Indeed. Of course, the reason for this is obvious. It's because the combination of trade agreements that outsource jobs, combined with massive record immigration, that has flooded the labor market. Nobody beats the law of supply and demand: when there are 100 desperate people competing for every job workers are disposable and employers will treat them like dirt, because they can.
That's why the rich are pushing for an immigration 'reform' that will likely push America's population past the billion mark by 2050 or so - and if you think that things are bad now, if immigration 'reform' passes, hold on to your seat belt.
No I am not 'scapegoating immigrants - shame on you! - I am pointing out that if the rate at which we allow foreign nationals to enter the country exceeds our ability to create jobs - and it is - then wages for the many will be pushed down, and profits for the few will soar. Period.
Yearly deficit is to come in at 650 billion. CBO had projected 850 billion. Down from 1.2 trillion this too much to fast. Time for a jobs bill say 75% infrastructure and 25% research. Maybe 150 billion over two years? Maybe two hundred billion over two years?. It doesn't matter it will pay for itself. This should be pushed to the front of Obama's agenda. I mean use the bully pulpit everyday. We need to use a portion of the deficit savings for stimulus or there will not be anymore deficit savings.
While many students are making a poor financial investment in college, there are worse things. Sometimes the collateral revenue take a few years to show or be appreciated. I encourage people to try work, not to borrow, go evenings, pay to acquire specific skills employers will paty for unless money is no object and then I say go join a frat and enjoy!
I wish I had never gone to college. I wish I had started working immediately after high school. Attaining degrees is a waste of time for most people, including me: http://alfidicapitalblog.blogspot.com/2013/05/college-is-bad-if-youre-po...
Grants not backed by cash at our small liberal arts college went over $1,000,000 in 1989. We had increase tuition by 6% instead of 3% for a few years charging some and giving grants to others. Over fifteen years it increased so much that it equaled 25% of tuition revenue. We were charging 1/3 more than needed and giving it out to students we wanted. Many got some aid but not nearly the overcharge. Talented students we got the most. Really poorer students paid in full. Most students paid with Pell grants, state sponsored loans, private company loans, and family money.
To make the situation worse, these less talented students often lost out after graduation by losing the job hunt to students who got the highest grants.
College leaders decided that charging 1/3 more than needed was enough so the college started using college loans to keep students and their Pell Grants/loan money coming into the college. Very high bad debts were just written off.
I check Guide Star and found that all noncompetitive liberal arts college I had been associated with were and still are using these questionable procedures.
Homeownership rates are at historic lows yet we have "bidding wars" on houses and price increases to 2006, 2005 levels?
Plus millions financially ruined, foreclosed on? It doesn't add up and in my view this has to be the banks holding back inventory plus "investors" buying up properties and sitting on them for later when they believe they will turn a profit.
Pending home sales and others still have "all cash buyers" at highs, 30%, around.
This market is so rigged beyond belief. Banks never had to clear the thousands upon thousands of bad loans at market prices .... these prices are artificially high when compared to what a household makes in wages to afford housing.
Has to be HFT operating on just the raw unemployment rate. There simply is nothing to cheer about in this report. Once again the great disconnect between Wall Street and Main Street.
I had pursued a loan modification for 14 months and continued to do whatever it took pay our mortgage. The request was due to my being laid off because of the recession. Early in the process Wells Fargo for some reason updated our income to double what it was and sent us a statement saying our loan modification was approved and our new payment would be $1,000.00 more a month than it was. When I spoke to someone at the bank they assured me our income had been corrected. Then the request was lost, sent to the wrong department and then lost again even though I was sending all the required documentation each month. Finally after 14 months we heard from someone in the correct department and who had our request. We were told the history of incorrect updates, transfers to wrong departments and losing our file and then finally that they were only a servicer and "the person who held the note" would not do a loan modification. He also said that we had 3 months to try and work something out that it took at least that long before it would be sent to their attorney and more time after that before notice of foreclosure would be sent to the county assessor. The next day, seriously, we received a letter from their attorney stating they needed a bunch of money including fines and attorneys fees or the property would be foreclosed. We also received, the same day, a notice from the county assessors office notifying us of the foreclosure date. I appeared at the hearing as Wells Fargo reported they were foreclosing because we did not honor our loan modification (the one based on our income being recorded as double what it was) to challenge if nothing else the reason for the foreclosure. The judge told me the banks could say whatever they wanted. In November of 2011 I sent very detailed documentation of everything that happened to Independent Auditors. And so now the final note to the chapter. Because according to bank records they gave us a loan modification, you know the one based on incorrect information in our records, we received a settlement check for $500.00, consistent with that category in the table. Oh and they sold the house for $80,000.00 less than we had bought it at, which would have been totally doable had they offered the same to us. The original effort to provide help did not provide oversight and failed to consider greed. The subsequent effort to, in some way hold the banks accountable, did not provide oversight and failed to consider greed. What's that saying...as long as you continue to do things the same way, you will continue to get the same results.
and it says there are only 31,597 Jobs Available Today at the top of the page. And when I look through them most of them obviously don't require much more in the way of skills than most people coule pick up on the job. If there really was a job, that is.
Well, maybe the "23,200 unfilled" jobs are invisible jobs.
Or, perhaps, people will become educated in these new pursuits enough to realize they are being manipulated for other's profit...
I received my foreclosure settlement check and only got 300.00 back. Is this some kind of joke. Not only I lost my home but these banks took out money from my own bank left me with nothing. This is a slap in the face.
Three times applied for loan modifications, the second and third efforts resulted in higher payments, baffling. No improvement for my situation other than cash for keys at a loss, the old mortgage was down to 112K from 132K after 18K down payment. when house went back on market after 4 months vacant, it sold for 166K. Now this was a bank robbery. I know the culprit, know where they are and there is a paper trail for the feds to direct file charges, I should be able to sue. Congress, insider trading, lack of bank regulations=lost equity, wrecked my faith in banks and home ownership in U.S
I have no idea why Wells Fargo isn't at the top of the list of protests of outrageous, abusive banks for story after story proves they ripoff people right and left. From ATM fees to checking account fees to foreclosures to credit cards, they are really a predatory lender.
Yet the focus in on Chase, who isn't anywhere near as bad by the numbers, not saying they are good, but in terms of regular people don't come close to Wells Fargo.
I am one who "...had to battle potentially (it wasn't potentially) wrongful (if you only knew what Wells Fargo did to me and my family it would make you nauseated) efforts to seize their homes despite not having defaulted on their loans (me), being protected under a host of federal laws (me), or having been in good standing (me) under bank-approved plans to either restructure their mortgages or temporarily delay required payments (I got a 6-month run around on the restructuring...banks did this with intent to foreclose). We were promised again and again it would be restructured, finally the day before the house went up for auction (we were part of the South Carolina office that screwed us) we had no choice and my wife drove 220 miles to file chapter 13 and halt the foreclosure). As my wife was on the road, a representative of Wells Fargo said "if she turns around I think we can get this to go through." That shameful course of action by Wells Fargo was nothing compared to what they did while we were under protection. And yet, having never missed one house payment, we lost everything; including the home we spend a decade fixing up with sweat and real equity, turning a house realtors would not even touch because of its condition, to a very special home for my family. The only reason I would like to think God exists, would be to correct what happened to us and all those others treated like dirt by the banks and derided by a public who thought folks such as us were freeloaders that wouldn't pay our mortgage. Gotta luv a stone throwing society that stands with the stone makers.
I don't like to overview initial claims ever week, but this week initial claims was 339k, an 16k drop.
That said, last week was revised up by 3,000, so it's a wait and see. We don't see anything economically speaking that would get initial claims down to 2007 levels happening and it would not surprise me to see this week's figure revised upward next week.
i.e. we think initial claims is still stuck in mud.
The govt is not "making 34B," at least in the end, they won't make squat. They're going to get crushed. How much will they be "making" when all those kids who studied lib arts and now work at starbucks default? The govt will be losing bigtime on this because the govt is terrible at deciding who is worthy of credit.
No, not at all, workers are displaced by foreign guest workers and there are many cases where workers had to train their replacements before being fired.
There is a whole "industry" processing foreign guest workers and overall they are cheaper so business can labor arbitrage. They also commit age discrimination, race discrimination (against U.S. domestic diversity) and sex discrimination.
Age is most common because they believe older people are not so submissive and it is perceived they are more expensive, although neither is true.
Indeed. Of course, the reason for this is obvious. It's because the combination of trade agreements that outsource jobs, combined with massive record immigration, that has flooded the labor market. Nobody beats the law of supply and demand: when there are 100 desperate people competing for every job workers are disposable and employers will treat them like dirt, because they can.
That's why the rich are pushing for an immigration 'reform' that will likely push America's population past the billion mark by 2050 or so - and if you think that things are bad now, if immigration 'reform' passes, hold on to your seat belt.
No I am not 'scapegoating immigrants - shame on you! - I am pointing out that if the rate at which we allow foreign nationals to enter the country exceeds our ability to create jobs - and it is - then wages for the many will be pushed down, and profits for the few will soar. Period.
But we can write about the need.
Yearly deficit is to come in at 650 billion. CBO had projected 850 billion. Down from 1.2 trillion this too much to fast. Time for a jobs bill say 75% infrastructure and 25% research. Maybe 150 billion over two years? Maybe two hundred billion over two years?. It doesn't matter it will pay for itself. This should be pushed to the front of Obama's agenda. I mean use the bully pulpit everyday. We need to use a portion of the deficit savings for stimulus or there will not be anymore deficit savings.
While many students are making a poor financial investment in college, there are worse things. Sometimes the collateral revenue take a few years to show or be appreciated. I encourage people to try work, not to borrow, go evenings, pay to acquire specific skills employers will paty for unless money is no object and then I say go join a frat and enjoy!
I wish I had never gone to college. I wish I had started working immediately after high school. Attaining degrees is a waste of time for most people, including me: http://alfidicapitalblog.blogspot.com/2013/05/college-is-bad-if-youre-po...
Grants not backed by cash at our small liberal arts college went over $1,000,000 in 1989. We had increase tuition by 6% instead of 3% for a few years charging some and giving grants to others. Over fifteen years it increased so much that it equaled 25% of tuition revenue. We were charging 1/3 more than needed and giving it out to students we wanted. Many got some aid but not nearly the overcharge. Talented students we got the most. Really poorer students paid in full. Most students paid with Pell grants, state sponsored loans, private company loans, and family money.
To make the situation worse, these less talented students often lost out after graduation by losing the job hunt to students who got the highest grants.
College leaders decided that charging 1/3 more than needed was enough so the college started using college loans to keep students and their Pell Grants/loan money coming into the college. Very high bad debts were just written off.
I check Guide Star and found that all noncompetitive liberal arts college I had been associated with were and still are using these questionable procedures.
Homeownership rates are at historic lows yet we have "bidding wars" on houses and price increases to 2006, 2005 levels?
Plus millions financially ruined, foreclosed on? It doesn't add up and in my view this has to be the banks holding back inventory plus "investors" buying up properties and sitting on them for later when they believe they will turn a profit.
Pending home sales and others still have "all cash buyers" at highs, 30%, around.
http://www.counterpunch.org/2012/12/18/the-mysterious-new-housing-bubble/
This market is so rigged beyond belief. Banks never had to clear the thousands upon thousands of bad loans at market prices .... these prices are artificially high when compared to what a household makes in wages to afford housing.
Has to be HFT operating on just the raw unemployment rate. There simply is nothing to cheer about in this report. Once again the great disconnect between Wall Street and Main Street.
I had pursued a loan modification for 14 months and continued to do whatever it took pay our mortgage. The request was due to my being laid off because of the recession. Early in the process Wells Fargo for some reason updated our income to double what it was and sent us a statement saying our loan modification was approved and our new payment would be $1,000.00 more a month than it was. When I spoke to someone at the bank they assured me our income had been corrected. Then the request was lost, sent to the wrong department and then lost again even though I was sending all the required documentation each month. Finally after 14 months we heard from someone in the correct department and who had our request. We were told the history of incorrect updates, transfers to wrong departments and losing our file and then finally that they were only a servicer and "the person who held the note" would not do a loan modification. He also said that we had 3 months to try and work something out that it took at least that long before it would be sent to their attorney and more time after that before notice of foreclosure would be sent to the county assessor. The next day, seriously, we received a letter from their attorney stating they needed a bunch of money including fines and attorneys fees or the property would be foreclosed. We also received, the same day, a notice from the county assessors office notifying us of the foreclosure date. I appeared at the hearing as Wells Fargo reported they were foreclosing because we did not honor our loan modification (the one based on our income being recorded as double what it was) to challenge if nothing else the reason for the foreclosure. The judge told me the banks could say whatever they wanted. In November of 2011 I sent very detailed documentation of everything that happened to Independent Auditors. And so now the final note to the chapter. Because according to bank records they gave us a loan modification, you know the one based on incorrect information in our records, we received a settlement check for $500.00, consistent with that category in the table. Oh and they sold the house for $80,000.00 less than we had bought it at, which would have been totally doable had they offered the same to us. The original effort to provide help did not provide oversight and failed to consider greed. The subsequent effort to, in some way hold the banks accountable, did not provide oversight and failed to consider greed. What's that saying...as long as you continue to do things the same way, you will continue to get the same results.
Check out this site -
http://www.washingtonstem.org/Why-Stem/The-Challenge#.UYF76hJBdyJ
Where
"By 2018 we'll see a 24% increase in STEM jobs"
"There are 23,200 unfilled jobs as a result of the "jobs skills gap". This gap is growing and will be 45,000 by 2017".
However, I go here:
https://fortress.wa.gov/esd/worksource/Employment.aspx?CurrentPage=Emplo...
and it says there are only 31,597 Jobs Available Today at the top of the page. And when I look through them most of them obviously don't require much more in the way of skills than most people coule pick up on the job. If there really was a job, that is.
Well, maybe the "23,200 unfilled" jobs are invisible jobs.
Or, perhaps, people will become educated in these new pursuits enough to realize they are being manipulated for other's profit...
I received my foreclosure settlement check and only got 300.00 back. Is this some kind of joke. Not only I lost my home but these banks took out money from my own bank left me with nothing. This is a slap in the face.
Three times applied for loan modifications, the second and third efforts resulted in higher payments, baffling. No improvement for my situation other than cash for keys at a loss, the old mortgage was down to 112K from 132K after 18K down payment. when house went back on market after 4 months vacant, it sold for 166K. Now this was a bank robbery. I know the culprit, know where they are and there is a paper trail for the feds to direct file charges, I should be able to sue. Congress, insider trading, lack of bank regulations=lost equity, wrecked my faith in banks and home ownership in U.S
I have no idea why Wells Fargo isn't at the top of the list of protests of outrageous, abusive banks for story after story proves they ripoff people right and left. From ATM fees to checking account fees to foreclosures to credit cards, they are really a predatory lender.
Yet the focus in on Chase, who isn't anywhere near as bad by the numbers, not saying they are good, but in terms of regular people don't come close to Wells Fargo.
I am one who "...had to battle potentially (it wasn't potentially) wrongful (if you only knew what Wells Fargo did to me and my family it would make you nauseated) efforts to seize their homes despite not having defaulted on their loans (me), being protected under a host of federal laws (me), or having been in good standing (me) under bank-approved plans to either restructure their mortgages or temporarily delay required payments (I got a 6-month run around on the restructuring...banks did this with intent to foreclose). We were promised again and again it would be restructured, finally the day before the house went up for auction (we were part of the South Carolina office that screwed us) we had no choice and my wife drove 220 miles to file chapter 13 and halt the foreclosure). As my wife was on the road, a representative of Wells Fargo said "if she turns around I think we can get this to go through." That shameful course of action by Wells Fargo was nothing compared to what they did while we were under protection. And yet, having never missed one house payment, we lost everything; including the home we spend a decade fixing up with sweat and real equity, turning a house realtors would not even touch because of its condition, to a very special home for my family. The only reason I would like to think God exists, would be to correct what happened to us and all those others treated like dirt by the banks and derided by a public who thought folks such as us were freeloaders that wouldn't pay our mortgage. Gotta luv a stone throwing society that stands with the stone makers.
What, since most states never decoupled their state tax system from the Federal, is the fiscal impact on lets say, a state like New Mexico?
I don't like to overview initial claims ever week, but this week initial claims was 339k, an 16k drop.
That said, last week was revised up by 3,000, so it's a wait and see. We don't see anything economically speaking that would get initial claims down to 2007 levels happening and it would not surprise me to see this week's figure revised upward next week.
i.e. we think initial claims is still stuck in mud.
The govt is not "making 34B," at least in the end, they won't make squat. They're going to get crushed. How much will they be "making" when all those kids who studied lib arts and now work at starbucks default? The govt will be losing bigtime on this because the govt is terrible at deciding who is worthy of credit.
No, not at all, workers are displaced by foreign guest workers and there are many cases where workers had to train their replacements before being fired.
There is a whole "industry" processing foreign guest workers and overall they are cheaper so business can labor arbitrage. They also commit age discrimination, race discrimination (against U.S. domestic diversity) and sex discrimination.
Age is most common because they believe older people are not so submissive and it is perceived they are more expensive, although neither is true.
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