Word of the Day: Precariat

Via Wordspy, we learn today’s new phrase:

n. People whose lives are precarious because they have little or no job security. [Precarious + proletariat.]

Example Citations:

This is echoed by the handful of other academics who are dipping their toes into the murky psychological depths where liberal values and baser instincts collide. The economist Professor Guy Standing, for example, who has charted the slide away from altruism and tolerance among that large group of stressed, job-insecure Britons he dubs the “precariat“.

—Bill Tuckey, “Liberals: The secret elitists,” The Independent, December 13, 2010
Britain is not far behind, with a raft of newly minted “teaching fellowships” and the proliferation of short-term, part-time teaching positions, contracted on an hourly paid basis, in which PhD students or new postdocs are charged with delivering mass undergraduate programmes, with little training, inadequate support and rates of pay that can make cleaning and catering work seem like attractive options. Young and “early career” academics (a designation that can nowadays last across one’s entire career) may become emblematic of the newly emerging global “precariat” that Ross discusses.
—Rosalind Gill, “Employment, but without benefits,” The Times Higher Education Supplement, March 4, 2010

Category: Economy, Employment

Job gains here but still at pace below where it should

Feb Payrolls rose by 192k, 4k less than expected but private sector job gains totaled 222k, 22k above forecasts. To smooth the influence of bad weather in Jan, payrolls averaged 128k over the two months and 145k in the private sector. It’s certainly an improvement but still lackluster at this stage of an economic rebound….Read More

Category: MacroNotes

Chart of the Day: Components of the Gasoline Price

Traveling in California today we witnessed $4.00 gas and prompted us to think what makes up the price.  We constructed the following chart from a U.S. Energy Information Agency (E.I.A.)  time series. Notice in May 2001 the crude component of a $1.71 gallon of gas was 35 percent of the price versus 76 percent during the…Read More

Category: Energy, Think Tank

NFP: Likely Improvement May Lead to End of QE, ZIRP

By the numbers: Consensus for monthly BLS payroll data are gains in the 200k level (survey forecasts 100,000 to 297,000). This follows an increase of 36,000 workers in January, with many blaming winter storms for depressing hiring. Expectations are for Unemployment to tick up from 9% to to 9.1% as more job seekers enter the…Read More

Category: Employment, Federal Reserve

What a schmuck: The worst central banker in the history of planet earth has a something new to say: U.S. government “activism” — fiscal stimulus, housing subsidies and new regulations — is holding back the economic recovery. No word on how his central bank activism — ultra-low rates, radical deregulation, and nonfeasance of his regulatory…Read More

Category: Bailouts, Federal Reserve, Really, really bad calls

Washington’s Blog strives to provide real-time, well-researched and actionable information.  George – the head writer at Washington’s Blog – is a busy professional and a former adjunct professor. ~~~ For years, I’ve been writing about the long-term decline of the Dollar, and the rise of the Chinese Yuan … and it’s potential to become the…Read More

Category: Currency, Think Tank

TDS: Teachers vs Wall Street

Crisis in the Dairyland – For Richer and Poorer

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Crisis in the Dairyland – For Richer and Poorer
Daily Show Full Episodes Political Humor & Satire Blog The Daily Show on Facebook

Scott Walker puts the public sector unions — and particularly teachers — on notice that the gravy train is over. (03:03)

March 3, 2011

Category: Humor, Video

Worldwide Mobile Operating Systems

Mega graphic! click for mind-blowingly ginormous graphic Paid Content via Social Media Graphics

Category: Digital Media, Technology, Weekend

Sam Zell to Carl Quintanilla: BULLSHIT!

As tweeted earlier today, crusty old Sam Zell — wrong on residential real estate, wrong on the Chicago Tribune, yells BULLSHIT to Carl Quintanilla at the 4:27 mark: (Thurs. Mar. 3 2011 | 7:36 AM ET)

Zell’s View: Commercial Realty
Sam Zell, chairman Equity Investments, says the supply of commercial realty is low, and he doesn’t expect to add any new commercial real estate projects in next few years.

Category: Video

Gasparino: Spitzer Caused the Financial Crisis

I like Charlie Gasparino. I really do. He used to be a sharp elbowed, hard nosed WSJ reporter that dug for stories. Blood on the Street: The Sensational Inside Story of How Wall Street Analysts Duped a Generation of Investors remains a great read. But like many pundits on the right, he simply has a…Read More

Category: Bailouts, Derivatives