Posts Tagged ‘job market’

Why The More Democrats Destroy The American Economy, The Better It Will Be For Them Politically

April 9, 2013

In my student years and then in my working years, I have met many women whose boyfriends, live-in boyfriends or husbands treated them worse than I would treat dog crap.

It worked beautifully for the guys: they so destroyed these women’s self-esteem that they stayed with the men who abused them.

Why?  Their spirits were so crushed that they had been convinced that the low-life scum who abused them were the best they could ever hope to get.

And so they foolishly and self-destructively remained in abusive relationships.  If they had the crap beat out of them, they made sure to tell the police a story about some accident that hadn’t happened.

They sustained and protected and nurtured a “relationship” that was literally worse than cancer.

The national economic equivalent of the man I just described is Barack Hussein Obama.

He has so completely crushed so many desperate people – after selling them lie after lie after lie after lie – while holding out his socialist welfare state as the only solution for his massive economic failure – that many Americans believe Obama’s welfare society is their only hope.

Americans discouraged by economic recovery leave labor force
Published April 07, 2013
Associated Press

WASHINGTON –  After a full year of  fruitless job hunting, Natasha Baebler just gave up.

She’d already abandoned hope of getting work in her field, working with the  disabled. But she couldn’t land anything else, either — not even a job interview  at a telephone call center.

Until she feels confident enough to send out resumes again, she’ll get by on  food stamps and disability checks from Social Security and live with her parents  in St. Louis.

“I’m not proud of it,” says Baebler, who is in her mid-30s and is blind. “The  only way I’m able to sustain any semblance of self-preservation is to rely on  government programs that I have no desire to be on.”

Baebler’s frustrating experience has become all too common nearly four years  after the Great Recession ended: Many Americans are still so discouraged that  they’ve given up on the job market.

Older Americans have retired early. Younger ones have enrolled in school.  Others have suspended their job hunt until the employment landscape brightens.  Some, like Baebler, are collecting disability checks.

It isn’t supposed to be this way. After a recession, an improving economy is  supposed to bring people back into the job market.

Instead, the number of Americans in the labor force — those who have a job or  are looking for one — fell by nearly half a million people from February to  March, the government said Friday. And the percentage of working-age adults in  the labor force — what’s called the participation rate — fell to 63.3 percent  last month. It’s the lowest such figure since May 1979.

The falling participation rate tarnished the only apparent good news in the  jobs report the Labor Department released Friday: The unemployment rate dropped  to a four-year low of 7.6 percent in March from 7.7 in February.

People without a job who stop looking for one are no longer counted as  unemployed. That’s why the U.S. unemployment rate dropped in March despite weak  hiring. If the 496,000 who left the labor force last month had still been  looking for jobs, the unemployment rate would have risen to 7.9 percent in  March.

“Unemployment dropped for all the wrong reasons,” says Craig Alexander, chief  economist with TD Bank Financial Group. “It dropped because more workers stopped  looking for jobs. It signaled less confidence and optimism that there are jobs  out there.”

The participation rate peaked at 67.3 percent in 2000, reflecting an influx  of women into the work force. It’s been falling steadily ever since.

Part of the drop reflects the baby boom generation’s gradual move into  retirement. But such demographics aren’t the whole answer.

Even Americans of prime working age — 25 to 54 years old — are dropping out  of the workforce. Their participation rate fell to 81.1 percent last month, tied  with November for the lowest since December 1984.

“It’s the lack of job opportunities — the lack of demand for workers — that  is keeping these workers from working or seeking work,” says Heidi Shierholz, an  economist at the liberal Economic Policy Institute. The Labor Department says  there are still more than three unemployed people for every job opening.

Cynthia Marriott gave up her job search after an  interview in October for a position as a hotel concierge.

“They never said no,” she says. “They just never called me back.”

Her husband hasn’t worked full time since 2006. She cashed out her 401(k)  after being laid off from a job at a Los Angeles entertainment publicity firm in  2009. The couple owes thousands in taxes for that withdrawal. They have no  health insurance.

She got the maximum 99 weeks’ of unemployment benefits then allowed in  California and then moved to Atlanta.

Now she is looking to receive federal disability benefits for a lung  condition that she said leaves her weak and unable to work a full day. The  application is pending a medical review.

“I feel like I have no choice,” says Marriott, 47. “It’s just really sad and  frightening”

During the peak of her job search, Marriott was filling out 10 applications a  day. She applied for jobs she felt overqualified for, such as those at Home  Depot and Petco but never heard back. Eventually, the disappointment and fatigue  got to her.

“I just wanted a job,” she says. “I couldn’t really go on anymore looking for  a job.”

Young people are leaving the job market, too. The participation rate for  Americans ages 20 to 24 hit a 41-year low 69.6 percent last year before bouncing  back a bit. Many young people have enrolled in community colleges and  universities. That’s one reason a record 63 percent of adults ages 25 to 29 have  spent at least some time in college, according to the Pew Research Center.

Older Americans are returning to school, too. Doug Damato, who lives in  Asheville, N.C., lost his job as an installer at a utility company in February  2012. He stopped looking for work last fall, when he began taking classes in  mechanical engineering at Asheville-Buncombe Technical Community College.

Next week, Damato, 40, will accept an academic award for earning top grades.  But one obstacle has emerged: Under a recent change in state law, his  unemployment benefits will now end July 1, six months earlier than he  expected.

He’s planning to work nights, if possible, to support himself once the  benefits run out. Dropping out of school is “out of the question,” he said,  given the time he has already put into the program.

“I don’t want a handout,” he says. “I’m trying to better myself.”

Many older Americans who lost their jobs are finding refuge in Social  Security’s disability program. Nearly 8.9 million Americans are receiving  disability checks, up 1.3 million from when the recession ended in June  2009.

Natasha Baebler’s journey out of the labor force and onto the disability  rolls began when she lost her job serving disabled students and staff members at  Purdue University in West Lafayette, Ind., in February 2012.

For six months, she sought jobs in her field, brandishing master’s degrees in  social education and counseling. No luck.

Then she just started looking for anything. Still, she had no takers.

“I chose to stop and take a step back for a while … After you’ve seen that  amount of rejection,” she says, “you start thinking, ‘What’s going to make this  time any different?'”

Let’s just call it “Battered Worker Syndrome.”

How did Obama campaign against Mitt Romney?  Well, this rich turd demonized and slandered Mitt Romney as a rich turd who didn’t care about the poor.  Even though while Obama – just a couple years before deciding to run for president – gave virtually NOTHING to the poor or to charity, Mitt Romney was giving tens of millions of dollars to the poor.  Who was the real rich turd who didn’t care about the poor?

Look at the one-percenter vacation-vacation-vacation lifestyle of the Obamas since they got to live off the fat of everybody else.  And then consider that the Romenys never even had a damn MAID.

Republicans are generous people.  In fact they are FAR more generous than Democrats.  But rather than cynically exploiting the desperation of the poor to create wasteful federal bureaucracy after wasteful federal bureaucracy that pisses away other people’s money, Republicans believe that WE as individuals should give, whereas Democrats believe that they are generous because they’re willing to give away other people’s money.

Republicans don’t want tax cuts because they’re greedy or selfish; they want tax cuts because if they are allowed to control more of their own money, they will be able to build a better, bigger economy that will benefit EVERYONE.  They want tax cuts because it is better for both those who give to the needy as well as the needy who receive the gifts when private individuals and organizations control the charitable giving.

Margaret Thatcher put it brilliantly: Under the failed policies of the liberals, Britain had degenerated into “the new sick man of Europe.”  The economy was in shambles when Thatcher took over.  She turned the nation around.  But liberals couldn’t have cared less; what mattered to them was that the rich had become richer along with everyone else in the nation.   And as Margaret Thatcher put it, “Liberals prefer that the poor become poorer so long as the rich become less rich.”

You were lied to by a wicked man.  And on the other side of that coin is the fact that it is bad people who believe lies.  Which means YOU.

But Obama knows how to slander.  He knows how to demonize.  He knows how to fearmonger.  No one but the coming Antichrist will ever be better at it.  And Obama’s new Democrat Party will frame the next election this way: if you vote for Republicans, they’ll end the welfare state that you [thanks to Democrats] now depend on.

It takes courage and selfless integrity to vote outside of yourself and support the policies that will be best for THE COUNTRY and for the country’s longer-term prosperity.  Obama knows that you don’t have either one of those things.  He trusts in your cowardice and in your greed, and he knows how to exploit those pathetic traits that now dominate the American people’s national “character.”

What Obama promised would work we now know DIDN’T.  The average American household lost forty percent of its wealth thanks to Obama’s failed policies.  The median household lost $4,300 under Obama. But – like Hillary Clinton said over the treasonous debacle in Benghazi – “What difference does it make now?”  You know, now that thanks to liberalism you’re dependent on the tit of the federal government and if you can’t keep sucking other people’s money you’ll die because you’ve been reduced to being helpless?

Next presidential election, I believe that people will vote for their welfare check and to hell with the economy.  And I believe that because that’s pretty much what we did in 2008 and in 2012.

The Republican Party is the party of adults who have finally reached the place where they know what will make a business or a household economic plan work.  They are adults who have worked hard to earn something and believe that they  should be able to keep more of what they earn rather than giving it away to a class-warfare system of Marxist redistributionism [in exchange for votes].  And Obma knows that the American people have degenerated into children who want their mommy and daddy – or after mommy and daddy the federal government – to keep treating them like babies forever.

That’s why the worse things get economically, the better off the Democrat Party will be in 2016.

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The Hindenburg Omen: How Long Before Americans Cry, ‘Oh, The Humanity!’ As Obama Policies Fail?

August 31, 2010

A cartoonist used the image of the Hindenburg to describe the ideologically-biased mainstream media’s horrified reaction to Obama’s plummeting poll numbers back in July 2009:

But now there is another, far more frightening connection between Barack Obama and the infamous Hindenburg explosion.

Obama aint going down quietly: he’s taking the entire American economy with him:

The Hindenburg Omen IS Scary, but So Are the Fundamentals
Posted Aug 25, 2010 01:37pm EDT by Aaron Task in Investing

After tumbling below 10,000 yet again Wednesday morning, the Dow rebounded to close above that psychologically important level and was slightly higher early Thursday. Still, fear in the market is being expressed by the continued rally in Treasuries and widespread chatter about an ominous sounding technical indicator: The Hindenburg Omen.

The Hindenburg Omen has a roughly 25% accuracy rate in predicting big market upheaval since 1987, meaning it’s far from infallible but isn’t inconsequential either. The indicator’s creator, mathematician Jim Miekka, compares the Hindenburg Omen to a funnel cloud that precedes a tornado in a recent interview with The WSJ. “It doesn’t mean [the market’s] going to crash, but it’s a high probability,” he said.

Complex and esoteric even in the world of technical indicators, the Hindenburg Omen is triggered when the following occurs, Zero Hedge reports:

  • — The daily number of NYSE new 52-week highs and the daily number of new 52-week lows must both be greater than 2.2% of total NYSE issues traded that day.
  • — The NYSE’s 10-week moving average is rising.
  • — The McClellan Oscillator (a technical measure of “overbought” vs. “oversold” conditions) is negative on that same day.
  • — New 52-week highs cannot be more than twice the new 52-week lows. This condition is absolutely mandatory.

These criteria have been hit twice since Aug. 12, prompting Miekka to get out of the market entirely, The WSJ reports. Judging by the recent market action, many others are following suit — or at least moving in the same direction.

Worry List Lengthens

As Henry and I discuss in the accompanying clip, there are a lot of reasons to be worried right now that having nothing to with The Hindenburg Omen, the “Death Cross”, Mercury being in retrograde or myriad other indicators cited by market pundits of various stripes.

More fundamental reasons to be concerned include:

It’s the Economy, Stupid: This week’s weak durable goods and home sales reports are just the latest in a string of desultory data. In sum, the macroeconomic data strongly suggest the job market isn’t going to improve anytime soon. And if the job market doesn’t improve, there’s really not much hope for a turnaround in housing, consumer sales or anything else really. Oh, and the stock market is still expensive on a cyclically adjusted P/E basis, making it more vulnerable to an economic slowdown.

Unusual Uncertainty: On July 21, Fed chairman Ben Bernanke testified on Capitol Hill that the Fed’s forecast called for real GDP growth of 3%-3.5% for 2010 and 3.5%-4.5% in 2011 and 2012. Less than a month later, the Fed announced plans to buy Treasuries again (a.k.a. “QE2”) and, as The WSJ reported this week, there’s a tremendous amount of dissention within the Fed about the ‘right’ policy prescription.

Financial Follies: Whether it’s renewed concerns about Europe’s sovereign debt crisis, more U.S. bank closures or reports of commercial developers walking away from properties, it’s clear the problems in the financial system were not resolved by various and sundry bailouts and government stimulus … not by a long shot.

Good Politics vs. Good Economics: S&P’s downgrade of Ireland’s debt and Greece’s revenue shortfall show the short-term perils of the austerity measures that have swept Europe. But promising to cut government spending and slash deficits appears to be a winning political strategy in America right now. Certainly, it’s a key message of Republican and Tea Party candidates, who appear to have the momentum heading into the November mid-term elections. But if Europe’s ‘PIIGS’ are any example, gridlock might not be so “good” for the economy this time around, much less the financial markets.

Of course, the “good” news here is that there’s so much to worry about and the markets typically are darkest just before dawn.

CEOs of large corporations see a mess created by Obama to blame for the malaise that we haven’t seen since Obama’s long-lost twin Jimmy Carter was president:

This week, Intel CEO Paul Otellini and Jim Tisch, CEO of Loews Corp. both blamed the President’s policies for creating an environment of “uncertainty” that is crippling America’s economy.

The Obama administration is “flummoxed by their experiment in Keynesian economics not working,” Otellini said Monday in a speech in Aspen.

Higher taxes and more regulation add an additional $1 billion to building a semiconductor manufacturing plant in the U.S. vs. overseas, the CEO said.

As a result, “the next big thing will not be invented here. Jobs will not be created here,” Otellini said, warning of “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe…this is the bitter truth.”

Loews’ Tisch made similarly themed comments in a Bloomberg interview on Wednesday. “Part of the problem is that business has very little confidence in what’s been going on and very little visibility,” he said.

But is it just CEOs?  Is it just big business?  Surely Obama’s anti-business policies are making things easier for the little guy, right?

Wrong:

For America’s Middle Class, the Hits Just Keep on Coming
Posted Aug 25, 2010 07:50am EDT by Aaron Task

A lot of ink and pixels have been spilled this week over the ICI’s report that equity mutual funds suffered net withdrawals totaling over $33 billion in the first seven months of 2010. Myriad reasons were cited for the trend, including a mistrust of stocks, the flash crash and an aging population. (See: The Next Bubble? Investors Flee Stocks in Droves In Favor of Bonds.)

Perhaps the biggest reason of all hasn’t gotten enough attention: Americans are making due with less and don’t have the money to put into stock funds, and many are taking money out of their investments to pay for basic necessities like food, clothing and shelter.

With wages stagnant for those who still have a job “a lot of people are having to tap into their nest egg to keep their living standards going,” says Damien Hoffman, co-founder of WallStCheatSheet. “A lot of people are living out of principal. There’s no other way to get around that.”

Fidelity’s recent report of a sharp increase in the number of 401(k) participants seeking loans or hardship withdrawals in the second quarter is further evidence of the disappearing middle class. “These are basically emergency ways to fund yourself. We think it’s a scary statistic,” Hoffman says. “Where is the middle class going to be if they draw down their 401(k)s drastically over course of next few years?”

Obama’s anti-business and profoundly socialist policies seek to punish business in every way he can.

A lot of Americans were probably happy with that in November of ’08.

But that was before they began to realize the truth that either all boats rise, or all boats sink.  Nancy Pelosi never drained the political swamp, as she falsely promised, but Barack Obama has certainly drained the ocean of economic opportunity (and very likely poisoned the bluebird of happiness, but that’s a crime for another day).  We need the rich, and the big businesses, in order to have jobs.  When they profit, the rest of us do.  And when they are demonized and attacked and regulated to death, the rest of us suffer, too.

Because name the last time a poor person hired you and gave you a good paying position.  If you’re a liberal, let me add, “It was never, wasn’t it, dumbass?”

It’s not really accurate to say that Obama is “anti-business”; he’s the MOST anti-business president ever.

A glance at Obama’s appointments and their actual world business experience should suffice to reveal how important business was to Obama.

Obama filled his administration with radicals out to “fundamentally transform America.”  And being the kind of man or woman who was oriented toward meeting payrolls and expanding businesses really didn’t need to apply.

And these eggheaded Marxists are seizing money from the private sector – and even from the future – and making terrible decisions about how to invest it.  We get turtle tunnels and monkey cocaine studies rather than infrastructure investment.  Had it been up to businesses as to how to invest the trillions of dollars that Obama pissed away, things would have been a lot better now.

I love the title from a US News & World Report article: “Obama’s Anti-Business Policies Are Our Economic Katrina.”  It’s written by Mortimer Zuckerman, who used to be a huge supporter of Barry Hussein, until he finally realized that “the One” was nothing more than a great big fart in the wind.

And even Obama’s own Democrat Party is now finally beginning to realize what a great big fart in the wind Obama truly is.  They hitched themselves to the Obama bandwagon; and now the wagon is burnt to ashes.

On November 4, 2008, the voters of the United States of America voted for national extinction.  And yet many are surprised that we’re now following in the footsteps of the Dodo bird.