How is it that the rate could drop by .3% while the actual number of jobs created came in line with expectations at 114k? Prior months revisions of +86k jobs added helpsbut the 3 month average of approximately +145k jobs added is barely enough to keep the overall level of unemployment flat.
Additionally, how is it that the rate could drop by .3% while the more broadly defined U-6 rate of unemployment remained unchanged at the elevated level of 14.7%?
The key to the change in the unemployment rate is the fact that there were a lot of people who reportedly found part-time work. Bloomberg highlights this fact in writing,
Some 582,000 Americans took part- time positions because of slack business
Part-time positions can influence a report to this magnitude? How convenient. At this rate, we could still have the worst economy since the Great Depression and a 5% rate of unemployment. We would also be ridiculed as a nation of liars and fakers.(please see my other commentary this morning).
Friday, October 05, 2012
Just what happened on that unemployment report?
It was awesome, if the ultimate goal is loading up workers with part time employment...........
Who wants my absentee ballot?
I just got my absentee ballot in the mail.
I've decided that I'm willing to give that ballot to any democrat/liberal/"progressive" who can answer the following question for me.
Now mind you this ballot is worth a lot of money. I'm in Ohio, a battleground state. Both presidential candidates are spending millions to get this vote from me.
But it can be yours if you can answer this question in an acceptable fashion to me.
If democratic/liberal/"progressive" policies are so wonderful, why is Detroit such a shit hole?
After all, there's never been a republican run that city since 1952. Obama carried Detroit something like 92-8. So democrats can take total credit for the shape Detroit is in.
Seriously, under any objective measurement (unemployment, home ownership, crime, schools, tax burdens, standard of living) , Detroit is a cesspool.
None the less, let's say you don't like Detroit for some reason. I'll even offer the following cities as substitutes.
1) San Bernadino, CA
2) Modesto, CA
3) Stockton, CA
4) Harrisburg, PA
5) Camden NJ
What do these cities have in common? They are all in municipal bankruptcy and you can't find a republican in their city governments with a search warrant and pack of blood hounds.
But hey, since I'm feeling generous. If cities don't float your boat, I'll let you substitute a state like Illinois or California, both of whom are going under with billions of dollars of unfunded pension liabilities.
But if that doesn't work for you, hell let's thrown in a country or two. I mean, what democrat/liberal/progressive doesn't want to see our country transformed into some Eurotopia?
So substitute one of the PIIGS (Portugal, Italy, Ireland, Greece or Spain) and tell me how all those "progressive" policies are working over there.I know it will be hard to find something in the news with all the riots and such going on but give it a shot.
The fact is, you show me a collapsing, bankrupt shit hole of a society and I'll show you an area run by democrats/liberals/"progressives".
But hey, isn't a free absentee ballot for the candidate of your choice and the ability to prove me wrong worth the shot.
I've decided that I'm willing to give that ballot to any democrat/liberal/"progressive" who can answer the following question for me.
Now mind you this ballot is worth a lot of money. I'm in Ohio, a battleground state. Both presidential candidates are spending millions to get this vote from me.
But it can be yours if you can answer this question in an acceptable fashion to me.
If democratic/liberal/"progressive" policies are so wonderful, why is Detroit such a shit hole?
After all, there's never been a republican run that city since 1952. Obama carried Detroit something like 92-8. So democrats can take total credit for the shape Detroit is in.
Seriously, under any objective measurement (unemployment, home ownership, crime, schools, tax burdens, standard of living) , Detroit is a cesspool.
None the less, let's say you don't like Detroit for some reason. I'll even offer the following cities as substitutes.
1) San Bernadino, CA
2) Modesto, CA
3) Stockton, CA
4) Harrisburg, PA
5) Camden NJ
What do these cities have in common? They are all in municipal bankruptcy and you can't find a republican in their city governments with a search warrant and pack of blood hounds.
But hey, since I'm feeling generous. If cities don't float your boat, I'll let you substitute a state like Illinois or California, both of whom are going under with billions of dollars of unfunded pension liabilities.
But if that doesn't work for you, hell let's thrown in a country or two. I mean, what democrat/liberal/progressive doesn't want to see our country transformed into some Eurotopia?
So substitute one of the PIIGS (Portugal, Italy, Ireland, Greece or Spain) and tell me how all those "progressive" policies are working over there.I know it will be hard to find something in the news with all the riots and such going on but give it a shot.
The fact is, you show me a collapsing, bankrupt shit hole of a society and I'll show you an area run by democrats/liberals/"progressives".
But hey, isn't a free absentee ballot for the candidate of your choice and the ability to prove me wrong worth the shot.
Life in "Progress" State - California edition
Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.More.........
Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular.
The gasoline shortage “feels like a hurricane to me, but it’s the West Coast,” Jeff Cole, Costco’s vice president of gasoline, said by telephone yesterday. “We’re obviously extremely disheartened that we are unable to do this, and we’re pulling fuel from all corners of California to fix this.”
Spot gasoline in Los Angeles has surged $1 a gallon this week to a record $1.45 a gallon premium versus gasoline futures traded on the New York Mercantile Exchange, data compiled by Bloomberg show. That’s the highest level for the fuel since at least November 2007, when Bloomberg began publishing prices there. On an outright basis, the fuel has jumped to $4.3929 a gallon.
A true bully
Have you ever noticed the tendency of Obama to go after enemies when they don't have the ability to respond.
Take the State of the Union, when he ripped the Supreme Court as they sat in the audience.
Or the ripping of Paul Ryan when he sat in the audience.
So when he has a chance to confront a challenger in the debate.... man to man.........he takes a pass.
But he seems to have plenty of balls the next day when the Rominator isn't there to call him out........
Take the State of the Union, when he ripped the Supreme Court as they sat in the audience.
Or the ripping of Paul Ryan when he sat in the audience.
So when he has a chance to confront a challenger in the debate.... man to man.........he takes a pass.
But he seems to have plenty of balls the next day when the Rominator isn't there to call him out........
He cares about the middle class
Tell that to non union Delphi pensioners...............
Read the rest..........
House Ways and Means Committee Chairman Dave Camp, R-MI, says a review of more than 5,000 executive branch documents strongly suggests that the administration hasn't been truthful with Congress about a key decision in President Obama's bailout of General Motors.
At the heart of the bailout was a decision that it would include GM "topping off" the pensions of non-salaried workers who were members of the United Auto Workers, but not those of salaried, non-union employees of the automakers former Delphi parts supplier. Nearly 20,000 of the salaried employees lost as much as 70 percent of their pensions as a result of that decision.
Obama administration officials claimed the decision was made entirely without input from either the White House or the Treasury Department. But the documents provided in response to Camp's August request appear to undercut the administration's claim. Among other things, according to Camp, the documents make clear that:
Read the rest..........
Thursday, October 04, 2012
What's wrong with America
John Stossel with a must read piece on dependency in this country............
You have to read the rest here...........
"There are no jobs!" That is what people told me outside a government "jobs center" in New York City.
To check this out, I sent four researchers around the area. They quickly found 40 job openings. Twenty-four were entry-level positions. One restaurant owner told me he would hire 12 people if workers would just apply.
It made me wonder what my government does in buildings called "job centers." So I asked a college intern, Zoelle Mallenbaum, to find out. Here's what she found:
"First I went to the Manhattan Jobs Center and asked, "Can I get help finding a job?" They told me they don't do that. 'We sign people up for food stamps.' I tried another jobs center. They told me to enroll for unemployment benefits."
So the "jobs" centers help people get handouts. Neither center suggested people try the 40 job openings in the neighborhood.
My intern persisted:
"I explained that I didn't want handouts; I wanted a job. I was told to go to 'WorkForce1,' a New York City program. At WorkForce1, the receptionist told me that she couldn't help me since I didn't have a college degree. She directed me to another center in Harlem. In Harlem, I was told that before I could get help, I had to come back for an 8:30 a.m. 'training session.'"
You have to read the rest here...........
My take
I don't watch debates. If I want people to lie to me, I'll call my ex wife. None the less, I enjoy reading and hearing other people's take on the debates.
One of my clients who is a very discouraged republican told me he really felt that watching Romney was like watching an old Reagan clip.
Many of the writers have ripped Obama for his flat finish.
Let me offer this take on Obama. He's used to reading prepared text off of teleprompters in friendly environments. As a narcissist, he thrives on the adulation. He's had how many press conferences in the past four years? Few. His toughest media questions have come from Joy Behar?
The only tough questions he's received in the past four years has been from Univision and you know how that went.
And here he is wondering why Jim Lehrer is not genuflecting and protecting him from the big bad Rominator.
As I've said for years, liberals do their candidate no favors by being repeatedly soft on them.
I've got a bunch of nieces and nephews in the 1-10 year old range. Many of these kids have been told that they are wonderful from the time that they been able to hear. You should watch the behavior of these kids when confronted with adversity for the first time.
The only difference between these kids and Obama is that Obama knows he can't cry anymore.
One of my clients who is a very discouraged republican told me he really felt that watching Romney was like watching an old Reagan clip.
Many of the writers have ripped Obama for his flat finish.
Let me offer this take on Obama. He's used to reading prepared text off of teleprompters in friendly environments. As a narcissist, he thrives on the adulation. He's had how many press conferences in the past four years? Few. His toughest media questions have come from Joy Behar?
The only tough questions he's received in the past four years has been from Univision and you know how that went.
And here he is wondering why Jim Lehrer is not genuflecting and protecting him from the big bad Rominator.
As I've said for years, liberals do their candidate no favors by being repeatedly soft on them.
I've got a bunch of nieces and nephews in the 1-10 year old range. Many of these kids have been told that they are wonderful from the time that they been able to hear. You should watch the behavior of these kids when confronted with adversity for the first time.
The only difference between these kids and Obama is that Obama knows he can't cry anymore.
12 reasons to vote democratic
12 REASONS TO VOTE DEMOCRAT
1. I voted Democrat because I love the fact that I can now marry whatever I want. I've decided to marry my German Shepherd.
2. I voted Democrat because I believe oil companies' profits of 4% on a gallon of gas are obscene but the Government taxing the same gallon of gas at 15% isn't.
3. I voted Democrat because I believe the Government will do a better job of spending the money I earn than I would.
4. I voted Democrat because Freedom of Speech is fine as long as only white Christians are offended by it.
5. I voted Democrat because I'm way too irresponsible to own a gun and I know that my local police are all I need to protect me from murderers and thieves.
6. I voted Democrat because I believe that people who can't tell us if it will rain on Friday can tell us that the polar ice caps will melt away in 10 years if I don't start driving a Prius.
7. I voted Democrat because I'm not concerned about millions of babies being aborted so long as we keep all death row inmates alive.
8. I voted Democrat because I think illegal aliens have a right to free health care, education and Social Security benefits, and we should take away the Social Security from some who paid into it.
9. I voted Democrat because I believe that businesses should not be allowed to make profits for themselves. They need to break even and give the rest away to the government for redistribution as the Democrats see fit.
10. I voted Democrat because I believe liberal Judges need to rewrite the Constitution every few days to suit some fringe kooks who would never get their agendas past the voters.
11. I voted Democrat because I think that it's better to pay billions for oil from people who hate us but not drill our own because it might upset some endangered beetle, gopher or fish.
12. I voted Democrat because my head is so firmly planted up my ass, it's unlikely that I'll ever have another point of view.
1. I voted Democrat because I love the fact that I can now marry whatever I want. I've decided to marry my German Shepherd.
2. I voted Democrat because I believe oil companies' profits of 4% on a gallon of gas are obscene but the Government taxing the same gallon of gas at 15% isn't.
3. I voted Democrat because I believe the Government will do a better job of spending the money I earn than I would.
4. I voted Democrat because Freedom of Speech is fine as long as only white Christians are offended by it.
5. I voted Democrat because I'm way too irresponsible to own a gun and I know that my local police are all I need to protect me from murderers and thieves.
6. I voted Democrat because I believe that people who can't tell us if it will rain on Friday can tell us that the polar ice caps will melt away in 10 years if I don't start driving a Prius.
7. I voted Democrat because I'm not concerned about millions of babies being aborted so long as we keep all death row inmates alive.
8. I voted Democrat because I think illegal aliens have a right to free health care, education and Social Security benefits, and we should take away the Social Security from some who paid into it.
9. I voted Democrat because I believe that businesses should not be allowed to make profits for themselves. They need to break even and give the rest away to the government for redistribution as the Democrats see fit.
10. I voted Democrat because I believe liberal Judges need to rewrite the Constitution every few days to suit some fringe kooks who would never get their agendas past the voters.
11. I voted Democrat because I think that it's better to pay billions for oil from people who hate us but not drill our own because it might upset some endangered beetle, gopher or fish.
12. I voted Democrat because my head is so firmly planted up my ass, it's unlikely that I'll ever have another point of view.
Wednesday, October 03, 2012
Tuesday, October 02, 2012
Monday, October 01, 2012
Life in "Progress" Continent - Euro edition
The eurozone unemployment rate was 11.4pc in August, up from 10.2pc last year. Data from the EU statistics agency Eurostat estimated that 25.5m men and women were out of work over the period, 18.2m of whom were in the eurozone.
Compared with the previous month the number of unemployed people in the EU rose by 49,000 and in the eurozone by 34,000.
The overall unemployment rate in Spain has reached 25.1pc, while the latest data from Greece for June shows a figure of 24.4pc. The outlook is far more optimistic in Germany, however, where just 5.5pc of people are out of work.
More.....
Sunday, September 30, 2012
Who will she vote for? #71
Meet Amanda Clayton. Why is she in the news?
The Michigan lottery winner who shot to prominence after admitting that she was still collecting food stamps died Saturday of a possible drug overdose, the Detroit News reported.
Amanda Clayton, 25, was found dead at home around 9 a.m. Saturday, Ecorse police Sgt. Cornelius Herring confirmed. An autopsy is pending, according to WXYZ-TV.
Her friend’s boyfriend told WXYZ Clayton was discovered lying on the bed with her 1 1/2-year-old. The boyfriend said Clayton was “already in a bad stage” Friday night.
In March, a local news station confronted Clayton on camera about why she was still using food stamps to pay for her meals after winning a $1 million lottery prize. She defended the practice, saying, “I feel that it’s OK because I mean, I have no income and I have bills to pay, I have two houses.”
Years ago, a friend of mine once told me that you could take all the world's wealth, divide it evenly among all 8 billions inhabitants and it would be right back where it started right after the next three day weekend.
Amanda here just confirmed it.
Life in "Progress" Country - Spain edition
The middle-aged man sitting on a railway station bench protects a younger man by wrapping his arms around him as he shouts desperately at the helmeted, baton-wielding police officers running up and down the platforms at Madrid's Atocha station.
"Shame on you! Shame on you! Shame on you!" he bellows repeatedly in a video that shows how police charged into the station during violent demonstrations that shook Madrid last week.
On the other side of the ticket barrier a younger man is whacked with truncheons by two policemen. "I don't know whether he is a passenger or a protester," one of them admits. A third man who was waiting for a train is bundled down the platform by police officers as he asks: "And what have I done?" A youth points to blood running down his face. "What the hell is this?" he asks.
On Friday, police told a judge they had needed to chase a group of violent protesters across the railway tracks and had later arrested some in a nearby bar. They, too, had suffered injuries. "People who had been hurling stones at police tried to hide in the station, passing themselves off as normal passengers," a spokesman said. "We had to go in."
As Spaniards respond with dismay to the violence shown by demonstrators, who launched attacks on police, and the response of some riot police, during scuffles in the area around Madrid's parliament building last week, the long-running drama of the country's deflating economy has lurched into a newly confrontational stage, amid fears that there will be more violence to come.
When the hell is a media member going to ask Jay Carney or maybe the president the question "How much money can the US borrow before we start dealing with these problems"?
More.........
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