Infinite Unknown

- The US Has Finally Done It: Mexican Immigrants Become Emigrants (ZeroHedge, April 24, 2012):

You know its bad when…the net flow of Mexicans into the US has fallen so much that there is a high probability that it is now in reverse ending around forty years of inward migration. The Pew Hispanic Center notes that the standstill – after more than 12 million current immigrants have entered the US – more than half of whom are illegal – appears to be the result of many factors including a weakened US job and construction market, tougher border enforcement, a rise in deportations, growing dangers associated with border crossing, a long-term decline in Mexico’s birth rate, and changing (read perhaps more opportunistic) economic conditions in Mexico (especially if you work at WalMex). This sharp downward trend in net migration has led to the first significant decrease in at least two decades in the number of unauthorized Mexican immigrants living in the U.S. – to 6.1 million in 2011, down from a peak of nearly 7 million in 2007. In the five years from 2005 to 2010, about 1.4m Mexicans immigrated to the US – exactly the same number of Mexican immigrants and their US-born children who quit the US and moved back or were deported to Mexico. By contrast, in the previous five years to 2000 some 3m Mexicans came to the US and fewer than 700,000 left it. It will be interesting to see the spin that the Obama and Romney camps put on this hot-button topic as the ‘Dream Act’ turns into a nightmare and hardline anti-illegal immigration stances become, well, less relevant as Mexicans become Mexican’ts.

Among the report’s key findings: Continue reading »

Tags: Barack Obama, Collapse, Depression, Economy, Global News, Great Depression, Mexico, Society, U.S., Unemployment

- For first time since Depression, more Mexicans leave U.S. than ente (Washington Post, April 24, 2012):

Tags: Barack Obama, Collapse, Depression, Economy, Global News, Great Depression, Mexico, Society, U.S., Unemployment

This video is from March 2011 and things got a lot worse since then.

Here is why the unemployment rate ‘drops’:

- Unemployment Rate Drops To 8.2% For One Simple Reason: The Number Of People Not In The Labor Force Is Back To All Time Highs: 87,897,000

‘It will be years before we get back to 7.5 million  jobs lost in the great recession.’

Oh, really?

- US Needs To Generate 262K Jobs Each Month To Get Back To Breakeven

This is the Greatest Depression.

Prepare for the greatest financial collapse in history.

YouTube Added: 06.03.2011

Description:

For some children, socializing and learning are being cruelly complicated by homelessness, as Scott Pelley reports from Florida, where school buses now stop at motels for children who’ve lost their homes.

Tags: Barack Obama, Children, Collapse, Economy, Global News, Government, Obama administration, Politics, Society, U.S., Unemployment

- Not your father’s IBM (Cringely, April 18, 2012):

This is my promised column about IBM — the first of several on the topic, all to be delivered this week.  The last time I wrote at length about Big Blue was in 2007.  I have been asked by readers many times to revisit the subject, something I haven’t wanted to do because it is such a downer. Writing the last time I hoped the situation, once revealed, would improve. But it hasn’t. And so, five years later, I turn to IBM again. The direct impetus for this column is IBM’s internal plan to grow earnings-per-share (EPS) to $20 by 2015. The primary method for accomplishing this feat, according to the plan, will be by reducing US employee head count by 78 percent in that time frame.

Continue reading »

Tags: Economy, Global News, IBM, Technology, U.S., Unemployment

See also:

- US Needs To Generate 262K Jobs Each Month To Get Back To Breakeven

- NFP Big Miss: 120K, Expectations 205K, Unemployment 8.2%, “Not In Labor Force” At New All Time High (ZeroHedge, April 7, 2012):

March NFP big miss at just 120K. Unemployment rate declines from 8.3% to 8.2%. Futures slide, for at least a few minutes before the NEW QE TM rumor starts spreading. The household survey actually posted a decline in March from 142,065 to 142,034. Considering Birth Death added 90K to the NSA number, the actual number was almost unchanged. And as always, as we predicted when Goldman hiked its NFP forecast yesterday from 175K to 200K saying “if Goldman’s recent predictive track record is any indication, tomorrow’s NFP will be a disaster”, Goldie once again skewers everyone. Finally, Joe LaVorgna’s +250,000 forecast was just 100% off… as usual.

The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000.

Birth Death:

Tags: Economy, Global News, Society, Unemployment

- US Needs To Generate 262K Jobs Each Month To Get Back To Breakeven (ZeroHedge, April 6, 2012):

This is the latest tally: since the start of the Second Great Depression, the US has lost a total of 5.2 million nonfarm payroll jobs, beginning with 138 million jobs in December 2007, and printing at 132.8 million as of 90 minutes ago. So far so good. The problem, however is that the denominator in the equation is not fixed, and as everyone knows the US labor force, despite the ridiculous BLS data fudging, is growing in line with population, albeit at a slower pace. According to all non-partisan budget forecasters, each month the labor force should be adding 90,000 people. Which in turn means that since December 2007, the labor force has really grown by 4.6 million. Adding these two together leads to a 10 million job deficit. So what has to happen for these 10 million to get promptly put back into jobs, and for America to get back to the ~5% unemployment rate it boasted just as the credit bubble peaked? Nothing too crazy: the country just has to create 262,000 jobs every month for the remainder of Obama’s first, and now, by the looks of it, second term too. We are quite confident he can handle it.

(Click on image to enlarge.)

Tags: Barack Obama, Economy, Global News, Government, Obama administration, Politics, Society, U.S., Unemployment

- You Ain’t Seen Nothing Yet – Part Two (ZeroHedge, April 3, 2012)

See also:

- You Ain’t Seen Nothing Yet – Part One (ZeroHedge, April 2, 2012)

Tags: Banking, Barack Obama, Ben Bernanke, Bonds, Collapse, Debt, Depression, Economy, Fed, Federal Reserve, GDP, Global News, Goldman Sachs, Government, Great Depression, Insider Trading, Meltdown, Obama administration, Politics, Society, U.S., Unemployment

- 10 ‘Facts’ That Should Worry Europe’s Equity ‘Fiction’ (ZeroHedge, April 2, 2012)

Tags: Banking, Bonds, Credit Suisse, ECB, Economy, EU, Europe, France, GDP, Global News, Government, Greece, Holland, Ireland, Italy, Politics, Portugal, Society, Spain, Unemployment

- Europe’s Scariest Chart Just Got Scarier (ZeroHedge, Mar 10, 2012):

The last time we plotted European youth unemployment in what was dubbed “Europe’s scariest chart” we were surprised to discover that when it comes to “Arab Spring inspiring” youth unemployment, Spain was actually worse off than even (now officially broke) Greece, whose young adult unemployment at the time was only just better compared to that… of the United States. Luckily, following the latest economic (yes, we laughed too) update from Greece, it is safe to say that things are back to normal, as Greek youth unemployment is officially the second one in Europe after Spain to surpass 50%. In other words, Europe’s scariest chart just got even scarier.

And so while the Greek economy is in tatters, following another downward revision to its GDP as reported last week, this time dragging Q4 GDP from -7.0% to -7.5%, that’s only the beginning, and it now appears that a terminal collapse of not just the Greek financial sector, but its society as well, has commenced, as the number of people unemployed in the 11 million person country is now 41% greater than its was a year ago. From Athens News:

The average unemployment rate for 2011 jumped to 17.3 percent from 12.5 percent in the previous year, according to the figures, which are not adjusted for seasonal factors.

Youth were particularly hit. For the first time on record, more people between 15-24 years were without a job than with one. Unemployment in that age group rose to 51.1 percent, twice as high as three years ago.

Continue reading »

Tags: Economy, EU, Europe, GDP, Global News, Government, Greece, IMF, Politics, Spain, Unemployment

- Only 54% Of Young Adults In America Have A Job (ZeroHedge, Feb. 29, 2012):

A month ago, Zero Hedge readers were stunned to learn that unemployment among Europe’s young adults has exploded as a result of the European financial crisis, and peaking anywhere between 46% in the case of Greece all they way to 51% for Spain. Which makes us wonder what the reaction will be to the discovery that when it comes to young adults (18-24) in the US, the employment rate is just barely above half, or 54%, which just happens to be the lowest in 64 years, and 7% worse than when Obama took office promising a whole lot of change 3 years ago.

And while technically this means 46% are unemployed, or the same percentage as in Greece, the US ratio, which comes from Pew, shows the ratio as a % of the total population: a very sensitive topic now that every month we see another 250,000 drop off mysteriously from the total labor force. However, unlike those on the trailing age end, young adults by definition are the labor force in their age group demographic, so it would be difficult to explain away this horrendous number by claiming that ever more 24 year olds are retiring. Although, yes, we agree that some may be dropping out of the labor force in order to go to college, incidentally the locus of the latest credit bubble, where they meet a fate worse even than secular unemployment: they become debt slaves of the Federal System, with non-dischargable debt at that, which even assuming they can get a job would take ages to pay back!

But wait: there’s more – of all age groups, this is the one that has actually seen its wages drop the most under the Obama administration.

So not only are they unemployed, young adults are at least poor.

Net result: double the change, zero the hope.

Tags: Barack Obama, Economy, Global News, Government, Obama administration, Politics, U.S., Unemployment