At the rate we’re going…

December 7, 2012

Where the unemployment rate keeps dropping, even as we add fewer jobs than people, we’ll eventually end up with a 0 percent “unemployment rate”, while the workforce plummets by half.

Everyone who isn’t working will still make a nice living on Social Security Disability, with money that the Fed will simply print.

And Democrats will tax and tax, and spend and spend, and elect and elect.

Click Comments and discuss.

18 Responses to At the rate we’re going…

  1. Jim,MtnViewCA,USA on December 7, 2012 at 9:26 am

    Mish is a pro-RonPaul econ blogger. His political posts will give you heartburn, but there is value in his econ articles, imo.
    Here are some bullet points from his analysis.
    …beneath the surface, this report looks grim.
    The household survey shows a loss of 122,000 jobs.
    The unemployment rate dropped by .2% because the labor force fell by 350,000 and those “not in the labor force” rose by a whopping 542,000.
    Thus, we are back to the previous 2012 pattern of witnessing unemployment rate drop largely because of a massive increase of those “not” in the labor force.

    November BLS Jobs Report at a Glance
    Payrolls +146,000 – Establishment Survey
    US Employment -122,000 – Household Survey
    Involuntary Part-Time Work -168,000 – Household Survey
    Baseline Unemployment Rate -.02 at 7.7% – Household Survey
    U-6 unemployment -.02 to 14.4% – Household Survey
    The Civilian Labor Force -350,000 – Household Survey
    Not in Labor Force +542,000 – Household Survey
    Participation Rate -.2 to 63.6 – Household Survey

    In the last year, the civilian noninstitutional population rose by 3,733,000. Yet the labor force only rose by 1,354,000.
    Those “not” in the labor force rose by 2,380,000 to 88,883,000.

    The massive rise of those “not” in the labor force is primarily economic weakness, not demographics. Actually, older workers are returning to the work force because they cannot afford retirement. One look at the average age of Walmart greeters and those working in fast food restaurants tells a story itself.

    • Stupid Paultard Idiots on December 7, 2012 at 9:33 am

      Of course even more people dropped out of the labor force.

      We don’t need some idiot paultard to tell us that.

      The paultards elected 0bama so every bit of bad news that happens in 0bammer’s 2nd term is fully on their head. Whenever you hear some paultard bitching about the economy, just remember that it was the same idiot paultards who elected 0bama. Now, nobody give a fuck what they think. Assholes.

      • Rubio's RINO on December 8, 2012 at 8:24 am

        —————– “SOUR GRAPES”

        And a twisted version of truth. Your obsession with Ron Paul supporters is making you go on infantile, twisted rants. From what I recall, Jim said he backed Romney. BTW — most Paul supporters I know either voted 3rd party, wrote him in, or stayed home. A minority voted for Romney or Obama. So your assertion that they elected Obama makes you look like a fool. And so does your childish rants.

        • Stupid Paultard Idiots on December 8, 2012 at 3:35 pm

          Hey dumbass, I know at least a dozen paulbots. And talk about “sour grapes”

          They were so angry that their cult crackpot leader didn’t make the cut that 100% (that’s right — 100%) of them voted for 0bama. They all said that if they can’t get their boy Ron Paul in, then their political interests are best served by 0bama, which is exactly what we’ve come to know about you liberalturdian paulbots. You’re all liberal progressives at heartl; this fact is not in dispute and we know that you are decidedly NOT conservatives.

          Again, 100% of the paulbots I know voted for 0bama so don’t pretend otherwise, you blind and idiotic little fool.

  2. Dismantle ObamaCare on December 7, 2012 at 9:43 am

    The DI is cast for a while. I sort of agree with Rand Paul – let Obama own this. The GOP should play an oversight role (ie – investigate) and back away from the economy. In all honesty, Romney sent a few mixed messages on student loans that indicated he would have been Bush-like on spending anyway. At this point, we have to go full throttle to the left for people to understand what’s at stake.

    Republicans should get out of the way and lets Democrats fight over it. I seriously doubt Kay Hagan, Mary Landrieu, Max Baucus, Tim Johnson, Mark Beigh and Mark Warner will support giving King O the power to remove the debt ceiling. If not, my guess is their will be consequences. Gang, this is not our fight right now. We lost – let the Dems and the buffoons who elected them hash this one out.

    • High Quality H2O on December 8, 2012 at 4:10 am

      We lost? Uhm, the last time I checked, the American people still chose (voted) to have Republicans control the House, which means they chose for Republicans to control the nation’s purse strings. In other words, “we won” the election debate on controlling the spending and we have a majority and a mandate in the House of Representatives to do just that. If the dems won control of the House, then you’d have a point but they didn’t so your point overlooks the facts about what portions of the debate we’ve actually won. It sure would be good if more Republicans would stand up and realize that we DID win this part of the debate, and stop being so eager to surrender their freedoms and their property to the marxist left. Once you give a mouse a piece of cheese……

  3. BIll on December 7, 2012 at 11:08 am

    It is time to make the people responsibsisle pay the price!!Obama is a socialist who wants to redistribute the wealth in this country. But, 8 out of 10 of the wealthiest counties in this country voted for him. In Beverly Hills and Manhattan not a single precinct vote for Romney. In these incredibly wealthy elite cities that have so much power all or almost all of the wealthy neighborhoods are Democrat and voted for Obama. Their media elected him and dragged him over the finish line. Their spoiled trust fund liberal brats have been allowed to take over the family foundations and elect the one. I say it is time to tax them! They are asking for it so give it to them! If our Republican elite doesn’t stop talking about buying baseball teams and start buying newspapers and TV networks then they need to pay for it to. Bleed them all I am starting to say! All of them!I Don’t think the rest of us even have any input so why shouldn’t they have their taxes raised to the limit? 90% raise the rates to that level. No loopholes. If they every want to see daylight then let them change the media and give us conservative alternatives. Let them put as much money into GOP coffers ad they put into the Dem’s. Let them stop donating to universities who indoctrinate their kids and give us a text book industry that does not preach marxism. If they want Marxism or are not going to do anything to stop it then by god let them pay for it! No more tax cuts for the rich, no more loop holes make them pay for it! Let them save themselves and deal wit us instead of Harry Reid and company. If they want socialism then they pay for, it that is the way socialism works. Let them see socialism for what it is.

    • High Quality H2O on December 8, 2012 at 3:48 am

      That argument is full of holes and is incredibly short sighted. You should research what happened to the economies of other countries who tried to sacrifice their job-creators on the alter of marxism. Hint, they all went bankrupt and never recovered. Also, are you so naive as to think that you can forfeit other people’s right to their own property without it boomeranging back, where the state seizes your property as well? The argument will be made then also, that it’s “for the common good”, when the state steals your property too. Try to think more than 5 minutes in advance next time, before you post such short sighted nonsense, which completely ignores al of the important lessons of history. You should also research some pesky little things like “freedom” and “liberty”, and what happens to them when they’re carelessly discarded by morons such as yourself.

      • ip727 on December 8, 2012 at 6:25 am

        This needs to happen to wake up the sheep. They will eee what happens when we follow the “soak the rich” mantra. Give them a good dose of the socialism they voted for.

        • Stupid Paultard Idiots on December 8, 2012 at 3:39 pm

          The “sheep” won’t wake up.

          The blind sheep will keep voting for Ron Paul until the USA is reduced to yet another TURD world country.

          Fucking paulbots destroyed the entire nation. Anyone who says otherwise is ignorant.

      • Tim on December 10, 2012 at 1:41 pm

        Perhaps you don’t go as far as Bill suggests. But you do begin to make the wealthy put there money where their mouth is. For example, put some tax on what is now tax free interest. Does not have to be alot (say 3 to 6 percent). My guess is that those ‘wealthy’ people who want the Clinton era tax rates reinstated will sing a differant tune if a specific tax increase is actually aimed at the source of their income. Limit the deduction for state and local taxes. Presumably if you live in New York and are happy with the services your state and local taxes buy–there is no reason to make the rest of us–who do not receive those benefits–essentially pay for them through your deductions. Another idea–and this would imapct those wealthy counties I bet–give Obama what he campaigned on: increases on the millionaires and billionaires–nobody else.

        • High Quality H2O on December 10, 2012 at 5:44 pm

          Take a look at what is happening in Spain.

          Like you and Bill suggest, they gave up and decided to “eat the rich” to either (a.) pay for their socialist follies, or (b.) to “teach them a lesson”.

          Well guess what? Neither (a.) nor (b.) happened.

          But what DID happen was that their job creators (aka “the rich”) moved away from the country and move ALL (yes, ALL) of their assets out of the country. Now, Spain will go the way of Greece (probably even worse) and they’ll never recover from the silly notion that you can tax your way out of debt (or YOUR silly notion that you can “teach the rich a lesson” by over-taxation).

          It’s never worked in the past. It’s never worked in other countries, so it’s a fool’s errand to think you can either “eat the rich” or “teach the rich” by over-taxation. The rich are rich because they’re smart and they absolutely WILL NOT allow themselves to be taxed at ridiculous rates. They’ll move and they’ll re-pariate their Millions / Billions to other countries and the USA will never recover from such a mass exodous.

          At what point do you so called “conservatives” actually stand up for what you’re supposed to believe in and actually be “conservative” in all of your ideology??

          Wow, I’ve never seen a bigger group of cheese eating “surrender monkeys” before.

          Grow a spine you thumbsucking bed wetters and either stand up for conservative principles or go over to Obama’s dark side with the rest of the willfully ignorant chumps.

  4. Obama's Speech Coach on December 7, 2012 at 6:14 pm

    Don’t worry. Be happy. Peace is war. Obama is thrifty. The moon is made of Stilton.

  5. Earl on December 8, 2012 at 6:19 am

    I’ve become increasing convinced that we will have to go through catastrophic economic meltdown before sanity prevails. The entitlement society and the sheer number of takers vs. makers will make it impossible to alter our economic course, no less win elections to gain the power to do so. We are just too far gone. The Marxists also know this but value power over sound economic policy so once the tipping point has been reached (which it has) there is no recovery short of collapse. Its kind of like an alchoholic having to hit bottom before he sobers up. With this in mind, I doubt there is much conservatives can do, but delay the inevitable. Maybe we should just get out of the way,let it happen and then try to build something from the ashes.

    • Stupid Paultard Idiots on December 8, 2012 at 3:44 pm

      we will have to go through catastrophic economic meltdown before sanity prevails

      Problem is, even after your “catastrophic economic meltdown” occurs, the paulbot fools will still vote for the liberal progressive marxists so don’t delude yourself to think that those fools will ever do anything except vote for the most extreme leftist platform there is. The paulbot fools will NEVER (repeat, NEVER) vote for the Conservative choice. It’s not in their liberal progressive nature to do so.

      America is fucked, and you can thank the paulbot fools for taking us over the cliff.

      • Setnaffa on December 9, 2012 at 11:18 am

        The Paul voters didn’t elect the Republicans who kissed Ted Kennedy’s ring and polished Barney Frank’s, er, um, ah, other ring… They may have screwy ideas; but the country was hoist by its own petard long before 2008.

        The Paulbots didn’t elect Larry Craig, Lincoln Chafee, and Arlen Specter when we needed fiscal responsibility more than GOP Establishment pervs…

        We all share in this. We all accepted the removal of prayer from schools. We all accepted removing George Washington and replacing him with Marilyn Monroe in our schools. We accepted a lot of immoral anti-American stuff rather than be jailed for defending our country. Shame on us.

        And now we have 4 more years of Mr. Barry “Mom-jeans” Obama and all of his hopey-changey rhetoric standing in the gap to defend us from the folks who create jobs while terrorism, communism, and misery increase around the world. And over 22 Million of our family, friends, and neighbors have no job nor hope of one this Christmas.

        Every School Board election we skipped got us here and every time we took a moral shortcut. We earned what we’re about to receive and nothing short of America falling on our knees and repenting to God will get us clear of it. And it may already be too late for that.

        But you can avoid eternal hellfire if you let Jesus rule your remaining days.

        • Speak for Yourself on December 10, 2012 at 8:02 am

          “We all share in this. We all accepted the removal of prayer from schools. We all accepted removing George Washington and replacing him with Marilyn Monroe in our schools. We accepted a lot of immoral anti-American stuff rather than be jailed for defending our country. Shame on us.”

          Speak for yourself.

          Some of us have strongly fought against the decline of morality in America; some of us have fought tooth and nail every step of the way (for decades and decades), but it’s never been an easy fight when people who claim to be ‘conservative’ have betrayed us and joined up instead with the liberal progressive left to fight against conservative principles like morality and the Judeo/Christian ethics that out nation’s laws are, in fact, based upon. Those who claim to be ‘conservative’, but then fight against actual conservative values are the ones who’ve helped to speed up the pace at which our nation has declined. Some of us have fought the good fight so speak for yourself when you’re so eager to deal out blame.

  6. Setnaffa on December 8, 2012 at 6:47 am

    Earl, I tend to agree with you; but there is hope.

    Matthew 6:24-34 (NIV)

    “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.

    “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Can any one of you by worrying add a single hour to your life?

    “And why do you worry about clothes? See how the flowers of the field grow. They do not labor or spin. Yet I tell you that not even Solomon in all his splendor was dressed like one of these. If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you—you of little faith? So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”