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The US Labor Market Is In A Full-Blown Depression

Tyler Durden's picture




 

Now that stocks are back to reflecting nothing more than expectations of how many times the Chairsatan dilutes the existing monetary base in a carbon copy replica of not only 2011 but also 2010... and 2009 (because contrary to what purists may believe, the only way to inflate away unsustainable debt in a growth-free economy is by destroying the currency), and manic pattern chasers have crawled out of their holes proclaiming the death of the bear market after a two day bounce, what is happening in the actual economy, no longer reflected by the market, has once again been pulled back to the backburner. Which is sad, because while ever fewer people reap the benefits of artificial, centrally-planned S&P rallies, the rest of the population suffers, and what is worse: hope for a quiet, middle-class life is now an endangered species. Nowhere is this more evident than in the following list from David Rosenberg which summarizes how, quietly, the US labor force slipped back into a full-blown depression.

From David Rosenberg:

One Sick Labor Market

There were so many disturbing elements to the May jobs data that we're not sure we can do justice to the litany of disappointments (with some help from our friends at the Investor's Business Daily):

  • The share of long-term unemployment is at its highest level since the Great Depression (42%).
  • Fully 54% of college degree graduates under the age of 25 are either unemployed or underemployed.
  • 45 million Americans are on food stamps — one in seven residents.
  • 47% of Americans are on some form of government assistance.
  • The employment-to-population ratio for 25-54 year olds is now 75.7%, lower than it was when the recession supposedly ended in June 2009.
  • The number of people not in the labour force has swelled eight million since the recession ended; absent that effect, the unemployment rate would be 12% right now (about the same as President Obama's election chances would be).
  • The number of people confident enough to leave their jobs fell 11% in May
    for the second month in a row to 891k, the lowest since November 2010.
  • The ranks of the unemployed who have been looking fruitlessly for work for at least 27 weeks jumped 310k in May, the sharpest increase since May 2011.
  • The unemployment rate for males aged 16-19 is 27% and for males between 20 and 24 it is 13%. Draw your own conclusions from a social (in)stability standpoint.
  • One in seven Americans are either unemployed or underemployed.
  • Only one in six of the youth are working full-time and three-in-five are living with their folks or another relative (as per the NYT).
  • A mere 16% of the 2009-2011 graduating class has found full-time work, while 22% are working part-time. Even those hired from 2006-08, just 23% are working full-time.
  • According to a poll cited in the NYT, just 14% of high-school grads today believe they will have a more successful financial future than their parents Line of the day, as depressing as it is, comes from an 18-year old: "Thank God I had a buddy at Burger King who could help me out". Fast-food has emerged as the fast-growing industry in a country once led by technology. Even tech now is fuelled more by companies that produce nifty consumer gadgets and feed our narcissistic needs than those who focus on improving the nation's capital stock which is the ultimate trailblazer for productivity growth and durable gains in our standard-of-living.
 

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Wed, 06/06/2012 - 16:27 | 2500796 yabyum
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The middle class is doomed, but do not worry! the bankers and 1% and bankers will do just fine.

Wed, 06/06/2012 - 16:29 | 2500808 AnAnonymous
AnAnonymous's picture

Not enough resources to sustain US citizen middle class life style...

Wed, 06/06/2012 - 16:33 | 2500834 Dr. Richard Head
Dr. Richard Head's picture

Sure there is.....with $3,000 thingamjig checks coming middle class life will be just fine.  /sarc

Wed, 06/06/2012 - 16:50 | 2500890 MillionDollarBonus_
MillionDollarBonus_'s picture

 

I can’t help but notice that President Obama has failed to produce a SINGLE JOBS BILL SINCE 2007!! Is anyone else puzzled at this? Is it me, or is Obama just ABANDONING the economy!? Frankly, I’ve had it. My equity portfolio has underperformed, my alpha is in the red, and my expectations for Obama’s first term have been shattered. If we want to see change in America, we need a new leader. Someone who can straighten out the economy and create jobs. And after careful consideration, I believe that person is Mitt Romney. Vote for real change in 2012: vote Mitt Romney for President.

 

Wed, 06/06/2012 - 16:51 | 2500907 Paul Atreides
Paul Atreides's picture

How's that Facebook stock you bought been doing lately MDB?

Wed, 06/06/2012 - 17:30 | 2501106 Financial_Guard...
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Do not feed the trolls!

Wed, 06/06/2012 - 17:40 | 2501151 Mitzibitzi
Mitzibitzi's picture

You don't need to, they're on food stamps!

Wed, 06/06/2012 - 17:53 | 2501194 DaveyJones
DaveyJones's picture

"The market's in Bernanke's hands" - MSNBC 6/6/12

...the poor bastard

Wed, 06/06/2012 - 18:01 | 2501217 Not For Reuse
Not For Reuse's picture

> "Fully 54% of college degree graduates under the age of 25 are either unemployed or underemployed."

This is because 100% of college degree graduates under the age of 25 DESERVE to work only in the top 1% most personally fulfilling & lucrative jobs available for college degree graduates. Who wants to piss away their time on imperfection?

Wed, 06/06/2012 - 18:41 | 2501296 Caviar Emptor
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The Facebook debacle is emblematic of all that's wrong. The model for success was : Facebook users buy stock. Then the more they click, post stupid pictures and silly comments the more their stock would rise! 

It was supposed to be a perpetual motion machine where people get rich from the couch, where clicking is as good as producing once was. 

Too bad, it was a beautiful American dream. 

Wed, 06/06/2012 - 19:34 | 2501366 Bananamerican
Bananamerican's picture

"after careful consideration, I believe that person is Mitt Romney. Vote for real change in 2012: vote Mitt Romney for President"

well, I LOLLed...but then i'm intelligent. (hat's off MDB)

I pointed out the same thing yesterday when someone (weird Freddie) implied that REAL Republicans (not RINO's) were the country's only salvation...The Right wing's version of "Unicorns"...

I'd say the ratio of delusional Right Wingers to delusional Lefties runs 3 to 1 on this blog.........both outnumbered by those in that place apart....why not aim for the center boys?.....the lonely sensible CENTER

Wed, 06/06/2012 - 22:55 | 2502032 Freddie
Freddie's picture

You left out the part when I mentioned Rand and Ron Paul.  Name the Democrats versions of Rand and Ron Paul....and no I don't like Romney and RINOs.  I like real conservatives not fake GOP party hacks.

Still stung by the union loss in Wisconsin last night?  The shit really fell apart when the Dems/Cong Black Caucus in 2006 were defending Fannie & Freddie. Not to mention the  muslim's CRA lawsuits to give mortgages to anyone and everyone.   Maxine Waters calling any oversight of Fannie and Freddie was rascism.

Good luck with the reboot Demtards. I will laugh when they come for your 5 gold coins and 10 silver dimes.   The only center you better figure out is center mass - dumbass. 

Hope and Chains.

Tyleys - give us more Snorg Tees and less Hope & Chains banner ads.

Thu, 06/07/2012 - 00:08 | 2502191 Bananamerican
Bananamerican's picture

Ron Paul (who I supported) has about as much to do with "REAL republicans" as this site does with the MSM...

you are a partisan "REPtard" fool Freddie

Thu, 06/07/2012 - 00:43 | 2502290 The Monkey
The Monkey's picture

Ron Paul.  The last statesman.

Thu, 06/07/2012 - 02:59 | 2502508 Seer
Seer's picture

Hey, you diss-ing Fruitless Freddie?

Wed, 06/06/2012 - 23:07 | 2502072 Tapeworm
Tapeworm's picture

JUST how do you fit in the center between Obama and Romney? I can't seem to be able to slide a dime in between their "positions".

http://www.acting-man.com/?p=17322

http://www.youtube.com/watch?v=IWDJEc92d38&feature=player_embedded

Wed, 06/06/2012 - 23:28 | 2502106 smb12321
smb12321's picture

I'm not going to watch a You Tube video for my politial decisions.   Of course there is huge difference between BO and Mitt, the biggest been executive experience.  (And I was a Paul supporter.)  Obama has shown himself devoid of ANY executive skills whether it's delegating, prioritizing, planning, establishing effective programs or primarily, management.  He's disdainful of Congress, private business and anyone who happens to disagree with him.

No, Mitt is not a "conservative" but I have to hope he will restore what we need most in this country - confidence.  It's the uncertainty of what thei admin will do next that harms the economy the most.

Thu, 06/07/2012 - 03:49 | 2502559 Gavrikon
Gavrikon's picture

I'm willing to bet that most of those thumbs down are from conservatives/libertarians.  Yes, Obama sux the big one.  And most of see nothing that Romney is going to do to fix the situation.

The only possible advantage to Mitt IMHO, is that he is not an anti-white racist, and the race-baiting Holder will be gone.

Thu, 06/07/2012 - 09:03 | 2503087 Chuck Walla
Chuck Walla's picture

Obama has shown himself devoid of ANY executive skills whether it's delegating, prioritizing, planning, establishing effective programs or primarily, management. 

 

Well, Duh!  He would have had to actually run something besides a class room to know anything past how to steal public money per his Patron, Tony (Real Estate Fairy) Rezko.  The man has never held a real job in his life.  There is just his fan club fellating him to excess with his own jet and perpetual tee times.  I'm sure he uses a quart of sanitizer if he even feels a plebe breathe on him.

 

 Oh, why are people so stupid as to not just let him rule without their being allowed to gaze upon his magnificence?

Thu, 06/07/2012 - 00:13 | 2502205 Bananamerican
Bananamerican's picture

you don't understand what -i- mean by "Center" Tapeworm...because you're shallow....

You think "Centrist" doncha, bonehead. Admit it.

Nuance flies right over your head just like the embarrasingly large number of ZHers who downvote MDB.

After TEN THOUSAND posts explaining MDB is a satirist, a "spoof", there are still DOZENS who downvote the "Troll"...

It's fucking embarrasing

Thu, 06/07/2012 - 03:03 | 2502515 Seer
Thu, 06/07/2012 - 01:28 | 2502376 Joseph Jones
Joseph Jones's picture

Yeah, I just can't wait for member of the most caustic form of ultra-right wing Judaism known as Chad Lubavitch, dual-Israeli citizen, maker of multiple millions selling his ex-subordinates at the TSA his carcinogenic generating airport scanners, Michael Chertoff (Romney's Chief foreign relations advisor and likely Sec. of State) to whisper into Pres. Mitt Romney's ear to start WW3 nuking more brown skinned people......Joseph Smith was kicked out of the Freemasons (a branch of Kabala Judaism) then he started the LDS...LDS believe the USA's sworn duty is to protect Israel from every threat...LDS strongly believe in Israel's so-called "right to exist" (as if God Himself signed the protection order and the title to that land over to the Rabbis....hey!  I missed the part about the Knesset and the Prime Minister in the O.T.)

(sarc off)

 

Thu, 06/07/2012 - 04:34 | 2502589 Element
Element's picture

Dude, the 'Morman' Latter Day Saints literally believe that a bunch of Jews came over to the Americas in a boat at the time of the Jew-captivity, set up a gigantic civilisation for a thousand years or so, and that the USA is basically a former homeland for God's and Jesus's most favourite 'good' Jews ... and that the "New Jerusalem" will arise, in of all places, Kansas! ... and no, I'm not drunk or taking acid, ... nor am I joking. 

This is in fact what the 'LDS' or mormans hold to be the absolute literal 'truth'.

So yeah, the Joos will love mittens.

Thu, 06/07/2012 - 07:39 | 2502796 Watauga
Watauga's picture

JJ--Pls stop with the "nuke more brown skinned people" bullshit.  What is that, anyway?  You may want to think our wars are about race, but you would be wrong.  Our wars are about money and our way of life (which is mostly about power and money).  Our govt will kill and steal from any race or ethnicity.  At the moment, it is engaged in killing fellow Caucasians in Afghanistan, Iraq, Yemen, and other Middle Eastern nations.  Our govt has been most efficient at killing fellow Caucasians for over 200 years (though the slaughtering of the American Indian must be included as the single most effective effort yet).  From the Revolution through 1812 through Lincoln's War through a range of wars with Spain/Mexico/South American nations through WWI and WWII, this nation's wars were all about killing fellow European-bases peoples.  In Korea, Vietnam, and, of course the Pacific War against Japan, the U.S. was relatively effective at killing Asians.  But never in our history have we wanted or needed to kill large numbers of "brown-skinned" people.  Even if you include the Mexican War and some of the South American ventures as killing "brown-skinned" people, the numbers are a drop in the bucket overflowing with the bodies of fellow Caucasians. 

Stop the bullshit lie about killing "brown-skinned" people, whatever that means.  War is about money and power, and our govt does not care the color of the skin that stands between it and its power and money. 

Finally, I am not judging the reason for our wars. 

Thu, 06/07/2012 - 07:11 | 2502703 johnQpublic
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i felt the same way about the two final contestants on american idol

so similar, yet so different

so i threw a hammer thru my tv so i didnt have to see either one of them

Thu, 06/07/2012 - 09:17 | 2503155 tarsubil
tarsubil's picture

Their positions are totally different. One is a pitcher and one is a catcher. They clearly aren't enjoying it that much. Mitt wouldn't even give BO a reach around.

Wed, 06/06/2012 - 18:47 | 2501300 Quisat_Sadarak
Quisat_Sadarak's picture

Exactly right Not4Reuse.

If people really wanted to earn money they could take whatever job they can get and earn something while waiting for the next better job. Thomas Sowell had a nice column about this subject: here

Many people today have the "it's beneath me to do that" or "not enough $$$ to do that" attitude and that is a big part of the problem. Don't get me wrong. I am *not* blaming the victim here. The TPTB for decades have just about succeeded in killing the golden-egg-laying-goose-that-is-the-USA-economy. But I am just saying that there is work out there if you really want it.

Wed, 06/06/2012 - 20:40 | 2501643 mjk0259
mjk0259's picture

Pretty much the only job many people can get is selling bullshit on commission doing cold calls. The employer figuring the sucker's relatives will buy some. This is not worth doing unless you hate your relatives. What else can you do ? Landscaping? Drywall? Painting? Got $10/day Mexicans for that living 20 to a small house. Minimum wage store and restaurant jobs? Many of them hire for like 11 to 1 3 days a weeks - doesn't even pay for driving back and forth for most people.

 

Wed, 06/06/2012 - 21:44 | 2501864 ChrisFromMorningside
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This is what happens when you put up incredibly high barriers to entry in just about every industry, it chokes off any entrepeneurial initiative. With so many educated people out of work and with commercial real estate in the dumpster, there should be an entrepeneurial boom going on right now re-inventing the US economy. That is not going to happen in a society where you need a PhD to navigate the tax code and where the local kleptocrats have near-infinite regulatory authority over whatever you do. Didn't the Obama administration try (but I think they backed off) to make it illegal for children to perform any kind of labor on their own family's farm unless they're treated like a formal employee with all of the accompanying paperwork that goes with that? Absurd. And yet we wonder why young people are vegetating on the couch instead of hustling to make ends meet?

With that being said, I will not "leave the kids alone." I am not just familiar with the demographic, I am a part of it (being in my mid-20s myself). There are *very* deep cultural problems with *many* of my generational peers (not all, but probably a majority). I'm not even referring to the "I deserve to be payed $80,000 because I'm so special" sense of entitlement. Reality will take care of that delusion.

Far more disturbing to me is the fact that so many people in my generation seem incapable of genuine emotion or feeling. It seems like all communication for Gen-Y/Millenials is rooted in irony, sarcasm, insincerity, cynicism, emotional detachment, etc. Expressing a sincere, passionate belief in something, and it can be just about anything, is looked down upon. Then there are the people who numb themselves with reality TV and absurd over-the-top consumption. To me it seems like a key piece of humanity is missing from these people but then again I could be the oddball I guess.

Not to mention gender relations are completely broken. People talk about "hook up culture" and the death of marriage. Pfft, as if that's new or interesting. I was reading about the new book 'The Demise of Guys' which is getting a lot of press. Part of it is about the lack of ambition and initiative among younger men, who are wasting time watching porn or playing video games. I think most of the book is bullshit but it comes close to the truth ... There are a whole lot of men who are "dropping out" of the mainstream Western society. I think it has to do with the disjunct between being economically or socially productive and getting sex. Quite simply, being economically or socially productive is not a path to gaining access to women in a society that valorizes gangbangers and robber barons. So men who are predispositioned or capable of being economically or socially productive are basically like "why bother?" if working your ass off will only lead to being a corporate drone under someone else's thumb. And thus our society goes deeper into a vicious cycle of wealth destruction ...

Wed, 06/06/2012 - 22:02 | 2501893 Almost Solvent
Almost Solvent's picture

The adderall generation is coming on line . . . 

Wed, 06/06/2012 - 23:53 | 2502150 Questan1913
Questan1913's picture

ChrisFromMorningside

There is much truth and an amazing amount of wisdom in this young mans observations and comment.   

 If he and and others of his generation  had been exposed to F A. Hayeks book "The Road to Serfdom" they would understand that they are victims of a Socialist/CronyCapitalist/Facist political and economic system which has been metastisizing for the past 70 years, at least, in the US.   It is surely difficult to clearly discern who the enemy is because there is a lot of puposeful extraneous "noise" built into the sytem to mask the process and the perpetrators.  That noise consists of constantly beaten war drums, the scaryfying enemy of the month, the other distracting induced tensions surounding white/black, gay/hetero, male/female relations, and on and on."The Road to Serfdom" lays out in incredible detail the political system and process that has lead us all to where we are socially and economically today.  We are all victims of it.   I am old, but it is heartbreaking to see what his generation are going through.  His comments on gender relations and the pervasive studied superficiality he encounters are spot on.  Those are the consequential behaviors one would expect to have been induced by this culture.  As far as women are concerned, men have been supplanted by the State or "Big Husband"  These young guys have been emasculated, economically and financially; that is why gender relations are broken.  I don't think that our society has experienced wealth destruction, it's just that the distribution of wealth has been skewed to the criminal swindle class.  If one wants to be enlightened and watch a movie at the same time I would suggest "1984" with Edmund O'Brien.  It plays nightly, for free on youtube and while not as good as the book I think you will be amazed at how well that movie predicted where we are and unfortunately if the trend continues, where our final destination might be.  It  was made in the mid sixties.   

Thu, 06/07/2012 - 00:20 | 2502228 WaterWings
WaterWings's picture

Though abrasive to some...

Single Dude Travel

For the...ahem...elite single-servers...

Thu, 06/07/2012 - 00:34 | 2502264 Cathartes Aura
Cathartes Aura's picture

clever.

Thu, 06/07/2012 - 01:05 | 2502324 Cathartes Aura
Cathartes Aura's picture

very thoughtful post, ChrisFromMorningside, particularly the paragraph related to a "lack of genuine emotion or feeling" - which is a sociopath trait, yes?  I wonder how much of this is down to being medicated the moment even slightest "anxiety" or "depression" is felt. . . not to mention that if one wants to be seen as truly competitive, one never tips their emotional "hand" in company.

your thoughts on deteriorating "gender relations" and the resultant lack of ambition in younger men. . . watching porn and playing video games is for the most part "guy stuff" - in that most porn & online gaming is heavily skewed to younger men/boys - they're socialised conversationally to chat and be with each other (gaming stats, and porn memes), which makes them seem "immature" to many young women, socially awkward and lacking in conversation skills - but they get on fine within their boys-club. . . so they're perhaps "dropping out" of "competing" for "sexual favours" - ?

Quite simply, being economically or socially productive is not a path to gaining access to women in a society that valorizes gangbangers and robber barons.

not so onboard with this point - "access to women" who like a "gangbanger" type?  or a woman who just wants wealth?  those types exist, sure, but I'm not seeing this as a huge percentage of women, more like an aspirational woman who wants to be an arm ornament, and targets the man who has everything but (the trophy wife archetype).

you say you're in your mid-20's - there are large numbers of young females who are working in various careers that don't include "financial services" on their resumes, nor "dancer" etc. - the lament I most often hear is that young men in their age group are more content to hang with their group of dude-pals than work towards any life goals, and this doesn't include just the "money" angle - over half the relationships in my wider circle of acquaintances are women working full time supporting the stay at home partner (with or without kids) who is working something "creative" or lesser paying, non corporate, freelance.

I guess it just comes down to whether the young guys want to be in relationships with women, or if they're content to be hanging with their bros. . .if it's just hitting on women for sex, then I can assure you, most women with self respect can see that one a mile away, and swerve/accelerate accordingly.  and if the dudes just want a quickie so as not to waste time away from their pals, well that's what pay-to-play was invented for - it's not a relationship, it's a financial trade for sexual access - the primary relationship being with their pals. . .

well reasoned post though. take care!

 

Thu, 06/07/2012 - 10:41 | 2503669 Almost Solvent
Almost Solvent's picture

It strikes me as the nature v. nurture argument as to why these folks under 30 are so jaded and disconnected.

What they see and hear has alot to do with that, but I put alot of stock into the drugs this generation had shoved down their throats, many times as young as 6 or 7, such as adderall, welbutrin, ritilin, etc.

 

The pharmas are just as much to blame as society in my opinion.

Thu, 06/07/2012 - 15:47 | 2505107 Cathartes Aura
Cathartes Aura's picture

pharma is big business, some of it "subsidised" by the state, but all of it is a maintenance of "culture" - in that so many people are on mood 'n' mind altering drugs so as to continue the treadmill without question, minds numbed and dumbed.

it's a sad state to observe.

Thu, 06/07/2012 - 03:22 | 2502539 StychoKiller
StychoKiller's picture

It's called "Moral Hazard", because it leads to the death of everyone's morals.

Thu, 06/07/2012 - 03:29 | 2502546 Seer
Seer's picture

"there should be an entrepeneurial boom going on right now re-inventing the US economy."

I suppose that if you view this outside the context of the physical world it makes perfect sense.  But, we live in a physical world.

We're at the end of the road.  Our "technology," which is packaged along with the propaganda that one can get ahead by "working harder," has painted us into a corner.  We're now relying more and more on rarer and rarer physical resources (rare earth metals; declining fossil fuels).

But I digress...  Yes, there IS a re-invention going on, it's just that most people, those stuck in the mindset that we'll see another up-swing in this "cycle," are unable to see it.  The [current] System is shedding people, and people are voluntarily leaving it.  That it doesn't show on the monitored "economic system" doesn't mean that it's not happening, it's just that it cannot be measured (either because it's too nebulous, or because The System cannot acknowledge it lest it erode its power/control).

Fri, 06/08/2012 - 23:23 | 2509560 MeelionDollerBogus
MeelionDollerBogus's picture

Rare earth metals aren't that rare.

Silver's rarity need worry no one if we displace all electric uses of it with graphene.

Composing instead of landfill, thermal depolymerization to turn garbage into oil and we'll have enough fuels and clean land to live on and grow for a while.

We just need to watch out for massive removal of oxygen from the oceans and massive greenhouse effects and of course, the nuclear poison from common uranium/plutonium reactors that no one ever needed because Thorium was always much safer & much more efficient.

Fri, 06/08/2012 - 23:21 | 2509556 MeelionDollerBogus
MeelionDollerBogus's picture

Yup. Those with smarts will turn to farming, guerilla gardening and meth labs to make money behind the back of Uncle Sam the traitor

Wed, 06/06/2012 - 18:46 | 2501306 ebworthen
ebworthen's picture

Everyone knows this is a circle-jerk economy.

"A chicken in every pot" is now "Choke your chicken in a pot".

Fight club rules.  Do not order the cream of mushroom soup.

Wed, 06/06/2012 - 18:50 | 2501316 Quisat_Sadarak
Quisat_Sadarak's picture

Hmmm. Chicken is for the 1%.

Pink Slime in every pot.

Wed, 06/06/2012 - 19:18 | 2501399 potlatch
potlatch's picture

as someone familiar with the demographic, I can only say, the problem you speak of would only apply to the children of teh wealthy.

 

Most non-vampired young people, just are flat out gobsmacked.  They knew they were going to have to start at the bottom, but they did not know, there is no bottom to start at, and they will have to much rather, re-invent a civil industrialized society.  I would be knocked on my ass too.

 

If these kids leave the basements and become zombies, well, then call me.  Until then, leave the kids alone: they did not ask for this nonsense and theft of economy.

 

Because that is what has happened.  The US was Bain'ed.

Wed, 06/06/2012 - 20:19 | 2501575 HK
HK's picture

You're right potlatch, kids now a days don't have a chance.  Our 4 year old granddaughter lives with us as our daughter works and goes to school. I pick her up from preschool each day and we have dinner together.  I make sure she knows how to plant, transplant, harvest and grow her own, knows that Mickey D's is bad, understands which garbage goes into the compost pile, has her own magnifying glass to look through the bags of half dollars for silver.  It's my responsibility to set the table and teach her, the system will only mislead her. 

But you know, we all have a responsibility, as members of the fight club, to make a difference.  Not sure how we sign up for this one, but I'll post it anyway, as we need to keep chipping away at the foundation in order to make a new house. Anonymous with references to the fight club:

http://www.rt.com/news/anonymous-leaks-fight-club-057/

 

Wed, 06/06/2012 - 21:53 | 2501877 Cathartes Aura
Cathartes Aura's picture

consider homeschooling your granddaughter, because "peer pressure" is the great undermining of individual thinking, particularly for girls in this so called culture - I can recommend the first book listed, as used by friends, the second is for younger folks, also an amazon book link, just shortened to "tiny url" -

http://www.amazon.com/The-Teenage-Liberation-Handbook-Education/dp/09629...

http://tinyurl.com/7w3sgss

let kids learn at a pace that encourages curiosity about "things" - and let them find their own subjects that interest them, at least initially.

Wed, 06/06/2012 - 23:46 | 2502129 reader2010
reader2010's picture

My question is whether or not home-schooling can prevent kids from spinning their hamster wheels later in life? 

Thu, 06/07/2012 - 00:38 | 2502271 Cathartes Aura
Cathartes Aura's picture

if you believe that distancing a young person from cultural conditioning, and encouraging them to be curious about how the world works, and what part they might like to play in it as they get older. . .

then I would say "yes" -  given that skool is all about bells, being in one's seat prior to the bell, daily, set hours, routine, obedience, and peer pressure, it's really just training in how to be a good workerbee - oh, and the daily allegiance pledge, can't forget that. . .

Thu, 06/07/2012 - 02:39 | 2502487 piceridu
piceridu's picture

+++ 12... years of compulsory schooling

Thu, 06/07/2012 - 00:38 | 2502276 in4mayshun
in4mayshun's picture

Oh my god HK, you're raising your daughter to be a terrorist. Gardening and silver investing...I may have to report this to the FBI.

Thu, 06/07/2012 - 00:58 | 2502321 prodigious_idea
prodigious_idea's picture

Great strategy on the grand child.  And good on you!  Nobody ever talked with me about this stuff. My dad was always climbing up (and down) the corporate ladder. I have to admit that I did too. But I learned about tools and building things on my own.  I'm the odd executive that can rebuild an engine and operate a 30 ton crane.  Makes for a strange CV.  But I awoke to PM, even if it's late in the game.  So I took my 18 year old daughter with me to buy silver last week.  We talked at length.  I later heard from my wife that my daughter really enjoyed it.  I tried to be fair and balanced in our discussion of PMs, although I'm sure my bias leaked into the conversation.  I told her after we left that I'd match her silver purchases.  She was jacked at the idea.  Then I got to thinking about her boyfriend (they live together) and decided I needed to help "them" so I made almost the same offer.  He might end up in the family anyway so I might as well drag the poor kid along.  Of course I will hold their silver for fear they might fall victim to I-gotta-have-that-itus.  It seems a small price to pay for education and maybe they will pay-it-forward someday.  How many generations will it take to right this listing vessel?

Fri, 06/08/2012 - 22:45 | 2509514 MeelionDollerBogus
MeelionDollerBogus's picture

How long did it take to right the Titanic?

Thu, 06/07/2012 - 02:05 | 2502446 Don Keot
Don Keot's picture

HK, that is where it all starts, producing something of value from a natural resource.  If you don't produce, you are an expense.

Thu, 06/07/2012 - 03:42 | 2502554 Seer
Seer's picture

Good to see increasing awareness that natural resources are essential (why many don't get this is beyond comprehension).  But... it's not necessary for everyone to be "producing something of value from a natural resource."  Think "care-givers."  It all comes down to what we feel has value.  Sadly, our "values" have become so distorted (thanks to folks like Edward Bernays) that we no longer know "up" from "down."  Rather than figuring out for ourselves, following along the lines of the discussion on education), we've been told what has value (always by those who profit from doing so).

Thu, 06/07/2012 - 00:43 | 2502289 Nage42
Nage42's picture

Or.... they could go to another country, pay less than 12% income tax, work their damn asses off, and take a leadership role in places that do have opportunities but lack individuals with drive/responsibility

/shrug... it's what I did.

 

Wed, 06/06/2012 - 19:29 | 2501434 potlatch
potlatch's picture

well, tell him we can all smell it, and to go wash his hands

Wed, 06/06/2012 - 19:14 | 2501382 potlatch
potlatch's picture

troll feeding is the way message boards debase their currency; threads get too long ;)

Wed, 06/06/2012 - 16:53 | 2500927 Westcoastliberal
Westcoastliberal's picture

Sorry I was delayed in responding....had to puke.

Truth is, we really have no candidate in the upcoming election.  I'm registered DEM but wrote in Ron Paul anyway.  He's the closest thing we have to a real person running for Pres.

Wed, 06/06/2012 - 17:04 | 2500972 MillionDollarBonus_
MillionDollarBonus_'s picture

And it's not like I've always agreed with everything President Obama said ... I've had my disagreements. For example, in 2007 Obama was against "the surge" in Iraq, which I strongly supported. The surge, not to my surprise turned out to be a SHINING SUCCESS, just as General Petraeus and other military experts had predicted.

Wed, 06/06/2012 - 17:05 | 2500990 Westcoastliberal
Westcoastliberal's picture

Oh sure it was a GIANT success, just as the entire war was. And the BEST thing of all....it didn't cost us a DIME!  We paid for it from those Iraqi oil revenues, just as Wolfowitz promised!

Excuse me, gotta puke again...

Wed, 06/06/2012 - 17:18 | 2501053 derek_vineyard
derek_vineyard's picture

mdb for prez

Wed, 06/06/2012 - 17:22 | 2501073 rqb1
rqb1's picture

mdb, you can do better than this.

Wed, 06/06/2012 - 17:48 | 2501182 Greater Fool
Greater Fool's picture

Agree--this is fourth-rate trolling at best.

Wed, 06/06/2012 - 18:17 | 2501248 ClassicalLib17
ClassicalLib17's picture

I liked MDB's first comment.  Awhile back,  I suggested that he only post one comment per thread,  as his first is usually his best.  Otherwise, it's all down hill from there.

Wed, 06/06/2012 - 19:30 | 2501439 potlatch
potlatch's picture

third rate, totally third rate, has-been, a total washup

Thu, 06/07/2012 - 01:07 | 2502340 prodigious_idea
prodigious_idea's picture

I just realized why MDB isn't convincing with his "logic".  He doesn't use enough CAPS and BOLD PRINT.

Wed, 06/06/2012 - 17:53 | 2501191 Pegasus Muse
Pegasus Muse's picture

Assassins-in-Chief.  War Criminals.  

Engelhardt asks.  You decide.  

------------

Praying at the Church of St. Drone

Be assured of one thing: whichever candidate you choose at the polls in November, you aren’t just electing a president of the United States; you are also electing an assassin-in-chief.  The last two presidents may not have been emperors or kings, but they -- and the vast national-security structure that continues to be built-up and institutionalized around the presidential self -- are certainly one of the nightmares the founding fathers of this country warned us against.  

http://www.nationofchange.org/praying-church-st-drone-1338909597  

Wed, 06/06/2012 - 19:27 | 2501426 Bob
Bob's picture

Wait a minute--according to the ZH anti-commie intelligentsia, the liberals are all gung ho about Obama.

What's this about?

Wed, 06/06/2012 - 19:31 | 2501445 potlatch
potlatch's picture

I am fairly confident that most of us understand US politics is just a commodities market for people who can't do math

Wed, 06/06/2012 - 23:07 | 2502073 bigkahuna
bigkahuna's picture

There are no liberals. You have communist socialists (dims) and fascist socialists (rebublicans). Or to make it easy, they are all just a bunch of statists. 

There are Libertarians though.

Thu, 06/07/2012 - 06:28 | 2502655 Disenchanted
Disenchanted's picture

 

 

 

Oblahma is the Decider II, he decides who will die via drone.

 

Good thing we have this General here on the homefront to take care of the uppity unemployed muppets(take note of the FAS .pdf detailing the cost of the latest wars):

excerpt from: http://www.thenewamerican.com/usnews/foreign-policy/item/11588-cfr-us-ar...

 

 

In an article penned by Chief of Staff of the U.S. Army, General Raymond T. Odierno, the CFR would see the Army used to address “challenges in the United States itself” in order to keep the homeland safe from domestic disasters, including terrorist attacks. Odierno writes:

 

Where appropriate we will also dedicate active-duty forces, especially those with niche skills and equipment, to provide civilian officials with a robust set of reliable and rapid response options.

 

That’s right. Should the sheriff suspect that a particular citizen in his county poses a threat to security and feels he doesn’t have the proper “skills and equipment” to deal with the situation, he can just call out the U.S. Army and bring a “rapid response” force that is robust enough to eliminate the problem.

 

These are not the musings of an unknown academic written in an obscure journal of little importance. These are the black-and-white plans for “building a flexible force” as laid out by the man in charge and published for all the world to read by the people who may have put him there.

 

In order to justify this new (and illegal) mission for the Army, General Odierno points to three “major changes” that have precipitated the re-tasking of the troops: First, “declining budgets due to the country’s worsened fiscal situation; second, “a shift in emphasis to the Asia-Pacific region; and third, a “broadening of focus from counterinsurgency, counterterrorism, and training of partners to shaping the strategic environment, preventing the outbreak of dangerous regional conflicts, and improving the army’s readiness to respond in force to a range of complex contingencies worldwide.”

 

There are so many things wrong with every one of these points that each deserves its own article focused solely on its deconstruction. Unfortunately, there is only so much space and each of these considerations has one critical flaw in common: no constitutional authority for any of it.

 

Start with the woeful economic state of American affairs. Odierno lists this first among his unholy trinity of reasons the army must “transition” from its traditional role to one with a wider domestic and international scope.

 

Perhaps it has escaped General Odierno’s attention, but the decline of America’s economic fortunes may be in some significant part tied to the illegal wars in Iraq and Afghanistan that siphon about $13 billion per month from the U.S. Treasury. Since the attacks of September 11, 2001, estimates are that Congress has approved a total of $1.283 trillion in military operations, (Editorial note:  Newer accounting more than triples these figures) base security, reconstruction, foreign aid, embassy costs, and veterans’ health care spread over three operations: Operation Enduring Freedom (OEF) Afghanistan and other counter terror operations; Operation Noble Eagle (ONE), providing enhanced security at military bases; and Operation Iraqi Freedom (OIF).

 

There is a certain macabre irony to the claim by a military leader that his troops are forced to adapt to stringent budget considerations partially brought about by the use of his troops as the tip of America’s sword of empire.

 

General Odierno’s third “major change” is the need to use the Army to solve complex international conflicts. Again, these conflicts and the solutions to them are made more complex by the fact that there is not a single syllable in the Constitution that grants the President or Congress the authority to deploy American armed forces to work out the world’s difficult dilemmas.

 

Here is the General's contribution to the CFR's Foreign Affairs rag:

http://www.foreignaffairs.com/articles/137423/raymond-t-odierno/the-us-a...

Wed, 06/06/2012 - 17:28 | 2501097 CrockettAlmanac.com
CrockettAlmanac.com's picture

Oh, for the love of Benji!

Wed, 06/06/2012 - 23:53 | 2502149 Vendetta
Vendetta's picture

Just say no to drugs mdb especially meth and purple microdot in combination

Thu, 06/07/2012 - 00:20 | 2502201 Samual Adams
Samual Adams's picture

I served 14 months of that 'SURGE',  in baghdad.   I don't think it was a success.   But that's just me and my 1st hand analysis. 

"Veterans say wars weren't worth it"

http://rt.com/usa/news/soldiers-iraq-wars-american-139/

Thu, 06/07/2012 - 19:41 | 2505708 MeelionDollerBogus
MeelionDollerBogus's picture

LOL

well bold does hint at a few more plebes that /sarc is implied

Wed, 06/06/2012 - 17:04 | 2500975 kito
kito's picture

not true, my vote goes to gary johnson. the man never met a balanced budget he didnt like.................

Wed, 06/06/2012 - 17:36 | 2501001 Ima anal sphincter
Ima anal sphincter's picture

It does not matter which candidate the "bankers" choose. The status quo will remain.

My ass has been reamed so much, I'm wearing a diaper now. It's just a wide open bleeding hole.

This is where "The People" need to step in.  If just 1 million people grabbed their guns and headed off to DC, we could correct this mess in ONE day. Not a shot needs to be fired. Simply walk in and say ................... YOU'RE FIRED!

Wed, 06/06/2012 - 17:56 | 2501204 TacticalZen
TacticalZen's picture

Yes! All our troops are deployed. Not a shot need be fired.

Wed, 06/06/2012 - 23:10 | 2502079 bigkahuna
bigkahuna's picture

Troops would not fire at that.

 

-lest a nasty skirmish break out in the ranks.

Thu, 06/07/2012 - 00:13 | 2502206 Samual Adams
Samual Adams's picture

Kent State......Some troops are zombies.

Wed, 06/06/2012 - 17:15 | 2501045 piceridu
piceridu's picture

+++

Thu, 06/07/2012 - 00:38 | 2502277 prodigious_idea
prodigious_idea's picture

Me too (not the puking).  But I had to change my D to an R to vote RP in the primary.  I don't care what's on my voter registration card, because it's like I keep saying:  If you're still checking voter registration cards you don't have a fucking clue what you should be worrying about.

Wed, 06/06/2012 - 16:57 | 2500948 Bastiat
Bastiat's picture

Heh. Good one!

Wed, 06/06/2012 - 17:11 | 2501022 BankruptBanker
BankruptBanker's picture

Is this guy for real?!

Oh waiter, some more Hope and Change for MDB right here...

 

Wed, 06/06/2012 - 17:33 | 2501119 resurger
resurger's picture

yo, have you seen Max Ficher lately?

Wed, 06/06/2012 - 18:38 | 2501291 gr8t4ever
gr8t4ever's picture

how's that since Obama was sworn in Jan 2009?

 

Vote Romney so we can have the same experience as Bush.  No thank you.

 

Allow 3rd terms and bring back Clinton!

Wed, 06/06/2012 - 23:25 | 2502100 Freddie
Freddie's picture

Clinton was another Ivy League Bilderberger like Bush 1 and 2 and Hussein.

Wed, 06/06/2012 - 23:55 | 2502156 Vendetta
Vendetta's picture

Clinton, his administration, and the republican held congress set the legislative stage for all the disasters that have occured since.

Wed, 06/06/2012 - 18:45 | 2501304 Stoploss
Stoploss's picture

I will be sure to keep that in mind as i vote for Ron Paul.

 

Wed, 06/06/2012 - 19:15 | 2501389 blueridgeviews
blueridgeviews's picture

Why vote for Romney when we can have 4 more years of a deteriorating economy. The good part is just around the corner.  You know, civil unrest, collapsing currency and all the other fun that comes from selfishness.

Wed, 06/06/2012 - 19:41 | 2501472 silverserfer
silverserfer's picture

 Yes, after careful consideration.

 Mitt Muther Fuckin Romney! Wheeeheeew lets go do some blow!

 

WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEHEW!  Whew Whew!

Yeah, right on!

Wed, 06/06/2012 - 20:36 | 2501619 Jack Burton
Jack Burton's picture

Another great post Million Dollar Bonus!  I too have finally had it with Obama refusing to put a jobs bill before congress. His failure to care about working Americans by refusing all appeals to present a jobs bill to congress has made me believe Obama has abandoned middle class America. All he cares about is the minority groups who he backs with all kinds of social benefits legislation.

No, look at Romney's job creation as head of a private equity job creating company. He saved companies and preserved hundreds of thousands of good paying American jobs. His equity firm funded new job creators who added 100,000's of new high paying jobs. Romney across the board is a proven creator of jobs. I am voting for Romney for his job creation record, his vow to return freedom to the banks and stock markets which have had to operate under Obama's socialist job killing regulations. Obama has ordered the oil companies to cease drilling and forbidden coal to be mined. Under Romeny the oil and coal companies can hire back their layed off work forces and begin to produce domestic enery again after almost four years of the Obama ban on energy production.

Romeny is no surrender monkey like Obama, Romeny will once and for all kill Bin Lauden and other anti American terrorists who Obama has protected. Romeny will conquer the Taliban and Iran. Obama has surrendered American freedom across the globe, Romeny will fight for our freedom and defeat the people who hate us for our freedoms.

The Kenyan Muslim whose radical Islamic socialist policies have destroyed the prosperous economy Bush left him in 2008 is about to be handed a ticket back to his homeland of Kenya where he can dedicate the rest of his life to Islamic fundamentalism and socialism.

Wed, 06/06/2012 - 21:13 | 2501761 General Decline
General Decline's picture

I hope your not planning on getting behind the wheel tonight.

Wed, 06/06/2012 - 21:53 | 2501880 Jack Burton
Jack Burton's picture

Just trying to poke a little fun at the whole thing. American political life is all a one party hoax. One can only lampoon the whole thing for kicks before people catch on and burn the whole system down someday!

Cheers!

Wed, 06/06/2012 - 22:12 | 2501938 Almost Solvent
Almost Solvent's picture

Your sarc delivery is almost as deadpan as MDB's 

 

Kudos

Wed, 06/06/2012 - 23:56 | 2502164 Vendetta
Vendetta's picture

No, he's flying the plane filled with children

Wed, 06/06/2012 - 22:10 | 2501930 bunnyswanson
bunnyswanson's picture

AIPAC/Council for Foreign Affairs/NWO bankers now run this USA and the agenda of any president which comes into office is their agenda.  They are just fucking with you, giving you the illusion of haing a say in how America will be.

It is all a dog and pony show put on by the media, who work for the same organizations. 

Thu, 06/07/2012 - 00:24 | 2502235 rotagen
rotagen's picture

Gee, last time I checked the people who paid for Mitt the Idiot were those same wankers, I mean Bankers everyone's talking about.

Wed, 06/06/2012 - 20:06 | 2500899 Shocker
Shocker's picture

Quick update: Just a couple from past few days

 

 

Supervalu Inc - 2,500 Layoffs

Strauss Discount Auto Closing all 46 Stores

15 Farm Service Agency in Texas

Reading School District PA - 110

Cooper Bussman Transportation - 74

Update: American Airlines - Total of 1,400 Manager Layoffs

The state Department of Labor and Training RI - 60 to 70



 

Couple words... Check it out for yourself

 

http://www.dailyjobcuts.com

-

Wed, 06/06/2012 - 22:12 | 2501935 technicalanarchy
technicalanarchy's picture

Thank you I have been looking for that site again for a month. 

Wed, 06/06/2012 - 16:52 | 2500924 DoChenRollingBearing
DoChenRollingBearing's picture

Anecdotal evidence for what it's worth:

 

My brother shut down his retail shop, no sales.

A friend told me her art gallery has had NO growth in sales since 2007.

A realtor I know has had very little business since 2009.

Bearing's family suffering because of low interest rates (less income).

***

What does this mean to me?  Capital destruction...

Wed, 06/06/2012 - 17:03 | 2500969 U6 Alabamian
U6 Alabamian's picture

I know a motorcycle dealer near where I live is a quarter million in debt and 4 months away from closing his doors.

Wed, 06/06/2012 - 17:47 | 2501178 Sudden Debt
Sudden Debt's picture

I know 3 ceo's from big ass multinationals who will soon launch plan B in their companies.
"Cut social costs", 3 nice words for restructuring.

I also know a ceo of a retail branch that will be closing the doors of 27 retail stores and go E-biz for 100%. when I asked him how much turnover he's doing now on his webshop he said 14%.... staff and the shops and stocks are just to expensive. It's cheaper to become smaller again.

Wed, 06/06/2012 - 18:51 | 2501323 Shizzmoney
Shizzmoney's picture

Intereting intel there, Sudden Debt.  My CEO owns a warehouse in NJ that has over 111 temps. 

Bullish on *his* bonus

I also expect JC Penney to go busto by end of the year, and maybe even Sears.  *That* will throw a monkey wrench into the psyche of the Baby Boomer consumer.

Wed, 06/06/2012 - 19:48 | 2501469 potlatch
potlatch's picture

you've got a bingo there buddy.  Either of those go, that is pretty massive.  An entire generation grew up with both or one of those as anchor in their shopping malls.  Larry Summers may not grok this, but this is no joke.  JCPenny would be the big one; in the "psyche," as you so aptly said, that store, not Sears, represents the aspirational middle class.

 

It's like something I read in Jung somewhere: "every society has a JCPenny or is in the procez of developing one."

 

but the larger picture is what really gets me: the collapse of the mall system.  We may all hate them, but do you realize what their collapse means?  The end of the "real" market, the markeplace as such, its then total digitalization, pixelization, virtualization.

 

that's some sick shit to fathom

 

but if we start on bailouts, lets start with wierd stores first.  like, whatever happened to stores that only sell scented candles?  Come on!

Wed, 06/06/2012 - 20:04 | 2501527 Yes_Questions
Yes_Questions's picture

 

 

The first proof positive sign of collapse regards retail for me was the Kmart/Sears merger.  Then all the Blockbusters going away.  I live in deep suburban environs, and NO video stores, despite long lines on the weekends as always before the purge.  Brick and mortar shopping (the "real market") will always have a place though.  Our consumer needs will always create demand for face to face, tactile interaction with products while considering purchase.   I concede the direction things are heading now, of course do not signal a robust future for brick and mortar.  But, one can still dream no?

 

And bring back my damn video store!  And ye olde Butcher Shoppe!

Wed, 06/06/2012 - 21:58 | 2501888 Miffed Microbio...
Miffed Microbiologist's picture

I hated Blockbuster because they put our 2 local mom and pop video stores out of business. Now they're gone. Quite shocking because they were the only video store for miles in our little town ( I think Netflix did them in). Just saw today what will be going into the space...Goodwill! I mean really? Goodwill in the spot where a major anchor store was? The scary thing is we already have a smaller Salvation Army down the street.

Miffed:-)

Wed, 06/06/2012 - 22:15 | 2501945 Almost Solvent
Almost Solvent's picture

Don't forget those redboxes. They are in the local grocery, Rite Aid, and several gas stations. 

 

Fucking people standing in line at a gas station to rent a DVD from a redbox. 

 

Insane 

Wed, 06/06/2012 - 22:49 | 2502020 Cathartes Aura
Cathartes Aura's picture

Blockbuster has always been on my "s**t list" as a conglomerate with the power to enforce "directors cuts" of films they deemed not suitable - including such as John Waters parodies with "swear words" removed from dialog, and stealth cuts to Hal Hartley fims (among many others).  if I recall correctly, they were run by the LDS?

Fk Blockbuster and their corporate fakery.

Wed, 06/06/2012 - 23:19 | 2502093 jumbo maverick
jumbo maverick's picture

My town is only 20,000 yet we have a large goot will, not one but two salvation army locations, a very active catholic charity office, one school that is now a soup kitchen/outreach center, and on and on and how can I forget the ambulances are stocked with all the motherfucking narcan you could ever need. Get ready it's all coming your way. Misery to all..

Thu, 06/07/2012 - 00:18 | 2502221 Miffed Microbio...
Miffed Microbiologist's picture

Dear lord! Our town is 37,000 and I thought it was getting bad here.I'm just amazed this has gone on as long as it has. There's got to be a tipping point sometime. So disturbing standing in front of a tsunami with no where to run and not knowing when it will crash down on you.

Miffed:-)

Wed, 06/06/2012 - 21:45 | 2501844 U6 Alabamian
U6 Alabamian's picture

I remember playing and hiding in the clothes racks while my mother shopped at JC Penny's as well as Gayfers.  Ah childhood, not a care in the world.

Wed, 06/06/2012 - 19:46 | 2501486 Yes_Questions
Yes_Questions's picture

 

 

Sears needs to stick with the tools and quit trying to compete in the soft lines.

Wed, 06/06/2012 - 19:51 | 2501498 potlatch
potlatch's picture

I'm not handy at all, but a well-stocked Sears tools and hardware department is a thing of beauty.  no joke.

 

my wife (god rest her) was crafty, and she used to drag me there just to hang out.

Wed, 06/06/2012 - 20:08 | 2501536 Yes_Questions
Yes_Questions's picture

 

 

All Sears should have a cafe with the guy in the photo above, burgers, dogs and all within view of the wonderful, shiny, ADD triggering tools: powered, hand, and yard.

Sorry for your loss.  FWIW, my wife has no patience for my terminal distractions near anything hardware.

 

+better times

Thu, 06/07/2012 - 06:32 | 2502662 Seer
Seer's picture

"FWIW, my wife has no patience for my terminal distractions near anything hardware."

Had to laugh... that was my first wife.  My current one is very supportive, she even rides my butt about me dragging my feet on spending money on stuff that I'm wanting: I took months to pick up a decent used box blade for the tractor [got it!]; and am currently holding out for a decent used truck [got lots of need piling up!]).

Wed, 06/06/2012 - 21:30 | 2501808 DaveyJones
DaveyJones's picture

at least you could look at shoes while she was busy

Wed, 06/06/2012 - 22:51 | 2502028 Cathartes Aura
Cathartes Aura's picture

/grins

Wed, 06/06/2012 - 20:41 | 2501644 duo
duo's picture

JCP caters to the middle class that is going away fast.  It will be Wal-mart at the bottom, Target for those days that Walmart is too crowded with EBT customers, and Nordstrom at the top.  Maybe a HD/Lowes here and there.  Amazon for the rest.

Long barbed wire and broken soda bottles.

Wed, 06/06/2012 - 17:09 | 2501004 Colonel Walter ...
Colonel Walter E Kurtz's picture

More anecdotal eveidence for you.

In construction subcontracting business. Doing only 30% of business each year that we did for 20 years before 2008 (and we are talking high single digit millions here). No one tries to hire anyone anymore because all the regulation costs are just too much compared to the subcrews that can be used that are either hiring workers on an incorrect 1099 basis and/or using illiegal labor. The American middle class worker cannot compete with those that are going to cheat the system or those that are here to escape $10/week wage that south of the border has to offer.

This country and government better start facing up to all the problems we have and start solving them or we are in a world of hurt.

I think we ARE in for a world of hurt!

 

 


 


Wed, 06/06/2012 - 20:32 | 2501616 Yes_Questions
Yes_Questions's picture

 

 

Baby steps, the straw is still stacking on the camel's back.  Damn tough those camels, but one straw too many will be drawn and stacked in time sure enough.

That's my hope at least: the people through its subordinate government will finally face up to the problems. 

But the hurt will go on til then, I'm afraid.

Wed, 06/06/2012 - 21:33 | 2501827 DaveyJones
DaveyJones's picture

My childhood best friend is a civil engineer  and built big buildings in LA for twenty years. Saw him not long ago. Nothing being built.  

Thu, 06/07/2012 - 00:01 | 2502178 Vendetta
Vendetta's picture

If he would build massive towers of debt, the people would come.  /snark

Thu, 06/07/2012 - 06:01 | 2502636 memyselfiu
memyselfiu's picture

You know, I don't know if you Americans are really suffering from all the red tape and regulation, or just a bunch of fucking crybabies.... up here in soviet canuckistan in the construction business you know what needs to be done, you submit whatever paperwork that needs to be submitted (and it's the same almost every time so it's cookie cutter) AND YOU DO THE FUCKING JOB.

 

Thu, 06/07/2012 - 06:40 | 2502666 Seer
Seer's picture

Construction?  Did you not see the bubble?  And you want to blame govt?  Sorry, costs are too high, the market is saturated.

Lots of those "regulations" that people wish to knock by the wayside are barriers to theft from the future: yeah, the BIG folks still are able to do this.  But, fuck, let's just burn it all up now and get it over with.  When govt is long gone what will people be blaming their situations on?

Wed, 06/06/2012 - 17:17 | 2501052 resurger
resurger's picture

Forward >>

Wed, 06/06/2012 - 17:19 | 2501057 Gully Foyle
Gully Foyle's picture

DoChenRollingBearing

For what it is worth.

Locally there are many minimum wage jobs, mostly at restaurants and nursing facilities.

My sons friend just got a temp job at CUMMINS. The other temps told him it is impossible to be fired and they will be adding even more people.

His pay is 10 an hour and double time if they work weekends.

Naturally no benefits for the temp but the nursing homes offer them.

Way back in the eighties the CUMMINS rumor was they were going all temp. They had closed one SC plant, laid off the regulars and opened the next day with all temps.

My ex worked there in waste treatment. She was hired just before they started cutting bennies and hourly wages.

When the plant first opened they had flex shifts where you could work as many hours as you chose. People bought campers and lived in the parking lot putting in hundred plus hours.

That golden age only lasted about two years then they went to a line.

Locally the future is Nursing homes and temp factory work at the few remaining plants.

Naturally when the temps get laid off they collect UE.

But a temp agency doesn't like paying UE so they tend to shuffle people from one short time employment to another.

Also makes me wonder where all those CUMMINS engines are headed.


Wed, 06/06/2012 - 17:34 | 2501125 Jendrzejczyk
Jendrzejczyk's picture

Gully Foyle

All those Cummins engines are going to power emergency generators. I'm putting two in this summer at local schools so they can be used as "emergency shelters".

I read "emergency shelters" as" "FEMA camps", but I'm just a tad paranoid.

Wed, 06/06/2012 - 20:39 | 2501628 Yes_Questions
Yes_Questions's picture

 

 

My tin foiled magic eightball says "nail, meet hammer".

Wed, 06/06/2012 - 20:27 | 2501601 Bringin It
Bringin It's picture

Gully - that's a depressing description. 

Do people grow anything?  Does anyone consider self-sufficiency a goal?

re. Nursing homes.  The money for that will go away IMO.

Wed, 06/06/2012 - 22:55 | 2502037 Cathartes Aura
Cathartes Aura's picture

nursing homes will definitely disappear when the benefits slow-drip stops.

Mon, 06/11/2012 - 01:52 | 2513451 Bringin It
Bringin It's picture

CA re. disappearing funds.  Check this out in CA.

http://www.sacbee.com/2012/06/10/4550669/move-over-wisconsin-the-union.html

A lot of people with 3-figure pension incomes are going need therapy when they understand ... finally, ... about the ponzi they've been living in their whole lives.

Wed, 06/06/2012 - 23:26 | 2502101 jumbo maverick
jumbo maverick's picture

Yeah wait till all the baby boomers start dying in the nursing homes. Who you think is gonna pay for their burial? 3 to 5 grand a pop for indigent burial to be shoved into a cardboard box. Who's gonna pay for all that?

Wed, 06/06/2012 - 18:14 | 2501242 Widowmaker
Widowmaker's picture

Fuck your realtor, you can have everyone else on your list thank them too.

I'm almost sure you voted for the Republishits.  Everyone that did (not in the 1% blowjob club) deserves everything they get.

"Mission accomplished, Dick?"

"Mission accomplished, George."

Wed, 06/06/2012 - 19:53 | 2501506 potlatch
potlatch's picture

transcend the political dude, you will thank us later.

Thu, 06/07/2012 - 06:42 | 2502671 Seer
Seer's picture

+1000

Wed, 06/06/2012 - 19:33 | 2501451 potlatch
potlatch's picture

thnx dochen, for getting the thread back on point

Wed, 06/06/2012 - 20:22 | 2501588 seek
seek's picture

FWIW here, my brother relocated his biz (engine recycling) to a smaller shop, had previously laid off all but 1 employee, and he's cut that employee's hours to 1/4 time, I'm having to send him support checks about once every two months to keep the lights on.

This is a bottom-feeding business, people buy used engine parts when they can't afford either a new car, or a new part for an old car. So old parts going into used cars -- and business has tanked, no one can afford even that it appears.

My own business (tech/finance) is stable, but I've never had to worry about clients paying on time before.

I have fortune 100 clients that are 9 months late, and several of them are ex-post-facto changing terms from net 30 to net 45 or even net 60, and then offering payment net 10 if I accept anywhere from a 1%-10% discount -- so they're basically trying to leverage suppliers that have poor cash flow into taking payment cuts.

Thu, 06/07/2012 - 02:06 | 2502449 prodigious_idea
prodigious_idea's picture

That's not a new thing.  Big companies have been doing it for twenty years.  I had a fabrication company that sold to Intel, Fujitsu, SEH, etc twenty years ago.  The joke among suppliers was "Intel pricing", which was code for a 10-20% discount and 45-60 day payment cycle.  Home offices are another example.  My wife has worked for one of the largest corporations in the world for 10 years, following a 14 year stint at another mega-corp, where both have you set up an office in your home.  Is there ever any compensation for the utilities to run the "office"? No.  Do you have to store a certain amount of their shit at your house?  Yes. She gets a vehicle allowance and a fuel card.  We are preparing for the day when that goes away.   More is coming so get ready. There just aren't too many areas where an already-leaned-out company can save except to pass the cost onto it's employees.

Thu, 06/07/2012 - 06:46 | 2502675 Seer
Seer's picture

"So old parts going into used cars -- and business has tanked, no one can afford even that it appears."

I guess I'm one of the wealthier folks, still doing repairs on my 22-year-old econo-car...

Several years ago I'd thought that the auto parts stores might be a decent investment.  I figured, at least, new car sales would plummet.  One out of two correct...

Wed, 06/06/2012 - 20:44 | 2501650 mjk0259
mjk0259's picture

"A friend told me her art gallery has had NO growth in sales since 2007."

 

Homo's don't reproduce?

Wed, 06/06/2012 - 23:01 | 2502054 BlueCollaredOne
BlueCollaredOne's picture

I work for my family. As a company, we were presented an option. Either we fire 15 employees so everyone gets 40 hour work weeks, or we keep everyone employed and everyone works 32's. Our workers chose 32. Search my previous posts,I am a young man who has no faith in my peers. Bur every now and then the vox populi suprises me. Don't lose faith bitchez.

Wed, 06/06/2012 - 16:55 | 2500938 max2205
max2205's picture

$10 says we all get $300 stimulus checks from Obamerama before the election to make up for Bennie printing in July and sending all of it to Europida

Wed, 06/06/2012 - 17:33 | 2501116 ultraticum
ultraticum's picture

Max:  I'll take that bet . . . banksters would never let that happen in a million years.  And O'Bomber is a bankster puppet.

Doesn't everybody know in a fiat money system the BANKERS get all newly printed money first?

Wed, 06/06/2012 - 19:58 | 2501513 potlatch
potlatch's picture

that is because the market itself is a construct between government and the financial sector.  The market?  Distorted via data lenses as weapons and/or shields by said parties.  Meanwhile, the people shall slowly more and more go zombie, until one or the other stops fucking around.  All the government *can* do is print money, that, or fund infrastructure.  Right?

 

And what is it, exactly, the financial sector can do?  Remind me again?  Tell us that its breakfast in America:

http://www.xtranormal.com/watch/13486003/breakfast-in-america

 

 

Wed, 06/06/2012 - 17:54 | 2501199 Saro
Saro's picture

Hey, 10 shiny, new silver eagles is nothing to sneeze at.

But he better hurry; if he waits too much longer to send out the checks we'll only get 1 out of it . . .

Wed, 06/06/2012 - 17:42 | 2501161 yabyum
yabyum's picture

Dr Head, $3000 would buy 100 oz of the shiny....what say you million dollar dick?

Wed, 06/06/2012 - 16:34 | 2500836 LFMayor
LFMayor's picture

not enough plastic melanin rice to sustain 1.3 billion Chinese, either.  Rong Pohk, Beetchez!

Wed, 06/06/2012 - 16:43 | 2500880 pods
pods's picture

ROR

Wed, 06/06/2012 - 18:11 | 2501236 RichardENixon
RichardENixon's picture

LOTFRMAO!

Wed, 06/06/2012 - 16:38 | 2500859 JR
JR's picture

Not enough middle class to sustain bankers’ lifestyle.

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