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“The Rebels Attacked Our Camp… and Started Shooting at Our Helicopter” / Bill Bonner / July 23, 2014

Rebel Attack in the Congo

“The rebels attacked our camp. We had to make a run for it. The government troops, who were supposed to be guarding us, ran too.”

“‘Musungu! Musungu!’ I heard them yelling. A ‘musungu’ is a white person. They [...]

Job Hiring Far Below Pre-Lehman Levels As Yellen’s Favorite Labor Metric Redlining / by Tyler Durden / 07/08/2014 10:32

There was some good news in the JOLTS report released earlier today, mostly in the form of the Job Openings category which surged from 4,464K in April to 4.635K in May, well above the 4350K expected and the highest print since 2007 (granted the [...]

92 Million Americans Unemployed As Many As Millions Illegal Immigrants Heading For Us Border. Guess What I Was Just Told? The Economy Is Getting Better. WTF? / July 4th, 2014

Record Number of Americans Not in Labor Force in June

( – The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the [...]

Only Half Of Office Space Vacated Since Lehman Has Been Reoccupied / by Tyler Durden / 07/01/2014 14:19

One would think that with the economy, allegedly, growing at above-trend rates as Goldman has wagered for the second time in 4 years (the first time Hatzius was dead wrong), with jobs being added at what the BLS would have the market believe is [...]

There is Work After Death / Pater Tenebrarum / July 1, 2014

Dropping Dead from Stress

People die from all sorts of things, often quite unexpectedly. Shoot-outs in the middle of a ceasefire in the Donbass, crucifixion or beheading by the “Islamic State” in some desert backwater in Iraq, or that widely underestimated killer known as “falling [...]

Pending Home Sales Jump In May; Drop YoY For 8th Month In A Row / by Tyler Durden / 06/30/2014 10:10

Pending home sales surged by 6.1% MoM in May; this is the largest jump since April 2010 (when first-time buyers scrambled to sign contracts before tax credits expired. However, exuberant spike aside, this is the 8th month in a row of a year-over-year drop in home [...]

The Austerity Diaries: If You Don’t Have a Job, Make One Up / Daisy Luther / June 13, 2014

With unemployment rates skyrocketing, going out and finding a new job can be nigh on to impossible these days. This is only going to get trickier as the government continues to force businesses to increase the minimum wage. Workloads that used to provide employment to [...]

The High Cost of Minimum Wages / by Benjamin M. Wiegold / Friday, May 30, 2014

In Switzerland on May 18 there was a vote to establish a minimum wage rate at a world record $25 an hour: the vote was rejected overwhelmingly as an estimated 76 percent voted against it.

As USA Today reported, [...]

Debt Rattle May 29 2014: The New Normal is Negative / by Raúl Ilargi Meijer / May 29, 2014

No, the nonsense will not stop, and neither will the torture. At least 5 years into the alleged recovery, US GDP contracted by -1% in Q1 2014, down from last month’s estimate of a 0.1% growth. Why? It’s still the weather, say the “experts”. But [...]

Spot The Odd Job Market Out / by Tyler Durden / 05/29/2014 14:14

When the BLS reports the May job number in one week’s time, it will mark a historic threshold: this will be the report when the total number of jobs lost during the financial crisis at the national level is finally recovered, and the US [...]

Fun Fact: Shale Strippers Make Up To $2,500 Per Night / by Tyler Durden on 05/26/2014 14:31

We have discussed the ‘downside’ of America’s “black gold” rush and the town of Williston, North Dakota is the poster child for the costs and benefits of this exuberance. But, as The BBC reports, there is some silver lining for those willing to deal…”Strippers can earn $2,500 [...]

Amazon to Increase Robots from 1,400 to 10,000 by End of 2014; Day in the Life of a Robot / Mike “Mish” Shedlock / Friday, May 23, 2014 2:32 AM

Have a job moving stuff or filling orders in a warehouse? If so, your job is in jeopardy.

Please consider Bezos expects 10,000 robots at Amazon warehouses by 2015 plans to aggressively expand its use of robots at [...]

This Is Why Hewlett Packard Just Announced Another 16,000 Job Cuts / by Tyler Durden on 05/22/2014 16:26

The biggest scandal in today’s release of Hewlett Packard Q2 earnings was not that it hit 30 minutes prematurely, catching algos unaware and unable to BTFD when the stock tumbled on what was a revenue miss and 1% decline from last year, nor that the company guided [...]

Why Are Boomers Cashing Out In Droves? Because “Everyone Understands The Market Went Crazy Last Year” / by Tyler Durden on 05/22/2014 15:56

“This issue of participation in the labor force is a highly contentious one,” notes RDG’s Jon Ryding and has been extensively discussed here as some people leave the labor pool and retire after giving up on the job search (do people really want to work past [...]

56% Of Recent Black College Graduates Get A Job That Does Not Require A College Degree, CEPR Finds / by Tyler Durden on 05/21/2014 17:05 -0400

With everyone focused on what is undisputedly the next mega credit bubble in the form of student loans, which in the most recent quarter hit a record high of over $1.1 trillion, the topic of college education, and specifically its utility, has gotten much press coverage [...]

How Bureaucrats Undermine Everything / By Martin Armstrong / May 21, 2014

Bureaucrats are truly the plague of society. These are typically the people afraid to actually get a job in the real world for they would have to be judged upon their skills. They more often than not like the safe steady job where they cannot be [...]

Don’t Blame “Boomers” For Not Retiring / By Lance Roberts / 14 May 2014

Every month when the employment data is released there is an almost immediate debate that erupts over the Labor Force Participation Rate. Like any good boxing match, both sides take to their corners. Defenders argue the decline is primarily due to retiring “baby boomers” and demographic [...]

Europe’s Own Revolving Door: JPMorgan Hires Italy’s Former Finance Minister Grilli / by Tyler Durden / 05/12/2014 06:51 -0400

After a job well done by a public servant, and by a job well done we of course mean facilitating the transfer of middle class, taxpayer wealth to private bank accounts, it is customary to reward them with a comfortable job in the [...]

Sequester Death Toll: One Job / By Matt Purple / May 9, 2014

At the core of the dysfunction in Washington is this dilemma: Government must approve spending cuts, yet government has no interest in approving spending cuts. Federal employees are quite content with their lifestyles—46 percent more in retirement benefits than the private sector, cozy job security—and don’t [...]

A Red-Flashing JOLT: Manufacturing Job Openings Signal Recession Dead Ahead / by Tyler Durden on 05/09/2014 13:55 -0400

Contrary to the April nonfarm payroll data, today’s JOLTS report was simply ugly. First, the total number of Job openings of 4014K, missed significantly the expected number of 4125K, dropping 111K last month, and the worst since December’s 212K tumble when as everyone recalls, the weather [...]

Among The Perks For Amazon’s Part-Time Workers: Being Homeless / By Tyler Durden on 05/06/2014 18:47 -0400

Judging by the narrative promoted after last Friday’s idiotically connived jobs report, any job is a good job… however, as The Guardian reports, that does not include a job working for Quarter after quarter, we highlight the growth in Amazon employees (and death-cross-like plunge in [...]

The Number Of Working Age Americans Without A Job Has Risen By 27 MILLION Since 2000 / By Michael Snyder / May 4th, 2014

Did you know that there are nearly102 millionworking age Americans that do not have a job right now? And20 percent of all families in the United States do not have a single member that is employed. So how in the world can the government [...]

Almost 3 Times As Many People DROPPED OUT of Labor Force As Joined It / WashingtonsBlog / May 3, 2014

“Rarely Does A Monthly Report On The United States Job Market Look So Terrific On The Surface While Being So Disappointing Underneath”

The New York Times’ Neil Irwin gives a balanced view of the new jobs numbers:

Rarely does a monthly report on the United States job market [...]

US PMI Job Creation Slowest Since January, Says “Growth Rate Of The Economy Has Weakened Since Late Last Year” / by Tyler Durden / 05/01/2014 09:53 -0400

The Markit US Manufacturing PMI printed at an expected 55.4 – flat from March – but under the surface were some troubling trends. The pace of expansion in job creation was the slowest since January (but but but, we are in the post-weather period now?) and [...]

Minimum Wage Act Defeated – Democrats Lose Their Minds / By Breanna Deutsch / April 30, 2014

A Democratic bill to raise the federal minimum wage failed to pass the Senate Wednesday, falling six votes short of the necessary 60 to avoid a filibuster.

Iowa Democratic Sen.Tom Harkin’s Fair Minimum Wage Act would have forced employers to pay their workers at least $10.10 [...]

The Truth Behind IBM’s Revenues / By Tyler Durden on 04/29/2014 17:29 -0400

When times are tough – for example when this quarter’s revenue is the lowest for IBM since the first quarter of… 2009, it seems Big Blue has decided no job is too small and no job unworthy of utilizing the brain… presenting – with [...]

The Real Unemployment Rate: In 20% Of American Families, EVERYONE Is Unemployed / By Michael Snyder / April 28th, 2014

According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United [...]

Dallas Fed Surges To 7-Month Highs But Job Outlook Tumbles To Lowest In 2014 / by Tyler Durden / 04/28/2014 10:41 -0400

The Dallas Fed manufacturing survey beat expectations by the most since September 2013 and rose to near its highest since Feb 2012. Most of the ‘current’ sub-indices rose thogh prices paid tumbled (oddly to its lowest since August) and wages stagnated (as new orders surged to [...]

New Prime Minister of France: It All Hangs Together Or We’ll Hang Together (Warning: Biting Sarcasm) / By Hilary Barnes, Euro Politico Twitting / April 18, 2014 at 1:50PM

Manuel Valls, recently appointed Prime Minister of France, who has discreetly hinted that he hopes one day to be regarded alongside the likes of General de Gaulle as “the man who saved France” from itself, has found a new and fascinating [...]

Grant Williams: All Markets Are Rigged, Maybe Gold Most of All / Ed Steer / April 15, 2014


The gold price rallied sharply at the 6 p.m. Sunday evening open in New York—and ran into short sellers of last resort almost immediately. Volume wasn’t overly heavy, but it was enough to do the job. From there the price didn’t [...]