Friday, July 05, 2013

The Part-Time Obozo Economy

I suppose that part-time work is better than none at all.

If you don't have to make full-time payments.... have quantity and quality components. The quantity component was good enough to convince the 10 Year the taper is imminent (if not stocks, which continue to trade dislocated from any and all fundamentals). But how about the quality? In a word: not good. In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 – an all time record high. Full time jobs? Down 240,000. And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs “quality” leading to today’s market euphoria...--ZeroHedge quoted at Malkin

Thank God Obozo is part-time, too (see below), or it might be a helluvalot worse.

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