Yet in spite of the wild swings, as a slope, or rate of increase, those not in the labor force grew faster than the population that has the potential to work. Below is a graph of those not in the labor force, (maroon, scale on the left), against the noninstitutional civilian population (blue, scale on the right). Notice how those not in the labor force crosses the noninstitutional civilian population in growth and the accelerated growth started happening right in 2008. This cannot possibly be retirees, all at once and instead a segment of those not in the labor force simply do need work and are not being counted in the official unemployment statistics.
A NATION WITHOUT LIBERTY IS A NATION WITHOUT PROSPERITY.
The other factors other than re-entrance into the job market. Re-entrance increase signifcantly and the workforce participation rate declines. What is missing from this picture. For comparitive econimcs, USA has one of the lowest OECD labor participation rates. The most comparable economy, Australia, has a 66.3%rate. We could compare the US to Germany or Switzerland, nations, democratic nations whose police have no unquestioned juridical right to read your email, phone records, without help of our intelligence agencies.
Other actual republics whose legislatures have the right to question entrance into wars.Nations like Switzerland , with a 83% labor participation rate. Or even Germany with 78% labor participation rate.
My criticism of Snowden was that he was too tame in criticizing the BEAST, which affords us neither liberty not properity. Yet the BEAST pleads for it's unconstititutional entrusions. Let me remind those with short memories of Daniel Elsberg's revalation of the Penatagon Papers. Daniel revealed how the Pentagon deceived each POTUS from Truman to Nixon into beleiving the Greater South Asian War must continue indefinitely,
whether victory was in sight or not. Elsberg had the wisdom to dump documents to the NY Times.
So, to the National Security Brigade of the North American Military Republic (formely know as USA). I offer the folllowing. Before you procecute Snowden. Please prosecute me for treason or other offenses for revealing your corrupt practices.during the occupation of the U.S Embassy in Tehran. In late 1978, the U.S, the U.S. State Department and the U.S Treasury under the Honorables Al Haig, and Donald Reagan conspired to cover up the illegal arms transfers both to the forces of the SAVAK, and to the insurgents of Khomeni. Playing both sides. Is there a better descritption of a corrupt regime? That corrupt regime is not the Ayatollah's.
So how did the U.S describe the illegal arms sales to Khomeni Forces and the Savak?
They made the operatives of the U.S. Embassy sign confessions for illegal arms sales to both sides in the Iranian Revolution. These confessions were made on their US Federal Tax Returns Schedule D. Unlike a normal Schedule D, these documents contained long text narratives of arms transactions with both the SAVAK and Khomeni forces. Same
"intelligece" opreratives are selling arms both to sides, Motives for cover-up are inevitable.
How could we be certain. My signature and stamp is on each documet of your
governments crime?. Documents are in the Bayonne NJ Archive.
So how could these documents be hidden? A notorious character known as Big Bird
communicated the threats to me personally. If you go to the NY Times, it will be your undoing. If you play the game, you will be rewarded. Big Bird, a participant of a NJ volunteer fire department suggested that life on the welfare system of the 1980s of the Reagan years would be far less prosperous than Federal Employment.
Like Daniel Elsberg, unlike Snowden, i do not fear the pathetic, corrupt regime which
hides these crimes. To return to the orignal subject,their biggest crime is tolerance
and deliberate creation of mass unemployent, for their obvious objectives. This is a regime with a shelf life too obvious to state.
Let me try to keep this simple. If you are unwilling to pay the people who do the work of
serving, food, maybe you stay at home and do your own cooking. In the Footwear Industry of 150 to 100 years ago, my great grandfather made a fortune, like Henry Ford, by insisting on paying a living wage to the workers who made the shoes. He went a step
further by encouraging, not stopping unions.
So he went broke right? By WWI, he was the biggest maker of men's and women's footwear in North America. Scetching the first high heals, he made a fashion coup as the first American maker of high heals. His firm made the boots for the U.S. Army in WWI. As a Civil War Hero, it did not hurt. There is a portrait of him mustering out the Irish Brigade in the N.Y Historical Society. Lincoln and Sherman credited him with winning Antietam. This is the kind of man who builds, rather than destroys industries.
The idea is that my great grandfather, Ford, Carnegie, and so many others, were part of generation that built, rather than destroyed our economy. Destructive Capitialism is worshipped by so many today. I say that Destructive Capitalism is dead if not already dying.
First, do not round. The figures are listed in the above post and for intermediate calculations one needs the full 4 significant digitis. The CPS has an margin of error on the final figures of about 400,000.
The correct figures, as listed in the above post are:
Long term unemployed: 4,246
Total unemployed, which will NOT match the tally of the duration figures due to differences in statistical methods. In other words, there are probably some unemployed where they do not report their duration and so we have different survey questions with different sums as a result.
REASONS for entering the ranks of the unemployed:
New entrants,
Re-entrants
completed temporary jobs
Laid-off/fired
Person quit their job
The BLS mixes temporary jobs and permanent job losses through firing/layoffs together in one tally.
Reentrants are people who have been not in the labor force but do have work experience. In other words, these are people who are no longer counted but then started actively looking for work again and thus are called re-entrants.
This figure has been statistically high and is 3,258,000 for July 2013.
So, no, you cannot just subtract off the long term unemployed and get layoff figures, not even close, there are all sorts of pathways to enter into the counted unemployed.
I added re-entrants to this overview so you have two graphs on it now.
Folks, I do go into nitty gritty and thus this overview is dense, please ask questions, start discussion in the comments. Odds are if something is confusing to you, it is confusing to lots of other people too chicken to write a comment.
I'm confused...If we now have 11.5 million unemployed, and 4.2 million of them are "long-term" unemployed (27 weeks or longer), does than mean 7.3 Americans just recently lost their jobs since this past February?
Al Sharpton and his guests were on MSNBC today discussing the GOP's NEW plan to cut food stamps by $40 billion. They said that one Republican congressman, at a hearing on the poor this week, asked why the churches weren't doing more.
Al Sharpton said, "So the next time we should just ask the churches to bail out the banks?"
That's true, Rich, but because the Dems are more afraid of NOT being re-elected, they try to do a pretty good pandering to their base, and there are a few sucker voters out there who haven't got a clue about how their rep actually votes, once he's in.
Republican incumbents from rich rural older white districts don't have to worry. They know a majority of their base supports them. That's how they got elected in the first place. The dissatisfied minority will never be listened to.
It's more like the Bastard Party ("Out of my way, weakling") vs. the Tell-'em-anything-but- constantly-disappoint party. (I'll address all the social issues, but don't ever ask me about money")
But to get back to the McDonald's issue...
check the disingenuous line laid down by the big business shill: that SHOULD McDonald's raise workers' wages, then the company would be forced to use that ready supply of IPods that they have waiting in a basement somewhere to replace them. Sob. Never occurs to this clown how many people would call bullshit on that.
It goes without saying that, if McDonald's had the technology to do that, they would have ALREADY replaced workers at seven-and-change. As if Mickey D is continuing to do you a favor paying you such peanuts.
He never addresses the issue of JUST HOW MUCH paying a living wage would cost the company.
We're the only industrialized country, or one of the few without a VAT and believe this or not, the left flips out at the idea, not understanding this is a dynamic tax, one that can be made progressive and one that can be changed daily and perfectly legal by the WTO, so no trade complaint.
I also need to check it out more thoroughly but the new Google/Motorola smartphone might be made in America, which is one hell of a plus if true and everyone can thrown their Chinese iPhone into the trash. (Anyone think about the cost of an iPhone vs. the fact it is made with glorified slave labor???) Apple, not so cool afterall!
You are correct --- that was a generalization, although data shows that many more smaller private donations came from a greater number of people to support the Dems. But yes, both parties are beholden to the banks and corporate interests --- both are equally guilty of crony capitalism. But it because the Dems do get so much support from the unions that, by default (whether they want to or not), they have to pass more laws supporting regular working people...otherwise the unions would withdrawl their support, the Dems would lose political power, and we'd have a one party system.
1) Our exports are taxed overseas through value-added taxes in over 150 countries, leaving us at a competitive disadvantage that trade agreements cannot erase. Those nations’ imports to the U.S. are effectively subsidized through VAT rebates.
2) American manufacturers are forced to work around a substandard infrastructure desperately in need of repair, yet public construction expenses as a percentage of GDP are dropping like a rock.
3) We’re under-investing in human capital, although some communities are putting vocational educational opportunities back into place for high school students. Our [real] competitors abroad possess mature, seamless programs to train young people, provide them with apprenticeships, and place them in high-wage jobs in modern factories.
4) Public investment in innovation is strong in the United States, but it focuses entirely too much on ideas that end up in products made overseas [sweatshops in low wage countries].
just took a look at income and outlays released this morning from the BEA; http://www.bea.gov/newsreleases/national/pi/2013/pi0613.htm
it's also been rebenchmarked to 2009...PCE inflation for June reduced incomes and spending by 0.4% in chained 2009 dollars...
"The Republicans have been on a rampage for the past 40 years to kill the unions, who fund Democrats in elections. Whereas the Republicans are primarily financed by the big banks and corporations."
The democrats also get plenty of money from corporations and banks. Both those entities own both sides to a degree, (kinda like owning both horses in a two horse race), so they cant lose.
It has been a standard propaganda message by the MSM that the democrats are more for people and less for the corporations and banks.
The truth is neither side really gives a damn about the people, they do what the big money tells them to do. You are going to hear stories about the connected (corporate) people making big bucks off Obama Care in the days to come.
That's true, and GDP has been riding inventories for a while now, although the contraction seems to highly correlate to recessions.
This is going to take us some real digging on the new methodology. Been in the works for months, but my thing is hmmmm, "don't like the numbers so change them"? Similarly to how CPI is calculated?
Is that what is going on? Cannot state that without well deep analysis but IP, really bothers me since production is offshore outsourced and the patents themselves sit in SPVs offshore. TBD!
with the latest revision, the first quarter only grew at a 1.1% rate, and .88% of that was growth in farm inventories, increased from the originally reported .83%...without those bin-busting winter silos, headline 1st quarter GDP growth would have printed +0.2% annualized..
another increase in farm inventories also accounted for .13% of the 1.7% 2nd quarter GDP growth...
there's usually payback for inventory induced GDP increases..
ok, i see what they did to arrive at the percentage increases; it strikes me as an odd way to compute changes, and, as you say, its an odd year to base your chained price index on...
on that chained basis, our GDP sits at $15,648.7 billion, so it's hard for me to relate the component figures of that to present day dollars..
Oops, edited this comment. Ok, you're referencing nominal (I think, although I didn't match up all of the figures).
If I go to:
On the new GDP release with the revision tables, p. table 3B, p. 44, line 9, nondurable goods, Q2 2013 and calculate annualized percentages I get a 2.0% change from Q1.
There are massive changes and I hope to get a 1st pass overview on them over the weekend. 2009 was deflationary, so I don't know about using chained price indexes from that year, it's a weird year.
Then, I'm none too impressed with this idea that a bunch of patents bundled up into special purpose vehicles located in the Caymans, how exactly that adds to domestic economic growth. Seems the only ones who add to domestic growth are patent attorneys in their various legal IP wars.
Then, it sure looks like motor vehicles as a GDP component is off the table, what is this...
they are offshore outsourcing our manufacturing base so gee, we'll just not count it anymore?
Anywho, I have to dig deep into their revision and new methods information so hopefully this weekend. Tomorrow is employment day, so we'll be looking at that all day.
for instance, seasonally adjusted spending for non-durable goods appears to have dropped from $2,607.0 billion in the 1st quarter to $2,593.2 billion in Q2, whereas it's given as a 2.0% rate of increase...both the rate of increase and the dollar amount are SAAR...
This overview is just a straight data overview. We hope to look at revisions and more importantly what is now missing and what is added. Intuitively intellectual property bundled in SPVs in the Caymans, hmmm, now how is that really adding to America's economic growth?
I assume the Pres is a man who can take responsibility for what he says, given that many millions of people have to live with the result.
He stood in front of the bankers who had donated a lot of money to Democrats to get elected, and stated "I'm the only one standing between you and the pitchforks".
"http://abcnews.go.com/blogs/politics/2009/04/obama-to-banker/", and selected a Republican friend of the Criminal Conspiracy formerly known as Bankers to shovel money to them.
Here we are 5 years later, more people shuffled into part-time jobs, a number never seen in the history of this country by employers who, if there was demand, would be daft not to hire, because their competitors will. Full-time jobs have now fallen below part-time longer and in greater numbers than ever in history. The Criminal Conspiracy formerly known as Banks reported a $20 billion profit in the second quarter, while Ben and friends continue to send them $85 billion/month, and we are reporting 47 million people on food stamps, an increase over the past few months, as well as 50 million people in poverty, with a higher percentage of them working as much as they are allowed than ever before - contrary to your assertion that people won't work for those wages. The farmers? No one freakin' lives around there - the laborers that USED to do the work are not allowed to because of the Republican virus that is afraid of the color brown lived in cars and box trucks without motors, and the family was, well, mostly not there. Are you advocating breaking up families so people can sleep in a bag on the ground for a few weeks work, charged so much for their sleeping quarters in a box with no toilet or ac in 105 degree heat (or do you want them to let the baby lay in there all day?) that they cannot even send enough money back to pay the rent and eat?
The farmers are slowly but surely turning to mechanized lettuce and strawberry pickers, and a large amount of that food you are so concerned about isn't grown here any longer. It's shipped in because it is cheaper, and unregulated. Check google on the increase in people dying and being hurt by contaminated food, and look at the increased profits of the distributors and growers...they track upwards with each other.
Obama, big community organizer, could have stood with the people against the Criminals, put those trillions that the friends of Bernanke were paid into infrastructure, paying tuition, modernizing the workforce so it can compete against H1B labor, but he made a conscious decision to side with the wealthy donors to the Democratic Party, who don't give a hoot in hell about families or workers, no more than the Repubs. BOTH care only about profits. There are a few people who care, but they are a minority, and haven't figured out yet that they are being played by the swindlers elected from either side. Had Mr. former Community Organizer used those skills, which this country so desperately needed, 200 million people would have stood shoulder-to-shoulder with him and we would be living in a far better place. But he didn't, he stood with a few thousand wealthy individuals who, frankly, don't give a damn if an of us live or die, as long as they make money.
Remember Rockefeller? "The time to make money is when blood is running in the streets"
And we are living with his descendants, who have done nothing but create more people who think like that.
Blame? That's schoolkid talk. Adults speak of responsibility, and taking it for your actions. So either one can expect Obama to stand up like a man and realize that much of the misery Americans are suffering through today is because he chose the side of thieves and professional liars, or make excuses for him and others, pointing fingers and name-calling like the bought and paid for servants of the corporations spend their time doing, and, frankly, that says a lot more about the sheep-like attitude of the ignorant True Believer than it does about the selected officials.
We are in this spot because he didn't, and doesn't, have the backbone to make a difference, and has turned his back on the people that could.
That's what democracy and capitalism mean. Can't find workers at a set wage, you don't flood a country with more workers at the expense of citizens. That's not how "representative democracy" works. That's not how labor supply and demand work. Instead, businesses, etc. raise wages and talent and employees follow. That's how it works in a corruption-free system. Now, in a broken system, "capitalists" buy out the government, demand cheap labor and laws favoring them at the expense of the majority of citizens, and then complain that American citizens are lazy or incompetent. And if the new workers complain too much when they are on their visas, they are simply sent back to their home countries for cheaper labor willing to work for cheaper wages and the US corporate-controlled govt. approves it. Just watch Bill Gates perjure himself and claim he simply can't find good Americans in front of Congress. Watch YouTube for the videos of law firms instructing people how not to find qualified Americans.
See, these phony "capitalists" like big government that caters to their whims. They want a govt. that controls who comes and goes, because the more people here, the lower the wages. Hey, big business wants more people in debt, more unemployed, more college kids that will work for them for free as "interns" alongside "interns" that are 50 with PhDs? Sure, why not, they want it, they own the govt., so they get it. And the DOJ and Labor Dept. and every Fed. and State agency will turn a blind eye or actively assist them with their lies and crimes. "Capitalism"? "Democracy"? "A Republic"? Not quite. But hey, if you're an American with military service and a BS and 20+ years of experience but won't work for minimum wage because you can't feed 2 kids on that, why, you must be lazy or unqualified or a troublemaker/sarc. Great, I'm so glad I know nothing of economics or history or politics or international relations or labor, business, etc., etc. Otherwise, that would be very offensive.
But look, big business is going to get lower tax rates from Obama! And do you know how many Americans will get living wage jobs as a result of these breaks because this has resulted in jack in the past as corporations simply repatriated gobs of money and made the boardroom boys and girls even richer. Let's count those middle class jobs. . . let's see. . .any minute now the middle class will return, yup, any second now.
Blame "job creators", that is, multinational corporations and businesses who are increasingly either offshoring jobs to overseas, or offering to Indian visa workers when instead they should be hiring Americans, setting up factories and worksites on US soil, and paying taxes in this country that are needed to keep up our infrastructure. Obama doesn't have any fairy dust and can't wave any wands that force businesses to hire American workers on American soil-- only the corporations and businesses themselves can do the right thing by Americans, and it seems that they've decided instead that the only thing they care about is profits.
As to legalizing those immigrants-- there are some industries in this country, e.g. agriculture, that are petitioning the government to please, yes, legalize them, because otherwise they can't get their product to market. Farmers in some states are begging for legalization of those children of immigrants, so that they can have the field workers they need to move crops to table. There are a lot of Americans who won't do that work for the pay that farmers are willing to pay-- but the farmers need help to get the food to market. So who will do the work, if Americans won't? You'd rather that we have a massive food shortage? Or are you willing to start working in the fields with the strawberries?
Based on your analysys:
Yet in spite of the wild swings, as a slope, or rate of increase, those not in the labor force grew faster than the population that has the potential to work. Below is a graph of those not in the labor force, (maroon, scale on the left), against the noninstitutional civilian population (blue, scale on the right). Notice how those not in the labor force crosses the noninstitutional civilian population in growth and the accelerated growth started happening right in 2008. This cannot possibly be retirees, all at once and instead a segment of those not in the labor force simply do need work and are not being counted in the official unemployment statistics.
A NATION WITHOUT LIBERTY IS A NATION WITHOUT PROSPERITY.
The other factors other than re-entrance into the job market. Re-entrance increase signifcantly and the workforce participation rate declines. What is missing from this picture. For comparitive econimcs, USA has one of the lowest OECD labor participation rates. The most comparable economy, Australia, has a 66.3%rate. We could compare the US to Germany or Switzerland, nations, democratic nations whose police have no unquestioned juridical right to read your email, phone records, without help of our intelligence agencies.
Other actual republics whose legislatures have the right to question entrance into wars.Nations like Switzerland , with a 83% labor participation rate. Or even Germany with 78% labor participation rate.
My criticism of Snowden was that he was too tame in criticizing the BEAST, which affords us neither liberty not properity. Yet the BEAST pleads for it's unconstititutional entrusions. Let me remind those with short memories of Daniel Elsberg's revalation of the Penatagon Papers. Daniel revealed how the Pentagon deceived each POTUS from Truman to Nixon into beleiving the Greater South Asian War must continue indefinitely,
whether victory was in sight or not. Elsberg had the wisdom to dump documents to the NY Times.
So, to the National Security Brigade of the North American Military Republic (formely know as USA). I offer the folllowing. Before you procecute Snowden. Please prosecute me for treason or other offenses for revealing your corrupt practices.during the occupation of the U.S Embassy in Tehran. In late 1978, the U.S, the U.S. State Department and the U.S Treasury under the Honorables Al Haig, and Donald Reagan conspired to cover up the illegal arms transfers both to the forces of the SAVAK, and to the insurgents of Khomeni. Playing both sides. Is there a better descritption of a corrupt regime? That corrupt regime is not the Ayatollah's.
So how did the U.S describe the illegal arms sales to Khomeni Forces and the Savak?
They made the operatives of the U.S. Embassy sign confessions for illegal arms sales to both sides in the Iranian Revolution. These confessions were made on their US Federal Tax Returns Schedule D. Unlike a normal Schedule D, these documents contained long text narratives of arms transactions with both the SAVAK and Khomeni forces. Same
"intelligece" opreratives are selling arms both to sides, Motives for cover-up are inevitable.
How could we be certain. My signature and stamp is on each documet of your
governments crime?. Documents are in the Bayonne NJ Archive.
So how could these documents be hidden? A notorious character known as Big Bird
communicated the threats to me personally. If you go to the NY Times, it will be your undoing. If you play the game, you will be rewarded. Big Bird, a participant of a NJ volunteer fire department suggested that life on the welfare system of the 1980s of the Reagan years would be far less prosperous than Federal Employment.
Like Daniel Elsberg, unlike Snowden, i do not fear the pathetic, corrupt regime which
hides these crimes. To return to the orignal subject,their biggest crime is tolerance
and deliberate creation of mass unemployent, for their obvious objectives. This is a regime with a shelf life too obvious to state.
Let me try to keep this simple. If you are unwilling to pay the people who do the work of
serving, food, maybe you stay at home and do your own cooking. In the Footwear Industry of 150 to 100 years ago, my great grandfather made a fortune, like Henry Ford, by insisting on paying a living wage to the workers who made the shoes. He went a step
further by encouraging, not stopping unions.
So he went broke right? By WWI, he was the biggest maker of men's and women's footwear in North America. Scetching the first high heals, he made a fashion coup as the first American maker of high heals. His firm made the boots for the U.S. Army in WWI. As a Civil War Hero, it did not hurt. There is a portrait of him mustering out the Irish Brigade in the N.Y Historical Society. Lincoln and Sherman credited him with winning Antietam. This is the kind of man who builds, rather than destroys industries.
The idea is that my great grandfather, Ford, Carnegie, and so many others, were part of generation that built, rather than destroyed our economy. Destructive Capitialism is worshipped by so many today. I say that Destructive Capitalism is dead if not already dying.
First, do not round. The figures are listed in the above post and for intermediate calculations one needs the full 4 significant digitis. The CPS has an margin of error on the final figures of about 400,000.
The correct figures, as listed in the above post are:
Long term unemployed: 4,246
Total unemployed, which will NOT match the tally of the duration figures due to differences in statistical methods. In other words, there are probably some unemployed where they do not report their duration and so we have different survey questions with different sums as a result.
REASONS for entering the ranks of the unemployed:
New entrants,
Re-entrants
completed temporary jobs
Laid-off/fired
Person quit their job
The BLS mixes temporary jobs and permanent job losses through firing/layoffs together in one tally.
Reentrants are people who have been not in the labor force but do have work experience. In other words, these are people who are no longer counted but then started actively looking for work again and thus are called re-entrants.
This figure has been statistically high and is 3,258,000 for July 2013.
So, no, you cannot just subtract off the long term unemployed and get layoff figures, not even close, there are all sorts of pathways to enter into the counted unemployed.
I added re-entrants to this overview so you have two graphs on it now.
Folks, I do go into nitty gritty and thus this overview is dense, please ask questions, start discussion in the comments. Odds are if something is confusing to you, it is confusing to lots of other people too chicken to write a comment.
I'm confused...If we now have 11.5 million unemployed, and 4.2 million of them are "long-term" unemployed (27 weeks or longer), does than mean 7.3 Americans just recently lost their jobs since this past February?
Al Sharpton and his guests were on MSNBC today discussing the GOP's NEW plan to cut food stamps by $40 billion. They said that one Republican congressman, at a hearing on the poor this week, asked why the churches weren't doing more.
Al Sharpton said, "So the next time we should just ask the churches to bail out the banks?"
That's true, Rich, but because the Dems are more afraid of NOT being re-elected, they try to do a pretty good pandering to their base, and there are a few sucker voters out there who haven't got a clue about how their rep actually votes, once he's in.
Republican incumbents from rich rural older white districts don't have to worry. They know a majority of their base supports them. That's how they got elected in the first place. The dissatisfied minority will never be listened to.
It's more like the Bastard Party ("Out of my way, weakling") vs. the Tell-'em-anything-but- constantly-disappoint party. (I'll address all the social issues, but don't ever ask me about money")
But to get back to the McDonald's issue...
check the disingenuous line laid down by the big business shill: that SHOULD McDonald's raise workers' wages, then the company would be forced to use that ready supply of IPods that they have waiting in a basement somewhere to replace them. Sob. Never occurs to this clown how many people would call bullshit on that.
It goes without saying that, if McDonald's had the technology to do that, they would have ALREADY replaced workers at seven-and-change. As if Mickey D is continuing to do you a favor paying you such peanuts.
He never addresses the issue of JUST HOW MUCH paying a living wage would cost the company.
We're the only industrialized country, or one of the few without a VAT and believe this or not, the left flips out at the idea, not understanding this is a dynamic tax, one that can be made progressive and one that can be changed daily and perfectly legal by the WTO, so no trade complaint.
I also need to check it out more thoroughly but the new Google/Motorola smartphone might be made in America, which is one hell of a plus if true and everyone can thrown their Chinese iPhone into the trash. (Anyone think about the cost of an iPhone vs. the fact it is made with glorified slave labor???) Apple, not so cool afterall!
You are correct --- that was a generalization, although data shows that many more smaller private donations came from a greater number of people to support the Dems. But yes, both parties are beholden to the banks and corporate interests --- both are equally guilty of crony capitalism. But it because the Dems do get so much support from the unions that, by default (whether they want to or not), they have to pass more laws supporting regular working people...otherwise the unions would withdrawl their support, the Dems would lose political power, and we'd have a one party system.
I just read:
1) Our exports are taxed overseas through value-added taxes in over 150 countries, leaving us at a competitive disadvantage that trade agreements cannot erase. Those nations’ imports to the U.S. are effectively subsidized through VAT rebates.
2) American manufacturers are forced to work around a substandard infrastructure desperately in need of repair, yet public construction expenses as a percentage of GDP are dropping like a rock.
3) We’re under-investing in human capital, although some communities are putting vocational educational opportunities back into place for high school students. Our [real] competitors abroad possess mature, seamless programs to train young people, provide them with apprenticeships, and place them in high-wage jobs in modern factories.
4) Public investment in innovation is strong in the United States, but it focuses entirely too much on ideas that end up in products made overseas [sweatshops in low wage countries].
http://www.tradereform.org/2013/08/made-in-america-the-competitiveness-i...
just took a look at income and outlays released this morning from the BEA; http://www.bea.gov/newsreleases/national/pi/2013/pi0613.htm
it's also been rebenchmarked to 2009...PCE inflation for June reduced incomes and spending by 0.4% in chained 2009 dollars...
i plan on covering this...
"The Republicans have been on a rampage for the past 40 years to kill the unions, who fund Democrats in elections. Whereas the Republicans are primarily financed by the big banks and corporations."
The democrats also get plenty of money from corporations and banks. Both those entities own both sides to a degree, (kinda like owning both horses in a two horse race), so they cant lose.
It has been a standard propaganda message by the MSM that the democrats are more for people and less for the corporations and banks.
The truth is neither side really gives a damn about the people, they do what the big money tells them to do. You are going to hear stories about the connected (corporate) people making big bucks off Obama Care in the days to come.
That's true, and GDP has been riding inventories for a while now, although the contraction seems to highly correlate to recessions.
This is going to take us some real digging on the new methodology. Been in the works for months, but my thing is hmmmm, "don't like the numbers so change them"? Similarly to how CPI is calculated?
Is that what is going on? Cannot state that without well deep analysis but IP, really bothers me since production is offshore outsourced and the patents themselves sit in SPVs offshore. TBD!
with the latest revision, the first quarter only grew at a 1.1% rate, and .88% of that was growth in farm inventories, increased from the originally reported .83%...without those bin-busting winter silos, headline 1st quarter GDP growth would have printed +0.2% annualized..
another increase in farm inventories also accounted for .13% of the 1.7% 2nd quarter GDP growth...
there's usually payback for inventory induced GDP increases..
ok, i see what they did to arrive at the percentage increases; it strikes me as an odd way to compute changes, and, as you say, its an odd year to base your chained price index on...
on that chained basis, our GDP sits at $15,648.7 billion, so it's hard for me to relate the component figures of that to present day dollars..
Oops, edited this comment. Ok, you're referencing nominal (I think, although I didn't match up all of the figures).
If I go to:
On the new GDP release with the revision tables, p. table 3B, p. 44, line 9, nondurable goods, Q2 2013 and calculate annualized percentages I get a 2.0% change from Q1.
Calculation:
(2,333.7/2,322.2)^4 - 1 = 0.0199564 * 100 = 2.0% rounded
There are massive changes and I hope to get a 1st pass overview on them over the weekend. 2009 was deflationary, so I don't know about using chained price indexes from that year, it's a weird year.
Then, I'm none too impressed with this idea that a bunch of patents bundled up into special purpose vehicles located in the Caymans, how exactly that adds to domestic economic growth. Seems the only ones who add to domestic growth are patent attorneys in their various legal IP wars.
Then, it sure looks like motor vehicles as a GDP component is off the table, what is this...
they are offshore outsourcing our manufacturing base so gee, we'll just not count it anymore?
Anywho, I have to dig deep into their revision and new methods information so hopefully this weekend. Tomorrow is employment day, so we'll be looking at that all day.
why dont the seasonally adjusted annualized dollar changes match the seasonally adjusted annualized percentage changes?
im referring to Table 3A. Gross Domestic Product and Related Measures—p38 http://www.bea.gov/newsreleases/national/gdp/2013/pdf/gdp2q13_adv.pdf
for instance, seasonally adjusted spending for non-durable goods appears to have dropped from $2,607.0 billion in the 1st quarter to $2,593.2 billion in Q2, whereas it's given as a 2.0% rate of increase...both the rate of increase and the dollar amount are SAAR...
This overview is just a straight data overview. We hope to look at revisions and more importantly what is now missing and what is added. Intuitively intellectual property bundled in SPVs in the Caymans, hmmm, now how is that really adding to America's economic growth?
I assume the Pres is a man who can take responsibility for what he says, given that many millions of people have to live with the result.
He stood in front of the bankers who had donated a lot of money to Democrats to get elected, and stated "I'm the only one standing between you and the pitchforks".
"http://abcnews.go.com/blogs/politics/2009/04/obama-to-banker/", and selected a Republican friend of the Criminal Conspiracy formerly known as Bankers to shovel money to them.
Here we are 5 years later, more people shuffled into part-time jobs, a number never seen in the history of this country by employers who, if there was demand, would be daft not to hire, because their competitors will. Full-time jobs have now fallen below part-time longer and in greater numbers than ever in history. The Criminal Conspiracy formerly known as Banks reported a $20 billion profit in the second quarter, while Ben and friends continue to send them $85 billion/month, and we are reporting 47 million people on food stamps, an increase over the past few months, as well as 50 million people in poverty, with a higher percentage of them working as much as they are allowed than ever before - contrary to your assertion that people won't work for those wages. The farmers? No one freakin' lives around there - the laborers that USED to do the work are not allowed to because of the Republican virus that is afraid of the color brown lived in cars and box trucks without motors, and the family was, well, mostly not there. Are you advocating breaking up families so people can sleep in a bag on the ground for a few weeks work, charged so much for their sleeping quarters in a box with no toilet or ac in 105 degree heat (or do you want them to let the baby lay in there all day?) that they cannot even send enough money back to pay the rent and eat?
The farmers are slowly but surely turning to mechanized lettuce and strawberry pickers, and a large amount of that food you are so concerned about isn't grown here any longer. It's shipped in because it is cheaper, and unregulated. Check google on the increase in people dying and being hurt by contaminated food, and look at the increased profits of the distributors and growers...they track upwards with each other.
Obama, big community organizer, could have stood with the people against the Criminals, put those trillions that the friends of Bernanke were paid into infrastructure, paying tuition, modernizing the workforce so it can compete against H1B labor, but he made a conscious decision to side with the wealthy donors to the Democratic Party, who don't give a hoot in hell about families or workers, no more than the Repubs. BOTH care only about profits. There are a few people who care, but they are a minority, and haven't figured out yet that they are being played by the swindlers elected from either side. Had Mr. former Community Organizer used those skills, which this country so desperately needed, 200 million people would have stood shoulder-to-shoulder with him and we would be living in a far better place. But he didn't, he stood with a few thousand wealthy individuals who, frankly, don't give a damn if an of us live or die, as long as they make money.
Remember Rockefeller? "The time to make money is when blood is running in the streets"
And we are living with his descendants, who have done nothing but create more people who think like that.
Blame? That's schoolkid talk. Adults speak of responsibility, and taking it for your actions. So either one can expect Obama to stand up like a man and realize that much of the misery Americans are suffering through today is because he chose the side of thieves and professional liars, or make excuses for him and others, pointing fingers and name-calling like the bought and paid for servants of the corporations spend their time doing, and, frankly, that says a lot more about the sheep-like attitude of the ignorant True Believer than it does about the selected officials.
We are in this spot because he didn't, and doesn't, have the backbone to make a difference, and has turned his back on the people that could.
That's what democracy and capitalism mean. Can't find workers at a set wage, you don't flood a country with more workers at the expense of citizens. That's not how "representative democracy" works. That's not how labor supply and demand work. Instead, businesses, etc. raise wages and talent and employees follow. That's how it works in a corruption-free system. Now, in a broken system, "capitalists" buy out the government, demand cheap labor and laws favoring them at the expense of the majority of citizens, and then complain that American citizens are lazy or incompetent. And if the new workers complain too much when they are on their visas, they are simply sent back to their home countries for cheaper labor willing to work for cheaper wages and the US corporate-controlled govt. approves it. Just watch Bill Gates perjure himself and claim he simply can't find good Americans in front of Congress. Watch YouTube for the videos of law firms instructing people how not to find qualified Americans.
See, these phony "capitalists" like big government that caters to their whims. They want a govt. that controls who comes and goes, because the more people here, the lower the wages. Hey, big business wants more people in debt, more unemployed, more college kids that will work for them for free as "interns" alongside "interns" that are 50 with PhDs? Sure, why not, they want it, they own the govt., so they get it. And the DOJ and Labor Dept. and every Fed. and State agency will turn a blind eye or actively assist them with their lies and crimes. "Capitalism"? "Democracy"? "A Republic"? Not quite. But hey, if you're an American with military service and a BS and 20+ years of experience but won't work for minimum wage because you can't feed 2 kids on that, why, you must be lazy or unqualified or a troublemaker/sarc. Great, I'm so glad I know nothing of economics or history or politics or international relations or labor, business, etc., etc. Otherwise, that would be very offensive.
But look, big business is going to get lower tax rates from Obama! And do you know how many Americans will get living wage jobs as a result of these breaks because this has resulted in jack in the past as corporations simply repatriated gobs of money and made the boardroom boys and girls even richer. Let's count those middle class jobs. . . let's see. . .any minute now the middle class will return, yup, any second now.
Blame "job creators", that is, multinational corporations and businesses who are increasingly either offshoring jobs to overseas, or offering to Indian visa workers when instead they should be hiring Americans, setting up factories and worksites on US soil, and paying taxes in this country that are needed to keep up our infrastructure. Obama doesn't have any fairy dust and can't wave any wands that force businesses to hire American workers on American soil-- only the corporations and businesses themselves can do the right thing by Americans, and it seems that they've decided instead that the only thing they care about is profits.
As to legalizing those immigrants-- there are some industries in this country, e.g. agriculture, that are petitioning the government to please, yes, legalize them, because otherwise they can't get their product to market. Farmers in some states are begging for legalization of those children of immigrants, so that they can have the field workers they need to move crops to table. There are a lot of Americans who won't do that work for the pay that farmers are willing to pay-- but the farmers need help to get the food to market. So who will do the work, if Americans won't? You'd rather that we have a massive food shortage? Or are you willing to start working in the fields with the strawberries?
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