Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Posts Tagged ‘unemployment rate

Gov’t Unemployment Numbers Explained by Abbott and Costello

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COSTELLO: I want to talk about the unemployment rate in America.
 
ABBOTT: Good Subject. Terrible Times. It’s 7.8%.
 
COSTELLO: That many people are out of work?
 
ABBOTT: No, that’s 14.7%.
 
COSTELLO: You just said 7.8%.
 
ABBOTT: 7.8% Unemployed.
 
COSTELLO: Right 7.8% out of work.
 
ABBOTT: No, that’s 14.7%.
 
COSTELLO: Okay, so it’s 14.7% unemployed.
 
ABBOTT: No, that’s 7.8%.
 
COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%?
 
ABBOTT: 7.8% are unemployed. 14.7% are out of work.
 
COSTELLO: If you are out of work, you are unemployed.
 
ABBOTT: No, Congress said 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 his 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 whom?
 
ABBOTT: The unemployed.
 
COSTELLO: But ALL of them are out of work.
 
ABBOTT: No, the unemployed are actively looking for work.   Those who are out of work gave up looking 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 it gets to   7.8%. Otherwise it would be 14.7%.

COSTELLO: Wait, I got a question for you. That means there   are 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 have people stop looking for work.
 
ABBOTT: Now you’re thinking like an Economist.
 
COSTELLO: I don’t even know what the hell I just   said!
 
ABBOTT: Now you’re thinking like Congress.

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Written by opinionoregon

September 24, 2013 at 2:23 pm

Currency Wars: Americans are throwing gold and China is throwing paper

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currency war

Written by opinionoregon

May 8, 2013 at 3:31 pm

The last time the Dow was this high…..

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The last time the Dow was this high…

•Food stamp participation was 26 million, today it’s 48 million
•Gas was $2.75, today it’s $3.80
•Gold was $748, today it’s near $1,600
•U.S. National debt was 9 trillion, today we are at $16.4 trillion

Who knew that Hunger Games would be so prophetic?

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Who knew that Hunger Games would be so prophetic? Every single child in America can look forward to at least performing slave labor with a good chance that they may be forced to kill others in order to survive. They will be forced to take their chances literally with life and limb to satisfy the bloody ambitions of sociopathic criminal politicians.

H.R. 748 was introduced on February 14th, 2013 and was referred to the House Armed Services Committee the very same day! Unemployed Youths to be conscripted.

Hyper Grid-lock in D.C. is in store for 2013

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Hyper-gridlock in D.C. If you think the last few years have been ugly, wait until you live through 2013. Congress is in a non-election year and the President is in his final term, so both sides will be bolder than ever when it comes to drawing a line in the sand. Post-Fiscal Cliff deal the IMF and Moody’s have come out with statements, Moody’s saying, “Medium term actions may be needed to support Aaa” and the IMF says, “More remains to be done on U.S. public finances.” The odds of anything being done about our fiscal mess is probably pretty low, since the entire revenues of the U.S. pay for just our entitlements and interest on our debt. Borrowed money goes towards everything else in the Federal Government including the entire defense budget. Fixing the U.S. spending problem with the very people who advocate for more government and cherish their pet projects is probably impossible. Expect significant volatility during the debt ceiling increase and the new fiscal cliff deadline in 60 days, both these political talks will create excellent opportunities to trade as well as buy in on any big dips of companies you may be watching.

Written by opinionoregon

January 4, 2013 at 10:46 pm

Disappointed in Paul Ryan

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I had a glimmer of hope late last summer when Romney picked Paul Ryan as his running mate. Even though I voted for Gary Johnson (in OR Obama was a slam dunk), I felt that the GOP had finally woken up and were listening to the people. Well, last night Paul Ryan just kissed his 2016 Presidential run goodbye. I realized that I should not put the hopes of the country in a single DC insider, but rather in myself and in my like-minded followers. Thank you for be there for me and let’s move a mountain.

Wage and Price Controls hurt those it is intended to help

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A minimum wage is considered a price floor. In other words, it is a level below which the price of something is not allowed to fall.
When an employer is forced to pay someone a wage that is higher than what the free market would bear, they must make a decision to hire that person or not. If the cost to hire a person at an artifically higher wage is not cost effective, he/she will not make the hire. In addition, If a small business owner is paying his employees an hourly rate and that rate is raised by minimum wage laws, he/she has to make a key business decision; who should I fire to cover for the rising labor costs. Remember, minimum wage laws are political. Politicians would never get elected if they said, “Let’s get rid of minimum wage!”