Ethical Standard Guaranteed to Fix the Economy

[Misaki]

Two options for job creation:

1) Higher government spending and taxes: http://wh.gov/aJ6T

2) Working less so companies can hire more: http://wh.gov/cVNr

If you do not take a minute to sign either one, or both, of these petitions, you are unethical, immoral, or colloquially, "evil". This is completely legal of course.

Anyone who benefits by association with someone who has not signed either of these petitions is also "evil".

A brief description of how to encourage people to work less for those unfamiliar with the concept:

The first 20 hours are paid at 1.2 times the normal hourly rate for full-time work.

Work beyond 20 hours in a single week is paid at 0.8 times the normal hourly rate.

In the event neither petition receives enough signatures to earn a response, we can conclude that everyone else in the United States is "evil" and people should be made aware of this so the unemployed and poor do not keep hoping for a peaceful resolution to their problems and intelligent people do not feel they need to look for one.


A thank you to Yoko Ono for allowing comments to be published on her site.

 

[waltky]

EU is dealing with its fiscal crisis, but U.S. seems paralyzed...

U.S. economy worse than Europe
'Child fiscal abuse': America's unfunded liabilities total $222 trillion

At a European conference on the sovereign-debt crises that I *attended this week, my overwhelming conclusion, after listening to many experts, is that the U.S. is in far more trouble than Europe. This was brought home by calculations presented by Larry Kotlikoff of Boston University at a lecture held at the International Institute of Public Finance, the biggest gathering of public-finance experts in the world. Greece may be bankrupt, but the U.S. looks like a giant Ponzi scheme. Kotlikoff’s calculations show that U.S. unfunded liabilities total US$222-trillion, the highest of all major OECD countries (12% of the time value of U.S. GDP) once accounting for monetary public debt, Social Security deficits and public-health-care unfunded liabilities. One can quibble with some of the calculations, but no one can doubt that the U.S. is in serious fiscal trouble, more so than any other developed economy.

The U.S. reflects the most extreme case of intergenerational inequality. Generation after generation has participated in a Ponzi game, leaving younger taxpayers to pick up the tab for money effectively borrowed by older generations to spend on unfunded benefits. Kotlikoff labelled such practices as “child fiscal abuse,” a rather strong term but not far from the truth. Euroland is in a fiscal crisis too, but it is trying harder to deal with its debt problem. As another speaker pointed out, market interest and credit default rates suggest more than a 50% probability that one or two countries will leave the euro within the next three years. An unmanaged exit from the euro, especially by a large country such as Spain, could result in a global credit crunch, since sovereign debt held by banks would be sharply marked down in value.

Yet, the answer to the fiscal dilemma is not another fiscal stimulus that adds to a mountain of public debt, as pushed by some economists like Paul Krugman. Instead, debt-ridden economies must embrace structural reforms to the public sector that will lead to better economic growth without pushing economies into a recession. The Europeans are slowly addressing their problems by undertaking significant and painful reforms, including cuts to pension benefits, better tax structures, labour-market policies and significant cuts to public-sector costs. Ireland has been the best example of structural reform that is having some positive impact, despite its record deficits. Italy has been cutting spending and deficits and now runs a significant primary surplus, unlike the United States.

Euroland’s biggest puzzle is how to develop a set of policies in the absence of a central government with political power to restructure the economy and transfer revenues to troubled economies. Both northern and southern states, including Germany, understand that it would be far better to preserve the economic union than to let it fall apart. However, voters in the northern states who have the economic strength to aid the south will not accept throwing money down a hole. They expect restructuring to take place for any support they give. This makes politics tricky. A proposal by the German Economic Council effectively would put bad government and bank debt in a pool to be held by European economies on a shared basis. Over 25 years, indebted economies would pay back the funds, as well as being obligated to economic restructuring. It is a brilliant idea, as it gives breathing space to troubled European economies. However, it does not solve the confidence problem, since politicians could renege on their promises at a later time without a credible punishment.

More Jack Mintz: U.S. worse than Europe | FP Comment | Financial Post

 

[EdwardBaiamonte]

Two options for job creation:

actually there is one!!! Get rid of the Democrats


1) Make unions illegal ( 10 million new jobs) Democrats oppose

2) make minimum wage illegal ( 5 million new jobs) Democrats oppose

3) end business taxation; especially tax incentives to off-shore jobs ( 5 million new jobs) Democrats oppose

4) make inflation illegal ( 2 million new jobs) Democrats oppose


5) make Federal debt illegal( 2 million new jobs) Democrats oppose

6) send illegal workers home(8 million new jobs) Democrats oppose

7) Pass Balanced Budget Amendment to Constitution( 3 million new jobs) Democrats oppose

8) cut pay of government workers in half( 4 million new jobs) Democrats oppose

9) Make health insurance competition legal( 6 million new jobs) Democrats oppose

10) end needless business regulations ( 2 million new jobs) Democrats oppose

11) restrict Federal spending to 15% of GNP( 2 million new jobs) Democrats oppose

12) support unlimited free trade( 2 million new jobs) Democrats oppose

13) reduced unemployment compensation, welfare, food stamps, medicaid.( 2 million new jobs) Democrats oppose

14) privatize education, social security ( 4 million new jobs) Democrats oppose

15) end payroll taxes ( 1 million new jobs) Democrats oppose

Since Democrats always oppose wisdom and common sense the only serious option is to make them illegal as the Constitution intended.

 

[EdwardBaiamonte]

EU is dealing with its fiscal crisis, but U.S. seems paralyzed...

This is true. The US can merely print money while the EU can't so is under more pressure to grow up and live within its means.

But, the EU is finding more and more ways to print money so will soon catch up to the US.

The ultimate protection is to have an iron clad Constitutional Amendment to force the Democrats to live within our means. The Democrats oppose so must be seen as the enemy.

 

[waltky]

Underwhelming - 4 times as many have given up hope of finding a job...

US economy creates 96,000 jobs but figure disappoints
7 September 2012 - The job creation figure was lower than expected

The US economy created 96,000 jobs in August, according to official figures from the Bureau of Labor Statistics. However, the figure was lower than expected and revisions to June and July data mean that 41,000 fewer jobs were created than previously reported. Analysts had expected non-farm payrolls to grow by 125,000 last month. The unemployment rate fell to 8.1%, compared with 8.3% in July, but only because more people gave up looking for work.

Weak growth

Employment increased in food services and drinking places, professional and technical services and healthcare during August, the Bureau said. Employment growth has averaged 139,000 a month in 2012, the Bureau said, compared with an average monthly gain of 153,000 in 2011. The percentage of Americans who either have a job or who are looking for one fell to 63.5%, the lowest participation rate since 1981. The weak figures could put pressure on President Barack Obama in his re-election campaign, given than rival Mitt Romney has put jobs at the centre of the national debate.

Mr Romney described the figures as "more of the same for middle-class families who are suffering through the worst economic recovery since the Great Depression". He claims his economic plan will create 12 million new jobs by the end of his first term. The figures are also seen as making it more likely that the US Federal Reserve will provide further economic stimulus measures in the form of quantitative easing, as hinted at by chairman Ben Bernanke in a speech on 31 August.

A survey released on Tuesday indicated that growth in the US manufacturing sector remained weak. The Markit Manufacturing Purchasing Managers' Index came in at 51.5 in August compared with 51.4 in July. A reading above 50 indicates growth. Figures released last week showed that the US economy grew at an annualised pace of 1.7% in the second quarter of the year.

BBC News - US economy creates 96,000 jobs but figure disappoints

See also:

Record 88,921,000 Americans ‘Not in Labor Force’—119,000 Fewer Employed in August Than July
September 7, 2012 - The number of Americans whom the U.S. Department of Labor counted as “not in the civilian labor force” in August hit a record high of 88,921,000.

The Labor Department counts a person as not in the civilian labor force if they are at least 16 years old, are not in the military or an institution such as a prison, mental hospital or nursing home, and have not actively looked for a job in the last four weeks. The department counts a person as in “the civilian labor force” if they are at least 16, are not in the military or an institution such as a prison, mental hospital or nursing home, and either do have a job or have actively looked for one in the last four weeks.

In July, there were 155,013,000 in the U.S. civilian labor force. In August that dropped to 154,645,000—meaning that on net 368,000 people simply dropped out of the labor force last month and did not even look for a job. There were also 119,000 fewer Americans employed in August than there were in July. In July, according to the Bureau of Labor Statistics, there were 142,220,000 Americans working. But, in August, there were only 142,101,000 Americans working.

Despite the fact that fewer Americans were employed in August than July, the unemployment rate ticked down from 8.3 in July to 8.1. That is because so many people dropped out of the labor force and stopped looking for work. The unemployment rate is the percentage of people in the labor force (meaning they had a job or were actively looking for one) who did not have a job.

The Bureau of Labor Statistic also reported that in August the labor force participation rate (the percentage of the people in the civilian non-institutionalized population who either had a job or were actively looking for one) dropped to a 30-year low of 63.5 percent, down from 63.7 percent in July. The last time the labor force participation rate was as low as 63.5 percent was in September 1981.

Source

 

[EdwardBaiamonte]

Very high ethical standards won't fix a socialist or liberal economy. Is there a soul on earth who disagrees??????????????

 

[oldfart]

US economy creates 96,000 jobs but figure disappoints
7 September 2012 - The job creation figure was lower than expected

The US economy created 96,000 jobs in August, according to official figures from the Bureau of Labor Statistics.

I'm sorry, but this is rediculous. The Monthly BLS employment figures come out at 8:30 Eastern time on the first Friday of every month for the previous month. They are available at U.S. Bureau of Labor Statistics. Why not read the Commissioner's Statement and the attached statistics in the actual report rather than parroting some pundit's butchered "analysis" of the numbers. I'd rather have YOUR take on the numbers than some "journalist".

BTW look at Table A-15. U-6 is a much better measure of unemployment than the "official" unemployment rate.

 

[EdwardBaiamonte]

BTW look at Table A-15. U-6 is a much better measure of unemployment than the "official" unemployment rate.

yes real unemployment under Barry is 14.7% but the liberals want to see it through as if there is something in Obamanomics that will make things better rather than worse.

Can anyone suggest what that might be???

 

[waltky]

possum thinks mebbe she oughta be worried `bout jobs in America...

Hillary: ‘Loosen Regulation’ Because ‘Too Many People Still Can’t Find Jobs’-In Tunisia, Egypt, Libya
September 28, 2012 - Speaking to a group of foreign ministers from Arab nations at the Waldorf Astoria Hotel in New York on Friday, Secretary of State Hillary Clinton expressed support for loosening regulations, particularly on small businesses, because “too many people still can’t find jobs”--in Tunisia, Egypt and Libya.

In Libya, according to an estimate published in May by the Organization for Economic Co-Operation and Development [OECD], real Gross Domestic Product is expected to grow this year at a rate of 20.1 percent—or about 15 times the 1.3 percent annualized rate at which real GDP grew in the United States in the second quarter of this year. The OECD further estimated that Libya’s real GDP would grow by another 9.5 percent next year. Libya, the OECD estimated, will have budget surplus equal to 13.6 percent of GDP this year. So far, this fiscal year, the debt of the U.S. government has increased by more than $1.2 trillion.

“In Tunisia, Egypt, and Libya, people rose up against their dictators because they were fed up with governments that served the interests of a few at the expense of everyone else,” said Clinton. “But economic and social challenges did not disappear with the dictators. Too many people still can’t find jobs, and young and growing populations crave a sense of opportunity and self-determination. “On the economic front, we are zeroing in on small and medium-sized enterprises because they are the growth engines in any economy,” Clinton said. “They create the bulk of new jobs and they spread wealth more broadly through more communities. And when people have the opportunity to unleash their talents and create something of their own, they are more invested in their communities, their countries, and their new democracies.

“So the OECD is helping emerging democracies find ways they can loosen regulations and make it easier to start or expand a small business,” she said. “Several partners are setting up funds to help small businesses gain access to loans and financing. People of the region need to see that their governments can be fair and just. So we are stepping up our efforts to return billions of dollars that were stolen or siphoned away over decades of cronyism and corruption.” As a result of its civil war, Libya went through a dramatic economic contraction in 2011. But, according to the OECD, it is bouncing back from that.

"Libya's civil war hugely disrupted the economy by cutting oil output, the primary source of revenue, to virtually zero," said an OECD analysis of Libya's economy published in May. "As a result, the economy contracted 41.8 percent in 2011 but as oil production recovers, it should expand 20.1 percent in 2012 as reconstruction takes hold, followed by a gain of 9.5 percent in 2013." According to the OECD report, Libya had a 17.1 percent budget deficit in 2011, while going through its civil war. However, according to the report, Libya ran budget surpluses in each of the six years before that and is expected to run a 13.6 percent surplus in 2012 and a 12.2 percent surplus in 2013.

Source

 

[waltky]

Granny says, "Is `cause dey's cookin' the numbers - dey's includin' the ones only workin' just part-time...

Jobs by the numbers: 7.8% unemployment but fewer working
Oct. 7, 2012 - Economists estimate there are 3.7 job applicants to every opening.

It was deja vu in a good way: Last week's U.S. unemployment report put the administration back to square one -- make that Day 1 of President Obama's tenure. When President Barack Obama took office Jan. 20, 2009, the unemployment rate was 7.8 percent -- the same percentage the Bureau of Labor Statistics reported Friday. Does that mean administration policies have been a success? Conservatives offered a loud "No," with former General Electric Co. Chief Executive Officer Jack Welch accusing the Labor Department of manipulating the statistics -- something government officials say is impossible.

A closer look at the statistics indicates although the headline number is positive and a boost to the Obama re-election campaign, job creation remains anemic and much of the reduction in the number of people searching for work can be attributed to those so discouraged they've stopped the job search, settled for part-time work or started their own home-based businesses.

The number of those in the labor force is estimated at 155.1 million, 3 million to 4 million fewer than in 2009. "The nearly entire reduction in unemployment from its 10 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults participating in the labor force -- either working or looking for work," University of Maryland economist Peter Morici said. "The most effective jobs program appears to be to convince working-age adults they don't need a job."

The Labor Department said 114,000 new jobs were added to the economy, and also revised upward the figures for August and July. Hiring is expected to increase in the fourth quarter as retailers beef up their rosters for the holiday shopping season, something that has happened in the last couple of years as well only to fall back come spring. "This is not what a real recovery looks like," GOP presidential challenger Mitt Romney said in reaction to Friday's report. "We created fewer jobs in September than in August, and fewer jobs in August than in July, and we've lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11 percent. ... "[W]hen I'm President of the United States, that unemployment rate is going to come down, not because people are giving up and dropping out of the workforce, but because we are creating more jobs. I will create jobs and get America working again."

Read more: Jobs by the numbers: 7.8% unemployment but fewer working - UPI.com

 

[waltky]

Are we bein' mislead?...

Top investor Jim Rogers has doubts on US jobs data
Wed, Oct 10, 2012 - NUMBERS GAMING?: Rogers questioned the validity of the decline in US unemployment, going so far as to suggest the administration was misleading the public

Jim Rogers, a top global investor and co-founder of the Quantum hedge fund, yesterday said he is skeptical about the reported improvement in the US job market and that the latest round of quantitative easing will not fix the US economy. The US jobless rate dropped to 7.8 percent last month, the lowest since US President Barack Obama took office in January 2009, according to a report released on Friday by the US Department of Labor.

The labor agency also revised previous numbers to show the US economy created 86,000 more jobs in July and August than first estimated. “I have learned not to take advice from the government, especially the US government, which frequently misleads its citizens,” Rogers said in a media briefing in Taipei. There is an election coming in the US and the administration wants to win, he said, adding that most other institutes believe US unemployment remains worse than the official statistics suggest.

In its quarterly update of the World Economic Outlook, a survey of the global economy, the IMF yesterday raised the US’ growth forecast slightly to 2.2 percent this year from 2 percent, but put growth in the world’s largest economy at 2.1 percent next year, down from the 2.3 percent it had predicted in July. Rogers, who is based in Singapore after selling his New York apartment in 2007, said that even if the reported drop in the US’ unemployment rate is true, it has nothing to do with the US Federal Reserve’s third round of quantitative easing that was initiated last month. “Printing money has never worked [in stimulating economic recovery] throughout history,” he said. “Sometimes it worked in the short term, but it’s never worked in the medium or long term.”

Rogers cited Zimbabwe as an example, saying that if printing money could ameliorate debt, the cash-strapped African country would be a wild economic success. By early 2009, the Zimbabwean dollar was rendered effectively worthless as the government issued bills in denominations of up to 100 trillion dollars in a bid to rein in debt problems, which instead heightened inflation and poverty. It is better to admit one’s mistakes and accept the reality of the situation so things could be improved once the worst part is over, he said.

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[Freemason9]

Very high ethical standards won't fix a socialist or liberal economy. Is there a soul on earth who disagrees??????????????

Are you just trolling?

 

[waltky]

Granny says, "Dat's right - `cause dem rich company owners dat don't wanna pay dey's fair share o' taxes is out sourcin' alla good jobs...

Gallup: Quality Jobs Harder to Come By, More Americans Say
December 20, 2012 – Fewer Americans believe now is a good time to find a quality job, compared to last month, a new Gallup poll found.

The number of Americans saying the time is right to find a quality job fell sharply in December to 19 percent – down from 24 percent in November. Three in four Americans, or 76 percent, say this is a bad time to find a quality job. In January 2007, 48 percent said it was a good time to finds a quality job – the record high for this measure.

The availability of quality jobs is considered a key to economic growth. The seasonally adjusted unemployment rate for mid-December is 7.6 percent – down 0.2 percentage points compared to November (7.8 percent).

Underemployment, which is measured without season adjustment, is 17.3 percent in mid-December about the same as November (17.2 percent). Gallup combined the percentage of unemployed with the percentage of part-time workers who are looking for full-time work to get the underemployment number. “Many Americans are settling for part-time jobs as 2012 comes to an end because they cannot find full-time work,” Gallup said.

The poll was conducted from Nov. 16 to Dec. 15 and was based on interviews conducted by landline and cell phone with about 30,000 Americans who are actively working.

Source

 

[waltky]

Granny says, "Dat's right - dey been fudgin' the employment numbers...

USDA Inflated the Number of Jobs Created by Stimulus, IG Says
December 21, 2012 - The U.S. Department of Agriculture improperly inflated the numbers of jobs created or saved by the 2009 economic stimulus, according to the agency’s own Office of Inspector General (OIG).

“[We] identified job numbers that were inflated because award recipients reported cumulative job numbers instead of the number of jobs created or saved during the quarter being reported. In other instances, job numbers were underreported,” according to an OIG audit released Dec. 13. The report claims that without accurate job figures, it is “difficult” to know whether the 2009 2009 American Recovery and Reinvestment Act was effective in creating or saving jobs. “Without accurate data about the number of jobs USDA agencies retained or created through the use of Recovery Act Funds, it is difficult to measure how effective the Department was in accomplishing a main Recovery Act objective, which was to create and retain jobs.”

Individual reporting errors were not identified because of the inadequate “analytical tools” that USDA agencies were using to corroborate job numbers, the IG said. In addition to inflating job numbers, there were also instances of underreporting. Before posting job data on Recovery.gov -- the government transparency Web site -- award recipients provide information via FederalReporting.gov, where information is verified by government agencies. As of March 31, 2011, USDA agencies had posted 4,960 awards amounting to $9.29 billion to Recovery.gov.

However, USDA agencies did not properly verify information received by award recipients, who did not always provide accurate job numbers, according to the inspector general. “OIG determined that inaccurate job numbers were reported to FederalReporting.gov because recipients did not always report correct information and USDA agencies did not adequately analyze the number of jobs that award recipients were reporting,” the report said. “Not all recipients were aware of the OMB-required methodology for calculating jobs; consequently, they made errors when they reported.”

Moreover, USDA agency representatives told the OIG that errors were overlooked and there was inadequate analysis to recognize errors. The OIG told CNSNews.com that it is “possible” that some job reporting errors occurred in other quarters as well. “It is possible: some of the recipients explained that the errors were caused due to their misunderstanding the requirements for reporting the number of jobs created,” the OIG said in a statement. “If recipients incorrectly reported the number of jobs created in the quarter ending March 31, 2011, and they used the same process to compute the number of jobs created in previous quarters, then errors would probably exist in the reporting for previous quarters.”

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[waltky]

Recovery sputters along, hiring stalls at below growth levels...

Job growth cools slightly, recovery grinds on
4 Jan.`13 WASHINGTON (Reuters) - Employers kept their pace of hiring virtually steady in December, falling short of the levels needed to bring down the country's lofty unemployment rate and pointing to lackluster economic growth in 2013.

Other data on Friday gave stronger signs of growth, with the U.S. service sector activity expanding the most in 10 months. Payrolls outside the farming sector grew 155,000 last month, the Labor Department said. That was in line with analysts' expectations and slightly below the revised gain of 161,000 reported for November. The jobless rate was steady at 7.8 percent. The report reinforces expectations of 2 percent economic growth this year, which is unlikely to quickly bring down the unemployment rate. It is also unlikely to make the U.S. Federal Reserve rethink its easy-money policies anytime soon despite growing unease by some policymakers over a bond-buying program. "The U.S. economy is just muddling through," said Tom di Galoma, managing director at Navigate Advisors in Stamford, Connecticut.

The Labor Department raised its estimate for the unemployment rate in November by a tenth of a point to 7.8 percent, citing a slight change in the labor market's seasonal swings. Most economists expect the U.S. economy will be held back by tax hikes this year as well as by weak spending by households and businesses, which are still trying to reduce their debt burdens. Friday's data nonetheless gave signals of some momentum in the labor market's recovery from the 2007-09 recession. Gains in employment were distributed broadly throughout the economy, from manufacturing and construction to health care. Also, many economists had expected December's payroll gains to be padded by one-time factors like the recovery from a mammoth storm that hit the East Coast in late October.

The government had said last month the storm had no substantial impact on the November data, and many economists expected the government on Friday to recant by revising downward payroll gains in November. Instead, the government revised November payrolls upward by 15,000. Average hourly earnings rose 0.3 percent last month, slightly more than analysts had expected, while the length of the average workweek edged higher. "This shows the economy is chugging along, with payroll gains at about the average it has been over the past year," Tom Porcelli, an economist at RBC Capital Markets in New York. Separately, the Institute for Supply Management said its services index rose to 56.1 last month, the highest since February.

POLICYMAKERS UNEASY

See also:

Global stocks tick up, dollar pares gains after U.S. payrolls
4 Jan.`13 - World shares rose and the U.S. dollar pared gains on Friday after a payrolls report scaled back expectations of a change in U.S. monetary policy.

The pace of U.S. job growth slowed slightly in December, keeping the unemployment rate steady at 7.8 percent, but details of the Labor Department's U.S. employment report also pointed to a slow but steady recovery. The stubbornly high unemployment rate was unlikely to make the Federal Reserve rethink its easy-money policies, which have been propping up the recovery. Indications that the Fed could change its easy stance on asset purchases erased gains in stocks on Thursday and pushed benchmark Treasury yields to eight-month highs. "When it comes to Fed policy, this report should keep (it)steady," said Tom Porcelli, chief U.S. economist at RBC Capital markets in New York.

He said with the payrolls data "basically where it was when the Fed decided to do more quantitative easing last month," a change in policy was not in the horizon. An index of global shares was on track to post its best week in six, and its sixth week of gains in the last seven, as a last-minute budget deal in the United States and strengthening global economic data drew investors into riskier assets. The Dow Jones industrial average <.dji> rose 16.55 points or 0.12 percent, to 13,407.91. The S&P 500 <.spx> gained 3.54 points or 0.24 percent, to 1,462.91. The Nasdaq Composite <.ixic> added 0.87 points or 0.03 percent, to 3,101.43.

An MSCI index of global shares <.miwd00000pus> rose 0.2 percent and was up nearly 3 percent for the week, making it its best since late November. The U.S. dollar pared gains versus the euro and came off a near 2-1/2 year high against the yen after the jobs data bolstered expectations the Fed will not tighten monetary policy anytime soon. The data "will if anything push out the date for an end to QE, represents solidly risk-positive numbers and will lead to some minor squeeze on recent U.S. dollar longs," said Alan Ruskin, head of G10 FX strategy at Deutsche Bank in New York.

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