Posted on 08/25/2011 6:06:43 AM PDT by Free Vulcan
New applications for U.S. unemployment compensation rose 5,000 to 417,000 , the Labor Department said Thursday. Initial claims from two weeks ago were revised up to 412,000 from an original reading of 408,000...
The average of new claims over the past four weeks, meanwhile, increased by 4,000 to 407,500...In addition, the Labor Department said the number of Americans who continue to receive state unemployment checks fell by 80,000 to 3.64 million in the week ended Aug 13. Continuing claims are reported with a one-week lag.
(Excerpt) Read more at marketwatch.com ...
Mrs. Prince of Space
Even with debt downgrades virtually outlawed, everyone knows that we’re headed for default. The fun part of the collapse of globalism is near. That’s when the improvised levee against the inevitable bond collapse will give way, and a huge chunk of worthless employees from every level of government will be laid off. Then they’ll have to stay home with their global/service business family members to rule and ruin the roosts.
The only way that the bipartisan rats of corporate government can put it off a little longer, is to hyperinflate, dumping more of the private sector middle class into poverty and further angering their own nation against them. It will be either that, or try to live with their hens pecking them to death in their debt-regime-funded Mcmansions.
Fellow peasants, stock up on popcorn while further preparing. It’s going to be quite a show. And don’t forget to keep something gathering a little interest or increasing value in countries that export the most precious commodities other than food (e.g., oil), because those parts of east Asia are still increasing production after over four years of propaganda saying that they couldn’t.
And remember, those pensions aren’t going to keep coming for long (see bond collapse).
Whether it’s the late twenties or 2005, booming bad investments, seems like they’d thrive. You must save to invest, don’t use the printing press, or a bust will surely follow, an economy depressed.
Your so-called “stimulus” will make things even worse, it’s just more of the same, more incentives perversed. And that credit crunch ain’t a liquidity trap, just a broke banking system, I’m done, that’s a wrap.
-Fear and Boom and Bust. My man Hayek sure had it right.
Conspiracy?
I really wish economists would start using the actual unemployment numbers, not simply excluding those who have given up and the underemployed. According to most recent numbers 14.6 million people are officially jobless, 5.9 million have stopped looking but say they want a job, and 8.5 million are underemployed (working part time but would like to work full time). This adds up to 29 million un/underemployeds, double what the economists claim in unemployment statistics. And the unemployment percentages are drastically worse than depicted.
According to 2009 numbers people under the age of 20 make up 27.3% of the population and those over 65 make up 12.8% which leaves 60% of people between ages 20-65. Although there are people 18-20 and over 65 who can work, there is also a comparable number of people age 20-65 who can’t work because of disabilities. So ultimately I think the 60% rate is appropriate. If you apply 60% to the US population of 312,042,000, you find that there are about 187,225,200 who would be able to work. Now if you take the amount of un/underemployeds (29,000,000) and divide it by this sum (187,225,200) you end up with 0.1548936788423780559454603333312. In other words, actual unemployment is about 15.49%, 170% of the 9.1% reported numbers for July.
In other words, unemployment in Obama’s America is actually essentially 15.5%....
Obama blames George W. Bush, hard working Americans, and just bad luck
Obama blames the internet
Obama Blames Arab Spring and Japan’s Earthquake
Obama Blames Messy Democracy
Obama Blames Politics
Obama Blames ‘Wrangling’
Obama Blames ATMs
Obama Blames Congress Republicans
Obama Blames Washington
Obama blames Bush, Europe
Obama Blames Tea Party and God
Obama Blames “Network of Misinformation”
Obama Blames ‘Splintered’ News Media
Obama blames speculators
Obama Blames Israel
Obama Blames America
Obama Blames Lazy Oil Companies
Obama blames our economy on luck
Obama Blames US High Schools
Obama Blames US ‘Democracy’
Obama Blames the Brass
Obama blames political wrangling
Obama Blames Insufficient Stimulus
Obama now blames poor
Obama Blames Dumb Children
Obama Blames Intelligence
Obama Blames “Twitters” Gaffe On Speechwriter
Obama blames bad weather
Obama blames convenience
Obama blames growing demand in India
=.=
...not quite sure how you could miss Republicans in Congress. And solar flares.
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