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Paul Craig Roberts: Economic Disinformation Keeps Financial Markets Up
Submitted by Paul Craig Roberts,
Friday’s payroll jobs report is more of the same. The Bureau of Labor Statistics claims that 223,000 new jobs were created in April. Let’s accept the claim and see where the jobs are.
- Specialty trade contractors are credited with 41,000 jobs equally split between residential and nonresidential. I believe these are home and building repairs and remodeling.
- The rest of the jobs, 182,000, are in domestic services.
- Despite store closings and weak retail sales, 12,000 people were hired in retail trade.
- Despite negative first quarter GDP growth, 62,000 people were hired in professional and business services, 67% of which are in administrative and waste services.
- Health care and social assistance accounted for 55,600 jobs of which ambulatory health care services, hospitals, and social assistance accounted for 85% of the jobs.
- Waitresses and bartenders account for 26,000 jobs, and government employed 10,000 new workers.
- There are no jobs in manufacturing.
- Mining, timber, oil and gas extraction lost jobs.
- Temporary help services (16,100 jobs) offered 3.7 times more jobs than law, accounting architecture, and engineering combined (4,500 jobs).
As I have pointed out for a number of years, according to the payroll jobs reports, the complexion of the US labor force is that of a Third World country. Most of the jobs created are lowly paid domestic services.
The well paying high productivity, high value-added jobs have been offshored and given to foreigners who work for less. This fact, more than the reduction in marginal income tax rates, is the reason for the rising inequality in the distribution of income and wealth.
Offshoring middle class jobs raises corporate profits and, thereby, the incomes of corporate owners (shareholders) and executives. But it reduces the incomes of the majority of the population who are forced into either lowly paid and part time jobs or unemployment.
The extraordinary decline in the labor force participation rate indicates shrinking opportunities for the American labor force. No economist should ever have accepted the claim that the economy was in recovery while participation in the labor force was declining.
The officially documented decline in the labor force participation rate casts additional doubt on the claimed increases in payroll jobs. If jobs are growing, the labor force participation rate should not be declining.
Having looked at the actual details of the payroll jobs report, which are seldom if ever reported in the financial media, let’s look at what else goes unreported in the media.
The government’s economic statistical agencies are under pressure not to roil the financial markets. Consequently, initial reports, which are always the headline reports, are as close as possible to the “consensus forecast” prepared by economists in the financial sector, whose jobs are to maintain a good atmosphere for financial instruments.
This practice results in optimistic advanced estimates and first estimates. The real reporting comes later in revisions. For example, today the headline was 223,000 new jobs, recovery on track, stock market up. What was not reported by the media is that the prior month’s (March) payroll jobs growth was cut to 85,000 jobs, substantially below population growth.
The same thing happens with the reporting of GDP growth. The first quarter GDP advanced estimate was kept in positive territory with a 0.2%–two-tenths of one percent–growth. When the revisions arrive, which we already know will be negative GDP growth due to the trade figure, they will not receive the same attention.
There are many additional problems with the economic reporting. I have written about a number of them in past reports. Here I will provide one more example. According to the payroll jobs report oil and gas extraction lost 3,300 jobs in April. This low number is inconsistent with what we know about layoffs from fracking operations. According to Challenger Gray, a private firm that tracks job cuts announced by corporations, in April 20,675 jobs were lost as a result of falling oil prices. That is more than six times the loss reported by the payroll jobs report.
Challenger Gray reports that during the first four months of this year, corporations have announced 201,796 job cuts. Obviously, corporations are not creating new jobs. That is why the BLS looks to waitresses, bartenders, remodeling contractors, government, and social services for employment growth.
Jobs offshoring has shriveled the employment opportunities for Americans. These shriveled opportunities are largely responsible for stagnation and decline in real median family incomes, for the falling labor force participation rate, for the rising inequality in the income and wealth distribution, and for student loans that cannot be repaid from the lowly paid jobs available. Corporations and Wall Street in pursuit of short-term profits have given the economy away. Much of the former US economy now belongs to China and India. Corporate executives and shareholders got rich off of this give-away.
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According to Shadow Stats, if
Nah, it's the money printing.
< Disinformation.
< Datinformation.
One well-endowed lady here the other day calculated unemployment at over 41%, using simple no BS numbers.
Oh I see. 100% - Employed 59% = 41% aged over 16 in Labor Force Not Employed.
146M Employed/248M Total = 58.9% (59% Employed) 100-59= 41% Jobless
BLS Data shows you get 37% with 92 Million (16 and Older not working) / 248 Million (Total 16 and older). (BLS Data end of 2014).
92M/248M = 37% not in Labor Force
102M/248 = 48% Jobless based on RT with current population over 16 years of age (BLS Data end of 2014)
146M Employed/248M Total = 58.9% (59% Employed) 100-59= 41% Jobless
RT Total Jobless has to be considered I guess.
(Quick Check on 92 Million, 248 + 92 = 340 M which is obviously too high for total pop, has to be part of the 248 Million aged over 16 years of Age)
http://www.bls.gov/cps/cpsaat03.htm
Which seems in like with total population of 321 Million.
Normally I would do a check by adding 20 Million or 30 Million to the unemployment Total, but even in the Financial Crisis it was said to be only like 14.8 Million in 2010.
248 M / 321 M = 77.3% are working aged.
Note: Large Difference BTN RT Jobless total of 102.
"If you add the current number of Americans without a job (9.75 million) to the number of US citizens not in the labor force (92.02), you come up with 101.77 million working age Americans who do not have work, according to data from the US Bureau of Labor Statistics (BLS)."
Nearly 102 million working-age Americans jobless — RT USA
www.rt.com/usa/156800-americans-economy-unemployed-work/
May 5, 2014 ... 00:00 GMT, May 11, 2015 ... Nearly 102 million working-age Americans jobless ... Although the US unemployment rate has declined, more and more Americans are choosing to opt out of the labor market altogether and no ...
US economy | Jobenomics
www.jobenomicsblog.com/tag/us-economy/
Apr 14, 2015 ... As of the end of Q1 2015, out of a total population of 321 million Americans, 109 million private sector workers support 32 million government ...
This is the Picture of Real Utopia, So Quitcher Bitchin'
The more people who've QUIT LOOKING FOR A JOB means that they're happily living the life of Riley, with governmental food stamps, housing and freebies.
Everybody wants to retire and just think, some 97 million folks have done Just That!
Thanks to the Government!
And the Bigger that Number Not in the Labor Force GETS the BETTER and HAPPIER America
STOP and THINK about What You Rebel Against!
You Rebel Against UTOPIA
Yes as old retired white guy I'm hopims all colors come up against the machine that bring down worker round the world. It will be a gory day for of you rich libs
My neo impressionist art career has really taken off.
To think it all started with an advertisement on a match book cover.
Money Printing definitely plays a role in the manipulations of unemployment Stats.
As I was trying to say above, if you follow John Williams Shadow Stats, he asserts that if the Fed. government used the same methods for calculating unemployment as in the 1970's, todays rate would exceed 15%:
http://www.paulcraigroberts.org/2015/01/11/john-williams-shadowstats-com...
I am not competent enough to judge whether he is correct, but I do know that a ZIRP is a sure sign of underlying economic weakness,.
He is correct.
EDIT: I remember when the inflation numbers got to 4 and 5 percent. Man, they started freaking out. Today we have higher rates than that usinig the same calculations they used in the 1970,s and nary a peep. In fact they are calling it deflation. Now if one looks up the true definition of inflation,,, then considers QE and all the other sordid printing of money there is no way we can be deflating.
Mr. Roberts,
You know as well as I that once total debt doesn't increase faster than output, we're fooked. The rest of this analysis is trite.
Exactly. Come on, anyone still believes in efficient markets? It's pure psychology.
Always spot on, once the End Times begin and the Revolution ousts all the theives in Washington. We'll get this guy to put everything back together
Larry summers was at the salt convention in vegas last week. I could use analytics, logic, empathy and a whole host of other worth while things to make a point, but what was most interesting is that a former treasury secretary put his momma yellen voice on, for no reason. Lord Keynes is regretting the PhDs program he created. No joke.
https://www.youtube.com/watch?v=BPGmVf2tLd4
disagree. hookers and blow are keeping the "markets" up.
No shit PCR lies nd manipulation all they got once that stops the truth will be stranger than fiction
Slightly off topic - is mark to market back in place as it was before the 2006-2007 crisis ?
Are the short-selling type brakes back as they were before the crisis ?
PCR always cuts it right to the bone. Me like.
The Future.
many of those 'temp help jobs' pay pretty well ($40 an hour and up).. Go on your spouces health insurance or buy a 'bronze' plan under the ACA
many of those 'temp help jobs' pay pretty well ($40 an hour and up).. Go on your spouces health insurance or buy a 'bronze' plan under the ACA
your kidding right? bronze? flush money down the toilet unless you is one unhealthy m.fooker.
temp workers are not contract workers. temp workers are shit jobs for down and outs...
Liars to fools and shit eaters.
I don't read much or pay for financial services.
But seems to me in 1970-80s Manufacturing Jobs were considered special as they had a Multiplier Effect on the Economy.
And you can see this on St. Louis FED Website FRED Charts.
And you can look up the Velocity of Money: M1, M2, MZM.
All of these Show terrible Charts of Decline and even Collapse.
But I never hear Experts or News Sources talk about this... just like the Gini Coefficient or Inequality.
Because Rich People don't care, Lobbyist don't care, Lawyers don't care, and Bankers sure don't care.
Still you would think there are Watchdogs and Public Groups that would raise these issues better. Personally I think Fascist is so imbedded that most people just see Winners and Losers in the Economy. And focus on Family to make them winners. They have little motivation if they understand the Racketeering involved, the Corruption, the Money Trust.
The 'M1 & M2' numbers or the "Money Supply" metric is Invalid now because IT DOES NOT TAKE INTO ACCOUNT Debit/Credit cards, third party payment systems like paypal or commercial paper.
Yeah I don't like those either. John Williams uses MZM and then makes his adjustments to open up the numbers better. Unfortunately I don't subscribe to John Williams Shadow Stats and am not 100% sure how he would look at Velocity or even exactly how he adjusts MZM Money Supply.
I think it is revealing that St. Louis FED shows Money Velocity in several forms even if they have changed... and that they chose M1 Multiplier to show. There is utility in these tools even if a quick guideline.
1950-1970 yes... big difference in debt levels and Credit Cards. I'm not clear how big Paypal is % of Credit Type Transactions. Commercial paper is a money-market security issued (sold) by large corporations to obtain funds to meet short-term debt obligations... so I don't know this stuff obviously.
I think you make a valid point about Credit cards, but the Velocity comes down after 1980 in one measure, then comes down in 2000 for another... either way credit cards were already in use by households and businesses.
How can credit cards explain a long term drop in Money velocity and a collapse in 2008? Best Guess is that ATMs might have gotten higher fees or limits starting in the 1990.
I should review the charts.
https://research.stlouisfed.org/fred2/series/MZMV
https://research.stlouisfed.org/fred2/series/M2V
https://research.stlouisfed.org/fred2/series/M1V
https://research.stlouisfed.org/fred2/series/MULT
- Money multiplier
- Fiscal multipliers
- Keynesian and Hansen-Samuelson multipliers
Well we know that Fiscal Spending has been Exponential, therefore, Fiscal Multiplier is collapsing. Monetary Multiplier is a failure. I don't know where else to go. Except that in Business School you are taught in the old days that Manufacturing Expansion provided more Multiplier Effect in the Economy. A dollar in Manufacturing could lead to 3 other dollars in the economy as wheat is turned to flour, flour into bread and other products, and Bread Products into other things. I don't see credit cards directly involved.
Late Edit:
Screw it man. Domestic Investment is Key. US Does Not invest in Infrastructure, has no Principals, has no National Plan to accommodate City Type Planning.
We have more Foreign Investment than Domesticate Investment.
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm (wow huge trend, $31 Trillion in Foreign Property in USA vs $24 Trillion)
Rest of the world; foreign direct investment in U.S.; asset, Level, 2014:Q4: 3,298,931.7 Millions of Dollars (+ see more), Quarterly, Not Seasonally Adjusted, ROWFDNQ027S, Updated: 2015-03-12
https://research.stlouisfed.org/fred2/series/ROWFDNQ027S
https://research.stlouisfed.org/fred2/series/GPDIA (Gross Private Domestic Investment, $2,851.6 Billions of Dollars)
https://research.stlouisfed.org/fred2/series/GPDICA (Real Gross Private Domestic Investment, $2,704.7 Billions of Chained 2009 Dollars)
Clearly the Goal is to Under Develop the US Industry and Decapitalize the many US Industries in favor of Cheap Labor Overseas (Slave Labor) Free Trade = Undeveloped Industrial Base and Decapitalized Industrial Base.
Nice. I'd feel like shit if I was the Lawyer or Financial Adviser on that.
Good to see someone researching and providing links.
"Clearly the Goal is to Under Develop the US Industry and Decapitalize the many US Industries in favor of Cheap Labor Overseas (Slave Labor) Free Trade = Undeveloped Industrial Base and Decapitalized Industrial Base."
By George, I think you've got it!
Elysium
Dr. Roberts often uses the phrase "hubris and arrogance" describing the psychos that inhabit Washington and Wall Street. I love this guy!!
I use the phrase "hubris and arrogance" to describe my father and brother. It seems very 'English' to understate the psychos in this manner.
But I love PCR on USAWatchdog.com
"Everything the government says is a lie." Nietzsche.
The financial markets are up because the Fed manipulates the markets. The theory provided for the moronic sheeple is that a rising market proves a good economy. It's like putting a match on the ball of a thermometer and saying the temperature of the air has risen. There are 26 waiter/bartender jobs added for every manufacturing job. http://www.zerohedge.com/news/2015-05-08/april-there-were-26-waiters-and...
Trust in government, the MSM, or government statistics is delusional. We can divide up what we produce, not what we imagine.
what about IT jobs or jobs in Accounting & Finance??? Many are highly paid and are growing especially here in the northeast.. The labor market for SKILLED workers is as tight or tighter than in the late 1990s.. This site keeps trying to split hairs with negative dis information. But look around you, parking lots at malls are full as well as restaurants and houses are going up everywhere as well as apartments which rent for $2300 for a 550 square foot studio to over $7,000 a month for a 1500 square foot three bedroom
Maybe where you live. But where I live the only businesses that hvae full staff are: Government and health care.
Everything else is either a national corporate chain with part time employees, or boarded up.
Here an IT job that requires 2 years experience and MCP pays $9 per hour.
That's less than I made as a rookie/entry level Sysadmi in 2000.
If you don't work for the state or for some health care company, you're pretty much fucked. Those other people make good money and go out to lunch everyday. They are not America. They work for protected monopolies. Profits or cash flow hurting? Don't lay anyone off, just institute more regulations and fines (gunvermin) or raise prices (health care) to support bloated staffing levels and ridiculous salaries (when compared to private industry in similar levels of responsibilty).
So for some folks, it's all good. The majority though? Not so much.
If you live in or near a government or banking center then I'm sure there's plenty of faux, money printing fueled, prosperity. Out here away from the money printing machines, there's a lot of poverty and desperation.
Plenty of people want to work but realize that 29 hours a week at minimum wage won't even pay health insurance, much less a m ortgage or keep a car on the road with all regulations,fees, and safety requirements.
Just because things appear good in the magical city of Oz, doesn't mean they're good just outside the city limits.
We all know that the most important thing in the world is to know the size of the ass Kardalhian.
Here are all scholars and know that by the size of ass calculating the pressure per cubic centimeter in the cock head!
Only this matters!
The rest is every man for himself!
hehe.
We all know that the most important thing in the world is to know the size of the ass Kardalhian.
Here are all scholars and know that by the size of ass calculating the pressure per cubic centimeter in the cock head!
Only this matters!
The rest is every man for himself!
hehe.
What about the Total Dent Factor in Underwear when you fart or have 'extreme' gas and farting? I call it the TDF.
A dent in my underwear is the least of my worries.
The iShart
Americans Idle.
FUCK YEAH!
About time Tylers. Thanks for posting some From PCR.
Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy(Under Reagan) and associate editor of the Wall Street Journal.
He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments.
Was CFR chartered by the US Congress to create the UN??
- I see some problems if true, since there is a link to the British, The UN was created in WWII and also put USA & UN to blame for creation of Israel, which could have been aok but seems convoluted or contrived if the British had already approved and agreed to get USA into World War with Balfour Agreement. Almost could read that UK attacked USA or used insiders to agree to influence FDR to support UK and join World War II.
There are no jobs in manufacturing.
In the 90's I worked for a Plastic company. I watched as they closed 10 of their American plants and built in China and Hungry. The one of a kind extruders, Huge 100ft long things were taken apart and shipped over and reassembled. Those MFG machines aren't even in the country any more.
Offshoring middle class jobs raises corporate profits and, thereby, the incomes of corporate owners (shareholders) and executives.
Hmm sounds JUST LIKE TPP.
"Offshoring middle class jobs raises corporate profits and, thereby, the incomes of corporate owners (shareholders) and executives."
Only because those same middle income victims continued to buy the products. We had a choice in the 1990's when there was still manufacturing in the usa. But it turns out we can be bought. Americans couldn't resist those cheap poorly made Chinese products the traitorous corporations were marketing. Even Americans who were victims of layoffs made a beeline for WalMart. Today, all you can find are foreign made goods.
Now we are an unskilled people trying to force the service industry to foot the bill for our refusal to stand 'united' against the off shoring in the beginning. We have Murikans flipping burgers, mowing yards and manning the malls that sell the foreign products and somehow they figure they're worth 20 bucks an hour.
We stood by and let them ratify all previous job sucking treaties,,, The TPP won't be any different. Most aren't even aware of the TPP and most will still be texting each other nonsensical messages on their Chinese iThingy when it gets ratified.
Our leaders or Patriots should think and plan about national security... through national assets(like refineries), National Resources like mining, lumber, national forests, farmland with water, commodities, food distribution systems, food and farm and ranch contracts to foreign entities, ability to augment commercial corporations with Ranching, farming, mining, refining, energy, water, and materials for rebuilding cities, highways, railroads, ports & ships, and dams and energy systems and distribution systems.
Remember NAFTA in the 1990s? That big sucking sound of jobs, plant, equipment and money out of the US? Nafta was the size of a Dust Buster handheld vacuum.
The Trans Pacific Partnership will be the size of a septic tank pumper.
Get ready for the SUCK in America.
this is going to hurt.
Did the same thing in the 80's with textiles (manufacturing cloth). Entire towns got laid off. Wife's home town, Port St Joe, Florida USED to have a papermill (St Joe Paper), a chemical factory (SilvaChem), a fishery (Raffields), and associated service/support job to those factories.
Today, I think Raffields is still in business, but it seems like it was closed after the fire and ammonia spill back in the late 80's.
Today that town is filled with McMansions and I can only assume that most people retired and moved there. The younger group of her family (nieces/nephews) are basically full time unemployed, into drugs and crime, the one(s) that are working are military/health/government.
I could imagine living there if there was no need to work (retirement), but I don't see how anyone can make a living there without being a vampire to the economy.
Yeah, but unemployed people getting welfare, into drugs and crime-create a big part of our GDP. Welfare payments are hundreds of billions -every prisoner generates $50,000 a year into the prison industry - drug profits are in the jillions -do you realize how many jobs this creates? Since we discovered that money grows on trees -it's all free -like an ATM machine or a credit card - all of these things are a plus. Throw away all the economic textbooks and conventional wisdom. Money really does grow on trees. I denied this for years, and my stock portfolio suffered. But now I've seen the light. If we just had the sense to write average Americans a check for $50,000 each year (or even more) we'd really be on track for DOW 25000 by the end of 2016 - with no inflation.
When attempting to save this to FB page, a naked lady with huge breasts is the accompanying photo. fyi
So corporations shouldn't be allowed to shop around for employees? That is what this is getting at. US labor is way to expensive. Free trade? Labor is traded too! Yeah, I know "free trade" is a package deal but for differnet reason TD. Your other post implies free trade having somethign to do with keeping high paying jobs at home. How the fuck is that? What does free trade have to do with keeping work at home. For what reason? Rasists more like it.
So corporations shouldn't be allowed to shop around for employees? That is what this is getting at. US labor is way to expensive. Free trade? Labor is traded too! Yeah, I know "free trade" is a package deal but for differnet reason TD. Your other post implies free trade having somethign to do with keeping high paying jobs at home. How the fuck is that? What does free trade have to do with keeping work at home. For what reason? Rasists more like it.
LAW OF SUPPLY AND DEMAND. The problem is that there are too many humans on the planet. That is bound to make humans (labor, wages) cheap. The only cure is to have fewer babies. I think a lot of people in a lot of countries are starting to realize that, but the MSM keeps coming up with ways to lie to people, telling them that more babies somehow means more security. The MSM says this because the MSM is/serves the masters of the largest corporations, who make money by dividends, options, and stock prices, all of which increase when the corporations sell more stuff. The only way the corporations can sell more stuff is to have more customers, and the only way to have more customers is to propagandize people into having more babies.
the jobs reports are pravda. we are the soviet union.
a few years ago head ceo of ge mr walsh himself a notorious dickbag had the balls to call a spade a spade. and that was before QE could be used to pull the wool over eveyrones eyes while the financial media continues the party line.
the one party line.
when everyone is starving the one party line will be seen for what it is. but worse, unliek the soviet union, we won't ever have wheat shortages.
and so , our empire and its decline will last far far longer than people think. the dmitry orlovs begging for a soviet style collapse are sorely mistaken.
it's not the lack of athoritarian control society that stops the collapse its the welfare entertainment state. and 'democracy' is far better at tricking the population. it is why rome lasted hundreds of years as it transitioned to byzantium .
it's how the charade perpeturates itself.
plus, we have full spectrum spying and a capability to prevent a change of regime the soviets simply lacked.
"Corporations and Wall Street in pursuit of short-term profits have given the economy away. Much of the former US economy now belongs to China and India. Corporate executives and shareholders got rich off of this give-away."
PCR nails it. Good to see him at ZH. I have appreciated his writings at ICH and elsewhere for many years.
With the long term devaluation of the dollar and the ever growing regulations and taxation the sad truth is that it's not economical to make something here. In fact it's so uneconomical that it's cheaper to ship something weighing thousands of pounds hundreds of miles across oceans rather than make it here. We've fucked our own asses so royally that we make the communists look capitalist. Cooincidentally we're also making their police states look merciful in comparison and will soon get our asses beat for allowing this to happen.
Add to that the destruction of our public education and now the obvious dumbing down of new college grads. Pew says we have slipped to 19th in academic achievement - which I know is accurate after decades of working internationally. Why pay first world No. 1 wages to 19th emerging market players? The non-judgemental, non-accountable, feel good curriculum with reduced performance expectations is ruining the middle and trapping the bottom into thirld world status. It is a shame.
The son of one of my golf buddies has been working 7 years for the Border Patrol and makes about $120k/yr.
All sorts of articles say that there is big bucks working for the mercenary companies.
I am sure that lawyers, lobbyists and wall street brokers are doing fine.
You just don't want to be in any value adding business.
I doubt that salary $ for a border patrol agent. The BP moral is at an all time low. He would have to be in high level manager GS 13/14 to make that kind of $$.
He didn't say his 'salary' was $120,000 a year. Only that he makes that much.
If I had a border patrol job, I think I could figure out ways to bring in extra income at no added cost to the federal government.
The only employment stat that matters is "initial claims", and that one is hard to fake very much. It is the only stat the Big Boyz pay attention to. As long as initial claims keeps going down or flat, the stock market will keep going up.
Initial Claims are bullshit because they only count the people who had a job long enough for benefits and lost it. It does not count those people who have already eaten up all their UI benefits and still can't find a job, but are without a job nonetheless. It does not count those people who took a temporary job and lost it before they qualified for unemployment, even though they were employed and now they're not.
And the initial claims numbers went down dramatically when the Feds eliminated the multiple weeks of extended benefits.
Using initial claims as the milestone, you are only unemployed if you are eligible for benefits. No matter how much some of us might want a job, if we don't qualify for bennies, we aren't unemployed, regardless of how many years we might be off the job.
And another sucker has swallowed a sweet load of federally approved horseshit. Want lies with that?
They should have given away Washington D.C. and kept the jobs they would have been richer.
I know back in 2009/2010, SEC suspended GAAP requirements for corporate reporting allowing companies to torture their numbers with impunity. When all that is left is "beat the number" for government and corporate reporting, charts and TI are meaningless. PCR hasbeen inside and knows better than most how today's game is being played. HIs commentary on MSM and their efforts to invent today's conventional wisdom has a lot of cred in my opinion
Calm down, fake economic numbers are a completely normal symptom in central planning!
Ross Perot explained to America on the coming job exodus in the early 90s. Nobody was listening. America was sleeping. The time to do somthing was 25 years ago. Its to late now. When all the mexicans were entering the US 25-30 years ago and taking construction jobs aways from American workers who paid workers comp and taxes. White collar America did not complain. Actually white collar America embraced it since they could get their lawns mowed next to nothing and have other construction services done at 3rd world prices. Now that the white collar world is affected its a problem?
Flashback, 1985, San Diego County. Young Refuse-Resist is getting his first real job, masonary labor. $3.75 per hour for stocking block, mixing/hauling mud, digging footings, building re-bar structures for walls, fililng grout, and chipping grout. 10 hours per day paid weekly. Next to me were Mexicans. Hard workers and pleasant colleagues. Their pay? $20 per day.
After a few months doing that we moved to a new job site, a huge housing development going in near Poway. One day at the roach coach, I start talking to another masonary laborer working just across the street, on the same job site. We talk about money. He's on a union crew making $8 per hour doing the exact job as me (albeit for less hours per day and with more breaks and benefits), compared to my non-union $3.75, and the illegal Mexican's ~$2 hour.
It didn't take long for the owner of the company to get rid of the white boys in favor of the illegals. Now he's rich as shit due in part to his willingness to pay illegals $2 per hour. If you ask him, he'll tell you it's because he worked so hard. Hmm. Somebody worked hard that's for sure. I definitely did but for some reason my 'hard work' didn't net me the same results.
Perot was right and i knew the fix was in during the '92 debates with Clinton, Perot, and Bush. When Ross went on a tirade against NAFTA, both Bush and Clinton laughed at him and teh cameras made sure to show their arrogant smirking while Perot was talking.
+ 100
That was our last chance to beat TPTB. The people were too stupid to see it.
Basically, government is a huge collection of self-serving and thieving [taxing] incompetents. Expecting great and grand things from them is on par with expecting 1,000 chimps banging away on typewriters to produce "War and Peace." Government is not the solution but it is the problem....
USSA slash USSR........... same thing
Truth is of no consequence
Meaning is of no importance
Ministry of madne$$
https://www.youtube.com/watch?v=ONyPTMvz4NM
I don't believe shaming corporations for off-shoring US jobs as Paul does will do any good to restore our lost jobs.
Because the world is now overpopulated, global competition is fierce and Americans and the West are in denial about it’s bloated Big Government cost structure burdening it’s manufactured goods.
The future belongs to the low cost producer of goods. We have to compete in the global economy and trying to shame US companies for off shoring jobs is not the answer.
The Poisoning Agenda
The poisoning and handicapping campaigns of fluoride, vaccines and GMOs create sheeple that are sick and dependent on Big Government to protect them.
Most Americans are sick and obstruct cost reform and are going to massively die off in the next financial crisis. Americans and much of the West are an extinct species and don’t know it yet.
After the global reset to a gold standard of genuine money, the independent, healthy survivors will adopt local non-governmental private contracts to manage their roads, infrastructure, schools and trade agreements.
The internet, shame and guns will replace standing armies, police, judges, prisons and other wasteful institutions. In fact the cost structure will become so lean that shipping costs will become the best mechanism for preventing job off-shoring.
I know this all sounds crazy but few understand that overpopulation will now act like a cleansing sword sweeping over the land eliminating excess costs burdening our goods.
Ideal Anarchy
There will be less jobs and wealth in our global future because there won’t be any more counterfeited currency artificially stimulating GDP, economies and birthrates.
The healthy, independent, lean survivors will have far less need of consumer goods and low cost leisure and sports activities will become more commonplace. A new era of consciousness-raising, independence and health will emerge.
As one becomes healthier, detoxifies the fluoride, vaccines and GMOs out of their body and becomes more poison-free, they will have far less need for expensive ego, drugs, food, sex and other stimulating distractions.
As I said before the future belongs to the low cost producer of goods.
The era of healthy, independent producers will have arrived and the era of expensive, sick, poisoned, handicapped, dependent, delusional sheeple and the sick Western Black Nobility that poisoned and exploited them will become a curiosity of the past.
Anonymous – Ideal Anarchy
https://www.youtube.com/watch?v=vpITUBX0FV4
Blaylock – The Poisoning Agenda
http://www.youtube.com/watch?v=fB3xcN_eoPo
Well, if you have "less people" and no counterfeit currencies, you would expect more jobs, per capita anyway, as working might again provide access to real money with intrinsic value. At least as it appears from what's presented by your argument. You would certainly have more wealth, as what passes for income today is simply paper, printed ad nauseam by a protected/not elected club of human-shaped virus for the entertainment and enrichment of the club. The big ass club that you and I, aren't in.
**real wealth isn't printed, it's minted**
Beautiful. And since the housing Bubble Burst your Dwelling Prices are up, Bank Fees are Up, Home Insurance Cost is Up, and Property Tax Cost is Up.
I know let's keep the FED's Program for Inflating Home Prices and for Creating Housing Bubbles!
Repost:
You saw the Bloomberg Story today on Frontrunning that 7 Largest US Banks Predict large buying of US Treasuries just as FED switches to strategy of selling more long Term US Treasuries. FED Predicts selling $1.4 Trillion in coming year, but one bank wants $900 Billion (JPM I think). And we know that all Countries in the Developed World have been adding to their Holdings of US LT Treasuries each year (Going back to 2002 many Developed Nations did not have significant holdings at all).
So it is like Households are competing with the whole world and our TBTF Banks for an Interest Rate for Savings Accounts, CDs, Money Market Accounts.
Anyway looks like NIRP for USA. High Demand for US Treasuries.
I mean what hasn't Federal Govt, TBTF, and the FED done to US Savers, US Workers, US Taxpayers, US Health Patients, US Home Owners, US Fixed Income Dependents, US Retirees, Aging US Workers who Lost Savings & Retirements in the Housing Bubble...
The list of what has slammed the US Citizen since 1999 or even the Savings & Loan Crisis or Passing of NAFTA is HUGE.
Now is there a List of things that have helped US Citizens?? Well Illegals help with the Demographics problem, but it is too mixed to actually call that a good thing (Mainly I see Budget Explosions).
Question: Are we supposed to Thank VICHY DC for the TARP Bailout, LIRP/ZIRP, and QE??
It was the Failure of Clinton Admin, Robert Rubin, Larry Summers, Alan Greenspan, Phil Graham, Leech, Bliley, DOJ, FBI, SEC, OCC, FINRA, Treasury, and then George W. Bush that we had a TARP in the First Place.
There is like 25 bad things that VICHY DC, FED, and VICHY Wall Street Did to us.
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- and we can't find one thing to Thank them for!! -
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WHERE the hell is the MSM or Public TV or Public Radio even!
It is a God Damned Counter Intelligence Operation!
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- DOJ, FBI, Federal Courts Must Pursuit False Statements, Deceitful Practices Systematically Employed against Voters since the Voters are the People and the Government Reports to the People, Racketeering is two Organization who join in a Conspiracy to Profit from a Business, Billions of Dollars are exchanged between those corporations who Lobby and those Politicians that draw from Investments, Fees, and Jobs of any kind -
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Sorry Using Military Strategy and Techniques on Voters IS ILLEGAL under the US Constitution under Other Rights, 9th Amendment, plus we can sue the federal government under 7th Amendment for damages due to faulty Elections, faulty intelligence or information about our Federal Business, for wars under false pretenses, and for excessive federal budget spending placing Religious and Ethical Damage and unlimited financial burdens on the People.
Deceitful Practices of the Federal Government, Federal Reserve, Office of the President, and US Congress is illegal since the People are the Government. The Government Reports Truthfully to the People. Therefore the damage done by Individuals in any of the afore mentioned Offices is not protected by Sovereign Immunity or any official Diplomatic Immunity and the US Congress or US President may not confer a Pardon nor avoid justice of Impeachment by US Congress nor avoid prosecution for Racketeering by the DOJ & FBI.