About Those 2.9 Million Jobs Lost In January... - Tyler Durden - February 9, 2014 - ...Of course, in keeping with the above "seasonal" transformation, what this means is that instead of having added a total of 3.290 million "statistical" jobs, the Bureau simply had to bump up the "fudge factor" to 3.357K or over, to match or beat the expectations. The difference between the 3.290MM and 3.357MM numbers? 2%. Which begs the question: why did whatever prompted the BLS to add just under 3.3 million "excel" jobs, not also prompt them to add another 57K jobs to the final adjustment number which was a minute fraction of the total fudge factor, and beat Wall Street estimates, reincarnating the narrative that the US economy is now back in "escape velocity" mode, it is "self-sustaining" and all those other spins and stories serious economists tell themselves to justify that QE has worked? Unless, it was specifically the intention of the BLS to not give such an impression. Whether the reason was precisely to give the Fed the loophole it needs to taper the taper in a few weeks time when the latest "economic recovery" thesis crashes and burns, will be uncovered over the next several months. Finally, for all those same very serious economists who lament the impact of the weather on the Establishment survey, and yet point to the surge in the Household Survey which "added" 638K seasonally-adjusted jobs, the unadjusted change there was a drop of 403K jobs. So there's that.
What Happened The Last Time The Unemployment Rate Dropped This Much - Tyler Durden- February 9, 2014 - ... Alas, that is the real reason why the labor force collapse continues and will continue even as America enters its next recession. Or depression. So what happens when one renormalizes the unemployment rate calculation and uses a 30 year average labor force participation rate as a constant instead of a variable to be plugged by the BLS to goalseek a desired result? This happens:
What the chart above shows is that the "real" unemployment rate in October 2009 was 11.2%. Where is it now? 11.1%. And there is your "Obama Recovery", when stripped of all the fancy veneer and TOTUSed propaganda, right there.
Low-Wage Hours At New Low As ObamaCare Fines Loom - Investor's Business Daily = Jed Graham - February 7, 2014 - Low-wage workers clocked the shortest workweek on record in December — even shorter than at the depth of the recession, new Labor Department data showed Friday. The figures underscore concerns about the ObamaCare employer insurance mandate's impact on the work hours and incomes of low-wage earners. It's impossible to know how much of the drop relates to ObamaCare, but there's good reason to suspect a strong connection. The workweek has been getting shorter in many of the same industries where anecdotes have piled up about employers cutting hours to evade the law's penalties.
» Obamacare: The Final Payment–Raiding the Assets of Low-Income and Poor Americans - Paul Craig Roberts - February 8, 2014 - The anonymous Obamacare expert, who provided us a year ago with the most complete account of Obamacare available, http://www.paulcraigroberts.org/2013/02/03/obamacare-a-primer/ has returned with an explanation of estate recovery. Obamacare herds the poor into Medicaid which requires some enrollees to forfeit homes and other assets they might have to the state to cover the cost of their medical care. The research article below is meticulous and demonstrates that Obamacare was not enacted to serve the people...
Top Adviser To The Chinese Government Calls For A “Global Currency” To Replace The U.S. Dollar - End of the American Dream - Michael Snyder - February 6, 2014 - The former chief economist at the World Bank, Justin Yifu Lin, is advising the Chinese government that the time has come for a single global currency. Lin, who is also a professor at Peking University, says that the U.S. dollar “is the root cause of global financial and economic crises” and that moving to a “global super-currency” will bring much needed stability to the global financial system. And considering how recklessly the Federal Reserve has been pumping money into the global financial system and how recklessly the U.S. government has been going into debt, it is hard to argue with his logic. Why would anyone want to trust the United States to continue to run things after how badly we have abused our position? The United States has greatly benefited from having the de facto reserve currency of the planet for the past several decades, but now that era is coming to an end. In fact, the central bank of China has already announced that it will no longer be stockpiling more U.S. dollars. The rest of the world is getting tired of playing our game. Our debt is wildly out of control and we are creating money as if there was no tomorrow. As the rest of the world starts moving away from the U.S. dollar, global power is going to shift even more to the East, and that is going to have very serious consequences for ordinary Americans. Sadly, most Americans don’t even realize what is happening. These comments by a top adviser to the Chinese government should have made front page news all over the nation. I had to go to China Daily to find the following excerpt…
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