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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
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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hahahaha , it will only be reported here, some extreme book cooking to win an election.
So new babies count as labor force. What is this, China?? I think you are misinterpreting the data here for the sake of argument. This is just the census adjustments is all.
new MillionDollarBonus_
Vote up! 1
Vote down! -10
The global recovery is back, and there's nothing doomer libertarians can do to stop it. Interest rates are low and economic growth remains steady, all of which bodes well for the Obama/Biden 2012 campaign. Libertarians have been DEAD WRONG about the economy, however much they lack maturity to admit it.
Thank you
...and no one sees through this?
All those unemployed, and those no longer receiving benefits are just going to sit and wait quietly until November?
You're assuming elections are under the control of We the People. Since when has voting at the federal level stopped fascism's forward march? Even if Obama loses, Romney will take his place on stage. The puppet strings remain the same.
hay man the superfool is on this weekend
doesnt a labor force of only 63.7% mean unemployment is actually 36.3%?
irregardless of whether you want a job, you need to have one(or a sugardaddy)
Irregardless isn't a word. It's either regardless or irrespective, but not both.
"Not both" is not a sentence either. Your last comma shouldn't be there. May we please stick to the issues and not beat each other up over grammar and spelling? If you want to fight, fight over the issues.
If the BLS can make up numbers than John Q. can make up words!
here's one... "bullishit" perfectly describes these BLS numbers and the market ramp jobs
not my creation so whomever it was can have the claim
I was politely busted on that word a couple of weeks back. I'm glad I was because now I have stricken it from my vocabulary. And technically it's a vocabulary issue and not a grammar issue.
I like to argue on issues, dis-irregardless of the grammar or spelling.
I'm forming a new political party... It's based on the principle of
Antidisirregardlessmentarianism
Anyone want to join?
Spelling can be important. Improper spelling can lead to misunderstandings, and heaven forbid that we should have misunderstandings on ZH. Consider these examples, which I have actually encountered in the past (not all on ZH):
Do you support world peace? How about whirled peas?
Or consider hair's breadth and hare's breath.
Or prime evil and primeval.
I personally tend to place less credence in the writings of those who can't spell properly, but I do try to make allowances for those whose primary language is probably not English.
My political party (above)... Supports a platform of WHIRRLED PEAS...
(PS... my all time favorite... Buffett, when he said assets would become WORTH LESS [which was interpreted as WORTHLESS])...
Gotta make the people desparate enough to beg for the next step (in control). Unemployment and inflation.
"Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism." - Ludwig Von Mises
Your enemy is the state - Stephan MolyneuxNo because you obviously didn't pass macro 101 because if you did you would know that gosh.
it's employed population divided by total population, i.e. including children and elderly. 63% is actually not that bad, internationally, but you have to be careful with the age cohort structure.
Brazil, at one point, had some 35% of the pop in their teens, now they joined the workforce
You are missing the point. Those 1.2 million people are assumed by the government to have left the workforce voluntarily because they didn't need or want to work, so they aren't counted as unemployed. Even if you take the 1.2 million at face value, the idea that some or many of those people don't need or want a job is ludicrous.
In other news, SSTF reports that it will go cash flow negative sooner than anticipated due to disability benefits being paid to 1.2M more people than expected in January.
Yeah and if we apply that participation drop to the NFP don't you get a minus 900K NFP?
I told you so.
Labor participation rate is quite lower. However, if they decide (NOT CALCULATE) to remove all unemployed from the labor participation rate, we could have 0% unemployment soon.
God, I feel like back in time, in Eastern Europe. All countries were fully employed.
The only thing left is which bunk you get in the FEMA camp.
Top or bottom.
In this market bottoming is all that's available
But but but if we include people that aren't working as unemployed, that might make people sad and we need HOPIUM!!!!!
LIES, BITCHZ!!!!!!!
2012 election campaign poster "HOPIUM"
http://obamiconme.pastemagazine.com/entries/1018978-hopium.html
Obamanomics, it gets results!
(I didn't say positive results!)
Thug-enomics.
Characterized by corporations hoarding cash, collecting lint on it out of fear of the thugs.
The goal is to be at <7.5% by election day. A 7.3 october print guarantees reelection. they dont care how many are removed from the labor force to 'fix' the denominator.
unemployment is what we say it is.
Get real. The number will look good but when everyone knows someone unemployed or off the rolls it will be time for Reagans Famous: "When you loose your job its called a depression" quote. Newt will be able to pull it off cleanly as he IS Ronald Reagan...
I'd like to think you are right, but I dunno, Willard Romney has the E-GOP in the bag and buttloads of cash (contributor & personal)...and if Ron goes rogue, we would be assured of being stuck with this POS another term.
On the positive side, another term of this crap and we'll be starting over from scratch anyway...
I had faith in Ron Paul until I found out he had made a Faustian Bargain with Mittens.
Ron Paul can't go rogue. It looks to me as if the Bushtards went to Paul and used his son against him the way Hyman Roth used Fredo against Michael Corleone in Godfather, Part II.
Now, who can you trust?
I'm down to Palin. She, I can trust. Maybe. At least all the right people hate her.
"The best way to control the opposition is to lead it ourselves."
When I see people mentioning other people like Newt and Palin however, I have to seriously ask the question: Do you even know who the opposition is? It isn't another candidate or party. You're looking at the situation from the wrong perspective. Lenin was of course right, but the two sides in competition right now are We the People and the fascist oligarchy! The puppets that the oligarchy select for us to vote on are meaningless when it comes to the march of fascism. When you control the entire political system of a nation state, it's awfully easy to control the "opposition." Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.
Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.
I've got news for you... You lost ALL your liberties back in 1913... You just aren't starting to realize that until now...
Until more people finally wake up and realize that truth, we are going to continue to lose our liberties.
I've got news for you... You lost ALL your liberties back in 1913... You just aren't starting to realize that until now...
DING DING DING DING !!!!
Give that man unlimted free copies of The Creature of Jekyll Island to give to all his friends and associates !
Although I agree that the early 1900s were a mess, this goes back much further than that as you both already know. It has been gradual of course, but you cannot ignore the results of the so-called Civil War and even the War of 1812 before it.
Oh, I'm aware of what you're stating in general, but I meant more specifically how the entire system is out of our control now as individuals. There's always more liberty to lose until you're lined up against a wall and shot too. Although the odds are heavily against us, we must still fight none the less. It is our duty to liberty itself and our children.
There's always more liberty to lose until you're lined up against a wall and shot too.
Even that is an illusion...
A prisoner... Locked in a solitary cell & bound, gagged, & shackled can still exercise his free will I suppose by pissing himself...
'Liberty' is only a concept... It's fucking against the law to even try & kill yourself in our FREE SOCIETY...
It should also be noted that my liberties are unalienable, and they cannot be "lost" simply because a law states it. My rights are natural and no government decree will ever change that fact.
Silver Dreamer, I am with Victor 82. Palin would be a good choice about now. She, like Paul, is not afraid to tell the truth and she stood up and defeated the good old boy Republican facisist in Alaska when governor. Unlike Paul, she also accomplished a few things in her brief political career. As for you, what do you mean Lenin was right? About what? His preferred system of government? I thought that collapsed with the Berlin Wall. Only your guy Obama still believes in that? If you are talking about Lenin's preverable rope he bought from the capitalist though you are right about that for that is what Goldman is all about.
What's with the Sliver Dreamer thing? Do you just dream about it while listening to the great employment statistics on NPR instead of Rush I bought mine already. Physical of course.
WTF
Lies, Damned Lies, and BLS Statistics.
I sincerely hope the American people don't elect that butt pirate again based on shit like this, but unfortunately, they probably will...
Hey, rocks...glass house...I dont know what country you are from but I dont see any leader doing the right thing.
Election? What are you talking about? Obama or Romney, like Bush or Kerry, it really doesn't matter. For what it might be worth, Obama has more political talent than Romney, and that by a wide margin.
I think they will dig into this very soon. Lets see if this is a sell the news item after the first hour. Not changing course at all.
I'm with you in spirit, but I've given up trying to guess WTF the market is going to do. Just sitting on the sidelines (mostly, other than some hemorraging March and April puts), holding dry powder, waiting, waiting...
At least they got on one thing right : douse the FIRE brigade and ramp up the jack with tool box trade of Joe the plumber.
nattering nabobs of negativism
If you can't create jobs just get rid of the unemployed- problem solved.
BTW- What exactly IS the definition of "seeking employment"?
This probably.
http://api.ning.com/files/TLGYlZPy3PxOYwD517DDL38Q5vsjxuqLtK-lkAxXqMuXlT...
The decline and fall of the US empire. So, so sad that the people in power can't be honest with their citizens and themselves.
So is anyone at fox news, msnbc, CNN, CNN headline news, cnbc, NBC, abc, CBS, PBS, Bloomberg, or elsewhere going to talk about this stunning revealing piece of news?? Any of these fuckers????
NO NOT ONE. MSM what a joke.
Absolutley, These Asshats are corrupt. They just want the illusion to keep going. It will be hard for them to not report something now that it is on DrudgeReport.
This is why the shift will not be gradual. Once the truth gets out, it will spread like wild fire. If Zerohedge keeps it up, the dollar might be rejected domestically before internationally.
Why would they? Can't control the people if you don't control the message.
Seriously, they need to learn a cue from Mr. Winston Wolf:
http://www.youtube.com/watch?v=fTN7Mhv59KA
It is not at all fair that so many of you attack our President, Congress, and the system when it is so obvious that it is all working so well. Why don't you just leave them alone and let them save us? Given the chance, BHO and the Blue/Red Congress will lead us into Paradise. They are SO wonderful. Please leave them alone.
I really cannot believe this shit they are pulling at the labor department.
1.2M
These people got some real balls.
I'm so confused. Are things getting better? Is the world still in the shitter? All this stuff is beyond my pay-grade. Well, at least my asshole still smells like roses. Not too many can claim that. Looks like I'm unique.
Whoops. Sorry for interrupting. When I saw you smelling your asshole, I thought for a minute you were my good friend Silver Dreamer. My apologies.
That was my first thought. Their strategy, I guess, is to tell lies that are so outrageous, people wouldn't think they'd have the balls to make up something that ridiculous and expect anyone to believe it, so, people believe it.
The crooks are dangling the carrot a little bit high this morning but I'm sure there are plenty of suckers that will find a way to jump high enough to grab some stocks lol. I bet most of this gets flushed by the close today.
http://confoundedinterest.wordpress.com/2012/02/03/unemployment-rate-drops-to-8-3-but-median-duration-of-unemployment-increases-to-21-1-weeks/
This was actually a BAD report since to many dropped out of the labor force, So, of course unemployment went down.
Steel production is up 50%, wheat is up 35%, workers are happier than ever and they all hail comrade stal, ops I mean Obama.
Seriously where did these people go? Are housewives that fashionable?
It doesn't matter who votes, it matters who counts the votes.
It doesn't matter who produces how much of what, or how many people are employed, it just matters who reports the statistics.
DON'T FALL FOR THE RALLY. I SEE FUTURES GOT COCAINED.
THIS IS THE BEGINNING OF THE FALL. NO NEW MONEY COMING TO STOCK MARKET. ALL OTHER STYLES OF MONEY PRINTING ARE AIMED AT BONDS, NOT STOCKS.
Seems like Goldman made the right call on the Russell 2000 long after all. But the catch 22 is if the economy is improving and their is "job growth" then Bernanke can't consider further easing which is not what the banking cartel wants so at some point in the very near future (i hope for my portfolio's sake) the market has to shake out
Is there a "black market ETF"? Anybody?
Vietnam? Warning: It's a deep rabbit hole, but I'm long "Dong work for Yuda".
But its all good news.
Europe is good Greece, Portugal, Italy, Hungery all doing fine.
ECB going to give banks 1 trillion euro+ at the end month.
Housing is fixed
Facebook IPO
You could go on.
The markets around the world just keep going up what difference between 2011 and 2012
Just no more bad news.
But its all good news.
Europe is good Greece, Portugal, Italy, Hungery all doing fine.
ECB going to give banks 1 trillion euro+ at the end month.
Housing is fixed
Facebook IPO
You could go on.
The markets around the world just keep going up what difference between 2011 and 2012
Just no more bad news.
Sometimes, all you can do is sit back and marvel and the degree of shameless bullshit this government pushes on the people.
Truly an astonishing sight to behold.
That 1M drop in the labor force is the Mexicans that left because things are now better in Mexico.
Too bad nobody on the Hill has the stones to cut the funding off to these asshats!
'If you can't make it, fake it'
Government stats credibility is on par if not below that of "championship Wrestling"...And they share the same audience.
Got it linked to Drudge......get the word out. This is a joke. The BLS will have us all dead soon.
I'm sorry, Tyler, but I'd much rather see more manufacturing and construction jobs on this side of the Pacific. We have enough FIRE jobs. Manufacturing jobs, such as they may be, are a sign of long term health, imho.
Of course, it depends on where the wealth created by the manufacturer is repatriated, but there you have it.
Under the "new normal" guidlines 1,200,000 jobs were just "created", Rockin good news. Who says government can't create jobs.
Speach, Speech
FIRE, what is it good for? Absolutely nothing.
Say it again...
hmmmmm...so lots dropped out, and lots found jobs...or someone made some typos?
Has anybody noticed that the EUR/USD has dropped over 120 pips since the NFP was released yet the /ES will not pull back?
Hey and American Airlines announced that 15,000 good paying jobs are going to be cut. "Obama Economic Policy: making the world a better place for you and me." I think I just invented his new campaign slogan.
Damn shame that the media will not report the truth any longer.
Less people working than 2000, but 30 million people added to population. Obviously there is an underclass that just may not work again.
The reality is 90% of yanks will read the unemployment headline number. They have no clue what "labor participation" is.
Thats it Lizzy...
All the masses want is a 2 minute news report - the end.
The doors of perception have not yet opened for the herd.
/sarc
My TV is for entertainment, so who has time for facts anyway? Tosh.0 is on!
/sarc off
This is absolutely worse than any print under Bush.
I mean how in the world do 1.2M people fall off the labor map. Moreover add all the drops in the last few months what a complete joke.
Every single day this month 10000s of jobs cuts announced.
EVERY SINGLE DAY.
THIS MATH IS BS.
Fuzzzy math GW Obummer
This is "Great News" for the US Dollar, it should rally like crazy and croak oil and gold... Lets see if the "market" goes for the numbers.
40 people layed off here last week. Morale is crippled, and things aren't looking good this year with inflation adding up to 40% (yes, 40%) in some areas of cost. Technological unemployment (software) is coming and that should shake another 100+. Soon I'll be brewing/farming/woodsplitting full time.
Good luck to all the invalids with no backup plan.
Obama said he will get unemployment under 8% by election. If he continues we could have an unemployment rate of 6% by November. A 100% he'll be elected at that point. Obama will use the BLS stats for his campaign.
The change has nothing to due with economics and just a change in counting dur. Read the damn report this is from page 7
Doesn't matter. The sheep are swallowing it hook line and sinker on the news forums. Obama creates 250k jobs and UE rate at 8.3%, suck it losers - I seriously just read that on a cnn forum...
Americans just can't come to grips with the fact that their government lies to them, especially in an election year.
"As for the quality of jobs", perhaps Obama listened to Milton Friedman's advice, so he replaced shovels for spoons, you know, for the jobs creation program. Genius!
Titanic Captain..."Yes, things look bad.....but pay attention to the violin players....not the water (debt) rushing in"
According to Newspeak, it's 'doubleplusgood' news!
There isn't anything anyone can say to make this look more ridiculous than it's face value. It is what it is folks. Welcome to the future. If they are cheating on the unemployment number, do you really think they aren't cheating on this number? You have to move away from government dependence in all aspects, including statistics, if you want the truth.
For those who want to see it with their own eyes, go to the BS website at www.bls.gov and download the pdf, then go to page 8.
There is also an interesting comment on page 6, as follows (as Tyler would say, no editorial comment necessary)
"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. Although the total unemployment rate was unaffected, the
labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage
point. This was because the population increase was primarily among persons 55 and older and, to a
lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force
participation than the general population."
Heh, great find Chindit13!
Santelli just cited ZH! Go Rick!
I never listen to Rush Limbaugh, but two days ago I had a long road trip. For the 5 minutes I could stand, he mentioned Zero Hedge as well!
What do ya have, little delicate ears sissy boy? You probably voted for little delicate sissy boy Obama, too, didn't you. Did you too go to Harvard like the Obama sissy boy Marxist or did you drop out of Missour State U like Rush? I am presuming something similar to the former. That O, he is soooo smart. While at Harvard did you study Saul Alinski, too? I am sure Rush appreciates you informing on him to TD like a good little minion while Rush broadasts the truth to millions every day for 20 plus years now while making billions from millions of common sense grounded loyal middle American listeners to help put fuel in his G5. So you take road trips do you? What did you do, go to New Jersey or Conneticut? Well at least you know how to drive. Maybe there is hope for ya.
lies works so much better than printing. but if you put the 2 together you get reseses pieces out the back of a unicorn.
Gotta love Santelli quoting this and Zh.
This report stinks!
Kudos to Santelli for giving props to ZH on that drop in participation. These f..king numbers are laughable. Keep it real Rick!
It will be interesting to see if that little piece of ZH history ever makes it to CNBS's video replay list. I bet it will be as if it never happened. I missed it so I hope I'm wrong.
I would like to see them report on another ''coincidence"; How there has been a 'miraculous' $5 increase in the spread between WTI and Brent. Was at $10...now at $15. More smoke and mirrors?
Someone buy Tyler a drink, Rick Santelli mentioned Zerohedge this morning. :)
Sounds like Santelli is going to find himself on the business end of the next BLS report if he keeps mentioning ZH on CNBC.
Canada's participation rate has stayed at 66.7% year over year vs US rate now at 63.7...you damn socialists..........
Obama obviously never ran track in high school. It's always a big mistake to peak too early. There will be no room to play with numbers by the time the autumn rolls around. Good luck with that.
NEVER HAD A JOB. NEVER HAD A LEMONAIDE STAND. WAS BORN TO A CIA AGENT WANNA BE AND HAS HAS A CHASRMED LIFE FRONTINGG FOR THE CIA AND ITS DRONE TAKEOVER OF THIS NOW BANANA SERFDOM...THE ONLY THING OBAMA RAN TO IN ANY SCHOOL WAS THE COKE DEALER
Obama did have one job... lawyer for Acorn who sued Illinois over ID requirement to vote.
Yeah, but, gee, he somehow no longer has a law license...
Yeah... But he has the power of handing out Presidential Pardons... That's why he'll win in November...
That PARDON list (by 2016) is going to be pretty long...
We can hope they have screwed the timing but this is all put together with WS, Fed and others coordination. A true black swan will need to arise in order to throw off the number manipulation prior to the election.
Census Bureau adjustment:
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. Although the total unemployment rate was unaffected, the labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage point. This was because the population increase was primarily among persons 55 and older and, to a lesser degree, persons 16 to 24 years of age. Both these age groups have lower levels of labor force participation than the general population. Data users are cautioned that these annual population adjustments affect the comparability of household data series over time. Table C shows the effect of the introduction of new population estimates on the comparison of selected labor force measures between December 2011 and January 2012. Additional information on the population adjustments and their effect on national labor force estimates is available at www.bls.gov/cps/cps12adj.pdf. Do I agree? No, but there is a reason for the hokey sticksarc/on: I believe in coincidence. sarc/off
A million people turned 55 last year. Bullish for health care stocks!
Rush mentioned ZH again ! He suggested BLS "BS" was highly likely on his Thursday program ! Monedas 2012 The Muslim Jewish Conflict is like a Tom 'n' Jerry Khartoon !
1.2 million people can now spend MORE time on FarceBook - BUY! BUY! BUY!
Tyler just got Drudged...
The masses are just happy Janet and Chrissy are friends again. Don't worry about it...
RIP Jack.
Looks like stocks and PM's aren't buying these phony BLS numbers !
How many charts have we seen this week in which a peak occurred around 2000?
Here's comes the recession, and as usual the fact that more people left the work force then entered it (700000 more people left the work force than entered it) is totally unreported. This is recessionary news, and it will probably show up in the BS BLS reports halfway into the year.
Unless it was a fluke...
Off topic, but here's a guaranteed 600 reply topic:
Anonymous hacks white supremacy groups; Ron Paul "linked" to American Third position & BNP (UK) ~ expect media blow-out.
http://pirasec.com/
Contains the 'smoking gun' emails ~
http://www.care2.com/causes/anonymous-hacks-neo-nazis-finds-ron-paul.html
http://motleynews.net/2012/02/02/anonymous-hacks-white-supremacy-site-ro...
http://newsone.com/nation/casey-gane-mccalla/anonymous-reveals-close-tie...
Boring and tedious... I don't see this "story" gaining much traction.
Ahh... but the meat is in the effort, of course.
Record 1.2 Million People Freed From Wage-Slavery... Most Want Their Chains Back
I wouldn't exactly call living in a shelter with no health insurance that great. Granted everyone's on the "make your own job" kick but that's essentially run your own business and the statistical success for that is what? Unless you are lucky enough to live with someone else that doesn't make you pay or you're willing to walk outside with a backpack and stay there and beg for living...........there's no getting by in this world without making money. If you like to eat you'll always be a slave in one way or another. This society requires it.
'I wouldn't exactly call living in a shelter with no health insurance that great.'
100 years ago nobody had health insurance. Why is it necessary for 'happiness' now?
100 years ago nobody had ANY healthcare to speak of, you could learn all they knew about health and biology/medicine in a few months. And when people did need a doctor he only charged what they could afford, there was no private for obscene profit insurance companies, no global "nonprofit" hospital corporations making billions per year, no repetitive diagnostic testing at hundreds or thousands a pop, no $23,000 per dose orphan drugs...
"Alexion Pharmaceutical's Soliris, at $409,500 a year, is the world's single most expensive drug. This monoclonal antibody drug treats a rare disorder in which the immune system destroys red blood cells at night. The disorder, paroxysymal nocturnal hemoglobinuria (PNH), hits 8,000 Americans. Last year Soliris sales were $295 million. Since Alexion started selling Soliris two years ago, its stock price is up 130%." http://www.forbes.com/2010/02/19/expensive-drugs-cost-business-healthcare-rare-diseases.html
We are lucky to live in an age where so much medical misery is a thing of the past, but the pricing of care is just not related to any real economic foundations, if we do not put a stop to this theft of capital by the industry it will kill the nation by 2020. We need to make a system that delivers care but where fictional pricing is no longer a part of it, first to go will have to be insurance, it adds no benefit to care and takes untold billions. They set prices and make policy and let us be frank, they are not doing a good job, in fact we would be better off if we had burglars just doing home invasions every night while we sleep.
I was born in 1958, a normal delivery with Mom staying in the hospital for 6 days, total billing under $400. People did not have to have insurance because they could afford the bills without it. Insurance has created a system whereby the public would be bankrupted by a simple infection, and many are bankrupted even with insurance just due to their copays and share of costs. You might not like Obamacare or universal care of any kind but get mentally prepared for it because it is in your future.
The govenrment will lie until reality asserts itself.
Food stamps and Tax reciepts will continue to tell the truth; the BLS can say whatever they want.
Liars, and manipulators will out themselves with time.
They had a stat out today that corporate profits are up ..but tax revenues are at a 12.1% rate..much lower.....something is up....
I told you guys this market is just hovering for good news, fabricated or not. Like it or not we just smashed threw a huge trendline. That's what they were wanting. If it holds and continues to hold above this coming monday there's a high probability this POS continues higher. The feds hire the best technical traders in the world. Pile of horseshit or not, it is what it is.
Like I also mentioned earlier........they'll have 50% of population in tent city with 5.4% unemployment @ DOW 36k. LOL.
Agree completely. Bernake is looking at the SP 500 right now and saying "Scoreboard"
Oh yeah? Well I am looking at oil today and other non-PM commodities and it is telling me WE lose.
You beat me to it Razor, first thing I did was shoot a look at oil and other fuels and low there is gasoline at $2.9127 up 4.3 cents just on this news, meaning it will by $4.10 at the pump by the end of the month and that will kill any partying spirit engendered by this bogus employment report because people will realize they need TWO jobs to get by.
They lie because it works. If 50% of the population starts living in tents, the people might stop believing the lies. I won't get my hopes up though.
Don't get me wrong, im just refering to the technical perspective of the S&P, nothing else. Eventually all the stuff makes a difference but when? It is all ridiculous, yes things are fradulently better so now we need higher gas prices because more people are working(not). The BLS should be renamed to BFS.
This market is ripe for a fukking crash.
The labor force did shrink. 1.5 million Americans in the labor force just moved overseas.
Is anybody else having a problem with the site or is it just my computer?
Drudge Report is linking here.
ALSO, there is a bad script somewhere (probably an ad) that keeps crashing my browser (Firefox 4.0.1) for several days now. I have to turn scripts off to visit Zerohedge.