Is the collapse of China’s economy beginning?

I have written and posted videos of the situation of China’s economy.

Now, it seems that the real estate bubble in China is finally starting to pop.

Gordon Chang over at Forbes reports the following:

Nothing is going right for Hangzhou at this moment.  Walmart will be closing its Zhaohui store in that city on April 23 as a part of its overall plan to dump marginal locations—about 9% of the total—in China.

Thanks to the world’s largest retailer, another large block of space in Hangzhou, the capital of Zhejiang province, will go on the market at a time when there is generally too much supply.  The problem is especially pronounced in the city’s premium office market. Hangzhou’s Grade A office buildings at the end of 2013 had, according to Jones Lang LaSalle, an average occupancy rate of 30%.

The real weakness, however, is Hangzhou’s residential sector.  The cause is simple: massive overbuilding. Sara Hsu of the State University of New York at New Paltz writes that Hangzhou faces “burgeoning swaths of empty apartment units.”

Hangzhou’s market has not yet collapsed.  There are still secondary sales, for instance.  Singapore’s Straits Timesreports Allen Zhao, a businessman, has been looking to sell his two-bedroom flat in Hangzhou for 2 million yuan.  His neighbor just let go a similar unit for 1.7 million.  If Zhao also sells for that amount, he will make a profit, but he will be disappointed.  “That is not much more than the price I paid in 2012,” Zhao told the paper.  “Now I’m regretting not selling earlier—more bad news about the property market keeps coming in every day.

[...]

The People’s Republic in the “reform era” has not suffered a nationwide property crash.  Analysts say the problems in Hangzhou are “regional,” but now fundamentals and market sentiment either are or will be pushing markets down across the People’s Republic.

“The banking system and the shadow banking system are becoming concerned about exposure,” says David Cui of Bank of AmericaBAC +1.46%.  “Once people refuse to provide credit to developers, their balance sheets will be under pressure, forcing them to cut prices.  Once enough of them cut prices, fewer people would buy because most people buy property only when they think the price is going up.  If this persists, it will turn into a vicious loop.”

Premier Li Keqiang has a few tools at his disposal, but they look insufficient to stop a general collapse of property prices across the country.  The problems, deferred from late 2008 with massive state spending, have simply become too large.  And we must remember that he works inside a complex, collective political system that is generally unable to meet challenges swiftly.

But that does not matter.  There is little any leader can do.  Collapses occur when people lose confidence.  That is now happening in China.

Whether anyone wants to admit it or not; China’s economy is directly tied to ours. If their economy tanks, so will ours. You think 2008 was bad? China’s collapse will trigger a Worldwide panic and a massive, and I mean MASSIVE Worldwide economic meltdown that has never been seen in the history of mankind. As of 2012, we were borrowing 3.4 Million from China, a day.

Could you imagine, if China saw that things were getting rough and decided to sell off all of their bonds of ours that they hold? The so-called “experts” say that it would not happen; personally, I would not want to tempt fate.

There is but one solution to this — well, actually a few. We need to do away with these free trade agreements and put back into place tariffs on all imports from overseas. Then penalize any and all businesses who continue to manufacture products overseas. Then we need to elect a President that will stand up to the Federal Reserve and order them under full congressional oversight; and then order them to cease all printing of money; until further notice.  This would help pay down our debt and fund our social safety net.

Then we need to do away with this idiotic progressive tax system that we have in this Country, which basically punishes those who are successful in business. We then need to replace it with a flat tax or a consumption tax system. This would free up the hands of entrepreneurs to create businesses and also create more jobs in this Country.

However, if what this report above that I quoted is true; we are not going to have time to do all of this. Because if China is about to crash; we are going to find ourselves in massive rock and a hard place. We are going to have massive social safety net and no way to pay the people in the net. For the record, Patrick J. Buchanan and Ron Paul; and some very other well known Conservatives have been warning that this was going to happen. Now, it seems that their warnings are about to come true.

I believe it would be a good time, for all of God’s children to pray; because things are about to get interesting….very interesting.

Some good economic news for a change

The economy is recovering, albeit at a very slow pace.

Here are two stories on the recovery:

Via Market Watch:

WASHINGTON (MarketWatch) — Private-sector employment picked up in November, as employers added 215,000 jobs, Automatic Data Processing Inc. reported Wednesday. Economists had forecast that private-sector employers added 178,000 jobs, up from an originally estimated gain of 130,000 jobs in October, according to a Dow Jones Newswires survey. On Wednesday ADP revised October’s gain to 184,000. Economists use ADP’s data to get a feeling for the U.S. Labor Department’s employment report, which will be released Friday and covers government jobs in addition to the private sector. Economists polled by MarketWatch expect the government’s report to show that nonfarm employment rose by 180,000 jobs in November, compared with an increase of 204,000 in October. Markets are searching jobs data this week for clues about when the Federal Reserve will deem the economy healthy enough to start paring its massive asset-purchase program, which officials crafted to stimulate growth by keeping downward pressure on long-term interest rates.

There are some, like on the neoconservative right, that would say that this is simply not enough. To that I say, it does not happen overnight. The economy can be destroyed in minutes; but it does take a long time for it to build back up. Obamacare aside, this is good news. I just wish the numbers were higher. 

And another via Market Watch:

WASHINGTON (MarketWatch) – The nation’s trade deficit fell 5.4% to $40.6 billion in October, as the U.S. exported more petroleum, soybeans and collectibles while buying foreign-made goods at a slower rate, the Commerce Department reported Wednesday. Economists polled by MarketWatch had projected the deficit would decline to $40.4 billion in October on a seasonally adjusted basis. Exports rose 1.8% to $192.7 billion. Imports climbed a smaller 0.4% to $233.3 billion, but that still marked the highest level since March 2012. American exports of petroleum jumped nearly 16% to lead the way. Exports of soybeans, which are down sharply so far this year, increased by nearly 22%. The U.S. also sold more artwork, gold and diamonds. On the other side of the ledger, the U.S. imported more crude oil, petroleum-based products, toys and pharmaceutical drugs. Over the past three months, the trade deficit has averaged $40.9 billion, little changed from $40.2 billion September and down just slightly compared to one year ago. In September, the trade gap was revised up to $43.0 billion from a preliminary reading of $41.8 billion.

As an American, as someone who is not too keen on globalism, this is very good news. The United States has the ability to produce its own goods, without relying on import, we just have not had the chance to do it. Now, if we could just stop relying on China for cheap electronics, we would be in very good shape.

Updated with Video: Republicans and Democrats on the hill stand against the Trans Pacific Partnership

Update: Here is video on the subject regarding a leak by Wikileaks on the text of this monstrous thing: (H/T Democracy Now)

For once there is something that the President is trying to get accomplished, that the Democrats and Republicans in Congress are actually standing against. For once, this is a very good thing.

This comes via Mother Jones:

The Obama administration is nearing the end of negotiations on the biggest free trade deal in US history, the Trans Pacific Partnership (TPP). The stakes are high: The pact affects the United States and 11 other countries, domestic policy areas ranging from intellectual property rights to product safety and environmental regulations, and $26 trillion in annual economic output. But in order to secure the deal, President Barack Obama says he wants Congress to grant him permission to sign the final trade agreement, which Congress has not yet seen, without congressional input. A coalition of about 174 conservative Republicans and liberal Democrats in the House signaled this week they would likely vote against giving those trade powers to the president.

The US trade representative Michael Froman and Obama want to finalize the TPP by the end of the year and are pushing Congress to pass legislation soon that grants the president something called fast-track authority, which would allow him to sign the final trade agreement without Congress making any amendments to the pact. If Obama gets what he wants, Congress may not even be able to read the final version of the massive trade deal in its entirety until after lawmakers have signed away their rights to influence it. At that point, the two chambers will only be allowed an up-or-down vote to implement the international pact into domestic law. The administration says fast-track authority will assure other countries that the deal the United States has committed to after three years of negotiations won’t be dismantled by American lawmakers who dislike some of the provisions. No major trade agreement has been finalized without it.

[...]

Many conservative Republicans—usually fans of free trade—feel the same way. “For two hundred years of our nation’s history, Congress led our nation’s trade policy,” Rep. Michele Bachmann (R-Minn.) and 22 Republicans in the House wrote in a letter sent to the president Tuesday. “However, recent presidents have seized Congress’ constitutional trade authority and also ‘diplomatically legislated’…using…’Fast Track.’”

“Conservatives have shown themselves to instinctively oppose anything coming out of the Obama White House. So their opposition is not surprising,” Adam Hersh, a trade expert at the liberal Center for American Progress, says in an email. But he adds that the Democratic opposition is new. “We’re seeing the culmination of dissatisfaction with persistent poor trading outcomes for the US economy” such as job outsourcing, he says, and the feeling that Congress has been “kept in the dark.

Rod Dreher, of whom I owe the hat tip to for reporting this story on his blog says:

Trust him? No. It’s not about Obama personally; Congress gave fast-track authority to Bill Clinton, and to George W. Bush. But the House Democrats who oppose this — and the overwhelming majority of the opponents are Dems — say. Establishment Republicans tend to support fast-track authority, but some Tea Partiers are standing with the Dems.

[....]

I’m willing to hear the counterarguments, but in general, I’m not in favor of giving this or any president the authority to approve something so enormous and consequential without Congress even seeing it. I could be wrong, but it seems that we’ve had enough trusting political and business elites always to operate in the best interests of the American people.

I feel the same way; this is not about Obama personally. However, it is about policies that undermine the sovereignty of the United States of America and literally it is about policies that put the screws to the American worker. We have enough “free trade” deals in this Country as it is; and they are quite literally draining this Country of its GDP. People want to know why there are no jobs in this Country? This is why! Because crony capitalists and the political elites who protect them; would rather manufacture products overseas on the cheap, instead of giving an American worker a living wage.

This is something that we have to stop and reverse at all costs, if we are ever going to be able to put America back as the manufacturing mecca that it once was.

From the “You gotta be kidding me” file: House just voted on 2 bills that would undercut new financial regulations

This one somehow snuck past me.

I happen to read on Populist Jim Hightower’s website about this one here and I went and looked it up and sure enough; there it was in black and white:

The story:

WASHINGTON –– To Wall Street, this town might seem like enemy territory. But even as federal regulators and prosecutors extract multibillion-dollar penalties from the nation’s biggest banks, Wall Street can rely on at least one ally here: the House of Representatives.

The House is scheduled to vote on two bills this week that would undercut new financial regulations and hand Wall Street a victory. The legislation has garnered broad bipartisan support in the House, even after lawmakers learned that Citigroup lobbyists helped write one of the bills, which would exempt a wide array of derivatives trading from new regulation.

The bills are part of a broader campaign in the House, among Republicans and business-friendly Democrats, to roll back elements of the 2010 Dodd-Frank Act, the most comprehensive regulatory overhaul since the Depression. Of 10 recent bills that alter Dodd-Frank or other financial regulation, six have passed the House this year. This week, if the House approves Citigroup’s legislation and another bill that would delay heightened standards for firms that offer investment advice to retirees, the tally would rise to eight.

Both the Treasury Department and consumer groups have urged lawmakers to reject the bills, warning that they could leave the nation vulnerable again to excessive financial risk taking. The House proposals stand little chance of becoming law, having received a much chillier reception in the Senate and at the White Ho

via House, Set to Vote on 2 Bills, Is Seen as an Ally of Wall St. – NYTimes.com.

You believe those greedy bastards? Jim Hightower is not amused and rightly so:

Audio:

Partial Quote:

On the day before Halloween, the ethically-challenged members of our lobbyist-haunted House of Representatives did a perverse imitation of “Profiles in Courage,” turning that body into “Profiles in Spinelessness.”

In particular, they cravenly caved in to an outrageous and dangerous demand by Wall Street whiners. Such financial powerhouses as Citigroup just hate having their profiteering recklessness restrained by the regulatory reforms passed after their 2008 financial meltdown. Even though the shockwaves from that Wall Street collapse continue to devastate America’s middle class, the banking elite have completely recovered – including recovering their swaggering arrogance and ability to sway money-hungry congress critters with rich campaign donations. — Read the rest at Jim Hightower’s site

I am shocked that more Conservatives are not swinging from the trees on this one here! To their credit, there are some Democrat Party house members that are opposed to this bill and rightly so. This is the same idiotic crap that brought down the stock market and killed our economy; thank goodness there is some semblance of sanity up on the hill.

Sure enough the Bill passed the house, But it is not expected to make it through the Senate and the White House has said that they would veto the thing, if it made it to the President’s desk. Which in this instance is a very good thing. However, this is not the point. What is the point is this: Those same bastards who caused the great meltdown of 2008, are now lobbying our Government to put things back as they were, so that this sort of thing could happy again. That my friends is enough to make an economic populist, like myself, to want to bite a nail in two! :mad:

The people that caused the Wall Street meltdown and downturn in our economy ought to be brought up on treason charges, and lined up against a wall and shot! :mad: But, instead, they are trying to buy their way back to lawlessness. This my friends, is an outrage.

September Jobs report is proof of stagnation

(H/T of credit goes to Ed Morrissey who’s report on this subject is most excellent.)

From the Bureau of Labor:

Total nonfarm payroll employment rose by 148,000 in September, and the unemployment rate
was little changed at 7.2 percent, the U.S. Bureau of Labor Statistics reported today.
Employment increased in construction, wholesale trade, and transportation and warehousing.

[….]
In September, the number of long-term unemployed (those jobless for 27 weeks or more)
was little changed at 4.1 million. These individuals accounted for 36.9 percent of the
unemployed. The number of long-term unemployed has declined by 725,000 over the past
year. (See table A-12.)

Both the civilian labor force participation rate, at 63.2 percent, and the employment-
population ratio at 58.6 percent, were unchanged in September. Over the year, the labor
force participation rate has declined by 0.4 percentage point, while the employment-
population ratio has changed little. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to
as involuntary part-time workers) was unchanged at 7.9 million in September. These
individuals were working part time because their hours had been cut back or because they
were unable to find a full-time job. (See table A-8.)

In September, 2.3 million persons were marginally attached to the labor force, down from
2.5 million a year earlier. (The data are not seasonally adjusted.) These individuals
were not in the labor force, wanted and were available for work, and had looked for a
job sometime in the prior 12 months. They were not counted as unemployed because they
had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 852,000 discouraged workers in September,
essentially unchanged from a year earlier. (The data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe
no jobs are available for them. The remaining 1.5 million persons marginally attached
to the labor force in September had not searched for work for reasons such as school
attendance or family responsibilities. (See table A-16.)

Ed Morrissey as always, provides some excellent analysis:

The jobless rate declined to 7.2%, but that’s not coming from an employment explosion. In order to keep up with population growth, the US economy has to add around 150K jobs net each month, which means we did slightly worse than tread water in September.  Both the U-3 and the U-6 number declined in this case by a tenth of a point, with U-6 now at 13.6%.  Before the Great Recession really got into high gear in the fall of 2008, U-6 was at 10.8%, and it was at 14.2% when Barack Obama took office.

This month, 136,000 people left the workforce in the population survey, which is almost the same number as the net jobs added in the establishment survey.  The number of employed in the same population survey only increased 133,000.  It’s a real demonstration of the continuing stagnation, and another indication of the decreasing value of the jobless rate as an economic indicator.

The business friendly media saw this and called it the following (Via CNBC):

Today’s blistering jobs report has quickly reminded America that our economic problems are getting worse, despite talking point reassurances from Federal Reserve officials,” said Todd Schoenberger, managing partner at LandColt Capital.

The report likely will do little to move the needle on monetary policy.

Most market-watchers now expect the Federal Reserve to continue its $85 billion a month bond-buying program until well into 2014. Consensus sentiment is now that the central bank won’t even start easing back on, or “tapering,” the purchases until the spring.

“You would think by now you would be consistently creating over a couple hundred-thousand jobs a month, at least,” said Brad Levitt, senior economist for Oppenheimer Funds. “The Fed wants to see over 200,000 jobs a month on a consistent basis before a change of policy.”

[….]

In short, the demand isn’t there and the money to pay additional workers isn’t there,” Kathy Bostjancic, director of macroeconomic analysis for the Conference Board, said in a statement. “Both job and income growth remain stuck in neutral.”

Okay, now it is time for me to rant a little here; after all the domain name here, and the former name of this blog was “Thoughts and Rantings” at one point. Now before I begin; please keep in mind that I have never been much of a partisan blogger. I have my political convictions and all, but I am not, nor have I ever been a “Republican” blogger. I am a Paleoconservative, a Pat Buchanan type. Basically, when it comes to matters like this here, Free Trade, and somewhat wall street —- I am still pretty much a populist, not a progressive populist, but still very much a populist.

You see my friends, this here is what you get when you put in a Neoconservative President for eight years, who puts America into a war. This is what happens when you put in neoconservatives in congress that spend like drunken sailors. This is what happens when Democrats come in, take over congress and promise the moon and the stars and proceed to do absolutely nothing! What did they do? Continued the damned spending, just like the Republicans did under Dennis Hastert.

All the Democrats did, when they were campaigning, was carp on about ending the war, not once did they ever say anything about the jobs situation.  Then, finally, after they won the election, and routed out the Republicans; did they change anything? Did they stop the war? Did they even bother to slow down spending, did they bring the fed’s printing of money under control? Did they try to lighten the burden of taxes to the big and small businesses, did they try to clear some of the idiotic regulations for small businesses, so that job growth could actually happen? Hell no, they didn’t!

Now look what we have to show for it, Republicans and Democrats. A pure crap-hole for an economy! As for those job numbers; those numbers are a damn farce. When you add in the people, like myself, who have basically given up on trying to look for work, and have been out of the workforce for longer than say, six months; the numbers are much, much, higher. Some say, if you factor in ALL unemployed people, the number is as high as 30%. I believe if the United States Government would actually stop trying to fake the damned numbers on unemployment, and take a real damned survey; the numbers would be shocking and would plunge Wall Street into a full on panic.

The bottom line: The United States of America’s economy and jobs situation is an absolute disaster; and the United States Government continues under this neo-liberal Presidential administration to cover up the fact that America’s unemployment problem is extremely severe. Just like the previous neoconservative President did. The solution to this problem is to end the free trade deals, and get the federal reserve under control. This is when real economic reforms can begin.

Others:

Great opinion piece on the Federal Reserve Bank by George Will

I highly suggest that you read it.

Quote:

Because Ben Bernanke’s public persona is as mild as milk, the transformation in American governance in which he has participated is imperfectly understood and hence insufficiently deplored. The change is dramatized by two recent developments.

One was the campaigning by several constituencies for and against what supposedly were the two leading candidates — Larry Summers and Janet Yellen — to replace Bernanke as chairman of the Federal Reserve. The Fed can no longer be considered separated from politics.

[....]

The Fed has become the model of applied progressivism, under which power flows to clever regulators who operate independent of political control. The Fed is, however, a creation of Congress, which may not forever refrain from putting a bridle and snaffle on a Fed that increasingly allocates credit, wealth and opportunity.

via George Will: The Fed has become a creature of politics – The Washington Post.

There are some of us, who believe that we should end the fed and go back to the gold standard. I happen to be one of those people.

Jobs? What Jobs?!?!

(H/T Insty)

Saith Megan McArdle:

The unemployment rate has fallen, but keep the cork in the champagne bottles: it’s falling because people are just giving up looking for work. The share of the population that is either working, or looking for work, has fallen to a 35-year low. The economy created just 169,000 jobs last month, barely more than we need to keep up with population growth. It’s nowhere near enough to absorb the people who have been out of work for months or years — what Karl Marx called the reserve army of the unemployed. No wonder fast-food workers are demonstrating for higher wages; jobs designed as supplementary income for kids, or housewives, are now being taken by breadwinners who can’t find anything else.. . .

Here’s the really bad news: The weak economy may be accelerating the rate at which older workers exit the labor market. Thanks to changes in Social Security benefits (and the entry of women into the workforce), labor force participation rates among those over 55 have been trending upwards since the 1990s. But since the recession, that progress has plateaued. Older workers are actually less likely to be out of work than their younger counterparts (probably in part because they’re clinging to jobs in order to make up big losses in their retirement accounts). But if they do end up out of work, they have a much more difficult time finding new jobs.

That doesn’t just bode ill for the present; it also promises lower growth for the future. There is no ray of sunshine to be found in this jobs report. The best thing you can say about it is that it wasn’t worse.

Fun part is, we got three more years of this crap. :roll:

Of course, it’s pretty damned hard to get even get a job; when you have racist blacks accusing whites of racism and making up stories to get you fired –- and have companies afraid of lawsuits.  Something that I know all about. :mad:

 

So, why did gold crash?

I am not an expert on the subject, but I think here might be a good reason as to why:

Who killed the gold?

 

 

In the wake of gold prices cratering in recent days, more than a few prominent experts have already started pinning the blame on Western central banks — especially the Federal Reserve and the European Central Bank (ECB). According to numerous analysts, the central bankers are desperate to salvage their fiat currencies and eliminate competition as “monetary authorities” continue to create ever-greater quantities of euros and dollars out of thin air.

Some experts, whistle-blowers, traders, and former officials say the Fed dumped as much as 400 or even 500 tons of “paper gold” on the market — metals that it might not even have — as part of a naked short sale aimed at driving down the prices. Other analysts, especially among the establishment, pointed to the ECB chief’s recent suggestion that struggling European authorities in countries such as Cyprus would have to sell their precious metals to keep receiving bailouts

via After Gold Crash, Experts Point to Central Bank Manipulation.

I do not really want to veer into Alex Jones territory; but it does seem interesting that gold plunges, there’s an attack and the stock market dives too. The events might not be related; but it sure does look a bit suspect to me.

Oh yeah, it’s a nightmare alright

I have one thing to say about this below — Welcome to my world.

The Story:

Close your eyes and picture the scariest thing you can think of. Maybe it’s a giant spider or a giant Stay Puft marshmallow man or something that’s not even giant at all. Well, whatever it is, I guarantee it’s not nearly as scary as the real scariest thing in the world. That’s long-term unemployment.

There are two labor markets nowadays. There’s the market for people who have been out of work for less than six months, and the market for people who have been out of work longer. The former is working pretty normally, and the latter is horribly dysfunctional. That was the conclusion of recent research I highlighted a few months ago by Rand Ghayad, a visiting scholar at the Boston Fed and a PhD candidate in economics at Northeastern University, and William Dickens, a professor of economics at Northeastern University, that looked at Beveridge curves for different ages, industries, and education levels to see who the recovery is leaving behind.

via The Terrifying Reality of Long-Term Unemployment – Matthew O’Brien – The Atlantic.

I have been unemployed for 8 solid years. Now, some of that, is my fault. I got into some of that HERE, when I wrote about my job hunting.  But, some of it; is simply the bad economy here in Michigan and as of 2008; the entire Country.

One part that I quibble with on this piece, is this here:

It’s time for the government to start hiring the long-term unemployed. Or, at the least, start giving employers tax incentives to hire the long-term unemployed. The worst possible outcome for all of us is if the long-term unemployed become unemployable. That would permanently reduce our productive capacity.

We can do better, and we need to start doing so now. We can’t afford long-term thinking in either the short or the long-term.

Okay, let me break this down here:

  1. Our Government is broke. They hardly can afford the people that they have now! They are having to cut hours and staff to stay afloat. So, that is out. 
  2. As for the tax incentives; I just do not think that incentives would even remotely work. What the employers would do, is hire the people; declare it on their taxes and then turn around and let the people or fire them for silly reasons.

What will work is a strongly worded piece of legislation that would make it illegal for employers to discriminate against those, who have been unemployed longer than six months and make damned sure the law is enforced to the hilt. With fines and loss of business license being the penalties for the infraction.

Let me clear here; I am not in favor of big Government statism at all; however, there are times, when, because of the actions of crony capitalists, Government has to take action to protect the American people, namely long-term unemployed Americans, like me — from being discriminated against, for the simple crime of not being able to find a job.  My reasons for not being able to get a job in the field that I trained in are explained here.  Yes, I whacked a pole, trying to make a turn out of a parking lot; that was in 2003. I should have been able to find work with a trucking company locally or at least regionally. I have not, why? Because no one locally or regionally is hiring, outside a big company around here, which is notorious for screwing its employees.

Again, I agree with what this man is saying is this article; I simply just do not believe his solutions are the right ones.

The Working Class under Obama: Screwed, as always

This comes via InstaPundit, who snarks:

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA?

Gallows humor, I like it. Hee hee

Reason Magazine reports the following:

If the labor participation rate had remained where it was in 2008, points out Investors Business Daily, unemployment would have recently risen to 11.1 percent.

True unemployment

By the way, I am one of those people, who basically left the job market, because there simply are not any jobs around here.

Some more lovely news, via Investors Business Daily:

Small businesses, who employ the bulk of American workers, don’t plan to hire additional staff, in another sign the job market is deteriorating again.

The National Federation of Independent Business said Tuesday that confidence among small firms dropped, with its index dipping to 89.5 in March from 90.8 in February.

The share of firms planning to grow employment minus the share planning to shrink it fell to a net 0%, the lowest in a year, from 4% in the prior month.

The survey also found business owners were no more pessimistic on the economy, but the balance of sales expectations swung to -4% from 1%. Small firms also were more inclined to shrink inventories and less inclined to think now is a good time to expand.

The NFIB index comes days after the Labor Department said nonfarm payrolls grew by just 88,000 in March, after averaging gains of more than 200,000 in the earlier five months.

The latest jobs report seems to indicate a pattern of strong winter hiring followed by a spring or summer slump will be repeated this year.

“After another false start, small-business confidence has sputtered and stalled again,” said Bill Dunkelberg, NFIB’s chief economist, in a statement Tuesday. “For the sector that produces half the private GDP and employs half the private sector workforce — the fact that they are not growing, not hiring, not borrowing and not expanding like they should be, is evidence enough that uncertainty is slowing the economy.”

You have to understand, this is what Barack Obama and the Democrats want. They want people like me, the working class; to depend on Government. They do not want people like me working. They would rather I depend on Government and get some sort of Government assistance. Remember, Obama said, “I am interested in those high tech jobs” during the last President debate.  The truth is, President Obama does not give two rips about the general labor types or the unskilled workers. The only people that the Democrats care about is:

  1. Union Workers – Actually, he really does not care about them either. He just is obligated to them, because of the legacy of the labor movement of the past. Also too, because there are still some high rolling donors among the labor movement still to this day. So, the Democrats do still have to pay their respects; all the while selling their jobs overseas.
  2. High Tech Jobs – This is because 90% of the tech job workers are immigrants and they. of course, are going to support a President, who gives them what they really want; which is amnesty. The other 10% of them are upper income liberals, who live in cities, like Ann Arbor, Michigan; fresh out of college and filled to the brim with liberal, socialist indoctrination.

This right here, is why I cannot find at least a local dirt hauling job around here. One, because the house construction business around here is basically bust, since the crash of 2008 — Which was caused by the stupidity of the Bill Clinton and the Democrats in the 1990’s. Two, because of what I have pointed out above. You have to have a reason for hauling that dirt around and if the economy is in the condition it is in, no one is going to want to have a house built or anything else for that matter; and companies who provide this service are not going to hire anyone extra, due to the fact that it might cost them in taxes.

This above, is why it looks like I am simply going to have to suck it up, pack up my bags, tell my parents goodbye; and get in a truck for a big company and basically be a slave for 2 years, working for crap wages. Once I get through the refresher, and running with a trainer, I should start making a decent wage; that is, if I actually get the miles. I would love to own my own truck and trailer; and pull loads off of a load board. However, that requires a good deal of capital, or in layman’s terms; a whole shitload of money, which I simply do not have. Oh, and another thing too; I am simply not interested in going into a ton and mean A TON of debt to start a trucking company. Since deregulation, the trucking industry is so stacked against a small time operator, that it simply is not worth the hassle anymore.

In short: I would be better off working for a big company. It is the way it is anymore, here in good ‘ol ‘merica. SadRolling EyesLoserDoh

I know the feeling….

This basically what happened with me. I just gave up on looking, after I saw that I was not going to get hired around here. Same goes for the trucking work. It’s a long story, and not a pretty one.

Video:


The Story:

WASHINGTON –  After a full year of fruitless job hunting, Natasha Baebler just gave up. She’d already abandoned hope of getting work in her field, working with the disabled. But she couldn’t land anything else, either — not even a job interview at a telephone call center. Until she feels confident enough to send out resumes again, she’ll get by on food stamps and disability checks from Social Security and live with her parents in St. Louis. “I’m not proud of it,” says Baebler, who is in her mid-30s and is blind. “The only way I’m able to sustain any semblance of self-preservation is to rely on government programs that I have no desire to be on.” Baebler’s frustrating experience has become all too common nearly four years after the Great Recession ended: Many Americans are still so discouraged that they’ve given up on the job market. — Americans discouraged by economic recovery leave labor force | Fox News

It sucks, but it’s my life. Only way that I am going to be able to get a driving job now, as in a class A truck; is go to a big company, take a refresher course and drive with a trainer for a few weeks and then drive for two to five years over the road. I am not looking forward to it. But, if I want my career back, I have to do it. There are other issues however: My parents ages for one, I am an only child and I am all they have. That one weighs on me heavy. Because I would hate to be out across the Country and have one of them have a problem.

This is the stuff that I am wrestling with. Do I or don’t I?