it's hard to relate what we see in this report to low home inventories for sale, except that it suggests the banks are still holding more housing inventory than they want...from this, it seems they just dont want to take possession of many more properties; they may see it in their interest to allow families to occupy and upkeep houses, even though they're generating no revenue, rather than have them empty and vandalized
I'm gathering this is saying foreclosures and delinquencies are down, yet does it explain the super short inventories that are in part driving up home prices?
This report came out on the 5th, so one maybe wondering why so late. Well, it takes time to write these things and productivity in particular, I like to show the ratios in words and in math form,. This is because as a concept, plus the way the statistics are presented, productivity stats are hard to follow, more often than not misinterpreted.
For example, annualized percentage change represents what the entire year would look like if that quarter keeps happening for the next three. So, it's larger swings than just quarterly percentage change.
Still, this report is awful, make no mistake and why I wanted to overview it in detail.
The profits being made off of profiling people is astounding, particularly astounding since there is no way profits from "consumers" can match the money being made by selling people's data and analyzing it.
1984 to be sure but this story to me isn't the real news, it is what corporations are being allowed to get away with in violating people's privacy.
They want to know what groups people belong to, what people read, associate with, etc. Any reason to screw 'em over before any interview is even granted. Same with all this "crowdsourcing and temp work are awesome! workers should love it!" nonsense. Crowdsourcing and temp work merely drive down wages and get big corporation the results of masses of people doing work for no benefits and one-off dismal payments. No benefits, low pay (if the people are even paid) and the big business gets the ideas for fractions of what R & D or full-time workers would cost. These issues, in a govt. that represented 99% of us, would have been stopped years ago, along with the other problems of invasions of privacy, labor arbitrage, abuse of internships for workers that aren't even in schools, etc. But they don't care, so at least we all need to be aware so we can see how were screwed over daily nonstop.
In corrupt countries, governments at least give the populations something in return for the corruption (e.g., bread + circuses). In really corrupt places, the people don't even get bread or circuses to go along with their loss of freedoms/privacy, poor job prospects, elite political class that acts like nobility and caters to a tiny elite here and abroad. Which one are we?
can mean papers, code, presentations, articles, no photo involved.
That said, treating workers like crap seems to be the theme for the U.S. workforce across the board, with only the executive class being the exception.
More information, the better they can screw everyone out there. All these shill articles and PR pieces that say Linkedin and Facebook are necessary serve the corporate masters and the govt. (that loves that Zuckerberg, Lindkedin, et al $).
Back in the day, companies had to wait to see how old you looked, color hair, attractive or unattractive, fat or too thin, acne or no, etc. Not like any of this crap matters in an objective skill-based world. But now these bastards demand in their shill pieces that everyone needs to post photos, needs to get on board with saying how great businesses are (notice how they say never comment negatively). Hey, with 22.5 million unemployed and America descending into a plutocratic Banana Republic, is it okay to voice an objection? Hell no, then they'll hold it against you. Never criticize the powers - that's not what they want.
How's free speech and democracy working out for us now? Obviously it's not, and these freaks demand that we not open our mouths lest Linkedin and Facebook deem us the scum of the Earth. Pure tripe. This is America.
1) "When the people fear the government there is tyranny, when the government fears the people there is liberty." Jefferson (you can substitute corporations for govt. because Jefferson knew the score on banks and big corps. too and knew what they were capable of).
2) "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." Franklin.
Anyone out there still wonder why these people constantly bash liberal arts and anything beyond learning about being a cog? Knowing history, politics, world literature, use of propaganda, sociology, psychology, etc. might just get in the way of their plans. We can't be allowed to see what humans are capable of, that's not what they want or are doing now. Nope, they want cogs that fight for scraps and praise them everywhere on the Internet while doing it. And if you're too old or think too damn much, no job or food or home for you, now disappear and leave the powers to party and wipe their asses with our lives.
Corporations already spy on us, ad nauseum. Fakebook, Google, Microsoft, Mastercard Visa, they are all spying on us daily, we have "targeted marketing" going on everywhere, profiling people.
Yet corporations just get ripped off by China, absolutely nothing happens to corporations committing crimes or aything else.
WaPo has the ISP list spying on us, but I'm sure this scratches the surface.
It's more the NSA is late to the party, no comparison to what Silicon valley knows about everyone.
So, that's bogus. They try to claim that people are retiring and the "socioeconomic aspects of society" are changing. It's BS. The Population growth is primarily from immigration, which implies a disproportionate number of working age people.
Yet another deep number crunch to prove this crud wrong. I agree, they will do anything to deny the job crisis.
NSA has authority to intercept outside US without any issues. So they knew full well when foreign offices or subsidiaries of US based banks were communicating with drug cartels and terrorists, Iran, etc. So the NSA wasn't upset with all of those intercepts when the DOJ said they get a free pass?
Wonder how many intercepts (actual phone conversations) they have of big banks communicating with overseas threats? Must be tens of thousands plus. And yet all this information being gathered on law-abiding US citizens, visitors, residents, etc. Odd, seems Orwellian. Has 1984 been banned yet or can I still check that out at a library? Will the FBI question who checks it out?
The Chicago Fed said now only 80,000 jobs/month are needed to "steady" US unemployment. The lies are obvious when the Fed cited lower population growth and saw an already declining UE rate. Interesting, apparently these people earning good $ for being clueless ignored immigration increasing and the UE rate not decreasing but in fact simply ignoring the labor participation rate that is reaching decades-low levels. 80,000/month? The Fed sees everyone just retiring early (because they all must be super-rich), people not looking for work, no more immigration (they should talk to Congress, word is some laws now being passed actually have something to do with this and would increase immigration markedly), etc.
Close to 2 million college grads every year alone enter the market, but 80,000/month is now the new requirement for the entire market? Propaganda and lack of logic obvious. More unemployed, more immigration, lower participation rate, but the numbers drop? Companies not creating jobs (despite their "job creator" status) and same with govt = nothing good for long time.
Only so much any American can handle. I'm going to take more breaks and not comment so often just for my own poor American psyche. Too much corruption, news, and being locked out of any input/change will crush anyone these days, gotta stay semi-civilized. Thinking about this with no recourse takes a toll on everyone out here, all of us locked out of power are in this beast together.
Like it or not, immigration affects the labor supply. It is not static but over and over again, this is a fundamental truth and it is repressed wages as the general rule, worker displacement.
So, our Congress is ramming through "Comprehensive Immigration Reform", with more guest worker Visas than there are jobs in total, and America's workforce be damned.
So glad to see you back Kurtz! I missed your blazing commentary.
Brutality rules the day. Anyone that doesn't have a heart for their fellow Americans living through these times is amoral or just plain heartless. Looking around now, people that think just because they still have a gig in govt. or some business that they can still house and feed their families on without seeing our downfall is clueless. Even many of those jobs will soon be gone or lowering pay because tax base is shrinking daily. Too many people across every strata struggling for anything. College and grad school graduates unemployed or working gigs that pay what they paid in the 1990s; many of those jobs could be done by high school kids too. DOJ now only hires "interns" to work for free (they are ramping up that scam). Why the DOJ even hires anyone is beyond me considering Holder specifically said big bankstas won't be prosecuted (aka abrogation of one's duty to the law, law enforcement, and taxpayers paying DOJ salaries). And yet we need more labor arbitrage aka more cheap labor and visa recipients because damn it, with labor participation rates at record lows, big corporations/the govt. just can't find any Americans, really, they are really looking (blind as bats apparently). And to those poor Americans (literally and figuratively) who had the misfortune of being over 30 and can't get through Taleo and HR games and are unemployed now for 3, 4, 5+ years (despite military service, etc.), i wish I knew what to say.
Anyway, as long as big bankstas and CEOs of big corp. multinationals keep making beaucoup cash and stabbing us in our backs, here's to more of the same. Remember, if Dimon, Corzine, Blankfein, the Clintons, Obama, the GOP and everyone else doesn't party with you at their Davos or Hampton gatherings in the winter and summer, YOU DON'T MATTER. But hey, will the next generation of Clintons be a public servant? No need to be a teacher or cop or nurse for 30 years, just go right to being a Senator. Will the next generation from this or that GOP family follow in his Mommy's or Daddy's footsteps?
Who cares. Rinse, repeat, rinse, repeat, they get richer without ever worrying about jobs, we get boned. New decades, same story. $ + corruption talks, patriotism and care for your fellow human beings means nothing to them.
half way completed so I finished it without checking the site. But this doesn't matter, you are adding to the fact we are seeing all over the place indicators of economic contraction, that the QE buzz is coming to an end.
Working on manufacturing ISM right now.
Not used to other contributors so my bad, try to make a point to coordinate for you are pointing out almost the same thing I am, might be more clear, I use a lot of FRED graphs as you can see.
I would never give banks any credit for being nice towards mortgage holders. At minimum due to Foreclosure gate they don't want to be sued again.
I think this is much more about limiting supply. That will generate artificial demand and thus prices increase.
(Law of Supply and Demand Econ 101)
That's my take on the hidden housing inventory.
it's hard to relate what we see in this report to low home inventories for sale, except that it suggests the banks are still holding more housing inventory than they want...from this, it seems they just dont want to take possession of many more properties; they may see it in their interest to allow families to occupy and upkeep houses, even though they're generating no revenue, rather than have them empty and vandalized
I'm gathering this is saying foreclosures and delinquencies are down, yet does it explain the super short inventories that are in part driving up home prices?
This report came out on the 5th, so one maybe wondering why so late. Well, it takes time to write these things and productivity in particular, I like to show the ratios in words and in math form,. This is because as a concept, plus the way the statistics are presented, productivity stats are hard to follow, more often than not misinterpreted.
For example, annualized percentage change represents what the entire year would look like if that quarter keeps happening for the next three. So, it's larger swings than just quarterly percentage change.
Still, this report is awful, make no mistake and why I wanted to overview it in detail.
It's more accurate to refer to illegal immigrant labor as scab labor
The profits being made off of profiling people is astounding, particularly astounding since there is no way profits from "consumers" can match the money being made by selling people's data and analyzing it.
1984 to be sure but this story to me isn't the real news, it is what corporations are being allowed to get away with in violating people's privacy.
They want to know what groups people belong to, what people read, associate with, etc. Any reason to screw 'em over before any interview is even granted. Same with all this "crowdsourcing and temp work are awesome! workers should love it!" nonsense. Crowdsourcing and temp work merely drive down wages and get big corporation the results of masses of people doing work for no benefits and one-off dismal payments. No benefits, low pay (if the people are even paid) and the big business gets the ideas for fractions of what R & D or full-time workers would cost. These issues, in a govt. that represented 99% of us, would have been stopped years ago, along with the other problems of invasions of privacy, labor arbitrage, abuse of internships for workers that aren't even in schools, etc. But they don't care, so at least we all need to be aware so we can see how were screwed over daily nonstop.
In corrupt countries, governments at least give the populations something in return for the corruption (e.g., bread + circuses). In really corrupt places, the people don't even get bread or circuses to go along with their loss of freedoms/privacy, poor job prospects, elite political class that acts like nobility and caters to a tiny elite here and abroad. Which one are we?
can mean papers, code, presentations, articles, no photo involved.
That said, treating workers like crap seems to be the theme for the U.S. workforce across the board, with only the executive class being the exception.
More information, the better they can screw everyone out there. All these shill articles and PR pieces that say Linkedin and Facebook are necessary serve the corporate masters and the govt. (that loves that Zuckerberg, Lindkedin, et al $).
Back in the day, companies had to wait to see how old you looked, color hair, attractive or unattractive, fat or too thin, acne or no, etc. Not like any of this crap matters in an objective skill-based world. But now these bastards demand in their shill pieces that everyone needs to post photos, needs to get on board with saying how great businesses are (notice how they say never comment negatively). Hey, with 22.5 million unemployed and America descending into a plutocratic Banana Republic, is it okay to voice an objection? Hell no, then they'll hold it against you. Never criticize the powers - that's not what they want.
How's free speech and democracy working out for us now? Obviously it's not, and these freaks demand that we not open our mouths lest Linkedin and Facebook deem us the scum of the Earth. Pure tripe. This is America.
1) "When the people fear the government there is tyranny, when the government fears the people there is liberty." Jefferson (you can substitute corporations for govt. because Jefferson knew the score on banks and big corps. too and knew what they were capable of).
2) "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." Franklin.
Anyone out there still wonder why these people constantly bash liberal arts and anything beyond learning about being a cog? Knowing history, politics, world literature, use of propaganda, sociology, psychology, etc. might just get in the way of their plans. We can't be allowed to see what humans are capable of, that's not what they want or are doing now. Nope, they want cogs that fight for scraps and praise them everywhere on the Internet while doing it. And if you're too old or think too damn much, no job or food or home for you, now disappear and leave the powers to party and wipe their asses with our lives.
Corporations already spy on us, ad nauseum. Fakebook, Google, Microsoft, Mastercard Visa, they are all spying on us daily, we have "targeted marketing" going on everywhere, profiling people.
Yet corporations just get ripped off by China, absolutely nothing happens to corporations committing crimes or aything else.
WaPo has the ISP list spying on us, but I'm sure this scratches the surface.
It's more the NSA is late to the party, no comparison to what Silicon valley knows about everyone.
So, that's bogus. They try to claim that people are retiring and the "socioeconomic aspects of society" are changing. It's BS. The Population growth is primarily from immigration, which implies a disproportionate number of working age people.
Yet another deep number crunch to prove this crud wrong. I agree, they will do anything to deny the job crisis.
NSA has authority to intercept outside US without any issues. So they knew full well when foreign offices or subsidiaries of US based banks were communicating with drug cartels and terrorists, Iran, etc. So the NSA wasn't upset with all of those intercepts when the DOJ said they get a free pass?
Wonder how many intercepts (actual phone conversations) they have of big banks communicating with overseas threats? Must be tens of thousands plus. And yet all this information being gathered on law-abiding US citizens, visitors, residents, etc. Odd, seems Orwellian. Has 1984 been banned yet or can I still check that out at a library? Will the FBI question who checks it out?
The Chicago Fed said now only 80,000 jobs/month are needed to "steady" US unemployment. The lies are obvious when the Fed cited lower population growth and saw an already declining UE rate. Interesting, apparently these people earning good $ for being clueless ignored immigration increasing and the UE rate not decreasing but in fact simply ignoring the labor participation rate that is reaching decades-low levels. 80,000/month? The Fed sees everyone just retiring early (because they all must be super-rich), people not looking for work, no more immigration (they should talk to Congress, word is some laws now being passed actually have something to do with this and would increase immigration markedly), etc.
Close to 2 million college grads every year alone enter the market, but 80,000/month is now the new requirement for the entire market? Propaganda and lack of logic obvious. More unemployed, more immigration, lower participation rate, but the numbers drop? Companies not creating jobs (despite their "job creator" status) and same with govt = nothing good for long time.
Pretty astounding, although they use CPI-RS. I'll try to overview productivity.
http://www.bls.gov/news.release/prod2.nr0.htm
it's on 1st quarter productivity and costs
it says the real hourly compensation in manufacturing was down 8.3% (annualized rate) - even worse in durable mfg, down 9.4%...
Well, the first step is to pipe up, although I hear ya, it is incredible how facts do not penetrate the DC bubble.
Only so much any American can handle. I'm going to take more breaks and not comment so often just for my own poor American psyche. Too much corruption, news, and being locked out of any input/change will crush anyone these days, gotta stay semi-civilized. Thinking about this with no recourse takes a toll on everyone out here, all of us locked out of power are in this beast together.
Like it or not, immigration affects the labor supply. It is not static but over and over again, this is a fundamental truth and it is repressed wages as the general rule, worker displacement.
So, our Congress is ramming through "Comprehensive Immigration Reform", with more guest worker Visas than there are jobs in total, and America's workforce be damned.
So glad to see you back Kurtz! I missed your blazing commentary.
Brutality rules the day. Anyone that doesn't have a heart for their fellow Americans living through these times is amoral or just plain heartless. Looking around now, people that think just because they still have a gig in govt. or some business that they can still house and feed their families on without seeing our downfall is clueless. Even many of those jobs will soon be gone or lowering pay because tax base is shrinking daily. Too many people across every strata struggling for anything. College and grad school graduates unemployed or working gigs that pay what they paid in the 1990s; many of those jobs could be done by high school kids too. DOJ now only hires "interns" to work for free (they are ramping up that scam). Why the DOJ even hires anyone is beyond me considering Holder specifically said big bankstas won't be prosecuted (aka abrogation of one's duty to the law, law enforcement, and taxpayers paying DOJ salaries). And yet we need more labor arbitrage aka more cheap labor and visa recipients because damn it, with labor participation rates at record lows, big corporations/the govt. just can't find any Americans, really, they are really looking (blind as bats apparently). And to those poor Americans (literally and figuratively) who had the misfortune of being over 30 and can't get through Taleo and HR games and are unemployed now for 3, 4, 5+ years (despite military service, etc.), i wish I knew what to say.
Anyway, as long as big bankstas and CEOs of big corp. multinationals keep making beaucoup cash and stabbing us in our backs, here's to more of the same. Remember, if Dimon, Corzine, Blankfein, the Clintons, Obama, the GOP and everyone else doesn't party with you at their Davos or Hampton gatherings in the winter and summer, YOU DON'T MATTER. But hey, will the next generation of Clintons be a public servant? No need to be a teacher or cop or nurse for 30 years, just go right to being a Senator. Will the next generation from this or that GOP family follow in his Mommy's or Daddy's footsteps?
Who cares. Rinse, repeat, rinse, repeat, they get richer without ever worrying about jobs, we get boned. New decades, same story. $ + corruption talks, patriotism and care for your fellow human beings means nothing to them.
half way completed so I finished it without checking the site. But this doesn't matter, you are adding to the fact we are seeing all over the place indicators of economic contraction, that the QE buzz is coming to an end.
Working on manufacturing ISM right now.
Not used to other contributors so my bad, try to make a point to coordinate for you are pointing out almost the same thing I am, might be more clear, I use a lot of FRED graphs as you can see.
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