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I no longer care what the labor participation rate is. People who are supposedly not looking for work because they can't find any jobs are going to wait in line tomorrow for the opportunity to throw away their money on lottery tickets.
The U-6 number is what we should look at and not U-3. U-3 is the unemployment number, U-6 is the number of unemployed, the part-timer who wants full time employment, and the discouraged worker who wouldn't dare applying for employment.
There is no "should" be looking at any particular number, they all measure different things. There is nothing wrong with U-6 but it is a broader measure but comes with the problem of diluting the basic focus of people looking for work who can't find it. If I retired from being a software developer six months ago to travel the world but know that a great offer would draw me back for work I'm part of U-6 unemployed, if someone else quite their job as a bookkeeper nine months ago to go to school to become a software developer but would certainly accept a dev job if it came they are U-6 unemployed too. No measure is perfect, and using one or the other isn't better nor does it make BLS deceptive.
Quote:
Originally Posted by NewbieHere
The U-6 number is pre-recession level. So basically nothing gain with all this easy money.
The easy money started when the U-6 shot up right along with U-3, the gain was reversing that trend to bring U-6 back in line with historical norms.
We have been in recession, depression actualy the entire time since 2008 and the Fed has been masking this fact with zero interest rates and QE1, QE2, QE3, printing money and devaluating our currency.
Devaluing our currency? What are you stuck in some RonPaul.com message board time warp from 2009? Even those tools have moved on from the "QE = devalue dollar" chant. Deflation is the current scary word, get with the program man.
Quote:
Originally Posted by C2BP
The reckless and irresponsible debtors got a break with lower interest rates and in reality those people should be bankrupt by now. The responsible ones who save and live without speculations have been destroyed
Plenty of debtors who are quite responsible with personal finance have benefited from low rates (including millions of American families with mortgages and auto loans), and savers haven't been "destroyed" that pegs the hyperbole meter to the point of smoke coming out.
Regardless your thread premise is ridiculous. A long string of good job reports are somehow ignored as no evidence of a recovery from recession, in order to finally jump on one that isn't as high (but still a net gain) to declare it proof the entire recovery was a lie and illusion. How does that work, if May is a huge gain do we start threads saying it is proof the recovery is underway?
"Devaluing our currency? What are you stuck in some RonPaul.com message board time warp from 2009?"
Not 2009, lieuqang, the 18th century. In 1916 you could buy a cow with a $20 gold piece. Today you can buy a cow with that same $20 gold piece, but a $20 FRN does not get you very far down the meat counter when hamburg costs $5 a pound.
Inflation is a tax and it is absolutely intentional. After WWI the Germans hung bankers from lamp posts outside their banks just as farmers hang dead crows form their fences as a warning to other crows. It works.
Go get a DVD of "The Big Short". It is a very good film and documents what happens when banks either have no clue how economics really works or deliberately commit fraud such as the lead-up to the 2008 "housing crisis".
In the COMEX in London in 2007, there was just over one claim on each ounce of gold in the vault. It went to eight claimants per ounce in 2008. Then it went to 55 claims for each ounce. Massive buying by COMEX brought it down. In April, 2016 it went to 770 claimants for each ounce of gold in London. Those old German bankers remembered. They took their gold back to Germany. Gold went to $1,800 an ounce in the USA. Some people foolishly sold theirs.
Meanwhile, the next crew of clueless and brand new MBAs is running the banks. There are $770 trillion dollars of derivatives in circulation that the banks are showing as "assets" on their ledgers while we have 95,000,000 American citizens between 18 and 65 not working in our country. These are not "Ron Paul numbers". They are simple facts.
I no longer care what the labor participation rate is. People who are supposedly not looking for work because they can't find any jobs are going to wait in line tomorrow for the opportunity to throw away their money on lottery tickets.
Quite a bit of the non-participating labor force spends their days on this forum lamenting the lack of opportunity and how the action or inaction of the Fed is keeping them from realizing their dream.
I was born before WWII. I work every day. This morning at 8:30 I put a property under contract with a quarter mile of road frontage and 1800 feet of lake frontage, a 2 bedroom home and some 40 acres of old growth forest. At 11:30 I list 50 acres with power and phone in Prentiss, Maine. I wish I had a dozen such properties. America wants 25 or more acres with a home, a patch of woods, some field to grow vegetables and a water source, preferably secluded on a dead end road. Where would you like to be during George Soros' and Donald Trump's "summer of Rage". I remember 1968. The Democrats sure picked an appropriate city for their convention this year.
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