Another bogus jobs report is out claiming the unemployment rate has risen to “5%”. This number like all the others touted by this destructive deceptive administration is wrong. When calculated properly taking into account all who are out of work the UE rate is and has been holding at 23% (depression era level)+
The Bureau of Labor Statistics reported:
93,482,000 Americans are not in labor force
8,000,000 Americans are officially on the books as unemployed
=101,482,000 Americans out of work. (this does not factor in those who are working the system going on disability (hit record levels), as their UE benefits have run out)
For you naysayers or those who will say “bullshit” STR did not make these numbers up they come from the same regime whom YOU cheer for claiming low unemployment. The US would have to be creating 400K new jobs each month for any dent to be made and show true economic growth. That is of course impossible for a nation that is no longer a manufacturing super power as the number of jobs continues to decline with another 29K manufacturing jobs lost.
STR has been posting on this for quite sometime, it is like beating a dead horse. There is no economic recovery there never was. We are in the eye of the storm of a stealth depression where experts like Peter Schiff and Harry Dent are/ have been warning economic catastrophe is on the horizon which will dwarf the 1930’s and the smack to the back of our heads in 2008.
Time and again I have cited how social entitlement programs have replaced the imagery of the Great Depression’s unemployment and food lines. People remain just as down and out today as they were then. Yes, many are doing well today, just as many weathered the storm in the 1930’s. Some people lost everything others got a nice wake up call, but you need to understand all these programs the govt has set up are unsustainable. The US is broke, the fed has been printing money to pay the bills making the US dollar worthless. It’s just a matter of time until this all comes apart.
A nation built on service and retail establishments cannot survive in the the long term. We must become a manufacturing giant that we once were. The only way that happens is to get govt out of the way allow the free-market to operate as it once did. Get rid of the taxes, regulations, EPA standards that will allow companies to set up camp in the US vs outsourcing overseas to nations that use slave labor. No hitting product made overseas with tariffs will not solve the problem it will actually accelerate it and make the nightmare financial experts are warning about to happen sooner.
We have to innovate and unleash entrepreneurs to turn this country’s economy around for any chance to survive economic disaster on the horizon. We’re going to crash, the question is how hard will we hit!?