All of JoeBama’s economic policies mirror the Obama-Biden economic issues. Underline it; emphasize it; note the pattern. The policies that intentionally held down the U.S. economy during the Obama administration are once again being duplicated. It’s Déjà vu all over again.
JoeBama’s energy policy is crushing jobs in key regions where energy jobs are being lost in dramatic fashion. Simultaneously the costs of energy, including gas, are skyrocketing.
The longer-term costs have not yet hit the consumer, but they will soon as inflation will jump dramatically while employment will continue to struggle because consumer demand will drop… The issues create a cascading cycle.
The Biden administration is hiding their actual policy impact by blaming COVID, but that’s not the issue that will hurt blue-collar workers in the longest term. We are going back into the intentional disconnect I have talked about where the stock market (multinationals) will gain, but the U.S. worker economy will suffer lost jobs and lower wages. This dichotomy is by design and the corporate media economists never discuss it.
This reality is a big part of the reason why Pelosi and JoeBama needed to quickly pump money into the working class in order to avoid the pitchforks. However, that $2,000 injection will not last and will be eaten up quickly by the larger and longer term Biden economic policy.
The U.S. economy, which is 70% dependent on consumer spending, is going to contract. This contraction will be “unexpected” by the professional pundit class who check their stock holdings and smile. However, this contraction will not be unexpected by the blue-collar workers who watch their paychecks shrink and their costs to live (electricity, fuel, food prices) increase beyond their earnings.
If you are a blue-collar or white-collar worker in a BLUE region or state, you will feel the impact first. It is going to get very ugly, as noted by the disparity in the unemployment claims this week. Weekly unemployment claims [Dept of Labor pdf here] tell the story.
(CNBC) – […] First-time claims for unemployment insurance rose more than expected last week despite other signs of healing in the jobs market, the Labor Department reported Thursday.
First-time claims for the week ended April 3 totaled 744,000, well above the expectation for 694,000 from economists surveyed by Dow Jones. The total represented an increase of 16,000 from the previous week’s upwardly revised 728,000. The four-week moving average edged higher to 723,750. (link)
The negative results are continuing on a ‘Red State’ -vs- ‘Blue State’ dynamic as noted in the Bureau of Labor Statistics (BLS) reporting: “In February, the highest unemployment rates among the divisions were in Los Angeles-Long Beach-Glendale, CA, 10.9 percent, and New York-Jersey City-White Plains, NY-NJ, 10.8 percent.”
For the weekly jobless claims, here’s the breakdown by state:
(Source pdf)
Do not dismiss these results as just bad policy. There is also a strong ideological component as the Chicago Crew is driving the granular issues on a day-to-day basis. The Obama team intentionally work to diminish the economy of the United States because their “fundamental change” requires it. Joe Biden is an idiot and has no clue about what is structurally behind all the moves…. That’s why Obama installed Kamala Harris.
The professional republican class are corporatists; do not expect them to oppose any of these policies that undermine the U.S. economy and expand globalism. The GOP is paid by the corporations to act stupid and go along.
The road to serfdom is paved with fraudulent intentions….
Three letters J O B S !!!
-Joe Biden
I saw a local restaurant owner on the local news last night who said people make appointments for job interviews and then don’t show up. They’re making more on unemployment. What was that about the “wisdom” of universal basic income?
Over 18 Million Americans Are Still On Government Jobless Benefits, Despite Broad ‘Reopenings’ – 8 Apr 2021
https://www.zerohedge.com/personal-finance/over-18-million-americans-are-still-government-jobless-benefits-despite-broad
Yup, had that happen here in Garbageville/Riot-town. I have real job openings with real work. We’ve called a dozen or so resumes – desk job accounting work – and we get no call backs or no-shows for set-up interviews. Has happened for months.
Can confirm. After July (when the supre-duper unemployment ended) people were begging to work. Recently though, after the (not super-duper-just super-but-good-enough) we can’t get anyone to work. It’s hard staffing a business right now, even though wages are ridiculously high here in So-Cal.
“They’re making more on unemployment.”
Let me tell you a little story… recently my husband got a job where he was verbally promised about $4k a month. It was a cable installation job: the guys who come in, and fix your boxes and wires, go under your house to install cables, and climb 40 feet in the air to mess with the wires up there. He was told specifically that he wouldn’t have to do sales.
It is a hard, filthy, thankless job. He was working an average of 45 hours a week, 7 and 8 and 9 jobs a day, not allowed to stop to use the bathroom, no lunch breaks, not allowed to stop to get anything to drink, travel time between calls not factored into his assignments. Rude clueless customers, rude overbearing managers, temperatures ranging from below freezing to over 90, rain or shine – and even hail. He was coming home caked in mud, exhausted beyond words, dehydrated, hungry, with a migraine, every night.
You know how much he got paid for all this? An average of $325 a week. They also cheated him out of $4k in bonuses he was promised. When he complained to HR, he was told “Oh, in order to get the promised pay, you have to do sales.”
So yeah. I’m sure companies are having a hard time finding people. Most people aren’t willing to work themselves to death for $300 a week.
Oh, and before you say “the company has to make money first,” apparently this company charges their customers an arm and a leg. If I remember correctly, the CEO got a bonus of $15k last year. It’s not that they can’t pay their employees. They won’t.
Comcast?
WOW. But good guess. Technically a WOW contractor but they’re all peas in a pod.
Wide Open West?
No, literally, WOW! https://www.wowway.com/ It’s a stupid name and confuses a lot of people. Although the stylization might not be in all caps anymore.
Yes. WOW! with the exclamation mark stands for the Wide Open West cable communications company. Look on their website homepage at the company links down at the very bottom
Oh. Huh. Yes, them. Around here they go by a different company name.
I am sorry your husband is being so mistreated. He’s working hard in very poor conditions. Companies like WOW aren’t dignified to even be in business. I hope your husband can find a different job. He deserves better.
He walked out on them, actually, and we’re living on the stimulus we got. Between the health toll on him, my increasing (pregnancy-related) disability, and paying for gas, it simply was costing more than he was making. He’s had several interviews, for warehousing and one for IT, so we’re hopeful he’ll have something new soon.
People, be nice to the contractors who come to your home. You wouldn’t believe the crap that they (have to) put up with.
I’m saying prayers for you both.
So stressful for your family. Some companies are despicable.
I am sorry to read of the trouble your husband has with finding work. This is just horrible.
I wanted to address the part of your post about rude, clueless customers. So many people have no sense of curtesy when dealing with service people. Yes, we want to get our service and yes, its an inconvenience but we also need to realize and understand that we are dealing with real people. People who are working hard and in many cases doing everything they can to get the job done. Thanks for your insight from “the other side”.
One of my favorite stories of his is where he opened the grate to a crawlspace and came face-to-snout with an alligator. He just slowly closed the grate and scooted inside, where he finds the owner and goes “Sorry, I can’t do your installation today. You have an alligator under your house.”
The owner goes “Oh, you’ve met Fred, then.” Yeah… knew he had a gator living under his house and didn’t bother to warn the cable installer.
Then there are the stories of the black widow nests, the snakes, the sewage flooding, the savage dogs… and so much more…
Hopefully he will find a better place to work soon!
Thank you. We’re hoping and praying. He’s putting in applications daily, so surely something will come along.
Country class- so true!
I have been on both sides of this coin- customer service and as a customer.
There is no excuse for being rude.
All part of the no accountability culture that serves the new corporatism so well. I can almost hear HR saying, “Whoever told you that sales weren’t required either had no authority to say that, or didn’t know what they were talking about.”
Meanwhile, “Too late. Too bad, so sad.” And the shareholders get to keep smiling. To think, I used to defend these reprobate assholes.
Worse than that – HR and the manager (one of the traveling ones who goes around establishing new branches, hiring and training employees, then moves on to the next location) conspired together to cheat him out of his $2,000 sign-on bonus, plus his $2,000 ‘first 200 jobs’ bonus (which he was also told was every 200 jobs.) He got 200 jobs done for them in three weeks… and got two paychecks of $323 and $355. I’m not sure they ever even paid him his last check.
I most devoutly hope that company goes under in a mountain of debt, and that that manager and that HR %1tc# specifically lose their jobs.
Don’t forget the “Bureau of Wage and Hour” –if you have any of this in writing.
Just sayin’
Hi TreeClimber,
In OKC, servers in a diner are taking home (cash) 175-400 –per shift — and more! We still cannot get people to show up for shifts. It is a diner, though, with all sorts of customers.
Never underestimate the money made waiting tables in a diner.
Just for a reference, I used to wait tables in an expensive restaurant (in Texas) and had to split my money with the restaurant (tip pool to pay the front of the house staff) and never brought home more than $170.
Best wishes!
Our favorite Thai restaurant is take-out only. You can eat inside at a table, but it comes packaged in take-out containers.
The sweet owner told us the cooks and the waiters won’t come back because they make more money on unemployment. She notified the unemployment office that she called them back and they don’t care. I guess they have the right to refuse a call back notice.
Went to local restaurant in Florida, the manager said the same thing, people make appointments and don’t show up. Unemployment and other benefits make work less competitive.
Winston:
The other shoe drops when the job openings no longer exist. Then? The poor have the choice of the government, or starve.
You see the attachment to the Democrat Party of poor inner-city blacks: government is their lifeline.
That is the plan for the rest of us.
Very true Raptors.
Soon the jobs disappear and the money from the government becomes less and less and less.
In the end no jobs and hardly any money.
It won’t matter much because there will be very little goods produced to buy anyway.
Scenes From 2030
https://off-guardian.org/2021/04/02/scenes-from-2030/
Very small excerpt:
“Hi, dude!”
“Oh. Hi. How are you?”
“I’m good. How do you like my shoes?”
“Nice. Are those…”
“Yeah. The original Nike Lil Nas X Satan’s Shoes, version 2030.”
“Wow. But don’t those cost a fortune? How can you afford them, with just the Universal Basic Income?”
“Well, duh. I didn’t buy them, dude. I’m just renting them from Amazon Prime, of course. All of my clothes are rented, including the original Calvin Klein underwear.”
“Eew… Well, they did say that ‘you’ll own nothing, and you’ll be happy’…”
“What are you talking about?”
“Nothing, just remembering an old joke here. So, what’s new? What are your plans for next week?”
“Not sure. Maybe I’ll go to the City Hall Yearly Masked Ball. You want to come? The masks are all N95 compliant, so it’s safe.”
“No, thanks. I thought you were travelling to Italy for the holidays?”
“Nah, I can’t board a plane this month. I didn’t get my Moderna monthly booster shots. I wanted to, but the lines were so big, the next appointment available for me is only next month.”
“This Covid-29 is really pesky, isn’t it?”
“You bet. But I’m sure the vaccine is working. Just give it time. It takes a few years to achieve full immunization, but of course, with the new variants and viruses that appear every month, it’s always a game of catching up. We got to be patient. So, yeah, no travel this month for me.”
“Well, you know, you could always travel around your own room.”
“What?”
“Oh. I just got reminded of an old 18th century novel. ‘Voyage around my room,’ by Xavier de Maistre.”
“What it’s about?”
“It’s about a guy who, well, travels around his room.”
Raptors…agree with you.
The go-getters are snatching the jobs from the welfare class, who are taking their “vacation ” by staying home and getting an unemployment check.
When unemployment benefits run out, or are reduced,they will only find jobs that are “leftovers” that no one wanted when they look for job.
The go getters will have better chance of retaining job when/if cut backs happen, since they will have longer time there. Last hired-first to go.
And then folks complain about AI taking away jobs. Last time I checked, AI never demands a raise, always shows up on time, never tries to unionize, needs no health benefits, and knows how to shave and tuck in its shirt on the job.
Anyone on here surprised? The first line is everything you need to know. “All of JoeBama’s economic policies mirror the Obama-Biden economic issues”.
We had eight years of slow economic growth and high unemployment misery. This lead to the drug/opioid pill mill epidemic in rural blue collar areas of the country coupled with the open borders policy of the Kenyan. Now were living in a “pete and repeat” situation.
“There is also a strong ideological component as the Chicago Crew is driving the granular issues on a day-to-day basis. The Obama team intentionally work to diminish the economy of the United States because their “fundamental change” requires it.” Maybe that should read the Chicago globalist CULTural Marxist mob.
There’s another economic aspect not really recorded by these statistics: temp/contract jobs. People who work through staffing companies/work temp/contract, are not eligible for UE. These are the people who end up with zero income at all.
I see plenty of harshness on the Treehouse towards the homeless. California’s drug addict/pedophilia camps are the standard by which all the homeless, nationwide, are judged. Well I can tell you firsthand, that in many many places, the homeless are literally just people who got temped out of work, or who simply couldn’t make their house payments – and didn’t fit the right demographics for government assistance.
That is a small number and rising but
Many of the homeless cash government checks every month and spend it on drugs and alcohol
There is billions spent on homeless services
And many of the homeless are illegals
“Many of the homeless cash government checks every month and spend it on drugs and alcohol” – a common myth perpetuated by those who want to excuse their own snobbery towards the people on the lowest rung of society.
“There is billions spent on homeless services” – yeah, and those billions go to the same sort of pockets as the money for public schools. It never actually reaches the people who need it.
“And many of the homeless are illegals” – and many aren’t.
I’m sorry they do cash government checks. And, I have no pity for people who choose to put themselves in that situation- and many do.
I’m all for helping but I need to feed my own first. These homeless have jobs they can go get- many choose not too.
People can’t complain no one will take work and then say we need to support the homeless. Sorry, those two things can’t exist together. If there are jobs- these people need to go take them.
Spare me the I don’t care- I grew up as an abused child at the hands of a drug addicted and alcoholic mom. She chose to do drugs and she chose to take government handouts to spend on those drugs while ignoring her responsibilities and beating her children.
I have offered to buy food or dinner for people holding signs saying “Need money for food” or “Can’t find work, need food” etc. They never take the offer they want the money. Well, too bad so sad- I’m done with it. They obviously are not too hungry if they don’t want the meal. Oh, that’s right, they need drugs and alcohol.
And, the government has enough hand out programs for families. Spending billions on it.
I don’t have the patience for the excuses any more.
I’ve been homeless. Also tried getting a job. YOU HAVE TO HAVE AN ADDRESS. And I dunno about you – but around here, when I offer food to someone homeless, they’re more than grateful. But even if someone has food – sometimes what you need is a shower, or dry shampoo, or a blanket.
I’ve never touched drugs and have only had alcohol a couple of times in my life – and none of it when I was homeless. But man did I (and my mother) sure get cussed out, spit at, looked down on, and judged.
Excuses? People who use the “drugs and alcohol” line are the ones making excuses. I’m damn well telling you how things are, because I’ve been there.
Having an address is one of the perks of going to a homeless shelter, solves that problem doesn’t it?
I mean there is no perfect solution for you but the
tax payers pay plenty to try to help in some wayC. I feel for you tree but how about telling us how to help you that has not already been done or tried that has failed?
Specifically, I don’t need help right now.
Let me set you straight on some common “homeless shelter” misconceptions: by and large, they are not there to help the homeless. They are there to laundry money and line pockets. The actual homeless who try to shelter there are robbed, starved, and abused. If you do manage to get a bed, you’re on a ticking clock – if you can’t get a job that they can extort money out of you, you’re out on the streets again. They get government grants for each new person they bring in, you know, but only if it’s filling a bed.
Stereotypes are another huge factor. (See Dwayne Diesel above.) “All homeless people are drug addicts/alcoholics/thieves!” With very few exceptions, no one will hire someone who is, or even has been, homeless. If you put your address as the local shelter – your application goes straight in the trash.
Disease? They don’t care. Lice? They don’t care. Sick? They don’t care. The residents are a source of free labor, “to pay for their stay,” (never mind the thousands in grants they’re getting per person.) The food served is old and spoiled. Your clothes are taken away when you get in, and you’re lucky if you get everything back. You’re not allowed access to electrical outlets, so good luck keeping a phone (another necessity for a job) charged.
Is every shelter like this? Probably not. But our local one sure is, and most the ones I’ve heard about are. So before you advise someone to “go to the shelter,” maybe check it out first…
“They are there to laundry money and line pockets.”
Figured that out a long time ago! They also have to send a little to “the big man”.
There is no doubt that the money that is given to the “organizations” that “help” the homeless ….
also comes back as political donations to the foundations and re-election campaigns!
Tree climber….we should never generalize.
There are always good people and bad people.
I personally was on a picnic in the park with friends during lunch and a panhandler (being nice) came up to us. Food was given to him that we had brought. He took it…..and threw it back at us! Literally threw it at us!
He screamed and said—I want money!
So yes, it does happen. Drug and alcohol addiction seems to have created a sub class within the welfare system.
When I see people with signs asking for help, I buy them food….bottled water, etc, and food for the animals if they have any.
So far only one person offered to do work for me in exchange for the food. I live too far from town to accept the offer.
That has always been my way of analyzing the ask for “help” I suggest buying them a sandwich or a hot meal and I carried around bags with socks, washcloth, soap, tooth past, water etc. and offered it to them. I have received good and bad responses. Some take the “goodie” bag and agree for the meal. Others give me a hostile stare and walk away. I help those who accept help.
NY is a perfect example of what happens to all the billions that are spent on the homeless. Less than 5% of that money is actually used to help these poor souls who live on the street. Instead the money lines the insatiable pockets of the politicians and bureaucrats who are running our city and state into the ground.
NY just passed the biggest tax increases and budget in history. Despite the fact that they got an extra $12 billion from their Demo-Commie friends in DC.
We have so much money they can’t spend it fast enough, but still are raising taxes on “the rich.” (anyone making over $100K a year).
There is no hope for my state. None. I have worked for over 35 years as a taxpayer and good government advocate but even I have had it. There is too much corruption and apathy. The Repubs are all in on it too.
They make money beyond their wildest dreams. Even the locals who work for state senators make 6 figure salaries for no show jobs.
Florida has never looked so good.
Eatern Tn isn’t bad either. We bought up there 15 years ago when FL was crazy now thinking of selling and stay in FL.
I always look forward to your posts since I live in the same failed state. I don’t think that Florida will solve your (or my) problems. The problems are national, and will end up national in the end. Personally, I have been looking in Honduras where the people are nice, the prices low and many speak English. The corruption is at least not disguised, so you can deal with it. Better to live with a tyrant that may occasionally sleep, than a “do-gooder” who will always be in your face.
This ArmstrongEconomics.com report was dated 3/29/2021. First sentence: “Nearly 20% of Americans were unable to pay their rent last month….”
It doesn’t take much for a person to become homeless and JoeBama doesn’t give a sh*t. You seem a little heartless yourself.
FTA: Nearly 20% of Americans were unable to pay their rent last month, according to the Census Bureau. In response, the CDC announced it would extend its nationwide eviction ban until June 30 to avoid a possible mass displacement. The CDC noted that it would be counterproductive to lift the ban prior to the US government releasing rental assistance, as Congress has already put aside around $45 billion in rental aid. The protections are in place for individuals earning under $99,000 and couples earning under $198,000 annually. However, landlords with less liquidity who do not have access to relief funds are beginning to sell their properties. As housing and rental costs increase across the US, the possibility for a future housing crisis begins to mount.
https://www.armstrongeconomics.com/market-talk/market-talk-march-29-2021/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS
And mentally ill.
You would be too if the world hated and abused you for not having a house.
Not true.
Temp/contract workers get a W2 and pay all taxes and unemployment insurance. Hence, they qualify for unemployment.
Long ago the US Congress changed the laws so that getting a 1099 is very difficult, they want everybody on a W2 (employee status) so they can get their taxes… and the IRS is stringent on this one rule.
I don’t know what staffing company told you that, but they’re lying. My husband has been a temp worker for years. HE DOES NOT QUALIFY FOR UNEMPLOYMENT. Everyone is very clear on that.
I’m a 1099 and guess what, the law regarding a 1099 when you know how the legal law works, I’m not this person
26 usc 7701 26
(26)Trade or businessThe term “trade or business” includes the performance of the functions of a public office.
And way, way down in the tax code is this little gem…
(c)Includes and includingThe terms “includes” and “including” when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined.
He gets W2s, at the end of the year. (I’m a 1099 for my data work but that’s different.) It’s just that companies don’t pay UE – or any other benefit – for temp workers.
Well let’s just say I was a 1099, I’m now retired and trade for a living.
If you get a W2 you are eligible. It may be difficult but you are eligible. Dr. Gleeson does a good job of explaining the intricacies.
How to Qualify for Unemployment Having Worked a Temporary Job (chron.com)
Obviously Dr. Gleeson has never been to SC. If you work a temp job here, YOU ARE NOT ELIGIBLE. Period, full stop.
Was no one paying attention to the Trump stimulus where it openly said that “people who are not usually eligible, such AS CONTRACT WORKERS AND TEMP WORKERS, and homemakers, will be” ??
No, I do contract gigs on the side, and I get a 1099NEC which does not deduct taxes. I have to make sure I withhold it myself unless I want to pay it all on Apr 15th.
You get a W-2 if you work through a staffing/temp agency. You’re still doing contract/temp work, but you’re technically an employee of the staffing agency. That’s why some people who do gig work still get W-2’s, and they’re eligible for unemployment because the temp agency has to pay the UI taxes.
People who want to get a W-2 and be eligible for UI who do gig work have another option: set up an S-corp. It’s not hard to do. You set up an LLC, and send the IRS an S-corp election…basically it identifies your LLC’s tax status. Then, you hire yourself as an employee of the LLC and the sole owner. The result is that you are now an employee of your own LLC, and you can collect your contract money, pay your SS, Medicare, UI and other taxes, and send yourself a W-2 at the end of the year. The downside is you have to do 2 tax returns (the LLC’s in March and then yours in April), and you have to make sure to send in your quarterly estimated payments to the IRS and State Treasury.
A lot of people don’t like doing this because they either think it’s too complicated or they want the $5,000 per month not the “after tax” $3,500 per month figuring they can just pay the taxes later. Of course, the end result is the Tax Man still comes in April, and if you don’t set aside SS, Medicare, UI and other $ you won’t have those to fall back on later if the work dries up. So there’s a huge huge premium on SAVINGS for straight-up contract workers who get a 1099.
My old LLC was an S-corp, and I put myself on my LLC’s payroll and W-2’d myself. My tax situation, combined with my wife’s, made this a great option for us. But, everyone’s tax situation is different. So, like me, consult a CPA.
So, it’s a big old “depends”.
Can I ask what state you’re in? I had a small S-corp for awhile and don’t remember what you’re talking about. I’m also pretty sure the smaller staffing companies don’t have to pay UE… at least that’s what DEW keeps telling us.
If we can find that loophole as an LLC, though, that would be helpful. Do you know if that’s applicable in all states or just yours?
Colorado, and I definitely paid UI and received annual statements from Dept. of Labor and Employment telling me what my current UI rate would be for the coming year. The wrinkle is I had some part-time staff on the S-corp payroll. Perhaps the rules are different for a single-owner LLC with only one employee, idk.
Colorado is experiencing a MASSIVE scam of UI. People are getting statements from CDLE saying they are getting UI payments, they’re receiving Visa cards for their benefits, etc….even though they never filed claims. It’s a huge problem, and I am certain it is tied to COVID “benefits” because that is a LOT of money sloshing around with almost no accountability. Huge, huge, problem, and nobody at the State level is doing anything effective to stop it.
When I did my taxes this year, I actually received a full UI statement from CDLE about all the UI benefits my wife had received. It’s 100% fraudulent. No matter how many fraud reports I file with the CBI, I get no response. So I figure CDLE and CBI are actually profiting from the scam at this point.
Oh. Yeah, rules are definitely different in SC regarding single-employee LLCs and multiple employees. Still would bear looking into, perhaps. Thanks for the heads-up.
Yes, I can attest to that and add that housing/rental costs are a big factor as well. Rents continue to increase even while incomes decrease. For some people it’s now a choice between food or a roof over your head (which includes utilities).
Yep. Two years ago our rent – for the same apartment, mind you – was slightly less than $800. In a couple months it’s increasing to $850 (and not even worth that, really.)
Ten years ago we almost lost our home. I was crying about what would happen to the animals. Our emergency option was being monopolized by my husband’s sister. After dozens of phone calls one attorney agreed to help.
Consumer protection is gone.
Housing, houses and apartments, are way overpriced. Jobs are given to foreigners. DemoCommieFascist vile politicians, and the wealthiest people….. oligarchs and politiburo…..are purposely creating these problems. Has been happening for decades.
Homelessness is one paycheck away for too many.
I’m aware. I’m so, so aware. But good luck convincing the “decent, middle-class” population of that.
Best Wishes to you and your family! I hope you never go through such an ordeal as homelessness again!
Thank you.
If it were just me, I could deal with it. But with toddlers – and another on the way – I will do whatever it takes to make sure they don’t have to go through that.
Remember, the jobless claims numbers are always on Thursday.
The new jobs numbers are always on Friday.
Thursday matters less than Friday. Friday is the tell.
Once the Friday numbers start trending downward, bar the doors. That is a couple of months off, but it’s coming down the pipe.
“Unexpectedly”
Just like it’s unexpected that drinking too much will make you sick.
Just like it’s unexpected that eating too much junk food will make your butt bigger.
Just like it’s unexpected that forgetting to get your chick a card for her birthday will earn you a long-term stay in the doghouse.
Yes, “unexpected” was constantly used during the MAObama years to excuse what was in fact the deliberate wrecking of America.
Not sure why it’s unexpected. Keystone pipline was halted and Embridge Line 3 is currently stalled while Embridge waits for more permits to continue work. Friendly Natives even left the pipeline workers little presents in Carlton, MN. Bomb squad had to be called in. Joe and Walz have empowered people to protest the pipelines by any means necessary.
The largest competitor for much needed labor right now is the federal government. It makes me angrier everyday. It is more beneficial to stay home and collect welfare than going to work!
Regarding the energy issue, I read this commentary this morning and found it to be aligned with this discussion:
https://amgreatness.com/2021/04/04/why-americas-elites-want-to-end-the-middle-class/
Concerning the federal government as a large competitor for labor, most economists take government expenditures as direct additions to gross domestic product: the more the government spends, the greater the GDP. However, Adam Smith informs us in his Wealth of Nations (1776) that all who eat at the king’s table produce nothing.
When prices of a 2x4x8 went from $3 to $6 that of course was reflected in the Quarterly reports but as people start realizing nows not the time to remodel, that’s when you’ll see the drops start to occur.
Wife, is seeing it now with builders and she’s in mechanical engineering. Prices have jumped up on everyone so everyone is raising rates and eventually, it comes to a halt.
we are in for a very rude awakening.
The market has gone parabolic so not sounding like a CNBC of Fox Business salesman but a fairly decent correction is coming.
many gaps below need filling.
My hubby owns a commercial contracting business and materials have increased 3x’s already since Jan and has rec’d notification and been told by all of his suppliers that’s it’s only going to get worse. He’s busy right now but these are jobs that were scheduled prior to Biden but everyone in the industry is seeing/hearing jobs are going to be scarce like they were during the Obama years. The residential market always falls off before commercial so people will start to see what’s coming in the very near future.
My mother-in-law just retired from Lowe’s and said it’s getting bad with the contractor’s who prices had to be raised in order to make a decent profit but they can’t keep raising their rates because we all know where that leads.
It makes sense now doesn’t it, all the illegals?
Encouraging and advocating for more illegal immigration ALWAYS “made sense” from the greedy profit perspective of those who gain from employing them.
Unregistered aliens from third world countries are so desperate to get a paying job they don’t realize they are often/usually being paid substandard wages with zero benefits.
I never had a problem with seasonal migrant crop pickers because Americans simply would not do that work for the below-minimum wage rates paid by the farms..
Those illegals are being used to build houses. They’re basically day laborers and the mass producing builders don’t care that the work is shoddy and without real skill. I’m told that most people don’t mind the inferior third-rate work. Of course I know this is a bold-faced lie and wonder how long this can continue. It seems we’re headed for disaster no matter what.
This is not the only issue. We are headed toward famine. Stock up while you can. Grow food. Buy local.
great that your m-i-l got to retire from Lowe’s. At our store, all the older ‘experienced’ associates (read:’paid o.k. hourly) – over the past 1.5 years – have been let go for various b.s. reasons (like ‘work performance’ or ‘misconduct’) This has saved Lowe’s 35-50% per associate with the ability to hire ‘replacements’ for $9 an hour, rather than us ‘experienced’ folks for $13-$19 an hour. ta da!
…mo’ money, mo’ money
And due to COVID, coupled with Jobama’s polices, the goods or parts needed are hard to come by. The lead times are through the roof and suppliers must pick and choose who to sell their product too first.
Do you mean the materials costs have had increases three separate times since January or that they are 3x what they cost in January (have risen 300%)?
The former seems more likely and expected since I have personally seen lumber prices fluctuate greatly over the past 30+ years, dropping and rising over short periods but with a somewhat steady overall increase due to general inflation (decreasing value of the dollar) .
An ArmstrongEconomics.com Report dated 3.29.2021.
The vertical monthly lumber increases of late. Astronomical. No end in sight.
Per other blog posts he has referenced the building boom in FL since everyone is exiting the blue states, NY being high on that list.
FTA:
“Everything was rising in price which led to the realization that it was cheap to buy today because it would only cost more tomorrow. I ordered a new refrigerator in December. It finally arrived in March. We are entering a period of shortages so prices will be moving higher as supply is constrained and demand will rise. The other side-effect of lockdowns and the destruction of offices with people working more remotely, everyone is out remodeling or expanding their homes. The construction industry is booming. Just look at the price of lumber.
Welcome to the inflation cycle our computer has been projecting would be built upon shortages.”
https://www.armstrongeconomics.com/armstrongeconomics101/inflation/inflation-comes-when-people-see-it-is-cheaper-to-buy-today-than-tomorrow/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS
My phone bill went up $25.00, no extras, such as long distance, have a land line only, Checked all other phone company web sites, said that they all are raising rates. Any one else have this happen to you?
The inevitable Stock Market correction will be the nail in Biden’s coffin. It will also be the necessity for experiencing pain by the “spoiled”. Too many are “Fat dumb and happy” about the present illegal Presidential administration.
In case you are have trouble recognizing “brain-dead”. Just look at anyone voluntarily wearing a mask. These are the ones who need to feel pain in order to get their mind-right.
Will never understand the mentality of people excited over 2k of tax payer money vs. a job that results in much more money. Unfortunately, laziness and stupidity are exactly what the decepticons want to instill in people. You won’t hear them talk about striving for the American dream that’s for sure.
The picture at the end makes my blood boil. I can never look at Obama’s face more than a second because it’s the look of evil to me.
We all see it. Everyone should. But I work with a couple of knuckleheads who think the price of gas went up because of the Texas freeze. We live among idiot consumer media addicts. And I mean addicts. Their reality is framed by consumer media and it doesn’t matter if consumer media conflicts with science — consumer media reality wins in their minds. It’s where they are most comfortable. And what happens when you try to bring an addict out of their comfort zone?
Withdrawals- sometimes resulting in violence.
Denial.
Texas freeze! Consider the following graph. It comes from the US Energy Information Administration and covers the week before and during the Texas freeze/blackouts. It shows the different sources of power. Solar power shows up as little bumps. If you had to rely on that, then you would have no power at night. Wind power is a huge source of power in Texas, often comprising 35% of generation, more than any other single source. Note that in the lead up to the freeze on Feb15, there was one day where wind power went to zero, and also for two days during the freeze. Wind farms were struggling to stay open at all, and failing on several days. Then consider natural gas production. It went from less than that produced by wind to wayyyyy more. There is a flexibility in natural gas energy that wind cannot compare to. There is a dip on the day of the blackouts in NG energy production, but even on those days, NG energy production was way over the norm. Yes, we had blackouts. Yes, they were in large part due to natural gas interuptions, but if we had relied on wind or solar, then thousands of people would have died. Were there things natural gas energy producers could have done better? Probably. If we had gone green, would we have been better off? Not a chance. Did the blackouts in February have anything to do with higher gasoline prices? Nope.
https://www.eia.gov/todayinenergy/images/2021.02.19/chart2.svg
Daniel…nice to know I am not the only one who had the gas up because of freeze!
I gave my—what was the cost of oil per barrel in October vs now?…….
I do believe that they are paying more attention to politics now…..
This will be interesting to watch. NYC, Chicago, LA and other Blue cities are about to get a large infusion of cash from Uncle Sugar.
Much of this will go to low and middle-income households and quickly get spent on consumer goods, bidding up retail prices.
Those on fixed incomes—retirees, Welfare/Social Security recipients, annuity/bond holders—will start to get squeezed at the same time bureaucratic office holders are seeing their ranks swell with new hires to distribute the loot.
Wage disparities will increase and lead to increased social polarization. This will produce resentment among the less favored groups.
Cries of “Social Justice” will fill the air. Mobs will form. Riots will ensue. The cities will burn.
Uncle Sugar will double the previous cash infusion because nothing succeeds like failure.
This will end badly.
You must be new here. That money mostly goes to businesses owned by friends and families of the politicians. Those “businesses” then turn around and sub-contract the work to contractors for a lot less and so on down and down as the friends and family of politicians scrape off tons of cash from the top and nothing actually gets done… as usual.
Wrong! I got here during the Zimmerman trial.
What about you?
Venezuela, here we come.
I was saying when Hillary was running now I am saying it with Biden.
What happened to all the evidence of wrongdoing by Democrats in Spygate that Sundance saw that was going to lead to so many people going to jail?
That seemed to be dropped
Dropped like a lead ballon by the cowardly corrupt feminist Supreme Court.
Yup. Never put up a SCOTUS nominee who cries like a baby during the confirmation battle.
Thomas showed how it’s done.
Feckless Supreme Court. Disgraceful
It would take reading the daily posts to know the answer. Too bad you missed it.
Yes, it is stunning that a number of former FBI agents, DOJ lawyers, and others, are not rotting in jail for their crimes right now. What we discovered is that the FBI is a criminal organization with an indetectible few who are of good character. Who are they? We don’t know, they are in hiding within the deep state.
The planned demolition of Main Street America for the benefit of Wall Street and K Street.
These people should be arrested and put in those migrant detention centers.
What should be done and what is not being done have a lot in common.
Sundance is so right.
Everyone of us knew these policies were coming. The Obama regime was/is evil and anti-American.
I still challenge Obama supporters and ask them to name one thing the Obama regime did to improve America during his 8 years. A few who didn’t lose their health insurance, claim Obamacare. Most won’t answer the question, or dismiss the question by saying ” a lot of things” but nothing specific. My experience from 2009-2016 tells me they did everything they could to hurt America, but we were just too big for them to take down.
This is going to get very ugly. We must take the voting systems in every state back or it’s over. These people truly want to destroy the country and our prosperity.
The regime are criminals and need to be arrested and removed from positions of power. It is our God given right to enforce the laws of the land when the government is under the influence of criminals and refuses to enforce laws, or worse, breaks the laws.
Remember, in order to distract the pheasants from the corruption in congress they need a war.
watch closely, it’s starting to build.
Yep. Right on target for the War Cycle per MA.
Pheasants will need many partridges to load into their muskets.
Do not know where this came from, but some one said bite me wanted to out do FDR,in my opinion that means DEPRESSION and WAR.
It’s what they both wanted: the degradation and impoverishment of America.
Yep. It is Obama pulling all the strings except the ones that are reserved for his masters in the Chinese Communist Party.
Do you really think Obama is smart, powerful and savvy enough to do all this? Obama is nothing more than a puppet with a face in front of the real evil wrongdoers.
Valerie Jerret is the brainy evil behind OhNo
Yeah it’s not rocket science. “Now wash your hands and don’t be a racist”.
What does the Chicago Crew’s ideal America look like? I still can’t figure it out. Obviously they will all be super rich, but what is supposed to happen to the US long term?
The US has a total different meaning for them than for you.
Third world shi-te hole.
The ruling class have everything, the rest have oppressive poverty
TPTB have spent decades tearing down the economies and depressing the peoples of many a nation for the benefit of TPTB. It is unlikely they wish to reverse those profits going forward by raising those economies/peoples back up.
It seems more likely, imho, TPTB will do to the U.S. what they have done worldwide.
Privatize the PROFIT
Socialize the DEBT
Tear the fabric of the country to pieces.
Take over
DOMINION
“Privatize the PROFIT
Socialize the DEBT”
This may be a somewhat better description of Corporatism than the one Mussolini offered, if only by dint of its brevity.
It does seem to be a “Guiding Principle” in everything they do.
I think these freaks have a very strong need to feel superior. Power,money superiority sick
Unemployment insurance is paid for by the companies. No cost to the state. Sales tax is placed on top of the gas prices. If gas goes up, the state gets a windfall tax gain. Higher energy prices filter through raising prices just like minimum wage increases. The resulting higher prices are subject to sales tax so once again the state gets a tax windfall from causing conditions that raise prices.
If you elect politicians to represent you, remember that they realize there value by handing out government money. Without government money to hand out, nobody is going to buy them lunch.
Ya’ll just need to start thinking like a democrat.
“Only an Airhead Can Save Us from Air” (climaclownology hoax)
“Green Prince of Darkness Exposed” (sustainable fraud)
“From Muscle Power to Carbon Empowerment” (Abiotic Oil)
The trifecta of energy LIES
Soon it’ll be easy to boycott Woke corps. No one will have any $$$.
I came across the figure yesterday that only 5% of Americans commute to work by mass transit – amazingly small. The figure is much higher in NYC, and that may be why the VIPs think mass transit is some sort of viable option.
In many big cities, some fragment of mass transit exists as a toy for the politicians: express trains from nowhere to nowhere. The ambition was that people would see it, ride it and demand more. Never happens.
The higher gas prices are meant to price people right out of their cars and into mass transit (all part of the ruling class’s Great Reset). Infrastructure is code for building the mass transit that will be demanded.
The great thinker George Jonas predicted that what fascism and communism were to the 20th century, the environmental movement will be to the 21st century. Utterly needless mass suffering is coming our way, from egomaniacs pursuing their utopian dreams.
If you missed it, Bill Gates’ ridiculous plan to block out the sun has died because his Swedish partners have chickened out (Gates would surely have pursued it to the bitter end). That may be all that saves us: a few timid souls who lack the egomania of John Kerry or Barack Obama. They will never relent.
One of the factors that drives mass transit in larger cities like Chicago and NYC is the cost of parking. It’s supply and demand.
When I visit family in Chicago I always used the El. It’s easier and the last time I paid for parking in downtown Chicago was in 2000 and it was $25 and they didn’t care if it was for 15 minutes or 10 hours.
Washington, DC is reliant on mass transit. You cannot get to work in DC without it. There is literally no place there to park your car.
I used to ride the bus when I was a starving post-doctoral researcher at UC Davis. I lived in downtown Sacramento, and it took 1.5 hours to get to work and then another 1.5 hours to get home. By car, the same trip took 15 minutes. I reasoned that I could do research while in transit, though that was easier said than done.
Mass transit is an inferior good: The richer you are, the less you are willing to use it. Do you really want to cling onto a pole in the light rail in DC when that pole may have been recently gripped by someone ill with who knows what? Do you want to sit in a seat when someone may have recently had an “accident” while sitting there? Democrats want to foist on us all kinds of inferior goods.
Do you want to ride mass transit without carrying a sub machine gun for protection?
https://www.foxnews.com/us/nyc-subway-slashings-bus-driver-assault
Hmmm, just doing some bear math in my fuzzy head, the new weekly Unemployment claims just about wipe out last months jobs added number. My guess is that government jobs grew while private sector jobs shrank……just like during the reign of Obozo.
I have seen headlines that shout….”Stock Market hits new highs, President Trump wrong!”
“Unemployment is at it’s lowest…..Trump wrong! ”
The hoar media is pushing the lies hard.
My boss cut everybody’s salary by 10%.
So…I cut my work by 10%.
The policies employed by the Democrats are the same as those we employ in the realm of foreign policy to sanction other nations to try to coerce their submission to our goals. What we deny North Korea or Iran, for example, are similar to what the Democrats deny the American citizens they so desperately despise and also wish to coerce into submission. However in the case of U.S. Citizens, there is also the deep satisfaction of humiliating and degrading the lives of the hated Americans. This is why we are compelled to submit to absurd ideas like transgenderism, and maintaining radio silence about eat Olen-stay lection-ay. Also why the military is humiliated and transformed into a SF nightclub with plush fatties like Colonel Vindman outranking actual men and patriots.
I can promise you all this, if this administration raises taxes expect a very decent stock market correction.
The markets are hesitantly climbing higher expecting something but when I noticed the news started talking the markets down that’s when I realized the big boys are distributing right now.
They are holding it up in order to get on the right side and they need the media to help them talk it down.
Happens all the time.
This from 2017, you should all read this regarding small businesses…
https://www.armstrongeconomics.com/world-news/taxes/small-business-was-the-backbone-of-the-economy/
The unemployment numbers don’t matter under Biden. Everybody will get a government check
You are right! Value no longer is attained through virtue. Values happen causelessly, because government bureaucrats want there to be values. Normally, one obtains values through exercise of virtue. The Law of Causality requires that all values may only be attained through exercise of virtue. However, under Democrat ideology, values happen with no cause what so ever. Gumdrops rain from the skies. Of course, for the values they desire to appear in the hands of their blessed groups, they must take those values from people who exercised virtue, meaning that some class of individuals must be made into productive cattle. Guess which class you belong to? Moo!
Covid tax coming soon?
“There Are Absolutely No Job Seekers”: How Trillions In Stimulus Sparked A Historic Job Market Crisis – 8 Apr 2021
https://www.zerohedge.com/markets/there-are-absolutely-no-job-seekers-how-trillions-stimulus-sparked-historic-job-market
Something odd is going on in the US economy.
On one hand, in the aftermath of the covid pandemic there are millions and millions of former workers who have lost their jobs and are unable to return as their job may not even exist today (while their skills atrophy and they become increasingly unemployable with every day they are unemployed). Addressing this, on Thursday Fed Chair Powell spoke at an IMF panel saying that over nine million Americans remains out of work, while a quick look at the latest BLS data shows that there are over 100 million Americans who are out of the labor force (of whom just 6.85MM want a job currently, and a record 94 million don’t want a job).
At the same time, as we pointed out last night, JPMorgan and many others have noted that when one looks at the recent JOLTS data, which showed a near record number of job openings, a clear trend is emerging: there is a big labor shortage in the US, one which could (finally) lead to higher wages in the US.
There are several million illegals coming to take those jobs – definitely not higher wages coming.
Bull crap. I can’t believe the Treepers are falling for this “Americans don’t want to work, that’s why we’re bringing migrants” shtick. There are plenty of Americans who want to work – while potential bosses ignore them and shout ever more loudly that “there’s nobody to do the work!” Those selfsame bosses know that if they wait a little longer, they’ll have illegals shipped right to them that they don’t have to pay a living wage, much less benefits.
In that picture above, where’s the third stooge ?
Makes me smile. The only chance left for this country is massive economic pain. Add to that 60 to 70 million people asked for this – let’s hope they get it good and hard.
Unlikely for most of them, they are on the Government teat.
The problem is that so many deplorables will suffer right along with the Biden voters. It’s going to be bad in 2022 going forward.
“Despite” is the new “narrative”. The economy will come back from the depths despite what policies and regulations are enacted just like after 2008. It just won’t be anywhere near what it could be. Despite… put it in the 2021 jargon… just like narrative and engineering.
So, you are OK with hamburger flipper being top end job??
I’m pretty sure I detected a sarc in there . . .
Comrade Puppet Obama was in power for 8 x 52 weeks = 416 Jobless CLAIMS REPORTS. Nearly every one of them was revised up by 15-20% to show more jobless claims than reported.
Sock Puppet Joe is just picking up where his mentor left off.
Want to know how bad the damage can be…Note that under his mentor Comrade Puppet Obama, just for starters:
Record low Job Market Participation Rate
Record low in number of NEW IPO’s
Record HIGH in number of people granted social security unemployment benefits.
Record HIGH in unemployment for 18-22 and 55+ age groups.
ZERO re-investment of Bailout cash inside the USA. (so far, only 10% of the trillions pent has reached citizen’s pockets and 100,000’s of them are illegal immigrants)
Add to these facts that under Sock Puppet Joe, millions of illegals are going to be added to the Unemployment benefits rolls of all types.
What puzzles me is that even Keynesians believe that during an economic down turn, you should 1) lower taxes, 2) increase government spending, and 3) lower interest rates. These three things should increase demand and drive the country to fuller employment. Of course, in Austrian economics, theses are things that create bubbles and lead to further economic downturns. Why is Joe Biden desperately seeking a tax increase? Does he not believe that Covid has caused an economic downturn that has led to a huge increase in unemployment? He must believe that his trillions of dollars of stimulus more than account for the negative effects of his tax increases. Is this a fetish? Kind of like sniffing hair?
Just like the Great Recession and Recovery Summer we’re in for eight years of crap.
WE THE American People got F**ked when Obama got elected in 2008. We called him President Zero for what he did to the growth of our Economy. Gas prices $4 @ gal the apology tour. Obamacare. This is going to be worse because it has Obamas finger Prints all over it, but if it fails and it will, it will be the Biden legacy. Bidens Failure.
I said it back then and I’ll say it now: J.O.B.S. = Just Obama Bull Shit……… We must resist and push back hard, they are going in for the kill of Americas economy and its stabilizing middle class. These leftists are deadly serious and our paid off RINO’s think its just politics as usual. They are greatly mistaken.
AHHHH! We can use “unexpectedly” again….
We won’t be able to escape it.
Or the frustration that it was anything but.
Cue the theme for “The Guaranteed Basic Income Show”.
The worker will always win in the end….
The cartoon summarises US decline in a picture.
Working the way down the road to universal income. Part of the socialist utopia.
I remember back in the Obozo years when just about EVERY metric that was negative in some way, shape or form was deemed to have been “unexpected” by the media. We, the people, knew precisely that the metric was due to his stupid programs and policies. And guess where BiteMe, by the way NMFP, gets his advice. Obozo, of course. What a crock!
When Joebama and crew ram through a tax increase using reconciliation, Wall Street will notice, businesses will cut back, and overall it will diminish consumer confidence. When the Chauvin trial does not get the expected results in combination with riots, high spending and new taxes, everyone will head to the bunkers. Who in their right mind will have the confidence to spend money and keep the economy moving?
And don’t discount China or Russia or another bad actor taking advantage of Biden’s incompetence with some long wanted change in the world causing more spending wariness from consumers. They know they can stall the US economy with some limited military action without even engaging us. It’s a win win for them, they get some issue resolved without opposition and put Biden in an appeasement position that he can’t get out of.
Debbie Downer