Bloomberg warns US jobless riots

[oldtime]

Quote from failed_trad3r:

i have a problem with making stuff up as you go

"I have a big problem with this whole liberal democrat elitist idea that people need jobs."

there is so much wrong in this statement i don't know where to begin

might I make a suggestion?

If you are a liberal democrat, try learning how to operate a calculator.

It's really not that hard.

You just type in how much money you have and then subtract (thats the little - key) how much you are spending and if that number is negative then you have a problem which cannot be solved by taxing and spending.

honestly, I'm not making this stuff up as I go, it's been true for a long time (at least since the invention of negative numbers.)

They use to teach this in school when I was a kid before the Department of Education took over.

 

[wartrace]

Quote from yg10:

Actually Apple has hundreds of job openings in California.
http://jobs.apple.com/

Fine- Apple has a few openings in California.The fact remains the majority of their workforce is in China. Oh, read up one one of their main manufacturing sub-contractors "Foxx-con" - they had to put up suicide nets at the company facility as an employee benefit.....LOL. What is the unemployment rate in California right now? Pointing to a few jobs at Apple does not address the lack of employment in our economy.

Icemans comment has to be one of the most inane I have seen lately. Pointing to stock market valuations as a counter to my statement that businesses are hurting is just plain ignorance. It shows he has no clue about small/midsized business conditions. Even Wal-Mart is feeling the lack of consumer demand.

As I stated in an earlier post, one of my clients has seen raw material prices increase substantially yet he can not pass this on to his customers. This margin compression is being felt by business at all levels, even large publicly traded companies.To further complicate matters his revenues are off by almost half. Look at the construction industry, housing starts are at the lowest levels since the early 1960's. How many businesses rely on the housing industry?

As you will recall, the original post was in regards to Bloombergs concern about civil unrest due to the lack of employment. Initial claims remain above 400,000 a week which is what we saw near the HEIGHT of the last recession in 2000. Zero job growth in August and previous months not even meeting the levels needed for new entrants into the labor market?

I agree with Bloomberg- there is a very strong possibility we will see civil unrest at some point due to the lack of employment.

I also stand by my statement that business is hurting right now. I am not taking the narrow view of only considering publicly traded companies. I talk to business owners on a regular basis, I see their accounting records.

 

[oldtime]

I'm a worker, that's what I do

It's the employers job to hire me

If he won't do it, it's the governments job to make him do it

If the government won't make him hire me then I will break things

 

[oldtime]

Quote from oldtime:

I'm a worker, that's what I do

It's the employers job to hire me

If he won't do it, it's the governments job to make him do it

If the government won't make him hire me then I will break things

If I break things you will put me in jail

If I'm in jail I won't need a job

Problem solved

As a matter of fact, we could just skip the breaking things part and make it illegal to be unemployed.

With all the unemployed off the streets, the liberals could focus all their attention on improving prison conditions.

It would give new meaning to "work release"

The problem is, if the economy ever picks up again, employers would have to deal with the correction officers union to get workers released.

But maybe by then they will invent a new drug everybody likes and they can just make that illegal. That way they can replace rehabilited unemployed criminals with new drug offenders.

Man, I should have taken a political science course, this central planning gets complicated.

 

[failed_trad3r]

Quote from oldtime:

might I make a suggestion?

If you are a liberal democrat, try learning how to operate a calculator.

It's really not that hard.

You just type in how much money you have and then subtract (thats the little - key) how much you are spending and if that number is negative then you have a problem which cannot be solved by taxing and spending.

honestly, I'm not making this stuff up as I go, it's been true for a long time (at least since the invention of negative numbers.)

They use to teach this in school when I was a kid before the Department of Education took over.

I like this. You assume democrats are mostly responsible for the national debt of USA. But if you look closely you realize over 75% of the debt has been caused by non-liberals (ew liberals! ) seems most non-liberals don't know how to use a calculator

 

[IanMacQuaide]

The problem is, if the economy ever picks up again, employers would have to deal with the correction officers union to get workers released.

LOL...sadly that's EXACTLY how they think, but it's still hilarious!

 

[denner]

Quote from wartrace:

Fine- Apple has a few openings in California.The fact remains the majority of their workforce is in China. Oh, read up one one of their main manufacturing sub-contractors "Foxx-con" - they had to put up suicide nets at the company facility as an employee benefit.....LOL. What is the unemployment rate in California right now? Pointing to a few jobs at Apple does not address the lack of employment in our economy.

Icemans comment has to be one of the most inane I have seen lately. Pointing to stock market valuations as a counter to my statement that businesses are hurting is just plain ignorance. It shows he has no clue about small/midsized business conditions. Even Wal-Mart is feeling the lack of consumer demand.

As I stated in an earlier post, one of my clients has seen raw material prices increase substantially yet he can not pass this on to his customers. This margin compression is being felt by business at all levels, even large publicly traded companies.To further complicate matters his revenues are off by almost half. Look at the construction industry, housing starts are at the lowest levels since the early 1960's. How many businesses rely on the housing industry?

As you will recall, the original post was in regards to Bloombergs concern about civil unrest due to the lack of employment. Initial claims remain above 400,000 a week which is what we saw near the HEIGHT of the last recession in 2000. Zero job growth in August and previous months not even meeting the levels needed for new entrants into the labor market?

I agree with Bloomberg- there is a very strong possibility we will see civil unrest at some point due to the lack of employment.

I also stand by my statement that business is hurting right now. I am not taking the narrow view of only considering publicly traded companies. I talk to business owners on a regular basis, I see their accounting records.

Easily the best post in this thread, I happen to agree with nearly every point. With regards to the Bloomberg assertion, it all depends on the "welfare state" at this point. The unemployed former middle manager is no threat, the permanent underclass that has spent their lives as wards of the state is an entirely different matter.

 

[oldtime]

Quote from failed_trad3r:

I like this. You assume democrats are mostly responsible for the national debt of USA. But if you look closely you realize over 75% of the debt has been caused by non-liberals (ew liberals! ) seems most non-liberals don't know how to use a calculator

Do you have any solution or course of action which does not involve taxing or spending?

 

[luisHK]

Quote from wartrace:

I didn't realize we were just talking about "where you live", I thought this was a more general discussion relating to the overall economy.

It seems to me that IF we were talking about the economy nationwide instead of "where you live" it would be safe to say the majority of people DO hold jobs and looking at the exponential levels of debt growth in our economy it would also be safe to say that people have pretty much painted themselves into a corner with consumer debt service obligations. This level of debt service prohibits most from taking the risk of starting their own business. Missing just one paycheck will sink them.

Additionally, with established small business seeing revenues drop by over half it becomes even more difficult for new market entrants to compete.

Wartrace, why would anyone having let himself drowned in debt, most often through poor choices, would deserve any mercy (although concern, yes, especially if he starts rioting) ? Same goes for the people who "lack business sense to utilize their own talents to make their own money. They expect to be part of a slavery like system instead. That's what separates the top 5% earners from the 95% majority. "

With only a moderately right mindframe, making a decent living shouldn't be much of an issue.

Noticed Ron Paul was brought up in this discussion - I would love to see his alter ego on the continental european scene - but unfortunately an alien or the antechrist has about the same odd of success over there :eek:

 

[luisHK]

Quote from oldtime:

might I make a suggestion?

If you are a liberal democrat, try learning how to operate a calculator.

It's really not that hard.

You just type in how much money you have and then subtract (thats the little - key) how much you are spending and if that number is negative then you have a problem which cannot be solved by taxing and spending.

honestly, I'm not making this stuff up as I go, it's been true for a long time (at least since the invention of negative numbers.)

They use to teach this in school when I was a kid before the Department of Education took over.