Archive for July, 2009

For Sale: one state, slightly used…

July 28, 2009 Leave a comment

Click image for slideshow

Florida’s commercial real estate market is dying.

You have to follow the clock on the photos: the person who took these pictures drove about two minutes between each site.

Light reading…

July 27, 2009 Leave a comment

“Power law distributions incarnate the notion that extreme events are not exceptional events. Instead, extreme events should be considered to be rather frequent and to result from the same organization principle(s) as those generating other events: because they belong to the same statistical distribution, this suggests common generating mechanism(s). In this view, a great earthquake is just an earthquake that started small … and did not stop …”

Didier Sornette, Dragon-Kings, Black Swans and the Prediction of Crises

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You are being played…

July 23, 2009 Leave a comment

Question: When does 1 + 1 not equal 2?

Answer: When Washington does the counting.

According to the Department of Slavery Labor, there were more than 522,000 initial claims for unemployment for the week ending July 11 – a decrease of 47,000 from the previous week’s revised figure of 569,000.

Of course, this is only how the DOL counts people: a very complicated process requiring quantum mechanics, a trained monkey, fourteen economists in matching bowties, and a fifth of tequila.

The sober practice of counting the newly impoverished the old fashioned way will likely find that, in fact, 667,534 actual human being walked into an unemployment office somewhere in the country, and filed a claim during that same week – an increase of 86,389 from the previous week, and nearly 150,000 real, living, and potentially homeless job seekers than the Department of Chattel Labor circulated to the media as the headline you will likely take as truth.

(It’s on television, so it must be true!)

The above number, as you might expect, does not include those who lost their jobs, but do not qualify for benefits. And, the reported total figure of 6,135,066 persons claiming unemployment  – an increase of 63,714 from the preceding week – does not include persons who are still unemployed but have exhausted their benefits.

Will Unemployment Sink the Obama Agenda?

July 22, 2009 Leave a comment

The Nation’s Washington, D.C. Correspondent, John Nichols, explains how the rising rates of unemployment could imperil The Obama Presidency. Nichols looks at the political risks of joblessness…

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Congressman Stearns: Mr Paulson How Do You Have Any Credibility?

July 20, 2009 Leave a comment

For your viewing enjoyment.

Watch as Congressman Stearns, (Republican, Florida) fits Hank “Munster” Paulson, (Bankster, Goldman Sachs), with a bloody new asshole in front of a very amused audience.

According to the Wiki:

Paulson was Staff Assistant to the Assistant Secretary of Defense at The Pentagon from 1970 to 1972. He then worked for the administration of U.S. President Richard Nixon, serving as assistant to John Ehrlichman from 1972 to 1973, during the events of the Watergate scandal for which Ehrlichman was convicted, and sentenced to prison.

The Wiki also tells us that, at Goldman, Hank Munster succeeded:

… Jon Corzine, Stephen Friedman, and Robert Rubin … Corzine [later went on to become] a U.S. Senator (later Governor of New Jersey), Friedman [became] chairman of the National Economic Council (later chairman of the President’s Foreign Intelligence Advisory Board) under President George W. Bush, and Rubin [served as] both chairman of the NEC and later Treasury Secretary under President Bill Clinton.

Which pretty much means that Goldman Sachs has been running US economic policy for almost 20 years…

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16 above ten…

July 20, 2009 Leave a comment

10 states above eleven percent … and Michigan, at 15.4 percent unemployment, is now the first state to ever have higher unemployment than Puerto Rico. (At least since 1989 – Our chart only goes back that far)

16 above 10

While you are digesting the horrid figures above, consider the case of Arkansas, where the chief economist of the state thinks something is fishy about BLS reported unemployment figures for his state:

LITTLE ROCK — Arkansas’ unemployment rate last month was 7 percent, a significantly lower figure than the national rate of 9.4 percent and a statistic that on its face suggests the effects of the recession have been less severe in Arkansas than in much of the country.

Arkansas’ chief economist isn’t so sure.

“I think there is a technical problem with the indicator for Arkansas,” said John Shelnutt, administrator for economic analysis and tax research at the state Department of Finance and Administration. “That problem is causing (the reported unemployment rate) to be low compared to the nation and most of the region.”

You might also factor in another misleading report of declines in jobless claims, which, owing to Washington’s manipulation, showed 47,000 fewer people applying for unemployment, when, in fact, 86,000 more applied:

The Labor Department said new applications for unemployment insurance dropped by a seasonally adjusted 47,000 to 522,000, the lowest level since early January. Economists polled by Thomson Reuters expected claims to rise to around 575,000.

A department analyst said the drop in new claims didn’t point to improvements in economic conditions. The second straight weekly decline reflected problems adjusting layoffs for temporary shutdowns at General Motors and Chrysler plants to retool for new models.

The unadjusted figures actually showed that new claims rose by 86,389 last week, which would push the total to 667,534.

The department’s seasonal adjustment process expected a large increase in claims from auto workers and some other manufacturers, the analyst said. Since that didn’t happen, seasonally-adjusted claims fell.

Those adjustment difficulties also were behind a big drop reported for people continuing to draw unemployment benefits, the analyst said.

The number of people still collecting benefits fell by a seasonally adjusted 642,000 to 6.27 million, the lowest level since mid-April.

The unadjusted figures for continued claims showed an increase of 63,714. That data lags initial claims by a week.

Why Washington would be adjusting a hard number like how many people actually APPLIED for unemployment insurance is likely one question you are asking yourself right now.

When we figure out the answer, we’ll post it.

Oh yeah, we found the answer: They just lie – all the time, about everything…

Somewhere in Washington – right now as this is being typed – there is a Washington bureaucrat lying about something or other.