Job Creation in US far behind even current expectations, "storm is brewing" admits MSN

economywatch.msnbc.msn.com...

You know things are bad when the MSM [sic: MSN?] is admitting things look pretty foreboding.

But economic weakness abroad has lately become a formidable hurdle, as Obama has acknowledged, and global policymakers are acting like a storm is brewing.

China, the European Central Bank and the Bank of England all eased monetary policy on Thursday, raising speculation they had coordinated their action.

You think? China does not exactly look healthy as of late... they are doing alot of funny playing with their interest rates.

Europe is not the only worry weighing on the U.S. outlook. Washington plans enough belt-tightening at the start of 2013 to easily send the economy into recession. Cautious observers wonder if lawmakers can avoid this "fiscal cliff."

If things don't fall apart in late September / October, we have these government austerities kicking in next year, and we all know austerity is the might slayer of a consumer-based economy. Normal people have life-insurance policies. The economy and federal budget has death insurance- they are putting as many hazards on the road as possible, in case we miraculously miss a few of them and come out alive.

Lets count em:

-1.5 Quadrillion dollar derivatives missile
-Italy and Spain on road to ruin, set to drag down entire EU
-China is feeling the pain of low demand, continues to build ghost cities to keep itself busy
-Chinese interest rates being manipulated to stave off collapse as long as possible
-Chinese housing bubble burgeoning to burst
-Austerity measures crippling EU recovery
-No Eurobonds planned, so either total collapse or fiscal-political union in EU is coming
-US set to enact austerity of its own
-No more quanititative easing possible in US
-US has lost around half of its household value, and 30% of its buying power
-30% unemployment in many US sectors (including mine, the architectural market)
-A looming war in Syria, Israel, Turkey, and Iran
- Japanese Fukishima crisis at tipping point, set to knockout the already struggling Japanese economy, which has life-ties with the US economy
-Russia and Brazil increasingly hostile
-Precious metal prices being artificially regulated, potentially set to skyrocket as leading indicator



I guess when there is an elephant in the room, you can only avoid addressing it so long. Even MSN hangs their head low...

reply to post by joeraynor


You don't have to be a genius to see that America has gone down the crappier when it comes to job creation and wages to support a middle productive class.

Meaning, that most jobs been created are jobs that are increasing the welfare class, people that will work but still fall under government dependency for assistance because the wages are not enough.

But still the government can claim job creation even if they have to file for government programs.

Yes if the over look on jobs is that bad that can not be sugar coated anymore then we can bet that is much worst.

The economy is an illusion. It is all contrived. Those who control it can crash is whenever they please. Or they can make it limp along indefinitely. They control the media. All media. The occult world envelops this world.

reply to post by Numbers33four


Of course it is all contrived.

Money is not REAL per se...

and much less real is money in a computer game (banks), or money based on money based on money based on nothing (derivatives).

But you don't often hear the MSM come out and say things are going to hell in a handbasket... that is when you know something is up- it means they WANT you to know it is falling apart, so that people can be controlled through fear and desparation.

Disability Ranks Outpace New Jobs In Obama Recovery
More workers joined the federal government's disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation's jobs picture is after three full years of economic recovery.
news.investors.com...
The good news is, disability now counts as a job 

Excellent OP.

Keep in mind the China situation, this is the second time in a month they have lowered their interest rates. That's saying a lot despite what their data (which is mediocre at best) is showing.

Also Hilary Clinton further upsetting global political relations with slamming Russia and China. Geeze! Right or wrong, that's not going to help an already shaky global political alliance.

I'm not convinced the recovery was ever real and i don't think it will be until the banks get real and begin writing off all the junk mortages. So far they have been kicking the can down the road, until those losses are realized the U.S. economy will continue to "slosh" ahead.

People in a service economy making 10-12 dollars an hour can't afford 150,000 dollar homes. The banks need to get these foreclosures over with so that houseing can drop to an afforable level. Then you'll see the economy re-balance and real growth start agian.

What always gets me is that the JOBLESS NUMBERS they always release, are for the Washington D.C. area, not the rest of the country. We tend to forget that there are over 330 million people in America, 6 billion world wide and with 14-15% jobless rate, that means that the numbers relate to 46,200,000 million people are out of work currently, not the few hundred thousand they are always using in their numbers.

Originally posted by marg6043
reply to post by joeraynor

 

You don't have to be a genius to see that America has gone down the crappier when it comes to job creation and wages to support a middle productive class.

Meaning, that most jobs been created are jobs that are increasing the welfare class, people that will work but still fall under government dependency for assistance because the wages are not enough.

But still the government can claim job creation even if they have to file for government programs.

Yes if the over look on jobs is that bad that can not be sugar coated anymore then we can bet that is much worst.

There are jobs.... Americans are just unskilled

Come on folks... it's a no brainer. Europe in depression with America and the rest of the world quickly following predetermined footsteps. Gee, do you need to be Nostradamus to figure out where's this is headed?

Anyone with a sense of history knows what's coming next... if we survive the 2012-2013 mysteries... it will only set the stage to be trampled by the Four Horsemen and consigned to a sandy grave probably far from home.

The youthful half of the US is uneducated and unskilled, and from the looks of it, destined for unemployment or underemployment and life in a squat, or with mommy. For what else has society prepared so many mindless Zombies?

Those with nothing will march off to War and soldier wages will look good to them at the time. From there they will meet their fate and their destiny... if it does not overrun them first.

reply to post by HunkaHunka

There are jobs.... Americans are just unskilled

Haha, no, but nice try.

As I said, take my situation: I have a masters of science of architecture from the top university for my sector of architectural design in this country. I have worked for a few different firms, some of them among the greatest and most well known in the industry. And when my last firm layed us off, I have put in over 800 applications over the last 7 months with architecture firms all over the country. I have had a few interviews, but they always say that it is under the pretense that they are not hiring, but willing to talk anyhow.

The truth of the matter is that in architecture there is over 30% unemployment. NO ONE is hiring, and the only people who have a chance in hell of getting a job are the 50-year olds with 30 years of experience who are also out of an architecture job.

The only work I have had over this time is consulting with a Belgian firm... that designs massive estate landscapes... for Swiss bankers... talk about irony.

Don't tell me there are jobs out there for people with skills.

Originally posted by joeraynor
reply to post by HunkaHunka

 

There are jobs.... Americans are just unskilled

Haha, no, but nice try.

As I said, take my situation: I have a masters of science of architecture from the top university for my sector of architectural design in this country. I have worked for a few different firms, some of them among the greatest and most well known in the industry. And when my last firm layed us off, I have put in over 800 applications over the last 7 months with architecture firms all over the country. I have had a few interviews, but they always say that it is under the pretense that they are not hiring, but willing to talk anyhow.

The truth of the matter is that in architecture there is over 30% unemployment. NO ONE is hiring, and the only people who have a chance in hell of getting a job are the 50-year olds with 30 years of experience who are also out of an architecture job.

The only work I have had over this time is consulting with a Belgian firm... that designs massive estate landscapes... for Swiss bankers... talk about irony.

Don't tell me there are jobs out there for people with skills.

Obviously and apparently, you have no marketable skill...

You've rightly realized that old guys with 30 years experience are snagging the available jobs and that nothing about that dynamic is likely to change in the next 10-15 years? Bad timing for you.

Many wasted time at University and graduated with a big student loan and no real skills. I don't suppose you're qualified to build anything with your hands? Maybe find honest work as a carpenter? Truck driver?

Nothing has changed in your field: 40 years ago graduating architects were lucky to find draftsmen jobs, if anything. It's not too soon for you to start thinking about digging ditches for a living.

Plenty of jobs around... but nobody wants to hire the "Dead End" kids... and incidentally, when an employer says "willing to talk"... that means they are hiring... but just not you.

Because they aren't really talking but listening... and you've "failed" to convince any employer that you can make money for them, or that you can do the job.