The Economic Populist
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On NAFTA - I told ya so gives me no joy
- 15338 reads
China Raises Rates, the World Freaks Out
- 11977 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 184020 reads
Audit the Fed Under Attack
- 30285 reads
Black September
- 64835 reads
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On NAFTA - I told ya so gives me no joy
- 15338 reads
China Raises Rates, the World Freaks Out
- 11977 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 184020 reads
Audit the Fed Under Attack
- 30285 reads
Black September
- 64835 reads
The Golden Rule
- 1826119 reads
Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
- 1215985 reads
New York Post Claims Census Falsifies Unemployment Figures
- 949078 reads
How Many Jobs Are Needed to Keep Up with Population Growth?
- 361599 reads
VAT or Value Added Tax is Getting a Look in D.C.
- 345165 reads
U3 and U6 Unemployment during the Great Depression
- 320765 reads
The war on the middle class
- 314778 reads
House discusses 401k/IRA confiscation
- 313912 reads
Tax Cuts for the Rich Do Not Generate Jobs
- 279572 reads
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what amazes me is that economists on the left who i agree with like Paul Krugman and Robert Reich don't get it...
in fact Robert Reich has a recent post about a potential backlash brewing against free trade from the left and far right tea baggers ... he goes on to say that any type of tariffs will be a repeat of Smoot hawley ...
but in the same breadth claims we need to create good jobs... well of course but what will those jobs be? of course Mr. Reich has no real answer but platitudes
it would be great if wal mart was made to pay middle class wages to its "associates"
this is a new economic model w/o a mfg base... i don't see a returning middle class any time soon .... very very sad indeed
Obama pledged to fix Nafta when he was running for election....has anything been done to fix Nafta ??????? I don't think so. NO MORE FREE TRADE SCAMS FOR THE WORKING CLASS !!
EPI also changes down the "inbetween the lines" real numbers of the uncounted unemployed and estimates the total number of missing workers is now 3.5 million.
Their analysis (longer term, not monthly per say) is here (click here).
Here is the latest unemployment chart, and it's just not budging down:
http://www.hiddenlevers.com/hl/u?bHIITW
Now compare unemployment and the S&P 500 over the last five years:
http://www.hiddenlevers.com/hl/u?akNYT9
The market has rebounded fiercely over the last 18 months while unemployment has been stuck in neutral. In the end, if hiring doesn't improve, unemployment may win this battle. We can't get back to a bull market without job creation and the associated consumer spending and economic growth.
I don't get this, it's just the sales, how about the foreclosures themselves?
misleading? says blocked sales.
Maybe just warning the shell companies would be enough if they were smart of decent. What is about to happen is that lines will be drawn in the data from the hollowed out shell companies to the Federal Election data. FEC data is rich with company names. But just as in 1972, the criminals will figure the voters will be too dumb and lazy to connect corporate contributions with the foul stench emanating from the political campaigns.
Our good friends in the Chamber of Commerce have already been tagged with taking from China and Abu Dabi and funneling it into domestic campaigns. This should enrage at least 90 per cent of the electorate. It will get much more interesting when the connection is made between shell companies, CoC and the politicians.
Census Bureau shows a consistent 4.1 Million Births and 2 million deaths annuslly for over 20 years.
Add Average Legal Immigration of 1 Million and Illegal Immigration of 650K and you get a demand on the labor force of 3.5 Million annually. At some point, the over-medicated population wakes up or starves.
Generally if you see research or any actual databases on how many jobs are offshore outsourced, aggregator, I would like to see it. I cannot prove labor arbitrage in this recession yet but I strongly suspect it writing up all of these reports. Anything that moves us closer to quantifying the numbers is great info!
The AFL-CIO has published a site with a search by zip of all the Corporate Outsourcers. It is heartening to hear the screams from the hangers-ons and defenders of outsourcing. There is said to be resentment, whatever that means.At some point, we cannot say when, society will evolve to the point where labor arbitrage is viewed as an economic equivalent of kidnapping or murder. Or we will enter a new Dark Age.
http://workingamerica.org/jobtracker
The problem is there are too many people and not enough jobs.
Every 12 seconds our population increases by yet another person. Around 1970, total population was at 200 million. A few years ago there was some press about the US passing 300 million. Now we are near 311 million and counting!
US Population Clock
And I believe this includes only a rough estimate of the 15 million or so illegal immigrants ... those that crossed the border illegally or just decided to stay when their visa expired.
At 1 new person every 12 seconds that's 219,000 new persons per month. If we conservatively say that only half of these are working age, then that gives us 105,000 new people being added to the workforce each month.
The US needs to create 105,000 NEW JOBS each month just to keep up with population growth!
The core of US economic problems is there are too many people and not enough jobs.
We are just going to continue to bounce along the floor until the cracks in the are complete and we fall through. The mortgage foreclosure fiasco is probably going to be the one to do it.
I hope to dig deeper into occupation/sector statistics. The BLS report is Friday but something is very smelly here frankly. I expect construction, real estate to lose jobs but manufacturing is another story to me, maybe a very old story, accelerating starting in 2000.
I notice you are commenting a lot, you can create an account and that way bypass all of the system checking to make sure you're a real human, plus additional features allow you to track your comments and replies to your comments.
These numbers are the result of global economic crisis. Every clever state like to save up some savings. But on the other hand, it forgets on a flexible market, which presents a development of economy. I´m a very suprising from financial sector, - 13,000 its a interesting finding. September is usually a critical month for an employment. I believe that next months will be much more better.
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I'm still working on the user rating/content system, mainly I want to take the best comments and highlight them elsewhere, which would be evaluated by ratings.
So, people, a. log in, b. start rating comments and promoting blog posts to the front page you deem worthy.
The weekly series of movies, comics as well as links don't really need to go to the front page, they now have their own separate page for people to easily scroll through all of the videos and comics.
We have more grumblings, political maneuverings on China currency manipulation and after that, of course Geithner said "this takes time".
I think they should just do it, like ripping off a band-aid, apply the tariffs. They could do a scaling on them, whatever but get movin! It's obvious China will never do a damn thing and as it is, they should be preparing for counter moves from China. (I would hope!).
Also, they should be gathering up U.S. multinationals with manufacturing in China, finding out how long it will take for them to move manufacturing back to the United States!
At least he's grumbling.
the culture of homes as gambling chips continues, only now it's the foreclosure/short sale/repossession game. Of course real people living in real houses who are real families out on the street doesn't count again.
This story is huge, every day new details, facts are coming out about foreclosure mills. It's nationwide, our lovely Banksters at the top of the heap (what a surprise).
Wow, this is big. I feel bad for those that have already lost their homes though. I cannot believe that these documents are being signed and she didn't even read them. There are so many crooks out there, you have to read everything before you sign it.
I'm changing the series to OMGs. These are news reports, other posts that I read and know EPers must see these but don't have time to do original writing myself on the topic, or someone else did it so well, it's best to just read them.
I usually say OMG when I find pieces for links to myself, so I figure you will too.
Everyone blogging about this is just talking about it in the context of foreclosures. The reality is, this problem is much, much bigger than foreclosures. It's just that foreclosures are what happens to be occurring right now.
If you are paying on a mortgage that was originated anytime in the last decade, and it has been "sold" a few times to new entities, and you have been switched from one "servicer" to another one a time or three, then it is very likely that the current "owner" of the mortgage doesn't have the note. It may never have left the entity with whom you signed the original paperwork. You could pay this house off and find out you do not have clear title. You could try to sell this house 5 years from now, and find out that you/your mortgagor does not have clear title to transfer to the prospective owner.
This is going to be a really big mess for a really long time.
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