Oh dear.
“if you take core government plus the middle class economy (65 million jobs), that’s the breadwinning economy, if we take some numbers – how many jobs in the “core economy” in November – zero; how many jobs since last December: net zero; how many jobs since the bottom of the recession in June 2009: still a million behind from when the recession ended.”
The meat begins at about the 2:45 minute mark.
Related (link fixed) – The more you read of this thing the worse it gets. The 25-years and over unemployment rate for those with a four year college degree or better rose an epic 0.4% in one month, rising from 4.4% in September to 4.7% in October to 5.1% in November. This is dreadful.
Is the related link supposed to link back to SDA? O_o
So what does and University degree get you besides being deeply in debt?
A shingle on the wall…in your parents basement…where you live!!!
I’m a mechanic in training for my ‘B’ pressure ticket.
I dropped university Chemistry and Physics when the
greens drank the AGW Koolaid.
I might go back after I’ve made my 200,000/ years
Had my kids, and bought a ranch. And built defensive positions against hippies stepping onto my property.
[d]
Another one of those “unexpected” (by Obama’s media) job numbers and economic data.
Interesting piece, but CNBC needs to add to the jobless numbers with whoever produces that show. The producer have A.D.D. or something?
Great opportunity for local, state, and federal governments to slash their bloated bureaucracies. Every cloud has a silver lining 🙂
Where are all those illegal immigrant construction & landscape engineers going to go now?
Wonder if they will still be doing the jobs Americans won’t do, or will they take the long stroll back across the desert home. I’m betting chemical distribution manager will be the future career choice of most.
The 41.4% “Middle Class Economy” mentioned is going to have a much tougher time supporting the 45 million registered and growing food stamp recipients, along with their “new” medicare entitlements. Couple that with the real economic collapse that is still around Obamba corner when the USD stops trading as the world currency, China dumps it’s Trillions in treasuries, and the Fed Liberally prints the country into hyperinflation.
Tough times ahead for all, conservatism is key. Stock up on your self reliant supplies, and lots of ammo. The hippies will indeed be coming!
Barrynomics . . . bringing economic desperation and poverty distribution to Americans everywhere.
Some still say that Glen Beck is crazy!
Here’s the post for the broken link at “Related”.
No doubt hiring more government workers or government control of business would fix the problem.
Seriously, the US government needs to make that fellow the secretary of whatever department would bring back the core productive economy.
Some 15-18 months ago the more accurate economy watchers were predicting a decade long recession/depression IF the government used monetization to prop up the fraudulent mortgage holders and wall street debt swap failures.
Voila! Buddy can ya spare a dime.
It looks like they yanked the video. It must have been a doozy.
Looks like America is turning away from it’s liberal arts majors. Pity, they are such mmm what are the best words to describe them … ah … naive and caring.
The fact is that economic reality is harshing America’s buzz.
There will be one area of rapid job growth over the next couple of years …. criminal activity and prison construction.
Stupid and sheltered by privilege.
Addition to Knight 99’s comment from Zerohedge:
In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year
http://www.zerohedge.com/article/entitlement-america-head-household-making-minimum-wage-has-more-disposable-income-family-mak
I posted this on another thread, but I’m vain enough to feel it bears repeating here:
Here’s the unvarnished truth that no Democrat will admit to:
U6 is the broadest measure of unemployment – it includes the traditional unemployed, those who are working part time but want full time work, and those who would like to work, but have just given up looking. At the time of Bambam’s election (Nov. 2008), U6 was at 12%, a level last seen in 1994. At the time of his inauguration, it was 14%. Now, it’s fair to blame those numbers, if they can be blamed on anyone, on GWB.
However, for November 2010, after nearly two full years of a Democratic president, a Democratic House, and a Democratic Senate, and over a trillion dollars of “stimulus” spending, U6 sits at.. 14%? 12%? 10%?
No, my friends. U6 is now a stunning 17%, which means almost 1 in 5 potential American workers either can’t find a job, can’t find a full-time job, or have lost hope so badly, they won’t even look for a job.
As my buddy Occam might agree, you don’t need to look at the Tea Party or Sarah to explain November’s electoral rout. That one number explains it perfectly. Never mind the overseas embarrassments – the “Reset” button, the bows, the self-centered gifts – or the scandals or the promises made but not kept. It’s this colossal, stupendous, massive failure on the economic front, when the Dems have held every branch of government (one might argue about the judiciary, but point to one instance where the Supremes have thwarted Bambam.. I’ll wait), that’s responsible.
Man, I wish I was a Republican or Tea Party ad man. “17” would go down in history as a classic.
KevinB, nice comment. Allow me to gild it for you a wee bit.
In this 17% unemployment evivironment, and having just been crushed at the polls, the Democrats are today, right now, focused on two things.
1) Trying to find a way to either jam in a huge tax increase or to make the Republicans look bad for not letting them do it.
2)The EPA and its new regulations, which are currently much more secret than the US’s diplomatic cables, but roumor has it will put every coal related company in America out of business in 2011.
No worries mate. President Obama will give another speech and make it all better. Oh wait…
This is what you get when you outsource all jobs to China and India.
You get negative net cash flow, which the government offsets by printing money.
It’s the same as withdrawing your paycheck from the bank machine and burning half of it. Would you do that? No, that’s crazy. But on the country level it makes perfect sense (or at least that’s what the consensus on this blog was for the last few years).
When entire textile industry went to China my wife and I were laughing: she’s a dressmaker and suddenly we could buy used machines at scrap metal price and perfect good new fabrics, thread and notions at liquidation prices. Then it dried up – no more textile industry in the USA.
You need to be familiar with devastation it wrecked to comprehend the scale. Entire states have been emptied of business. Those who support outsourcing either profit from that, or they are maniacal and suicidal.
Aaron
Trust me , any Albertan over 40 knows what you mean.