WTF?
Mish’s Global Economic Trend Analysis: Trends in Civilian Population, Labor Force, Employed.
Economy
Bruce Krasting on Social Security
The SSTF has stated that the date in which the TF falls to zero will be 2033. The actual termination date of the TF is much closer than that. It could come as early as 2023. Anyone who is 55 or older should be worried about this. Based on current law, all SS benefit payments must be cut by approximately 25% when the TF is exhausted. This will affect 72 million people. The economic consequences will be severe. The drop in SS transfers translates into a permanent drag on GDP of 2%. In other words, when this happens, the country will be unable to have any significant positive growth for a long time to come.
via Bruce Krasting: Bernanke – My Goal is to Wreck Social Security.
TF = Trust Fund
Y’all better start planning for a much smaller Social Security payout. Interesting viewpoint in this blog post. Ignore at your own risk.
Why Good People Can’t Find Jobs – Part 2
The sad truth is that it’s costly and risky to hire anyone to do anything, and “bankable projects” that might generate profit/require more labor are few and far between. The overhead costs for employees have skyrocketed. So even though the wages employees see on their paychecks have stagnated, the total compensation costs the employer pays have risen substantially.
via charles hugh smith-Dear Person Seeking a Job: Why I Can’t Hire You.
Go read this article. There are quite a few insightful observations.
Pass The Trash Please
This story is important because it is happening again today. Money Center banks are reducing their holdings of risky loans. The regional banks are increasing exposure.
via Bruce Krasting: Passing The Trash – Again.
Faithful readers know I have a penchant for following world-wide economic events. Please enjoy this article.
Why Good People Can’t Find Jobs
A Manpower survey asks employers if they’re having trouble finding people to hire. In that survey, about 11 percent say they can’t get people to accept jobs at the wages they’re paying. So 11 percent are saying we’re not paying enough. The real number is probably double that. We’re not very good at identifying problems we create ourselves. If they’re not finding [employees], don’t call it a skills gap; don’t call it a skills mismatch – you’re just being cheap
Mish’s Global Economic Trend Analysis – Real World Deflation Defined
Neither money supply nor the CPI can adequately explain interest rates, housing prices, lack of jobs, and numerous other real-world phenomena. In the real-world, in a credit-based economy, it is credit that matters.
Good point!
Scary Chart of the Day – 06.24.2012
I am part of the green line. Click through below for an excellent analysis.
Can It Get Any Worse?
32 applicants so far…for $10k a year!
Scary Chart of the Day – 06.21.12
Yikes!
Your WTF moment for the day. You have to read the whole post. Priceless.
I often wonder why, when so many TV shows and movies are made here in Hollywood North, more celebrities don’t just buy houses and live here? Say you were a fairly affluent star and had around $3-3.5 million to spend on a place to crash…
View original post 109 more words
lifeunderwriter.net 
You must be logged in to post a comment.