Men Working

September 15, 2013
Men Working by simonstudionyc
Men Working, a photo by simonstudionyc on Flickr.



Allen West “Our economy is shrinking and yet we’re still being fed a story that things are getting better”

February 1, 2013
(Allen West) This week the President dissolved his jobs council (which only met once in 2012) while another 169k people disappeared from the workforce. The “official” unemployment rate is 7.9% but there are now 89 million Americans no longer in the workforce. Black unemployment is 13.8%, it’s 9.7% for Hispanics and 23.4% for teens. Real unemployment (based on U6) is over 14%. Our economy is shrinking and yet we’re still being fed a story that things are getting better- only if you measure it by how many people are dependent on the government, I suppose. I’m more worried about what happens if America does do a short term recovery. a spike in petrol supply and fracking growth could create another bubble. Should that happen Obama could take credit for events that he was an impediment to. (Sultan Knish)The economy contracted by .1% and the unemployment rate has risen by 1%, all in defiance of the official projections. Job creation numbers are 40,000 off what they were supposed to be. 159,000 jobs were added, but 169,000 workers left the labor force.Consumer spending only rose .2 percent in December, at a time when consumers should have been doing a lot of their holiday shopping. The dollar fell against the euro and while Obama’s pals on Wall Street are doing well, no one else is. The Media and Immigration claims (THE MEDIA ACCORDING TO KNISH)Meanwhile we’re not supposed to pay attention to any of this, as the media keeps finding ways to explain it all away as part of the recovery. The media is claiming that Obama’s amnesty program for illegal aliens will fix the economy… because dumping 11 million unskilled workers into a marketplace with rising unemployment is a sure fix. And once we have 11 percent unemployment and millions more Mexicans on welfare, then the recovery really will be here.

Off the fiscal cliff and into the great abyss

November 12, 2012

(FOX) Negotiations to avert the Fiscal Cliff offer great political drama, but they won’t solve Washington’s budget woes and may cast the nation into another recession or worse.
The Budget Act of 2011 requires the president and Congress to agree on a nine-year $1.2 trillion deficit reduction program, or cuts in annual defense and non-entitlement outlays each equal to 54.7 billion trigger on January 1. Simultaneously, the Bush Tax cuts, the 2 percentage point payroll tax holiday, and other assorted programs expire.
Altogether, $136 billion in annual spending reductions and $532 billion in additional taxes could trigger cataclysmic consequences for the economy. Unemployment would rocket past 15 percent, state government finances would collapse, homeowners would default on mortgages, and hundreds of banks would fail.
To avoid calamity, President Obama and House Republicans will likely agree to raise taxes on high income Americans by $100 to $150 billion and curb spending by an equal amount. However, those efforts will prove too little, and yet, the economy may still skid into recession—depriving the federal government of tax revenues and further pushing up the budget gap.
The federal deficit exceeds $1 trillion dollars—up from $161 billion in 2007, the last year before the financial collapse. Spending is up some $1 trillion, as outlays for and other entitlements have increased by an amount equal to the entire 2013 defense budget.
By the end of the decade, runaway entitlement spending will require shutting down the military or crippling many other domestic spending programs to head off ballooning deficits.
With Americans living longer, the only reasonable solution is to raise the Social Security retirement age to 70, and pattern US health care reforms after other national systems that better contain costs.
The Germans and Dutch spend one-third less on health care than the United States, because their governments more aggressively regulate prices, better ration care, and spend less on law suits.
Democrats, hamstrung by unions, are loath to require Americans to work longer, and are too beholden to tort lawyers and the medical establishment for campaign support—hence, ObamaCare just throws more money into a broken system.
Republicans refuse to admit more competition—we already have plenty of it among providers, drug and device manufacturers and insurance companies—won’t adequately slow rocketing health care costs.
Over the next decade, without a significantly higher retirement age, effective price controls in health care and torts reform, federal spending and the national debt will jet into the stratosphere. Mounting interest payments, investor reluctance to buy US Treasurys, and consequent draconian cuts in spending will thrust the United States into the crisis now gripping Greece and Spain.
More immediately, even modest tax increases and spending cuts threaten a second recession, because President Obama and Congress failed to address dysfunctions that created the bubble and bust of the 2000s and make the economy perilously dependent on deficit spending.
From 2001 to 2005, the trade deficit doubled to more than $700 billion, thanks to subsidized imports from China, restrictions on US sales into the Middle Kingdom and rising oil prices. This resulting loss of demand for US-made goods and services should have instigated a recession; however, Chinese and Middle East oil exporters stepped up purchases of US securities, and those helped finance questionable mortgages, car loans and credit card debt. Americans spent more than they earned and the boom continued into 2007. When homeowners and other borrowers could no longer service their debts, defaults and bankruptcies resulted and the economy crashed.
A huge trade deficit with China and on oil continues, but now the federal government is doing the extra spending and borrowing for us. If budget negotiations slice $200 to $300 billion off the deficit, as is likely, GDP will contract $350 to 500 billion and unemployment will rise above 10 percent.
President Obama and House Republicans indicate no interest in genuinely confronting Beijing to force a more equitable trading relationship with the Middle Kingdom.
Slashing oil imports requires the President to permit more drilling in the Gulf, off the Atlantic and Pacific coasts and in Alaska, and for Republicans to embrace alternative energy sources and more aggressive conservation measures.
Neither seems likely.
All told, absent major changes in trade and energy policies to boost domestic demand and growth, budget deficit reduction is not possible without another long, hard recession. And absent genuine deficit reduction, the country is headed for economic chaos by the end of the decade.

Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and widely published columnist. Follow him on Twitter @PMorici1

Dismal job market pushes Dow into 275-point plunge

June 2, 2012

(syracuse)The stock market suffered its worst day of the year Friday after a surprisingly weak report about hiring and employment cast a pall of gloom over the U.S. economy. The Dow Jones Industrial Average plunged 275 points(MORE)

One Third of Americans is unemployed! 87,897,000 Americans not in the labor force.

April 7, 2012
Ninety thousand unemployed Americans and the debt equivalent of operating the United States for four years. Two thirds of that Obama’s doing and few accomplishments or military victories. It is almost laughable that anyone would need to justify electing a Republican. It was the Democrats who signed the paperwork executing the war in Iraq and they refused to hold responsibility for it and instead spent a decade blaming their opposition for their own actions. It’s time for a real Change. (MFS Other) One in Third of Americans is unemployed!87,897,000 Americans not in the labor force.(Breitbart).By Winton Hall.Amid disappointing unemployment numbers that fell 80,000 jobs short of projections, another number is raising eyebrows: the number of Americans not in the labor force has hit a record high 87,897,000. This figure explains why overall unemployment dropped from 8.3% to 8.2%, as the Department of Labor’s unemployment figure does not include people who have given up hope and are not actively seeking employment. When the number of individuals who have stopped looking for a job and/or who are working part-time but desire full-time employment is included–a figure known as the “underemployment rate”–real unemployment stands at 19.1%.The United States will enter 2012 with a population of roughly 312.8 million people (or exactly 312,780,968 people, if you want to be pedantic), according to the U.S. Census Bureau’s end-of-2011 estimate.The number of people under 18 stood at 73.9 million on July 1, 2011.Read the full story here.

The Worst Economic Recovery Since The Great Depression

January 15, 2012

FDR’s Economic Policies FAILED. But Don’t Take My Word For It, Listen To Obama’s TOP Economic Adviser

( Unemployment actually rose after June, 2009, and did not fall back down below that level until 18 months later in December, 2010. Instead of a recovery, America has suffered the longest period of unemployment near 9% or above since the Great Depression, under President Obama’s public policy malpractice. Even today, 49 months after the recession started, the U6 unemployment rate counting the unemployed, underemployed and discouraged workers is still 15.2%. And that doesn’t include all the workers who have fled the workforce under Obama’s economic oppression.

The unemployment rate with the full measure of discouraged workers is reported at as about 23%, which is depression level unemployment.

The Male Sex Has Become like Economic Jews

September 17, 2011
While it is true that men are more likely to reach the highest levels of income, it is also true that men as a gender these days are discriminated against and have a very hard time staying employed at all. There is a historic parallel. Ironically many feminists have compared opportunities for Jews as being similar to opportunities for women, but the comparison does not work because structurally woman have nothing comparable in experience to Jews. On the other hand the male gender is very much like the Jewish experience. People look at Jews and say two contradictions: Jews are successful and also they hate the Jews. How can this happen that Jews as a group can both be statistically triumphant in their success and also experience hardship on the way up? Look no further then the male sex for the answer. Men have a problem staying employed. Multiply that with a mancession and you see a fascinating dichotomy. Men are both the highest wage earners and the sex that is most likely to be unemployed… very much like Jews (a patriarchal belief system). America’s ability to end our economic woes and America’s abuse of Jews and Men are tied together because they share an experience. Women can get a job easily due to pink collar growth in the service sector, but men are on the streets. A Jew has a very hard time getting a job, but then a Jew is statistically more likely to get a top position. Instead of following the Barbara Ehrenreich formula and attacking Wallmart for hiring too many men to top positions or the Ron Paul formula of pointing out all the Jews who come out of Goldman Sachs, What really needs to happen is there needs to be a concerted effort to fight discrimination on the ground level. If a man or a Jew can not get a peon job at a cash register or trying data entry then these people will take actions to educated themselves so that they do not face more hardship. And perhaps this is why there is so much Antisemitism in progressive forums because their solution is always in blaming success when in fact the hatred of the winners is what makes the winners. Instead of looking in envy at a circumcised penis it is time for women and the progressives to allow men in their circles. The women, femmes and those who fit in to societies philosophical norm have created their own pain by not letting us in the door.