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Yeah I have my doubts that this economy will recover, too, given we've done nothing real about the root cause of this FAKE debt ridden economy.
Exactly.
When the FED opened the floodgates on borrowing for homes, (in fact when the FED increases the money supply inapproprately for ANY reason) they start encouraging that j-curve.
I usually refer to this phenomena as ASSET INFLATION sdince the capital class truly has NO CHJOICE but to attempt to protect the value of their captial by investing it in PRODUCTIVE assets.
Sadly, the working classes, now unable to keep up the level of purchasing necessary for them to make those productive assets return a reasonable ROI to those investments, means that the asset prices are inflated beyond their real worth over time.
When the capital class has more money to invest, but the consumings classes cannot meet the expections of purchasing, this is an INEVITABLE outcome .
I'm not an expert but I suspect right now the stock market (currently the best investment opportunity left to the capital class) is going through still another BUBBLE.
Personally right now I think that a world wide economic meltdown is a greater threat to civilization than either WAR or NATURAL DISASTER.
We're been fooling ourselves if we think that the mess left over from the 2007-2008 meltdown is past.
By reconsituting the banking system, by foisting off their toic debts to the public sector, they have keep the system going, to be true.
But by failing to change the system, all we've done is kick the GREAT BALANCE SHEET DEPRESSION down the road.
But by failing to change the system, all we've done is kick the GREAT BALANCE SHEET DEPRESSION down the road.
The number Americans not in the labor force continued to drop, to 94,190,000 in February, 176,000 fewer than in January and well below the record of 95,102,000 set in December 2016. And there’s more good news in the February jobs report, the first one to cover a full month of the Trump presidency: According to BLS, the economy added 235,000 jobs last month and the February unemployment rate dropped a tenth of a point to 4.7 percent. The 94,190,000 million people counted as not participating in the labor force in February includes millions of baby boomer retirees, students, the disabled, homemakers and others who do not work for various reasons.
But this number is important because many of those not in the labor force receive Social Security, Medicare, Medicaid, health insurance subsidies and other entitlements that come partly from the taxes paid by those who do work. In February, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 254,246,000. Of those, 160,056,000 participated in the labor force by either holding a job or actively seeking one. The 160,056,000 who participated in the labor force equaled 63 percent of the 254,246,000 civilian noninstitutionalized population. (The participation rate dropped to a 38-year low of 62.4 percent on Obama's watch, in September 2015.)
BLS says in February, among the major worker groups, the unemployment rate decreased for Whites to 4.1 percent, while the jobless rates for adult men (4.3 percent), adult women (4.3 percent), teenagers (15.0 percent), Blacks (8.1 percent), Asians (3.4 percent), and Hispanics (5.6 percent) showed little or no change. The Labor Department says 5,597,000 people “currently want a job.” In his speech to the nation two weeks ago, President Trump said he will ask Congress to launch a “national rebuilding,” with a trillion-dollar infrastructure program that will create “millions of new jobs.” He also noted that since his election, “Ford, Fiat-Chrysler, General Motors, Sprint, Softbank, Lockheed, Intel, Walmart and many others have announced that they will invest billions and billions of dollars in the United States, and will create tens of thousands of new American jobs.”
152,528,000: Record Number of Employed in February; Participation Rate Rises
So far in 2017 (January and February), the U.S. has gained 39,000 manufacturing jobs and 25,000 government jobs. Nonetheless, in February, government jobs in the United States outnumbered manufacturing jobs by 9,942,000. That is down from is down from the 9,956,000 margin that government jobs had over manufacturing jobs in December 2016, according to the BLS numbers.
Over the past year--from February 2016 to February 2017--the United States added 7,000 manufacturing jobs, with employment in manufacturing during that time span rising from 12,375,000 to 12,382,000. From February 2016 to February 2017, the United States gained 194,000 government jobs, with employment in government during that time span rising from 22,130,000 to 22,324,000.
The number of manufacturing jobs in the United States peaked at 19,533,000 in June 1979. Since then, it has declined by 7,151,000 to the 12,382,000 as of this February, according to the BLS numbers. During the same time frame—from June 1979 to February 2017—the number of government jobs grew from 16,045,000 to the current 22,324,000, an increase of 6,279,000.
U.S. Adds 28,000 Jobs in Manufacturing--and 8,000 in Government
That is about $6,733,300,000 more than the $604,584,700,000 in individual income taxes (in constant 2017 dollars) that the federal government collected through the first five months of fiscal 2016. Despite collecting a record amount in individual income taxes, the Treasury still ran a $348,984,000,000 deficit in the first five months of this fiscal year. Social Security and other payroll taxes also increased in the first five months of FY17 compared to the first five months of FY16. In Oct.-Feb. of last fiscal year, the Treasury collected $433,161,000,000 in payroll taxes (in constant 2017 dollars). In Oct.-Feb, of this fiscal year, it collected $451,445,000,000. That is an increase of about $18,284,000,000 in payroll taxes.
However, despite the increases in revenues from the individual income tax and payroll taxes over the first five months of fiscal 2017, overall federal tax collections were down slightly during the Oct.-Feb. period of FY17 compared to FY16. In the first five months of FY6, the federal government collected $1,263,101,350,000 in total tax revenues (in constant 2017 dollars). In the first five months of this fiscal year, it collected $1,256,553,000,000. That is a drop of about $6,548,350,000. Revenues from corporate income taxes, excise taxes, and customs duties all declined in the first five months of FY17 compared to FY16. The federal government collected approximately $89,884,230,000 corporate income taxes (in constant 2017 dollars) in the first five months of FY16. In the first five months of fiscal 2017, it has collected only approximately $87,355,000,000. That is a decline of approximately $2,529,230,000.
The federal government collected approximately $33,037,280,000 in excise taxes during the Oct.-Feb. period of FY16. This fiscal year it has collected only approximately $29,854,000,000. That is a decline of about $3,183,280,000. The federal government collected approximately $14,974,000,000 in customs duties in the first five months of FY16. In FY17, it has collected $14,269,000,000. That is a decline of about $705,000,000. Estate and gift taxes have also declined slightly. In the first five months of FY16, the Treasury collected $8,724,750,000 in these taxes (in constant 2017 dollars). This year, the Treasury has collected only $8,315,000,000 in estate and gift taxes. That is a drop of $409,750,000.
The Treasury is also reporting a decline in what it categorizes as “Miscellaneous Receipts.” In the first five months of FY16, the federal government collected $78,894,070,000 in these taxes (in constant 2017 dollars). So far this year, it has collected $53,997,000,000. That is a decline of $24,897,070,000. While collecting $1,256,553,000,000 in total revenue from October through February, the federal government spent $1,605,537,000,000—and, thus, ran a $348,984,000,000 deficit. Even though, as CNSNews.com reported today, there were a record 152,528,000 people employed in the United States in February, the $1,256,553,000,000 in taxes the federal government collected in the first five months of this fiscal year worked out to approximately $8,238 per worker. The $348,984,000,000 deficit worked out to approximately $2,288 per worker.
$611,318,000,000: Individual Income Taxes Set Record Through February
the moment interest rates make a significant rise, they will begin to burst.
a) basic math 101. Let me explain:
b) if interest rates rise to 1%, .gov must pay 200 Billion in interest on the debt every month.
c) I hope this elementary lesson has proved valuable to you. If it's too long and convoluted, I'll try to dumb it down into a single baseless assertion.
What are you talking about? All debt functions on a monthly basis.
