Incredible Speech By Wall Street Protester "End The Fed" 2011

In all the media coverage I have viewed over the course of the past few weeks I failed to hear anyone who put forth a compelling argument as to what they were protesting against. Then I saw this young man and I was truly blown away. Here is a young man who truly understands what is going on in this country and gives one of the best speeches I have heard in a long time.

Why the Rich Love High Unemployment

article from: truthout.org

Christina Romer, former member of President Obama's Council of Economic Advisors, accuses the administration of "shamefully ignoring" the unemployed. Paul Krugman echoes her concerns, observing that Washington has lost interest in "the forgotten millions." America's unemployed have been ignored and forgotten, but they are far from superfluous. Over the last two years, out-of-work Americans have played a critical role in helping the richest one percent recover trillions in financial wealth.

How the McEconomy Bombed the American Worker

By Andy Kroll

Think of it as a parable for these grim economic times. On April 19th, McDonald's launched its first-ever national hiring day, signing up 62,000 new workers at stores throughout the country. For some context, that's more jobs created by one company in a single day than the net job creation of the entire U.S. economy in 2009. And if that boggles the mind, consider how many workers applied to local McDonald's franchises that day and left empty-handed: 938,000 of them. With a 6.2% acceptance rate in its spring hiring blitz, McDonald’s was more selective than the Princeton, Stanford, or Yale University admission offices.

Underemployment at 19 Percent, Unchanged in a Year

by: Mike Shedlock

 

 

The most recent Gallup survey pegs US unemployment at 9.2%. That is not significantly different from the BLS report at 9.0%. However, the Gallup numbers are not seasonally adjusted the BLS unemployment rate is.

Comparing not seasonally adjusted numbers, Gallup shows a .2 percentage point drop in the last year while the BLS reports an improvement of .8 percentage points. Month after month the BLS is consistently lower. Counting part-time workers the Gallup results are even worse.

Gallup Pegs Underemployment at 19.1%, Same as 1 Year Ago

938,000 Applicants Turned Away From Employment At McDonalds

My God, what has become of the once great and mighty nation?

McDonald's released a statement today in which it announced that it has hired 62,000 workers recently on their April 19th hiring day. What is the most disturbing piece of information in the press release is that McDonald's received a total of 1 million applications in all.

Food and Energy Inflation is Not Transitory

Federal Reserve Chairman Ben Bernake on Wensday held his first press conference in history. The press conference took place shortly after the Fed announced its decision to leave the Fed Funds Rate at a record low of 0% to 0.25%, where it has been for an unprecedented 28 months. The U.S. economy is flooded with U.S. dollars and is close to overdosing on excess liquidity. The fact that our financial markets are not falling on the possibility of the Fed not unleashing QE3 immediately at the end of QE2, shows that we could be on the verge of hyperinflation with or without QE3.

Obama Budget Adds $9.5 Trillion to US Debt

On March 18, the non-partisan Congressional Budget Office released its annual “re-calculation” of President Obama’s 10-year budget proposal that he released in February. The CBO now estimates that Obama’s budget proposal will add $9.5 trillion to the national debt over the next 10 years, if enacted.

The latest figures project the national debt to increase by more than $2 trillion above what the White House put out in its forecast last month. My readers were not surprised, however, because in my February 22 E-Letter, I showed you that Obama’s 10-year “adjusted baseline” deficits added up to $9.4 trillion. Now the CBO says it will be even higher than the totals I showed you last month.

Why Isn't The iPhone Made In America?

John McCain provided some good laughs and made himself look stupid on a recent ABC news interview by telling Diane Sawyer that the iPhone and iPad are great examples of products that are made in America.

They're not.

Jesse Jackson Jr. Is An Idiot

Watch this video of Jesse Jackson Jr. delivering an address on the house floor where he claims that the way out of the current unemployment crisis is to change the Constitution so that every kid gets an iPod and a laptop. One of the reasons our country is in the shape it's in is because we elect dumb asses like this to Congress.

Do you think our founding fathers would agree with ol' Jesse Jr?

Labor Force, Greenspan And The National Debt

Schiff Report Video Blog for March 4th 2011

You Call This An Economic Recovery? 44 Million Americans On Food Stamps and 10 Other Reasons Why The Economy Is Simply Not Getting Better

When Barack Obama, the Federal Reserve and the mainstream media tell us that we are in the middle of an economic recovery, is that supposed to be some kind of sick joke?

Another All Time Record In Food Stamp Usage

Bernanke's plan to recreate Libya in our own back yard is continuing to work magnificently. It is no surprise that on Charles Ponzi day, the update to food stamp usage indicates that in December those receiving an average of $134 per month has just hit 44.1 million people. These lucky people will soon be able to buy an inflation adjusted 2.3 crumbs of notional bread with this generous handout from the Chairsatan.

Gallup Reports Underemployment Surges To 19.9%, February "Jobs Situation Deteriorates": As Bad As 2010

On one hand we have the Department of Truth about to tell tomorrow that NFP based on various seasonal and birth death adjustments increased by 250,000. On the other hand, we have Gallup which actually does real time polling without a procyclical propaganda bias. And Gallup does't have any good news: "Unemployment, as measured by Gallup without seasonal adjustment, hit 10.3% in February -- up from 9.8% at the end of January.

War Against Social Security

KINGSTON, NY, 3 March 2011 — Expensive wars and trillion dollar annual military/security budgets, bailouts and tax cuts for the mega-rich, and high unemployment and a shrunken tax base from jobs offshoring threaten price stability, the dollar’s role as reserve currency, and the financial viability of government in the United States.

CBO on Migrant Workers

came across this slide from the Census Bureau.

 

When you do the calculations on births/deaths/migrant workers you get the following results:

The REAL Unemployment Rate Is 22%

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.