I am in IT, and I routinely work 60 hours a week, 20 hours of which is UNPAID.
Here's just a little factual info to back up your excellent point.
A large Financial Company I worked for a few years ago, was doing a multi-year System Redesign project , in which they required every worker to work 72 hours per week ( 12 hours for 6 days ). Only 40 hours was paid of course, so each person worked 32 hours of unpaid work every week. And there were over 300 people on the
project which lasted over 2 years.
Just that one company, which made billions of dollars in profit, could have hired another 300 people for that project alone, but instead they abused their employees and took advantage of the 'exempt employee' status :)
Damn our government. In the GDP report, they annualize trade data, so I'm trying to go from seasonal adjustments, monthly to quarterly that is annualized and I'm missing a formula.
I had, before the Q2 2010 GDP report, it coming in at 1.4-1.7%. That was not with the massive inventory changes as well as the current new massive trade deficit.
So, I'm trying to determine a new guesstimate, and I cannot find the formula they are using to take monthly SA import/export amounts to the annual. I'd guess it's compounded but it's not coming out right here.
Who has the mathematics and it's fine for me if you point to even a Matlab script for this stuff?
Well, that's the problem if your hobby is collecting IOU by exporting real resources to the rest of the world. Your constant worry is that these IOU don't become toxic on the other hand you are always on the lookout to increase return on your IOU. In regard to the US and Fannie Mae / Freddie Mac: nothing will happen. This is IOU in your own sovereign FIAT currency.
If the FED puts $6 Trillion on its balance sheet and decides monthly to write off 5% by hitting the DEL key nobody will even realize what's going on. That's the beauty of a free-floating, non-convertible FIAT currency.
Below someone took the BLS unemployment maps, month per month and made a video out of them. It's like watching the lights go out in America. Stops in May 2010. Bear in mind, this is the official unemployment rate, not the real rate, still horrific.
Adam Smith analyzed Spanish Mercantilism of the 17th Century and concluded that the extraction of gold from the New World and filling the domestic Spanish coffers, when little was manufactured, wrecked the Spanish economy. Most mercantile systems suffer an asset accumulation bubble when the asset class deflates.
So maybe the Fed's game is to take away the $837 billion of U.S. Treasuries from the Chinese? Not so because the Chinese turn U.S. trade paper into new or existing Treasuries when the trade paper is paid. The Fed is accumulating domestic U.S. tresuries while China piles up new U.S. debt.
At the same time a land price bubble of epic proportions is taking old due to commercial buying.
The beginnings of the breaking of the Chinese Bubble are underway. China can spend foreign reserves (U.S.)
and buy more land for factories etc. This will not continue forever and the Chinese banks will suffer the sting of the collapse.
The Fed is selling Mortgage backed and all Asset classes and turning proceeds into Long Term Treasuries. This is great arbitrage but terrible for the economy. The attachment proves that 1) the size of the balance sheet is smaller in all classes but Treasuries and 2) Treasuries are the only asset class growing.
I am not willing to defend the further inflation of housing. There are a thousand other asset classes besided Mortagage backed paper. But all asset classes are shrinking. This has to be deflationary. Even the premise the Fed is using is deflationary per se: lowering interest rates. Mike is right.
the actual amounts will be announced. It's pretty amazing because the Fed is claiming they will "help" the economy, when this won't do anything for jobs.
Did you see the election results today? Bennet has an atrocious voting record on legislation in favor of the U.S. middle class, jobs and I don't know that much about CT but it doesn't look too good.
Instead of getting representatives who are less corrupt it seems we're getting either a choice of the real crazies, (UT) or the bought and paid fors.
This is outstanding. I'm actually going to print it out for further study. What an array.
Let me make sure I get one of the key points:
"The Special I.G.’s report happened to contain the first 'official' mention of the money route from Iraq to Timothy Geithner’s New York Federal Reserve Bank, and back to Iraq’s Trade Bank, whereby 96%, or $8.7 billion, went unaccounted for? (Please remember Timothy Geithner’s name – I will be revisiting his connection to David Rockefeller later on.)"
Money trail: Iraq=>Geithner (NY Fed)=>JP Morgan/Rockefeller interest (Trade Bank of Iraq).
If the money got from Iraq to the NY Fed (there's no disagreement on that), then it disappeared in either Geithner's Fed or JP Morgan's Iraq Trade Bank. It sounds to me like that solves the mystery.
This is a huge scandal so naturally it isn't covered.
Comment: Zelikow's involvement with this explains why they "trusted" him to give 110% to foil a real investigation by the 9/11 Commission. I've been wondering how they got him to sacrifice his name to that massive betrayal, which is already well known thanks to the book on the commission.
Question: Kaiser and Parton. My assumption is that Kaiser got wind of the fraud of the investigation from Parton and wasn't willing to take part (read, she has her own money). They fled to Montana where we can watch the news for an 'accident.'
This is just another day in 'the days of our lives' as we're crushed by these people who produce nothing but take everything.
"The Purchase of Offshore Services with Public Funds Undermines Economic Development and expenditure of public funds and also undermines efforts to attract businesses to Ohio and retain them in Ohio, initiatives in which the State has invested heavily."
Good 'ol Ted, who you might even say knows more than one way to skin the American worker and recruit enterprising H-1B visa holders to his State and grab votes in November all at the same time!
Indeed, the state of Ohio has "invested heavily" in attracting businesses to Ohio.
Like "enticing" (to use his term) Indian foreign IT outsourcing giant Tata Consultancy Services (TCS) to open up shop in Cincinnati by throwing $19 million in tax credits at them. Lucky TCS!
Now, if the generous Governor Strickland would only "ban" himself from enticing foreign outsourcing companies to reap the profitable rewards of Ohio taxpayer money and recruit American IT firms that don't use H-1B visa holders and hire American contractors instead, his approval ratings might actually soar. On the other hand, they probably will anyway with this latest press release to ban offshore outsourcing...it sounds great. Really.
What I don't get is this: Why does Strickland think he has to "beg" India for jobs? Surely, if Ohio doesn't manufacture much of anything anymore, shouldn't services like IT be performed by local techies (citizens)?
Ohio Governor Ted Strickland Woos TCS, Presses India for Jobs
Isn't it all Monopoly money, though? We're talking about trillions of dollars that don't really exist. When formal the formal money supply collapses (which it has) ordinary people create local currency and bartering systems (which they're doing). They are also withdrawing their money from corporate banks and putting it in local banks and credit unions. And in a number of states they are creating their own state-owned banks (like North Dakota) so they don't have to rely on the corrupt money changers any longer. I blog about this and other radical common sense solutions at http://stuartbramhall.aegauthorblogs.com
You need to step back and try to stop being so ultra-senstive all the time.
I am attacking the nonsensical usage of the PopNeoCulture and PreProgrammed "Consiracy Theory" phrase -- from the Edward Bernays disinformation model. It ranks of a complete lack of any analytical thinking whatsoever!
You and anyone else who refused to use those neurons can't keep bringing that phrase to bear when the discussion concerns criminal conspiracies, which is bolstered by pointing out previous criminal conspiracies by the same culprits.
Ever heard of logic?????
Ever heard of rhetoric???
Evidently not.
Anyway, this will be my last post here so kindly quit bugging me to keep posting here!
I'm sorry this is something like the 4th time where you have attacked me and I'm really not amused. I am not the enemy. Did I say your post was a CT? No. It's a general comment on how these things happen.
The rules of EP are NO PERSONAL ATTACKS, yet you continue to attack me, personal insults! and I am this sites main writer, owner, coder and admin.
I really am not interested in creating a space for authors so someone can insult and name call me over the least little thing and not even understanding what I'm saying as a general rule.
The very fact you have to fall back on that "conspiracy theory" nonsense suggests already how pre-programmed, propagandized, and weak of mind you are.
Now go back and note where I've mentioned the criminal conspiracies which corporate entities have been convicted of.
Can you count them? Can you even count? A serious question as you've apparently not comprehended those criminal conspiracies noted.
Read real slooowly this time.
Perhaps you are simply challenged in reading comprehension and don't fully understand what a criminal conspiracy is. (Highly involved and circuitous financial fraud requires considerable planning. Try it sometime.)
I have a tendency to believe when it comes to herd behavior, even among elites, they act more like a pack of wolves than any conscious, targeted strategy.
Similar to genocide, it's only a large social group who can go so amoral and commit horrendous acts. Individuals acting alone, you might get a few serial killers out of the pack, but most would never behave in such a manner.
So, in other words, the sociological pack or body, acts and it's not a conscious, well planned action.
It's kind of the same thing in crowds, individuals would never stampede others, yet a crowd of people...will...
it's like a different animal. This is where I think conspiracy theory gets lost. They think so much is conscious, directed, planned and many events go under that herd, pack of wolves, sociological mass behavior, so it's behavioral vs. conscious, planned choices.
My 2¢ on how we get a few elites running the universe and hurting the national economy.
Non accountable funds? Shrink-wrapped bundles of $100 bills? (straight from the Federal Reserve) Black budgets? Outsourcing government to conduct a war? Why are we surprised that these sumps of money disappear?
Back during WWII, David Rockefeller was in the OSS. At the training station (Vint Hill Farm), he was assigned to teach a trade-craft course -- How to pick pockets.
Now picture this kind of trade craft using computers and non-accountable funds, and financial elites in control.
The list details are here.
Does anybody remember the website made for (and by?) IT workers who had gotten their jobs outsourced?
GREAT comment Mr Anonymous !!
I am in IT, and I routinely work 60 hours a week, 20 hours of which is UNPAID.
Here's just a little factual info to back up your excellent point.
A large Financial Company I worked for a few years ago, was doing a multi-year System Redesign project , in which they required every worker to work 72 hours per week ( 12 hours for 6 days ). Only 40 hours was paid of course, so each person worked 32 hours of unpaid work every week. And there were over 300 people on the
project which lasted over 2 years.
Just that one company, which made billions of dollars in profit, could have hired another 300 people for that project alone, but instead they abused their employees and took advantage of the 'exempt employee' status :)
Damn our government. In the GDP report, they annualize trade data, so I'm trying to go from seasonal adjustments, monthly to quarterly that is annualized and I'm missing a formula.
I had, before the Q2 2010 GDP report, it coming in at 1.4-1.7%. That was not with the massive inventory changes as well as the current new massive trade deficit.
So, I'm trying to determine a new guesstimate, and I cannot find the formula they are using to take monthly SA import/export amounts to the annual. I'd guess it's compounded but it's not coming out right here.
Who has the mathematics and it's fine for me if you point to even a Matlab script for this stuff?
Well, that's the problem if your hobby is collecting IOU by exporting real resources to the rest of the world. Your constant worry is that these IOU don't become toxic on the other hand you are always on the lookout to increase return on your IOU. In regard to the US and Fannie Mae / Freddie Mac: nothing will happen. This is IOU in your own sovereign FIAT currency.
If the FED puts $6 Trillion on its balance sheet and decides monthly to write off 5% by hitting the DEL key nobody will even realize what's going on. That's the beauty of a free-floating, non-convertible FIAT currency.
Because while they prop up the U.S. economy, they are developing their own domestic middle class and thus economy.
There are 1.4 billion people in China, in comparison to the U.S. 307 million. They are also developing other economies...
Their timing is incredible and that's because they have an economic strategy team.
We're just trading places, we become 3rd world, they become the most powerful economy.
Below someone took the BLS unemployment maps, month per month and made a video out of them. It's like watching the lights go out in America. Stops in May 2010. Bear in mind, this is the official unemployment rate, not the real rate, still horrific.
Adam Smith analyzed Spanish Mercantilism of the 17th Century and concluded that the extraction of gold from the New World and filling the domestic Spanish coffers, when little was manufactured, wrecked the Spanish economy. Most mercantile systems suffer an asset accumulation bubble when the asset class deflates.
So maybe the Fed's game is to take away the $837 billion of U.S. Treasuries from the Chinese? Not so because the Chinese turn U.S. trade paper into new or existing Treasuries when the trade paper is paid. The Fed is accumulating domestic U.S. tresuries while China piles up new U.S. debt.
At the same time a land price bubble of epic proportions is taking old due to commercial buying.
The beginnings of the breaking of the Chinese Bubble are underway. China can spend foreign reserves (U.S.)
and buy more land for factories etc. This will not continue forever and the Chinese banks will suffer the sting of the collapse.
The Fed is selling Mortgage backed and all Asset classes and turning proceeds into Long Term Treasuries. This is great arbitrage but terrible for the economy. The attachment proves that 1) the size of the balance sheet is smaller in all classes but Treasuries and 2) Treasuries are the only asset class growing.
I am not willing to defend the further inflation of housing. There are a thousand other asset classes besided Mortagage backed paper. But all asset classes are shrinking. This has to be deflationary. Even the premise the Fed is using is deflationary per se: lowering interest rates. Mike is right.
the actual amounts will be announced. It's pretty amazing because the Fed is claiming they will "help" the economy, when this won't do anything for jobs.
Did you see the election results today? Bennet has an atrocious voting record on legislation in favor of the U.S. middle class, jobs and I don't know that much about CT but it doesn't look too good.
Instead of getting representatives who are less corrupt it seems we're getting either a choice of the real crazies, (UT) or the bought and paid fors.
This is outstanding. I'm actually going to print it out for further study. What an array.
Let me make sure I get one of the key points:
"The Special I.G.’s report happened to contain the first 'official' mention of the money route from Iraq to Timothy Geithner’s New York Federal Reserve Bank, and back to Iraq’s Trade Bank, whereby 96%, or $8.7 billion, went unaccounted for? (Please remember Timothy Geithner’s name – I will be revisiting his connection to David Rockefeller later on.)"
Money trail: Iraq=>Geithner (NY Fed)=>JP Morgan/Rockefeller interest (Trade Bank of Iraq).
If the money got from Iraq to the NY Fed (there's no disagreement on that), then it disappeared in either Geithner's Fed or JP Morgan's Iraq Trade Bank. It sounds to me like that solves the mystery.
This is a huge scandal so naturally it isn't covered.
Comment: Zelikow's involvement with this explains why they "trusted" him to give 110% to foil a real investigation by the 9/11 Commission. I've been wondering how they got him to sacrifice his name to that massive betrayal, which is already well known thanks to the book on the commission.
Question: Kaiser and Parton. My assumption is that Kaiser got wind of the fraud of the investigation from Parton and wasn't willing to take part (read, she has her own money). They fled to Montana where we can watch the news for an 'accident.'
This is just another day in 'the days of our lives' as we're crushed by these people who produce nothing but take everything.
"The Purchase of Offshore Services with Public Funds Undermines Economic Development and expenditure of public funds and also undermines efforts to attract businesses to Ohio and retain them in Ohio, initiatives in which the State has invested heavily."
Good 'ol Ted, who you might even say knows more than one way to skin the American worker and recruit enterprising H-1B visa holders to his State and grab votes in November all at the same time!
Indeed, the state of Ohio has "invested heavily" in attracting businesses to Ohio.
Like "enticing" (to use his term) Indian foreign IT outsourcing giant Tata Consultancy Services (TCS) to open up shop in Cincinnati by throwing $19 million in tax credits at them. Lucky TCS!
Now, if the generous Governor Strickland would only "ban" himself from enticing foreign outsourcing companies to reap the profitable rewards of Ohio taxpayer money and recruit American IT firms that don't use H-1B visa holders and hire American contractors instead, his approval ratings might actually soar. On the other hand, they probably will anyway with this latest press release to ban offshore outsourcing...it sounds great. Really.
What I don't get is this: Why does Strickland think he has to "beg" India for jobs? Surely, if Ohio doesn't manufacture much of anything anymore, shouldn't services like IT be performed by local techies (citizens)?
Ohio Governor Ted Strickland Woos TCS, Presses India for Jobs
http://tootruthy.blogspot.com/2010/02/ohio-governor-ted-strickland-woos-...
Finally, a government official - an elected leader - does the right thing for the citizens that elected him. This is great news. There is hope.
Isn't it all Monopoly money, though? We're talking about trillions of dollars that don't really exist. When formal the formal money supply collapses (which it has) ordinary people create local currency and bartering systems (which they're doing). They are also withdrawing their money from corporate banks and putting it in local banks and credit unions. And in a number of states they are creating their own state-owned banks (like North Dakota) so they don't have to rely on the corrupt money changers any longer. I blog about this and other radical common sense solutions at http://stuartbramhall.aegauthorblogs.com
All, please read the FAQ,
and there are more issues in the admin forum.
Bottom line, name calling, direct personal attack, insults are unacceptable and inappropriate for this site.
The idea is to put the focus on facts and the topic at hand.
You need to step back and try to stop being so ultra-senstive all the time.
I am attacking the nonsensical usage of the PopNeoCulture and PreProgrammed "Consiracy Theory" phrase -- from the Edward Bernays disinformation model. It ranks of a complete lack of any analytical thinking whatsoever!
You and anyone else who refused to use those neurons can't keep bringing that phrase to bear when the discussion concerns criminal conspiracies, which is bolstered by pointing out previous criminal conspiracies by the same culprits.
Ever heard of logic?????
Ever heard of rhetoric???
Evidently not.
Anyway, this will be my last post here so kindly quit bugging me to keep posting here!
I'm sorry this is something like the 4th time where you have attacked me and I'm really not amused. I am not the enemy. Did I say your post was a CT? No. It's a general comment on how these things happen.
The rules of EP are NO PERSONAL ATTACKS, yet you continue to attack me, personal insults! and I am this sites main writer, owner, coder and admin.
I really am not interested in creating a space for authors so someone can insult and name call me over the least little thing and not even understanding what I'm saying as a general rule.
The very fact you have to fall back on that "conspiracy theory" nonsense suggests already how pre-programmed, propagandized, and weak of mind you are.
Now go back and note where I've mentioned the criminal conspiracies which corporate entities have been convicted of.
Can you count them? Can you even count? A serious question as you've apparently not comprehended those criminal conspiracies noted.
Read real slooowly this time.
Perhaps you are simply challenged in reading comprehension and don't fully understand what a criminal conspiracy is. (Highly involved and circuitous financial fraud requires considerable planning. Try it sometime.)
I have a tendency to believe when it comes to herd behavior, even among elites, they act more like a pack of wolves than any conscious, targeted strategy.
Similar to genocide, it's only a large social group who can go so amoral and commit horrendous acts. Individuals acting alone, you might get a few serial killers out of the pack, but most would never behave in such a manner.
So, in other words, the sociological pack or body, acts and it's not a conscious, well planned action.
It's kind of the same thing in crowds, individuals would never stampede others, yet a crowd of people...will...
it's like a different animal. This is where I think conspiracy theory gets lost. They think so much is conscious, directed, planned and many events go under that herd, pack of wolves, sociological mass behavior, so it's behavioral vs. conscious, planned choices.
My 2¢ on how we get a few elites running the universe and hurting the national economy.
Non accountable funds? Shrink-wrapped bundles of $100 bills? (straight from the Federal Reserve) Black budgets? Outsourcing government to conduct a war? Why are we surprised that these sumps of money disappear?
Back during WWII, David Rockefeller was in the OSS. At the training station (Vint Hill Farm), he was assigned to teach a trade-craft course -- How to pick pockets.
Now picture this kind of trade craft using computers and non-accountable funds, and financial elites in control.
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