dífhostaíocht

Blowback féideartha Ó Hike Pá Íosta Chicago

In case you haven’t heard, the City of Chicago just approved a minimum wage hike for all workers in the city. From the Mayor’s Press Office on December 2:

Mayor Emanuel, City Council Approve Ordinance to Increase Minimum Wage in Chicago to $13 ag 2019

City Council today passed an ordinance that will raise the minimum wage for all Chicago workers to $13 per hour by 2019. This measure, sponsored by Mayor Rahm Emanuel, Alderman Will Burns, Alderman Pat O’Connor and 31 other aldermen, will increase the earnings for approximately 410,000 Chicago workers, inject $860 million into the local economy, and lift 70,000 workers out of poverty…

Ar Nollaig 1, Mayor Emanuel and a group of Aldermen introduced a substitute ordinance based off of Senator Kimberly Lightford’s bill that gets the City of Chicago to a $10 minimum wage in roughly seven months, ar $11 minimum wage by 2017, and to a final minimum wage of $13 ag 2019, plus inflation increases after 2019.

Pearsanta, I interpret the hike as merely an election-year ploy to help Rahm Emanuel and the siting aldermen in the upcoming February 24, 2015, Municipal General Election in Chicago. Consider the following from Joseph Erbentraut on the Huffington Post website Tuesday:

The fast-tracked plan, one of three wage-increase proposals considered by city officials this week, is backed by Mayor Rahm Emanuel in what some critics say is a political move designed to win favor with left-leaning Chicago voters ahead of the February 2015 mayoral election...

(Nóta an Eagarthóra: Trom breise i gcás béim)

While it’s nice to think a number of Chicago workers will be getting raises, the potential blowback could be significant. And Chicago residents may be on the receiving end. Back on June 22, 2014, I was reading the latest issue of The Sovereign Society’s weekly electronic publication the Fhlaitheasacha Achoimre. Jeff Opdyke and Erika Nolan commented on the nationwide push for minimum wage hikes. They noted:

All over the country, unwise politicians are pushing a misguided “living wage” agenda that’s driving minimum wages higher. Seattle, mar shampla, just recently approved a $15-per-hour minimum, which is already biting the city in the butt in two ways. An Chéad, as I and anyone with two brain cells to rub together rightly pointed out, companies are finding that low-level managers now want pay raises, ró-, to rightly keep their pay commensurately above the people they’re managing. Doh! And other companies are imposing a “living wage tax” on consumers to cover the rising labor costs. As both of those trends spread — and they will — a form of inflation creeps into the system more broadly.

(Nóta an Eagarthóra: Trom breise i gcás béim)

As the above relates to the “Windy City”- Chicagoans should be prepared to pay higher prices for certain items/services.

There’s one more way Chicago residents may be impacted directly and adversely by the minimum wage hike. Sparing readers the simple economics involved with Tuesday’s action down at City Hall, a number of Chicago business owners- realizing now or later the disadvantage they’re at compared to competitors outside city limits- will be shuttering their stores shortly or down the road- either by choice or not- as a result of this hike.

Shuttered businesses= lost revenue via fees/taxes for the City

Something else to chew on. The country is just about due for an economic recession (against which the government and Fed have mostly run out of “bullets” due to the economic crisis late last decade). Forcing raises on a number of Chicago businesses still smarting from the so-called “Great Recession” could be a death sentence for them.

As for those workers in the city who will supposedly benefit from the minimum wage hike? Ar an drochuair, pink slips could be a real possibility for a number of them.

Go hachomair, there’s a good chance the City of Chicago, Cónaitheoirí chicago, and minimum wage workers in the city are ultimately going to get stung by Tuesday’s political theater. And the pain could be coming sooner than later. Just don’t expect City Hall and their friends in the mainstream media to publicize the debacle if/when it goes down.

Ag Christopher E. Cnoc
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

Foinse:

Erbentraut, Joseph. “Chicago City Council Approves Plan For $13 Minimum Wage Despite Opposition.” Huffington Post. 2 Nollaig. 2014. (http://www.huffingtonpost.com/2014/12/02/chicago-minimum-wage_n_6255436.html). 3 Nollaig. 2014.

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Flashes Geilleagar Comharthaí Rabhaidh Domhanda

Tá mé ag piocadh suas ar fás ar líon na “vibes dona” mar gheall ar an ngeilleagar domhanda na laethanta.

An Chéad, Rich Miller tuairiscíodh ar an láithreán gréasáin Bloomberg Déardaoin mar gheall ar thorthaí na dhéanaí Bloomberg Domhanda Poll infheisteoirí idirnáisiúnta:

The world economy is in its worst shape in two years, with the euro area and emerging markets deteriorating and the danger of deflation rising, according to a Bloomberg Global Poll of international investors.

A plurality of 38 percent of those surveyed this week described the global economy as worsening, more than double the number who said that in the last poll in July and the most since September 2012, when Europe was mired in a recession.

Much of the concern is again focused on the euro area: Almost two-thirds of those polled said its economy was weakening…

Europe isn’t the only source of concern in the global economy, according to the quarterly poll of 510 investors, traders and analysts who are Bloomberg subscribers. More than half of those contacted said conditions in the BRIC economies — An Bhrasaíl, Rúis, India agus an tSín — ag dul in olcas, i gcomparáid le 36 faoin gcéad a dúirt amhlaidh i mí Iúil.

(Eagarthóir: Trom breise i gcás béim)

Deonaithe, tá sé ach vótaíocht. Ach níl freisin seo ó Phríomh-Aire na Breataine David Cameron i bpíosa penned sé gur foilsíodh ar The Guardian (Ríocht Aontaithe) láithreán gréasáin Dé Domhnaigh:

Sé bliana ar aghaidh ón timpiste airgeadais a thug an domhan ar a ghlúine, soilse rabhaidh dearg ag flashing arís ar an Painéal na nIonstraimí an gheilleagair dhomhanda.

Mar a bhuail mé ceannairí domhanda ag an G20 i Brisbane, bhí na fadhbanna simplí a fheiceáil. Tá an limistéar euro teetering ar an á thuar tríú cúlú féideartha, le dífhostaíocht ard, fás ag titim agus an baol fíor praghsanna ag titim ró. Margaí atá ag teacht, a bhí an tiománaí fáis sna céimeanna luath de a ghnóthú, ag cur moille anois. In ainneoin an dul chun cinn i Bali, cainteanna trádála domhanda a bheith stop tagtha le linn an eipidéim de Ebola, conflict in the Middle East and Russia’s illegal actions in Ukraine are all adding a dangerous backdrop of instability and uncertainty…

(Nóta an Eagarthóra: Trom breise i gcás béim)

Cameron added the following, which I thought was pretty funny (disturbing?):

When we faced similar problems in recent years, too many politicians offered easy answers, thinking we could spend, borrow and tax our way to prosperity. Those were the wrong answers then; they are the wrong answers now. We are not going to repeat the mistakes of the past…

(Nóta an Eagarthóra: Trom breise i gcás béim)

Sound like any country you know?

Ar deireadh, exacerbating fears about global economic health was the following “shock” announcement. Mitsuru Obe and Eleanor Warnock reported on An Wall Street Journal láithreán gréasáin seo ar maidin:

Japan Falls Into Recession

Japan’s economy shrank for a second quarter in a row, tar éis méadú díolacháin-cháin ghlac an gaile as tairiscint Príomh-Aire Shinzo Abe 's dul tSeapáin i múnla domhanda athbheochan.

An tUasal. Abe, a d'iarr a athbheochan tríú-is mó eacnamaíocht an domhain tar éis dhá scór bliain den chuid is mó sluggish, leagtha a fhógairt an tseachtain seo go mbeidh sé moill pleananna a ardú ar an náisiúin díolacháin cánach an bhliain seo chugainn agus toghcháin glaoch i mí na Nollag ...

"Dhá scór bliain den chuid is mó sluggish"

Amhras roinnt airgid-cineálacha ndáiríre geal is a dtugtar "geilleagar zombie" na Seapáine cad sa deireadh i ndán do Mheiriceá. Cé go bhfuil aon amhras orm faoi U.S teacht. tuairteála eacnamaíoch, Táim fós beagán níos dearfaí do ionchais na tíre ar teacht chun cinn as an carnage teacht.

Fan tiúnta ...

Ag Christopher E. Cnoc
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

Foinsí:

Cameron, David. "David Cameron: Red lights are flashing on the global economy.” The Guardian. 16 Samhain. 2014. (http://www.theguardian.com/commentisfree/2014/nov/16/red-lights-global-economy-david-cameron). 17 Samhain. 2014.

Miller, Rich. “World Economy Worst in Two Years, Europe Darkening, Deflation Lurking: Global Investor Poll.” Bloomberg.com. 13 Samhain. 2014. (http://www.bloomberg.com/news/2014-11-13/world-outlook-darkening-as-89-in-poll-see-europe-deflation-risk.html). 17 Samhain. 2014.

Obe, Mitsuru and Warnock, Eleanor. “Japan Falls Into Recession.” An Wall Street Journal. 17 Samhain. 2014. (http://online.wsj.com/articles/japan-falls-into-recession-1416182404). 17 Samhain. 2014.

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Lucht an dlí Illinois Stáit a 'Deisigh’ $100 Billiún Ghéarchéime Pinsean Poiblí Dé Máirt?

Dé Máirt Breathnaíonn a bheith ina lá tábhachtach do thodhchaí Illinois.

Féadfaidh lucht an dlí Stáit vótáil ar reachtaíocht a “shocrú” poiblithe go maith $100 billiún géarchéime poiblí pinsin. Rick Pearson agus Bob Secter scríobh ar an Chicago Tribune inné láithreán gréasáin:

Illinois lawmakers return to Springfield on Tuesday to consider an agreement struck by legislative leaders that aims to fix the state’s massive government worker pension as Senate Democrats have become the focal point for intensive lobbying efforts

Is é an vóta pinsin a mhúnlú suas le bheith ar cheann de na vótaí is tábhachtaí de lucht an dlí’ gairmeacha, le Seanadóirí agus ionadaithe iachall chun cinneadh a bhfuil níos fearr as a gcuid polaitiúil féin-ús: Tacaíocht suas a gceannairí cumhachtach nó taobhlach leis an fhéadfadh atoghadh ceardchumainn fhostaí poiblí.

Ag gceist Tá Illinois’ $100 billiún easnamh pinsin a théann i bhfeidhm do mhúinteoirí lasmuigh de Chicago, fhostaithe ollscoile poiblí agus oibrithe rialtas stáit. Is é an t-easnamh is measa-i-an-náisiún gobbling suas airgead cánach a d'fhéadfadh dul go ar shlí eile oideachais agus cláir eile, agus mar thoradh air Illinois a bhfuil an rátáil chreidmheasa is ísle i measc na stáit. Illinois’ pension problem also is being blamed in part for the state’s struggling economy and high unemployment.

Shroich na ceannairí ar chomhaontú ar an lá roimh mar aidhm Altaithe ag shábháil an stát $160 billon thar 30 na blianta a fháil ar na córais pinsean maoinithe go hiomlán, den chuid is mó trí theorainn a méaduithe bliantúla costas-de-maireachtála agus ardú na haoise scoir ach a éilíonn chomh maith leis an stát a chur ar a scair de airgid isteach sa chóras.

Ní nach ionadh, beneficiaries of the current setup aren’t too happy with these rapidly-unfolding developments. Francine Knowles a tuairiscíodh ar an Chicago Sun-Times inné láithreán gréasáin:

Tá sonraí na déileáil phinsin bainte amach ag ceithre ceannairí Teach agus Seanad agus i gceannas ar vóta an tseachtain seo lucht tacaíochta agus léirmheastóirí i mód phreas lán-chúirt.

Ceannairí aontas, atá ag pléascadh an comhaontú, rá go mbeidh a gcuid comhaltaí bombard lucht an dlí Dé Luain, inar áitíodh ar iad a mharú an bille atá beartaithe a d'fhéadfadh a Slais ar deireadh $160 billion from the state’s future pension liabilities and improve Illinois’ damaged creditworthiness.

Opponents of the yet-to-be-seen legislation will argue that it’s unconstitutional, i measc rudaí eile,. Pearson agus Secter breise:

Os comhair aon phacáiste deiridh ceadaithe ag an reachtas agus gobharnóir dúshlán dlíthiúil beagnach áirithe. Beidh Léirmheastóirí dul isteach sa chúirt armtha le foráil de chuid na 1970 Illinois Bunreacht a shainmhíníonn sochair pinsin mar “caidreamh conarthach inchurtha i bhfeidhm” go “Ní bheidh a bheith laghdaithe nó lagaithe.”

I’m not sure what to make of all this yet, ach amháin go bhfuil an cúrsa i láthair go bhfuil an Stát maidir le pinsin san earnáil phoiblí neamh-inbhuanaithe (cáiníocóirí a chosnaíonn $5 milliún in aghaidh an lae mar mé faoi ​​deara ar ais ar an Deireadh Fómhair 21) agus go bhfuil aon reachtaíocht a rith a bheidh deireadh suas is dócha a bheith san iomaíocht ó thaobh dlí.

Tuilleadh Dé Céadaoin…

Foinsí:

Pearson, Rick agus Secter, Bob. “Seanad Páirtí Daonlathach faoi na gunna ar shocrú pinsin atá beartaithe.” Chicago Tribune. 30 Samhain. 2013. (http://www.chicagotribune.com/news/local/ct-Illinois-aoisliúntas-athchóiriú-bhuail-1201-20131201,0,7850446.story). 1 Nollaig. 2013.

Knowles, Francine. “Os déileáil pinsin pushback ó na ceardchumainn; backers a shaothrú vótaí.” Chicago Sun-Times. 30 Samhain. 2013. (http://www.suntimes.com/24073242-761/pension-déileáil-aghaidheanna-pushback-ó-ceardchumainn-backers-shaothrú-votes.html). 1 Nollaig. 2013.

Ag Christopher E. Cnoc
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Earnáil Phoiblí Illinois 'Double-Tumtha’ Spriocdhírithe

“Double-tumadh.” Nuair a tharraingt fostaithe poiblí san earnáil phoiblí paycheck poiblí agus ag tarraingt pinsean poiblí ag an am céanna.

Ar ais nuair mé mar státseirbhíseach, ach ní raibh mé a fheiceáil an áit seo ag cur, ach amhras go mbeadh an socrú a thagann faoi dóiteáin ar cheann de na laethanta.

Mar a ídiú airgeadas Phríomhshráid go suntasach i ndiaidh an ngéarchéim eacnamaíoch tógadh a cheann ghránna cúig bliana ó shin, Éisteadh níos grumbling thar an gcleachtas. Mé blogged ar ais ar Aibreán 4, 2011:

Tá socrú fostaíochta chonaic mé le linn mo laethanta mar státseirbhíseach ag teacht faoi dóiteáin méadaithe na laethanta. Bloomberg s David Mildenberg Scríobh Márta 29:

Le U.S. meánú dífhostaíochta 8.9 faoin gcéad, sin ar a dtugtar dúbailte-dipping ag na mílte agus na mílte oibrithe rialtas na tíre atá ag tarraingt grinnscrúdú ag méadú.

Lucht an dlí ó chósta go cósta ag glacadh céimeanna chun srian a chur leis an gcleachtas agus aghaidh stáit easnaimh comhcheangailte réamh-mheasta ag $112 billiún agus neamh-mhaoinithe dliteanais pinsin de oiread agus is $3 trilliún.

Arkansas cosc ​​ar dúbailte-dipping ag oibrithe stáit mhí seo caite, cé go billí chun srian a bhfuil sé ar feitheamh os comhair lucht an dlí i Olympia, Washington, agus Trenton, New Jersey.

Agus ansin níl Illinois, Is nuair is double-dipping a cheadaítear fós i stát saddled le beagnach $100 billiún neamhchistithe dliteanas pinsin poiblí.

B'fhéidir gur le haghaidh nach bhfuil i bhfad níos faide cé go.

Cuir isteach Illinois Ionadaí Stáit Jack D. Frank (D-Woodstock). An Bille um Teach Illinois Ionadaí Franks tugtha isteach 3760, an “Ciallaíonn Scoir An tAcht Scoir,” ar Samhain 14. Natasha Korecki a tuairiscíodh ar an Chicago Sun-Times láithreán gréasáin lá atá inniu ann:

[Ionadaí Franks] deir go mbeadh an reachtaíocht i ngleic aon duine - ó lucht an dlí stáit feitheoirí scoil dóibh siúd i forfheidhmiú an dlí a théann ar scor ó phost poiblí amháin mar atá siad maxed amach ar a bpinsean, ansin post phoiblí eile mar a thosaíonn siad chun sochair phinsin a tharraingt.

Franks Luaigh feitheoirí scoile agus taoisigh póilíneachta a théann ar scor ar an Aoine amháin a thabhairt ar ais ar an Luan seo a leanas le teideal nua, tuarastal nua - agus a tharraingt inphinsin fad agus ag fanacht san oifig chéanna.

"Feicim a lán de na daoine a théann ar scor agus díreach deireadh suas i post rialtais eile gairid ina dhiaidh sin,"A dúirt Franks an Sun-Times. "Ní Sin an méid a bhí an córas seo atá deartha le haghaidh, ach tá sé ar loophole mór go mbíonn siad in ann leas a bhaint as… Táimid ag dul i ndiaidh na mí-úsáideoirí - agus tá a fhios againn a tá muid ag caint faoi. Tá cuid de na guys a dhéanamh níos mó ná an t-uachtarán ar scor. "

Lucht tacaíochta “double-tumadh” mhaíomh go duine éigin Tá a bheith fostaithe a líonadh an oscailt post, mar sin d'fhéadfadh sé chomh maith a bheith ag an iarrthóir cáilithe is fearr ag cur isteach ar an bpost- i go leor cásanna go bhfuil an bpinsinéir nua.

Léitheoireacht thar an reachtaíocht bheartaithe, “double-tumadh” Breathnaíonn go mbeadh cosc ​​ach amháin ag dul ar aghaidh. Feiceáil Illinois pinsinéirí san earnáil phoiblí atá ag glacadh páirte cheana féin i socrú den sórt sin a bheith sábháilte.

Chun anois, ar a laghad,.

Is féidir leat tuilleadh a fháil amach faoi Bill Teach Illinois 3670 ar shuíomh gréasáin Illinois Tionól Ginearálta anseo.

Foinse:

Korecki, Natasha. “Pinsin poiblí agus tuarastal 'double-dippers' dírithe i bhille nua.” Chicago Sun-Times. 19 Samhain. 2013. (http://www.suntimes.com/23845706-761/public-pension-and-salary-double-dippers-targeted-in-new-bill.html). 19 Samhain. 2013.

Ag Christopher E. Cnoc
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Farewell, Illinois Businesses And Jobs

One topic I particularlyharp on” i Marthanais Agus Rathúnas is the continued erosion of business-friendly conditions in the state of Illinois.

Whether it be a misguided anti-Bunreacht, anti-Bill of Rights crusade that drives off gun manufacturers and their workers46 percent corporate income tax hike that was implemented at the beginning of 2011, parochial-minded politicians in control of the state are scaring away prospective and existing businesses and jobs.

Thankfully, it’s not just me that recognizes the nonsense that’s going on. From my Sunday paper this morning:

Scott Stantis
Chicago Tribune
Deireadh Fómhair 19, 2013
AON CARACHTAR ANSEO

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Jim Rogers: ‘Possible That Gold Will Go To Between 900 and 1,000’

Ar Meán Fómhair 18, infheisteoir, údar, and financial commentator Jim Rogers chatted with host Lauren Lyster of Yahoo! Finance’s The Daily Ticker. Gold was one of the topics they discussed. Óna malairte:

LYSTER: What about gold? Because you were dead on. You said gold could go to 1,200, gold could go to 1,100, it’s a 12-year bull market, that’s not normal. It did exactly that. It went to about 1,200. Now it’s above 13. Where do you think it goes though? Because you also said that it really needed to shake out all the faithful diehards. That it can go as low as 900- a 50 percent correction wouldn’t bee abnormal. So do you think gold still has a lot lower to go?
ROGERS: Bhuel, I’m delighted you remember. My goodness. Wow, I’m very impressed. Is ea, I have not bought gold- fós. Ciallaíonn mé, I bought a little bit when it was at 1,200, in case. Ach, i mo thuairim, it’s likely, it’s probable, it’s even, well let’s say, possible that gold will go to between 900 agus 1,000. Má dhéanann sé, if it does, Tá súil agam go bhfuil mé cliste go leor chun a cheannach a lán níos mó.

Lyster went on to say:

A lot of the bearish predictions that had people buying gold haven’t played out and don’t seem to be on the horizon anymore.

Ar an drochuair, it sounds like Lyster has been partaking in the Kool-Aid being doled out by the politicians and central bankers.

Based on a waffling “recovery” marked by a federal funds rate fós near zero, years of trillion-dollar federal budget deficits, a $16.7 trillion federal borrowing limit being reached, significant part-time as opposed to full-time national job creation, an unemployment rate falling because Americans are giving up looking for work, and the Fed’s refusal to take away the punch bowl just yet and sustain the massive money printing going on, one could argue that gold’s fundamentals not only remain intact, but keep getting stronger.

Bearish predictionshaven’t played out and don’t seem to be on the horizon anymore.” Hogwash. The threats to our economy and larger financial system that made themselves known during the “Panic de ’08 still linger on 5 years later and have never been resolved- only papered-over for the time being.


“Gold Rallies on Fed’s Taper Delay: Jim Rogers Forecasts a Drop to $900 Ahead”
Yahoo! Airgeadas Video

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

(Nótaí don Eagarthóir: Eolas leanas le "Crash fáithe" leathanach; Níl mé freagrach as aon dliteanas pearsanta, caillteanas, nó riosca a thabhaítear mar thoradh ar an úsáid agus cur i bhfeidhm, go díreach nó go hindíreach, d'aon fhaisnéis i láthair anseo.)

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Chicago-Area Unemployment Rate Rises To 9.7 Percent In July

There was good and bad news yesterday for the Chicago metro area concerning employment. An Chéad, the good. From a Thursday news release on the Illinois Department of Employment Security website concerning jobs and payrolls in July 2013:

Jobs increased in four metros and declined in eight. Largest increases: Champaign-Urbana (+2.4 faoin gcéad, +2,400), Chicago-Joliet-Naperville (+1.9 faoin gcéad, +69,800), and Kankakee-Bradley (+0.5 faoin gcéad, +200). Industry sectors increasing in the most metros: Leisure and Hospitality (eight of 12) and Educational and Health Services (seven of 12).

69,000 more jobs in July for the Chicago area compared to a year ago. Good to hear.

And the bad? Also from that release:

July local unemployment rates fell in seven of 12 metro areas, according to preliminary data released today by the Illinois Department of Employment Security (IDES). Not seasonally adjusted data compares July 2013 go dtí mí Iúil 2012. Largest decreases: Metro East ( 1.0 point to 8.6 faoin gcéad), Lake County (-0.4 a 8.4 faoin gcéad) and Rockford ( 0.3 a 11.4 faoin gcéad). Largest increases: Decatur (+1.9 points to 13.2 faoin gcéad), Peoria (+1.4 a 9.4 faoin gcéad), Danville (+1.2 a 11.8 faoin gcéad) and Chicago-Joliet-Naperville (+0.3 a 9.7 faoin gcéad).

The Chicagoland unemployment rate increased .3 percent last month to 9.7 percent when compared to July 2012. Not so good.

And even though local unemployment rates fell in a number of metro areas across the “Land of Lincoln” last month, when Illinois was matched up against the other 50 stáit, it had the second highest unemployment rate in the country- 9.2 faoin gcéad- after Nevada (9.5 faoin gcéad).

According to the U.S. Department of Labor, Bureau of Labor Statistics website, 8 states had an unemployment rate under 5 percent last month – Iowa (4.8 faoin gcéad), Utah, Vermont, Wyoming (go léir 4.6 faoin gcéad), Haváí (4.5 faoin gcéad), Nebraska (4.2 faoin gcéad), Dakota Theas (3.9 faoin gcéad), and North Dakota (3.0 faoin gcéad)

Neighbors Wisconsin and Indiana came in at numbers 20 (6.8 faoin gcéad) agus 39 (8.4 faoin gcéad), faoi ​​seach.

You can read the entire IDES new release on their website anseo.

You can view the July 2012 unemployment rates for all 50 states on the BLS website anseo.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Dé hAoine, August 23rd, 2013 Fostaíocht No Comments

Chicago Mayor Rahm Emanuel ‘Has The Toughest Job In America’

If you haven’t noticed, I find myself blogging about a lot of depressing crap. That’s not my intention- it just goes with the territory of talking about the subject material I do in this day and age. People who know me know that I look forward to when I can blog about brighter days. They’re out there- but there’s an unavoidable storm to be had first. Especially in the city of my birth and former residence- Chicago. And when I talk of the woes the Midwestern metropolis faces, I’m not making this stuff up. Mar mé blogged ar ais ar Iúil 24:

There should be no doubt that I predict tough times ahead for the city. But it’s not just me who harbors such suspicion. Even the Chicago FOX affiliate, Channel 32 Nuacht, is running a series called “Chicago at a Tipping Point” these days.

When putting together that post, I told myself I’d have to explore this “Tipping Point” series. The FOX 32 website has more information about it, and this is what it says on the sidebar of its designated leathanach gréasáin:

The Problems

Chicago Mayor Rahm Emanuel has the toughest job in America—rescuing one of the country’s most attractive and largest cities from disaster. Among its problems:

Airgead: Potentially catastrophic tax increases loom due to hundreds of billions of dollars in unfunded public employee pension liabilities. Public employee union leaders have launched increasingly desperate counter-attacks on once-friendly Democratic Party politicians. Those politicians are moving to reduce public employee retirement benefits and other costs because taxpayers cannot afford them.

Schools: One consequence: facing an estimated $1 billion budget shortfall, the Board of Education just voted to close 49 under-performing schools. The vast majority lie within the gang/drug zone that families and business are fleeing as fast as they can. The president of the Chicago Teachers Union routinely denounces the school closings by accusing Mayor Emanuel of being aracist” agus “murderer.It might be laughable were it not so disgusting and potentially destabilizing.

Coireacht: Police claim 80% of the Chicago’s murders are driven by drug-dealing street gangs with billions of dollars in annual revenue and an estimated 100,000 members or sympathizers. Until that contagion is cleansed, those neighborhoods will see little if any private sector investment or job growth and continued residential flight. The street gang population plays into the concerns over crime as well as the closing of schools in gang infested neighborhoods. To many, it appears Chicago Police do not have control over these neighborhoods.

Jobs: Metro Chicago’s dismal 9.5% unemployment rate ranks 315th in the US, just barely ahead of #327 metro Detroit. Factory jobs that remain are increasingly automated and intellect-intensive. Ford Motor Co’s South Side Assembly plant at 126th & Torrence prefers to hire workers with at least two years of college. High school dropouts can’t even find work in a factory any more. It is Chicago’s shame that so few in these dying neighborhoods have sufficient skills to enable them to move Downtown.

Dismal stuff. Dála an scéil, on that last point about jobs, the Chicago area unemployment rate has climbed up to 10.3 percent according to the Illinois Department of Employment Security.

Mar a dúirt mé, I don’t make this up.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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4 Out Of 5 U.S. Adults Suffer ‘Economic Insecurity’ During Their Lives

Quite a few financial news websites I dropped by this weekend were buzzing about a just-released Associated Press article that said 4 as 5 American adults wrestle with “economic insecurity” during their lives. From the CBS News website yesterday:

Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. eacnamaíocht, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.

According to the AP piece, economic insecurity is defined as “a year or more of periodic joblessness, reliance on government aid such as food stamps or income below 150 percent of the poverty line.” The risk is currently at 79 faoin gcéad, but the current widening income inequality gap suggests that by 2030, close to 85 percent of working-age adults will experience such hardship.

Chomh maith leis sin, the AP article talked about poverty America today. According to the Associated Press:

Nationwide, the count of America’s poor remains stuck at a record number: 46.2 milliún, nó 15 percent of the population, due in part to lingering high unemployment following the recession.

Seeing as that this article comes on the heels of Barack Obama’s “A Better Bargain for the Middle Class” speech on middle-class America’s woes last week, instead of it being an indictment of the President’s economic policies as some have claimed, perhaps its real purpose is to provide more ammunition to the White House for a renewed push on economic initiatives they’ve been championing for a while, such as wealth redistribution.

An interesting article, which you can read anseo on the CBS News website.


When you spread the wealth around, it’s good for everybody” (1:47)
“‘Joe the Plumber’” Becomes Focus of Debate”
YouTube Video

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Chicago-Area Unemployment Rate Rises To 10.3%

The Illinois Department of Employment Security released employment data for the “Land of Lincoln” yesterday.

Despite 60,700 jobs new being added in June 2013 from a year ago, the unemployment rate in the Chicago-Joliet-Naperville Metropolitan Division also increased .7 faoin gcéad go dtí 10.3 percent from June 2012.

From the IDES news release:

June local unemployment rates fell in eight of 12 metro areas, according to preliminary data released today by the Illinois Department of Employment Security (IDES). Not seasonally adjusted data compares June 2013 to June 2012. Largest decreases: Metro East ( 0.8 point to 8.2 faoin gcéad), Lake County (-0.5 a 8.2 faoin gcéad), Rockford ( 0.5 a 11 faoin gcéad), and Champaign-Urbana (-0.4 a 8.7 faoin gcéad). Largest increases: Decatur (+1.6 points to 12.5 faoin gcéad), Danville (+1.1 a 11.1 faoin gcéad), Peoria (+0.9 a 8.8 faoin gcéad), and Chicago-Joliet-Naperville Metropolitan Division (+0.7 a 10.3 faoin gcéad).

Jobs increased in five metros and declined in seven. Largest increases: Champaign-Urbana (+1.8 faoin gcéad, +1,800), Chicago-Joliet-Naperville (+1.6 faoin gcéad, +60,700), and Rockford (+0.7 faoin gcéad, +1,100). Industry sectors increasing in the most metros: Educational and Health Services (nine of 12), Financial Activities (eight of 12), and Leisure and Hospitality (seven of 12).

I know I’ve mentioned this before, but seeing as I believe the “real” financial crash I started warning about 6 years ago is still on the horizon, Marthanais Agus Rathúnas readers in Chicago and elsewhere across the country might want to think about taking advantage of an improved job market in their area if it exists- before it’s too late.

You can read the entire IDES news release on their website anseo.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Dé hAoine, July 26th, 2013 Fostaíocht No Comments

Illinois Had 57,800 More Unemployed Individuals Than Jobs Created Last Quarter

The latest employment data is out for the state of Illinois. From an Illinois Department of Employment Security news release yesterday:

The March unemployment rate was 9.5 faoin gcéad, unchanged from February, according to preliminary data released today by the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES). Mar súil leis, Illinois recorded -17,800 fewer jobs compared to February even as it added +36,600 over March 2012. The data is seasonally adjusted.

Illinois employers were expected to report fewer positions in March. Economic uncertainty nationally and abroad dampened our country’s job growth. When that happens, Illinois’ share tends to be a negative number,” IDES Director Jay Rowell said. “Monthly snapshots capture a moment in time. When those moments are evaluated together, we see progress away from a global recession and through a stubborn economic growth cycle marked by volatile swings in monthly data here and across our country.

The three-month moving average of job growth, a data point that smoothes monthly volatility and unpredictable or one time events, Léiríonn +1,100 jobs added each month so far this year.

When I crunch IDES employment numbers for all of 2013, a less rosy picture emerges. Using data from their news releases:

Eanáir 2013
Employers added 7,100 jobs
Number of unemployed individuals increased 22,900 (+4.0 faoin gcéad) a 594,800

Feabhra 2013
Employers added 12,400 jobs
Number of unemployed individuals increased 34,900 (+5.9 faoin gcéad) a 629,400

Márta 2013
Employers shed 17,800 jobs
Number of unemployed individuals increased 1,700 (+0.3 faoin gcéad) a 629,200

(Nóta an Eagarthóra: Is it just me or do some of the above numbers not jive? Ó maith, that’s IDES’s deal. I’m just crunching the numbers siad provided.)

In the first quarter of 2013, Illinois employers added a total of 1,700 jobs.

Ag an am céanna, the number of unemployed individuals increased 59,500.

Cé acu, if my math is correct, leaves the state with 57,800 more unemployed individuals than there were jobs created in the first quarter of this year.

If you’re looking for a job/looking to change jobs here in the “Tír na Lincoln,” you might want to ramp up your efforts if you aren’t doing so already.

The IDES news releases I used are located anseo, anseo, agus anseo.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Dé hAoine, 19 Aibreán, 2013 Fostaíocht No Comments

Illinois Unemployment Rate Climbs To 9.5 Percent In February

According to preliminary data released Thursday by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security (IDES), the February unemployment rate in the state of Illinois climbed to 9.5 percent from the previous month. A news release on the IDES website stated:

In February 2013, the number of unemployed individuals increased +34,900 (+5.9 faoin gcéad) a 629,400.

In January, the unemployment rate in the “Land of Lincoln” was 9.0 faoin gcéad. That number stood at 8.9 percent back in February 2012.

Go náisiúnta, an “officialunemployment rate was 7.7 percent last month.

You can read the entire IDES news release on their website anseo.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

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Dé Sathairn, 23 Márta, 2013 Fostaíocht 1 Comment

Illinois Governor’s Spokesperson: ‘We’re Facing The Worst Recession Since The Great Depression’

Reading the Chicago Tribune website last night I saw that Governor Pat Quinn will be proposing a $30 billion-plus budget this week for the State of Illinois.

An Tribune ar Ray Long provided some of the latest figures showing just how precarious the state’s financial situation really is these days:

• $96.8 billion in unfunded debt to five state pension systems
• $9.7 billiún i billí gan íoc
• 8.7 percent unemployment in December, almost a percentage point higher than the national unemployment rate
• $6.1 billion annual pension payment in the next budget year- $900 million more than in the current one

One word comes to mind. Fugly.

Then there’s this from Long’s piece:

When you’re the chief executive, you face challenges from the outside that are not of your making,” said Quinn spokeswoman Brooke Anderson. “The governor’s job is to control the things he can and manage the elements that are outside his control. But I’d say that we’ve been in a perfect storm since the moment Gov. Quinn got here. We’re facing the worst recession since the Great Depression, decades of financial mismanagement that has been culminating in the pension crisis and unpaid bills. And you have to deal with that.

“We’re facing the worst recession since the Great Depression”

What about that economic recovery Governor Quinn said was taking place here in the “Land of Lincoln?” From a February 6 article on the Tribune láithreán gréasáin:

“Do we want, in the years to come, a prosperous Illinois where working people continue to have good jobs, where businesses thrive, and where all our children have a world-class education?” Quinn told the House and Senate. “Or do we want to stop the progress and watch our economic recovery stall?"

(Nóta an Eagarthóra: Gcló iodálach breise le béim)

Let me guess. That bit about the recession is only the opinion of Quinn’s “mouthpiece.” And she’s trying to shield her boss from some blame.

Aonach leor. But the thing is, Ms. Anderson- either knowingly or unknowingly- is on to something. We may not technically be in a recession these days, but for many Illinois residents it probably doesn’t feel like much of a recovery either.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

Foinsí:

Fada, Ray. “Gov. Pat Quinn to unveil $30 billion-plus Illinois budget.” Chicago Tribune. 3 Mar. 2013. (http://www.chicagotribune.com/news/local/ct-met-quinn-budget-20130304,0,7431041,full.story). 3 Mar. 2013.

Garcia, Monique, Fada, Ray, and Guerrero, Rafael. “Quinn wants minimum wage hike, assault weapons ban.” Chicago Tribune. 6 Feabhra. 2013. (http://articles.chicagotribune.com/2013-02-06/news/chi-quinn-to-call-for-minimum-wage-increase-to-10-an-hour-20130206_1_assault-weapons-minimum-wage-pat-quinn-today). 3 Mar. 2013.

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Illinois Governor Pat Quinn Proposes Highest Minimum Wage In The U.S.

Fall 1986. I was hanging out with my older sister in her bedroom when I came across a binder for some basic economics/personal finance class that she was enrolled in at the local public high school. As I leafed through it, I thought, “This is some pretty cool stuff- I hope I get the chance to take a class like this when I’m in high school next year.” I didn’t. Not in my freshmen year or any other year. I ended up at an all-boys Roman Catholic college preparatory high school, where such material just wasn’t taught.

Latin, yes. Economics/personal finance, nach.

Ita sit (mar sin go mbeadh sé).

Go deimhin, Illinois Governor Pat Quinn also attended the same school. Both of us might have been able to benefit greatly from such instruction early on.

Perhaps one more than the other, based on a new minimum wage hike the Chicago Democrat proposed yesterday in his “State of the State” address. From Paul Merrion on the Crain Chicago Gnó inné láithreán gréasáin:

Rialtas. Pat Quinn’s call for a $10 minimum wage has created yet another firestorm for the state’s business community.

While economists question whether higher minimum wages hurt jobs and make some states less competitive than others, Illinois business leaders view the governor’s proposal as one more blow to the state’s battered business climate.

Illinois already has the fourth-highest minimum wage at $8.25 an hour, and raising it more than 21 percent over four years would put it far above Indiana or other neighboring states eager to attract Illinois companies to relocate.

According to Merrion, a minimum wage of $10 would be the highest in the country.

Supporters of Quinn’s minimum wage hike are calling it “pro-worker.”

Whether or not “higher minimum wages hurt jobsdirectly, a higher wage, in conjunction with the state’s huge fiscal mess and recent (Eanáir 2011) corporate income tax rate hike of 46 faoin gcéad, might be the last straw for Illinois companies contemplating leaving the state and kill the formation of new businesses here. By itself, the effects of the hike may not be significant. But taking everything else into consideration, the growing belief that Illinois is “anti-business” will probably be magnified by its implementation, and jobs could be impacted as a result.

Pro-worker? What good’s a minimum wage hike if jobs leave the state and new ones aren’t created?

Economics 101, my man. Economics 101.

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

Foinse:

Mhuirfean, Paul. “Quinn’s call for $10 minimum wage riles business.” Crain Chicago Gnó. 6 Feabhra 2013. (http://www.chicagobusiness.com/article/20130206/NEWS02/130209864/quinns-call-for-10-minimum-wage-riles-business). 7 Feabhra. 2013.

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Peter Schiff: Railí Stoc Margadh 'An Illusion'

Marc Faber. Jim Rogers. Peter Schiff.

Trí "fáithe tuairteála" a thuar i gceart ar an 2008 géarchéime airgeadais sna Stáit Aontaithe.

Tá mé blogged cheana féin sa lá atá inniu faoi cad Faber agus Rogers smaoineamh ar ardú US. praghsanna stoc- agus cad amhras siad go bhfuil taobh thiar de.

Cad é faoi Schiff, an POF / Príomh-Domhanda Strategist Euro Ciúin Caipitil agus POF de Euro Aigéan Ciúin Miotail Lómhara, LLC?

Óna Feabhra 1 iontráil ar an Tuarascáil Schiff YouTube blag físeán:

Bhuel an Dow Jones dúnta thuas 14,000 lá atá inniu ann. Sin rud nach bhfuil sé déanta ó mhí na Samhna 2007. Ar ndóigh, tá na meáin ag dul a dhéanamh le déileáil go mór faoi Dow 14,000, Tá an geilleagar ag teacht ar ais, na margaí atá ag teacht ar ais.

Ach, ar ndóigh, is é seo ar fad ar illusion cruthaithe ag boilsciú.

Nuair a debase tú do airgeadra- nuair a tá tú dollar go n-úsáideann tú chun praghsanna stoc thomhas teannta- ar ndóigh tá na praghsanna stoc ag dul chun dul suas. Is é an praghas de gach rud ag dul suas. Séanann an rialtas níl boilsciú. Ach praghsanna chruthú é. Mar más rud é gá dúinn fiú go. Is é an soláthar airgid ag dul suas an sainmhíniú fórsa boilscithe. Agus táimid ag cruthú a lán airgid. Agus tá praghsanna ag freagairt ag ag ardú, agus praghsanna stoc aon eisceacht.

Ach cuimhnigh, an uair dheireanach a bhí an Dow Jones ag 14,000 ar ais i '07, Ba óir faoi $700 ounce. Sa lá atá inniu, faoi ​​ór ar $1,600 ounce. Mar sin, bheadh ​​an Dow a dúbailte ó anseo, agus é a fós Ní bheadh ​​nuair a bhí sé i dtéarmaí fíor-airgead bliana cúig-agus-i-leath ó shin.

Mar sin, is é an rally ar illusion.

Ach ní dhéanann na daoine ar Wall Street ag iarraidh fiú a admháil gur.

Agus ag dul ar aghaidh? Schiff fios:

Táimid cheana féin ag 0 rátaí úis faoin gcéad, tá muid cheana féin ag 8 dífhostaíochta faoin gcéad- 14 faoin gcéad má úsáideann tú an uimhir U-6. Agus sin chomh maith mar a fhaigheann sé le linn a ghnóthú. Agus anois tá muid ag trending síos cheana féin.

Agus mo thuairimse, más mian leis an Cúlchiste Feidearálach go mall síos an t-ardú i rátaí úis- a bhfuil a fhios againn a dhéanann sé- tá sé ag dul a bheith acu chun dlús a chur leis QE. Ní dóigh liom go $85 billiún de priontáil airgid is leor chun a choinneáil ar rátaí úis ag ardú ó. Agus mar sin tá siad ag dul a bheith acu chun a phriontáil fiú níos mó. Ciallaíonn sé sin go bhfuil an dollar ag dul níos ísle. Praghsanna tráchtearraí ag dul níos airde. Breathnaíonn cad a tharla le praghsanna ola- tá siad beagnach ag $98 bairille. Féach ar Brent- Is Brent Amholaí i ndáiríre suas. Tá sé beagnach ag $20 phréimh anois níos mó ná Mhuir Thuaidh. Praghsanna óir curtha cobhsaí, ach is dóigh liom óir ar tí éirí de thalamh. I mo thuairimse, ar Wall Street a bhíonn siad ag réasúnú. Tá siad ag díol óir agus a dhíol stoic óir mar gheall ar éileamh siad go bhfuil an ghéarchéim thar, níl aon rud a imní faoi níos mó, Ní Tá an Eoraip ag titim ó chéile, an U.S. Tá geilleagar ag éirí níos fearr, mar sin níl aon chúis ór féin. Agus mar sin a dhíol tú óir agus tú a dhíol do stoic óir. Ach nach bhfuil siad tuiscint a fháil ar. Daoine nach raibh ag ceannach óir mar gheall ar an ngéarchéim na hEorpa nó mar gheall ar fiú na Stáit Aontaithe. géarchéime airgeadais. Bhí siad ag ceannach óir i bhfad sular thosaigh sin géarchéimeanna. Féach ar conas a dhéanamh óir ó 2000 a 2007, 2008. Rinne sé níos fearr roimh an ngéarchéim ná mar a rinne sé i rith na géarchéime toisc go bhfuil an ngéarchéim fíor go bhfuil imní an cheannaitheora óir géarchéim airgeadra. Ní Daoine ag ceannach óir toisc go mbíonn siad buartha faoi neamhchinnteacht polaitiúil. Tá siad ag ceannach óir mar go bhfuil na polaiteoirí priontáil airgid i bhfad ró-. Bhuel, na polasaithe airgead saor a bhí i bhfeidhm roimh an 2008 géarchéime airgeadais atá fós anseo, ach, tá sé níos measa. Tá sé níos iomarcach. Is é an beartas airgeadaíochta níos éasca. Tá na rátaí níos ísle. Bainc cheannais ag priontáil airgead fiú níos tapúla. Mar sin,, in ionad a bheith ann aon cúiseanna níos mó ór a cheannach, riamh na cúiseanna a bheith níos fearr. Ní riamh curtha cúiseanna níos mó ór a cheannach, tá sé ach nach Wall Street tuiscint a fháil ar seo go fóill. Ach beidh siad.


"Dow 14,000, OTI, Jobs, FED, boilsciú, státchistí, & ór. "
YouTube Video

Ag Christopher E. Cnoc, Eagarthóir
Marthanais Agus Rathúnas (www.survivalandprosperity.com)

(Nótaí don Eagarthóir: Eolas leanas le "Crash fáithe" leathanach; Níl mé freagrach as aon dliteanas pearsanta, caillteanas, nó riosca a thabhaítear mar thoradh ar an úsáid agus cur i bhfeidhm, go díreach nó go hindíreach, d'aon fhaisnéis i láthair anseo.)

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Christopher E. Cnoc, Eagarthóir
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