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The US Economy Continues Its Collapse
Submitted by Paul Craig Roberts,
Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean something—the monthly payroll jobs gains and the unemployment rate—and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.
The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job.
The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?
In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed. Clinton wanted his economy to look better than Reagan’s, so he ceased counting the long-term discouraged workers that were part of Reagan’s unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency.
An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression.
The labor force participation rate has declined over the “recovery” that allegedly began in June 2009 and continues today. This is highly unusual. Normally, as an economy recovers jobs rebound, and people flock into the labor force. Based on what he was told by his economic advisors, President Obama attributed the decline in the participation rate to baby boomers taking retirement. In actual fact, over the so-called recovery, job growth has been primarily among those 55 years of age and older. For example, all of the July payroll jobs gains were accounted for by those 55 and older. Those Americans of prime working age (25 to 54 years old) lost 131,000 jobs in July.
Over the previous year (July 2014 — July 2015), those in the age group 55 and older gained 1,554,000 jobs. Youth, 16-18 and 20-24, lost 887,000 and 489,000 jobs.
Today there are 4,000,000 fewer jobs for Americans aged 25 to 54 than in December 2007. From 2009 to 2013, Americans in this age group were down 6,000,000 jobs. Those years of alleged economic recovery apparently bypassed Americans of prime working age.
As of July 2015, the US has 27,265,000 people with part-time jobs, of whom 6,300,000 or 23% are working part-time because they cannot find full time jobs. There are 7,124,000 Americans who hold multiple part-time jobs in order to make ends meet, an increase of 337,000 from a year ago.
The young cannot form households on the basis of part-time jobs, but retirees take these jobs in order to provide the missing income on their savings from the Federal Reserve’s zero interest rate policy, which is keyed toward supporting the balance sheets of a handful of giant banks, whose executives control the US Treasury and Federal Reserve. With so many manufacturing and tradable professional skill jobs, such as software engineering, offshored to China and India, professional careers are disappearing in the US.
The most lucrative jobs in America involve running Wall Street scams, lobbying for private interest groups, for which former members of the House, Senate, and executive branch are preferred, and producing schemes for the enrichment of think-tank donors, which, masquerading as public policy, can become law.
The claimed payroll jobs for July are in the usual categories familiar to us month after month year after year. They are domestic service jobs—waitresses and bartenders, retail clerks, transportation, warehousing, finance and insurance, health care and social assistance. Nothing to export in order to pay for massive imports. With scant growth in real median family incomes, as savings are drawn down and credit used up, even the sales part of the economy will falter.
Clearly, this is not an economy that has a future.
But you would never know that from listening to the financial media or reading the New York Times business section or the Wall Street Journal.
When I was a Wall Street Journal editor, the deplorable condition of the US economy would have been front page news.
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Remember unlike the press in nazi Germany,that were beaten and threatened into submission,our press did it freely and with great fanfare!
Presstitutes!
The ghost of Michael Hastings would disagree with you. Same for Gary Webb's spirit.
Hersh.
The New York media completely underestimate the anger and frustration of Americans.
It will dramaticly speed their demise.
Exactly, and Donald Trump understands the Anger & Contempt the American People have towards the open Criminality of the Criminal Fraud UNITED STATES, CORP, INC. He is channeling this anger through his voice / discourse hence the high poll numbers.
Brilliant!
Have a gander at the spouses of his progeny then tell me who he's pandering to.
Distraction, nothing else.
“A managed democracy is a wonderful thing... for the managers... and its greatest strength is a 'free press' when 'free' is defined as 'responsible' and the managers define what is 'irresponsible'.
-- Robert Heinlein
#41
It's also all these wars!
The hell they are.. What exactly do you think the NSA stuff is all about exactly? what you read about?!!
Might want to google "Michael Hastings" and "Andrew Breitbart" to get a sense of what happens to those failing to write what they're told
I pray like calling in a air strike these days
The U.S. Army is buying an undisclosed number of riot control CS gas canisters in order for troops to “become familiar with the effects of the agent,” as concerns grow about civil unrest inside the United States.
According to a solicitation posted on August 5, the U.S. Army is looking to secure a five year contract for the procurement of K765 CS Capsules.
“The CS (ortho-chlorobenzylidene malono-nitrile) Riot Control Agent Capsule is used in training scenarios for troops to become familiar with the effects of the agent,” states the solicitation.
The exact nature of the solicitation and the quantity of canisters being purchased remains secret as a result of the “Technical Data Package” that accompanies the order being classified.
“Distribution Statement D means that the TDP cannot be distributed on the Internet,” states the solicitation.
The equipment will be delivered to Army Contracting Command at Rock Island, Illinois, which hosts the largest government-owned weapons manufacturing arsenal in the country.
As we have exhaustively documented, the federal government and the U.S. Army have been preparing for domestic unrest in the United States for a number of years. Jade Helm, a military exercise currently taking place across the country, includes role playing scenarios where troops have to operate undetected in “hostile” territory.
I thought CS was banned back in the 1960's? The US quit using it in Vietnam and went back to tear gas.
Meanwhile, government data shows that since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal).
http://www.breitbart.com/big-government/2014/10/28/report-71-percent-of-...
Is this not PROOF that we must create our own ZH army, navy, and air forces?
It's the Coats Guard for me. At the first sign of trouble I'll be right there by the hall tree.
No. Neither does PCR.
I'm old enough that I do remember when PCR was an/the editor of the WSJ and way back then (pre-pre-Murdoch, who, BTW fucked up one of the best newspapers on the globe....was none better for just plain business news where the editorial bent was exclusively confined to the editorial page, thank and bless you, PCR) it was tell it like it is, no matter the consequences, people were called on jury-rigged data, spun tales and double double seasonals. The WSJ would have been looking and sounding more like ZH than Time magazine or HuffPo. Further, when misdeeds, illegal activities and stretching of the law was caught, they railed on it big time hard. (Honestly, quit laughing) The Law and Integrity, Character meant things then and they took their role as a protector of the realm, a check and balance to illegal activities and bad government seriously.
But but but.... everyone tells me that ZH is filled with nothing but conspiracy theorists, and that everything is just awesome!
No sweat, just have FEDGOV print mo' money and hire 60 million shitbags to work for DHS.
Problem solved.
They've always been someone's slave but it's never been this bad.
It's like they took the MSN crew and forbid them to ever say anything positive about gold, or any other thing that is objective like the possibility that stocks are overvalued in extremis.
Or mention that the FED is a private bank, Janet Yellen is a shill, and that every number they report on is absolute shit- it's almost laughable to see them pore over the unemployment report like that thing is anywhere near accurate. It's absurd.
I hate the loss of objectivity. Serving your master is so evident that it sickens me. Online rags like the POS HP- are even worse.
If everything politicians say is a convenient lie, why would anyone believe ANY government numbers?
If a politician tells you water is wet, go check, just to be sure nothings changed since you last washed your hands.
Government decreed that carbon is a pollutant on a planet teeming with carbon based life so regulating the wet out of water should present no problem at all. Better keep checking.
Funny how Rus/Ukraine drama almost disappeared. It looked like ww3 soon and... quiet. Maybe shift in the eur/usd trend incoming ;).
"America's Got Talent" hasn't mentioned the Rus/Ukraine conflict, Greece, IRS scandal, ISIS, or new Furguson riots, so it can't be toooo bad out there.
Logistics. Get back to us if it still quiet on Russia's western front by next summer.....
You must have missed this little gem in Saturday's Daily Telegraph: "Ukraine debt crisis: Kiev faces fight with creditors as it reels from Putin's blows"
https://tinyurl.com/q4nzhyo
No... the Ukraine drama is alive and well...
https://www.youtube.com/watch?v=O_L0mzW4dIQ&list=PLw613M86o5o5zqF6WJR8zu...
Excellent article with interesting info! 1994, I didn't know.
Bankers are traitors. We have the technology to eliminate their "services," hand the operations over to the military, restore law and order and transition the world into a NWO managed by individual volunteers and open source software solutions. Downsize or die bitchez.
To many folks asleep and fucking obese to do anything
You mean to say it's not all awesome?
Ah the future
Sowing Confusion
https://goodbyeamericainaphoto.wordpress.com/2015/08/08/sowing-confusion/
Excellent rip on lefty state sponsored posers and prestitutes @ 13:55
https://www.youtube.com/watch?v=iYZDZ62AWHo
ANYONE who honestly believes the United States ONLY went into a 'great' recession in 2008-09 is not just blind but probably on some serious meds too. The shock to our economy and financial markets was worse than anything that really happened during the Great Depression. The unemployed actually have benefits paid to them. We have food lines today only they are hidden by the EBT cards - the U6 unemployment rate is officially 10+%. John Williams over at ShadowStats.com put the actual unemployment rate around 23% (way more realistic). Look at manufacturing - gone - poof. Exports - poof. Imports are heading south. Consumer spending - in the toilet. YET - there are fucking idiots in positions of power who still insist that we're in a recovery. Name me ONE FUCKING DISEASE that takes this long to recover from?!?
Liberalism?
"I don't have to tell you things are bad. Everyone knows things are bad. It's a depression! Everybody's out of work or scared of losing their job. The dollar buys a nickel's worth. Banks are going bust. Shopkeepers keep a gun under the counter . . ."
https://www.youtube.com/watch?v=ZwMVMbmQBug
There is nothing "liberal" about the media-6 tycoons/Industries own almost all of it-and they vote Republican
No, I think they vote for both sides with their wallets. I am surprised there is even a question about this after what Trump has been saying about his contributions to Shrillary.
Something about media that attracts the absolute worst of the worst psychopaths.
Believe me, there are graduations even in that group.
I had dealing with both Maxwell and Murdoch in the past.Both were/are slimy. lizard people,
requiring long hot showers after meeting with them.
I have a much better class of pschopathic clients nowadays.Almost human, sometimes.
The "government" has not been legitimate since Lincoln's War. When the southern States' contingent walked out of congress and congress adjourned "sine die" (without a day), congress officially dissolved. They never had a lawful quorum so never lawfully reconvened.
It was Lincoln ruling by decree back then which is the basis for all actions since. He ordered congress to do certain things under martial law (military rule). He even had the governor of New York arrested for opposing certain decrees.
We have had a corporation ACTING as government since 21 Feb 1871.
See:
28 U.S.C. 3002 (15)
(15)“United States” means—
(A) a Federal corporation;
(B) an agency, department, commission, board, or other entity of the United States; or
(C) an instrumentality of the United States.
So... B and C are subdivisions of the "Federal corporation." For further verification go to Dunn & Bradstreet (dnb.com) or manta.com. You will find that ALL government entities are listed as private corporations right down to your local police department and school district.
The "law" isn't what you think it is. It's all corporate regulations. Congress and legislatures are acting as the board of directors for the corporations and most don't have any idea. You are simply seen as a corporate asset (human resource) with an asset tag # (SS#) that is not allowed to tell your owner what to do.
The questions you should be asking are, "Who owns it?" "Who are they really working for whether they know it or not?" "What are the requirements to be a CEO of a corporation?"
Hint: You don't have to be a Citizen of any specific country to head up a corporation.
These Criminal Psychopaths / Sociopaths are just minions gaming a Criminal FRUAD system all based on Contract Fraud through our CONSENT (Blacks Law Dictionary) & deception.
From Lincoln, to the Act of 1871, Fed Reserve Act of 1913, to The Emergency Banking Act of 1933. No doubt, thse Megalomaniac's have taken historical FACT, twisted it, kept it from public knowledge to use as leverage in their diabolical plan to Enslave / Control mankind. And, the entire planet.
It's passing strange
how when something starts to collapse it stubbornly continues collapsing even if you say "STOP IT".
It makes you want to cry.
It's been collapsing for a while. Now when it reaches bottom, watch out.
I agree with most things PCR points out, except when he rants about the chance of nuclear war, certainly knows what he is talking about when it comes to the coverup of economic numbers.
Record 93,770,000 Americans Not in Labor Force; Participation Rate Matches 38-Year Low http://cnsnews.com/news/article/susan-jones/record-93770000-americans-no...
July Labor Participation Rate 62.2% http://data.bls.gov/timeseries/LNS11300000
LET IT BE KNOWN as of December 1, 2014, under the court decision of August 25, 2014 that convicted the United States Corporation and their officers of fraud, extortion, human trafficking, involuntary servitude, murder, high treason, and crimes against humanity, all corporate governmental, judicial and enforcement powers and authority are revoked and nullified and all such personnel are hereby ordered to immediately STAND DOWN.
Any further corporate governmental intervention into any matter regarding any activity in any of the several states related to the Respublica of Earth, United States of America is now considered a Breach of the Peace.
LET IT BE FURTHER KNOWN that anyone disregarding this ORDER is considered personally liable for acts leading criminality against the People and faces immediate arrest and detainment by the Court of Ages, Earth District Natural Law Peace Officers deputized by the Court which includes all militia and National Guard.
Court of Ages • Universal Court - Home
Respublica of Earth - Home
The Heirship Economy: Unlimited abundance for all - Rise Together
Unadjusted full time workers are at an all time high,. This number has gone up 4.5 million since January.
That doesn't mean we're in a strong economy. But it does mean it's not "collapsing".
Grab a brown paper bag, for Gods's sake.
It was the Reagan administration that eliminated the Fairness Doctrine (1987). Sort of speaks for itself....
And forgive me if this is a re-post. My internet went out at the critical moment.
The only thing Trump needs to do every time he opens his mouth is trot those numbers out.
Then demand the fucking Kenyan faggot monkey to get his dick out of whichever fat faggot hes fucking in the golf course bathhouse and tell him why hes fucking wrong.
He can also fuck the fed with the 23 % numbers too. Here's hoping
"This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks."
Insanity. Why oh WhY do we use these LIE words. How do you know they stopped looking for work? Why do they keep saying "stopped looking for work" I was unemployed 2 yrs and never stopped looking for work but about 10 billion times they referred to me as stopped looking for work jesus tits stop saying that!