Very humorous articles at best, but ore likely at worst sad articles. Nice try, but false, and sad. Look into the outflow of citizens. If things are soo bad actaul citiznes would be leaving en mass, as opposed to simply illegal immigrants. You may want to spend a considerable amount of time understanding the subject and the numbers. TO me this isn't the place to spend the time, but I am willing to suggest you should spend more time understanding what you think you are saying.
Very humorous articles at best, but ore likely at worst sad articles. Nice try, but false, and sad. Look into the outflow of citizens. If things are soo bad actaul citiznes would be leaving en mass, as opposed to simply illegal immigrants. You may want to spend a considerable amount of time understanding the subject and the numbers. TO me this isn't the place to spend the time, but I am willing to suggest you should spend more time understanding what you think you are saying.
September 13, 2012
SouthAmerica: Reply to taclander
Here is a little more humor for you:
For all practical purposes the US economic and financial system is dying a quick death.
The United States economic and financial system has over US$ 2 trillion dollars parked on the sidelines waiting to enter the game. The US economic system has a real unemployment rate of around 20 percent with a vast educated human capital and more than 50 percent of the unemployed has at least a college degree. The American economic and financial system has plenty of available capital and a vast number of educated human capital ready to go back to work, the only thing missing in the United States is capitalist brain power to create new ideas and innovation on how to create jobs in the US economic and financial system.
The best the US job market can produce today in a good month is around 96,000 jobs, most of these jobs are what we used to call “hamburger flipping type of jobs”, but today the US government classify these jobs as a manufacturing job, and the hamburger flipper is a hamburger engineer.
I am not kidding – that kind of crap is what pass today as American creativity and innovation....
All the Wall Street rocket scientists know how to make money these days is by creating Ponzi schemes and by taking everybody for a ride, and creating nothing of value for the US economic and financial system and also the global economic and financial system.
Here in the old USA we are aboard of the “Titanic” watching the big ship sinking a bit at the time......
SouthAmerica: ...The situation is getting more and more scary by the day, since I see a drastic increase of people who are losing their jobs and are going to the Labor Department to ask for help. The quality of the people unemployed is mind boggling, since over 50 percent of today's unemployed have at least a college degree.
For the first time in US history, over 50 percent of the people who are unemployed are very well-educated people.
So much hype for the American dream, but according to the Bureau of Labor Statistics out of 100 people that start working at age 25, by age 65—1 percent are wealthy, 4 percent have enough money to retire comfortably, 3 percent are still working (can't afford to quit), 63 percent depend on Social Security, friends or charity, and 29 percent are dead.
The reality is that over 90 percent of all Americans retire almost in poverty after working for 45 years.
For the people who are unemployed, the economic depression is already here. For the people who still have jobs, they know that if they lose their jobs it will be almost impossible to find a new job. The difference between past recessions and the current job slump is that the people laid-off in the past would be rehired when the economy recovered. This time around most people's jobs have gone forever.
We are in the beginning stages of a possible worldwide depression. Americans still in denial and they don’t want to recognize the reality—the best days of the American economy are long gone, and today the system is running on borrowed money.
The federal government, the states, the companies and the public are all surviving on credit. How far can this situation keep going on before the house of cards collapses?
*****
September 4, 2012
SouthAmerica: ...Today we have a bankrupt country in every sense - with a collapsing, obsolete and aging infrastructure around the country, a pile of debt sky-high, a declining quality of life and standard of living for most of the population, and a future that looks very bleak at best.
The US capitalist and economic system model is very obvious it is completely obsolete - it doesn't take a rocket scientist to figure that one out - for all practical purposes the US capitalist and economic system died a sudden death in the Summer/Fall of 2008 - since then we have a system that has been in critical condition, and have been kept alive based on heavy US government intervention, market maniputation, and all kinds of artificial stuff to keep the patient alive another day.
It is nothing to write home about it!!!!!!!
The US capitalist and economic system model it is completely broken, and Americans don't have a clue on how to fix it. The US corporations have trillions of US dollars parked in the sidelines waiting to enter the game, the US has a real unemployment rate of around 20 percent (and half of this human capital has at least a college degree) - the US dying system laid off 7,000 highly educated human capital from NASA, because Americans run out of ideas just about regarding everything.
And Americans are arrogant and they want to export to the rest of the world this very sick and dying economic and financial system.
Today the United States social, economic, and financial system is just a shadow of its glorious past - it's a system that is on its death bed, dying slowly and waiting to pass away.
*****
September 13, 2012
SouthAmerica: During the second-term of the Bush administration they got creative and they found a way to show that manufacturing jobs were being created inside of the United States economy, and they started counting hamburger flipping as manufacturing, to help produce statistics showing more jobs in what has been a fast declining sector of the U.S. economy.
***
FR News - February 26, 2004
White House Considering Reclassifying Fast Food Jobs As 'Manufacturing'
Is cooking a hamburger patty and inserting the meat, lettuce and ketchup inside a bun a manufacturing job, like assembling automobiles?
That question is posed in the new Economic Report of the President, a thick annual compendium of observations and statistics on the health of the United States economy.
The latest edition, sent to Congress last week, questions whether fast-food restaurants should continue to be counted as part of the service sector or should be reclassified as manufacturers. No answers were offered.
In a speech to Washington economists Tuesday, N. Gregory Mankiw, chairman of the president's Council of Economic Advisers, said that properly classifying such workers was "an important consideration" in setting economic policy.
Counting jobs at McDonald's, Burger King and other fast-food enterprises alongside those at industrial companies like General Motors and Eastman Kodak might seem like a stretch...
But the presidential report points out that the current system for classifying jobs "is not straightforward." The White House drew a box around the section so it would stand out among the 417 pages of statistics.
"When a fast-food restaurant sells a hamburger, for example, is it providing a 'service' or is it combining inputs to 'manufacture' a product?" the report asks.
"Sometimes, seemingly subtle differences can determine whether an industry is classified as manufacturing. For example, mixing water and concentrate to produce soft drinks is classified as manufacturing. However, if that activity is performed at a snack bar, it is considered a service."
The report notes that the Census Bureau's North American Industry Classification System defines manufacturing as covering enterprises "engaged in the mechanical, physical or chemical transformation of materials, substances or components into new products."
Classifications matter, the report says, because among other things, they can affect which businesses receive tax relief.
"Suppose it was decided to offer tax relief to manufacturing firms," the report said. "Because the manufacturing category is not well defined, firms would have an incentive to characterize themselves as in manufacturing. Administering the tax relief could be difficult, and the tax relief may not extend to the firms for which it was enacted."
David Huether, chief economist for the National Association of Manufacturers, said he had heard that some economists wanted to count hamburger flipping as manufacturing, which he noted would produce statistics showing more jobs in what has been a declining sector of the economy.
SouthAmerica: Ben Bernanke came through one more time with the only gimmick left to keep the US economic and financial system going and surviving a little longer.
The US economic and financial system is very sick and it's in a coma and the patient is dying a very slow death – just like the Soviet Union system slow death a few years ago.
Wall Street is asking for “QE Infinity” and George Soros and the top economist at “Goldman Sachs the Pillage People” - these “Rothschild Zionists” are saying that the major Central Banks – “the ECB and the FED” - are going to provide infinite market support to governments and to Wall Street.
It seems that the European Central Bank (ECB) is also adopting the major Central Bank innovation created by the US Federal Reserve it is called “The Abracadabra” system where the Federal Reserve can create an infinite number of US dollars from thin air.
It is not really from thin air – they just turn the computer on, and bring up on the screen the bank accounts of any bank they want to perform some magic, then they place on the screen any number they want with as many zeros as they desire on the right side of that number as follows:
I wonder if the Fed is limited in any way by the number of zeros that the Fed can add to its QE game.
This American innovation, the “Abracadabra” system of banking where the Federal Reserve can create infinite number of US dollars from thin air comes with just a minor drawback:
*****
Reuters – September 13, 2012
“U.S. stocks, oil rally on new Fed stimulus”
NEW YORK (Reuters) - U.S. stocks and crude oil prices rose while the dollar weakened on Thursday as investors bet that the Federal Reserve's fresh phase of monetary stimulus would support economic growth.
As part of a new round of quantitative easing, the Fed said it would buy $40 billion of mortgage debt per month to keep borrowing rates low, starting on Friday, and would keep its benchmark interest rates "exceptionally low" until the middle of 2015.
Stocks jumped, with the S&P 500 index on track for its highest close since December 2007, as lower interest rates make riskier assets like stocks more attractive.
