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seekingtruth1066

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  • Historical Perspective On Monthly Job Growth [View article]
    The United States has not created one net new job since 1998. Look at the Bureau of Labor Statistics data.
    Jul 28 10:01 AM | Likes Like |Link to Comment
  • Employment Report Shows Little Change From Last Month [View article]
    There is no catalyst for employment in the USA. The only major western county showing any progress is Germany. This is because they manufacture high value, high demand products. China has become a major customer for German made goods. America will not see any significant decrease in the unemployment rate, if at all, for years. We have actually not produced a single net new job since 1998. We can turn this all around if we chose to produce what we consume, but this would call for a massive policy and cultural change. Not likely. We will continue to go deeper in debt as a nation each year and get poorer and poorer each year. When and what is the end game? Stay tuned.
    Jul 8 09:17 AM | 3 Likes Like |Link to Comment
  • RALLY OFF? US DOLLAR SOARS. [View instapost]
    With a rising dollar that is completely out of whack with where the current account stands, the FED can afford a massive QE3. I think it is time to simply pay back the bond holders to the tune of 3 Trillion dollars and cancel the bonds. That's right, a full monetization of 20% of our debt. Next I would restructure the portion of the debt owed by government agencies. I would restructure government finances and in affect wipe this portion of the debt out. The entire Western World needs a total debt restructure. All the money pouring into bonds around the world is leaving the capital base for investment in the real economy in shambles. Unprecedented actions must be taken. What once would have seemed improbable must become standard procedure. Think about this: In 1970 our entire national debt was 350 billion. Today we are running 1.6 trillion dollar deficits each and every year. Do people realize we could have monetized that 350 billion without performing malice on the economy? I believe this is indeed the case. That 350 could have been wiped away via printing. If not in 12 months then over a 3 or 4 year period...
    Jul 7 08:27 AM | Likes Like |Link to Comment
  • Non-Farms Payrolls: 12 Year Depression [View instapost]
    Look at the structure of the economy after the year 2000. The current account deficit exploded. We have never experienced anything like this. During the recessions of 1982 and 1992 our trade deficit was under 1% of GDP. In 1982 China was a complete non factor. Totally irrelevant to the American worker. This is the first downturn we have experienced with a trade deficit running over 5% of GDP. We have moved so much economic activity overseas there is now not enough here at home to pull us up and out of this rut. To make matters worse we have a declining financial sector. Credit expansion used to mask the ill effects of the trade deficit. This is no longer the case. The economy will not work again until we decide to produce what we consume. The ecosystem of the U.S. economy is in a permanent state of disrepair until trade is fixed.
    Jul 7 08:15 AM | 1 Like Like |Link to Comment
  • Recent Stats Indicate U.S. Economic Recovery Was an Illusion [View article]
    Until America sees a massive and multi year rise in industrial production and a massive multi year decline in the current account; you can forget about any longer term recover. The rise in the trade deficit over the past 15 years has been absolutely detrimental to the economic prospects of the United States.
    Feb 21 07:40 AM | Likes Like |Link to Comment
  • Greece: Monday Could Disappoint Markets [View article]
    The entire bailout process is a disaster. Greece should do a complete default and go back to the Drachma. The idea that Germany and Greece are sharing the same currency is really quite flawed. The only way Greece has a chance in the coming years is with a radically devalued currency. The Drachma cometh when people get serious...
    Feb 21 07:38 AM | Likes Like |Link to Comment
  • Fortify Your Portfolio With Steel [View instapost]
    Have you looked at the fixed pension liabilities of AKS? How does this company grow earnings at a market beating rate with these legacy costs?
    Feb 21 06:52 AM | Likes Like |Link to Comment
  • 2 Winners And Losers In The Euro Crisis [View instapost]
    Where are all the central planners who told the world the Euro was the great utopia?
    Feb 21 06:49 AM | Likes Like |Link to Comment
  • Greece Is Defaulting; Recession Is Imminent. Play Defense [View article]
    It is not just Greece. The entire Western World is in big trouble. All the social programs which are really just vote buying schemes by the left are leading to ruin. In America the left is still in total denial over the cost of entitlements. Bankruptcy is possible. Money printing is certain. Generational warfare is coming.
    Feb 21 06:47 AM | Likes Like |Link to Comment
  • Record Highs For U.S. Trade [View article]
    You will never convince me that running a trade deficit ever year since 1975 has been good for the American people or the American economy. You remind me of the guys who get excited about industrial production when it is up .01% in a given month. They jump for joy and say, "look, look, we still make things!!!" Pathetic. The only good news is that the trade deficit should shrink over the next 15 years as a percent of GDP as America becomes the energy king and the natural gas exporter to the world...
    Feb 13 07:28 AM | Likes Like |Link to Comment
  • Amazon Incarnate: Bezos The Book Giant Is Planning A Store In Seattle [View article]
    The iPad and every copy cat device like it come with an e-reader. Why buy the Kindle when you can buy an iPad or like device? Why be stuck in the Kindle eco-system? Amazon is one of the most over priced stocks you can find. If it were valued using the same metrics that are used to value Apple it would be a sub $30.00 stock. Amazon has some of the worst margins I have ever seen. They net about 1.31 cents for every dollar in revenue. Pathetic.
    Feb 7 07:00 AM | Likes Like |Link to Comment
  • The Impact of Technology: Unemployment May Be More Stubborn This Time [View article]
    America is running a 650 billion a year trade deficit. We have not had a trade surplus since 1975. Unemployment is so high because this deficit has gone from under 1% of GDP in the early 1990's to nearly 6% of GDP in 2011. Want to get the unemployment rate under 5%? Fix the trade deficit! Re-think the WTO, NAFTA, etc. America is employing the world via our consumption. When does it end? Forget the argument about foreign aid. The real aid we give the world is in the trade deficit!
    Jan 14 06:07 PM | 2 Likes Like |Link to Comment
  • Prospects 2012: U.S. Economy Should Continue To Recover Slowly, But Risk Of Renewed Recession Remains [View article]
    From the Ecopnomic Collapse Blog:

    The following are 50 economic numbers from 2011 that are almost too crazy to believe....

    #1 A staggering 48 percent of all Americans are either considered to be "low income" or are living in poverty.

    #2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be "low income" or impoverished.

    #3 If the number of Americans that "wanted jobs" was the same today as it was back in 2007, the "official" unemployment rate put out by the U.S. government would be up to 11 percent.

    #4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

    #5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.

    #6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

    #7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

    #8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.

    #9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

    #10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

    #11 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.

    #12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. In July, only 81.2 percent of men in that age group had a job.

    #13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

    #14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.

    #15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.

    #16 As the economy has slowed down, so has the number of marriages. According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married. Back in 1960, 72 percent of all U.S. adults were married.

    #17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.

    #18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.

    #19 Nevada has had the highest foreclosure rate in the nation for 59 months in a row.

    #20 If you can believe it, the median price of a home in Detroit is now just $6000.

    #21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant. That figure is 63 percent larger than it was just ten years ago.

    #22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.

    #23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.

    #24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

    #25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.

    #26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

    #27 If you can believe it, one out of every seven Americans has at least 10 credit cards.

    #28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

    #29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

    #30 The retirement crisis in the United States just continues to get worse. According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

    #31 Today, one out of every six elderly Americans lives below the federal poverty line.

    #32 According to a study that was just released, CEO pay at America's biggest companies rose by 36.5% in just one recent 12 month period.

    #33 Today, the "too big to fail" banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

    #34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

    #35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

    #36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

    #37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

    #38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.

    #39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

    #40 Sadly, child poverty is absolutely exploding all over America. According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

    #41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

    #42 In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for more than 18 percent of all income.

    #43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.

    #44 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.

    #45 For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped one trillion dollars.

    #46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

    #47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.

    #48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

    #49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

    #50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
    Dec 17 10:27 AM | Likes Like |Link to Comment
  • The Bakken Oilfield: Real Oil Production Scenarios [View article]
    Personally I am glad we saved this oil for $100.00 oil instead of $2.00 oil in 1960.
    Dec 11 12:29 PM | 1 Like Like |Link to Comment
  • The U.S. Economy Will Continue To Grow [View article]
    So what if the U.S. economy continues to grow?? We need to grow at 10% a year to keep up with our rising debt. Do you think we will ever grow at 10%? Of course not! Not without massive hyperinflation or some other insane policy. The government needs to cut the budget by a third.
    Dec 10 08:01 PM | Likes Like |Link to Comment
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