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Re: The Big Lie,,,,,,,,,,,,,Since the lousy jobs report last Friday, there has been a veritable orgy of Fed Speak with juicy morsels and contradictions,

By: atomicbob in ROUND | Recommend this post (0)
Fri, 08 Jun 12 5:29 PM | 56 view(s)
Boardmark this board | De's Test Board 		Msg. 41852 of 45651
(This msg. is a reply to 41844 by capt_nemo)
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This is the first time I've seen this "Employment-Population ratio", but I've wondered forever why they don't use this number for their cypherin!

It doesn't seem very important how many "actively seeking employment" unemployed there are, or how many "new jobs" are created.

How many people actually work v. how many people don't work seems to be the most important statistic, yet it gets ignored.

Weird.




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There is no need to thank me for this valuable information: I'm doing it as a public service.


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The above is a reply to the following message:
The Big Lie,,,,,,,,,,,,,Since the lousy jobs report last Friday, there has been a veritable orgy of Fed Speak with juicy morsels and contradictions,
By: capt_nemo in ROUND
Fri, 08 Jun 12 4:11 AM 		Msg. 41844 of 45651

interspersed with leaks and rumors, that climaxed today with Chairman Ben Bernanke’s words of wisdom before the Congressional Joint Economic Committee. It whipped markets into a frenzy, drove the Dow up 500 points, knocked yields into historic basements, and caused gold, the safe-haven investment, to bounce up and down like a rubber ball. All this was peppered with the impending collapse and bailout of Spanish banks and an endless litany of other problems in the Eurozone whose miasma is drifting across the Atlantic and might infect the presidential campaign.

Yet Bernanke wasn’t totally gung-ho about more Quantitative Easing. The “economy must be monitored closely,” he said instead of promising the immediate restart of the printing press. On Tuesday, it was Richard Fisher, President of the Dallas Fed, who came out swinging against more quantitative easing despite the “hue and cry of financial markets.” He blamed the federal government for lack of direction in its tax and spending policies that leave businesses mired in uncertainty. The same day, James Bullard, President of the St. Louis Fed, didn’t think the jobs situation and the broader economy was bad enough for the Fed to pile into another round of ineffectual QE—maybe they were trying to stay out of a political minefield. Read.... Squeezing the Fed from both Sides.

On Wednesday, Vice Chair Janet Yellen took the opposite tack. Citing the still dismal job and housing markets, she pushed for more QE and more interest rate manipulation for an even longer period, probably for all times to come—ironically because the job and housing markets are precisely the markets that have not recovered since the Fed started its QE programs and zero-interest-rate policy (ZIRP) in December 2008, along with its massive corporate and bank bailouts.

The effect of the Fed’s policies on the job market can best be seen through the Employment-Population ratio, which measures the percentage of people age 16 and older who have jobs. It’s not perfect. But it’s the least corrupted employment number out there: it’s not seasonally adjusted, manipulated by the infamous “Birth Death Adjustment,” or mucked up in other ways. After peaking in April 2000 at 64.7%, it now hovers near its 30-year low—despite, or because of, the Fed’s policies:

more,,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/contributed/2012-06-07/big-lie?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

QE doesn't friggin work!!!!!!!!!!!!!!!!!!!! WAKEUP ya bunch of zombies...........

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