Saturday, March 9, 2013
WATCH: Santelli Battles Liesman Over Bogus Job Numbers
'Get the Fed out of the market!'
'When are markets going to be normal again. When is Bernanke going to stop!'
Santelli and Steve Liesman discuss the jobs report this morning on Squawk Box.
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Today's Job Numbers
If you count those discouraged workers and involuntary part-timers as unemployed, the unemployment rate jumps to 14.3%, according to BLS.
Here's the official U-6 data from BLS: http://www.bls.gov/news.release/empsit.t15.htm
Update on workers not officially counted by BLS:
RECORD 89,304,000 NOT WORKING...
Record 89M Americans 'Not in Labor Force' -- 296,000 Fewer Employed Since January
FEB JOBS NUMBERS...
+236,000...
7.7%...
WHITES: 6.8%...
HISPANICS: 9.6%...
BLACKS: 13.8%...
TEENS: 25.1%...
Sources:
http://blogs.wsj.com/marketbeat/2013/03/08/live-from-new-york-its-jobs-friday-23/
http://finance.yahoo.com/news/us-adds-236k-jobs-unemployment-133137454.html
http://www.weeklystandard.com/blogs/77-percent_706624.html
MTV Congressman Gets Aggressive With Bernanke
Dr. Bernanke meets the Real World.
Bernanke battles MTV's Sean 'voice of the people' Duffy last week druing House testimony. Duffy is concerned the Fed Chairman is giving the wrong signal to Congress about the national debt, deficit spending and the incredibly over-hyped sequester.
Austerity my ass. By the way, Duffy is wrong about interest on the debt. Hell, he's not even close. It's way worse than he thinks.
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Meanwhile, the U.S. Debt Machine rolls on, borrowing $3 million per minute.
Related links:
MUST SEE: The Truth About The Sequester Cuts
Simple Sequester Math
CAUGHT ON TAPE: Obama Lies About Sequester
HILARIOUS: Maxine Waters Has The Sequester All Figured Out
Bloomberg: 'We Can Borrow INFINTE Amount Of Money'
'Thou Hast Sequestered Thy Lord, And My Wrath Is Great' - Obama Speaks
COMEDY: Drinking Your Way Through The Sequester
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Bernanke - Gold Varmint
Mark Levin: Government Is “Simulating the Collapse of Our Financial System, the Collapse of Our Society and the Potential for Widespread Violence”
Along with Rush Limbaugh and Sean Hannity, leading conservative radio
host Mark Levin reaches tens of millions of listeners weekly, and what
he talked about recently on his nationally syndicated show has sent
shivers down the spines of many of them.
A few years ago this was fringe theory, restricted only to the sphere of alternative (conspiracy) news.
Warnings of a massive economic collapse, government stockpiling of weaponry, and the idea that Americans could be broadly classified as terrorists and then detained indefinitely or killed often fell upon deaf ears.
Today, as more information ‘leaks’ into the mainstream, it is no longer just conspiracy theory. We now have some of the most influential journalists and commentators in the country alerting Americans to the possibility that everything the government has been preparing for the last several years may soon be realized.
The Pentagon and military have been war-gaming large-scale economic collapse and civil unrest for nearly four years. Those within our government who understand the ramifications a massive breakdown in our systems of commerce, transportation and justice are preparing by stockpiling weapons and ammo, tens of millions of food rations, and even emergency shelters. They are spending hundreds of billions of dollars on continuity of government programs and exercises, preparing for what they know is coming.
Now why would the government be doing this if there wasn’t a reasonable chance that such events could come to pass?
We’ve urged our readers to prepare a well thought out contingency plan for the very scenarios our government is spending your hard earned tax dollars on.
So you’d better have your own reserves. For those who fail to prepare, it will be horrific.
Hat tip Posse
A few years ago this was fringe theory, restricted only to the sphere of alternative (conspiracy) news.
Warnings of a massive economic collapse, government stockpiling of weaponry, and the idea that Americans could be broadly classified as terrorists and then detained indefinitely or killed often fell upon deaf ears.
Today, as more information ‘leaks’ into the mainstream, it is no longer just conspiracy theory. We now have some of the most influential journalists and commentators in the country alerting Americans to the possibility that everything the government has been preparing for the last several years may soon be realized.
I’m going to tell you what I think is going on.
I don’t think domestic insurrection. Law enforcement and national security agencies, they play out multiple scenarios. They simulate multiple scenarios.
I’ll tell you what I think they’re simulating.
The collapse of our financial system, the collapse of our society and the potential for widespread violence, looting, killing in the streets, because that’s what happens when an economy collapses.
I’m not talking about a recession. I’m talking about a collapse, when people are desperate, when they can’t get food or clothing, when they have no way of going from place to place, when they can’t protect themselves.
There aren’t enough police officers on the face of the earth to adequately handle a situation like that.
I suspect, that just in case our fiscal situation collapses, our monetary situation collapses, and following it the civil society collapses – that is the rule of law – that they want to be prepared.
There is no other explanation for this.
Sourced via Red Flag News
The Pentagon and military have been war-gaming large-scale economic collapse and civil unrest for nearly four years. Those within our government who understand the ramifications a massive breakdown in our systems of commerce, transportation and justice are preparing by stockpiling weapons and ammo, tens of millions of food rations, and even emergency shelters. They are spending hundreds of billions of dollars on continuity of government programs and exercises, preparing for what they know is coming.
Now why would the government be doing this if there wasn’t a reasonable chance that such events could come to pass?
We’ve urged our readers to prepare a well thought out contingency plan for the very scenarios our government is spending your hard earned tax dollars on.
- Have, at a minimum, two weeks worth of emergency food and water in the event of a breakdown in the just-in-time delivery systems that keep our grocery store shelves stocked. (Two weeks is a bare minimum, plan on 90 days)
- Plan on having to defend yourself, your home, and your food stockpiles, because if law and order breaks down, you’re on your own.
- Learn critical skills that may be the difference between life and death including basic medical skills, survival skills and self defense strategies
- Have physical precious metals on hand as a mechanism of exchange should the monetary system fall apart.
- Look for a home or retreat in strategic locations that will help insulate you from widespread chaos in high population areas.
So you’d better have your own reserves. For those who fail to prepare, it will be horrific.
Hat tip Posse
Fractal analysis forecasting a super-sized correction? Mar 8 2013 CrushT...
Roubini: Correction in second half
Dr. Doom says U.S. fiscal drag will eventually catch up with the stock market in the second half of 2013.
Dollar rally just getting started: Societe Generale
Faber: Rally will end ‘badly’
Is It Really 2007 Again?
Don’t Lose Sight of The Macro Message: U.S. Personal Income Fell $505.5 Billion, Sales Plunge, French Unemployment Rises Again to Highest Since 1999, Fitch Downgrades Italy, China’s Economic Crisis Looming, Dollar Breaks 10-year Falling Channel And The Euro Is Breaking Down!
A World’s Record: More Than 30% of U.S. Population Unemployed
THAT IS A STAGGERING NUMBER!
The number of Americans designated as “not in the labor force” in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor. This means that the number of Americans not in the labor force increased 296,000 between January and February.
The Bureau of Labor Statistics (BLS) labels people who are unemployed and no longer looking for work as “not in the labor force,” including people who have retired on schedule, taken early retirement, or simply given up looking for work.
The increase marks the second month in a row, after rising in January from 88.8 million in December. Those not in the labor force had declined in December from 88.9 million in November.
http://cnsnews.com/news/article/record-89304000-americans-not-labor-force-296000-fewer-employed-january
89 million not in the labor force = 29%, give or take, assuming the US population is 310,000,000 + official unemployment 7.7%
DOW CLOSES AT BRAND NEW ALL-TIME RECORD HIGH: Here’s What You Need To Know
Another all-time high for the Dow.
First the scoreboard:
Dow: 14,390, +61.4 pts, +0.4 percent
S&P 500: 1,551, +6.9 pts, +0.4 percent
NASDAQ: 3,244, +12.2 pts, +0.3 percent
The number of Americans designated as “not in the labor force” in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor. This means that the number of Americans not in the labor force increased 296,000 between January and February.
The Bureau of Labor Statistics (BLS) labels people who are unemployed and no longer looking for work as “not in the labor force,” including people who have retired on schedule, taken early retirement, or simply given up looking for work.
The increase marks the second month in a row, after rising in January from 88.8 million in December. Those not in the labor force had declined in December from 88.9 million in November.
http://cnsnews.com/news/article/record-89304000-americans-not-labor-force-296000-fewer-employed-january
89 million not in the labor force = 29%, give or take, assuming the US population is 310,000,000 + official unemployment 7.7%
DOW CLOSES AT BRAND NEW ALL-TIME RECORD HIGH: Here’s What You Need To Know
Another all-time high for the Dow.
First the scoreboard:
Dow: 14,390, +61.4 pts, +0.4 percent
S&P 500: 1,551, +6.9 pts, +0.4 percent
NASDAQ: 3,244, +12.2 pts, +0.3 percent
FED continues to attempt to game the system while everyone suffers from this shitty economy!
You can tell these games are all about balance sheets. Who gives a
flying fuck if the FEDS balance sheet has losses ? They just print up
some more dollar script notes and walla!
Are they putting on this show for everyone to have concern while they rape and pillage the world?
from CNBC:
…
Under the existing plan, the Fed would commence asset sales at some point after policymakers begin to raise interest rates.
But things have changed since the plan was put in place.
Not only has the central bank’s balance sheet grown in value, but the average duration on the bonds has risen by 3 years to about 10 years. That means the Fed could suffer big losses on its portfolio later this decade if it sells assets when interest rates climb.
http://www.cnbc.com/id/100535765
Bubble, loss concerns played down by Fed officials
…
The Fed’s balance sheet has reached $3 trillion in recent weeks.
When interest rates rise, the Fed may suffer losses that mean it will not pay any income to the government.
If Congress is feeling budget pressure, it may be unhappy with no income from the Fed.
This could lead the Fed to delay balance sheet normalization and fail to exit its easy policy as needed to keep inflation in check.
Powell said this scenario seemed “highly unlikely.”
http://articles.marketwatch.com/2013-02-22/economy/37233141_1_balance-sheet-asset-bubbles-governor-jeremy-stein
Are they putting on this show for everyone to have concern while they rape and pillage the world?
from CNBC:
…
Under the existing plan, the Fed would commence asset sales at some point after policymakers begin to raise interest rates.
But things have changed since the plan was put in place.
Not only has the central bank’s balance sheet grown in value, but the average duration on the bonds has risen by 3 years to about 10 years. That means the Fed could suffer big losses on its portfolio later this decade if it sells assets when interest rates climb.
http://www.cnbc.com/id/100535765
Bubble, loss concerns played down by Fed officials
…
The Fed’s balance sheet has reached $3 trillion in recent weeks.
When interest rates rise, the Fed may suffer losses that mean it will not pay any income to the government.
If Congress is feeling budget pressure, it may be unhappy with no income from the Fed.
This could lead the Fed to delay balance sheet normalization and fail to exit its easy policy as needed to keep inflation in check.
Powell said this scenario seemed “highly unlikely.”
http://articles.marketwatch.com/2013-02-22/economy/37233141_1_balance-sheet-asset-bubbles-governor-jeremy-stein
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