Job report August: ZERO JOBS created

[CuteOldGuy]

TXSwing gets it? "Reduce health care costs" Brilliant! Ok, how? Then he goes on and says "spend, spend, spend" and shortly thereafter he cries "reduce spending where possible" Well, we can all agree on that can't we?

It's this type of thinking that has gotten us here. Geez, you people are sheep.

[CuteOldGuy]

Oh, and explain how black unemployment was better under President Bush?

http://money.cnn.com/2011/09/02/news...ployment_rate/

[Munchmasterman]

Originally Posted by CPT Savajo

Your right, every bubble will burst in due time. So you think the bubble will burst within the year in precious metals? How so, please explain yourself? If, and thats a BIG "IF" the precious metals market does collapse which sector do you think will be in bull market mode within the next year?

I'll tell you a bubble that should burst and is getting horrific as time goes on, it's the student loan debt! I'm sure there's enough hot air in that balloon that would rival the mortgage meltdown. The only thing that is propping up the cracked education system in this country is the fact that people aren't allowed to get that debt erased in a bankruptcy. Thats been a bubble in the making for a LONG time. It really doesn't make sense for many of these kids going to college for 4-8 years in an inflationary environment where universities are increasing tuition rates year in and year out. What jobs are they going to get carrying an average debt load of $25000-$100,000 with interest, better yet where are the jobs going to come from? The whole ideology of it takes a college degree to make it in this world is a huge crock of shit and the system pumps it in every kids head from day one. Many parents are even guilty of this.

Women definitely have the upperhand when it comes to paying off those debts. Some may call it a survival tactic in tough times. Either way a person has to do the necessary things inorder to make ends meet. When people get desperate they will go to extreme measures to ensure survival. http://www.huffingtonpost.com/2011/0..._n_913373.html

Explain your location?

So are you saying something like if each woman in the US performed an act of selfless patriotism and took one for the US team that we could be back on top of the economic pile in a very short time? A crowd on the sidelines chanting “Do four or more!” as our women once again save our asses.

Amen, brother.

[CPT Savajo]

Originally Posted by CuteOldGuy

Oh, and explain how black unemployment was better under President Bush?

http://money.cnn.com/2011/09/02/news...ployment_rate/

If you look at that chart it reflects the BOOM that Black Americans experienced in employment from the years 2003 to mid 2007ish. During those years the country was growing nicely and the market was recovering from the Dot Com Bubble. From 2008 to present day, well we all know whats been going on, people have been getting laid off and the economy has contracted greatly with inflation.

[waverunner234]

Originally Posted by CPT Savajo

Your right, every bubble will burst in due time. So you think the bubble will burst within the year in precious metals? How so, please explain yourself? If, and thats a BIG "IF" the precious metals market does collapse which sector do you think will be in bull market mode within the next year?

I'll tell you a bubble that should burst and is getting horrific as time goes on, it's the student loan debt! I'm sure there's enough hot air in that balloon that would rival the mortgage meltdown. The only thing that is propping up the cracked education system in this country is the fact that people aren't allowed to get that debt erased in a bankruptcy. Thats been a bubble in the making for a LONG time. It really doesn't make sense for many of these kids going to college for 4-8 years in an inflationary environment where universities are increasing tuition rates year in and year out. What jobs are they going to get carrying an average debt load of $25000-$100,000 with interest, better yet where are the jobs going to come from? The whole ideology of it takes a college degree to make it in this world is a huge crock of shit and the system pumps it in every kids head from day one. Many parents are even guilty of this.

Women definitely have the upperhand when it comes to paying off those debts. Some may call it a survival tactic in tough times. Either way a person has to do the necessary things inorder to make ends meet. When people get desperate they will go to extreme measures to ensure survival. http://www.huffingtonpost.com/2011/0..._n_913373.html

Explain your location?

No one knows when the gold bubble will burst, that makes it all the more risky to invest in it now, and I won't burn my fingers on it. But it will burst and if it happens I'll be selling gold (that I don't have) like crazy. I already signed up with a broker outside US because since July 10th this year you can't do that anymore inside the US. I know how to read charts and what the difference is between a pull back and a trend change.

I agree with you about the college graduates, I already see that jobs where they used to ask for highschool grad, they are now asking for bachelors degrees, like bank tellers. It's crazy, making $10 or $11 per hour as a college grad.
Next thing will probably be that McDonalds will need college grads to flip burgers.
I wonder when the providers will start asking for clients with at least college degree or higher.

[CPT Savajo]

Originally Posted by Munchmasterman

So are you saying something like if each woman in the US performed an act of selfless patriotism and took one for the US team that we could be back on top of the economic pile in a very short time? A crowd on the sidelines chanting “Do four or more!” as our women once again save our asses.

Amen, brother.

Not at all, you missed the point totally. People will do what they have to do and I don't want to step in and stop them, they are their own boss.

[CPT Savajo]

Originally Posted by waverunner234

No one knows when the gold bubble will burst, that makes it all the more risky to invest in it now, and I won't burn my fingers on it. But it will burst and if it happens I'll be selling gold (that I don't have) like crazy. I already signed up with a broker outside US because since July 10th this year you can't do that anymore inside the US. I know how to read charts and what the difference is between a pull back and a trend change.

I agree with you about the college graduates, I already see that jobs where they used to ask for highschool grad, they are now asking for bachelors degrees, like bank tellers. It's crazy, making $10 or $11 per hour as a college grad.
Next thing will probably be that McDonalds will need college grads to flip burgers.
I wonder when the providers will start asking for clients with at least college degree or higher.

You can't do what inside the U.S. since July 10th? I read an article that the mint suspended numismatic gold coins sales because it seems like someone is trying to stop the public from getting the "real" money. The bubble will burst but like I said, I think gold and silver are going much higher. I think silver has the better potential and in my book the trend hasn't changed yet and wont for awhile.

They already have college grads flipping burgers, not to mention waiting tables, and unemployed. Providers aren't going to ask if someone has a college degree. Hell the colleges are manufacturing pieces of paper (degrees) in worthlessness today. College is a big business, I look at any college like any other corporation out in the land. Financial education means more than a college degree, learing how to be an entrepreneur, and knowing the markets. Most college kids leaving college today barely know how to balance a check book or use a credit card properly or even knows how the interest screws them.

[waverunner234]

Actually it was since July 15th, you can no longer trade precious metals on a leveraged account in US as a result of the Dodd-Frank Act (Wall Street Reform and Consumer Protection Act)
Means you can buy gold only in hard metal, you have to physically own it. No retail gold accounts on margin anymore, which is bullshit and protects nothing.

But you're right, silver has a lot more potential

Oh and about education, the company I worked for is now outsourcing the IT department to India because of course it's cheaper but also the universities there are better than in the US

[Whirlaway]

The rules regarding this issue (Commonly refereed to as Section 742A of Dodd Frank) has alot of exceptions, particularly for qualified investors; so your statement that trading is precous metals on leveraged accounts is banned is a bit nieve.....none the less Dodd Frank; like Sarbanes Oxley and Obamacare should be repealed immeidately.....but that will be the work of the next Congress which will be heavily influenced by the Tea Party which will deliver a Conservative Senate and House to the next President.

Originally Posted by waverunner234

Actually it was since July 15th, you can no longer trade precious metals on a leveraged account in US as a result of the Dodd-Frank Act (Wall Street Reform and Consumer Protection Act)
Means you can buy gold only in hard metal, you have to physically own it. No retail gold accounts on margin anymore, which is bullshit and protects nothing.

But you're right, silver has a lot more potential

Oh and about education, the company I worked for is now outsourcing the IT department to India because of course it's cheaper but also the universities there are better than in the US

[waverunner234]

Whirl go wipe your ass with your exceptions, the retail leveraged trader accounts are closed, including mine PERIOD
Don't try to teach me anything on trading leveraged retail accounts until you are sure you can beat me, and I can assure you that you have a very long way to go before you get there!

[Laz]

As long as the government keeps subsidizing college there will be no reason for costs to stop escalating. Colleges are a business and just like any business they will offer their services at a price the consumers can afford. If the government got out of college funding the cost of college would come down. Imagine how much a provider would charge if they new the government would pay half the bill.

[I B Hankering]

Originally Posted by Laz

As long as the government keeps subsidizing college there will be no reason for costs to stop escalating. Colleges are a business and just like any business they will offer their services at a price the consumers can afford. If the government got out of college funding the cost of college would come down. Imagine how much a provider would charge if they new the government would pay half the bill.

+1

[charlestudor2005]

Originally Posted by Laz

As long as the government keeps subsidizing college there will be no reason for costs to stop escalating. Colleges are a business and just like any business they will offer their services at a price the consumers can afford. If the government got out of college funding the cost of college would come down. Imagine how much a provider would charge if they new the government would pay half the bill.

Originally Posted by I B Hankering

+1

I agree. In 20 years we'll have a generation of uneducated people voting in the US. Since they won't have any way to research politicians' positions, they'll vote with any emotional issue that strikes their fancy. Or, they'll vote in a manner in which they are told at work...where a lot of them will be in unions. Even if collective bargaining is banned, you can't keep the workplace members from bitching about their lots.

And since they won't be going to college, they won't complete high school. They will be more interested in getting into the workplace and making money.

Damn uneducated voters.

[N6_in_the_village]

Originally Posted by CuteOldGuy

Where (are) the data stating that government jobs are decreasing while private sector jobs are increasing? That would be a terrific trend if it were true, but I don't think it is.

As you wrote in another post, you can find information or claimed information on the Internet to support almost any conclusion about any issue, and there's never a definite correct answer to anything. Except, of course, when there is . For a completely off-topic example, I believe that writings or speech represented as the work of George Carlin on the website http://www.georgecarlin.com/ "definitely" originated from George Carlin, and not from someone else trying to pass off their ideas as the work of George Carlin. (As long as that website doesn't get hacked )

The "definitive", "correct" source of numbers (statistics, data) about employment and other labor statistics in the United States, the data that are quoted by media reports, pored over by economists, and that can move financial markets, are provided by the Bureau of Labor Statistics (BLS), an agency of the US federal government, which of course has its own web site: http://bls.gov/home.htm "They're from the Government and they're here to help you" with statistics about jobs - although not (usually) with you finding a job .

So are the numbers on the BLS web site, which everyone regards as the "definitive" source of employment data, the Truth about the state of US employment, and other related stuff such as wages, hours worked, prices, productivity? I think even BLS spokespeople would admit their numbers are an imperfect representation of the Truth, due to sampling error (the kind of error that occurs in "opinion polls"), other approximations, and the difficulty of understanding something as complicated as a technology-based national economy.

A more interesting question about the BLS numbers that might possibly occur to some people here is: are the published numbers intentionally "biased" or "fixed" in ways advantageous to powerful people or groups (President, Congress, political parties, bankers, business, labor ...). I would be extremely surprised - although I haven't searched - if there aren't any posted claims of bias in BLS data. I'll just observe that, if key people in financial markets came to believe that BLS data is "fixed" - vs an imperfect but honest effort to measure the US economy - that would reduce the ability of the data releases to move markets.

By the way, if you choose not to believe BLS data, then you have no basis for saying "Zero jobs created in August 2011". Of course, you could still make a qualitative statement like "the US employment situation is in the cr#pper" - but the BLS is the source of the numbers everyone cites.

So enough of this rambling, I'm going to post some numbers that I just downloaded from the BLS website, page "Top Picks (Most Requested Statistics)" (http://data.bls.gov/cgi-bin/surveymost?bls). If you want to check my numbers, it will be helpful to have some familiarity with a spreadsheet program - like Microsoft Office / Excel or OpenOffice.org - that can read and do calculations with XLS files. Note, as defined by BLS, "total non-farm employment" = "total private employment" + "total government employment". (Sorry farmers and farmworkers, there are relatively few of you and you're difficult to count.) I'll show cumulative changes in the "total private" and "total government" columns from the end of Feb 2010, when "total non-farm" and "total private" hit a low, to the end of Aug 2011. Sorry, formatting is kind of cruddy because I don't know a quick way to do it better.


CHANGE IN NUMBER OF EMPLOYED PEOPLE (THOUSANDS)
(Date) (Total private) (Total government)

Feb 2010 0 0
Mar 2010 144 48
Apr 2010 373 96
May 2010 421 506
Jun 2010 486 249
Jul 2010 579 107
Aug 2010 689 -62
Sep 2010 798 -200
Oct 2010 941 -172
Nov 2010 1069 -207
Dec 2010 1236 -222
Jan 2011 1330 -248
Feb 2011 1591 -274
Mar 2011 1810 -299
Apr 2011 2051 -323
May 2011 2150 -369
Jun 2011 2225 -424
Jul 2011 2381 -495
Aug 2011 2398 -512

So the same BLS data series people that are talking about when they say "no jobs created in August 2011" shows net change of +2,398,000 private jobs and -512,000 (federal + state + local) government jobs in last 18 months. (By the way, the "bump" in total govt jobs around May 2010 was US Census enumerators and other temporary Census employees.)

[CuteOldGuy]

George Carlin was prescient and the most honest celebrity of his time. RIP, pal!