Posted on 10/05/2015 7:18:40 AM PDT by Sean_Anthony
Routine
One of the biggest wastes of time imaginable is to read news stories about what’s expected in upcoming economic reports. Late last week, we were regaled with stories about how economists were expecting news of robust job growth, and how this would be followed by serious consideration on the part of the Federal Reserve Board to finally raise interest rates—which have been kept artificially low for years in the hope of spurring job growth.
But as is so often the case, the reality didn’t meet the expectations. Job growth stumbled again, with only 142,000 nonfarm jobs added to payrolls in September. And that follows an August that was even worse, at just 136,000. We’re not even adding enough jobs to keep up with the growth in population, which means that glorious 5.1 percent unemployment rate you keep hearing about is only because so many people are leaving the workforce and no longer being counted.
Glad someone is pointing this out. We have the lowest labor force participation rates since the 1970s. The next President is going to have a serious job to do just to re-establish some truth in the Labor Statics the Govt manufactures each month.
Anyone else notice, that during the Obama years, bad economic news simply isn’t reported, or is downplayed???
I recall a few years ago administration lackeys were trumpeting “job saved” or “jobs related to the stimulus” as key economic indicators. And a lap dog media went along with it.
7 years of this Carteresque economy and the lies coming out of the administration and their lackeys in the media.
The reprobate has been in office for seven years and 93.000.000 people out of work hell of a record to leave office with.
Yet none of the presidential candidates is blaming Obama and his failed economic policies for our terrible economy.
Donald Trump exploded into prominence by attacking immigrants as the source of our misery, while Bernie Sanders believes Wall Street must be destroyed before happy days can return. The other candidates hardly discuss the economy at all.
Yet as long as we maintain Obama’s policies of high taxes, high spending, increasing entitlements, and burdensome regulations, we will remain in our economic coma, even if every immigrant is sent home and Wall Street is turned into a collective farm.
We need a revolution to restore Conservative free-market policies. But unless even one presidential candidate is willing to stand up and propose reforms, even a simple one like across-the-board tax cuts, the revolution will remain a fantasy.
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