Category Archives: Economy

Durable Goods capital expenditures disappoint, Revised downward, September 25, 2013 Census report, Bernanke and Fed correct on bad economy

Durable Goods capital expenditures disappoint, Revised downward, September 25, 2013 Census report, Bernanke and Fed correct on bad economy

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“I don’t think the Fed can get interest rates up very much, because the
economy is weak, inflation rates are low. If we were to tighten policy, the
economy would tank.”…Ben Bernanke, July 17, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

From Zero Hedge September 25, 2013.

“Core Durable Goods, CapEx Both Miss; Revised Downward”

“Moments ago we got the latest confirmation the much delayed capital expenditures corporate spending spree – aside for airplanes ordered on spec of course – just refuses to arrive.

While the headline durable goods print rose by a modest 0.1% in August, and beat expectations of a -0.2% decline, this was offset by a prior month revision lower from -7.3% to -8.1%, in effect netting even worse for the current month, and likely resulting in even more declines in Q3 GDP tracking estimates. More importantly, when stripping away airplane orders (on spec, and which are just a function of the credit environment), durable goods declines -0.1% on expectations of a 1.0% increase, which also was the third consecutive miss in this series in a row. Finally, the two most important metric tracking pure CapEx: capital goods orders and shipments non-defense excluding aircraft, both missed expectations, rising at 1.5% vs 2.0%, and 1.3% vs Exp. 1.5%, respectively. It looks like the Fed (and all those other skeptics who called “bull” on the latest talk of a recovery) was well aware of just how bad things in the economy are, and becoming, when it decided not to taper after all.”

Read more:

http://www.zerohedge.com/news/2013-09-25/core-durable-goods-capex-both-miss-revised-downward

US and NC economy and jobs much worse than reported, Bernanke exposed the fragility of the US economy, Media under reports, Financial markets ignore, It is about people and families

US and NC economy and jobs much worse than reported, Bernanke exposed the fragility of the US economy, Media under reports, Financial markets ignore, It is about people and families

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“The Labor Force Participation Rate in NC has dropped 1.6 percent in 2013.”…Citizen Wells

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

 

 

I have tried to report the reality of the economy and jobs situation in the US and my home state of NC.

Even though I write about and comment about politicians, I am pretty much apolitical.

After all, what happens in this country is about people, their families and their lives.

I was touched recently by this ad in Craigslist.

“IM LOOKING FOR SOMEONE TO TAKE OVER PAYMENTS ON MY WHITE 2008 KIA SPECTRA. THE PAYMENTS ARE AROUND $225 PER MONTH. IT IS IN GOOD CONDITION WITH AROUND 80,000 MILES ON IT. I RECENTLY LOST MY JOB AND CAN NO LONGER MAKE PAYMENTS. MAKE A REASONABLE OFFER AND IT IS YOURS!”

This is not a statistic.

It is a real person who has lost a job.

I know and I am certain that you know people who have been affected by the job market and economy.

From Citizen Wells September 20, 2013.

The article from Independent Review Journal, in a series of graphs, paints a picture of the true state of the economy and the changes in the past 5 years.

  • There are 12.6 percent more part time jobs and 4.6 percent fewer full time jobs.
  • Even with part time workers being counted the stated unemployment rate is 7.3 percent instead of 5 percent.
  • The labor force participation rate has plummeted 3 percent.
  • The average length of unemployment has risen from 17.7 weeks to 37 weeks.
  • Median household income has dropped $ 5,000.

Read more:

https://citizenwells.wordpress.com/2013/09/20/us-economy-healthy-obama-democrat-economic-policies-helped-12-6-more-part-time-jobs-high-unemployment-labor-force-plummeted-average-length-of-unemployment-more-than-double-median-household-in/

I would like to thank Zero Hedge for this article.

“What Bernanke Did”

“What Ben Bernanke did by not Tapering was expose the fragility of the US economy for all to see. His actions, Mises Institute’s Peter Klein explains in this brief clip, based on the premise that the US economy was not capable of sustaining any reduction in the $85 billion per month stimulus free-money, means once again “the economy is so dependent on artificial stimulation from the central bank… that the economy is in another artificial boom just like the artificial boom we have been trying to get out of.” Critically, for all those proclaiming the US as a “cleanest shirt,” Bernanke proved them wrong (and exposed the fallacy of data such as the unemployment rate and jobless claims as having any value – as we have explained).”

Read more:

http://www.zerohedge.com/news/2013-09-21/what-bernanke-did

 

 

NC unemployment rate August 2013 drops due to .2 percent labor force participation rate, Labor force dropouts, 1.6 percent drop in labor force in 2013 not new jobs

NC unemployment rate August 2013 drops due to .2 percent labor force participation rate, Labor force dropouts, 1.6 percent drop in labor force in 2013 not new jobs

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“In the Triad, a number of studies have ranked the area among the nation’s worst in terms of poverty and food hardship.”

““You have the people that were barely making it with 40 hours. Now, they’re below 30 hours and have the same household bills,” Sturdivant said. “And at the end of the day, if they go out and get another part-time job, they still won’t have insurance.””...Greensboro News Record September 2, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The stated unemployment rate for NC in August is 8.7 percent.

Good news?

No!

The labor force particpation rate dropped .2 percent last month!

It has dropped 1.6 percent in 2013!!!

This is huge news.

The Greensboro News Record could only state this.

“The trend of falling unemployment rates across the country has come, in large part, due to the number of people who stopped looking for a job. The government does not count those people as unemployed.”

http://www.news-record.com/business/article_090bb4be-220d-11e3-8a99-001a4bcf6878.html

 

US economy healthy?, Obama Democrat economic policies helped?, 12.6 % more part time jobs, High unemployment, Labor force plummeted, Average length of unemployment more than double, Median household income dropped

US economy healthy?, Obama Democrat economic policies helped?, 12.6 % more part time jobs, High unemployment, Labor force plummeted, Average length of unemployment more than double, Median household income dropped

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar. Federal debt held by the public is now about 73 percent of the economy’s annual output, or gross domestic product (GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, and it is twice the percentage at the end of 2007. “…CBO September 17, 2013

 

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

Anyone who believes that the US
economy is healthy and has improved under Obama and the Democrats is some combination of the following:

Illiterate
Crazy
Sleeping under a rock.
Gullible
Liberal Democrat.

Ok I know, the last one was redundant.
This has always been and will always be a group effort.

Real citizen journalism.

Commenter bob strauss provided a link to an excellent article about the true state of the economy.

The article from Independent Review Journal, in a series of graphs, paints a picture of the true state of the economy and the changes in the past 5 years.

  • There are 12.6 percent more part time jobs and 4.6 percent fewer full time jobs.
  • Even with part time workers being counted the stated unemployment rate is 7.3 percent instead of 5 percent.
  • The labor force participation rate has plummeted 3 percent.
  • The average length of unemployment has risen from 17.7 weeks to 37 weeks.
  • Median household income has dropped $ 5,000.

Oct2013Slide-1-Full-Time-vs-Part-Time

Oct2013Slide-8-Housing

Oct2013Slide-10-Debt

Read more:

http://www.ijreview.com/2013/09/80348-16-stats-put-claim-economy-healthy-shame/

Bernanke Fed GDP projections, US Labor Dept. BLS employment data, Obama speeches, 1984 Orwellian rhetoric, We control life Winston at all its levels, Men are infinitely malleable

Bernanke Fed GDP projections, US Labor Dept. BLS employment data, Obama speeches, 1984 Orwellian rhetoric, We control life Winston at all its levels, Men are infinitely malleable

“We need an educated citizenry that values hard evidence.”…Barack Obama

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday, he reflected, it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. Parsons swallowed it easily, with the stupidity of an animal.”

“We control life, Winston, at all its levels.  You are imagining that there is something called human nature which will be outraged by what we do and will turn against us.  But we create human nature.  Men are infinitely malleable.  Or perhaps you have returned to your old idea that the proletarians or the slaves will arise and overthrow us.  Put it out of your mind.  They are helpless, like the animals.  Humanity is the Party.  The others are outside – irrelevant.”…George Orwell, “1984”

Obama, in speech after speech, continues to tell us of improvements in the economy and jobs market.

Promises of improved and less expensive health care.

Pure Orwellian.

“1984” manifested in the US.

From Zero Hedge September 19, 2013.

“Guess What The Fed’s Original 2013 GDP Forecast Was”

For some reason, today pundits are appalled by the loss of Fed credibility only because Bernanke “surprisingly” U-turned on the taper announcement, catching virtually everyone offguard. Perhaps instead of that, the sophisticated financial community should focus on the core of the problem: the Fed’s chronic inability to look even more than a couple of years into the future without being dead wrong about what transpires, even in the absence of a great financial crisis (which the Fed never could predict in the first place of course). Case in point, yesterday’s most recently downward 2013 GDP projection. The chart below tracks how the latest and greatest prediction of the 2.15% 2013 GDP (2.0%-2.3%) moved over the past two years.

“In other words, the Fed started at 4.2%… and ended with half that numberOh, and that includes the recent GDP-boosting revision, without which GDP growth for the year would have been even lower.”

Read more:

http://www.zerohedge.com/news/2013-09-19/guess-what-feds-original-2013-gdp-forecast-was

The US Labor Dept. continues to present unrealistic employment data as it did yesterday.

From Zero Hedge September 19, 2013.

“Initial Claims Data Worthless For Second Week Due To Ongoing “Computer Upgrade” Glitches”

“Economic data may be completely meaningless now that the Fed is openly blowing a bubble without any qualms, but even the Fed at least pretends its policy is guided by said economic data. Which is a problem because for the second week in a row, Initial Claims data is absolute garbage, following an admission by the BLS that “two states” are still working through the claims backlog caused by the “computer-system changeover.” Recall that last week’s “computer upgrade” was the reason why claims plunged from 323K to 292K (on expectations of 330K). And yes, they actually put that “excuse” on paper:”

Read more:

http://www.zerohedge.com/news/2013-09-19/initial-claims-data-worthless-second-week-due-ongoing-computer-upgrade-glitches

Former BLS chief Keith Hall recently stated:

“This has been a very slow, very bad recovery,”

“And I think the numbers have really struggled as a result. In fact, I’ve been very disappointed in the coverage of the numbers.”

Hall was replaced by Erica L. Groshen.

From the BLS site.

“I have a very non-political, non-partisan background,” Groshen said. “That’s the kind of work I’ve always done at the Fed and when I was briefly an academic. The BLS is just a continuation of that sort of career because that’s who I am. That’s what I do.”

“The BLS prides itself on being non-political and that makes it a good fit for me.”

Groshen sent her children to a leftist leaning camp, Camp Kinderland.

http://netrightdaily.com/2012/07/who-is-erica-groshen/

“The lady doth protest too much, methinks.”…William Shakespeare, “Hamlet”

CBO report 2013 Long Term Budget Outlook, September 17, 2013, Debt trend unsustainable, Between 2009 and 2012 largest budget deficits since 1946, Federal debt 73 percent of GDP higher than any point in US history except World War II

CBO report 2013 Long Term Budget Outlook, September 17, 2013, Debt trend unsustainable, Between 2009 and 2012 largest budget deficits since 1946, Federal debt 73 percent of GDP higher than any point in US history except World War II

“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

From the CBO September 17, 2013.

“The 2013 Long-Term Budget Outlook”

“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar. Federal debt held by the public is now about 73 percent of the economy’s annual output, or gross domestic product (GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, and it is twice the percentage at the end of 2007. If current laws generally remained in place, federal debt held by the public would decline slightly relative to GDP over the next several years, CBO projects. After that, however, growing deficits would ultimately push debt back above its current high level. CBO projects that federal debt held by the public would reach 100 percent of GDP in 2038, 25 years from now, even without accounting for the harmful effects that growing debt would have on the economy (see the figure below). Moreover, debt would be on an upward path relative to the size of the economy, a trend that could not be sustained indefinitely.

Federal Debt Held by the Public Under CBO's Extended Baseline

Budget Projections For The Next 10 Years

The economy’s gradual recovery from the 2007–2009 recession, the waning budgetary effects of policies enacted in response to the weak economy, and other changes to tax and spending policies have caused the deficit to shrink this year to its smallest size since 2008: roughly 4 percent of GDP, compared with a peak of almost 10 percent in 2009. If current laws governing taxes and spending were generally unchanged—an assumption that underlies CBO’s 10-year baseline budget projections—the deficit would continue to drop over the next few years, falling to 2 percent of GDP by 2015. As a result, by 2018, federal debt held by the public would decline to 68 percent of GDP.

However, budget deficits would gradually rise again under current law, CBO projects, mainly because of increasing interest costs and growing spending for Social Security and the government’s major health care programs (Medicare, Medicaid, the Children’s Health Insurance Program, and subsidies to be provided through health insurance exchanges). CBO expects interest rates to rebound in coming years from their current unusually low levels, sharply raising the government’s cost of borrowing. In addition, the pressures of an aging population, rising health care costs, and an expansion of federal subsidies for health insurance would cause spending for some of the largest federal programs to increase relative to GDP. By 2023, CBO projects, the budget deficit would grow to almost 3½ percent of GDP under current law, and federal debt held by the public would equal 71 percent of GDP and would be on an upward trajectory.”

“Looking beyond the 10-year period covered by its regular baseline projections, CBO produced an extended baseline for this report that extrapolates those projections through 2038 (and, with even greater uncertainty, through later decades). Under the extended baseline, budget deficits would rise steadily and, by 2038, would push federal debt held by the public close to the percentage of GDP seen just after World War II—even without factoring in the harm that growing debt would cause to the economy.

By 2038, CBO projects, federal spending would increase to 26 percent of GDP under the assumptions of the extended baseline, compared with 22 percent in 2012 and an average of 20½ percent over the past 40 years. That increase reflects the following projected paths for various types of federal spending if current laws generally remain in place (see the figure below):

  • Federal spending for the major health care programs and Social Security would increase to a total of 14 percent of GDP by 2038, twice the 7 percent average of the past 40 years.
  • In contrast, total spending on everything other than the major health care programs, Social Security, and net interest payments would decline to 7 percent of GDP, well below the 11 percent average of the past 40 years and a smaller share of the economy than at any time since the late 1930s.
  • The federal government’s net interest payments would grow to 5 percent of GDP, compared with an average of 2 percent over the past 40 years, mainly because federal debt would be much larger.”

Read more:

http://www.cbo.gov/publication/44521

Entire report:

http://www.cbo.gov/sites/default/files/cbofiles/attachments/44521-LTBO_0.pdf

HHS 2012 report on Obamacare savings, Market Watch Orwellian spin Obamacare saved consumers $1.2 billion in 2012 premiums, HHS Obama Ministry of Obamacare Truth

HHS 2012 report on Obamacare savings, Market Watch Orwellian spin Obamacare saved consumers $1.2 billion in 2012 premiums, HHS Obama Ministry of Obamacare Truth

 
“If you’ve got health insurance we’re going to work with you to lower your premiums by $2,500 per family per year.”…Barack Obama

 
“In the individual market, the average rate request increase dropped by 12 percent (from 8.1 percent to 7.1 percent) after rate review, saving consumers an estimated $311 million.”…HHS Rate Review Annual Report September 2013

“He was alone. The past was dead, the future was unimaginable. What certainty had he that a single human creature now living was on his side? And what way of knowing that the dominion of the Party would not endure for ever? Like an answer, the three slogans on the white face of the Ministry of Truth came back to him:

WAR IS PEACE

FREEDOM IS SLAVERY

IGNORANCE IS STRENGTH”…George Orwell, “1984”

Obamacare has been nothing but bad news for Obama and Americans. That is why many of us believe that he wants attention focused on Syria.

Report after report from credible sources such as major corporations as well as state and local governments tells of rising health care costs, layoffs, increased part time hours and delayed hiring plans.

Here are some of the news headlines and facts regarding Obamacare’s impact on Americans and health care costs.

“The Patient Protection and Affordable Care Act (PPACA)[1] imposes numerous tax hikes that transfer more than $500 billion over 10 years—and more in the future—from hardworking American families and businesses to Congress for spending on new entitlements and subsidies. In addition, higher tax rates on working and investing will discourage economic growth both now and in the future, further lowering the standard of living.”…Heritage Foundation

“Rising medical costs, “combined with the costs associated with the Affordable Care Act, have made it increasingly difficult to continue providing the same level of health care benefits to our employees at an affordable cost,” UPS said in a memo to employees.”

“While acknowledging that overall health spending continues to rise, the company also blamed cost increases on the Affordable Care Act’s research fee (initially $1 per health plan member, then rising to $2) and an a temporary fee of $63 per member to stabilize new online marketplaces for consumers buying directly from insurers.”…Kaiser Health News August 21, 2013

“However … health insurance rates and benefit coverage plan costs have continued to increase. As a result of those increases, county employees have experienced a pay decrease that has grown larger each year.”…Guilford County Interim Manager Sharisse Fuller

“Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%”…Forbes May 30, 2013

“The State University of New York in Plattsburgh raised their premium from $440 per student to between $1,300 and $1,600;

Lenoir-Rhyne University (Hickory, NC) raised theirs from $245 to $2,507; and
· The University of Puget Sound (Tacoma, WA) raised theirs from $165 to between $1,500 and $2,000” …CNS News August 27, 2012

ObamaInsuranceRatesClimb

Naturally, HHS, AKA Obama’s Ministry of Obamacare Truth and Obama’s minions at Market Watch had to rectify all of these negative news stories and facts.

From Market Watch September 12, 2013.

“Obamacare saved consumers $1.2 billion in 2012 premiums, HHS says”

“With all the Obamacare broadsides being traded back and forth, here’s another salvo the Department of Health and Human Services launched Thursday: the controversial health-care overhaul saved consumers at least $1.2 billion in premiums last year.

The savings came via the “rate review” portion of President Obama’s signature legislative achievement and affected 6.8 million policyholders, or roughly $176 per consumer. Obamacare’s “rate review” calls for no more than a 10% increase in premiums during a fiscal year.

In a 16-page report, HHS says that the average rate went up 7.1% for individual market policyholders in 39 states during 2012, saving them $311 million from the requested 8.1% hikes. For the small-group market last year, rate increases averaged 4.7%, down from the 5.8% requested in 35 states. That resulted in a savings of $866 million.”

http://blogs.marketwatch.com/health-exchange/2013/09/12/obamacare-saved-consumers-1-2-billion-in-2012-premiums-hhs-says/?mod=MW_home_latest_news

The astute commenters at Market Watch saw through the Orwellian spin.

“PATRICK MCMANUS2 minutes ago

Are Americans this dumb? Really? An increase of less than what it theoretically could have been IS NOT SAVING! Your costs still went up, didn’t they? You paid more, didn’t you? So tell me again, HOW MUCH did you SAVE?

1Dennis KoesterLikeReply

Steve Po2 minutes ago

Here come all the critics!!!!!   Excuse after excuse after excuse….

LikeReply

Randy Merrell2 minutes ago

Offset by hundreds of billions in tax increases. WTF?!?!?!!?!?!?!

LikeReply

Jum Multher3 minutes ago

Since the insurance premiums could have gone up 10% and they only went up 7.1% this is a savings?  Talk about government accounting.  Foney.  I saved $100 today by not buying that new golf club.  SAY WHAT!!!!??

2Dennis KoesterW GrooverLikeReply

Dennis Koester5 minutes ago

Bull  Common sense telsl you that when you add requirements to a policy, the money has to come from somewhere. That somewhere is the Premium. This Rodeo Clown has cost our company thousand more per year! We have less than 20 and we provide insurance because we want good people.

Thanks to Sen. Joe Donnelly (IN) who as a congressman blindly voted in Obamacare and now is “surprised” by what was actually in that bill. What a moron!. I told him he needs to have a better Attention Span when they start talking about Syria. But he’s a Democrat, so that attention span will last for these few words “Good morning Senators, free coffee and donuts are in the corner” he will then spend the rest of the day trying to find the corner in a round room!

1Josh GroveLikeReply

Dave Zickefoose8 minutes ago

When you appraise your own performance anything is possible…..yet, it is just rhetorical rhetoric that Obamacare has anything to do with health.

It is all about Leftist centralized control of $5.1 trillion in Gross Domestic Product from the Insurance and Health industries, formerly under the control of the private sector, and control of the citizens.  When Leftist centralized government controls your health it controls you.

Defund it now!

3Yooper DooperW GrooverJum MultherLikeReply

Darin Pope8 minutes ago

With a population of 300 million in the US, $1.2 billion is equal to $4 per American.  And in July, it was announced that the government was going to spend more than half of these “savings”, $684 million, to hire celebrities to promote Obamacare…even bad non-profits don’t spend half of what they raise for marketing!

2W GrooverJosh GroveLikeReply

fritz baier9 minutes ago

im still paying the same amount for coverage , didn’t Obama say the rates would come down ?

1Josh GroveLikeReply

Josh Grove3 minutes ago

@fritz baier I’m paying more for mine!

LikeReply

Lah Onep13 minutes ago

Hey if HHS says so then it must be true.”

HHS Report.

Click to access ratereview_rpt.pdf

Syria Obama economic diversion, September 9, 2013, Food stamp use soars, Labor force participation rate at 35 year low, Long term unemployed worse than 1970’s 80’s recessions

Syria Obama economic diversion, September 9, 2013, Food stamp use soars, Labor force participation rate at 35 year low, Long term unemployed worse than 1970’s 80’s recessions

“I do not believe John Kerry is fit to be commander in chief of the armed forces of the United States. This is not a political issue. It is a matter of his judgement, truthfulness, reliability, loyalty, and trust–all absolute tenets of command.”…REAR ADMIRAL ROY F. HOFFMAN, USN (RETIRED)

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

 

“I don’t oppose all wars,” “What I am opposed to is a dumb war. What I am opposed to is a rash war.”…Obama, antiwar rally downtown Chicago October 2002

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

So why would Obama want us constantly thinking about a possible attack on Syria and chemical threats there?

From Zero Hedge September 8, 2013.

“Households On Foodstamps Rise To New Record High: More Americans Live In Poverty Than The Population Of Spain”

“There was much discussion of Friday’s “disappointing” non-farm payrolls goal-seeked, seasonally adjusted, X-13-ARIMA conceived jobs “number.” The conclusion was that it showed an economy which one year after the start of QEternity was growing nowhere near where the Fed has projected and hoped it would be at this time. But in addition to the BLS jobs number, there was another just as important number that was released on Friday: the monthly foodstamp (SNAP) participation update. There was no discussion of this particular number and for good reason. If the NFP number was at least meant to show some economic stability, if subpar, the monthly foodstamp update shows month after month that the greatest depression is nowhere near ending for millions of American living in poverty (83% of SNAP households have gross income at or below 100% of the poverty guideline ($19,530 for a family of 3 in 2013), and these households receive about 91% of all benefits. 61% of SNAP households have gross income at or below 75% of the poverty guideline or $14,648 for a family of 3 in 2013).

To wit: in June, the number of households receiving foodstamps rose to 23.117 million, an increase of 45.9k in one month, and also a new record high. As for the average monthly benefit per household: $274.55, just off record lows.”

Food StampSept2013

Read more:

http://www.zerohedge.com/news/2013-09-08/households-foodstamps-rise-new-record-high-more-americans-live-poverty-population-sp

Another hard hitting article from the Greensboro News Record September 7, 2013.
“Just how sturdy is the U.S. job market?

That’s the key question the Federal Reserve will face when it decides later this month whether to reduce its economic stimulus.
The answer depends on where you look.

The economy has added jobs for 35 straight months. Unemployment has reached a 4 1/2-year low of 7.3 percent. Layoffs are dwindling.
Yet other barometers of the job market point to chronic weakness:

The pace of hiring remains tepid. Job growth is concentrated in lower-paying industries. The economy is 1.9 million jobs shy of its pre-recession level – and that’s not counting the additional jobs needed to meet population growth. Nearly 4.3 million people have been unemployed at least six months.

What’s more, employers have little incentive to raise pay. Many unhappy employees have nowhere else to go.

Still, when it meets Sept. 17-18, the Fed is expected to reduce its $85 billion a month in bond purchases by perhaps $10 billion. Its purchases have helped keep home-loan and other borrowing rates low to try to encourage consumers and businesses to borrow and spend more.

Here’s a look at the job market’s vital signs as the Fed’s decision nears:

UNEMPLOYMENT

The unemployment rate slid in August to 7.3 percent, its lowest level since December 2008. Unemployment had peaked in October 2009 at 10 percent and has since fallen more or less steadily. Since then, the number of people who say they have jobs has risen by 5.7 million. And the number of those who say they’re unemployed has dropped by nearly 4.1 million.

That’s the good news behind the tumbling unemployment rate.

But the rate has been falling, in part, for a bad reason: People are dropping out of the labor force. Once people without a job stop looking for one, the government no longer counts them as unemployed.

Some are retiring. Some are young adults who have chosen to go to college rather than brave a tough job market. Some have gone on disability. And some have given up the job search, discouraged by repeated rejections.

The percentage of people either working or looking for work – the so-called labor force participation rate – fell last month to a 35-year low: 63.2 percent. If the participation rate were at the pre-recession level of 66 percent, up to 6.8 million more people could be counted as unemployed. And the unemployment rate could be as high as 11.2 percent.

The 4 million-plus Americans who have been unemployed for six months or more are down from a peak of 6.7 million in April 2010. Yet before 2009, the United States had never seen long-term unemployment surpass 2.9 million, even during the deep recessions of the mid-1970s and early 1980s.”

Read more:

http://hosted.ap.org/dynamic/stories/U/US_JOB_MARKET_VITAL_SIGNS?SITE=NCGRE&SECTION=HOME&TEMPLATE=DEFAULT

The above problems are motivation enough for Obama to divert our attention using a Syrian manufactured crisis.

Of course we know that Obama has many more reasons.

Jobs unemployment part time workers recap September 7, 2013, Media reports labor force participation rate, Obama falling from grace?, More people quit work searches

Jobs unemployment part time workers recap September 7, 2013, Media reports labor force participation rate, Obama falling from grace?, More people quit work searches

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

If you have been following Citizen Wells you are aware of the real and scary employment situation in this country.

Record droves of people dropping out of the labor force and part time jobs.

Much to my amazement, early yesterday morning I read the following.

From Market Watch September 6, 2013.

“Unemployment rate falls to 7.3% as more people quit work searches”

“The U.S. added a modest 169,000 new jobs in August, the number of positions created in July was slashed and more workers dropped out of a labor force in a sign that hiring conditions worsened toward the end of the summer.

The unemployment rate, meanwhile, ticked down to 7.3% from 7.4%, but that was because fewer people were searching for work, according to new figures released by the Labor Department Friday.”

“The increase in jobs last month only fell a touch short of Wall Street’s forecast calling for a 173,000 increase. What gave the report a darker tone was the downward revisions in the prior two months and a sharp decline in the number of people looking for a job.

Employment gains for July and June were lowered by a combined 74,000, with the biggest revision taking place in July, the Labor Department said. The number of new jobs created in July was slashed to 104,000 from 162,000 — the smallest gain since June 2012.

And June’s job gains were trimmed to 172,000 from 188,000.

What’s more, the labor force participation rate fell to 63.2%, the lowest level since the summer of 1978. The participation rate measures how many healthy, working-age people 16 and older are looking for jobs.”

http://www.marketwatch.com/story/us-economy-adds-169000-jobs-in-august-2013-09-06?dist=beforebell

Rush Limbaugh noticed and reported this change in reporting tone from the media.

Rush Limbaugh transcript September 6, 2013.

“RUSH: You know, folks, even the Drive-By Media is starting to turn on Obama on the economy. The economic news, the unemployment news, it went down 7.3 from seven-point whatever it was, but the media knows that that’s not because jobs are being created.
A couple of them — I’ve got it here in the Stack — are telling the truth about it.

Reuters: “US Job Growth Misses Expectations, Offers Cautionary Note for Fed.” Now, what they’re doing, the Federal Reserve, if you’ve noticed, the stock market is — let me check. Even as we speak here, let me check the stock market. Well, it’s up right now, but not much. It was down a lot yesterday, trickling down, because the Federal Reserve is talking about no more quantitative easing, which is no more stimulus. And the people in the markets know that the only reason the stock market’s been going through the roof is because the Fed has been buying stock, not people. Short version of the truth. That’s the simplified version here. And if the Fed starts talking about no more of that, panic sets in.”

“If the same number of jobs that existed in 2009 existed today, the unemployment rate would be 10.8%. It’s not 10.8%; it’s 7.3 because those jobs are gone. They don’t exist. They’re not even available to be filled. It’s called the labor force participation rate. You add that people, when they stop looking, they are no longer counted as unemployed. Go figure. They have looked and looked and looked. They’ve been on unemployment 99 weeks or more. They finally have given up. They’re no longer counted.

The unemployment rate that’s reported only includes people actively trying to find a job. Those who have given up, which numbers in the millions now, don’t get counted, so the rate goes down. And so the media is afraid that the people at the Fed will not know what I just told you and that they’ll see the unemployment rate going down and believe they have fixed it and stop priming the pump, stop spending, printing money. Obama and the Democrats and their minions are scared to death of this. And the Democrats know — we’re talking a serious amount of money — the Democrats know that if the Fed stops printing, it’s actual digital transfers, folks, they’re not actually printing hard currency for all of this. They’re just digitizing, just adding money to a computer spreadsheet, essentially.”

Read more:

http://www.rushlimbaugh.com/daily/2013/09/06/drive_bys_turn_on_obama_economy

Do not be fooled by Obama protectors in the media. The part time jobs component is also affecting households and the economy.

From Guggenheim September 5, 2013.

“The Growth Mirage”

“Despite disappointing economic data, there continues to be widespread expectations of a period of stronger economic growth just ahead. This growth mirage draws thirsty investors and increases the likelihood that interest rates will continue rising over the near-term.”

“Part-Time Jobs Driving Employment Growth

Growth in part-time jobs has been the main contributor in overall employment increases since the start of 2013. Over the past seven months, the average monthly growth in full-time jobs has been 32,000, while the average number of new part-time jobs was 104,000. After falling from the recession peak of 20 percent, the share of total jobs which are part-time has recently rebounded to 19.6 percent. The increase in part-time jobs may be partially attributable to the upcoming change in healthcare laws, requiring employers to provide health insurance to full-time employees but not for part-time workers. If the trend continues, the increasing share of part-time workers may add downward pressure to aggregate labor earnings and reduce consumption growth.”

PartTimeJobs

Read more:

http://guggenheimpartners.com/perspectives/macroview/the-growth-mirage

From the US Labor Dept. BLS.

From January of 2009 when Obama took control of the White House to August 2013.

________________________Jan 2009        Aug 2013

Labor Force Participation Rate               65.7                  63.2

Could only find part time work    1,676,000       2,719,000

The labor force participation rate plummeted 2.5 percent under Obama.

1,043,000 more people can only find part time work under Obama.

Obama Syria attack diverts attention from economy Obamacare Obama problems, Rush Limbaugh quotes Yossef Bodansky, What if Bashar didn’t do it?

Obama Syria attack diverts attention from economy Obamacare Obama problems, Rush Limbaugh quotes Yossef Bodansky, What If Bashar Didn’t Do It?

“I do not believe John Kerry is fit to be commander in chief of the armed forces of the United States. This is not a political issue. It is a matter of his judgement, truthfulness, reliability, loyalty, and trust–all absolute tenets of command.”…REAR ADMIRAL ROY F. HOFFMAN, USN (RETIRED)

“Testimony from victims strongly suggests it was the rebels, not the Syrian government, that used Sarin nerve gas during a recent incident in the revolution-wracked nation, a senior U.N. diplomat said Monday.

Carla del Ponte, a member of the U.N. Independent International Commission of Inquiry on Syria, told Swiss TV there were “strong, concrete suspicions but not yet incontrovertible proof,” that rebels seeking to oust Syrian strongman Bashar al-Assad had used the nerve agent.

But she said her panel had not yet seen any evidence of Syrian government forces using chemical weapons, according to the BBC, but she added that more investigation was needed.”…Washington Times, May 6, 2013

 
“You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.”…Abraham Lincoln

I do not trust Obama.

Why should I?

Obama has plenty of reasons to divert attention away from his issues and administration.

Not the least of which is the economy and impact of Obamacare.

You can only fudge the numbers so long.

This alone is reason enough for Obama to push for a Syria attack.

But remember, Obama stated that he would stand with the Muslims.

“I will stand with the Muslims should the political winds shift in an ugly direction.”

I listened to Rush Limbaugh yesterday.

From the Rush Limbaugh transcripts September 3, 2013.

“Bodansky: What If Bashar Didn’t Do It?”

“RUSH: All right. So here’s the deal.  Last week, Obama reverses himself and says that he’s not gonna go into Syria.  Remember, they’re using nerve gas.  John Kerry goes out there, 1,500 people, 2,400 people, a lot of kids, nerve gas, sarin gas, got the proof.  Look, I’m gonna get into all the hypocrisy.  Yes, Kerry dining with Bashar back in 2009 and talking about what a great guy Bashar was. The bottom line is this administration is as incompetent as Jimmy Carter.  There’s only one difference.  If there were anybody else running this administration right now, this would be reported as incompetent and as buffoonish and as frightening at Jimmy Carter’s.

This is Jimmy Carter’s second term here.  This is absolutely frightening what’s happening here.  Obama with this inadvertent, trying to make himself look like a tough guy, red line comment this past summer.  Well, the Syrians crossed the red line, so Obama’s obligated.  And late in the week last week, he said, “You know what?  I’m gonna go get congressional authority,” after maintaining he didn’t need it, maintaining he didn’t want it, maintaining he’s gonna be a tough guy, gonna act alone. He’s gonna save the people of Syria. He’s gonna make sure this Bashar guy gets what’s coming to him.

Then all of a sudden he switches gears we’re told after a walk Friday night on the White House grounds.  Yes.  He decided he’s gonna use congressional authority. He’s gonna go to Congress.  Now, when this announcement was made — ’cause this had been discussed.  I mean, the idea of congressional authority for use-of-force authorization had been discussed.  There had been test votes taken by virtue of interview.  At the time, there was no way Congress was gonna authorize it.  Didn’t stand a prayer, which Obama knew, which the point was to blame Republicans.  It was the Limbaugh Theorem in play.  Obama forget about it essentially.  The plan was change direction, reverse field, announce that he’s gonna go to Congress to get a use-of-force authorization, and then when the Republicans don’t give it to him, blame them for dead Syrians. ”

“You have here, ostensibly, Bashar al-Assad nerve gassing his own people.  Sarin gas.  Lurch told us. John Kerry.  He told us this Friday.  Obama’s got the red line drawn out there.  They crossed the red line.  Obama’s manhood is on the line.  Oh, my God, he’s a gotta huff and puff! He’s been huffing and puffing.  All of a sudden, “You know what?  To hell with it!  I’m gonna wait awhile.  I’m gonna wait on Congress.”

Wait a minute. People are dying, I thought.  He’s nerve gassing people!  He’s nerve gassing his own people, chemical weapons, weapons of mass destruction, and we’re gonna wait for Congress to get back?  We gotta wait a few days, rather than strike now? ‘Cause all we’re gonna do is we’re gonna have a, what, three-minute to five-hour strike, whatever it takes to show that…”

“What if Bashar didn’t do it?

Sit tight, ’cause I’ve got a story by a man whose credibility is intact and beyond repute.  His name is Yossef Bodansky. He “is an Israeli-American political scientist who served as Director of the Congressional Task Force on Terrorism and Unconventional Warfare of the US House of Representatives from 1988 to 2004. He is also Director of Research of the International Strategic Studies Association and has been a visiting scholar at Johns Hopkins University’s Paul H. Nitze School of Advanced International Studies (SAIS).”

“”There is a growing volume of new evidence from numerous sources in the Middle East — mostly affiliated with the Syrian opposition and its sponsors and supporters — which makes a very strong case, based on solid circumstantial evidence, that the August 21, 2013, chemical strike in the Damascus suburbs was indeed a pre-meditated provocation by the Syrian opposition. The extent of US foreknowledge of this provocation needs further investigation because available data puts the ‘horror’ of the Barack Obama White House in a different and disturbing light.”

This guy is not a kook, folks.  He’s not a nut.  He’s not an Internet Looney Toon, the guy writing this, Yossef Bodansky.  In fact, in reading further about this guy, Yossef Bodansky argued that the deception playing out right now in Syria is a deception similar to one used in Sarajevo in 1995 to provoke air strikes against the Serbs for the benefit of the Bosnian Muslims. ”

You must read more:!!!

http://www.rushlimbaugh.com/daily/2013/09/03/bodansky_what_if_bashar_didn_t_do_it

We didn’t attack Saddam Hussein when the following occurred.

“As early as April 1987, the Iraqis used chemical weapons to remove Kurds from their villages in northern Iraq during the Anfal campaign. It is estimated that chemical weapons were used on approximately 40 Kurdish villages, with the largest of these attacks occurring on March 16, 1988 against the Kurdish town of Halabja.

Beginning in the morning on March 16, 1988 and continuing all night, the Iraqis rained down volley after volley of bombs filled with a deadly mixture of mustard gas and nerve agents on Halabja. Immediate effects of the chemicals included blindness, vomiting, blisters, convulsions, and asphyxiation. Approximately 5,000 women, men, and children died within days of the attacks. Long-term effects included permanent blindness, cancer, and birth defects. An estimated 10,000 lived, but live daily with the disfigurement and sicknesses from the chemical weapons.

Saddam Hussein’s cousin, Ali Hassan al-Majid was directly in charge of the chemical attacks against the Kurds, earning him the epithet, “Chemical Ali.””

http://history1900s.about.com/od/saddamhussein/a/husseincrimes.htm

You have been informed at Citizen Wells about the real unemployment situation and economy.

Here is another example.

From Zero Hedge September 3, 2013.

“Unemployment At One Year High, Gallup Finds”

“Since lately it seems that the BLS’ sole mandate is to smooth and otherwise seasonally adjust noisy, incomplete employment data, even as the one part of employment that should not be rising – part-time jobs – continues to creep ever higher both seasonally adjusted and otherwise, it has become virtually impossible to get an accurate, unadjusted perspective of how the US labor force is truly doing. And with this Friday’s non-farm payroll report “the most important ever”, as every other month of course, this time because it will seal the fate of the taper (or won’t) depending if the data is bad enough, everyone is eager to get a sense of what is going on behind the scenes and how to position for Friday.”

“Which means that while the Gallup data is largely useless from a policy, or trading perspective, it is very useful in one key fashion: it shows that the US economy continues to deteriorate, and that increasingly more people have no jobs when stripping out the BLS’ favorite labor force participation adjustment gimmick.”

Read more:

http://www.zerohedge.com/news/2013-09-03/unemployment-one-year-high-gallup-finds

If you still don’t believe that Obama has motivation to divert attention away from the economy, Obamacare and his other issues, you had better wake up and start making plans to survive the real crisis that could develop.