Feb 10

- About Those 2.9 Million Jobs Lost In January… (ZeroHedge, Feb 9,2014):

Much has been said about the January Non-farm payrolls number, which rose by 113K on expectations of a 180K increase, most of which has been focused on the US atmospheric conditions during the winter. There is a problem with those numbers: they don’t really exist (as for the non-impact of “the weather” on jobs we showed previously that the number of people “not at work due to weather” as calculated by the BLS itself. this winter was lower than 2008, 2009, 2010, 2011 and 2012 – so much for historic winter weather).

So what really happened in January? Continue reading »

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Feb 08

Bosnia protests - 150 injured as demonstrators set fire to presidential palace
Government buildings on fire during protests in Sarajevo (AFP/GETTY)

- Presidential Palace In Bosnia Set On Fire As Riots Break Out Protesting 40% Unemployment (ZeroHedge, Feb 8, 2014):

Another day, another European nation is hit by violent riots as protests over the economy and corruption spilled over violently into the street, this time Bosnia where more than 150 people were wounded on Friday in the worst civil unrest in the country since the 1992-95 war. The reason: anger over the dire state of domestic politics, the economic collapse and especially the country’s 40% unemployment rate. The Telegraph reports that angry protesters set fire to part of the presidential palace in Sarajevo, as well as government buildings in the capital Sarajevo, Tuzla and Zenica. At least 80 people were injured in Sarajevo and 10 in Zenica, authorities said. There were no immediate casualty figures from Tuzla, where the worst of the fighting was.

Bosnia is a relatively new entrant to the current iteration of mass protests, however judging by the severity of public anger, the country is doing its best to catch up with the rest of Europe. Continue reading »

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Feb 08

- What Happened The Last Time The Unemployment Rate Dropped This Much (ZeroHedge, Feb 8, 2014)

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Jan 25

- The Recent “New High” In Stocks Is As Bogus As The Unemployment Rate (Of Two Minds, Jan 25, 2014):

The Recent “New High” in Stocks Is as Bogus as the Unemployment Rate

This is what happens when the Status Quo is incapable of reforming itself or recognizing reality: propaganda and bogus statistics are substituted for actual solutions.

The most heavily touted statistical “proofs” that the U.S. economy is “recovering” and “growing” are the unemployment rate and the stock market. Both are completely bogus. Yes, bogus, as in phony, wrong, rigged, misleading, carefully crafted propaganda.

Continue reading »

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Jan 25

- Europe’s Modest Proposal To End Unemployment: Slavery (ZeroHedge, Jan 24, 2014)

Having spent weeks talking amongst themselves about the chronic and dangerous rise of youth unemployment in Europe (as we warned here), the Center of planning and Economic Research in Greece has proposed a controversial measure. As GreekReporter reports, the measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees. “Unpaid” work sounds a lot like slavery to us… but it gets better; the report also suggested “exporting young unemployed persons.” No comment… Continue reading »

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Jan 24

spain1

- Seven Shocking Statistics On Spain’s Surging Joblessness (ZeroHedge, Jan 24, 2014):

Spain’s unemployment rate hit 26% again this week. Despite Rajoy’s please for people to believe things are getting better, that the crisis is over (even as Draghi proclaims it otherwise and Axel Weber warns it is still festering), Spanish local ex-pat newspaper “The Local” has uncovered seven statistics that will help you understand just how serious the situation is. What is perhaps even more surreal is that in a year in which the economy supposedly grew, they depleted their pension reserve fund by 15%…

  • *SPAIN WITHDREW EU11.6B FROM PENSION RESERVE FUND IN 2013
  • Spain pension reserve fund ends 2013 With EU53.7 bln

So apart from that, here is how bad it really is in Spain… Continue reading »

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Jan 22

See also:

- RECOVERY: People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels

- RECOVERY: U.S. Workforce-Participation Rate At 35-Year Low

- The Real Unemployment Rate In The U.S. Is At Least 30%

- Fake Employment Numbers – And 5 More Massive Economic Lies The U.S. Government Is Telling You


- Wall Street adviser: Actual Unemployment is 37.2%, ‘Misery Index’ Worst in 40 Years (Government Slaves, Jan 21, 2014):

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Continue reading »

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Jan 20

- THE RETAIL DEATH RATTLE (The Burning Platform, Jan 19, 2014):

“I was part of that strange race of people aptly described as spending their lives doing things they detest, to make money they don’t want, to buy things they don’t need, to impress people they don’t like.”Emile Gauvreau

art_till

If ever a chart provided unequivocal proof the economic recovery storyline is a fraud, the one below is the smoking gun. November and December retail sales account for 20% to 40% of annual retail sales for most retailers. The number of visits to retail stores has plummeted by 50% since 2010. Please note this was during a supposed economic recovery. Also note consumer spending accounts for 70% of GDP. Also note credit card debt outstanding is 7% lower than its level in 2010 and 16% below its peak in 2008. Retailers like J.C. Penney, Best Buy, Sears, Radio Shack and Barnes & Noble continue to report appalling sales and profit results, along with listings of store closings. Even the heavyweights like Wal-Mart and Target continue to report negative comp store sales. How can the government and mainstream media be reporting an economic recovery when the industry that accounts for 70% of GDP is in free fall? The answer is that 99% of America has not had an economic recovery. Only Bernanke’s 1% owner class have benefited from his QE/ZIRP induced stock market levitation. Continue reading »

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Jan 20

- The Chart That Shows Why EU’s Barroso Is A Liar (ZeroHedge, Jan 19, 2014):

Despite record levels of unemployment across Europe (most specifically among the youth), record high (and surging) levels of loan delinquencies, and collapsing credit creation, the leaders of the EU continue to peddle their own brand of dis-information and willful blindness. While UKIP’s Nigel Farage tongue-lashings are normally enough, EU’s Barroso this morning unleashed the following:

  • *EU’S BARROSO SAYS ECONOMIC GROWTH ‘SLOWLY RETURNING’
  • *EU’S BARROSO SAYS EU AT TURNING POINT IN CRISIS

However, as the following chart of earnings estimated for European firms shows, there is absolutely none, zero, nada sign on a ‘turning point’ and, as we have noted previously, unless the EUR weakens significantly, Europe will rapidly dip back into re-re-recession once again. Continue reading »

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Jan 18

Paul-Krugman-Keynesians-Fail

- Krugman Can’t Understand How Someone Could Be So Stupid As To Believe What He Used To Believe ( The Ludwig von Mises Institute of Canada, Jan 17, 2014):

Over at CafeHayek, Russ Roberts is mystified at a recent Paul Krugman blog post. Concerning the debate over whether the US federal government should extend unemployment benefits, Krugman wrote on January 12:

There’s a sort of standard view on this issue, based on more or less Keynesian models. According to this view, enhanced UI actually creates jobs when the economy is depressed. Why? Because the economy suffers from an inadequate overall level of demand, and unemployment benefits put money in the hands of people likely to spend it, increasing demand.

Continue reading »

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Jan 13

- Chart Of The Day: Labor Force (Lack Of) Participation Or “We’ll Just Make It Up As We Go Along” (ZeroHedge, Jan 13, 2014):

By now the widely accepted groupthink on the collapsing labor force participation rate, which as we noted last Friday, cratered to a fresh 35 year low of 62.8% which was the main reason for the collapse in the unemployment rate to 6.7% from 7.3% two months ago, is that it was perfectly expected and is largely due to demographics. Sadly this is just another example of goalseeking a real-time variable to “fit” with a narrative of a recovery when in reality there is no recovery for the record 91.8 million Americans who have given up on work entirely and are now out of the labor force.  All of this is well-known. What may not be as well known is that every two years the BLS releases medium-term (10-year) projections for the participation rate. The projections include the demographic composition of the population and the LFP rates of different  demographic groups, among other statistics. And it is here that we see just how “made up” the narrative surrounding the demographic mea culpa truly is.

Continue reading »

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Jan 13

FYI.

Related info.

- RECOVERY: People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels


- The Number Of Working Age Americans Without A Job Has Risen By Almost 10 Million Under Obama (Economic Collapse, Jan 12, 2014):

That headline is not a misprint.  The number of working age Americans that do not have a job has increased by nearly 10 million since Barack Obama first entered the White House.  In January 2009, the number of “officially unemployed” workers plus the number of Americans “not in the labor force” was sitting at a grand total of 92.6 million.  Today, that number has risen to 102.2 million.  That means that the number of working age Americans that are not working has grown by close to 10 million since Barack Obama first took office.  So why does the “official unemployment rate” keep going down?  Well, it is because the federal government has been pretending that millions upon millions of unemployed workers have “left the labor force” over the past few years and do not want to work anymore.  The government says that another 347,000 workers “left the labor force” in December.  That is nearly five times larger than the 74,000 jobs that were “created” by the U.S. economy last month.  And it is important to note that more than half of those jobs were temporary jobs, and it takes well over 100,000 new jobs just to keep up with population growth each month.  So the unemployment rate should not have gone down.  If anything, it should have gone up.

In fact, if the federal government was using an honest labor force participation rate, the official unemployment rate would be far higher than it is right now.  Instead of 6.7 percent, it would be 11.5 percent, and it has stayed at about that level since the end of the last recession.

Continue reading »

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Jan 10

- People Not In Labor Force Soar To Record 91.8 Million; Participation Rate Plunges To 1978 Levels (ZeroHedge, Jan 10, 2014):

Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.

LFP Participation

And the piece de resistance: Americans not in the labor force exploded higher by 535,000 to a new all time high 91.8 million.

Not in Labor Force Dec

The jobless, laborless recovery continues to steam on.

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Jan 10

- Only 74K Jobs Added In December, Huge Miss To Expectations Of 197K: Weather Blamed (ZeroHedge, Jan 10, 2014):

So much for the recovery. Moments ago December nonfarms were revealed at just 74,000 a huge miss to expectations of 197,000 – the biggest miss Since December 2009. The drop from last month’s revised 226K was the largest since December 2010. Other notables: the change in private payrolls was a tiny 87K vs expectations of 200K. Mfg payrolls added just 9K vs 15K expected and down from 31K. Average hourly earnings for all employees rose 0.1% vs. Expected 0.2%. The good news: the unemployment rate plunged to 6.7% from 7.0%… For all the wrong reasons – the number of people not in the labor force rose to a record 91,808,000. As a reason for the plunge the BLS says there was a major weather effect seen on the forced part-time series, and notes the decline in healthcare which is rare and part of the sector slowing. Thank you Obamacare. And now bring on the Untaper. Continue reading »

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Jan 10

Related info:

- The Real Unemployment Rate In The U.S. Is At Least 30%

- Fake Employment Numbers – And 5 More Massive Economic Lies The U.S. Government Is Telling You


Work-Force Participaton Rate

- Participation rate in labor force matches 35-year low (MarketWatch, Jan 10, 2014):

Ouch.

The economy gained a meager 74,000 jobs last month, the weakest result since early 2011, according to government data released Friday morning.

Also not good: The participation rate in the labor force declined one-fifth of a percentage point to 62.8% in December, matching October’s level, which was the lowest since 1978.

The participation rate is a broad gauge of the labor-market health, showing the workforce’s share of the civilian noninstitutional population. Falling rates means that people are increasingly less likely be in the labor force — not a great sign of economic strength or confidence.

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Jan 09

European-Union

- If You Are Waiting For An “Economic Collapse”, Just Look At What Is Happening To Europe (Economic Collapse, Jan 8, 2014):

If you are anxiously awaiting the arrival of the “economic collapse”, just open up your eyes and look at what is happening in Europe.  The entire continent is a giant economic mess right now.  Unemployment and poverty levels are setting record highs, car sales are setting record lows, and there is an ocean of bad loans and red ink everywhere you look.  Over the past several years, most of the attention has been on the economic struggles of Greece, Spain and Portugal and without a doubt things continue to get even worse in those nations.  But in 2014 and 2015, Italy and France will start to take center stage.  France has the 5th largest economy on the planet, and Italy has the 9th largest economy on the planet, and at this point both of those economies are rapidly falling to pieces.  Expect both France and Italy to make major headlines throughout the rest of 2014.  I have always maintained that the next major wave of the economic collapse would begin in Europe, and that is exactly what is happening.

The following are just a few of the statistics that show that an “economic collapse” is happening in Europe right now:

Continue reading »

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Jan 08

- Spain Youth Unemployment Rises To Record 57.7%, Surpasses Greece (ZeroHedge, Jan 8, 2014):

There has been much speculation recently about some immaculately conceived Spanish economic recovery. And while it has certainly sent the local Ibex stock market soaring, we fail to see any indication of such a recovery, at least in official economic data. The latest example being, of course, today’s European unemployment for November, which at the Euroarea level remained flat at 12.1%, which also is the all time record high following a prior revision. However, what is more troubling is that according to the official European statistics keeper, Spanish unemployment in November was 26.7%: tied for the all time high seen in October and hardly an indicator of some imminent economic renaissance. There is, of course, always December – that month in the New Normal when hiring really picks up. Continue reading »

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Jan 07

See also:

- Retired Air Force Colonel With Three Graduate Degrees Is Homeless And Sleeps In A Van

- Americans React To End Of Jobless Benefits: ‘I Just Don’t Know What To Do, Except Pray’


- Jobless workers enter free fall (MSNBC, Jan 6, 2014):

The pickup truck will probably be the first thing to go.

It’s the first new car that Jeremy Botta has ever bought, using his savings from working for more than 14 years at the same auto repair shop. “I bent over backwards—I worked almost a 100 hours a week on my salary to turn that store around,” said Botta, 37, who was laid off in April after the shop changed owners.

Unemployment insurance has allowed Botta to keep up with his car and mortgage payments. But on Dec. 28, he became one of the 1.3 million unemployed Americans to lose their emergency federal benefits when Congress declined to extend the program.

Continue reading »

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Jan 07

Robert-Freniere
Robert Freniere in the van where he lives. “He’s done a lot of things. . . . He’s got the gift of gab. Very smart,” said Adm. James Hogg, who officiated at Freniere’s retirement.

- Retired Air Force Colonel With Three Graduate Degrees Is Homeless And Sleeps In A Van (Economic Collapse, Jan 6, 2014):

What advice would you give to a retired Air Force Colonel that has three graduate degrees and that cannot even find work as a janitor?  59-year-old Robert Freniere once served as a special assistant to General Stanley McChrystal, and he has spent extensive time in both Iraq and Afghanistan.  But now this man who once had an office in the heart of the Pentagon cannot find anyone who will hire him.  In addition to his story, in this article you will also hear about several other middle-aged professionals that cannot find work in this economy either.  Despite what the Obama administration and the mainstream media are telling you, the truth is that there has been no employment recovery in this country.  What you are about to read is absolutely heartbreaking, but it represents the reality of what is really going on out there in the streets of America today.

A lot of unemployed Americans believe that they cannot find work because they don’t have enough “education” or enough “experience”.  Well, the truth is that there are a whole lot of people out there like Freniere that have lots of both and still can’t even get hired as a janitor: Continue reading »

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Dec 31

- Poverty In Italy Rises To All Time High (ZeroHedge, Dec 31, 2013):

What can one say but: “because of the recovery?”

Italy-poverty

As Italy’s ISTAT reported yesterday, poverty in Italy has reached its highest level in at least 16 years “as the economic crisis has bitten, driving up unemployment and cutting wages, according to a report on social cohesion issued on Monday. Relative poverty, defined as a family of two living on a monthly income of 991 euros (847.61 pounds) or less, affected 12.7 percent of families, the highest level recorded since the current series of data began in 1997, the report by statistics agency ISTAT said.”

It was immediately unclear if this beat expectations of a 13% print, and thus was bullish for the Stalingrad and Propaganda 500.

The report, a compendium of data on issues ranging from employment to demographics, said poverty had deepened in all areas of Italy between 2011 and 2012. Relative poverty rose from 4.9 percent to 6.2 percent in the richer north and from 23.3 percent to 26.2 percent in the poorer south.

More from Reuters:

The report painted a grim picture of the impact of the country’s worst post-war recession, with joblessness at record levels, incomes squeezed and permanent, full-time employment declining. “As one of the countries most affected by the crisis, Italy registered a progressive decline in the main macroeconomic and social indicators in 2012,” Labour Minister and former ISTAT chief Enrico Giovannini said in the introduction to the report.

“Nonetheless social cohesion has held up, enabling the country to support sacrifices aimed at recovering financial stability and passing important reforms,” he said.

Well as long as “social cohesion” has held up, i.e., no civil war has broken out yet, all is well. Then again, some disagree: Continue reading »

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Dec 30

- Americans React To End Of Jobless Benefits: “I Just Don’t Know What To Do, Except Pray” (ZeroHedge, Dec 29, 2013):

It’s going to put my family and me out on the streets,” is a perspective shared by many of the 1.3 million Americans about to lose their emergency unemployment claims. The program, started during the recession, was intended to help jobless people after they exhausted state benefits, typically lasting six months. House Republicans resisted continuing the benefits without budget cuts elsewhere to cover the cost. As Bloomberg reports, opponents say the extended benefits discourage the unemployed from accepting jobs and that the program should be curtailed, given the recovery in the nation’s labor market.

Via Bloomberg,

It lacks compassion for the victims of the recession and, economically, it’s shooting ourselves in the foot,” said Lawrence Mishel, the president of the Economic Policy Institute in Washington, which backs policies that help low-income workers. “The timing is very premature. The evidence is that people who want work can’t find it.”

Continue reading »

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Dec 29

FYI.

Related info:

- 1 Million US Jobless To Lose Financial Aid



YouTube Added: Dec 27, 2013

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Dec 24

- Charts: The Worst Long-Term Unemployment Crisis Since the Depression (Bill Moyers, Dec 24, 2013):

Officially, the Great Recession of 2007 ended in June 2009. Yet the economic downturn remains in full effect for millions of Americans, particularly the nearly 40 percent of the unemployed who have been looking for work for six months or more.

In less than a week, emergency federal unemployment benefits for 1.3 million of these jobless Americans are set to run out. Proponents of ending the benefits argue that the economy is expanding and that the benefits prevent people from finding work. “You get out of a recession by encouraging employment not encouraging unemployment,” according to Sen. Rand Paul (R-KY), who opposes extending benefits. However, the data shows that while corporate America has bounced back, it is not restoring all the jobs it shed when the economy tanked five years ago.

Continue reading »

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Dec 23

New-World-Order-13

- On The 100th Anniversary Of The Federal Reserve Here Are 100 Reasons To Shut It Down Forever (Economic Collapse, Dec 22, 2013):

December 23rd, 1913 is a date which will live in infamy.  That was the day when the Federal Reserve Act was pushed through Congress.  Many members of Congress were absent that day, and the general public was distracted with holiday preparations.  Now we have reached the 100th anniversary of the Federal Reserve, and most Americans still don’t know what it actually is or how it functions.  But understanding the Federal Reserve is absolutely critical, because the Fed is at the very heart of our economic problems.

Since the Federal Reserve was created, there have been 18 recessions or depressions, the value of the U.S. dollar has declined by 98 percent, and the U.S. national debt has gotten more than 5000 times larger.  This insidious debt-based financial system has literally made debt slaves out of all of us, and it is systematically destroying the bright future that our children and our grandchildren were supposed to have.

If nothing is done, we are inevitably heading for a massive amount of economic pain as a nation.  So please share this article with as many people as you can.

The following are 100 reasons why the Federal Reserve should be shut down forever: Continue reading »

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Dec 17

worthman

- Eyewitness to Hitler Warns Americans: “Keep your guns. Keep your guns and buy more guns” (The Daily Sheeple, Dec 17, 2013):

When Katie Worthman was a little girl in Austria, she witnessed firsthand Adolph Hitler’s rise to power and the Soviet communist occupation that followed.  She also witnessed, for decades, the distortions of the media when it came to the reporting of the events.

From her eyewitness perspective, Worthman said that the whole thing didn’t happen overnight, in a brutal attack, like the media portrays it, but rather, it evolved into a dictatorship gradually, over a period of a few years.  Hitler didn’t come across as someone evil, to be feared, initially.  ”In the beginning, Hitler didn’t look like, or talk like a monster at all. He talked like an American politician.”

Here are some things that occurred in Austria, according to Worthman, that just might look familiar to Americans: Continue reading »

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Dec 17

83-Signs

- 83 Numbers From 2013 That Are Almost Too Crazy To Believe (Economic Collapse, Dec 17,2013):

During 2013, America continued to steadily march down a self-destructive path toward oblivion.  As a society, our debt levels are completely and totally out of control.  Our financial system has been transformed into the largest casino on the entire planet and our big banks are behaving even more recklessly than they did just before the last financial crisis.  We continue to see thousands of businesses and millions of jobs get shipped out of the United States, and the middle class is being absolutely eviscerated.  Due to the lack of decent jobs, poverty is absolutely exploding.  Government dependence is at an all-time high and crime is rising.  Evidence of social and moral decay is seemingly everywhere, and our government appears to be going insane.  If we are going to have any hope of solving these problems, the American people need to take a long, hard look in the mirror and finally admit how bad things have actually become.  If we all just blindly have faith that “everything is going to be okay”, the consequences of decades of incredibly foolish decisions are going to absolutely blindside us and we will be absolutely devastated by the great crisis that is rapidly approaching.  The United States is in a massive amount of trouble, and it is time that we all started facing the truth.

The following are 83 numbers from 2013 that are almost too crazy to believe: Continue reading »

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Dec 11

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

- More Misleading Official Employment Statistics (Paul Craig Roberts, Dec 10, 2013):

Dear Readers,

Readership has doubled, but donations in response to the current quarterly request are less than when the site had far fewer readers.

Perhaps I have had my 15 minutes of fame and it is time to retire.

Writing these columns does not benefit me. I already know the information that I provide to you, and the establishment has many ways of penalizing a person who doesn’t support the spin.

Remember, this is your site. It will stay up as long as you support it.
PCR

More Misleading Official Employment Statistics

Paul Craig Roberts

The payroll jobs report for November from the Bureau of Labor Statistics says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping the unemployment rate constant for the growth in the population of working age persons, and about 70,000 of the jobs would have slightly reduced the rate of unemployment. Yet, the unemployment rate (U3) fell from 7.3 to 7.0, which is too much for the job gain. It seems that the numbers and the news reports are not conveying correct information.

Continue reading »

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Dec 09

You can’t make this stuff up!



- Pelosi: Extending Unemployment ‘One of Best Ways to Grow the Economy’ (CNC, Dec 6, 2013):

Almost 11 million people couldn’t find a job in November, and for those who don’t earn a paycheck, unemployment benefits work for the economy, too, a leading Democrat says.

“Economists agree that unemployment benefits remain one of the best ways to grow the economy in a very immediate way,” House Minority Leader Nancy Pelosi (R-Calif.) said at a news conference on Thursday.

She spoke after Democrats held a hearing on the impending expiration of unemployment benefits — an “essential lifeline that millions of Americans and their families depend on,” Pelosi said.

Witnesses at Thursday’s hearing spoke “passionately” about the 1.3 million Americans who will lose the federal unemployment compensation on December 28 — “right in the middle of the holidays,” Pelosi said. And she said 1.9 million more Americans will lose their state benefits in the first half of next year.

“So it is absolutely essential that we extend the benefits.” Pelosi said she’d like to see unemployment insurance included in a budget bill — “but it could be separate from that as well.”
Continue reading »

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Dec 09

- 37 Reasons Why “The Economic Recovery Of 2013″ Is A Giant Lie (Economic Collapse, Dec 8, 2013):

“If you repeat a lie often enough, people will believe it.”  Sadly, that appears to be the approach that the Obama administration and the mainstream media are taking with the U.S. economy.  They seem to believe that if they just keep telling the American people over and over that things are getting better, eventually the American people will believe that it is actually true.  On Friday, it was announced that the unemployment rate had fallen to “7 percent”, and the mainstream media responded with a mix of euphoria and jubilation.  For example, one USA Today article declared that “with today’s jobs report, one really can say that our long national post-financial crisis nightmare is over.”  But is that actually the truth?  As you will see below, if you assume that the labor force participation rate in the U.S. is at the long-term average, the unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.  There has been absolutely no employment recovery.  The percentage of Americans that are actually working has stayed between 58 and 59 percent for 51 months in a row.  But most Americans don’t understand these things and they just take whatever the mainstream media tells them as the truth.

Continue reading »

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Dec 07

And now back to reality:

- Are Another 1.3 Million Americans About To Drop Out Of Labor Force (And Send Unemployment Plunging)?

- The Real Unemployment Rate In The U.S. Is At Least 30%

- Fake Employment Numbers – And 5 More Massive Economic Lies The U.S. Government Is Telling You

- Recovery In The US: Widest Gap In Employment Rates Between Rich, Poor Since Records Began

- 80% Of US Adults Are Near Poverty, Rely On Welfare, Or Are Unemployed


- Unemployment rate falls to five-year low of 7% as 203,000 jobs added; Dow soars 199 points (NY Daily News, Dec 6, 2013):

Employers were hard at work hiring in November, signaling the labor market’s gradual healing continues.

U.S. payrolls expanded by 203,000, the Labor Department reported on Friday, a total well above the gain of 180,000 economists had forecast.

The jobless rate, meanwhile, dropped to a five-year low of 7.0%. It had been expected to tick down to 7.2% from 7.3% in October.

The report also showed about 8,000 more jobs were added to payrolls in September and October than previously thought.

Stocks shot sharply higher on the news, snapping a five-session losing streak. The Dow rocketed nearly 200 points, or 1.3% higher, to close at 16,020.

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