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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (123196)	2/3/2012 9:38:50 AM
From: locogringo	6 Recommendations Read Replies (1) \| Respond to of 224680

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! zerohedge.com

To: Kenneth E. Phillipps who wrote (123196)	2/3/2012 9:49:15 AM
From: lorne	3 Recommendations Respond to of 224680

ken...maybe someone should check into any offshore accounts that hussein obama ....or whatever name he may use...has since he was placed in White House by soros...where the heck is all the money going. Social Security Trust Fund Outlook Takes $1 Tril Dive By JED GRAHAM , INVESTOR'S BUSINESS DAILY Posted 02/02/2012 news.investors.com The outlook for Social Security's trust fund has deteriorated to an astonishing degree over the past year, new Congressional Budget Office projections show. The nonpartisan budget scorekeeper released the estimates Tuesday as part of broader economic and budget forecasts. CBO expects the trust fund to peak in 2018 and decline to $2.7 trillion in 2022 — a full $1 trillion less than Social Security's own actuaries predicted last year. The new trajectory suggests that the trust fund's current depletion date of 2036 may jump ahead several years when Social Security's trustees release their annual report this spring, making the retirement program more central to the 2012 election . The trust fund doesn't mean much for the government's ability to afford benefits — Social Security's assets are offset by Treasury's equal debt. But it does give the program the legal authority to pay all promised benefits until its special Treasuries are spent. Under current law, once the trust fund is gone, Social Securi ty could only pay 78% of benefits. Since older retirees and the disabled would be protected, new retirees would face much deeper cuts to a benefit that is not especially generous to begin with. The average retired worker received a $1,200 monthly benefit last year before Medicare premiums were subtracted. Social Security's earlier reckoning day gives people less time to set aside savings to make up for what the program can't afford. Assuming a 22% automatic cut, average earners (about $43,000 in 2012) halfway into a 40-year career would have to set aside more than 5% of annual wages, or $2,150 a year, to replace lost benefits. This assumes the money is invested in Treasuries and is used to buy a lifetime annuity. Whoever is in the White House next year likely will have to give workers notice as to how this looming hole in the safety net will be filled, whether by longer careers, more saving or tax hikes. Disabled Trust Fund Already, the next president will have to address a near-term crisis in Social Security's disability insurance program that CBO expects to hit in 2016 — resulting in immediate cuts for many of the neediest beneficiaries. The separate trust fund for the working-age disabled is nearly depleted. Though resources can't be shared between the two trust funds without a legal change, budget analysts — and this article — combine them to offer a single view of overall program finances.

To: Kenneth E. Phillipps who wrote (123196)	2/3/2012 11:32:00 AM
From: longnshort	3 Recommendations Respond to of 224680

Implied Unemployment Rate Rises To 11.5%, Spread To Propaganda Number Surges To 30 Year High Submitted by Tyler Durden on 02/03/2012 09:35 -0500 BLS Bureau of Labor Statistics Real Unemployment Rate Unemployment Sick of the BLS propaganda? Then do the following calculation with us: using BLS data, the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number (because as chart 2 below shows, people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring as more and more old people have to work overtime, forget retiring), and you get 159.4 million: that is what the real labor force should be. The BLS reported one? 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers. What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30 year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda. Difference between Reported and Implied Unemployment Rate And why the Labor Force Participation rate is not declining due to retirement. Average: 5 Your rating: None Average: 5 (3 votes) » Login or register to post comments4519 reads Printer-friendly version Send to friend

To: Kenneth E. Phillipps who wrote (123196)	2/3/2012 11:32:50 AM
From: longnshort	2 Recommendations Read Replies (2) \| Respond to of 224680

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low Submitted by Tyler Durden on 02/03/2012 08:51 -0500 BLS Bureau of Labor Statistics Unemployment Withholding taxes A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement. Chart below shows it all - that jump is not a fat finger! And Labor Force Participation: This is the largest absolute jump in 'Persons Not In Labor Force' on record...and biggest percentage jump in 30 years. Chart: Bloomberg