Screaming Jobs, Twisted Stats

Yeah, short column.  You have a party to get ready for. 

Or a BBQ, trip to the lake, or the river, or the hook-up joint, or something, right?

So right to it, then:  Hot off the press is the jobs report:

”Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent, the U.S. Bureau of Labor Statistics reported today.

Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing. Household Survey Data The unemployment rate declined by 0.2 percentage point to 5.3 percent in June, and the number of unemployed persons declined by 375,000 to 8.3 million. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (4.8 percent), adult women (4.8 percent), and blacks (9.5 percent) edged down in June, while the rates for teenagers (18.1 percent), whites (4.6 percent), Asians (3.8 percent), and Hispanics (6.6 percent) showed little change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) declined by 381,000 to 2.1 million in June. These individuals accounted for 25.8 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has declined by 955,000.

As usual, we have a nickel’s worth of insight…so here goes:

The way to make any job report look great is to whack the workforce.  And this morning’s report says the workforce was down 432,000.


Like almost half a mil just disappeared?  Presactly.

The size of the fib shows up in something called the Labor Participation Rate which collapsed from 62.9% previously to 62.6% this month.,  It’s the statistical casket forensic economists open.

In the whole damn country, only 1,000 new jobs making things in the last month (goods producing) and 222-0thosuand new jobs in the service sector.

If you want to know what this means, and it really is dangerous as hell, go read yesterday’s report which lays out how the collapse in service jobs is coming.

And if that doesn’t cheer you up, of those 223-thousand new jobs reported?

213-thousand were simply “estimated” into existence in the CES Birth Death Model.

I wonder what time the liquor stores open?  Because this kind of data can  drive one to drink.

Holiday Rally Carryover

You know what the market often does before a holiday, right?  Rally.

And that is what  a good part of yesterday was.  Up 138 points and set to open higher this morning.

How Greece Figures

How kind!  They will be holding their referendum which will, in a sense, be about whether to exit the Eurobleeding Union on Sunday.  Take the bait or take a hike?

If the vote says take the bailout (offered by shifty-eyed bankster types)  the finance minister says he will immediately resign.

Don’t let the door hit you in the butt on the way out.  People will almost always take the next free lunch, even if they will get stuck for an even bigger tab down the road.  It’s just how folks are wired.

And not just there.  We have the same disease, just a different set of pox and plagues. But not that much different.

Comes down to it, we don’t need to register guns, so much as to register printing ink and high rag-content paper, if’n you follow.

Common Sense and Obamacare

You really want to know why I don’t like Obamacare?

Simple:  Insurance companies are making a frigging killing because of it.

Let me ask you this:  Why do you think the NY Times is headlining “Centene Plans $6.3B Acquisition of Fellow Insurer Health Net?”

Here’s a major clue:  Companies don’t go forking out $6.3 B expecting to lose money on the deal.  And that money is coming from where?  Sick people and government.  And there’s enough fat in this to make fortunes for the paper-hangers.

Truth is brutal, but if we had a workable federal healthcare system, we would not be paying 20% (or more) in overhead so insurance outfits could make bank on illness.

We would deliver actual care for actual costs. 

Healthcare would be cheaper without the private sector markup.

But that doesn’t happen in Obamacare because the Insurance Industry got fed and in return the lawmakers who supported it will reel in the out of state contribs and the whole Leech Class will continue.

I know you understand this stuff, but it just frosts me when I see billions paid for insurance companies that make fat profits  on  the back of that person in the mirror over there.

T’ain’t right.  But is sure is profitable.

Distracto Land

How long will we see the “deadly escaped killers” story rehashed?  Next thing you know we’ll find out one of the perps has a flatulence problem and OMG…

Reelz channel will carry the Miss Whatszit Pageant.    This after The Don offended the sensitive with a little businesslike talk.

Francis Bacon portraits fetch £30 million at auction.”

Not that it matters, since neither you or I are (wait for it……) bringing home the Bacon.

Something Seriously Weird

This headline got me to thinking:  “Worm breeds by injecting sperm into its own head when there are no mates around…”

I don’t know how much you have studied the ancient practice of Kundalini (Wikipedia ref here), but could it be that worms got their first?

Whew…yes, we all need a vacation, now.

6 thoughts on “Screaming Jobs, Twisted Stats”

  1. Gotcha on obamacare. Son turned 26, off dear old dads insurance and on to Obama care. 400 a month for him and son. Wife still on her parents till 26. Well that’s convenient for insurance companies. Copays 25 for office visit, 500 for hospital visit.and yada yada yada. Or yea, 7000 dollar out of pocket expence. Somebodies getting rich.all on 30k a year. You know part-time work so employer doesn’t help out. Oh that’s right the 30 is the new 40 (hours a week). I guess student loans get the back burner to obamacare. Don’t want to get fined. Dam , they my never get out of my basement. Have a nice fourth, I know I will. Dave

  2. In five years all the news from Greece has been, soup kitchens and people living on the street and the number of people kill them self. That said from any nation is sick, to vote NO would make it no worse then it has been. Iceland said no to bankers and they are doing better. In less time then what Greece has got by saying Yes. I know it not total the same. But this idea we need to keep banks supported when we can not control how they risk the money on these side bets.
    Leading money on house at least mean they get house but this other side bets have nothing behind them.

  3. If Greece stays in the union, their defaulted debt stays on the balance sheet of the ECB, where the money is just printed to cover it by using QE. It they leave the union, the debt goes back on the balance sheets of the major EU banks, who were forced to refinance the Greek debt a while back, and would place them in insolvency. If Greece is declared in default, mere semantics, then $3trillion of euro credit default swaps come up for settlement, and there is not that much money laying around to make the settlement. That would bring down the world banking system.

    Just another example of world affairs where there is no good decision to be made. And for those of you who still remember fundamentals, the numbers for the usa are much worse than the numbers for Greece. If Greece is like going off a 10 story building, the usa is like a 50 story building. The difference is that for the USA, there is more time for screaming in terror before the end.

    Americans are like the guy who jumped off a hundred story building. As he passed the 50th floor, he says “so far, so good!”

    Excuse me America, but you economy has already gone over the edge. The fed printed enough money for a soft landing, but the bankers took it and went home. Now the fed is out of paper, so that ominous feeling you have is just approaching pavement.

    That’s how it looks from Ecuador, six years in.

  4. You wrote:
    “You really want to know why I don’t like Obamacare?

    Simple: Insurance companies are making a frigging killing because of it.”

    We have a health care industry here in the USA…

    Before ‘Obamacare’ we were #1 in cost & #47 in quality, after? Still #1 in cost…

  5. “Just another example of world affairs where there is no good decision to be made.”

    ahhhhhhhh…..noones ever heard of Star Trek episodes…and the “Kobayashi-Maru” problem”…there is no soln. but Capt. Kirk nailed that answer.

    In Star Trek II: The Wrath of Khan, the simulation takes place on a replica of a starship bridge, with the test-taker as captain and other Starfleet members, officers or other cadets, in other key positions. In the scenario of the 2280s, the cadet receives a distress signal stating that the Kobayashi Maru has struck a gravitic mine in the Klingon Neutral Zone and is rapidly losing power, hull integrity and life support. There are no other vessels nearby. The cadet is faced with a decision:

    Attempt to rescue the Kobayashi Maru??’?s crew and passengers, which involves violating the Neutral Zone and potentially provoking the Klingons into hostile action or an all-out war; or
    Abandon the Kobayashi Maru, potentially preventing war but leaving the crew and passengers to die.

    If the cadet chooses to save the Kobayashi Maru the scenario progresses quickly. The bridge officers notify the cadet that they are in violation of the treaty. As the starship enters the Neutral Zone, the communications officer loses contact with the crippled vessel. Klingon starships then appear on an intercept course. Attempts to contact them are met with radio silence; indeed, their only response is to open fire with devastating results. The objective of the test is not for the cadet to outfight the opponent but rather to test the cadet’s reaction to a no-win situation.

    …now how bout some ‘original thinking’?? ie, ‘reprogramming’ the bankers?

    James T. Kirk’s test

    James T. Kirk took the test three times while at Starfleet Academy. Before his third attempt, Kirk surreptitiously reprogrammed the simulator so that it was possible to rescue the freighter. This fact is revealed in Star Trek II: The Wrath of Khan, as Kirk, Saavik and others are marooned. Saavik accuses Kirk of never having faced the no-win scenario.

    Kirk replies that he doesn’t believe in such a thing. Despite having cheated, Kirk was awarded a commendation for “original thinking”.

  6. how the real world works=A group of bankers mostly not even living here in the usa have taken over in 1913, they own most all the corporations that includes hospital and everything associated with it , they charge at least $1000 an hr and if you cant pay ,they put a lien on your property and then eventually take over your property for pennies on the dollar, the same as in the last depression , so to cure this problem do like north dakota, iceland and i hope greece has the balls to arrest some bankers and let each state or country make their own money and get rid of this overcoming world wide order/_\

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