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Saturday, December 03, 2011

Unemployment Plunges to 8.6%!

Yippee!  This is wonderful n...



It ain't what it appears to be.  The rate of unemployment here in the USA dropped significantly last month, mostly because hundreds of thousands of Americans decided to no longer even consider themselves unemployed.  They simply walked off into the sunset:
Economy Creates 120,000 Jobs, Rate Tumbles to 8.6%
By Jeff Cox, CNBC

Job creation remained weak in the U.S. during November, with just 120,000 new positions created, though the unemployment rate slid to 8.6 percent, a government report showed Friday.

The rate fell from the previous month's 9.0 percent, a move which in part reflected a drop in those looking for jobs. The participation rate dropped to 64 percent, from 64.2 percent in October, representing 315,000 fewer job-seekers.

The actual employment level increased by 278,000. The total amount of those without a job fell to 13.3 million.

The drop in participation rate is significant in that had the labor force remained steady, the jobless rate would have dropped to 8.8 percent, according to Citigroup calculations. If the labor force had followed trend growth, unemployment would be at 8.9 percent. [link]
The rate dropped from 9.0% to 8.6% because the "participation rate" dropped to 64.0% from 64.2%, with the actual employment level increasing to 278,000, bringing the total amount of those without a job down to 13.3 million, a number that would reflect an 8.8% unemployment rate had it not been for ...


An explanation that only a statistician could love.


At the rate we're going, America will reach zero unemployment soon.  And we'll all be on the bread line.

Find anything odd in that?

Justice Dept. details how it Lied

Justice Dept. details how it got statements wrong.

Another One Bites The Dust

Let's face it. Electric cars are toys for the rich and fanciful. Woefully impractical and dazzlingly expensive, they just aren't a good fit for - dare I say it - that 99% of America that doesn't hang out in Hollywood or Manhattan (or want to hang out in Hollywood or Manhattan).

Thus, companies that launch an effort to capture a market that just isn't there, in the end, capture only failure:
Electric Vehicle Aptera Motors Pulls the Plug
Fox News

A Southern California electric vehicle company has decided to pull the plug.

Aptera Motors has announced that it is shutting its doors, letting its workers go and liquidating its assets , Wired.com reports.

The company first showed off it's three-wheel model in 2007 and had been working on a sedan.
Aptera Motors CEO Paul Wilbur said in a statement that Aptera ran out of time and money, Wired.com reports.

"After years of focused effort to bring our products to the market, Aptera Motors is closing its doors, effective today," he said in the statement. [link]
Aptera's problem? Nobody with investment capital would invest in the company (though our government was more than prepared to fling mountains of cash at it). Why? Because investors expect a return on their investments (a quaint notion indeed). And they saw no ROI opportunity in an impractical toy that would be of interest to only a tiny niche of humans.

So Aptera bites the dust.

As would the entire electric car industry if not for your tax dollars.

Will The Democrats Renominate Obama?

And, if so, will any publically support him?

This speaks volumes about the state of Democrat affairs in 2011:
Dem Recruit Attacks GOP Congressman for Backing Obama
By Josh Kraushaar, National Journal

Here's a telling sign of how much President Obama's fortunes have changed since 2008 -- a leading Democratic Congressional recruit is now attacking a Republican congressman for supporting the president.

Former Ohio Democratic congressman Charlie Wilson, who was attacked relentlessly for being too close with President Obama in last year's losing campaign, kicked off his comeback bid today by accusing his Republican rival of the same sin.

Wilson, who represented a rural, blue-collar district along the Ohio River, is seeking a rematch against freshman Rep. Bill Johnson, R-Ohio. In his successful 2010 campaign, Johnson effectively characterized Wilson as a lackey of national Democrats, blasting him for casting a critical vote for Obama's health care law and the stimulus.

So it's striking that Wilson is now trying to use that same tactic against Johnson, criticizing the congressman for supporting free trade agreements backed by President Obama.

"I am disappointed that Congressman Johnson supported President Obama's free trade agenda this year. These agreements will ship even more of our jobs overseas," Wilson told WTRF-TV. [link]
We could certainly argue in opposition to the point that Obama is a "free trader."  But that would be beside the point.

A Democrat attacks a Republican for being too close to the Numero Uno Democrat in the country.  My, oh my.