Courtesy of Tyler Durden via Zero Hedge...
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While by now everyone should know the answer, for those
curious why the U.S. unemployment rate just slid once more to a "meager"
5.9%, the lowest point since the summer of 2008, the answer is the same one we
have shown every month since 2010: the collapse in the labor force
participation rate...
(*SIGH*)
...which in September slid from an already three decade
low 62.8% to 62.7% - the lowest in over 36 years - matching the February 1978
lows.
(*PURSED LIPS*)
And while according to the Household Survey, 232,000
people found jobs, what is more disturbing is that the people not in the labor
force, rose to a new record high - increasing by 315,000 to 92.6 million!
5 comments:
http://www.navy.mil/submit/display.asp?story_id=83658
U.S. forces in the North Arabian Gulf concluded a search and rescue operation for a missing U.S. Marine Corps aircrew member today at 3:00 p.m. (GMT), after efforts to locate him were unsuccessful. The Marine is presumed lost at sea.
(*PURSED LIPS*)
In accordance with U.S. Department of Defense policy, the name of the Marine will be withheld until 24 hours after family member notification.
USS Makin Island, with embarked elements of the 11th Marine Expeditionary Unit, is currently on a scheduled deployment to the U.S. Central Command Area of Responsibility where it is supporting operations in Iraq and Syria, and throughout the region.
(*SIGH*)
http://www.bloomberg.com/news/2014-10-03/bogus-congressman-said-to-get-backstage-at-obama-event.html
An unidentified man....
* WAIT TILL YOU READ WHY HE'S "UNIDENTIFIED...!!!"
...posing as a member of Congress...
* WHICH ONE WOULD ASSUME IS A CRIME...
...made it into a secure area backstage at President Barack Obama’s appearance at a Congressional Black Caucus Foundation awards dinner in Washington Sept. 27, according to a White House official.
* OBAMA HAS BROKEN - BROKEN - THE U.S. SECRET SERVICE.
The man entered the backstage area during or just after Obama’s speech at the Walter E. Washington Convention Center as members of Congress gathered there to have their pictures taken with the president, said the official, who asked for anonymity to discuss the incident, which has not previously been made public.
(*SMIRK*)
It followed presidential security breaches that included a fence-jumper bursting into the White House on Sept. 19 and an armed ex-convict riding in an elevator with Obama in Atlanta a few days before that.
* SERIOUSLY! OBAMA HAS BROKEN THE SECRET SERVICE!
The unidentified man said he was Representative Donald Payne Jr., a Democrat from New Jersey, the official said.
* AND WAS HE ASKED TO SHOW ID? (AND IF THE ANSWER IS YES... DID HE PRESENT FAKE ID?) (AND IF THE ANSWER IS "NO"... HAS ANYONE BEEN FIRED AS OF YET?)
One member of the White House staff...
* THE WHITE HOUSE STAFF... (NOT THE SECRET SERVICE...???)
...determined that the man wasn’t Payne, and another asked him to leave, the official said.
* ASKED... HIM... TO... LEAVE...?!?!
* ASKED... HIM... TO... LEAVE...?!?!
He did so without incident and wasn’t detained.
* WASN'T DETAINED...?!?!?!?!?!?!?!?!
The Secret Service did its job by screening everyone who attended the dinner, including the man, said Brian Leary, an agency spokesman. “This guy went through security, fully screened,” he said.
* HOW? WITH SOMEONE? UNDER SOMEONE'S AUTHORITY/ORDER? UNDER WHOSE AUTHORITY/ORDER? WERE POLICIES VIOLATED? IF SO WHO "AUTHORIZED" THE VIOLATION AND WHO IN THE SECRET SERVICE "ACCEPTED" SUCH AUTHORIZATION?
* FOLKS... THIS IS ABSURD! THIS IS INSANE!
Neither the White House official, nor another administration official aware of the incident, could say how close the man got to the president or First Lady Michelle Obama, who was also in the vicinity.
Payne’s chief of staff, LaVerne Alexander, said yesterday that she had not been informed of the incident.
(*JUST SHAKING MY HEAD*)
* TWO-PARTER... (Part 1 of 2)
http://cnsnews.com/mrctv-blog/craig-bannister/judge-irs-obamacare-rule-arbitrary-capricious-and-abuse-discretion
In his decision...
http://www.ok.gov/oag/documents/Oklahoma%20v%20Burwell%20ruling.pdf
U.S. District Judge Ronald White concluded Tuesday that the IRS rule altering the ObamaCare law and providing billions in subsidies is "arbitrary, capricious and abuse of discretion."
"The court holds that the IRS rule is arbitrary, capricious, and abuse of discretion or otherwise not in accordance with law, pursuant to 5 U.S.C.706(2)(A), in excess of summary jurisdiction, authority or limitation, or short of statutory right, pursuant to 5 U.S.C. 706(2)(C), or otherwise is an invalidation of the ACA [Affordable Care Act], and is hereby vacated."
* UNFORTUNATELY...
"The court's order of vacatur is stayed, however, pending resolution of any appeal from this order."
* AND WHEN... IF... IT GETS TO THE SUPREME COURT... WE'RE TALKING THE SAME PLAYERS - INCLUDING ROBERTS - WHO DECIDED THAT THE CONSTITUTION IS NULL AND VOID AS IT APPLIES TO OBAMACARE.
(*SHRUG*)
* ANYWAY... HERE'S WHAT WE'RE TALKING ABOUT:
* TO BE CONTINUED...
* CONCLUDING... (Part 2 of 2)
In September 2012, Oklahoma was the first of several states to challenge the legality of an IRS rule that caused billions in subsidies to be paid out, despite Congress having never authorized those payments.
Oklahoma Attorney General Scott Pruitt hailed the state's victory in its lawsuit challenging the implementation of the Affordable Care Act: "Today's ruling is a consequential victory for the rule of law. The administration and its bureaucrats in the IRS handed out billions in illegal tax credits and subsidies and vastly expanded the reach of the health care law because they didn't like the way Congress wrote the Affordable Care Act. That's not how our system of government works."
* ACTUALLY... IT IS HOW OUR GOVERNMENT WORKS. THIS DECISION WILL HAVE NO IMPACT ON THE ACTUAL POLICIES WHICH WILL CONTINUE TO BE PURSUED BY THE OBAMAITES.
"The Obama administration created this problem and rather than having an agency like the IRS rewrite a law it didn't like, the administration should have done the right thing and worked with Congress to amend the law. Oklahoma was the first to challenge the administration's actions and today's ruling vindicates what we recognized early on and that is the administration can't rewrite the Affordable Care Act by executive fiat."
* TODAY'S RULING... HAS BEEN STAYED BY THE VERY JUDGE WHO MADE THE RULING!
(*SIGH*)
Pruitt said the victory is just the beginning, because he fully expects the case to, ultimately, be decided by the Supreme Court: "Today's ruling is a huge win for Oklahoma, but it's just a first step. Since Oklahoma filed the first lawsuit in 2012, others have followed our lead and made similar claims in other jurisdictions. It's likely this issue will ultimately be decided by the U.S. Supreme Court. We look forward to making our case and continuing the effort to hold federal agencies accountable to their duty to enforce the laws passed by Congress."
* TWO WORDS: "JOHN ROBERTS."
Oklahoma Sen. Jim Inhofe (R) also praised Judge White's decision, saying that the Obama Administration is trying to fix a legally-dubious law using waivers and exemptions: "Today's decision is a reminder that the President's broken promises of affordable, accessible health care are the result of broken policy. The Obama Administration has tried to make the law work with waivers and exemptions, but the courts continue to confront the legality of this legislation that was rushed through a Democrat-controlled Congress. While it will undoubtedly take time for Oklahoma's case to play out in the federal court system, I am confident in Attorney General Scott Pruitt and that our state's argument will prevail."
* WHY WOULD YOU BE COMPETENT? OBAMA IS PRESIDENT. HE WILL BE FOR THE NEXT TWO YEARS. IF THERE'S A SUPREME COURT VACANCY OBAMA GETS TO MAKE THE APPOINTMENT. IF THE PLAYERS REMAIN THE SAME... WE'RE LEFT WITH THE SAME ROBERTS COURT THAT UPHELD OBAMACARE AGAINST THE CLEAR LANGUAGE AND INTENT OF OUR FOUNDERS.
Tuesday's decision is the latest in a wave of court losses for ObamaCare.
* AND YET OBAMACARE MARCHES ON...
Currently, over a hundred lawsuits have been filed against ObamaCare - and ObamaCare has lost 91% of the cases decided to-date, (71 losses out of 78 decisions), according to the latest tally by The Beckett Fund.
* THUS MY OBSERVATION THAT UNDER OBAMA THE U.S. IS VIRTUALLY A DICTATORSHIP. THE RULE OF LAW REPLACED BY THE RULE OF A "KING."
http://www.zerohedge.com/news/2014-10-03/hiring-grandparents-only-230k-september-were-added-55-69-age-group-10k-lost-prime-25
The further one digs into today's "blockbuster" jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the U.S. workforce is bleak.
In fact, with the age of the median employed male now in their mid-40's, the U.S. workforce has never been older.
Case in point: the September data confirmed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group... which comprised the vast majority of the job additions in the month at a whopping 230K.
* WHAT'S ALL THAT ABOUT...??? WHAT JOBS ARE THEY TAKING - AND WHO ARE THEY TAKING THE JOBS FROM?
What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs.
* THEY... LOST... 10,000... JOBS...
* SHIT! (JUST... "SHIT!")
Of course, don't expect any of this to be mentioned on any financial entertainment outlets: it would spoil the party of today's "surging" jobs day.
(Then again in retospect, it has never been a stronger labor market. Well, if you are 55 and over that is, the age group that just hit a record 32.6 million in jobs.)
* MY GUESS? INFLATION (YOU KNOW... THE INFLATION THE GOVERNMENT INSISTS DOESN'T EXIST) IS FORCING RETIRED PEOPLE TO GO BACK TO WORK EVEN IF ONLY PART-TIME AND EVEN IF IN MENIAL JOBS SIMPLY IN ORDER TO KEEP UP WITH RISING FOOD PRICES.
Some addition detail:
Here is the breakdown of job gains by all age groups since the start of the depression in December 2007: 5.5 million jobs "gained" in the 55-69 age group. What about the core, 25-54 demographic? Negative 2.04 million.
* NEGATIVE... 2.04... MILLION...
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