Since 1948 no other POTUS has had a run of unemployment for 54 straight months at 7.5% or higher! From the lack of outrage this is the new normal! How can I say that? Well Obama blasted his predecessor when unemployment was at 5.6% in 2004…
So the president, then senate candidate, criticized 316,000 jobs being created and an unemployment rate at 5.6% but is silent about 54 consecutive mos of unemployment over 7.5%? This must mean the administration is okay with high unemployment! The 7.5% isn’t the real number either! No it’s much higher actually for quite some time holding around 23%!
I wrote a few months ago that 100 million Americans unemployed is a conservative number because it only factors in those unemployed that are on the books. I stand by that figure as the BLS continues to report there are 11.77 million unemployed, these are the people “on the books”. What is left out of this number are those people no longer acknowledged, the forgotten Americans that are out of the labor workforce which holds steady just under 90 million reported a few mos ago. This gets us to 101.494 million Americans out of work or underemployed.
Wait it gets better! The number out of work is even higher than 101.494mil as many Americans still unemployed, who no longer qualify for UE benefits, work the system jumping on disability at a record 10.9 million! â€œThe 10,978,040 disability beneficiaries in the United States now exceed the population of all but seven states. For example, there are more Americans collecting disability today than there are people living in Georgia, Michigan, North Carolina, New Jersey or Virginia.â€ Many on disability have legitimate claims but this rate has been steadily climbing since 0bama took office with unemployment stats.
Since April the total number of Americans unemployed, out of the work force and on disability has grown by 1.97 million to 112.4+ million from 110.5+ million!! Folks thats over one third of the US population, of 313.9 million (per the US Census Bureau)!
This figure will continue to rise as Obamacare is implemented, and is one of the many reasons the employer mandate has been put on hold. If we continue this current course as originally planned the number of unemployed woud only climb, being higher during the 2014 election cycle! That would not go over well for anyone running for re-election who voted for the bill, thus the delay.
Because of the layoffs already taking place as a result of Obamacare part-time hiring has spiked…
Now if that wasn’t bad enough consider the future effects should the immigration reform bill make it through the House! We have been warned of the negative economic side effects amnesty will have on our work force, but those in power will do everything possible to push it through anyway! This is one more reason our “elected” leaders remain silent and choose not to tell Americans the truth. Instead they argue granting amnesty to 11 million which will balloon to 30-40 million will “stimulate the economy”! We can’t take care of our own but supposedly granting amnesty will give the nation an influx of money and boost the economy?!! Those 11 million here ILLEGALLY aren’t doing much to stimulate the economy as it is! They do need somewhere to sleep, food to eat, clothing to wear etc so their money is already in the economy (minus the little they send home)!
I’m not done…. One more gem to add is this clip from PBS about youth unemployment which is at depression era levels!
Taking all that in you can now understand why I have been saying it and I will continue to rant on that this nation is in a stealth depression. Do not take my word for it do your homework you will see that facts and figures of today are worse than they were during the Great Depression! I’ll help you out with one to prove my point of a stealth depression. The food lines synonymous with the 1930’s have been replaced with EBT cards/ food stamps! Which by the way are at record levels as a new report out supports the 100 million argument stating, per the U.S. Department of Agriculture, “101,000,000 people currently participate in at least one of the 15 food programs offered by the agency”! 100 million out of work = 100 million getting food aid from the government!
The imagery of people waiting for food has been removed to keep people but really the markets at bay! So consider entitlement programs in place today that didn’t exist back then in your research! Programs which replace the lines of Americans looking for help be it jobs, food, housing etc. You don’t see it so you think the problem isn’t so bad or even there!
Ask yourself a few of these questions about the Great Depression:
How many Americans had a 2nd mortgage on their home? Heck how many people could even afford a home let alone carry another mortgage?
How many Americans had car loans/ leases of $20,000+?
How many Americans had credit debt of $15,000?
How many carried $50,000-$100,000 in student loan debt?
What were the interest rates on all this debt people carried compared to today? More money loaned out today vs the 30’s and they went under!
How much money was the Federal Reserve pumping into the system every month?
What nation was the industrial hub for manufacturing for the entire world?
Do you see where I am going with this! We are in more trouble than anyone, democrat or republican, will admit. These jobs reports are just a hint at a bigger problem that isn’t going away if you just ignore it…. like our “elected” leaders are doing!
None of our elected leaders, let alone Obama, have taken any steps to slow any of this down. This country is in a massive unspoken free-fall, the job numbers prove that! If the economy was recovering why are so many still out of work!? If manufacturing in the US is up then why aren’t more people working associated to the entire “food-chain” of making a widget? From getting the raw materials down to the sales person?
How many times have you heard someone say “this is the worst ____ since the Great Depression!”? Pundits will compare us to it but never admit we are in fact in a depression!!
So one is left wondering why don’t “they” just come out and say we are in a depression”? Answer to that is quite simple, for anyone to officially say the US is in a depression will result in a massive global economic collapse. Yes, to just say we are in a depression, will tank everything! Pretty much everything people have been warning about will happen very quickly where images of the uprisings taking place in Greece or in the middle east will be not only on US soil but everywhere!
The powers that be stay silent, come up with one unsustainable entitlement program after another while the Fed continues to pump money into the system! They devalue the dollar getting us closer to repeating what the Germans saw in the Weimar Republic. We are in a nasty repetitive disastrous economic cycle that sooner or later will implode! You can only run a motor at high RPM’s for prolonged amount of time until it finally blows!
Ehh but what do I know I’m just some crazy, tinfoil hat, racist, bigot, right-winger right leftists!