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6.3% but no one is celebrating May 5, 2014

Posted by hslu in Congress, Economics, Global Affair, jobs, Politics.
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The real unemployment rate in the US is not 6.3%; it’s 12.5% or so. One out of evety eight people who want a job don’t have a job.

It is hidden from the headline. It’s scary and it is very sad. Many of them have been out of a job for more tham 6 months. And they are still waiting for an offer which may never come.

Thatzs why housing market is losing steam despite the low interest rstes.

Investors have spent all their money and they have stopped buying for the most part.

What the housing market need are more first time home buyers, more trade up buyers and people relocate for new and better jobs.

None of that is happening; not when many people wait on tables or flipping burgers.

Many good jobs are gone to developing countries. New people coming into the US are less educated and they need government’s support.

They don’t contribute to the growth of the US. They are good to bring the US down and Democrats are happy becsuse they add to the base of the party.

Are you holding back on your spending? October 5, 2011

Posted by hslu in Economics, jobs.
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Just heard this on TV that American consumers are cutting back on, of all things,  diapers.

Yes, diapers! And the spending on diapers was 1% below the level a year ago.

http://online.wsj.com/article/SB10001424052970203791904576609254230522240.html?mod=googlenews_wsj

I don’t think that we have fewer babies than a year ago. Mothers all over the US have kept that wet and soiled diapers on babies’ butts just that little longer to save a few bucks.

Times are different now. I guess when ~16% of people don’t have jobs, they have to cut back on something.

Have you heard of 開襠褲 “kai1 dang1 ku4?”

Obama doing the slick willie trick? January 22, 2011

Posted by hslu in Economics, Global Affair, Health Insurance, jobs, Obama, Politics.
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The guy is imitating Clinton’s trade mark: slick Willie.  With 2 years to go on his re-election, he is all the sudden concerned about US economy?

He is 9.4% unemployment rate too late. Or was it 17%? I lost count with so many variables in the unemployment report.

He should have done so in the first year when he took the office. Instead he worked on nationalizing health care against American people’s wishes.

http://finance.yahoo.com/news/Obamas-economic-agenda-Boost-apf-2951829716.html?x=0&sec=topStories&pos=main&asset=&ccode=

Don’t be fooled by this guy. He is a liberal and will always be a liberal no matter what face is heading his economic team.

Wake Up, Krugman September 27, 2010

Posted by hslu in China, Economics, Global Affair, jobs, Obama, Politics.
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Krugman’s Op-Ed  piece on NY Times on 9-27-2010 debunked the myth of structural nature of the massive unemployment rate in the United States.

http://www.nytimes.com/2010/09/27/opinion/27krugman.html?th&emc=th

He said that Minneapolis Fed president Narayana Kocherlakota and Bill Clinton’s claim that  “people don’t have the job skills for the jobs that are open” is simply not true and not supported by employment data in the nation.

He argued that the problem is not structural and the real reason is

Well, there you go again, Krugman.

You are right that the structural problem is not the reason for the high unemployment rate. I give you credit for that because I agree with you on this point.

You are wrong to claim that the real problem is a “lack of policy resolve” from the US government. You said that because you are preaching the government solution again to solve the problem as a faithful liberal would do.

Well, what is so shocking to me from reading Krugman’s piece is this:

How come a Noble prize winner on economics doesn’t have any common sense?

The real reason for the high unemployment rate in the US is people are simply running out of money to spend in the first place. It actually happened in the Fall of 2005 when the housing bubble started to burst.

The academia called this “deleveraging.” It was a fancy word to say that Americans are having a debt up to their eyebrows. They didn’t have money in their savings account. They barely have enough to pay the bills on any giving month. They didn’t have any money to speak off in their 401(k) and, worse off, they may even have a loan on their accounts. They did save any money for their retirement. And they didn’t have money saved for their children’s education. What they do have are boats on the drive way. Huge flat panel TV in their living room. Fancy kitchen upgrades and a home theater in the basement or near the den. Plus a huge house that’s under water for the past three or four years.

Adding more salt to the the wound, the Three Stooges of the 21 century: Obama, Pelosi and Reid ran the federal government to the ground with lies and deceits and passed policies against people’s will with more government spending, unfunded liabilities, record-breaking deficits and extremely high national debt.

Of course, massive direct foreign investments to China and other markets in Asia and South America from US so many companies since 1993 have resulted in wholesale export of manufacturing jobs to these countries. And this was the root cause for the “structural” change of the industry and the labor market in the United States.Well, the United States has no other to blame but themselves and the capitalism because money flows to where it is treated the best.

American people who still have a job will save more at the expense of a crawling economy and a stubbornly high unemployment rate for at least two more years.

Now that the US government, like many Americans, is broke, the massive spending has to stop which American people are concisely doing right now. Let the market takes care of itself. Once people saved enough money and feel secure with their future,  they will spend again and the unemployment rate will come down structural or not.

Wake up, Krugman. Forget about arguing with other academia and the likes of Bill Clinton. You need to get out of your office and talk to people on the main street from time to time. It is no more complicated than this.

New taxes are coming! New taxes are coming! July 22, 2010

Posted by hslu in Economics, Global Affair, Health, jobs, Obama, Politics.
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George Steinbrenner sure chose the right year to die. He didn’t have to pay the death tax. If he lived for 5 more months, he’ll have to pay Uncle Sam 55% of his estate over $1 million. As rich as he was, I am not sure he’d like that bad a deal.

Starting January 1, 2011, many more taxes will be levied against American people thanks to Obamacare. And this time we, not just the rich folks, will have to pay:

Tax bracket will be higher for everybody:

10% to 15%

25% to 28%

  • 28% to 31%
  • 33% to 36%, and
  • 35% to 39.6%.
  • The marriage penalty will come back,
  • Capital gains tax will jump to 20% from 15%,
  • Stock dividends will be taxed at 39.6% instead of 15%,
  • Child tax credit will be decreased to $500 from $1,000, and
  • Standard deduction on your tax return for couples will be reduced to the same as that for single tax filers.

And don’t think for a minute that you won’t be affected: if you have 401(k), 403(b) if you own mutual funds, you’ll pay for more taxes for the privilege of owning them. There is simply no escape.

The bottom line is this: we’ll have to pay $115 billion in new taxes for 2011 alone. That number goes up to $2.6 trillion through 2020.

Wow! Where can I find a place to hide?

I have a message for all those who are now on unemployment checks, if you want to work, ask your congressmen to get rid of these taxes. With economy near the flat line and with the real unemployment rate hovering around 17%, new tax will further hurt the chance of any economy rebound.

With these new taxes, you will for sure live on government handouts even longer.

9.5% July 19, 2010

Posted by hslu in Economics, jobs, Obama, Politics.
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Headline Unemployment Rate in the private sector: 9.5%

Actual Unemployment Rate in the private sector: ~17%

Unemployment Rate in the federal government: What is that? Our jobs are guaranteed for life.

Pay cut for workers in the private sector:  10 – 20% or more.

Pay cut for workers in the federal government: no pay cut at all. Obama w ill give them a raise this year.

To the federal employees: please spend you money to stimulate the economy! The unemployed Americans need you!

9.5% unemployment rate July 11, 2010

Posted by hslu in Economics, jobs, Politics.
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Can someone tell me the rational behind not counting people dropping out of the job market in the calculation of unemployment rate? Almost one million people gave up looking for jobs in May and June and they weren’t counted as unemployed.

Why? Not look for job equals to having a job? Only government can come up with this kind of twisted logic.

They stayed at home and the government told us that the headline unemployment rate dropped from 9.7% to 9.5% in Jun.

Hmm?

Let’s ask more people staying at home and we’ll be looking at 8.5% unemployment rate soon.

Double Standard June 23, 2010

Posted by hslu in Uncategorized.
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Tony Hayward was criticized by the White House and liberal media  for attending a yacht race on Saturday because that damn hole wasn’t plugged.

Obama got a free pass from liberal media on his golf game on Saturday and Baseball game on Friday night. But on the day of “top kill”, Obama was implying that he was responsible for plugging that “damn hole.”

At last count, Obama also has the following thorny issues to deal with:

  • North Korea’s sinking of a South Korean battle ship.
  • Detection of high radiation levels of Uranium near the boarder of North Korea on May 15th, 2010.
  • Iran’s Nuclear weapon program.
  • Wars on Afghanistan and Iraq.
  • Domestic terrorist attack.
  • Gaza naval blockade by Israel.
  • Turkey turning its back on the U.S.
  • High unemployment rate.
  • Lousy economy.
  • Mounting deficits.
  • Soaring national debt.
  • Double dip on the housing market.
  • Arizona Illegal Immigrants law.
  • Cleaning up oil spills from beaches in LA, MS and FL.

Would you call that a “double standard?”

Do you know? April 9, 2010

Posted by hslu in Do you know?, Economics, Global Affair.
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Spain’s unemployment rate hit 40% among the young workers. Overall unemployment rate is about 20%.

One of these days, the United States may see this kind of unemployment rare if the Democrats succeed in changing the country to a full fledged socialized country.

We have social security, Medicare, Medicaid, welfare and food stamps. Added universal health care now.

Let’s see what else do we need to match what French people enjoy all their lives:

  • One month vacation in Spring. Summer is too hot.
  • Good pension, say 75% of your pay.  That sounds reasonable.
  • Free housing.Why not? Health care is not a right.
  • Good paying jobs.
  • Free private university educations. We can’t have rich kids going to Harvard all the time, can we?
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