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We're On Track for 14% Unemployment
Real Clear Markets ^ | 01/12/2010 | Louis Woodhill

Posted on 01/12/2010 3:58:30 PM PST by SeekAndFind

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1 posted on 01/12/2010 3:58:33 PM PST by SeekAndFind
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To: SeekAndFind

Unemployment is already WELL OVER 14%.

The politicians decided some years ago that it was bad for their careers to have a fair count, so they have rigged the game.

Anyone out of work for over 6 months is no longer counted as unemployed.

Total BS.

Anyone without a job that wants one is unemployed in my book. Well over 14% already.


2 posted on 01/12/2010 4:00:44 PM PST by Bon mots
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To: SeekAndFind

The “official” rate is a ruse. Its at least 17% right now.


3 posted on 01/12/2010 4:00:44 PM PST by GeronL (http://libertyfic.proboards,com)
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To: SeekAndFind

we’re already at 22% unemployment if we used the old way of job calculation


4 posted on 01/12/2010 4:00:47 PM PST by 4rcane
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To: SeekAndFind
When Circuit City was liquidated, the capital that was liberated went to pay off its debts. The banks and bondholders did not turn around and lend this money to Wal-Mart. Incrementally, they bought government bonds with it

Why are they or banks buying government bonds?? Those bonds could easily become worthless.

5 posted on 01/12/2010 4:02:18 PM PST by GeronL (http://libertyfic.proboards,com)
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To: 4rcane

Yep.


6 posted on 01/12/2010 4:05:22 PM PST by AzaleaCity5691
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To: 4rcane
we’re already at 22% unemployment if we used the old way of job calculation

That's what John Crudelle says in his New York Post column entitled : How nation's true jobless rate is closer to 22%
7 posted on 01/12/2010 4:05:58 PM PST by SeekAndFind
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To: GeronL
"Why are they or banks buying government bonds?? Those bonds could easily become worthless."

They are under the misaprehension that government bonds are riskless.

It is absolutely true that government bonds are risk free. Until the very moment a Treasury Auction FAILs. Then all hell breaks loose, and we're Argentina.

8 posted on 01/12/2010 4:07:14 PM PST by Uncle Miltie ("Free" Healthcare + Citizenship for Lawbreakers = Democrats Forever! Buenos Dias!)
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To: SeekAndFind

9 posted on 01/12/2010 4:08:10 PM PST by Bon mots
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To: GeronL
Why are they or banks buying government bonds?? Those bonds could easily become worthless.

The banks don't think that way. They're still thinking that Uncle Sam's debt is rated AAA.

Interest rates from the Federal Reserve to banks are near zero. They're not near zero for you, at a mortgage or at a credit card, but the interest rate that exists between the Fed and the banks is zero, or pretty much.

So the banks can get free money by lending to the government. Now, the government has to borrow from someplace. What the simple explanation is, is that the government is borrowing money from the banks, there's zero interest on that. In exchange for it they're buying Treasury bonds, that's how you borrow or lend to the government, those bonds are a guaranteed 3% return. It's that simple. If you can lend to somebody that's guaranteed to pay you back 3%, as opposed to lending to somebody risky out in the private sector, who may not even be able to collateralize the loan, why would you do it? You got in trouble doing it once on the subprime mortgage business and you were forced to do that if you're a bank. So, if Obama really wants the banks to start lending to people in the private sector, the simple answer is to stop giving banks unlimited amounts of money for essentially free.
10 posted on 01/12/2010 4:09:39 PM PST by SeekAndFind
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To: SeekAndFind

11 posted on 01/12/2010 4:10:14 PM PST by Bon mots
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To: SeekAndFind

Read an article today. 22% unemployment.


12 posted on 01/12/2010 4:12:29 PM PST by mulligan
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To: Bon mots

If you count the college and high school kids needing part time work you can figure 14% like in California is very low. Wait until these kids graduate and find no jobs out there. June will be a real education.


13 posted on 01/12/2010 4:16:58 PM PST by Logical me (Oh, well!!!)
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To: mulligan
Read an article today. 22% unemployment.

Do you really believe that's ONE in FIVE out there you see on the streets ?
14 posted on 01/12/2010 4:19:18 PM PST by SeekAndFind
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To: SeekAndFind

The banks are borrowing from the government and loaning it back to the government?

whoa


15 posted on 01/12/2010 4:26:33 PM PST by GeronL (http://libertyfic.proboards,com)
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To: GeronL

The U-6 is 17.3 currently.


16 posted on 01/12/2010 4:29:58 PM PST by Petronski (In Germany they came first for the Communists, And I didn't speak up because I wasn't a Communist...)
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To: SeekAndFind

http://www.shadowstats.com/

Shadow Government has us at 22% right now.


17 posted on 01/12/2010 4:34:48 PM PST by Bean Counter (Stout Hearts....)
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To: Petronski

17.3% sounds about right


18 posted on 01/12/2010 4:39:26 PM PST by GeronL (http://libertyfic.proboards,com)
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To: Bean Counter

I would agree. We just got back from the Northside of San Antonio, there is a large Dillards there with an empty parking lot that had maybe 25 cars, don’t know how many were employees’.

My wife went through the store (to enter the other stores at the mall), said that there weren’t many folks at all shopping, mostly clerks. That’s not going to last, those poor folks will be looking for work soon.


19 posted on 01/12/2010 4:43:50 PM PST by brushcop (SFC Sallie, CPL Long, LTHarris, SSG Brown, PVT Simmons KIA OIF lll&V, they died for you, honor them)
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To: SeekAndFind
The U-6 rate is 1 in 6 as it is. Add in the early, forced retirements and it could easily be one in five. Just last month over 600,000 people ‘fell’ off the job rolls.

It is bad out there. There are few jobs in the middle and upper middle management and sales positions. The average unemployed worker spends more than six months finding a new job and most often accepts a significant cut in wages and benefits if he finds one at all. Outside of government services, which have been propped up by the stimulus, or whole sale created by O’bummer, there is little to no activity in the private sector. And as for ‘shovel ready jobs’ the only thing being shoveled is the B.S. the construction trade unemployment is now at 22%.

20 posted on 01/12/2010 4:58:42 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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