Great Jobs Report: Unemployment Rate Falls To 7.5%

Originally posted by SubTruth
reply to post by BobM88

 

At the end of the day do people believe the TPTB are telling them the truth? Are these numbers really good news?



I don't trust progressives.

edit on 3-5-2013 by SubTruth because: (no reason given)

I don't know

I don't know

I don't trust *politicians* be they progressive or conservative...no decent person would want a career in politics or law. Just MHO.

Originally posted by BobM88

Originally posted by TauCetixeta

Originally posted by BobM88
reply to post by TauCetixeta

 

Too bad Harry wouldn't have realized this before pushing so hard to get it passed!

Nobody read the bill ! Now there are 27,000 more pages for someone to read!

AND the solution is to hire an Army of " Navigators " to explain it us?

The " Navigators " are a Secular Progressive Ruse.

Do i have to read all of these pages???



Do i have to read every page? Wouldn't it be easier if i just jump head first into

the Grand Canyon?

edit on 3-5-2013 by TauCetixeta because: (no reason given)

OMG! That's what 27,000 pages looks like? How in the hell (pardon my language) can anyone....it doesn't seem possible to be able to actually know what's in there. What would a summary of that look like? 3,000 pages? That's madness. Sheer madness to pass a law that big. Wouldn't it make more sense to pass more smaller laws? I don't know, maybe it's my ignorance of these things shining through, but that seems insane to me.

Charles Krauthammer took a good look at this photo and called it a Train Wreck crashing into

a Junkyard.

Originally posted by Afterthought
reply to post by BobM88

 

I appreciate your positive attitude, but I believe the number of unemployed has dropped only because people have fallen out of the system and aren't collecting unemployment benefits anymore.
According to this, it's 13.9%
portalseven.com...

Yup well stated. An example here.


"The report Friday from the Labor Department was a reassuring sign that the U.S. job market is improving".

Two days ago: "The Toronto stock market closed sharply lower amid indications of slowing growth in the Chinese and American economies."

reply to post by Agent_USA_Supporter


Our USA growth may slow but we are not falling into a recession.

Go check Europe.

reply to post by BobM88


No, they can't reform the damage that has already been done. All that bill does is say that if banks engage in derivatives and risky speculation, they are not eligible for a "bail out". Naturally, this doesn't stop them from doing it though. The psychology of these creeps is "gotta grab what we can as soon as we can, and to hell with the future".

The nine largest banks have in excess of $220 trillion in derivative exposure. This is more than three times the size of the global economy. Bank of New York Mellon (BK) has an exposure of $1.375 trillion, State Street Financial (STT) has an exposure of $1.390 trillion, Morgan Stanley (MS) has an exposure of $1.722 trillion, Wells Fargo (WFC) has an exposure of $3.332 trillion, and HSBC (HBC) has an exposure of $4.321 trillion. These five banks pale in comparison to the other four banks. Goldman Sachs (GS) has an exposure of $44.192 trillion, Bank of America (BAC) has an exposure of $50.135 trillion, Citibank (C) has an exposure of $52.102 trillion, and JP Morgan Chase (JPM) has an exposure of $70.151 trillion. Five of the most trusted banks account for over 95% of the risky bets that are known as derivatives.

seekingalpha.com...

Dodd-Frank was passed in 2010, and this article is from 2012. Does it look like they were reined in to you?

So, what does this mean in layman's terms? Many of the top banks are far too overexposed in the bets they have made. The top banks seem to be addicted to gambling and the bets they are making are increasingly risky. Derivatives have come under public scrutiny recently with JPMorgan's $2 billion trading loss on a derivatives trade. Jamie Dimon was forced to apologize and several people left over the trade. This trade has been called a colossal error, however, it was practically nothing of the true exposure banks like JPMorgan have to the derivative markets. It is a very dangerous game that these five banks are playing, and if everything goes wrong, they do not have the money to pay for the derivative bets they are making.

ibid.

In fact, the banks are already pushing for Dodd-Frank to be weakened to the point of absurdity, because apparently the dangerous game they're playing isn't dangerous enough for them.

A key effort in the Dodd-Frank financial reform act has been to bring transparency and reforms to the complex, shadowy market of derivatives. On Wednesday, however, Republicans and Democrats on the House Agriculture Committee approved seven bills that would roll back parts of the Dodd-Frank financial regulations. The bills will now proceed to a floor vote.

www.washingtonpost.com...

Be aware that Cyprus-style "bail-ins" are on the table, but I see it happening differently. Please see:www.abovetopsecret.com...

Do NOT be fooled! As Warren Buffet said, derivatives are a weapon of financial mass destruction. When they blow....AND THEY WILL.....We're all going to pay, dearly.

reply to post by BobM88


Actually this jobs report is HORRIFIC if you actually tabulate anything besides the raw numbers of jobs!

Once you dig down into the report you see that while yes 165000 jobs were created this month the average hours worked by employees has dropped ....

Unfortunately it's dropped at a rate that JUST TO BREAK EVEN would have required almost 3/4 of a million jobs to be created last month just to make up for the cut in hours suffered by those already working!

And realistically the only reason we are seeing a hiring expansion AT ALL right now is due to policies embedded within obamacare which is forcing many employers to cut the hours of their full time employees wherever possible to get them exemptions or knocked into brackets within obamacare which will not bankrupt them!

So essentially while more jobs may have showed up the quality of the jobs and the amount of full time jobs has went DOWN precipitously!

So NO this job report is NOT good! It is in fact a very very bad sign of an economy that is taking one more colossal hammer blow at a time when it is already staggering under the weight of dozens of other major issues!

Implications of today's Job's report

reply to post by FissionSurplus


You are assuming a Worst Case Scenario.

The United States is and shall remain an economic superpower.

They have to stop the redistribution of US wealth and power by halting the exodus of business and manufacturing, the loss of jobs to foreign countries, outsourcing, and replacing of American workers with cheap immigrants (not just Mexicans).

Probably too late now, but it is the globalist agendas combined with greed among the elite that you can thank when it all comes crashing down.

May as well enjoy these good times while they last.

Originally posted by Skadi_the_Evil_Elf

Originally posted by Trueman
reply to post by BobM88

 

Not even want to read the source. To publish stats is a dirty old trick played for all governments, it always works.

Unemployment rates fall when underemployment rate goes up.

We have people accepting to work at 8$ per hour in jobs that worth 12$ per hour or more.

There is a new unnamed working class with less than 40 hours a week, but still considered full time workers.

Not even want to mention the millions working just 15/20 hours part time jobs.

Consider the term "Cook the books".

This. Even if people are working, so many of these newly created jobs and hires are part time, minimum wage crap. Which isn't a great health indicator for the economy. People working such jobs often still have to collect benefits to keep afloat, especially if you live in more expensive areas.

On to top that, employers are reducing benefits, so we need to spend more money from our check to cover things like health insurance uncovered services. So, the amount of money shown in your check is fictional.

Publishing these fake stats is like calling us stupid. We don't have power over this TPTB behind the BS, but I'll see all of them going to hell on day.

Originally posted by roguetechie
reply to post by BobM88

 

Actually this jobs report is HORRIFIC if you actually tabulate anything besides the raw numbers of jobs!

Once you dig down into the report you see that while yes 165000 jobs were created this month the average hours worked by employees has dropped ....

Unfortunately it's dropped at a rate that JUST TO BREAK EVEN would have required almost 3/4 of a million jobs to be created last month just to make up for the cut in hours suffered by those already working!

And realistically the only reason we are seeing a hiring expansion AT ALL right now is due to policies embedded within obamacare which is forcing many employers to cut the hours of their full time employees wherever possible to get them exemptions or knocked into brackets within obamacare which will not bankrupt them!

So essentially while more jobs may have showed up the quality of the jobs and the amount of full time jobs has went DOWN precipitously!

So NO this job report is NOT good! It is in fact a very very bad sign of an economy that is taking one more colossal hammer blow at a time when it is already staggering under the weight of dozens of other major issues!

Implications of today's Job's report

I wouldn't use the word Horrific.

This is where we are:

reply to post by TauCetixeta


And YOU are assuming that the horrific overexposure in the derivatives markets by all the largest banks is just "business as usual" and nothing bad is going to happen. We became an economic superpower based on our manufacturing strength, which has now been gutted. Our "superpower" economic status is just numbers in a computer now. Other countries are turning away from the USD as a reserve currency. As much as it pains me to say it, we are a Has-Been. The future belongs to Asia, and we assisted them in their ambitions as our own economic future was sold down the river.

Rah rah siss boom bah! Keep on cheerleading. Even when their team is losing badly, cheerleaders are supposed to keep up a happy smile until the buzzer sounds at the end. Then they can go and cry in private.

I'll be here with a box of tissues for you when that happens.

Originally posted by FissionSurplus
reply to post by TauCetixeta

 

Rah rah siss boom bah! Keep on cheerleading. Even when their team is losing badly, cheerleaders are supposed to keep up a happy smile until the buzzer sounds at the end. Then they can go and cry in private.

I'll be here with a box of tissues for you when that happens.

Priceless.....LOL
I have my box of tissues ready too!

reply to post by 48e18
The most important stat of all, and it is not fear mongering and it has to be paid back.......................17 trillion dollars of debt. Your economy or your household isn't doing very well if you have that much debt. It is a very unhealthy way to run a Government or home. We are flat arse broke, plain and simple. Sorry I blew up, I just get sick of hearing how everything is getting better when in reality it wont be, until we have no debt and we owe no one. Rant over.

reply to post by TauCetixeta


The "Conference Board", who's handy pic of questionable factoids you keep posting ad nauseum on here is an organization of a bunch of the biggest businesses in America. Therefore, what else can you expect them to say? Their supposed "facts" will boost their bottom line by instilling confidence in the consumer to go out and loosen their purse strings, because everything is hunky-dory.

It is a CONFLICT OF INTEREST for these companies to spout a bunch of nonsense about "more jobs" and "higher pay", along with "reduced debt" and "restoration of wealth" to the average American....not to mention, it's also a damned lie.

You cannot possibly expect anybody with a brain that works to accept what they say as proof of economic recovery. They exist for the sole reason of getting people to go out and buy stuff, otherwise, they wouldn't exist.

But you keep trying. Don't ever let the facts get in the way of the truth. Government propaganda 101.

reply to post by Starwise


LOL Starwise!! Perhaps a small bull investment in Kimberly Clark is in order here.....because we're gonna need a lot of boxes.

reply to post by FissionSurplus


No doubt....

The economy is creating part-time jobs. According to the separate Household Survey, the number of people employed part time for economic reasons," i.e., "involuntary part-time workers..." That's what the Labor Department calls them: Involuntary part-time workers These are people that have their hours reduced. That number of people employed part time for economic reasons "increased by 278,000 to 7.9 million, largely offsetting a decrease in March. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. At the same time, the U-6 unemployment rate -- which is the number people out of work and the number of people who have given up and are no longer counted in the U-3 number -- that number went up. It's 13.9%. There was a two-tenths of an hour decline in the length of the average workweek. I mean, this stuff gets detailed and filled with minutia. But the nut of it here is that it's a part-time economy, and the number of involuntary part-time workers is skyrocketing. Now, remember, the economy added 293,000 jobs last month. The number of people employed part time increased by about the same: 278,000. So we're not adding careers, is how I look at it.

reply to post by TauCetixeta


Actually Tau... you are completely mistaken!

The phoenix metro area's explosive rise in home prices is due to institutional investors snapping up properties which they then put in the care of property management companies who lease or rent them out...

The fallacy that actual families are buying these homes to live in is not in any way supported by the actual numbers that are freely available to those who do their due diligence.

This has caused rent prices in the phoenix area to drop on some properties due to a glut on a market that is also slowly but surely becoming too expensive for the vast majority of people to participate in!

And while gas prices may have went down temporarily I can tell you that this is also not actually a good sign!

Do you know why gas prices are dropping right now?

Because demand worldwide is CRATERING!!

Last month a survey was done among companies that operate tankers in the middle east. Do you know what they found? They found that nearly 22% of all tankers in the fleets were most likely not going to do even a single run for the ENTIRE month! They also found that many of the tankers that are still operating and running shipments are operating at losses up to several hundred dollars a day during the runs! In other words demand is so far down that the going price for a tanker delivery is now so low that many operators cannot even operate their ships on what they are getting paid!

If you look at rail traffic and a myriad of other indicators the news is the same everywhere!

I'd also like to point out that the so-called job creation going on right now is really just a reshuffling act where companies are cutting the hours of more expensive employees and hiring less expensive employees (also part time! good luck finding full time work in most of the country right now! and you know what? It's only going to get worse!).

If you or anyone else arguing that the economy is doing better had bothered to drill down into the data even a tiny bit you'd see that while in theory 169k jobs were created the total hours worked by the ENTIRE workforce in the country has dropped SHARPLY! To a point where just to even things out for the loss of average hours worked by already employed people there would have had to have been almost three quarters of a MILLION jobs created... not one hundred and sixty nine THOUSAND!

As to those saying QE is ok because everyone is doing it.... I hope to god you are not economics or accounting majors because statements like that are so ridiculously illogical that it actually PAINS me to hear people saying things like that with a straight face and actually BELIEVING them!

Now... to address the whole there's been no hyper inflation so you right wingers are wrong wrong wrong argument....

First off if you knew ANYTHING about the mechanics of economic collapses you would know that before any hyperinflation incident there is a period of deflation.... we are starting to enter this period now (Finally... Helicopter Ben and the gang may have kept the hot potato in the air for awhile but it was sheer folly to think they could do it indefinitely!)

In addition it can and should be pointed out that much of the difficulty people are having with predicting the markets is due to the utterly rampant and ubiquitous price fixing, organized fraud, insider trading, and other dirty games going on behind the scenes right now! In essence the reason things are being made to look like they are on the upswing right now is to bring the last of the money from the quickly evaporating middle class and nouveau riche back into the markets for one more round of fleecing!

If you watch closely what the ultra rich and the ultra smart are doing right now.... you will see a concerted and UNIVERSAL effort to use every trick at their disposal to gain ownership of real and tangible physical assets in exchange for useless paper!

Take for example Gold.... rumors of gold's demise are running rampant and everyone and their dog are telling YOU the small time investor that gold, especially physical gold you hold yourself, is a bad investment and that you should sell it NOW!

However if you are watching the inventories of actual physical gold worldwide you will see that at the same time they are giving this advice they themselves are snapping up as much real physical gold as possible!

I've given up on trying to figure out whether the next round could be the big one, but I can tell you this. They are using the exact same playbook and even the exact same plays as they used in 2008 and the other crashes!

Originally posted by TauCetixeta
reply to post by Agent_USA_Supporter

 

Our USA growth may slow but we are not falling into a recession.

Go check Europe.

You still believe the MSM dont you?
but we are not falling into a recession.

That reminds me of what the MSM pundits used to say before the 2008 stock crash hold on i will give you the few articles for it.
No Recession, But…

The bottom line looks like this: The economists project, on average, that the economy will grow 2.1% from the fourth quarter of 2007 to the end of 2008, vs. 2.6% in 2007. Only two of the forecasters expect a recession, although it might feel like one if there's sluggish growth over the next couple of quarters, as many predict. Almost all think the risk of a downturn has risen substantially in recent months.

Almost all "no recession" forecasts are predicated on further rate cuts by the Fed. The target rate is expected to drop from 4.25% to between 2.5% and 4%, with almost half of the analysts projecting it to fall below 4%. The yield curve will steepen a bit, as 10-year Treasuries edge up to 4.5% by yearend.

I am also still waiting for the photos from the so supposed bin laden raid, i wonder why the long wait?

Just an example but we have hired five new people at my work but in turn everyones hours are cut. I work in a smaller retail store and the average hours per employee is 14. So unemployment numbers mean very little. We should consider underemployment in the discussion.