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The Bad Jobs Report Is Just A Very Small Taste Of The Nightmare That Is Coming
The Economic Collapse Blog ^ | 06/02/2012 | Michael Snyder

Posted on 06/03/2012 6:58:23 AM PDT by SeekAndFind

Another month, another bad jobs report. For the month of May, the U.S. economy only added 69,000 jobs and the unemployment rate rose to 8.2%. Many are calling this a total "disaster" and are worried that the U.S. economy could be headed back into another recession. Economists had been expecting 150,000 payroll jobs would be added, so the 69,000 number really shocked a lot of people. The truth is that the economy needs to add approximately 125,000 new jobs every single month just to keep the unemployment rate steady. So yes, this bad jobs report is not welcome news at all - especially for the Obama administration. When Barack Obama first took office the unemployment rate was sitting at 7.6 percent and now it is sitting at 8.2 percent. Some "recovery", eh? But the reality is that this jobs report was really not that "devastating" even though the stock market had its worst day of the year. Unemployment in America is still about at the same level as it was back at the beginning of 2012. The tough stretch that we are going through right now is only a very small taste of the economic nightmare that is on the horizon. If you think that things are a "disaster" right now, just wait until you see what is coming.

At the moment, 53 percent of all Americans with a bachelor's degree under the age of 25 are either unemployed or underemployed, and there are more than 100 million working age Americans that do not currently have jobs.

But this is only just the beginning.

During the next major economic downturn, the unemployment rate in the United States is going to soar well up into the double digits.

Many Americans will look back on 2010, 2011 and 2012 as "the good old days".

Right now, there are only small pockets of the country that are total economic hellholes.

For example, Yuma, Arizona has an unemployment rate of 26 percent, and El Centro, California has an unemployment rate of 26.2 percent.

In the future, those kinds of numbers are going to become the norm all over the nation.

Sadly, most Americans have no idea what is coming.

Today, I wanted to share with you all a couple of chilling economic forecasts that I have been made aware of recently.

The first is from Raoul Pal. According to Zero Hedge, Raoul Pal "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes."

The following is from a Zero Hedge summary of a recent presentation by Raoul Pal....

It continues:

It only gets better. We use the term loosely:

So how soon does Raoul Pal think all of this is going to happen?....

From a timing perspective, I think 2012 and 2013 will usher in the end.

You can find his entire presentation entitled "The End Game" right here.

What Raoul Pal is saying lines up very well with what Steve Quayle's anonymous international banking source is telling him....

There is no stopping this...We are still on track as I have been predicting for a while now for a fall/winter collapse of the Eurozone and naked exposure of all derivative markets the world over. Europeans will go through a major reset, after time they will recover as Europeans do not carry the type of personal debt that Americans do. It is for America that I worry. Look for these signs next:

1- JPM will be bailed out again but it will not stop the coming market crash. More details will emerge about their derivative swap failure $150 billion and counting.

2-BOA (BAC Bank of America) will fold and be absorbed into JPM as a way to prop up the bleeding Giant. JPM will get the best picking of this deal just like they got with Bear Stearns.

3- Massive layoffs at Citigroup and Wells Fargo

4- Goldman Sachs finally pays the piper, look for massive cuts there as well as BIG Losses

5- Bond market bust which leads to freeze of all bond sales

6- Derivative bust the next one will be BOA followed by Citigroup

7- All CDS shorts and swaps will freeze.

8- Total Meltdown

You can read the rest of what that source is saying right here.

As I have been saying all along, there are two keys that you need to be watching right now....

#1 Europe

#2 Derivatives

Sadly, the articles that I write about Europe tend to get far less of a response than my other articles get. Most Americans simply do not understand that what is happening in Europe right now is going to significantly affect their daily lives.

And most Americans have very little understanding of derivatives. But as you just read, there are some in the financial community that are warning that we could see the derivatives bubble burst very soon.

Time is running out. This period of relative stability that we are currently experiencing will not last forever.

You better get ready.



TOPICS: Business/Economy; Society
KEYWORDS: deathofthewest; jobs; obamageddon; unemployment
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1 posted on 06/03/2012 6:58:31 AM PDT by SeekAndFind
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To: SF_Redux

Ping to this thread.


2 posted on 06/03/2012 7:02:33 AM PDT by carriage_hill (All liberals & most demoncraps think that life is just a sponge bath, with a happy ending.)
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To: SeekAndFind

A good post, seek.

I am trying to figure out what to do.


3 posted on 06/03/2012 7:03:02 AM PDT by jacquej
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To: SeekAndFind

UGH!! Bump for later.


4 posted on 06/03/2012 7:04:49 AM PDT by LuvFreeRepublic ( (#withNewt))
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To: jacquej

When you figure out what to do, please let me know!


5 posted on 06/03/2012 7:06:14 AM PDT by LuvFreeRepublic ( (#withNewt))
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To: SeekAndFind

I fear the hyper-inflation that is surely coming.

Life’s saving may be wiped out overnight.

The Government cannot just print more money to solve the problem without eventually that money becoming worthless.


6 posted on 06/03/2012 7:11:47 AM PDT by Venturer
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To: Venturer

The government stopped representing the people with common sense solutions a long time ago, they have known this was coming, no prophetic vision necessary. So they have taken the attitude of rob and plunder before the fall.

Come Lord!!!


7 posted on 06/03/2012 7:18:48 AM PDT by aces
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To: SeekAndFind

All of this, and TAXMEGGEDON coming on January 1, 2013.

The Radical Socialists behind Obama have said, ALL ALONG, that they must COMPLETELY crash the economy, to rebuild it, with the Sheeple BEGGING them for “CHANGE!”.


8 posted on 06/03/2012 7:24:54 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: SeekAndFind

About a month back the Obama Treasury enacted regs that just put the US taxpayers on the hook for the derivatives. Nobody in Congress took note, nobody in the MSM took note. If EU collapses, the US banks who used derivatives to leverage speculation on the EU, currency swaps and etc, will take losses of 50+ to 1.


9 posted on 06/03/2012 7:29:16 AM PDT by Fee
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To: SeekAndFind

I think there’s going to be big money in building prisons to house all the Democrat politicians.


10 posted on 06/03/2012 7:31:53 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: tcrlaf

Communism can only be implemented when people are in misery and impoverished.


11 posted on 06/03/2012 7:40:11 AM PDT by W. W. SMITH (Maybe the horse will learn to sing)
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To: SeekAndFind

The scariest thought is that the trillions Obama racked up to create jobs is just money down the drain. Someone should do the numbers and show how much this recession has cost our future taxpayers because of the failed Obamanomics any idiot that wants more of the same is insane.


12 posted on 06/03/2012 7:42:53 AM PDT by Typical_Whitey (Obama reelection means the end of America.)
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To: SeekAndFind

The Big Reset Button.

(Asteroid Impact HD, set to Pink Floyd’s “Great Gig in the Sky.”)

http://youtu.be/-zvCUmeoHpw


13 posted on 06/03/2012 7:45:17 AM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: jacquej

Start stockpiling food until you have about 1 years supply.
Make sure you have a weapon or two or three with a good supply of ammo.
Get a water purifier
Stockpile medicines
purchase some silver and fractional gold and keep cash in the mattress.
If you can afford it install an alternative electrical system.
If you can afford it do all of the above at a retreat outside the city.


14 posted on 06/03/2012 8:07:24 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Fee

Nobody in congress took note. And that’s one of the biggest problems right there.

I feel sorry for the younger generation. I even feel sorry for the younger generation who put obama in office and still love him. Umm. No, I don’t! When they’re all living like it’s the 1700s they’ll be telling their grandchildren that it’s Bush’s fault.


15 posted on 06/03/2012 8:09:36 AM PDT by Terry Mross ("It happened. And we let it happen." Peter Griffin - FAMILY GUY)
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To: Georgia Girl 2

We have a Zero water purifier and it is awesome! We’ve got hard water so the filters have to be replaced quite often. But I tore into one and it’s a layer of charcoal and a layer of sand. I’m going to try to make one.


16 posted on 06/03/2012 8:15:58 AM PDT by Terry Mross ("It happened. And we let it happen." Peter Griffin - FAMILY GUY)
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To: Terry Mross

I usually see this negativivity as “scaremongering”. However, it seems that a reset is coming. When? How bad? Prepare as best you can. Large cities will be especially scary. There could be a “zombie” apocolypse in our future. Good shooting, FRiends.


17 posted on 06/03/2012 8:18:08 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: Terry Mross

We have a Berkey and thinking of getting another one. Also making a rocket stove out of #10 cans.


18 posted on 06/03/2012 8:18:40 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: hal ogen

Remember, it has to be a head shot.

Seriously, what if a brain disease destroyed every instinct except walking and eating. Would that be a zombie?


19 posted on 06/03/2012 8:25:10 AM PDT by Terry Mross ("It happened. And we let it happen." Peter Griffin - FAMILY GUY)
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To: Georgia Girl 2

What is a rocket stove?


20 posted on 06/03/2012 8:25:51 AM PDT by Terry Mross ("It happened. And we let it happen." Peter Griffin - FAMILY GUY)
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