As I see it through my reading glasses, we are in trouble.

Discussion in 'Economy' started by Neubarth, Jun 28, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    I have posted information from the Large Scale Lay-Off list before. The info for May has reached the highest level since this statistic was created in 1995, according to CNN.
    http://money.cnn.com/2009/06/23/news/eco....on=money_latest

    As I keep yelling, this is just another indication that the economy is rapidly falling. There are no signs that it is righting itself, and obviously no signs of RECOVERY, no matter how many Green Shoots the Obama Minions say are out there.

    I have pointed out that the U.S. government has been very successful in duping market “sheeple” through publishing totally fraudulent monthly jobs reports. With the U.S. economy losing roughly 2.5 million jobs each month. (See my post about 25,000,000 people lost their jobs in the past 12 months.)

    This corrupt government claimed that only 345,000 jobs were lost in May.

    The sad fact is that the unemployment rate continues soaring higher each month.
    The “mass lay-offs” are at record levels.
    Numerous state governments across the U.S. are slashing spending to meet budget shortfalls (i.e slashing jobs)!!!

    The Obama administration reports on the economy consistently lack connection to sanity or even semi rational thinking.

    I see a job rate fall that is almost linear. In the past month, I have been all over California looking at the unemployment situation. The lost jobs here are increasing at an even greater rate month after month. It is very ugly out there, and the general public seems to be oblivious to how bad it is.

    In looking at Job Loss charts in textbooks about The Great Depression, I get the distinct impression that we are losing jobs at almost the same rate as 1929 and 1930. As we saw last week, there is no moderating of the unemployment situation. It just keeps getting worse regardless of the Obama trickery with the numbers and lack of basic arithmetic skill.

    Wages have started falling as people displaced in one job are taking lower wages in their new job. Let’s face it, “Any Job is better than No Job.” (Something I have been telling my young adult kids for the past year, and they still do not have real jobs.)

    Now, take those falling wages and add them to the unemployment and the cut off of liberal credit card distribution by the major banks, and we are going to see a tremendous collapse in spending. Hell, some people are actually saving for a rainy day that may be just a few days off. We are a Service Sector Economy. More money changes hands for services than any other transactions even though we are still the leading Industrial Country in the world (Twice the size of Red China).

    Well, with less employment and less credit and lower wages, we will be paying for less and less services in the future. Why order a pizza when you can make spaghetti for the forth time this week? “Bring Grandma back from Shady Hills Rest home and give her the back bedroom. We can not afford to keep her in Shady Hills anymore.”
    Unfortunately, when we cut back on our services, other service sector employees get laid off and they don’t pay for services any more. Can you say “Potential Layoff Avalanche?”

    Obama’s Stimulus Package is puny when compared to the reduction of spending that has already hit the US. If you look at the numbers, Obama’s efforts are puny in comparison. So, how is that going to lift us out of this Depression?

    Did you know that the housing value collapse is several times worse than the decline during the Great Depression? In looking at the charts, our collapse looks to be about 2.5 times as bad. I need new reading glasses, so it might even be worse. That is a lot of money that just evaporated, and might not come back in the next few years. Of course, if we pump money into the economy, we can have inflation, and that will restore the numerical value of those homes, Unfortunately that won’t restore the buying power that one could have had if they sold the house and bought gold or any other commodity. We have lost lots of our savings and are still in debt.

    Gosh, that sounds just like the United States government as well. Sadly, the United States currently has more than $60 TRILLION in public and private debt!

    http://www.bullionbullscanada.com/i...us-versus-china&catid=51:commentary&Itemid=99

    That is more than every other country in the world combined. In addition, just as tens of millions of U.S. “baby-boomers” begin to retire, the U.S. has close to $100 TRILLION in “unfunded future liabilities”, with an estimated twenty Trillion of those dollars supposedly being paid out to U.S. baby-boomers over the next decade.

    Folks, we are in trouble and I have seen only one green shoot. Everything else is fertilizer.
     
  2. Paulie
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    Paulie Platinum Member

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    I don't know Neubarth, in my travels the past few months, I've seen an incredible amount of consumerism. Restaurants are still packed, mall parking lots are filled, movies are selling out, etc.

    I live in a summer tourist area, and there's no shortage of tourism this year. Still the same damn traffic congestion from the typical summer invasion here. And I don't just see this where I live, I see it in other surrounding states where I've travelled to the past couple months. If anything, the complaints I've heard from merchants in my area are more about the unusually high amount of rain we've gotten this spring than anything else, because that tends to cut down on the weekend tourist influx.

    If there's a recession that's really THAT BAD, I just don't see it. Someone's getting money from SOMEWHERE.
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    Dude! There are still a lot of people who have jobs. And even most of the jobless still have benefits. Life is still good if you are employed. Hell, some of those people who still have jobs are even considering buying one of those foreclosed properties at an auction for an investment. For them, the world is wonderful.

    I went through the past four recessions without a worry in the world. I had a job. I still have a job and am not worried for myself, but I am worried for my country.
     
  4. Dis
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    How come you can wear reading glasses, but not clothes to post?

    Oh, and black socks NEVER went with shorts of ANY color.
     
  5. wimpy77
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    wimpy77 Member

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    90% of people still have a job. the casinos where i live are packed and the hotels are full.
     
  6. Neubarth
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    Neubarth At the Ballpark July 30th

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    Actually, Whimpy, most of the people do not have jobs. The labor force is something like 155,000,000 out of 310,000,000. The labor force is about half of our population or about 65% or our population over 16. (MY numbers may not be exact, but they are from memory and I AM 62 and you know what that means about memory.)

    Just the same, if unemployment is 10% of 155,000,000 that means 15,500,000 are unemployed who were working previously. The reality is that about 20% of the people who want to work or would work if there was any hope of a job, so we really have about 30,000,000 people who are able bodied but are not working real jobs.

    That is very frightening.
     
    Last edited: Jun 30, 2009
  7. Neubarth
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    Neubarth At the Ballpark July 30th

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    I sometimes sit quite nude to post if I am alone in my apartment. I am a nudist in the privacy of my own home in the summer. If somebody comes to the door, I slip the blue shorts on.

    As regards BlackSocks, those were chemically treated socks for hiking in the mountains in Summer. They repelled insects. Worked good, too. Bought them from a shop in Russia. They were soaked in some kind of Vodka-Tar solution. For the first two times I wore them while hiking (white socks underneath) I felt like I was slightly drunk from the Vodka, but it might have been the tar. Hell, I'll try anything a time or two. I went back to a solution called 6-12 that I bought in Mexico. Bugs leave you alone, but bears think you smell pretty and get amorous. You have got to stand up straight and yell at them and say "I'm not that kind of guy!" and they will leave you alone.
     
  8. Paulie
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    Paulie Platinum Member

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    I see help wanted signs all over around my area. Mostly for the kind of job that pays less than $10/hr, but what's worse, $10/hr or NOTHING?

    When you say "would work", that's relative. That whole entitlement issue keeps people from accepting less money than they think they should be getting.

    If you're jobless and you're hurting, go fucking deliver pizza. You can make pretty good money doing that.

    Or sit home on your ass and complain about life, whatever works for you I guess, right?
     
  9. pinqy
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    pinqy Gold Member

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    So why is this survey not bogus, yet the other BLS surveys are? Surely you're not claiming that the Unemployment figures are manipulated by "Obama stooges," yet the Mass Layoff survey, which comes from the same Office that puts out the Unemployment figures, is correct? That seems odd, even for you.
     
  10. pinqy
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    pinqy Gold Member

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    Closes enough. You at least show understanding of that.

    It means nothing of the sort. Unemployed does NOT mean you lost your job. It just means you didn't work during the survey period and are currently looking for work. Only about 10.5 million were working previously. About 3 million are coming back to the workforce after a period of absence and just under a million have never had a job before. (Table A-8 of the Employment Situation)


    So reality is now a number you made up off the top of your head? Under the CPS, only about 8% of those Not in the Labor Force say they want a job (up from 7 % last year so a definite sign of decline) but 2/3 of them haven't looked for work in over a year so their opinion of the labor market is probably not very accurate. (Table A-13 of the Employment Situation.
     
    Last edited: Jul 1, 2009

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