Payrolls Huge Miss: Only 38,000 Jobs Added In May; Worst Since September 2010 (gold price soaring)

Zero Hedge ^ | June 3, 2016

[Zakeet]

If anyone was "worried" about the Verizon strike taking away 35,000 jobs from the pro forma whisper number of 200,000 with consensus expecting 160,000 jobs, or worried about a rate hike by the Fed any time soon, you can sweep all worries away: moments ago the BLS reported that in May a paltry 38,000 jobs were added, a plunge from last month's downward revised 123K (was 160K). The number was the lowest since September 2010!

There is no way to spin this number as anything but atrocious.

[Opinionated Blowhard]

Its not a “huge miss”. Its the new normal. Welcome to Socialism, folks.

[familyop]

It's not all about Obama. The international trade regime (production centralized in certain areas), regulations from state and local governments, skyrocketing management salaries, artificial scarcity and NIMBY-ism have much more to do with it. The people at the bottom are left to compete against each other (cheap, part time jobs), and many are homeless.

Both political parties are socialist. Have a look at the NIMBYs.

OpenSecrets.org
American Fedn of St/Cnty/Munic Employees [State/County/Municipal Employees]
[Total Contributions:] $94,708,977
[To Dems & liberals:] $93,739,954
[To Repubs & Conservs:] $671,755
[Pct to Dems & liberals:] 99%
[Pct to Repubs & Conservs:] 1%

Leviathan (Uncle Sam employs more people than you think)
National Review ^ | 02/03/2011 | Iain Murray
"...nearly 40 million Americans employed in some way by government."

...and pensioners from the same.

America’s Ruling Class — And the Perils of Revolution
http://spectator.org/articles/39326/americas-ruling-class-and-perils-revolution

The Fragmenting of the New Class Elites, or, Downward Mobility
http://volokh.com/2011/10/31/the-fragmenting-of-the-new-class-elites-or-downward-mobility/

Environmentalism and the Leisure Class
http://www.freerepublic.com/focus/f-news/2835601/posts

The New Upper Class and the Real Reason We Dislike Them
http://www.freerepublic.com/focus/news/2843575/posts

Are you a member of the political class?
http://www.americanthinker.com/blog/2010/08/are_you_a_member_of_the_politi.html

Downton’s Class System — and Ours: We have a ruling class that despises the free market and does...
http://www.freerepublic.com/focus/f-news/3024119/posts

[familyop]

"And they expect to pay for everyone else to get endless benefits on the backs of those working, even if it is only part-time."

And many of the working are on food stamps. Without the welfare assistance, many of those people would be unable to pay the increasing rents and be homeless. It's a slow genocide driven by regulators, their NIMBYs and their American bosses in manufacturing on foreign soil.

Over 40 years ago, some folks behind Nixon wanted a special trade status for China. Since then, an ever growing number of Americans have been libeling and cheating their neighbors.

[familyop]

The following is the best answer so far.

Marcin Jakubowski - The Open Source Economy | @marioninstitute
https://youtu.be/MIIzogiUHFY?t=35s

Open Source Ecology
http://opensourceecology.org/

Permaculture
http://richsoil.com/

It's not a popular answer in politics, because most political folks supported by their government-derived incomes don't want any real, productive work happening under their surveillance.

[xzins]

Looking at welfare living rationally, I’m told that a job would have to pay 30 to 35 thousand a year to provide the same economic benefit. A $15 dollar an hour job on a 40 hour a week shift will bring in approximately 30,000 dollars. This gives us some idea why $15 an hour was chosen as the proposed minimum wage by liberals.

Even they know that the trade off is sitting at home collecting 30 thousand a year or working and receiving 30 thousand a year as wages.

Is it possible to keep the welfare income at 30,000 and have any incentive to return to working for a living?

A real earned income credit would help some, but it is actually given to non-working people and illegal aliens, too, so it is undercut. First, it continues to incentivize not working, and next, it incentivizes illegal immigration which drives down wages.

Therefore, the ONLY program that will incentivize work is to require workfare instead of welfare. Cleaning up roadsides, building roads and trails, and other make-work kind of labor is still labor. And the incentive to pursue a higher income is that the person is already working anyway. If they punch the clock, sweat, get tired, make progress toward finishing a job, then they learn that without work there is no food.

Gingrich was right about workfare years ago. It is the only way out of the slavery of government subsidization.

[familyop]

"Looking at welfare living rationally, I’m told that a job would have to pay 30 to 35 thousand a year to provide the same economic benefit."

Quite a few former and current Freepers have been getting food stamps. They would disagree.

"Gingrich was right about workfare years ago. It is the only way out of the slavery of government subsidization."

He got what he wished for a time from Hillary during the '90s. Let's take a look at that.

States moving to restore work requirements for food stamp recipients
Fox News.com ^ | March 29, 2016 | William La Jeunesse

"20 hours per week" for $100 worth of food per month for an individual. That's about $1.25 per hour. About a dollar and a quarter's worth of food per hour for labor. The recipients are not influential in politics.

Do you really believe that the gravy train from the socialist regime of recirculating debt will go on much longer for those who are politically influential while regulating against work and private property rights (local regulations, NIMBYs)? They regulate against owner-building, home gardens, home auto repair and many other righteous and productive activities.

Pride goes before the fall. It's likely that many who believe themselves to be more equal animals are about to learn that lesson despite so much unrealistic and dreamy "prepping."

[spokeshave]

Here is Obama ...exercising so he can "turn over every stone" in his search for jobs for the folks

[ichabod1]

No one has experienced decreased labor participation like this since the great depression. Now we understand why the country lingered in the depression so long. It was because Roosevelt had his boot on the economy so he could be seen to be “fixing” it.

[xzins]

“Welfare living” and the 30,000 benefit describes those living a welfare existence.

One would have to pro-rate the value of food stamps only and require a commensurate amount of work.

[familyop]

"One would have to pro-rate the value of food stamps only and require a commensurate amount of work."

Okay. I'll try looking on the bright side of tomorrow. The political tussles between factions for government funds and their shrinking debt regime may continue to incite more subversive gardening and animal husbandry outside of the more regulated areas of the northeast, the coasts, the mountains and the deserts. ...not to mention more subversive open source design and building of manufacturing and agricultural equipment.

Some will do it. Many of the rest are irrelevant.

[xzins]

I have a garden. :>)

Store bought tomatoes don’t taste anywhere near as good as garden tomatoes. Same with potatoes. I had so many watermelon last year, I gave them to neighbors. Let them get ripe in the garden and there’s nothing to compare.

[familyop]

Here are a couple of tips. Oil will continue to get very expensive before long. So will food, vehicles and other things. ...not to mention bond collapse, the dollar falling like a rock and austerity programs (big spending cuts, layoffs, pension haircuts,...). The end of maniacal Ponzi schemes is near. The once-beneficiaries will use the last of their money and time to protest futilely.

[xzins]

I live on a fishing stream with enough acreage to grow food and enough trees to provide heat.

I agree about oil. Saudi has succeeded in driving 2/3 of the American wildcat frackers out of business, their lackies have bought them up, and they’re negotiating for the remainder.

They will permit oil to go up to about $55 a barrel, IIRC, because the frackers need about $60 to break even.

By the end of the year oil will be above 50. If Trump opens up energy, then that would disrupt their plan. Expect Saudi to be big time against Trump in the election...something we already figured because of the muslim thing.

The Fed will soon have its excuse to go to negative interest rates and fees will be levied on all accounts. To facilitate all of this, something must be done about the cash problem.

[familyop]

"I have a garden. :>)"

That's great! Some of us were taught by previous generations to garden, but there's much more information around the Net. It's fun to study and try new methods (permaculture, etc.).

Also, there's the weekly post from greeneyes.

WEEKLY GARDEN THREAD JUNE 3, 2016
http://freerepublic.com/focus/f-chat/3436660/posts

[xzins]

I was looking at your permaculture link an hour or so ago....got caught up in the chickens. I think I’m going with new fencing and goats, though. The problem with growing grain is that its so easily destroyed. Tubers, grass, and goats are fairly easy to maintain and not easy to render useless.

[familyop]

On oil, some of the material posted here is fairly honest.

http://oilprice.com/

There’s a variety of perspectives and interests, though.

[xzins]

Thanks. I’ll check it out.

[spokeshave]

Goats give you meat, milk, and pelts...also home made cheese and yogurt...and if you have any milk lift over goat soap.

But you need to take care they don't get in your gardens...also the horned variety will strip and eat the bark from trees like willow and maple...and any young fruit tree.

Our big mama goats can walk around on their hind legs and eat leaves, small branches and fruit from fruit trees.

[xzins]

I have Walnut, Ash, Buckeye, and Sycamore in my wooded acres. They’re older trees for the most part...12” or larger in diameter...except for the Buckeye.

[familyop]

Goats will clean up the weeds and fertilize the pasture.

Good info on building goat fence here.

Goat Facilities
Marvin Shurley
American Meat Goat Association
http://www2.luresext.edu/goats/training/facilities.html

Whatever you plant, make sure that it has large and extensive roots and much fiber above ground. That, plowed under and disked, will loosen up the soil really well. After that or if further loosening of the soil is not needed, for example, three kinds of hay (perennials, both roughages and legumes) will do really well. Great for calves. Goats seem to prefer weeds.

On other gardening, have a look at permaculture. For example, a foot of compost poured on top of the soil, topped with a layer of cardboard, cardboard topped with mulch (woodchips or whatever), will both fertilize and form a barrier against weeds for a while. Another method is to simply dig trenches parallel to the topography and bury wood in them (parts of old trees or whatever). Allow the wood to rot (two or three years). No weed protection there, but that will hold a good depth of water that won’t evaporate easily.

If you’re very analytical and not affected much by emotions,... ;-)

Humanure Handbook, 3rd Edition
http://humanurehandbook.com/contents.html

It’s good info, but I prefer animal manure that’s plowed under for one season before using it as fertilizer.

Could probably stand to use human manure—properly composted in advance—for a hay field or something like that but haven’t tried it (such composting being time consuming and not easy in cold climates). Must admit that I’m in too much of a hurry to get things done to bother with it, unless septic system pumpers become extinct.