Even though this artcle was personally outragous to me because the information revealed just how deeply corrupt many of our politians,jurists,lawyers,bankers,and the elite-wealthy are; the one hopeful sign in this disaster-laden documentary is this: the irony in all of this is that no matter how much corruption,bribery of Congress, pushing the illegal toxic MBS'and a host of other illegal practices associated with this
deluge of misconduct, the fact that despite all of their cunning and craftiness,they overlooked the real weakness and their achilles heal with the fictionalized MERS,Inc.device.
Let's hope all of the viewers of this article will send it to every newspaper and members of Congress we can.
This post, also does a good job in showing it's false, but I must say, even before the BLS revisions to the birth/death model, that claim there was a "skills mismatch" was simply not in the numbers, but now it's very clear it's not.
This is also important for the never ending demand of more foreign guest workers and offshore outsourcing.
That is used by lobbyists repeatedly as an excuse. But the reality is America's high tech industry, industry was built up by Americans.
To get that, one has to enable, hire, support, train the U.S., labor force. Since they want to treat all of America as disposable labor, even to get a college degree puts the average student over $22k in debt, right out of the gate, surprise, surprise....
you get what you pay for. High Tech used to send STEM to college, full free ride to graduate school for those who had ability. All companies had paid training.
I mean hot damn, WWII they had to train everybody, you had people who had never touched anything mechanical building ships and airplanes.
Exposing this nonsense is a long time coming. It's an excuse to labor arbitrage, pure and simple and not invest and support the U.S. labor force.
So, we have a lack of skills in America? In reality, most of the technology and innovations used around the globe, are products of The United States of America. In America, we have some of the most educated and brilliant minds that can be found anywhere. Our workforce has laid the foundation and created the standards for products manufactured around the world.
The problem is NOT one of skills, but rather it's one of "living standards". The American worker can NOT work and be self-supporting by making $10.00 a month in wages. Our "living standards" do NOT allow us to work for "third world" wages. Our workforce simply can NOT compete with cheap foreign labor markets. Our workforce can NOT compete with child labor working in sweat shops.
The obvious evidence that supports the above statements is our "import dependency". Over the past several decades, we've lost the textile, steel, electronics, automotive, furniture, tool, toy, housewares, hardware, and plastics industries to cheap foreign labor markets. We even import food products such as produce, nuts, coffee, fish, beef, and may others.
We have the skills necessary to be a "self-supporting workforce and economy", but we lack the backing and support of those that make the rules of the game. And, those that make the rules, wins the game. Now, guess who makes the rules of the game.
It always amazes me that many many report the news concerning our many economic woes, report stats and trends, but almost never point a finger at the villains and anti-America crooks responsible for our troubles. Go figure.
We do NOT have a shortage of skills in this country, nor in our workforce. The American worker can produce as well as any workforce anywhere. I totally agree that the problem is NOT a lack of skills. The only problem our workforce has, is a lack of living wage opportunities that cover all education and skill levels. The sole reason for extremely high unemployment in this country, is "our dependency on, and addiction to, cheap foreign imports". And, the sole reason for that dependency and addiction, is our unfair, unjust, and one-sided anti-America foreign trade agreements and policies. In addition, corporate greed and unpenalized job out-sourcing to foreign labor markets negatively influence our labor market.
We can summarize our unemployment crisis by say that "America no longer produces what America uses and consumes". We've spent decades supporting foreign economies at the expense of our own. And now, the chickens have come home to roost.
Our unemployment crisis is a direct result of actions and inaction on the part of those that we've entrusted with the well-being of this once great nation and her citizens. The American workforce did NOT vote to send our jobs to foreign labor markets. The American workforce did NOT voluntarily close our plants and factories, and consent to job-killers such as NAFTA, CAFTA, and other anti-America economic destroyers.
The solution and "common sense" fix, is to put America back to work, producing what America uses and consumes. This can be accomplished by enacting and enforcing "fair, equal, and balanced foreign trade agreements and policies". In addition, we must penalize job out-sourcing and companies that relocate out-side of our borders.
But, we can't correct our problems until we cut off the head of the snake. That snake is the anti-America Washington Brotherhood. They have, and will continue to sell this country out and impose economic devastation, unless we, the voters, wake-up and smell the coffee.
Our rapidly growing population demands living wage opportunities that cover all education and skill levels. Where will those living wage jobs come from? They'll come from America producing what America uses and consumes, or they won't come at all.
Assuming your job does not get sent to India. Assuming you do not have a heart attack. Assuming your spouse does not divorce you or die. Assuming you do not get transfered to another state.
If your house was not misrepresented, assuming the banksters did not create a bubble. Screw the banks, do not bend over. If the government had any balls, we would have a period of amnesty for "debt forgiveness," and principal reset. Otherwise, the economy is locked up.
It's not just Rajaratnam -- get the pitchforks out and put the banksters backs to the wall. I have it good authority that a lot of indictments are on the way for the corporate fraudsters. Couldn't happen to a nicer bunch.
Ok, on all things housing, residential real estate, I think Calculated Risk has consistently given the more accurate analysis and forecasts.
That said, the U.S. data, S&P Case-Shiller, most economists who track housing are all saying residential real estate went into a double dip.
Zillow's data matches other reports. So, ya know, I bet there are a good 1 million people in the United States who have economics course work, I don't know the size of the professional field, but I'll bet it hits around that number.
Calculated Risk has to be one of the most data driven blogs. I know because I too calculate out a few things from the data and am in contact with Bill, know he is cranking numbers from correct analysis, correct formulas.
In other words, if you have doubts, check Calculated Risk and in terms of the press who mostly get it right on economic reports, I'd have to say that's MarketWatch.
Sometimes the press gets it wrong, which is why I go through this data directly.
Now on that "stuff", I just read, I'm sorry but well, that's probably why we all part ways. People who think they see all, usually see nothing for they are blinded by the reflection of their own brilliance in the mirror.
i.e. someone isn't paying attention to the demand side of the equation, called per capita income, which Zillow, Case-Shiller, all, even Ben Bernanke, mention.
I see that this article was posted on 5/9 and I just got to it today 5/11. That makes it an especially interesting article for me because just today over at Bonddad, New Deal Democrat has one his usual sophomoric snotty articles in response to a housing article over at Daily Kos.
The housing market today is literally unprecedented in history and it’s subject to many interpretations. As anyone who has been following it low these many years knows and R. Oak points out above. But, the Bonddad blog seems to go out of its way to tell readers how much smarter they are than other bloggers and commentators. It seems to be an attention getting device. Now they have moved into Bran DeLong criticism.
That's why I appreciate EP. It's not shy about criticism; but it does so professionally and doesn't sound like a wise ass kid in junior high.
The lawyers are also saying that under this ruling, MERS has no standing at all in Michigan, and that any foreclosures that were carried out by MERS or in the processes of being carried out by MERS are null and void.
What a delusion. Look, I buy a house, I secure funding, and someone sells me the house for an agreed-upon price. I pay my mortgage payment, and in 30 years the house is owned by me, free and clear. Who cares about MERS? Just make the payments you agreed to make, when you signed the paperwork, and the house will be yours. Sheesh
The reality is only domestic business, those without teams of CPAs, tax attorneys and moving funds, now derivatives (reference to FX swaps), around the globe with creation of fictional holding companies to move patents and assets in various countries and tax havens more of their business than making things.
It is the self-employed, the LLC, the small corporations who are getting hammered, long with the middle class and working poor.
but that's not seasonally adjusted so you have to seasonally adjust and it's not considered part of the labor force. That said, it's the participation rate and we have various people trying to claim it's the baby boomers retiring that it is so low but I don't think so.
Firstly, baby boomers were wiped out, multiple, so many cannot retire at all and then if one looks at labor participate per age group, that too has declined dramatically.
I've got about 4.5 million no where in the count who assuredly need a job. (that's the U-6 count).
This is the reality we face, not the PR lies from the usual suspects.
We live in a dead zone economy. There have been no net new jobs since 2000, adjusted for population growth. In fact, there's a significant decline. The "official" unemployment figures show a work force of 154 million, with 138 million or so employed (compared to 135 million employed with a 143 million job force in 2000).
But help me here. If we use U6, which is the figure to use, imho, what would the workforce size be? (Is this an albegra problem;)
The final indignity is the finding in Porter's very detailed and well constructed study - 50% of approved creditor filings are lacking in one of more pieces of legally required documentation. It seems easy for creditors to challenge a technical error on the part debtors but impossible for judges and bankruptcy attorneys to notice the most fundamental fact about creditor filings.
It is interesting to look at the Senators who voted for this: all Republicans plus about 14 Democrats including Carper and Biden (DE) and Reid (NV). It was so bad that Lieberman voted against it!
That was left out and I corrected it. The GAO studied this and found that credit counseling has little impact on much of anything, thus is another delay tactic.
I have a hard time sympathizing with any bankruptcy judges, however. They should express their sympathy by discharging the 50% of creditor claims that are lacking in required documentation (but this is hardly ever done). Creditors have huge resources and there is no excuse for not having the legally required documents. Creditors can demand that a debtor filing be thrown out for simple "abuse." But the law requires the rejection of creditor claims for outright insufficient documentation. Why isn't this done by the sympathetic judges.
Business Insider has a post here, that says the reason commodities tanked is because Geithner only exempted FX swaps and forwards, implying energy futures and commodities futures would be OTC and subject to regulation.
The effect is making Bin Laden "larger than life". They do the same thing with serial killers and such.
It should be "another scum bag dead", lets move on, get the next one, with the focus being in the insanity of convincing young men to kill themselves and commit mass murder.
Really reminds me of cult leaders in the 70's, 80's.
When any leaks though of technology happen, while I rail on the DoD budget, some of this is amazingly way cool and more the types of technology I thought they should be working on instead of these large military level operations vehicles.
But what the hey, China assuredly already knows most of those secrets anyway.
It's also a great smoke screen to ignore the fact both parties ignore the jobs crisis in the United States with "solutions" that will make the situation worse.
The media has caught on to the story and press every national security source in the Administration to disclose more details of our counter-terrorist strategy. It may make for a news story, but it undermines our operations by giving the enemy insight they may never attain otherwise.
What we know and how we know it is classified for good reason.
Even though this artcle was personally outragous to me because the information revealed just how deeply corrupt many of our politians,jurists,lawyers,bankers,and the elite-wealthy are; the one hopeful sign in this disaster-laden documentary is this: the irony in all of this is that no matter how much corruption,bribery of Congress, pushing the illegal toxic MBS'and a host of other illegal practices associated with this
deluge of misconduct, the fact that despite all of their cunning and craftiness,they overlooked the real weakness and their achilles heal with the fictionalized MERS,Inc.device.
Let's hope all of the viewers of this article will send it to every newspaper and members of Congress we can.
This post, also does a good job in showing it's false, but I must say, even before the BLS revisions to the birth/death model, that claim there was a "skills mismatch" was simply not in the numbers, but now it's very clear it's not.
This is also important for the never ending demand of more foreign guest workers and offshore outsourcing.
That is used by lobbyists repeatedly as an excuse. But the reality is America's high tech industry, industry was built up by Americans.
To get that, one has to enable, hire, support, train the U.S., labor force. Since they want to treat all of America as disposable labor, even to get a college degree puts the average student over $22k in debt, right out of the gate, surprise, surprise....
you get what you pay for. High Tech used to send STEM to college, full free ride to graduate school for those who had ability. All companies had paid training.
I mean hot damn, WWII they had to train everybody, you had people who had never touched anything mechanical building ships and airplanes.
Exposing this nonsense is a long time coming. It's an excuse to labor arbitrage, pure and simple and not invest and support the U.S. labor force.
So, we have a lack of skills in America? In reality, most of the technology and innovations used around the globe, are products of The United States of America. In America, we have some of the most educated and brilliant minds that can be found anywhere. Our workforce has laid the foundation and created the standards for products manufactured around the world.
The problem is NOT one of skills, but rather it's one of "living standards". The American worker can NOT work and be self-supporting by making $10.00 a month in wages. Our "living standards" do NOT allow us to work for "third world" wages. Our workforce simply can NOT compete with cheap foreign labor markets. Our workforce can NOT compete with child labor working in sweat shops.
The obvious evidence that supports the above statements is our "import dependency". Over the past several decades, we've lost the textile, steel, electronics, automotive, furniture, tool, toy, housewares, hardware, and plastics industries to cheap foreign labor markets. We even import food products such as produce, nuts, coffee, fish, beef, and may others.
We have the skills necessary to be a "self-supporting workforce and economy", but we lack the backing and support of those that make the rules of the game. And, those that make the rules, wins the game. Now, guess who makes the rules of the game.
It always amazes me that many many report the news concerning our many economic woes, report stats and trends, but almost never point a finger at the villains and anti-America crooks responsible for our troubles. Go figure.
We do NOT have a shortage of skills in this country, nor in our workforce. The American worker can produce as well as any workforce anywhere. I totally agree that the problem is NOT a lack of skills. The only problem our workforce has, is a lack of living wage opportunities that cover all education and skill levels. The sole reason for extremely high unemployment in this country, is "our dependency on, and addiction to, cheap foreign imports". And, the sole reason for that dependency and addiction, is our unfair, unjust, and one-sided anti-America foreign trade agreements and policies. In addition, corporate greed and unpenalized job out-sourcing to foreign labor markets negatively influence our labor market.
We can summarize our unemployment crisis by say that "America no longer produces what America uses and consumes". We've spent decades supporting foreign economies at the expense of our own. And now, the chickens have come home to roost.
Our unemployment crisis is a direct result of actions and inaction on the part of those that we've entrusted with the well-being of this once great nation and her citizens. The American workforce did NOT vote to send our jobs to foreign labor markets. The American workforce did NOT voluntarily close our plants and factories, and consent to job-killers such as NAFTA, CAFTA, and other anti-America economic destroyers.
The solution and "common sense" fix, is to put America back to work, producing what America uses and consumes. This can be accomplished by enacting and enforcing "fair, equal, and balanced foreign trade agreements and policies". In addition, we must penalize job out-sourcing and companies that relocate out-side of our borders.
But, we can't correct our problems until we cut off the head of the snake. That snake is the anti-America Washington Brotherhood. They have, and will continue to sell this country out and impose economic devastation, unless we, the voters, wake-up and smell the coffee.
Our rapidly growing population demands living wage opportunities that cover all education and skill levels. Where will those living wage jobs come from? They'll come from America producing what America uses and consumes, or they won't come at all.
market watch. While some good news the real ones that should be prosecuted never are.
I think all of America has been waiting for some criminal charges or something, some sort of justice.
Assuming your job does not get sent to India. Assuming you do not have a heart attack. Assuming your spouse does not divorce you or die. Assuming you do not get transfered to another state.
If your house was not misrepresented, assuming the banksters did not create a bubble. Screw the banks, do not bend over. If the government had any balls, we would have a period of amnesty for "debt forgiveness," and principal reset. Otherwise, the economy is locked up.
It's not just Rajaratnam -- get the pitchforks out and put the banksters backs to the wall. I have it good authority that a lot of indictments are on the way for the corporate fraudsters. Couldn't happen to a nicer bunch.
Ok, on all things housing, residential real estate, I think Calculated Risk has consistently given the more accurate analysis and forecasts.
That said, the U.S. data, S&P Case-Shiller, most economists who track housing are all saying residential real estate went into a double dip.
Zillow's data matches other reports. So, ya know, I bet there are a good 1 million people in the United States who have economics course work, I don't know the size of the professional field, but I'll bet it hits around that number.
Calculated Risk has to be one of the most data driven blogs. I know because I too calculate out a few things from the data and am in contact with Bill, know he is cranking numbers from correct analysis, correct formulas.
In other words, if you have doubts, check Calculated Risk and in terms of the press who mostly get it right on economic reports, I'd have to say that's MarketWatch.
Sometimes the press gets it wrong, which is why I go through this data directly.
Now on that "stuff", I just read, I'm sorry but well, that's probably why we all part ways. People who think they see all, usually see nothing for they are blinded by the reflection of their own brilliance in the mirror.
i.e. someone isn't paying attention to the demand side of the equation, called per capita income, which Zillow, Case-Shiller, all, even Ben Bernanke, mention.
Honestly, we're just like you, working hard to figure it out, but by the numbers and the data.
I'll have to go see what this latest "green shoots" are.
I see that this article was posted on 5/9 and I just got to it today 5/11. That makes it an especially interesting article for me because just today over at Bonddad, New Deal Democrat has one his usual sophomoric snotty articles in response to a housing article over at Daily Kos.
The housing market today is literally unprecedented in history and it’s subject to many interpretations. As anyone who has been following it low these many years knows and R. Oak points out above. But, the Bonddad blog seems to go out of its way to tell readers how much smarter they are than other bloggers and commentators. It seems to be an attention getting device. Now they have moved into Bran DeLong criticism.
That's why I appreciate EP. It's not shy about criticism; but it does so professionally and doesn't sound like a wise ass kid in junior high.
From your link:
The lawyers are also saying that under this ruling, MERS has no standing at all in Michigan, and that any foreclosures that were carried out by MERS or in the processes of being carried out by MERS are null and void.
What a delusion. Look, I buy a house, I secure funding, and someone sells me the house for an agreed-upon price. I pay my mortgage payment, and in 30 years the house is owned by me, free and clear. Who cares about MERS? Just make the payments you agreed to make, when you signed the paperwork, and the house will be yours. Sheesh
The reality is only domestic business, those without teams of CPAs, tax attorneys and moving funds, now derivatives (reference to FX swaps), around the globe with creation of fictional holding companies to move patents and assets in various countries and tax havens more of their business than making things.
It is the self-employed, the LLC, the small corporations who are getting hammered, long with the middle class and working poor.
Great references Michael Collins!
but that's not seasonally adjusted so you have to seasonally adjust and it's not considered part of the labor force. That said, it's the participation rate and we have various people trying to claim it's the baby boomers retiring that it is so low but I don't think so.
Firstly, baby boomers were wiped out, multiple, so many cannot retire at all and then if one looks at labor participate per age group, that too has declined dramatically.
I've got about 4.5 million no where in the count who assuredly need a job. (that's the U-6 count).
This is the reality we face, not the PR lies from the usual suspects.
We live in a dead zone economy. There have been no net new jobs since 2000, adjusted for population growth. In fact, there's a significant decline. The "official" unemployment figures show a work force of 154 million, with 138 million or so employed (compared to 135 million employed with a 143 million job force in 2000).
But help me here. If we use U6, which is the figure to use, imho, what would the workforce size be? (Is this an albegra problem;)
(I added "wigtin" above)
The final indignity is the finding in Porter's very detailed and well constructed study - 50% of approved creditor filings are lacking in one of more pieces of legally required documentation. It seems easy for creditors to challenge a technical error on the part debtors but impossible for judges and bankruptcy attorneys to notice the most fundamental fact about creditor filings.
It is interesting to look at the Senators who voted for this: all Republicans plus about 14 Democrats including Carper and Biden (DE) and Reid (NV). It was so bad that Lieberman voted against it!
That was left out and I corrected it. The GAO studied this and found that credit counseling has little impact on much of anything, thus is another delay tactic.
I have a hard time sympathizing with any bankruptcy judges, however. They should express their sympathy by discharging the 50% of creditor claims that are lacking in required documentation (but this is hardly ever done). Creditors have huge resources and there is no excuse for not having the legally required documents. Creditors can demand that a debtor filing be thrown out for simple "abuse." But the law requires the rejection of creditor claims for outright insufficient documentation. Why isn't this done by the sympathetic judges.
Business Insider has a post here, that says the reason commodities tanked is because Geithner only exempted FX swaps and forwards, implying energy futures and commodities futures would be OTC and subject to regulation.
The effect is making Bin Laden "larger than life". They do the same thing with serial killers and such.
It should be "another scum bag dead", lets move on, get the next one, with the focus being in the insanity of convincing young men to kill themselves and commit mass murder.
Really reminds me of cult leaders in the 70's, 80's.
When any leaks though of technology happen, while I rail on the DoD budget, some of this is amazingly way cool and more the types of technology I thought they should be working on instead of these large military level operations vehicles.
But what the hey, China assuredly already knows most of those secrets anyway.
It's also a great smoke screen to ignore the fact both parties ignore the jobs crisis in the United States with "solutions" that will make the situation worse.
The media has caught on to the story and press every national security source in the Administration to disclose more details of our counter-terrorist strategy. It may make for a news story, but it undermines our operations by giving the enemy insight they may never attain otherwise.
What we know and how we know it is classified for good reason.
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