May 4, 2012 - 7:06 am
According to the vital ZeroHedge blog, over a half million people gave up looking for work this month and the Labor Force Participation Rate dropped to its lowest number since 1981 – 64.3%, a thirty year low. This is the number to watch and not the unemployment percentage. (Obviously, the stock market agrees because it is dropping today.)
If this decline continues, the situation could become catastrophic. The way back will not be easy. Be careful what you wish for, Mitt Romney.
Interesting question: Will the mainstream media report this accurately or will they continue to pretend some kind of “recovery” is in the air for the sake of Obama? If they do continue, what remains of their paltry reputations may be in tatters by November.
“Will the mainstream media report this accurately…”
You’re kidding, right?
I have no doubt that as soon as Obama is defeated the media will ‘discover’ that the country has been in a depression since 2008.
What will the reckoning look like when it finally dawns on majority of Americans that the political class and their media allies have been perpetrating a collection of gigantic, ruinous frauds on the Western world? It won’t be pretty, and those of us who are onto the scams shouldn’t necessarily wish for things to get a lot worse, because the outcome may not be what we desire.
I’m also afraid that many people who do “get it” are suffering from a kind of Stockholm Syndrome, and will keep re-electing the wrong people and keep listening to the bad media.
OBAMA’S TRICKLE GROWTH ECONOMICS
Obama has reversed the Great Recession blah, blah, blah. But thanks to his spread the wealth, anti-business and burdensome regulatory, tax and spending policies we’re in the worst recovery since the Great Depression with economic fear an pessimism so thick that there’s a the very real danger of backsliding as consumer confidence falls. This time during the Reagan years we were in a booming recovery with economic growth at 6.8% and jobs falling from the sky. But all that Obama (the anti-Reagan socialist) can show for an $860 billion stimulus and trillions printed by the Fed is growth of 2.2%, 2/3rds less than the booming Reagan Supply-Side recovery-amazingly this is what the Left disparagingly called “Trickle Down Economics” as if creating millions of jobs were a trifle. Fine. With GDP growth at an anemic 2.2% or less (this will be revised down I predict) we are in Obama’s Trickle Growth Recovery-not enough to get him reelected for four more disastrous years of fairness, class warfare and folly.
I’m already seeing the story spun as “Mean Big Business just won’t hire anybody, not really Obama’s fault.”
If this pack of losers had any self respect, they’d all resign now, so that some adults can get this nation back on track.
Of course, self respect takes a back seat to their obsessive drive to retain power, no matter the cost to the nation. Pathetic.
The Mostly-Mush-Media is already starting to hedge their bets somewhat. From “happy days are here again” in Feb, I am reading stuff like “somber news” and “could impact Obama’s re-election chances.” In fact, Reuters even mentioned the fact that the 8.1% headline number was due to lower labor force participation in the first four paragraphs of their story. They’re trying as hard as they can to find a silver lining for their boyfriend but it’s getting harder. And it shows.
Is This what Mr. Obama is Planning? Then he IS guaranteed re-election by presiding over the collapse his administration engineered.
This is from Beacon Equity Research:
In a riveting interview on TruNews Radio, Wednesday, May2, 2012, private investigator Doug Hagmann said high-level, reliable sources told him the U.S. Department of Homeland Security (DHS) is preparing for “massive civil war” in America.
“Folks, we’re getting ready for one massive economic collapse,” Hagmann told TruNews host Rick Wiles.
“We have problems . . . The federal government is preparing for civil uprising,” he added, “so every time you hear about troop movements, every time you hear about movements of military equipment, the militarization of the police, the buying of the ammunition, all of this is . . . they (DHS) are preparing for a massive uprising.”
…
“What they [DHS] are expecting, and again, this is according to my sources, what they’re expecting is the un-sustainability of the American dollar,” Hagmann said. “And we know for a fact that we can no longer service our debt. There’s going to be a period of hyperinflation . . . the dollar will be worthless . . . The economic collapse will be so severe, people won’t be ready for this.”
Anyone know anything about these sources?
You know, there ARE internment camps all around the US masked as FEMA depots with camouflaged military
equipment (not to be mistaken for National Guard).
Need Proof?
Another MF Global (re: Corzine)Style Collapse Seems To Be Underway
May 5, 2012 10:20 am
Penson Worldwide Inc. is in trouble. Their stock (PNSN on Nasdaq) has dropped from a high of $31.50 per share to $0.443. This, over the last six months.
Both Ann Barnhardt and Market Ticker.org have posted warnings about this. Barnhardt says:
In case you didn’t know, I was clearing through Penson when I closed my firm last November. I was blessed in that all of my back office stuff was handled by a lovely little boutique office in Wisconsin that handled IBs like me, that had just been acquired by Penson before I came on board. I never spoke to Chicago or New York, just a merry band of Wisconsinites who were always wonderful to work with. I was truly blessed in that. (The cattle and feeder futures paper that I did in the pit, as opposed to the electronic, which was less and less over the years as the electronic markets grew and grew, was actually all done as give-ups by the FC Stone meat desk. Shout out to Larry and the Stooges, who still call to chat every so often, and have a photo of me with my pink AR-15 hanging in their desk. Good people.) But, the Penson ship is going down, it appears.
They were in trouble last year when MF Global happened and were looking to dump their European divisions, and they did bounce a bit after MF Global when they unloaded their Aussie holdings, but it looks like it is all but over for them. The stock is cratering, and there is chatter on the net that they are taking forever to get cash withdrawls out, posted and cleared. That’s a very bad sign. MF global was the same way in the weeks before the end.
The extreme danger is that the CME is going to do with Penson what they did with MF Global and NOT backstop and keep customers liquid when the end comes.
MF Global proved that the CME is no longer going to fulfill its fiduciary duty and will screw clients twelve ways from Sunday without hesitation. DO NOT get caught up in that crap. Just get out of the whole, stinking, festering, putrefied mess.”
Market Ticker says this:
If we get another MF Global folks, the market will drop 5,000 DOW points and not bounce, as that will be that — in the grains, in the commodities, in everything.”
Has MSM said BOO! about this? Gird your loins, the train is racing towards a wall. God Bless America. Amen.