atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#4698: Well, the economy is still in the crapper

16 Signs That The Economy Has Stalled Out And The Next Economic Downturn Is Here goes the headline.

Point #4 is the most telling one:
#4 According to numbers that were just released by the Bureau of Labor Statistics, in one out of every five American families nobody has a job. So how in the world can the “unemployment rate” be sitting at “5.5 percent” when everyone is unemployed in 20 percent of all families in the United States? It doesn’t make any sense.
This assumes, of course, that the unemployment rate is being gamed by the Bureau of Labor Statistics to make it more favorable for the federal government. After all, if U3 isn't actually 5.5%, but higher, it means that everything the government has been doing is not working--and that might mean having to stop spending all that money that they don't have.

Much easier just to fudge the numbers.

Then these:
#11 Retail sales in the U.S. have not dropped this rapidly since the last recession.

#12 Wholesale sales in the U.S. have not dropped this rapidly since the last recession.

#13 Factory orders in the U.S. have not dropped this rapidly since the last recession.

#14 Credit requests are being declined at a rate that we haven’t seen since the last recession.

#15 U.S. export growth has gone negative for the first time since the last recession.
Which is "the last recession"? I'm assuming they mean 2009, but that was the beginning of the depression we're mired in. The recession never ended. Government just gamed the numbers.

Meanwhile, in my own personal experience retail has fallen on its face since the beginning of the month. My own performance was pretty good, but I've hardly sold anything in the last two weeks because we've had almost no paying traffic. Plenty of folks with existing tech support or protection plans have been coming in, but most of the rest have not been buying services.

Today I spent about a third of my shift doing nothing because there were no clients.

And by the way, how do the "factory orders" and "wholesale sales" bits square with the (anomalous, point #2 at the link) inventory build that saved GDP from being deeply negative?

There's a lot of contradiction in the economic statistics, and much of that is due to the fact that most of the numbers are complete shit, stuff that's made up to meet political ends rather than reflect reality. Unemployment is not 5.5%, and the economy has been in a depression since 2008 at least.

This cartoon explains it all.

Companies like Apple are part of the problem, doing all their fab work in foreign countries. Of course they do that stuff in China because the environmental laws are so lax there; you can't just dump a vat of PCB etchant or ammonium persulfate or used photoresist or whatever else toxic waste your fab generates; it's vastly cheaper to make a circuit board in China than it is to make one in the United States, even when you factor in the shipping costs.

American industrial policy consists of exactly two things: "NOT IN MY BACK YARD" (NIMBY) and "You'd better employ union labor if you know what's good for you!" The government is extremely hostile to manufacturing, especially if that manufacturing is dirty.

Well, it's not as if the aristocracy has to worry about little things like employment, because they, after all, have jobs, right?

* * *

No one cares about the Palestinians outside of Israel. Nope! If a Palestinian in Gaza starves to death it's a world-shattering tradgedy, but if a Palestinian woman in Syria starves to death, no one cares.

It's not about the Palestinians, you see; it's about hurting Israel.

* * *

Today, when I left for work, I was in pretty fine fettle. I feel a lot better now than I did when I left.

Looks like I'm not going to get the grass cut today, though. If the forecast holds up I can do it tomorrow, though, and that'll do, I think.
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