This is not as far fetched as you would think! At some point in the near future no one will lend the Federal government any more money. In 8 full years Bush added 4.9 Trillion to the debt. In 5 years and 8 months Obama added 7.2 Trillion to the national debt. On January 2001 the national debt was only 54.3% of the GDP today it is over 100% and climbing — we have been living on borrowed money since 9/11 and at some point those that have lent the money will want to be paid back!
Category Economic Subjects
Obama’s Unemployment Rate Is 5.9% ~ But 5.9% Of What?: 29% Of U.S. Labor Population Out Of Work And Out Of Labor Force!
The following re-post shows the facts and figures of what is happening in our counter as Obama and his appointed minions “Fundamentally Transform” the country into their vision of what it should be. The next result of 6 years of this has been to shift large percentages of the middle class out of the work force and its worse than what is presented here as the BLS reports do not count self employed or military jobs both of which tend to the higher side in the middle class.
The bottom line is that there are fewer and fewer jobs in the middle class which as this post suggests those people have either gone on welfare or taken early retirement. That means that few and fewer “workers” that pay taxes are going to be forced to take care of more and more people that are not working.Using BLS figures, as of last month, only 46.0% of the population of the united states was holding a job. 6 years ago that was 48.5% of the population which means that we are short at least 8.0 million jobs right now.
Proof that USA is less free under Obama
Although this is all true the sad thing is that all the damage has not yet been felt here. It takes time to get all the laws , rules and directives that have been started up to full speed. Worse since no government never volunteers to get smaller this will never be changed. I would be willing to be that if the Republicans got the Senate this year and the presidency in 2016 that they would not remove the Affordable Health Care Act.
3 graphs tell the story about the US economy, hidden amidst the noise of the jobs report
This is OK but its actually worse if you add in the Farm Self Employed and the Military which they do not count.
Summary: We’ve reached a critical point in this business cycle. We enjoyed the years of fiscal and monetary stimulus; now comes the dismount. Only after the stimulus ends will we learn the true strength of our economy. Today we look at the monthly jobs report, perhaps the single most important indicator. Three graphs tell the story, cutting through the fog of confusion spread by the news media.
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Contents
- Why we’re ignorant and confused
- The weak good news: more employed
- The bad news: percent employed
- More bad news: wages
- For More Information
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(1) Why we’re ignorant and confused
Reports about the monthly jobs report illustrate why we’re confused and so often ignorant about important aspects of our lives.
- We get numbers without context. Raw numbers by themselves tell us little; the percent change has meaning. Also useful are descriptions of the trend and adjustments for inflation (vital when looking at…
View original post 571 more words
Europe & China Start Direct Trading In Euros & Yuan As De-Dollarization Expands
More good new … almost as bad as Ebola!
Breaking Russia’s Energy Stranglehold
The EU is in a bad spot of energy and Putin lets hope it works out for the EU!
Europe cannot afford to have its foreign and domestic policies dictated by Putin’s blackmail.
By Paul Driessen ~
European Union nations want to impose tougher economic sanctions on Russia for invading Ukraine and providing the missiles that shot down Malaysia Airlines Flight MH17. However, they are worried about biting the hand that feeds them – with the natural gas that fuels much of its economy.
Russia is the world’s second-biggest natural gas producer and third-biggest oil producer, so it can inflict tremendous pressure and damage on its neighbors without firing a shot. The 28 EU nations as a whole depend on Russia for one-third of their oil and gas. However, Estonia, Finland, Latvia and Lithuania get 100% of their natural gas from Russian President Vladimir Putin. Six other European countries get more than half of their gas from the powerful Russian Bear: Czech Republic (57%), Poland (59%), Ukraine (60%), Hungary…
View original post 1,274 more words
Fast food protesters to be hit with massive job losses when Obama grants amnesty in November
As most any competent economist will tell you minimum wages do nothing for the beginning or low end workers. If yo raise the $8 worker to $15 then all those between $8 and $15 will demand increases and those from $15 to where every (especially with union contracts) will also what a raise. The bottom line is within a few years the purchasing power of $15 will be the same as it was before at $8 so there is no gain. Also with cheaper and cheaper tech the cost benefit from automation gets better and better The current order takers only push buttons and make change. Flip the terminals around and let the customers enter there own orders. How many stores today have self checkout lanes so the concept is not new and at some pay level that is what will happen.
De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan
Re-Posted from ZEROHEDGE
Submitted by Tyler Durden on 09/07/2014 17:58 -0400
It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to ‘de-dollarize’; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina’s central banks have agreed a multi-billion dollar currency swap operation “to bolster Argentina’s foreign reserves” or “pay for Chinese imports with Yuan,” as Argentina’s USD reserves dwindle. In addition, Argentina claims China supports the nation’s plans in the defaulted bondholder dispute.
Having met ‘on the sidelines’ in Basel, Switzerland in July, Argentine and Chinese central banks agreed to a currency swap equivalent to $11b that Cabinet Chief Jorge Capitanich said could be used to stabilize reserves.. (as Reuters reports)
Argentina, which defaulted on its debt in July, will receive the first tranche of a multi-billion dollar currency swap operation with China’s central bank before the end of this year, the South American country’s La Nacion newspaper reported on Sunday.The swap will allow Argentina to bolster its foreign reserves or pay for Chinese imports with the yuan currency at a time weak export revenues and an ailing currency have put the Latin American nation’s foreign reserves under intense pressure.
La Nacion said Argentina would receive yuan worth $1 billion by the end of 2014, the first payment of a loan worth a total $11 billion signed by Argentina’s President Cristina Fernandez and her Chinese counterpart in July.
In addition, Bloomberg reports
People’s Bank of China Governor Zhou Xiaochuan expressed his support for Argentina in its legal fight against holdout bondholders
Labor Participation Rate Drops To Lowest Since 1978; People Not In Labor Force Rise To Record 92.3 Million
Re-Post from ZEROHEDGE
Submitted by Tyler Durden on 09/05/2014 09:03 -0400
It is almost as if the Fed warned us this would happen. In a note released yesterday, a Fed working paper titled “Labor Force Participation: Recent Developments and Future Prospects“, looked at the US labor force and concluded that “while we see some of the current low level of the participation rate as indicative of labor market slack, we do not expect the participation rate to show a substantial increase from current levels as labor market conditions continue to improve.” But don’t blame it on the greatest recession/depression since 1929: “our overall assessment is that much – but not all – of the decline in the labor force participation rate since 2007 is structural in nature.”
Well that’s very odd, because it was only two months ago that the Census wrote the following: “Many older workers managed to stay employed during the recession; in fact, the population in age groups 65 and over were the only ones not to see a decline in the employment share from 2005 to 2010 (Figure 3-25)… Remaining employed and delaying retirement was one way of lessening the impact of the stock market decline and subsequent loss in retirement savings.”
So yeah… sounds like most of the decline in the participation rate is not structural in nature and is merely a response to what everyone but the 1% sees as the biggest – and ongoing – economic devastation perhaps in history, papered over conveniently for the 1% with trillions in liquidity injections.
In any event, no matter how you spin it, today’s data was bad: because not only did the headline data disappoint, the labor force participation rate dropped once again to 62.8% from 62.9%, matching the lowest since 1978, as a result of the people not in labor force rising once again, and hitting a new all time high record of 92,269,000, up 268,000 from the prior month. In fact, in August the number of people not in the labor force increased by nearly double the number of people who found jobs, which as we reported previously, was only 142K.
Putting it another way, since the start of the depression in December 2007, the number of people not in the labor force has increased by 13.0 million. The number of jobs added: 768,000.
Average:
LEADING KEYNESIAN ECONOMIST USES THE ‘D’ WORD
These numbers are real I track them every month and the “D” word is coming and soon.
Centinel2012 