$this->bbcode_second_pass_quote('', '[')img]http://www.zerohedge.com/sites/default/files/images/user5/imageroot/havenstein/Jobs%20Composition.jpg[/img]
When we looked at the changing composition in the US work force one month ago, we discovered, to our dismay, that since the start of the Depression, the US labor pool has transformed substantially from a full-time time to an increasingly more part-time dominated one.
Specifically we found that "America has lost 10.5 million full time jobs, offset by a 2.8 million increase in part time jobs" and that "the US not only lost 478k seasonally adjusted full time workers in November but has lost full time jobs for 6 months in a row, for a total of 1.6 million job losses!" In an attempt to further refine this number, we present some TrimTabs data which proves beyond a shadow of a doubt, that the Fed's QE (1, Lite, and 2) efforts, when expressed in labor force "pick up" has been an abysmal failure. To wit: "In 2010, the BLS reports that the economy added 1.12 million jobs.
Almost 60% of these jobs are in one of three relatively low-paying areas—temporary employment (308,000), leisure & hospitality (240,000), and retail trade (116,000)." In other words, of the 1.1 million private jobs gained in the last year, 650,000 or 60% are jobs that have absolutely no real wealth creation capacity, nor do they provide any real benefits. In fact, the retail jobs are becoming increasingly distressed, as more Americans shop online, leading to a job pickup... in Chinese warehousing and QC plants, and the irretrievable loss of even the lowest paying US jobs.
http://www.zerohedge.com/article/how-fed-spent-2-trillion-and-exchange-we-got-650000-temp-leisure-and-retail-jobs
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$2 Trillion And In Exchange We Got 650,000 low wage McJobs
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$2 Trillion And In Exchange We Got 650,000 low wage McJobs
by Sixstrings » Wed 12 Jan 2011, 19:53:08
First of all, we're not even creating enough jobs to take care of population increase.. much less get the unemployed back to work. But of the jobs the economy did create.. take a look at that pie chart. They're McJobs. In case anyone doesn't know what "Leisure & Hospitality" is, that's mostly your maids, bartenders and servers -- these are the absolute lowest paying jobs in the United States, with zero benefits. You can't get lower wages than this kind of work, unless folks were to work for free or we re-institute slavery (don't give 'em any ideas).
Sadly for the folks who would take even a cook's job or some such, all these fields are under intense pressure from Mexican and other Latino immigration. Increasingly, Americans can't get these jobs anyway because they don't speak the language -- Spanish.
And all this after $2 trillion in Fed stimulus.. this is the best we could manage. Makes you wonder how bad the jobs picture will look whenever they have to stop the trillions in quantitative easing.
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Re: $2 Trillion And In Exchange We Got 650,000 low wage McJo
by Plantagenet » Wed 12 Jan 2011, 20:04:23
Obama is a dope.
For two trillion dollars we could've made massive improvements in our infrastructure. Nuclear power plants cost about 5 billion each, so for $250 billion we could've built 50 new nukes, one for each state, supplying enough electricity to shut down coal-powered plants across the USA. We could've built new high speed train systems from coast to coast, with US manufacturers to create high paying US jobs, as the Chinese are doing in China. We could've built mass transit systems and light rail commuter systems in the cities.
But what did Obama and the dems do instead? They dithered away two trillion dollars on pork and fraud and higher pay and more foreign travel for government employees, state employmees, etc..
Obama is an absolute dope.
For two trillion dollars we could've made massive improvements in our infrastructure. Nuclear power plants cost about 5 billion each, so for $250 billion we could've built 50 new nukes, one for each state, supplying enough electricity to shut down coal-powered plants across the USA. We could've built new high speed train systems from coast to coast, with US manufacturers to create high paying US jobs, as the Chinese are doing in China. We could've built mass transit systems and light rail commuter systems in the cities.
But what did Obama and the dems do instead? They dithered away two trillion dollars on pork and fraud and higher pay and more foreign travel for government employees, state employmees, etc..
Obama is an absolute dope.
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Re: $2 Trillion And In Exchange We Got 650,000 low wage McJo
by Plantagenet » Wed 12 Jan 2011, 20:07:14
duplicate post
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Re: $2 Trillion And In Exchange We Got 650,000 low wage McJo
by Sixstrings » Wed 12 Jan 2011, 20:09:54
$this->bbcode_second_pass_quote('Plantagenet', 'F')or two trillion dollars we could've made massive improvements in our infrastructure. Nuclear power plants cost about 5 billion each, so for $250 billion we could've built 50 new nukes, one for each state, supplying enough electricity to shut down coal-powered plants across the USA. We could've built new high speed train systems from coast to coast, with US manufacturers to create high paying US jobs, as the Chinese are doing in China. We could've built mass transit systems and light rail commuter systems in the cities.
Well in reality the Federal Reserve is a bank for bankers, they're not in the business of funding infrastructure. Most of this money has been funneled into global capitalism, ending up building infrastructure in places like China, Chile and all over South America (which is why they're frantically trying to devalue their currencies to fight all this hot American money pouring in).
If they HAD spent the money on infrastructure, I wonder if that would have caused an inflation problem? As it is, the Fed QE trillions just go into a black hole and it's all paper money and nothing real.
The Obama stimulus was similarly wasted.. just made up budget shortfalls for states, but that's all temporary bandaids it doesn't build any groundwork for growth.
Last edited by Sixstrings on Wed 12 Jan 2011, 20:16:18, edited 1 time in total.
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Re: $2 Trillion And In Exchange We Got 650,000 low wage McJo
by Daniel_Plainview » Wed 12 Jan 2011, 20:13:26
$this->bbcode_second_pass_quote('Sixstrings', 'A')nd all this after $2 trillion in Fed stimulus.. this is the best we could manage. Makes you wonder how bad the jobs picture will look whenever they have to stop the trillions in quantitative easing.
The total cost of these McJobs is far more than $2T, when you add up the cost of ZIRP, QE2, Fed emergency programs, bailouts, pork-barrel stimulus, etc.
But this huge price tag was worth it, because we got a much-sooner-than-expected "recovery" -- which turns out to be nothing more than part-time temp jobs.
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Re: $2 Trillion And In Exchange We Got 650,000 low wage McJo
by Outcast_Searcher » Thu 13 Jan 2011, 06:35:46
$this->bbcode_second_pass_quote('Plantagenet', 'F')or two trillion dollars we could've made massive improvements in our infrastructure. Nuclear power plants cost about 5 billion each, so for $250 billion we could've built 50 new nukes, one for each state, supplying enough electricity to shut down coal-powered plants across the USA. . . . We could've built mass transit systems and light rail commuter systems in the cities.
These are good goals. For TWO TRILLION dollars, we should think really big, IMO.
We could have solved, or gone a long way toward solving many real problems that are IN OUR FACE but we are ignoring. Some blatantly obvious picks:
a). How about funding rebuilding/repairing our nearly 110 year old water distribution system that is an unmitigated disaster? And safe, reliable supplies of fresh water isn't exactly an option for cities.
b). How about rebuilding / repairing our system of many unsafe or soon to be unsafe bridges and roadways that we keep ignoring?
c). How about dealing with funding MEANINGFUL change/improvement in our education system. (K-12 fiasco, or college cost menace (student debt recently surpassed all credit card debt) - take your pick, or how about both?
d). How about coming up with a VIABLE US energy policy to get us through the next 30 years or so of real world fossil fuel needs we KNOW we will have until green tech. has even a real CHANCE of supporting most of the projected energy demands we face in the U.S.?
$this->bbcode_second_pass_quote('Plantagenet', '
')But what did Obama and the dems do instead? They dithered away two trillion dollars on pork and fraud and higher pay and more foreign travel for government employees, state employmees, etc..
But to liberals, ANY government is good government, as long as it is MORE. They strongly favor "helping" people, generally purported to be helpless - thus all the pork, as you accurately point out.
Sadly, all they do is make the long term plight of the "helpless" worse, and damage our financial ability to face problems like the above when they finally FORCE us to (in emergency mode, at almost unimaniginable expense).
Despite all the rhetoric from the left and all the (mostly false) claims that the tea party is just racists, crackpots, etc -- the REAL agenda of the left is to do ANYTHING they can to keep the idiot pork spending on wealth redistribution and "helping" programs going -- at any cost. Since the tea party opposes that, the tea party must be roundly attacked (and their message of less spending must be distorted), lest they succeed.
Yes, what we need is MORE government...
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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), well, anyway, goldman and friends decided what to spend and where. and, i agree with your list, really, i do! but me thinks you have too much right-wing nuttery in your tea.
