So: Our first question this morning is “If this is Good Friday” why are the rest of us at work?
Must not be such a good Friday, after all.
First batch of data out is the March Unemployment report. Thanks to separation of Church and State, government offices at the Federal Level are open, although a few cities around the country actually have closed offices. Example: Tarrant County Texas offices are closed – they also take off Cesar Chavez day as part of their 12-holidays off this year.
Being self-employed, my employer sucks. I can’t remember a day off – even on the cruise ship in February… But back to point. (Aw, do we have to? YES!)
“Total nonfarm payroll employment increased by 126,000 in March, and the unemployment rate was unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, health care, and retail trade, while mining lost jobs.
Household Survey Data In March, the unemployment rate held at 5.5 percent, and the number of unemployed persons was little changed at 8.6 million. Over the year, the unemployment rate and the number of unemployed persons were down by 1.1 percentage points and 1.8 million, respectively.
Our usual summary of the “real deal” of what’s going on in employment goes like this…
1. Of the payroll increase of 126,000 jobs, 823,000 jobs were simply “estimated into existence” by the CES Birth/Death Model.
2. The Labor Participation Rate dropped to 67.2% – so down another tenth there.
3. The absolute number of people working was up only 34,000.
5. Average weekly earnings dropped 6-cents.
So, if you’re thinking “recovery” change your thinking to “rehab.”
Haves and Have Nots
As we’ve been preaching (but not enough to get an IRS tax exemption, dammit) the Rich are getting Richer and the Poor are getting Poorer. Here’s an official report that sums it up. Only the top 20% got ahead…the rest got behind.
And here’s a real gem for you:
Healthcare spending rose to $3,919 for July 2013 through June 2014. The level for spending for healthcare has increased every year since 1996. The most recent increase was driven by a 20.1 percent increase in health insurance expenditures.
So now we have to start asking the Labor Department why this isn’t showing up in the Cost of living date which alleges 1.8% and 3.9% increases for healthcare?
Want to know why I sulk and scowl so much? Here you go – numbers that don’t tie together worth a crap. Hand me the ViseGrips.
Greece Has the Right Idea
This is a dandy study of national IQ levels: Icelanders seem to be thought leaders, followed by the outspoken Irish, but the Greeks are coming along, too.
Germans are too dumb to rise up against Merkel for accepting the US continuing to hold Germany’s gold hostage…but maybe over time, they’ll wise up, too, when the Euro crumbles a bit more.
Quick! Look Surprised Dept: The US Lying?
The headlines this morning have it that the US is lying about the pending nuke deal (sell-out) to Iran.
However, other media reports are putting on the smiley-faces about this saying things like an “initial deal” has been reached. But when comes down to it, this is all face-saving political bullshit because it doesn’t address things like hostages.
While the Iranians keep spinning the centrifuges, el presidente is talking about wanting to visit Tehran before his shtick at the WH ends. I figure it would make a fine retirement spot…Iran is already bragging about concessions.
Israel is going nuts and all the while (straight-faced) Obama maintains that this is the best course on Iran.
Of course, any idiot – like Ures truly – can see what’s going on: Russia is arming the Iranians and we’re arming the Israelis and the next global war will be largely what’s been in the history books about prophesy forever.
Armed to the hilt, the Sunnis and the Shi’ite will go nuke, about the same time CERN will bend up reality, and the whole crapperee of a world ends like a bad sci-fi flick.
Speaking of Which
I’d like to thank Madison Ave. Mike who runs a big jewelry outfit in NYC on guess which street, for sending me the latest apocalyptic predictions out of Israel about what today’s blood moon, eclipse, and Good Friday bring with them.
Nice, huh? Even if half right, it’s still end of economics as we knew it…
Look Surprised #2
Love this headline: Ex-IRS ethics office lawyer disbarred for … ethics violations
A Link from Oilman2
And, as I am constantly pointing out, with more robotics and more software there are fewer jobs so we blow up the business model.
Wouldn’t be the first time, though, see the previous Depression which explains what excess debt and such needs to be wrung out of the system.
Police State Notes
I’ve got mixed feelings on this: Part of me gets it – neato crime fighting tool (but so is putting everyone in prison.
But the other part says what about the Constitution and prevention of unreasonable search and seizure and….Hey: How come corporations are running prisons for profit…WTF?
But then again, when we fly our old plane somewhere, that’s tracked…so am I paranoid or…or….
Should an innocent man fear his government? Well, now that you mention it…
A Senator to the Rescue?
I almost couldn’t believe my eyes when I saw this – and you might not, either: “Sen. Mike Lee rips Supreme Court, Congress for ‘subversion’ of Constitution.” RFO. (explained, DEF.2)
And then live it…
Don’tcha know the insiders will hate him for writing it?