Some Marketwatch Moron faux journalist – Rex Nutjob – is attempting to convince the ignorant masses that their pay is actually going up, when they know it is not. Today’s jobs report is an unequivocal disaster and again confirms recession. The BLS has some major cojones reporting that the unemployment rate plunged to a new 7 year low of 5.3%. Absolutely hysterical. Those guys really have a sense of humor. The blaring headline says we added 223,000 jobs. Of course, the reported numbers for the prior two months were drastically cut by 60,000 jobs. The talking heads never mention that. This number will be slashed in future months and not mentioned. And of course, the good old birth death adjustment added 109,000 more phantom jobs that weren’t really created. This 223,000 number is a farce.
Reality bites, as the other report showed that employed Americans DROPPED by 56,000 in June. That is more like it. A critical thinking person might ask, how could the unemployment rate DROP from 5.5% to 5.3% if there are 56,000 less employed Americans and the number of working age Americans went up by 208,000.
EASY PEASY – Your fine government drones at the BLS actually want the ignorant unemployed masses to believe that 640,000 Americans decided to voluntarily leave the work force in one fucking month because life is so good. They don’t need no stinking jobs. Who needs money to buy food, gas, and pay the rent? Orwell’s 1984 does not hold a candle to the misinformation, lies, and propaganda issued by the rulers today.
The labor force participation rate hit a 38 year low of 62.6%. Jimmy Carter was President. Do you remember how good those times were? Well the BLS, MSM and Wall Street think today’s jobs data is wonderful. It is as clear as a bright sunny day that this economy went into the dumper the second QE3 ended in October 2014. Since October, 1.4 million Americans got jobs, while 1.2 million left the workforce. The number of working age Americans went up by 2.0 million over this same time frame, but the government and their MSM mouthpieces of propaganda want you to believe the unemployment rate fell from 5.8% to 5.3%. It’s laughable, but it’s not a joke. The depth of their deception knows no bounds. The worse things get, the more they will lie and attempt to obscure the truth.
It appears Obamacare is the gift that keeps on giving, as the number of part-time jobs rose by 161,000 and the number of full-time jobs plunged by 349,000. Does this happen when an economic recovery is underway?
If you were wondering why I refer to the Obama jobs recovery as nothing but low paying service level shit jobs, here is your proof. Manufacturing jobs paid a wage that could support a family. We’ve lost 1.4 million of them since 2007. They have been replaced by fry cooks, waiters, bartenders and dishwashers. These jobs have no healthcare, low wages, and can barely support one person.
Hourly earnings were flat in June. The moron on Marketwatch evidently can’t understand basic mathematics. Wage gains have been around the 2% range during the entire Obama recovery. Real wage gains using the fake BLS CPI have been ZERO. With inflation in things we really need food, energy, rent exceeding 5%, real wages have been falling. Median household income is below 1989 levels. That’s reality.
The MSM will continue to paint a rosy picture. They depend on advertising revenue from Wall Street and corporate America. Telling the truth would depress the ignorant masses and they might stop buying shit they don’t need with money they don’t have. The government will continue to lie, obfuscate, and mislead because that is all they know how to do at this point. The debt is too high. Interest rates can’t go any lower. Their theories have failed. They are running on empty and they know it. That is why they are militarizing the police forces and keeping us under constant surveillance. When will shit hit the fan? Maybe when the 148 million working Americans get tired of carrying the 102 million non-working Americans. We are Greece, just a few years behind.
If you apply a realistic (read: non-government) inflation number to the calculation, it clearly shows that we have been in economic contraction since 2000. And since the years leading up to 2000 were a Fed-induced sugar high, you could validly argue that we haven’t had a legitimately expanding economy in over two decades.
But if you really want to believe that our unemployment rate is 5.3%, you must be a two-time Obama voter.
Work eats shit.
“Remain calm. All is well! ALL IS WELL!!!”
Animal House – 1978
It is very clear that there is no limit to the amount of bullshit and propaganda that the system will try to cram down our throats….the ONLY question is is there a limit to the amount the American sheeple will swallow?
Thanks, Stucky, that was the funniest video I have seen in a while…the only issue is that those people all probably got fucked hard by this fucked up corporate system.
Meantime, John Williams “Shadowstats” shows the true unemployment number (when you add back in all those “not in workforce-wink wink, nudge nudge”) is about 23%. I figure that’s about right.
http://www.inquisitr.com/2218523/david-stockman-says-unemployment-is-really-42-9-percent/
Roughly, the BLS Jobs Birth Death Model formula (from about 2004) accounts for 80% of jobs supposedly created (actually more jobs are being lost since about 2009 than created) so when BLS says 200,000 new jobs were created for April, then 160,000 were pulled from thin air (the very outdated faulty Birth Death formula). Then in the fine print it says 400,000 people stopped looking for work and were dropped from the survey. So the net total jobs added were about -400,000 + 40,000 = -360,000 while the population increased about 250,000. Then to add insult to ignorance, they will drop unemployment from say 5.4 to 5.3%. Now if you think that is close, then you will also swallow that the CPI is about 2%. BLS is having to “take one for the Gipper” because if they told the unvarnished truth, people would shit in their pants and run for the hills.
Hey, the Fed may be reconsidering that rate hike they were pretending to be planning to have in September.
http://www.reuters.com/article/2015/07/02/us-usa-economy-employment-idUSKCN0PC1BJ20150702
I’m sure we’re all shocked. Shocked.
I read an article at CNBC, I know, I know I need to up my game, that spoke of a vast army of hidden ‘contingent workers’. People who don’t show up in the BLS surveys because they don’t have an office or a 1099 form but are nonetheless out there making the big money. The writer then gave as examples two types of ‘contingent’ workers who would most definitely show up in BLS/IRS surveys. Temporary workers for the insurance industry and former workers at… Nuclear Power Plants.
You see there was a woman who provides experienced temporary workers to the insurance industry. Now where would these experienced workers come from? Why the people the industry had shed as full time employees who can now be recalled on as as needed basis. The Nuclear power plant industry does face a shortage of qualified nuclear employees apparently as the work force is aging so retired workers ( hey utilities have nice pension plans) can also be recalled as independent contractors/temps to plug staffing shortages. Of course, illegal aliens can’t get access to any power plant much less a nuclear power plant. You need a government approved security clearance so how and why these folks would not show up in BLS labor data the CNBC writer did not explain. She just assumed the same thing must be taking place on a vast scale all across America.
What is clear is that a lot of the new so called jobs are not going to Americans, they are going to immigrants. It is astonishing how many ‘convenience store/gasoline station/liquor stores there are in America and how they manage to stay in business. Well, cigarette smuggling, food stamp and coupon fraud, synthetic marijuana sales even operating as a fence for stolen goods can make even a marginal retail operation profitable enough to import another batch of illegal immigrants to open another one in an ‘underserved’ community!
Is anyone else just incredibly tired and depressed about being constantly lied too?
The natural response to being the recipient of continuous lies is detachment. Once detachment occurs, loyalty is no longer possible. When loyalty has disappeared, social/national cohesion breaks down. Fear becomes the driver, and self -defense becomes the priority.
I would place myself in the disappearing loyalty range of this continuum. Neil Howe would say I am a pessimistic apocalyptical Boomer. In the spirit of the times, I can claim to be a victim of my generational placement. But I still don ‘t like being lied to. Daily.
Lulu–The reason that you’re tired and depressed is that you expect the truth from them. Stop expecting it and believe that everything coming out of their mouth is a lie. Cut them out of your life.
I’ve heard so many people say that they are a lot happier now that they dumped their TV.
Meditate, it calms the mind and trust that anything that is important for you to know, will be given to you.
Trust that message and ignore all the others that depress you. Do you think that Noah got all depressed at the message that was given to him about the flood? No, he believed the message and got busy doing and didn’t have time to get depressed. So, get busy doing.
Homer says:
I’ve heard so many people say that they are a lot happier now that they dumped their TV.
________________________
I watch quite a bit of cable news, sometimes even Fox. Exposing myself to the lies reinforces to me that I have found the truth.
Obama’s Amerika. Nothing is working, but if you lie about it being good, everything is OK.