US Hiring Slowed in September as Global Economy Weakened
Posted by richrobinson 8 years, 7 months ago to Economics
Seven years of high speed Obama Keynesian economics and this is where we are. Record numbers not in the work force. A global slow down. The potential for another '08 style collapse. I wonder what Socialist solution is in store for us next.
Love the MainScream Media!
or love MarketMinder.com
Most folks' home mortgages are 3-5 times their gross income. That's almost exactly what it was for me when I bought my previous house in Silicon Valley in 1978. 3x.
Those numbers are only scary if you're closely tuned to the MainScream Media's Adrenaline Generators.
If you are... Enjoy! But don't think I'm going to take those 'arguments' seriously.
China, for example, can't dent the US Dollar's importance in the world economy. Their economy is agrarian, despite their internal efforts to create a serious manufacturing economy. Meanwhile, the US economy is moving past 'manufacturing' to 'consumer.' China's seen the handwriting on the wall as their future and are struggling to move successfully to that next phase.
Their economy is top-down-controlled, one of the worst possible ways to get 'er done on earth! Their currency does not float, their bond market is negligible as far as the Outside World is concerned, and their "sudden drop" in growth... to the 6-7%/yr range is about what their 30+ year average growth has been, except for several engineered spikes. So a return to average is a catastrophe? Only for mainScream Media types.
Have you bought into that line, too?
No, they don't own all the US debt... the US does... something like 60+%. Europe owns about another 25%. China? Don't go there.
Honest numbers about Obama's 'Recovery' show some of the lowest stock market returns for his first term-and-a-3/4 since pre-Hoover for 3rd and 4th years of presidential reigns.
Try MarketMinder.com for more realistic appraisals of reality in the economic world...
No, wait... don't.... if you followed Ken Fisher or MM publications, their analysis and strategies would be adopted by more Thinking People and they might not do as good a job managing MY retirement funds with too much new competition.
Wife and I have been with them for 11+ years and after ALL fees and withdrawals (about $700k so far,) we're about 2% down from where we started... If SocSec doesn't evaporate, we've got a good cash flow for our lifestyle for about the next 125 years, per my spreadsheets.
And for about 13-15 years if SocSec went to zero tomorrow. (and we're in our 70s, essentially.
Enjoy!
I know roughly what margins are in the food retail business, but not in "food services."
If some product becomes so expensive that customers (individuals or restaurants?) stop buying it, I would assume that the product would leave the shelves or menus and stay off or be replaced by some less-expensive item.
Food stamps and other government "solutions" try to drive behavior from a top-down command system, which I tend to observe as being less efficient than the Free Market would provide. Yes, I'm a Friedman-ite, from that pov.
I'd be glad to dish on Forbes, Anti-BusinessWeek, Fortune and other similar publications, but it's late and I've got a lot of Intray to weed through.
Cheers!
Just to make money.
"so you can have the hassles of employees and pay the government more and be regulated more?"
When I see hassles, I try to find someone who thinks of that particular hassle as an interesting game or puzzle. I'm very far from an expert at that; I'm learning as I go.
I'm trying my damnedest to do it. :)
And pardon me, but average income per family IS a big deal if one has gone to the grocery store over the past 5 years and seen the prices for food - conveniently left out of the inflation indexing - rise by nearly 40%. I work in the food service industry, and rising prices are BANE to the whole industry because they already operate completely on high volume, low margin. When prices go up and volume drops, margins disappear entirely. Food stamps are a covert attempt at the government trying to take over the food service industry just like they have done with energy, finance, and now healthcare.
And why are incomes dropping? Obamacare's provisions have significantly contributed to that, as have the billions of dollars of regulatory burden added on since Obama was put in office because they impose new costs on businesses that don't provide value which can be sold to customers. Forbes has already reported on this several times. And basic supply and demand tells us that as things get more expensive, people buy less because they run out of means. It doesn't take a PhD in Economics to understand this (and BTW I have an MBA, so I'm not exactly a slouch when it comes to the matter).
You see one of the reasons is government is always redefining to suit there needs and without regard to intelligible accuracy. I digress. Why would I not treat what you just wrote as yet another proof of government cooking the books or an intentional act of pulling the wool over our eyes then adding a large bucket of cement.?
Yes, it IS a charade, played for political and media benefit and Low Information Voters get sucked in by it every time...
And THAT is also a difficult Problem To Solve!
Back when I was a kid, there was virtually no production line automation and as a postwar baby, I grew up in an environment where pretty much the only time people were out of work was when a union called a strike.
Jobs were basic, and 'careers' for 'educated people' included medicine, science, nursing and the like. The hierarchy of "management" was thin and exclusive.
Then, everyone got excited about women's rights and their participation in the labor force. No longer was the 'dream' of women to raise a family... it expanded to include going to high school, college, getting a well-paying job so that, as the divorce rate simultaneously was increasing, they would know they could support themselves and kids, if necessary, into the future.
So tons of women got degrees, the Glass Ceiling was discovered and attacked, and now Fortune Magazine can run a special issue of the World's Most Powerful Women.. CEOs and CFOs and such, of MAJOR world-wide companies.
So teachers and librarians' jobs go cheap and begging, as more women get Master's and Ph.D's and become majority of engineering and technical school classes and move up the corporate ladder, displacing the Old Boys on the charts.
Meanwhile, B-Schools teach their grads that, once they enter the workplace, their destiny is to be Leaders Of The World, and if it means climbing over and screwing others to get there, so be it.... And That is a quote/paraphrase from a B-School friend of mine just before she dropped that class at STANFORD UNIVERSITY ... yeah, the on in Palo Alto, CA... Silicon Valley.
So, Blarman, this is a VERY complex issue, with LOTS of inputs and outputs.
To bitch about 'average family income' being up or down is bullshit unless you bring to the party some of the many driving forces, or "Root Causes" as I refer to them... of the Problem.
https://www.youtube.com/watch?v=Okebm... is one video you might benefit from watching, along with most of the others Bill Whittle has up on YouTube.
But you won't.
Cheers!
In any case you keep leaving out the initial ten percent gimmee so it's ten percent of the work force minus seven percent of 90 percent. Prior to Clinton the gimmee was 5%. I reckon 15% is just around the corner if not 20%
SOS.
The same thing paid for foreign aid food shipments when the ethanol scam went through. But who got that money. BIG agri business the farm workers of Iowa got zilch.
And so it goes. piddle piddle piddle
I've been gone two days so I'm catching up!
No selling of stock
No going out of business or going bankrupt.
Sound like Atlas Shrugged?
The problem with this kind of "recovery" is that no nation can continue to grow its economy when its people are unemployed. India is a classic example, as is China. They have massive amounts of unemployment yet tout all kinds of "growth" that is dependent on other nations. It isn't self-sustaining.
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