Black Rock is here, Franklin Templeton is here, Goldman Sachs is here, DB, ING, Barclays..... Globalization, leaches!

ori

/san-onofre-33rd-parallel-4th-7th-feb-window-out-on-a-limb/

 

Fri, 02/03/2012 - 10:41 | 2123031 Thomas
Thomas's picture

Ritholtz is over at Twitter babbling about how the BLS numbers are not fraudulent. Call it what you want.

Fri, 02/03/2012 - 11:18 | 2123170 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Santelli metioned Zero Hedge on CNBC this morning....in fact, he mentioned this article.

Fri, 02/03/2012 - 11:28 | 2123212 Silver Dreamer
Silver Dreamer's picture

It's entertaining to wonder who he is on here.  We all know folks like him are here, and I suspect quite a few do more than browse.

Fri, 02/03/2012 - 11:35 | 2123239 ratso
ratso's picture

I guess Tyler at al have never heard of working off the books.  Everyone I know knows some who is working off the books.  The grey economy is booming.

Fri, 02/03/2012 - 12:02 | 2123264 TruthInSunshine
TruthInSunshine's picture

LOLstatistic of the day:

Wow. But Is the Number Real? 

February 3, 2012, 10:13 am

By FLOYD NORRIS

How many jobs did the American economy add in January?

 

The Labor Department estimated on Friday that the economy gained 243,000 jobs.

 

The department also estimated that the economy lost 2,689,000 jobs in the month.


The difference in the two numbers is in seasonal adjustment. Employment always falls in January, as temporary Christmas jobs end. So the government applies seasonal adjustment factors in an effort to discern the real trend of the economy apart from seasonal fluctuations. The actual survey showed the big loss in jobs. The seasonal adjustments produced the reported gain of 243,000 jobs.


A reason to doubt the number is that there has been a tendency in this cycle for the seasonal factors to overstate moves, in both directions. Labor mobility is down, as fewer workers quit to seek better jobs and employers both hire and fire fewer people than they used to do. If the seasonal adjustment was too large, then the gain should be smaller.

 

LOLstatistics Moment of the Day, sponsored by JP Morgan.

JP Morgan™ reminds everyone to eat their peas.

Fri, 02/03/2012 - 13:41 | 2123854 imbrbing
imbrbing's picture

Correct me if I am wrong here, but arent they really saying we lost 243,000 less than this time last year? I guess only because there are less people to lay off now?

Isn't a loss a loss anymore? This makes my brain hurt

Fri, 02/03/2012 - 14:24 | 2124056 Spirit Of Truth
Spirit Of Truth's picture

The more your brain hurts, the better the job government statisticians are doing.

Bernanke, Obama, etc., are simply fixing the "flaw" Greenspan found in his ideology, i.e., printing money is no longer enough to inflate mass optimism.  Outright mass deception need also be used so the sheeple can 'make believe' all is well in serving Mammon instead of God.  The upset of this false faith, when it comes, will literally be apocalyptic in scale.

Fri, 02/03/2012 - 14:41 | 2124136 Michael
Michael's picture

Everybody knows the government lies and the TV repeats the government lies.

Thu, 03/01/2012 - 09:15 | 2211991 engineertheeconomy
engineertheeconomy's picture

They are FUCKING murduring the FUCKING economy by not FUCKING making FUCKING loans to the FUCKING bottom of the economic FUCKING pyramid

this leaves the FUCKING economy under a FUCKING econmic vaccuum

there is no FUCKING money in the FUCKING economy

EVIL FUCKING COCK SUCKERS

Fri, 02/03/2012 - 20:31 | 2125469 imbrbing
imbrbing's picture

And Harold Camping was THE false prophet. Get ready.

Fri, 02/03/2012 - 19:15 | 2125209 TruthInSunshine
TruthInSunshine's picture

Wow! 243000 New Jobs Created in January

 


Wow! 243,000 New Jobs Created in January

Submitted by Numerian on Fri, 02/03/2012 - 10:24

The headline number from the Unemployment Report this morning showed 243,000 jobs were created, more than the highest estimated increase by any of the economists surveyed before the report was released (the average expected increase from the economist survey was 120,000 jobs). The unemployment rate fell to 8.3%, again lower than predicted, and certainly good news for President Obama. Job growth was nearly across the board – in retail, construction, manufacturing, business services, and the hotel and restaurant industry. You can believe all this if you want, or you can go into the details in the report for some interesting context.

First, ever since the credit crisis of 2008, there has been a trend in the unemployment report that shows a declining participation rate in the job market. While a whopping number of jobs were created in January, a far larger number of people left the labor force - 1,752,000 in fact. The percent of the total working population who did not have jobs rose to 36.7%, an all time high. It’s no wonder the unemployment rate fell, when the denominator shrinks so markedly. The total number of people employed fell by 737,000. So what do you want to celebrate – the 243,000 who got jobs, or the million or so people who dropped by the wayside and are no longer counted in the data?

It makes you wonder how much faith you can put in the Labor Department reports. For example, the government, the business press, and Wall Street rarely report on the fundamental ways in which the US labor market is changing, with so many people dropping out of the work force. The press has had a hard enough time getting to grips with the Labor Department’s Birth/Death model, which over time adds to the number of people reported as employed. The model is supposed to compensate for the inability of the government to get good information on the number of new businesses created every month and which presumably add to employment. The problem is the model has been shown in the past to have significantly overestimated the number of jobs created by new businesses. Economists still don’t know if the model is appropriate, and how much of the 243,000 jobs created this month are the result of the Birth/Death model....

Fri, 02/03/2012 - 12:37 | 2123540 Shocker
Shocker's picture

So even with this entire drop out of workers, we still are getting horrible numbers.

Posted this earlier but seriously, the job situation is still grim

http://www.dailyjobcuts.com

`

Fri, 02/03/2012 - 12:59 | 2123641 LoneCapitalist
LoneCapitalist's picture

I know many people here in michigan who are working "off the books". However, I would not call their financial situation " booming".

Fri, 02/03/2012 - 13:35 | 2123824 Buzz Fuzzel
Buzz Fuzzel's picture

Who produces these statistics? Government bureaucrats  

Who do the government bureaucrats generally vote for? Democrats like Obama

What other statistic does this record drop in participation effect?  The headline unemployment number

What effect does it create on the headline number?  It is lowered

Who benefits from the hyperventilating media reports of lower unemployment? Obama and the Democrats

It is all a circular reference formula which is working and has worked quite well for the ruling elites every since our government starting producing these reports

Fri, 02/03/2012 - 19:09 | 2125198 TruthInSunshine
TruthInSunshine's picture

Unemployment 8.3% for January 2012 - 243000 Jobs, Really?

 ‎ - Economic Populist

...Additionally the 2010 Census data was incorporated into part of the unemployment survey which gives unemployment rates and demographic data. Previously unemployment rates, participation rates were based on the 2000 Census data, with statistical yearly adjustments. Here's the crux of what changed:

The adjustment increased the estimated size of the civilian noninstitutional population in December by 1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and persons not in the labor force by 1,252,000.

Below is a running tally of how many official jobs permanently lost since the official start of this past recession, with the new numbers. Increased population growth, implies the United States needs to create at least 10.27 million jobs or self-employment. This estimate assume a 62.7% civilian non-institutional population to employment ratio, as it was in December 2007, which implies an additional 4.69 million jobs were needed over a 49 month time period beyond the ones already lost.

8.230 million of the 26.87 million part-timers working low hours are doing so because they cannot get full time jobs. We cannot compare the change from last month due to the Census adjustments added to the December data. So, one needs to realize that's a hell of a lot of people stuck in part-time jobs who need full-time work.

The employment to population ratio is now 58.5%, no change from last month and at record lows. You have to go back to the severe recession of 1983, October to find such low ratios. The uber-low ratios are not a structural change, such as all families decided to have a stay at home caretaker, or magically a host of people could retire early, or magically all young people went to school as some want to claim. The low employment to population ratio are people dropping out of the labor count. Once can see this simply by the cliff dive on the ratio during 2008-2010. There is no way magically, suddenly, a huge increase of population volunteered to drop out of the labor force. These ratios are with the 2010 Census population adjustments incorporated.

These numbers are important because unemployment is a ratio, percentage or during a limited time period, the number of people actively looking for a job and counted. Many people are not counted in the official unemployment statistics, yet when looking behind the official numbers it's clear America has more potential workers and less jobs in so called recovery than during one of the worst post WWII recessions.

The January 2012 unemployment report incorporated many statistical adjustments. Additionally one cannot compare the monthly changes between December and January because all of the adjustments are added to the December 2011 data only, not spread out over the entire year, which makes a monthly comparison statistically invalid.

We'll be reviewing sections of this months unemployment report in excruciating detail so check back! Leave your questions in the comments and we'll try to dig out the answer in the BLS data.

Unemployment 8.3% for January 2012 - 243000 Jobs, Really?

 ‎ - Economic Populist

Fri, 02/03/2012 - 11:44 | 2123284 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He referred to it as a "source"....

I just checked my sources, big blogs like Zero Hedge....

Fri, 02/03/2012 - 11:35 | 2123242 The Limerick King
The Limerick King's picture

 

 

Could BLS numbers be fake?

Is National interest at stake?

Could Kleptos lose power

If numbers are dour?

Does Summers eat way too much cake?

Fri, 02/03/2012 - 12:04 | 2123390 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Sipping Coffee with Ben Bernanke

[Elton John's Tiny Dancer plays as Bernanke walks on to the set wearing a sweater vest and kakis]

[APPLAUSE]

Thank you!

[Smiling]

Good morning, and welcome to Sipping Coffee, with me, Ben Bernanke.  Today we have a great show in store for you.  I have some freinds stopping by; Timmah and Law Wrench will be paying us a visit!

[APPLAUSE]

First, a message from our sponsers....

[Are you poor?  Hungry?  Tired?  Yes?  Then you are part of the new slave class!  As part of the new slave class you are free to visit FEMA holiday camps!  You will have the luxery of one hot and two cold meals per day, showers every other day, and a communal TV that you will be able to watch for half an hour a day!  If you have any questions, please call 1-800-BIG-BROS.  We look forward in helping you start a new life....]

[Camera back on Ben]

FEMA camps look like a wonderful place for the new slave class.  It's good to see the US is still so altruistic.

[Ben walks to couches]

I have known these two for quite some time now.  We participate in the same satanic rituals, go to the same country clubs, and all have great disdain for sound money policy.  Join me in welcoming my friends Timmah and Law Wrench.

[Timmah, riding a tricycle, and Law Wrench in a clown car, enter stage left]

Please you two, sit down.

Timmah!

[Law Wrench Farts loudly]

[LAUGHTER]

Great to see you two!  We last spoke during the sacred burning of the dollar ceremony.  How have you been?

Timmah!

[Law Wrench farts loudly]

Great!  Are you two planning on moving out of the country soon, or do you think you own enough land in Montana to survive the economic collapse on the horizon a la Don Rumsfeld?

[Law Wrench is asleep and snoring loudly]

Timmah!

[LAUGHTER]

Me too.  We are going to break, but stay tuned because when we get back these two are going to mud wrestle in human feces!

[Tiny Dancer]

[APPLAUSE]

Fri, 02/03/2012 - 12:26 | 2123506 Creepy Lurker
Creepy Lurker's picture

Indeed, the Tylers have arrived. I got to this article from a Drudge link this morning. Congrats, Tyler.

Fri, 02/03/2012 - 12:59 | 2123639 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Drudge has the Santelli clip up right now.  Looks like we have a paradigm shift in the MSM fast approaching.

Mish better rethink his favorite blog list. 

Fri, 02/03/2012 - 13:30 | 2123804 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And upon further reading, this article is on Drudge.

Hello Drudgers,

Welcome to Fight Club!

Remember, if this is your first night, you have to fight....

Sat, 02/04/2012 - 00:46 | 2125975 sun tzu
sun tzu's picture

Don't worry. They'll shut down blogs like this if things get too bad. 

Fri, 02/03/2012 - 11:43 | 2123279 Whoa Dammit
Whoa Dammit's picture

Thomas,

I call it increasing use of fantasy and irrationality to evade responsiblity in the public/private sectors. Or more succintly: Mental Dysfunction.

Fri, 02/03/2012 - 10:45 | 2123037 Manthong
Manthong's picture

If this is not the top, then it is the signal to go to ground.

.. but then again, it's probably time to go to ground anyway.

Fri, 02/03/2012 - 10:25 | 2122978 dwdollar
dwdollar's picture

If they are cheating on the unemployment number, do you really think they aren't cheating on this number? Participation is much worse than what they show here.

Fri, 02/03/2012 - 11:37 | 2123254 Calmyourself
Calmyourself's picture

Every number, every metric will be fabricated, every stop will be pulled out.  Obama will have the Street, the press, the entire power of organized labor, federal government subverting every law, every custom, every norm.  The RULE OF LAW is over, the rest is smoke mirros and window dressing for the end game..

Fri, 02/03/2012 - 10:26 | 2122986 Gully Foyle
Gully Foyle's picture

Bubbles: We just mind our own business down here at the dump. Nobody comes down here fucking with anybody. I'm just bottling liquor... that's my job. Paid by the hour, no bullshit. Bottling Ray's Good Liquor. It's a dirty, sassy liquor. Ahhh... so sassy.

Fri, 02/03/2012 - 10:51 | 2123057 Normalcy Bias
Normalcy Bias's picture

I'm partial to Ray's Liquor Sauce myself. TPB kills. It's help tide me over until the new season of Eastbound & Down.

Fri, 02/03/2012 - 11:28 | 2123214 HungrySeagull
HungrySeagull's picture

Just another club on the dying horse.

What's a million or 50 mil? Tomorrow it will be revised quietly to 4 mil.

 

Never mind the old 99'ers who are probably all off the rolls by now.

Fri, 02/03/2012 - 10:43 | 2123040 Yamaha
Yamaha's picture

Facts just don't matter anymore. As I travel business in the Northwest US are closing everywhere and people are getting laid off. There doesn't seem to be any improvement in the real world - but I must be on an island.

Fri, 02/03/2012 - 11:36 | 2123227 caerus
caerus's picture

an impressive bit of statistical chicanery indeed

 

edit: interestingly, LIESman is on cnbs insisting that people DID NOT drop out of the workforce

Fri, 02/03/2012 - 11:57 | 2123352 RockyRacoon
RockyRacoon's picture

His comment was interesting.   The Census found more people.  

What?  Were they hiding under rocks or something?

Fri, 02/03/2012 - 12:59 | 2123640 Freddie
Freddie's picture

Thank morons who watch TV.  TV viewers keep these people in power.  If you watch TV or pay for bcable then you enable it.

Sat, 02/04/2012 - 00:50 | 2125984 sun tzu
sun tzu's picture

TV is no different from the internet. People can get Fox, CNN, MSNBC, CNBC etc on the internet. 

Thu, 03/01/2012 - 09:06 | 2211947 engineertheeconomy
engineertheeconomy's picture

sun tzu go back to watching tv you fucking moron

Fri, 02/03/2012 - 10:17 | 2122923 midtowng
midtowng's picture

How can Obama be worse when he's simply carried on the same Bush policies?

Fri, 02/03/2012 - 10:36 | 2123021 Confused
Confused's picture

Bush policies, obama policies.....really no difference. Totally agree. They serve a higher order of evil.

Fri, 02/03/2012 - 10:36 | 2123023 Confused
Confused's picture

Bush policies, obama policies.....really no difference. Totally agree. They serve a higher order of evil.

Fri, 02/03/2012 - 11:06 | 2123126 midtowng
midtowng's picture

I think someone would be hard pressed to find any significant difference between the policies of the two presidencies.

That in itself is increadibly damning to the Obama Administration. In fact, it is the worst possible thing you could say.

Fri, 02/03/2012 - 11:21 | 2123157 Xkwisetly Paneful
Xkwisetly Paneful's picture

I'll play along.

Forget Obamacare and the 168 federal boards and agencies it created along with the uncertainty regarding adding further costs to full time hires which is already a staggering 35% over wages(temp agencies couldn't exist charging 30% if it was less than that).

At no time in the history of the world have US corporations hoarded cash like they are and collected virtual zero percent on it obviously losing to inflation instead of trying to invent the next great mousetrap.

Why would that be? A hint-fear of what is behind the neo marxist's door number three is a leading candidate.

Contrary to some recent lunacy around, economic expansion doesn't come from creating more grocery checkers and toll takers, it comes from the leading edge of the economy.

But thanks for playing.

Fri, 02/03/2012 - 14:16 | 2124028 Freddie
Freddie's picture

Bush sucked but this is light years worse than Bush.  Bush was heaven compared to this sh*t.   John Corzine gets away with stealing $1.2 billion?  Obama runs $1 trillion yearly deficits?  Wide open borders.  The Treasury being looted at light speed.  Inflation around 10% or more.  A servile media and press.  Czars everywhere and they are accountable to no one.  GM and other mega corps getting sweetheart deals, bailouts, frauds, free money.  If Bush had one Solyndra, GM, Fast and Furious gun running or half the sh*t O has done - he would be impeached.  

The f**ks saying there is little difference voted for the muslim.

Fri, 02/03/2012 - 15:01 | 2124198 Cathartes Aura
Cathartes Aura's picture

yeah Fred, and Bush was light years worse than Clinton, who sucked but was light years worse than Dubya's Dad, who sucked but was light years worse than Raygun, who blew the deficit UP by sucking light years worse than. . .

normally I just roll on by you, and others who repeatedly post how the CURRENT FIGUREHEAD is the "worst eva!!!!" - all the while the WHOOSH of reality flashes over heads - but today, what the hell, I'll play your game and "reply" to your wailings:

what amrka has is continuity of governance - seamless, downhill pillaging of whatever can be disappeared while they can, jobs, homes, health, wealth, "resources" - it's a FIRE SALE and all you get is pay-per-view leftovers.  

it doesn't matter WHO is "prezzydent" - they're all in place to give you whiners someone to hate, and someone to "vote out" while you spend your time campaigning, then waiting in line to "cast" your hope for change.

what the fuck ever.

Fri, 02/03/2012 - 11:39 | 2123262 Calmyourself
Calmyourself's picture

Unfortunately he and his statists seem to be much better at implementing stupid ideas than his predecessor.  Keep in mind I do think Obama's rise is all Bush's fault..

Fri, 02/03/2012 - 13:11 | 2123686 LoneCapitalist
LoneCapitalist's picture

Yes, thats a very good point, and btw, I think that merkel is no worse than hitler was.

Sat, 02/04/2012 - 00:51 | 2125987 sun tzu
sun tzu's picture

0bozo is Shrub on steroids and it's giving America hemorrhoids

Fri, 02/03/2012 - 10:35 | 2123020 Nascent_Variable
Nascent_Variable's picture

Of all the things I thought Obama would be when he was elected, I have to admit Bush III was not one of them.

The recent numbers make it official.  Romney be damned, Wall Street has their man, and they intend to cook the books all the way to his second inauguration.

Fri, 02/03/2012 - 11:08 | 2123132 midtowng
midtowng's picture

Romney be damned? Hell, they are both Wall Street boyz. Heads Wall Street wins. Tails Wall Street wins.

Fri, 02/03/2012 - 11:52 | 2123240 TruthInSunshine
TruthInSunshine's picture

LOLstatistic of the day, bitchez, courtesy of the Obama Friendly Floyd Norris of The New York Times:

Wow. But Is the Number Real? 

February 3, 2012, 10:13 am

By FLOYD NORRIS

How many jobs did the American economy add in January?

 

The Labor Department estimated on Friday that the economy gained 243,000 jobs.

 

The department also estimated that the economy lost 2,689,000 jobs in the month.


The difference in the two numbers is in seasonal adjustment. Employment always falls in January, as temporary Christmas jobs end. So the government applies seasonal adjustment factors in an effort to discern the real trend of the economy apart from seasonal fluctuations. The actual survey showed the big loss in jobs. The seasonal adjustments produced the reported gain of 243,000 jobs.


A reason to doubt the number is that there has been a tendency in this cycle for the seasonal factors to overstate moves, in both directions. Labor mobility is down, as fewer workers quit to seek better jobs and employers both hire and fire fewer people than they used to do. If the seasonal adjustment was too large, then the gain should be smaller.

 

 

And that's your LOLstatistics Moment of the Day, bitchez.

 

 

Fri, 02/03/2012 - 12:20 | 2123246 TruthInSunshine
TruthInSunshine's picture

Bullshit Labor Statistics (BLS) is doing its thang...

1.2 million working age people no longer have the honor & privilege of being 'counted' for purposes of tabulating unemployment + inherently flawed 'seasonal january adjustment' + a whole lot of temporary workers @ no benefits and minimum wage = turn an actual survey data of a loss of 2.6 million jobs into a BLS reported gain of 243,000 jobs.

 

Yeah....

....Recovery, bitchez!

Fri, 02/03/2012 - 11:48 | 2123283 Jumbotron
Jumbotron's picture

Although this all started in 1913, this ever increasing decline of America started in earnest with Nixon.  He understood through his advisors and cabinet members including Kissinger, that America was experiencing its first case of collapse.  We were undergoing our domestic Peak Oil event, we were overextended in Viet Nam and we could not pay off our debts with gold anymore.  So, he took us off the gold standard and floated the dollar as a pure fiat currency, which he was now forced into instituting price controls from the obvious inflation that came about because of that.  We turned tail and ran out of Viet Nam, we began to import far more cheaper oil from Saudi Arabia and we went to China to open up trade relations with the very country that helped fund, train and even fought alongside with the VC that kicked our butts in Viet Nam.

And every president since has done nothing about this situation.  Once they saw how the ponzi worked....how it kicked the can down the road so that at least for 4 years if not 8 each president that came after Nixon has not had to go before the America people and say..."Look, history has shown us that nothing is forever.  Everything is born, reaches a peak and then declines to some form of equilibrium.  We have had our day in the sun....now is the time to prepare for our inevitable autumn.  Now is the time to....with honesty and a clear eye.....prepare for our decline to equilibrium.  We can no longer be an empire.  But we do not....at the same time.....have to be relegated to the dustbin of history."

So this is not an Obama or Bush thing.  This is an honesty thing.  And the American people who still elect, still choose their representatives are some of the worst on the planet when it comes to honesty and being clear eyed when it comes to our inevitable decline.  The only saving grace to our national shame is that no one else in history was really honest with themselves and properly prepared themselves from their own culture's decline.

The Bell Curve rules all human endevour not the Wheel in The Sky.  It only represents the eternal rebirth of the delusion that this time is different....that this time we have come up with the answer to finally destroying the Bell Curve forever. 

The Great Ponzi is the Wheel in the Sky.  The Bell Curve is Zerohedge.....because on a long enough timeline.....

Fri, 02/03/2012 - 11:56 | 2123335 francis_sawyer
francis_sawyer's picture

Agreed in principle to most of it... (except this)...

And the American people who still elect, still choose their representatives are some of the worst on the planet when it comes to honesty and being clear eyed when it comes to our inevitable decline...

Americans just walk into voting booths... The DIEBOLD machines choose the representatives...

Fri, 02/03/2012 - 12:59 | 2123637 Jumbotron
Jumbotron's picture

Agreed in principle to most of it... (except this)...

And the American people who still elect, still choose their representatives are some of the worst on the planet when it comes to honesty and being clear eyed when it comes to our inevitable decline...

Americans just walk into voting booths... The DIEBOLD machines choose the representatives...

 

Right....should have said....And the American people who still (OSTENSIBLY) elect, still choose their representatives are some of the worst on the planet when it comes to honesty and being clear eyed when it comes to our inevitable decline...


Fri, 02/03/2012 - 13:15 | 2123703 francis_sawyer
francis_sawyer's picture

Fixed!

Here's a short video on how our democratic system works...

http://www.youtube.com/watch?v=1aBaX9GPSaQ

Fri, 02/03/2012 - 13:38 | 2123840 Jumbotron
Jumbotron's picture

"Maybe in Ohio...BUT NOT IN AMERICA" !!!!!

 

LOL !!!!!

Fri, 02/03/2012 - 15:03 | 2124205 Goldilocks
Goldilocks's picture

Guy: Ookay, now before I execute this order, are you sure you understand the risks of stock ownership?
Homer: Absolutely!
:zooms into Homer's brain, with a bunch of people in a dance line singing 'We're in the money'. Curtains open, revealling a king-kong type creature. End of scene:
Homer: You heard the monkey, make the trade.

homr4.mp3 119kb
http://www.lardlad.com/assets/quotes/season12/BABF22.shtml

Fri, 02/03/2012 - 15:14 | 2124246 Cathartes Aura
Cathartes Aura's picture

thanks Jumbotron, good to read a more "clear eyed" post. . .

And the American people who still elect, still choose their representatives are some of the worst on the planet when it comes to honesty and being clear eyed when it comes to our inevitable decline...

I believe it is the nature of "voting" that assists in this delusion, the nature of "choosing" a side or a player that you can cheer and argue for - identify with - and then spend months arguing and trying to convince others of "your position" - it is a system DEVISED to capture attention and behaviours, it has it's own rules of engagement, and once entertained in the minds, it becomes habitual, an every other year ritual (Congress, President) that guarantees the participants a circus to follow - sports team model - and gets nothing real accomplished but keeping those who play PRE-occupied.

voting.  it's the LEAST you can do.

Fri, 02/03/2012 - 09:56 | 2122809 hedgeless_horseman
hedgeless_horseman's picture

 

 

Chocolate rations have increased!

Fri, 02/03/2012 - 10:04 | 2122851 Ancona
Ancona's picture

Can someone help me find out where the bread line is? I already have my circus tickets......

Fri, 02/03/2012 - 11:02 | 2123112 Matt
Matt's picture

Wal-Mart, 11:59 PM, the day before your SNAP allotment.

Fri, 02/03/2012 - 11:24 | 2123198 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Better bring a tent and a sleeping bag, I heard the lines are long.

Fri, 02/03/2012 - 12:41 | 2123557 quasimodo
quasimodo's picture

Walmarts new motto could be something like this "Give me your poor, your tired, your huddled masses"

oops, never mind I think that is the new FEMA camp motto

Fri, 02/03/2012 - 11:36 | 2123247 prains
prains's picture

can hardly wait for the ersatz lattes

Fri, 02/03/2012 - 22:07 | 2125710 expres12
expres12's picture

There are no lines.  Now the bread is mailed or e deposited...

Fri, 02/03/2012 - 10:58 | 2123083 francis_sawyer
francis_sawyer's picture

That's rayciss!

Fri, 02/03/2012 - 12:08 | 2123431 yogy999
yogy999's picture

Perfect corollary.

 

Fri, 02/03/2012 - 10:14 | 2122909 Quaderratic Probing
Quaderratic Probing's picture

Bloomberg joins CNBC in cheerleading jobs report percentage without speaking of 1.2 million.

Betty lu pom pom girl..... put a bag on your head and stand in the corner ex reporter

Fri, 02/03/2012 - 10:30 | 2123002 Dr. Richard Head
Dr. Richard Head's picture

"It was the most memorable time of my life. It was a touching moment, because I thought this day would never happen.  Iwon't have to worry about putting gas in my car.  I won't have to worry about paying my mortgage.  You know, if I help him he is going to help me." - http://www.youtube.com/watch?v=P36x8rTb3jI

Fri, 02/03/2012 - 12:42 | 2123563 quasimodo
quasimodo's picture

Typical stupid two holer on the dole

Fri, 02/03/2012 - 10:16 | 2122916 midtowng
midtowng's picture

How is this Obama's fault? Do you really think this would have been any different if a Republican was president?

Fri, 02/03/2012 - 10:34 | 2123012 Dr. Richard Head
Dr. Richard Head's picture

True D or R this would have continued.  The fact is that Obama and Bush both support counterfeiting false claims on our labor for the benefit of entities which are failing but closely connected with the government, therefore draining productive capital from the economy.  It is good to be the king.

Fri, 02/03/2012 - 10:37 | 2123026 ElvisDog
ElvisDog's picture

Hah, that's funny midtowng. When actions of the Obama administration become so outrageous and indefensible that even you can't support them, all you have left is the old "well the other guy would have been just as bad". Does that make you sad and reflective or is it just a defense mechanism to prevent you from examining your overall world view?

Fri, 02/03/2012 - 11:03 | 2123115 midtowng
midtowng's picture

I've never defended Obama. I denounce him every day for continuing the policies of the Bush Administration. What policies of Bush HASN'T Obama continued? Doing the bidding of Wall Street bankers? Check. Continuing useless wars? Check. Continuing the assault on civil rights in the country? Check. Backing the same monetary and tax policies? Check.

You guys need to stop screaming "Obama" every time the government does something fucked up, as if electing a Republican would change anything (with the exception of Ron Paul, of course).

Fri, 02/03/2012 - 11:20 | 2123178 roadhazard
roadhazard's picture

The really sad/funny part is that the Obama whiners have nothing better to offer except maybe someone with a birth certificate. Yeah, everyone should vote for the Party that can only think of getting a birth certificate. Credibility out the wazoo right there. America deserves what it gets.

Ron Paul would Never get the repubican nomination, never.

Fri, 02/03/2012 - 11:54 | 2123316 Dr. Richard Head
Dr. Richard Head's picture

Had a conversation with an Obama supporter.  I said I wasn't looking to debate her, but was curious as to what Obama has done different than Bush.  Here response was that Obama has been better at diplomacy than Bush.  So it's official, the majority of those politically active listen to rhetoric and ignore actual actions. 

I'll be in the bathroom for a an auto-asfixia erótica session if any of you need me.

 

Fri, 02/03/2012 - 11:24 | 2123189 Dumpster Fire
Dumpster Fire's picture

You guys need to stop screaming "Obama" every time the government does something fucked up, as if electing a Republican would change anything (with the exception of Ron Paul, of course).

 

um

 

I just want to point out that TARP and AIG happened under Bush.

 

lol

Fri, 02/03/2012 - 11:34 | 2123233 Zymurguy
Zymurguy's picture

We're yelling "Obama" because he's the one who is sitting in the White House.  If it were McCain we'd be crying out his name.

Obama didn't inherit shit... neither does ANY president.  They willfullyl paid millions of dollars campaigning to accept the situation and the position whole heartedly.

Fri, 02/03/2012 - 11:40 | 2123265 MrPalladium
MrPalladium's picture

Has it ever occurred to you that the policies of which you complain may be neither Bush policies nor Obama policies but rather policies imposed on them by a small group you know nothing about?

Fri, 02/03/2012 - 12:00 | 2123373 francis_sawyer
francis_sawyer's picture

In defense... I'd have to say that if my head were buried between the breasts of a beer maiden carrying a full mug of beer, not much else would 'occur' to me...

Fri, 02/03/2012 - 15:24 | 2124292 Cathartes Aura
Cathartes Aura's picture

but but. . . does that mean my vote doesn't count??? that I've been wasting my time all these years??? oooh noes.

nah!  you must be wrong.  I'm SURE if we can just elect THIS one guy, HE could make a real difference for me!!!!

 

 

Fri, 02/03/2012 - 10:17 | 2122924 He_Who Carried ...
He_Who Carried The Sun's picture

... trying to dilute and kill today's good news?

Fri, 02/03/2012 - 10:33 | 2123008 hedgeless_horseman
hedgeless_horseman's picture

 

 

Only vampires are afraid of a little sunshine.

Fri, 02/03/2012 - 11:27 | 2123208 graymnzrc
graymnzrc's picture

I feel bad for the majority of people here. It seems that only BAD news is taken as fact in order to re-affirm a person's decision to build a bunker and horde gold. The jobs number (as manipulated as it is) was astounding! Granted, the UE rate is B.S. and I accept that, however to totally disregard a 250k print is equivalent to sticking your head in the sand and chanting your mantra that the sun disappeared.

WTF are you all going to do if in fact TPTB actually inflated their way out of a crisis and pulled off the stick save? Oh I know, you are going to complain about that too.

There is a psychological condition that affects people as they age, essentially the longer you live, the more apt a person is to look at information and interpret it in a way to re-affirm their beliefs. This tends to push people further towards the extremist position on any given issue. That is what is happening here.

Tyler, I want to thank you for the perspective and information that you provide on a daily basis. Unfortunately I believe that you have lost your balance and may have 'jumped the shark'.

I will continue to read but only with the caveat in the back of my mind that this site is an extremely bearish tilt and needs to be taken with a huge grain of salt. At least Ritholz recognizes when he is wrong and tries to provide balanced data.

Oh, sorry, I almost forgot, everyone buy physical gold, bullets and seeds, bitchez!

Fri, 02/03/2012 - 12:01 | 2123381 Apply Force
Apply Force's picture

You, dear sir, do not understand math, at least not exponential functions.  And try peeking out the window every now and then for a look at real-world employment/inflation circumstances before the next generation is spun into soylent green.

Fri, 02/03/2012 - 12:15 | 2123467 Strike Back
Strike Back's picture

Ok, if someone can refute me, please go ahead.  I do my own DD and checked out the numbers myself.  www.bls.gov/news.release/empsit.t17.htm lays it all out. 

Non-seasonally adjusted, the NFP in Dec 11 was 132,952,000.  Non-seas adj Jan 2012 was 130,263,000.  That's a loss of over 2.6 million jobs.

After seasonal adjustments, NFP in Dec 11 was 132,409,000 and Jan 12 was 132,166,000.  A gain of 243,000.  So, the difference between the non-adjusted and adjusted numbers are nearly 3 million jobs.  That's just fucking ridiculous, and any government body that makes such an adjustment needs to quantify it with its audience. Which the BLS doesn't.

Pushing out all of the doom and gloom from my mind, the NFP print does not comport AT ALL to my daily experiences and I have to call utter bullshit on these numbers.  So yeah, gold and silver bitchez.

 

Fri, 02/03/2012 - 11:27 | 2123209 graymnzrc
graymnzrc's picture

I feel bad for the majority of people here. It seems that only BAD news is taken as fact in order to re-affirm a person's decision to build a bunker and horde gold. The jobs number (as manipulated as it is) was astounding! Granted, the UE rate is B.S. and I accept that, however to totally disregard a 250k print is equivalent to sticking your head in the sand and chanting your mantra that the sun disappeared.

WTF are you all going to do if in fact TPTB actually inflated their way out of a crisis and pulled off the stick save? Oh I know, you are going to complain about that too.

There is a psychological condition that affects people as they age, essentially the longer you live, the more apt a person is to look at information and interpret it in a way to re-affirm their beliefs. This tends to push people further towards the extremist position on any given issue. That is what is happening here.

Tyler, I want to thank you for the perspective and information that you provide on a daily basis. Unfortunately I believe that you have lost your balance and may have 'jumped the shark'.

I will continue to read but only with the caveat in the back of my mind that this site is an extremely bearish tilt and needs to be taken with a huge grain of salt. At least Ritholz recognizes when he is wrong and tries to provide balanced data.

Oh, sorry, I almost forgot, everyone buy physical gold, bullets and seeds, bitchez!

Fri, 02/03/2012 - 11:52 | 2123315 number cruncher
number cruncher's picture

graymznrc.... wow there is proof that there is asucker born every minute. 240k print? please check the numbers for yourself. not everyone here is uber bearish , what we are after though is the THE TRUTH . I suggest checking      http://confoundedinterest.wordpress.com

Fri, 02/03/2012 - 11:46 | 2123273 Calmyourself
Calmyourself's picture

Great tit's, no brain.. I've run into that more than once..

What most of these posters possess and you do not is the GESTALT of our overall situation. Digesting the wholeness of our situation with the economic, political and societal implications means those with the capacity to undertsand are of course long term bearish.  Only propaganda guzzlers are not as they have not discoverd truth and enjoy living in the cave barely noticing the shadows outside..

Fri, 02/03/2012 - 15:18 | 2124245 graymnzrc
graymnzrc's picture

a) Sorry for the Double Post

2) In the 40's debt\GDP was even higher then today. World did not end.

iii) My basic point is that even when you get positive reports, they are lambasted but the negative data is taken as gospel. How can you possibly consider yourself 'enlightened' when you are comparing data points that you yourself accuse of being fabricated?

D) The American standard of living is going to have to fall in order to compete in a global environment against developing nations.

5) Always focusing on only the negative perspective will cost you money. Perception isn't truth (yours or mine) but public perceptions can create opportunities.

vi) Don't break out GESTALT B.S., you have no idea of my intellect or awareness. Like I implied, this is not the only economic site I read but by far the most updated but radicalized following.

Fri, 02/03/2012 - 15:43 | 2124346 Calmyourself
Calmyourself's picture

I'll put away the gestalt away when you pull your head out and realize the true situation.  Check out the debt situation, over 700 trillion in derivatives, energy production and transport purposely stifled, highest food stamp numbers in history,  CB"S buying gold hand over fist, but yeah good point employment's up, on a statistical basis.  The conversation was not on the basis of opportunity or public perception but on the gov cooked numers and the true domestic  / global situation; the gestalt...

#2 Seriously?  That's your point..  We just got done blowing the shit out of every possible competitor in the world and that situation is comparable to one in which we have offshored a large percentage of our manufacturing to lower wage competitors with no environmental controls or costs.. 

Yes, in fact with that comment your intellect and awareness is certainly of someones concern.

Fri, 02/03/2012 - 10:22 | 2122958 Ruffcut
Ruffcut's picture

They added those panhandlers off the expressway ramps. Cramer said there are plenty of jobs. Occupy off ramps, while there are still spots.

Obama rama, has begun. Tickets are free. Go to the show, at your own risk. Please walk, don't run.

Fri, 02/03/2012 - 11:05 | 2123121 BLOTTO
BLOTTO's picture

yet - in Canada...

The jobLESS rate continues to SOAR...

The jobless rate ticked higher to 7.6 percent from 7.5 percent, the highest since April 2011, as more people were looking for work.

Analysts in a Reuters poll had predicted 23,100 new positions and a jobless rate holding steady from December at 7.5 percent

http://ca.finance.yahoo.com/news/job-market-ekes-tiny-gain-120806683.html

Fri, 02/03/2012 - 11:38 | 2123257 prains
prains's picture

oooooooooooooh  albertaaaaaaaaaaaaaaaaaaaaaa, sing it baby

Fri, 02/03/2012 - 10:25 | 2122975 Gully Foyle
Gully Foyle's picture

Bubbles: He just waltzes in there, and becomes the king of the carts. What the fuck does he think I'm supposed to do? Go down to E.I. Hey there, yeah, I haul shopping carts out of ponds and sell them back to the store for a living, I've been doing it for eighteen years, so give me a fucking check please. That's not gonna fucking happen. I haven't been paying into U.I., E.I. or whatever the fuck there calling it these days.

Fri, 02/03/2012 - 11:02 | 2123111 4realmoney
Fri, 02/03/2012 - 11:03 | 2123113 William113
William113's picture

But but but King Obama says we are at 8.3 % he wouldn't lie to us.

Fri, 02/03/2012 - 11:39 | 2123259 LiquidityandLunacy
LiquidityandLunacy's picture

Where robo?

Fri, 02/03/2012 - 11:57 | 2123350 Au Shucks
Au Shucks's picture

When will people realize it has NOTHING to do with the President?  The President is a puppet who's ass is so full of hands he shits finger nail clippings.  The President is there to act like a lightening rod coupled with a propaganda tool.  If the public's anger is with the President, it is very simple for those in actual control to foster a debate over a better Presidential candidate and thereby quell uprisings, popular revolt, skepticism about the "two party, free democratic process".  Why instead do we insist on labeling problems dujour the responsibility of the rotating puppet who happens to be sitting in the egg shaped office at the time?  Are we truly insane as a population?  Do we truly not remember the repeated cycle of this game which always goes the same way... false promises, election, more of the same, ousting and replacement with new false promises, rinse, repeat?  The President doesn't even have a SAY in important matters.  It's not a matter of their backbone or convictions, it's a matter of the fact that they would not BE the President if they would not accept their masters' hands rectally.  Obama's fault, Bush's fault, Regan's fault, blah, blah, blah.  No, it is OUR fault for allowing this routine to continue unabated.  We've allowed ourselves to be subjugated to the level of worse than peasant, to ignorant, apathetic peasant.  And why would anybody in power seek to change if not forced to change?  If they did, that would make THEM insane.  I personally believe we are evolving as a humanity and that soon, very soon hopefully, the power structure we live within will be dissolved entirely.  Until then, if you choose to continue wasting your time believing in the "political" system or process, at least do so in a manner that doesn't demonstrate complete lack of understanding and validates the ignorant, apathetic peasant model.

No offense intended, of course.

Fri, 02/03/2012 - 15:31 | 2124305 Cathartes Aura
Cathartes Aura's picture

::cue applause::

voting.  it's the least you can do.

Fri, 02/03/2012 - 13:18 | 2123730 tired1
tired1's picture

FYI; you're getting a boost from Limbaugh about this article.

Fri, 02/03/2012 - 15:32 | 2124310 Cathartes Aura
Cathartes Aura's picture

way cool.  Beck too?

Fri, 02/03/2012 - 15:10 | 2124234 Vidbizz
Vidbizz's picture

Hey, maybe if we get 4 mil more off the Labor Force, we can lower the U3 to ...6%!

Fri, 02/03/2012 - 09:53 | 2122772 Dr. Engali
Dr. Engali's picture

You can't make this shit up, but apparently they can.

Fri, 02/03/2012 - 09:59 | 2122804 Badabing
Badabing's picture

But they do make this shit up!

all of it including the 8:30am silver/gold smack down

Fri, 02/03/2012 - 10:13 | 2122879 The Limerick King
The Limerick King's picture

 

 

Thank God for the UE surprise

Election year hopes can now rise!

All the green shoots

Have sprouted new roots

For we know BLS never lies!!!

Fri, 02/03/2012 - 10:24 | 2122967 francis_sawyer
francis_sawyer's picture

Gonna need a few more paper plates & napkins for all the new 'useless eaters'...

Fri, 02/03/2012 - 10:12 | 2122894 JPM Hater001
JPM Hater001's picture

Good eye old man.  Now everybody - SING!

Sha na na na

Sha na na na

Hey Hey Hey- Good bye.

Fri, 02/03/2012 - 10:14 | 2122910 victor82
victor82's picture

 

You can't make this shit up, but apparently they can.

 

 

With respect, sir, get with the fucking program.

It's "YES WE CAN!"

 

Fri, 02/03/2012 - 10:18 | 2122938 Badabing
Badabing's picture

LOL

Fri, 02/03/2012 - 09:53 | 2122774 michaelsmith_9
michaelsmith_9's picture

Good NFP date is likely to be the catalyst to the market moving higher.  Here is a look at the ES, EURUSD, and CL.  Our bullish expectations continue for the weeks ahead.  http://bit.ly/yQAjAy

Fri, 02/03/2012 - 10:13 | 2122897 Hansel
Hansel's picture

Tyler, I can't figure out what this was supposed to mean: "the non institutional population increased by 242.3 million".  Did you take a BLS statistics course?

Fri, 02/03/2012 - 10:24 | 2122971 Monedas
Monedas's picture

Excludes negroes in jail and liberals in assylums and charity organizations !  Monedas  2012  Muslim Tribal States:Tiny Jewish Democracy = Tom 'n' Jerry Khartoons

Fri, 02/03/2012 - 10:18 | 2122935 grid-b-gone
grid-b-gone's picture

Sell into strength, buy into weakness.

Fri, 02/03/2012 - 09:53 | 2122776 frostfan
frostfan's picture

Yippee, at this rate, I'll be out a job and not participating in no time!!!!!!!

Fri, 02/03/2012 - 10:17 | 2122926 JPM Hater001
JPM Hater001's picture

All you need is the Disability Compensation thing...

http://youtu.be/gkwL8QOYWbk - This really is a must watch if you havent seen the Kids In the Hall...

Fri, 02/03/2012 - 11:38 | 2123256 Matt
Matt's picture

I heard railroads were dangerous, but 98% of people who retire, do so on disability retirement? Even the white collar workers?

Those poor bastards should be getting hazard pay and more comprehensive benefits.

Fri, 02/03/2012 - 10:41 | 2123032 Larry Darrell
Larry Darrell's picture

If all you want out of life is a disability compensation check, they are really easy to get.

 

I met a healthy young man years ago who received this regular check.  Asked him how in the hell he qualified.

He told the board he couldn't work with people because of his mental instability.  Paid a shrink cash under the table to testify on his behalf.

Here's what he told them to seal the deal--I'll never forget it. 

Quote:

"I can't even watch football because when they get into the huddle I know they're all talking about me."

 

 

Fri, 02/03/2012 - 11:08 | 2123133 JPM Hater001
JPM Hater001's picture

I joined a golf club about 15 years ago...public course...and I met a lady who played daily.  She was on disability so she could barely get in 18 holes some day because of her headaches...

Fri, 02/03/2012 - 11:11 | 2123149 pods
pods's picture

<scratches head>

I bet you I could just print out my ZH rants and would not even have to hire a shrink!

pods

Fri, 02/03/2012 - 09:53 | 2122777 RyanW525
RyanW525's picture

I'm sure this is priced into the market....

Fri, 02/03/2012 - 10:12 | 2122890 Schmuck Raker
Schmuck Raker's picture

S&P and EUR diverging like Marty Feldman's eyes.

Fri, 02/03/2012 - 09:53 | 2122778 wonderatitall
wonderatitall's picture

OBAMA, MAKING PEOPLE DISSAPPEAR FASTER THAN JOE STALIN COULD DREAM OF.

 

Fri, 02/03/2012 - 10:09 | 2122880 westerman
westerman's picture

It can be three things: Aliens beeming people to other parts of the universe, a hidden zombie invasion or cheating numbers.

Fri, 02/03/2012 - 12:05 | 2123409 TruthInSunshine
TruthInSunshine's picture

LOLstatistic of the day:

Wow. But Is the Number Real? 

February 3, 2012, 10:13 am

By FLOYD NORRIS

How many jobs did the American economy add in January?

 

The Labor Department estimated on Friday that the economy gained 243,000 jobs.

 

The department also estimated that the economy lost 2,689,000 jobs in the month.


The difference in the two numbers is in seasonal adjustment. Employment always falls in January, as temporary Christmas jobs end. So the government applies seasonal adjustment factors in an effort to discern the real trend of the economy apart from seasonal fluctuations. The actual survey showed the big loss in jobs. The seasonal adjustments produced the reported gain of 243,000 jobs.


A reason to doubt the number is that there has been a tendency in this cycle for the seasonal factors to overstate moves, in both directions. Labor mobility is down, as fewer workers quit to seek better jobs and employers both hire and fire fewer people than they used to do. If the seasonal adjustment was too large, then the gain should be smaller.

 

LOLstatistics Moment of the Day, sponsored by JP Morgan.

JP Morgan™ reminds everyone to eat their peas.

Fri, 02/03/2012 - 10:19 | 2122942 Captain Kink
Captain Kink's picture

Vaporized.

Fri, 02/03/2012 - 10:25 | 2122983 francis_sawyer
francis_sawyer's picture

"I'll grind ye bones to make my bread"

Fri, 02/03/2012 - 11:53 | 2123318 Jumbotron
Jumbotron's picture

Just a rumor but I heard that Soylent Green is people.

Fri, 02/03/2012 - 12:03 | 2123398 francis_sawyer
francis_sawyer's picture

More GREEN jobs then!

Fri, 02/03/2012 - 13:12 | 2123692 Jumbotron
Jumbotron's picture

LOL !

Fri, 02/03/2012 - 11:30 | 2123223 TradingSIZE
TradingSIZE's picture

Gov'ment Cheese for Everyone...

http://www.youtube.com/watch?v=8Sp-VFBbjpE

 

Fri, 02/03/2012 - 12:06 | 2123415 francis_sawyer
francis_sawyer's picture

One of Paul Krugman's trusted associates assured him that the moon is made out of government cheese...

That's why he believes so strongly in the "alien invasion" scenario...

Fri, 02/03/2012 - 09:54 | 2122779 Sandy15
Sandy15's picture

And this news will be heard NO where on MSM..............

Fri, 02/03/2012 - 10:07 | 2122871 pods
pods's picture

Can confirm this.  New jan employment numbers and rate left this little nugget out. Of course by mistake.

pods

Fri, 02/03/2012 - 09:53 | 2122781 PaperBear
PaperBear's picture

Gold/silver being whacked post-release of NFP - down to $1,745/oz and $33.69/oz - but now going back up.

Fri, 02/03/2012 - 10:16 | 2122918 victor82
victor82's picture

They all went to ZH to get this news and realized that once again, the BLS is the BS for a reason.

Suckers. I thought the Gold Traders weren't.

Fri, 02/03/2012 - 09:54 | 2122782 Lost Wages
Lost Wages's picture

Let's destroy work! Let's destroy the economy!

Fri, 02/03/2012 - 09:54 | 2122783 evolutionx
evolutionx's picture

The year of the world’s great geopolitical swing

Hoped for by some, dreaded by others, QE3 is generally presented as the ultimate weapon to save the US economy and financial system which, contrary to the dominating chatter of these last weeks, continues to deteriorate . Whether the FED launches out with QE3 or not, QE3 will be without any doubt the major financial event of 2012 whose consequences will mark the world financial and monetary system definitively.

And QE3 will play a determining role in the world’s great geopolitical swing in 2012 because this year will, in particular, see the last attempts of the world’s dominant powers of before-the-crisis to maintain their global power, whether it be in strategic, economic or financial matters. When we use the term “last” we want to stress that after 2012 their power will be weakened too much to still be able to claim maintaining this privileged situation.

 

More:

http://www.webcompact.net/index.php/news/9243-the-year-of-the-worlds-great-geopolitical-swing-

Fri, 02/03/2012 - 10:09 | 2122878 LawsofPhysics
LawsofPhysics's picture

LOL!  With ZIRP for ever and open swap windows, QE never stopped.  Thanks for the laugh.

Fri, 02/03/2012 - 09:54 | 2122784 docj
docj's picture

Ah, that pretty much explains everything.

Juice the number the sheeple and the media (BIRM) pay attention to. Bury the actual facts on a middle-back page, below the fold.

Bread, meet Circuses.

Oh, and BULLISH!

Fri, 02/03/2012 - 09:54 | 2122787 azzhatter
azzhatter's picture

That explain the UE rate but it still looks like a good number of new jobs on the surface. Now the quality of those jobs is another story.

Fri, 02/03/2012 - 09:57 | 2122813 docj
docj's picture

Exactly - what is the quality of a statistically-created fictional job, I wonder.

Fri, 02/03/2012 - 09:54 | 2122790 pepperspray
pepperspray's picture

Starbucks Frapaccino bottles break easily on impact

Fri, 02/03/2012 - 09:55 | 2122791 holdbuysell
holdbuysell's picture

Where's that deer in headlights pic? I'm having one of those moments.

Do NOT follow this link or you will be banned from the site!