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You Ain’t Goin’ Nowhere

Not To Work At Least?

By: Repair_Man_Jack (Diary)  |  May 2nd, 2012 at 01:27 PM  | 

RESIZE: AAA

I don’t care how many letters they sent
Morning came and morning went.
Pick up your money, and pack up your tent
You ain’t goin’ nowhere

– Bob Dylan

It was bad. It was so bad that the Obama campaign staffers over at Business Insider.com had no choice but to report it in and honest and forthright manner. The it in question involved the ADP National Employment Report, which was bad because only 119K jobs were created in April 2012.

What made it even worse, was the fact that it was, dare I even say it, unexpected.* And just to make things even suckier; what the analysts expected was 170K.**

And it should surprise absolutely nobody that manufacturing employment fell by 4,000 on this month’s print of the ADP jobs report. Factories orders fell by 1.5% in March which implied those workers were no longer a necessary component of the Glorious Obama Recovery.

Of course we could make like good Keynesians and raise taxes while we borrow more money to fuel present day consumption. But even that option has grown increasingly shopworn over the past three years. Karl Denninger describes what lies before us better than most.

The attempt to reinflate the Ponzi bubble that burst in 2008 has failed. Worse, it appears that we we may be weeks to months at most from broad financial market recognition of this failure — and if so, we’re about to have one hell of a crash and this time there are no policy actions available that will make a difference in the outcome.

But Bob Dylan wrote a song back in 1967 that describes our present economy better than any of the words of our sages. Enjoy***….


* – It would just be easier if these people admitted up front that Obamanomics was a failed paradigm and that the beatings will continue until this fool is out of office.
** – Which, in and of itself sucks!
*** – The Byrds, Joan Baez, Hootie and The Blowfish and Counting Crows have also done great renditions of this song. It’s like the Swiss Army Knife of Popular Music!

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COMMENTS

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  • earlgrey

    I can’t keep them all straight. much easier if they just put the dem logo on all publications

    • http://travismonitor.blogspot.com Freedoms Truth

      N/T.

  • JimmyGee

    “Worse, it appears that we we may be weeks to months at most from broad financial market recognition of this failure ? and if so, we?re about to have one hell of a crash and this time there are no policy actions available that will make a difference in the outcome.”

    I have no doubt about this. I am surprised the economy hasn’t gone COMPLETELY off the rails yet. And this close to an election spells DOOM for Zero-In-Chief. The question is, if such a economic collaspe indeed happens, will the MSM report it? How bad does this economy have to get before the MSM can no longer ignore it, soft sell it, or prop up the meme that things are getting better?

    It is coming, and it is going to hit us like a freight train….

    • Repair_Man_Jack

      It looks bad indeed. I’d hate to see the interest rates we’d face if we tried a re-run of the stimulus we attempted in 2009.

    • JimmyGee

      • Repair_Man_Jack

        NT.

  • papayapicker

    Dylan had known Obama, we’d have new lyrics “Obama, my friend, is blowing in the wind, Obama is bl;owing in the wind.”

    • Repair_Man_Jack

      but perhaps he predicted him w/ Positively 4th Street.

    • acat

      but it doesn’t parse quite as well.

      Mew

  • renl57

    …were service jobs and in the financial sector.

    http://www.cnbc.com/id/47260289

    You can’t build sustained economic growth with burger-flippers and caregivers in old-age nursing homes and Wall Street financiers. They’re not creating enough capital goods and new wealth.

    And as for the jobs that create new wealth:

    Manufacturing employment was down, goods-producing employment was down, and construction employment was down.

  • http://travismonitor.blogspot.com Freedoms Truth

    COSTELLO: I want to talk about the unemployment rate in America.
    ABBOTT: Good Subject. Terrible Times. It’s 8.2%.
    COSTELLO: That many people are out of work?
    ABBOTT: No, that’s 18%
    COSTELLO: You just said 8.2%.
    ABBOTT: 8.2% Unemployed.
    COSTELLO: Right 8.2% out of work.
    ABBOTT: No, that’s 18%.
    COSTELLO: Okay, so it’s 18% unemployed.
    ABBOTT: No, that’s 8.2%…
    COSTELLO: WAIT A MINUTE. Is it 8.2% or 18%?
    ABBOTT: 8.2% are unemployed. 18% are out of work.
    COSTELLO: IF you are out of work you are unemployed.
    ABBOTT: No, you can’t count the “Out of Work” as the
    unemployed. You have to look for work to be unemployed.
    COSTELLO: BUT THEY ARE OUT OF WORK!!!
    ABBOTT: No, you miss my point.
    COSTELLO: What point?
    ABBOTT: Someone who doesn’t look for work, can’t be counted with those
    who look for work. It wouldn’t be fair.
    COSTELLO: To who?
    ABBOTT: The unemployed.
    COSTELLO: But they are ALL out of work.
    ABBOTT: No, the unemployed are actively looking for work… Those who
    are out of work stopped looking. They gave up. And, if you give up,
    you are no longer in the ranks of the unemployed.
    COSTELLO: So if you’re off the unemployment roles, that would count as
    less unemployment?
    ABBOTT: Unemployment would go down. Absolutely!
    COSTELLO: The unemployment just goes down because you don’t look for
    work?
    ABBOTT: Absolutely it goes down. That’s how you get to 8.2%. Otherwise
    it would be 18%. You don’t want to read about 18% unemployment do ya?
    COSTELLO: That would be frightening.
    ABBOTT: Absolutely.
    COSTELLO: Wait, I got a question for you. That means they’re two ways
    to bring down the unemployment number?
    ABBOTT: Two ways is correct.
    COSTELLO: Unemployment can go down if someone gets a job?
    ABBOTT: Correct.
    COSTELLO: And unemployment can also go down if you stop looking for a
    job?
    ABBOTT: Bingo.
    COSTELLO: So there are two ways to bring unemployment down, and the
    easier of the two is to just stop looking for work.
    ABBOTT: Now you’re thinking like a Democrat.
    COSTELLO: I don’t even know what the hell I just said!

    • gekster

      Funny because it is so true.

    • uncmike

      and it’s true to boot.

    • uncmike

      and it’s true to boot.

    • Repair_Man_Jack

      1) Cut
      2) Paste
      3) Post!!!

      Out-Flippin’-Standing