Posted on 10/04/2014 4:18:48 AM PDT by Kaslin
While many will be giddy because the BLS reported that job creation came in at 248,000, well above analysts expectations-- and because unemployment ticked down to 5.9 percent-- make no mistake: this is still a bad job market.
That’s because another 315,000 people left the labor force last month. When adding in the numbers of people who entered the civilian population (217,000) job creation is hardly keeping up with population growth.
The job gains, in fact, are not much better than in previous years. When one accounts for part-time work, discouraged workers and those who have dropped out of the labor force entirely, unemployment is closer to 23 percent, with no great sign of retreat from that number.
Six years into the so-called "recovery", the economy should be humming by now.
Instead any vibrations are merely echoes created by the government drumbeat that the economy is just fine.
True, there is plenty of money-- money created by the government via government-sponsored enterprises. And if the government is somehow unhappy with who has money today and who does not—as they seem to be-- they only have themselves to blame.
Some of us have said all along that the best way to get people who need money --actual cash in hand-- is via a paycheck. You can only do that when you encourage job growth. The best way to encourage job growth is to make it easier to hire people, not harder.
But you know our silly government, always doing it the weird way.
Instead they've created tons of cash, along with tons of regulation in hope of creating an economy as they want it to be, not an economy as it is.
These regulations say precisely how homeowners, home builders, doctors, patients, insurance companies, automakers, factories, students, public utilities, private investors, public companies, universities, airlines, cable companies, software companies, cellphone makers and even bakeries and dairy farmers can spend their own money.
That’s why despite record amounts of money supply, we have the slowest velocity of money ever on record. If monetary velocity were recorded like global temperatures are pretended to be, we’d be in a deep, deep Ice Age.
So along the way this government has created a class of people, like me, who’d like to tell some politicians what precisely THEY could do with their government.
Consequently, today we have both a capital strike AND a labor strike in response to a government that seems to care little for either. But if results are the true measure of intent, then one has to say that government just barely cares more for capital than they do labor.
After all, banks, as Willie Sutton said, are “where the money is.”
Today’s bank robbers are a bit subtler than Sutton. They only wave guns around when they have to. Instead they use the power of the grand jury, the power to prosecute both criminally and civilly any deviation from the approved list of activities that you can do with the money that the government created.
Unemployment benefits, disability benefits and welfare benefits are all on the list of approved financial activities one can participate in with the government’s money.
Creating jobs is too, kind of.
But job creation comes with so many caveats, prerequisites and conditions that, screw it, it’s just easier to stay at home and watch TV.
After all, someone can just hire a kiosk to do our jobs while we all collect our benefits. And if the benefit is not enough, the government can create more money and increase our benefits.
So, yes: The job market is so much better now that 315,000 people have given up looking for work.
Celebrate it; embrace it.
Marx thought the drudgery of work would eventually alienate labor.
But Obama’s figured out a way to avoid labor entirely.
The alienation he throws in for free.
Good one
Maybe they should all enlist and revive the old song:
You're in the Army now
Sitting behind a plow
You'll never get rich
You son of a bitch
You're in the Army now
The folks in the red T shirts are actually pawns. They were moved forward seeking $15.
Being pawns, they are unaware of the chessmaster making the move
The real reason or the move is to force a bottom up inflation is wages, not only among pawns but for rooks and bishops and even queens. The ultimate success of Obamacare depends on inflation of wages that masks the increase in the cost of health care.
If aliens had any hand in our economy, it’d be roaring, because then INTELLIGENT life would be involved.
I tend to agree, but they also lie about real inflation, which would auto-correct over time by a rise in wages (historically wages have beat inflation so our parents actually became better off over the years as everything went up). We are unique in that the efforts to destroy the Middle Class are succeeding by allowing "non-existent" inflation to run wild while keeping wages stagnant. Our generation (born in '50s and '60s) is the new "norm" in that our status deteriorates instead of improving as the world spins around.
The unemployment rate, when you include the dropouts is 11%. We need to be using the real number, not the government’so fake number.
Smoke and mirrors, just in time for elections.
I recently read that historically just prior to elections, the unemployment rate drops and then increases shortly after the elections are over. It will be interesting to see if that trend continues. I have a strong feeling it will remain on course as it has for some time. As I initially stated, “smoke and mirrors”. Odumbo’s crew want to make things look good for the incumbents prior to the election and unfortunately (for them) have to go back to reality after the dust settles.
http://portalseven.com/employment/unemployment_rate.jsp
if we stopped the influx of illegals and sent the ones here back to where they came from their wages would rise. Simple supply and demand. Obama would like it both ways however and as usual is only successful in pitting people against one another.
With over 92 million people out of the work force since Obama’s inauguration, not counted because they are out of unemployment benefits, no wonder this economy is up on blocks. If it weren’t for the Texas oil men and fracking, Obama would have had a full-blown Depression to his credit.
To: trebb
Where in the the hell has my country gone?
Well I have been wondering about the same thing for quite some time, but I have a feeling that those good old days are gone for good. As far as the $ 15.00 minimum wage is concerned it may very well pass some times or another, with the result being just as you stated that everything else will move up proportionally.
In the end the only thing what may have changed are the figures, but conditions pretty much remained the same. In order to bring about real change it will take education in subjects which count such as, math, science, physics, BA, etc.
On the other hand this would be detrimental to the socialistic (liberal) cause as it would deny them the lifeblood of their existence, as they thrive on keeping their constituents ignorant, dumb and preferably poor so they will keep on voting for them and in return keep them in perpetual power. That’s the whole idea behind socialism.
In the beginning it may very well start out with good intentions, but in the long run it usually ends with a flop. Once again bringing the old adage to mind “That the road to hell is paved with good intentions” But in order to recognize this it takes brains, and the only way to come by this commodity is EDUCATION.
I agree with what you said - add to ti the very real war to destroy the Middle Class and you have the perfect stage for a nation that has two classes - the drudges and the elites.
Opie: If I buy a thinner wallet does that mean I have more money?
Obama: Yes, and that’s not fair.
John, John, John don’t you know we are less than a month out of the election?
In their euphoria over their huge successes in 2009 and 2010, they forgot to massage the unemployment numbers and pretty much got creamed in the 2010 elections. But in 2012 they did a little manipulating of the BLS numbers ( and lots of other things) and SHAZAM the Low Information Voters swept them back into office.
I, for one would not be surprised if this did not happen again in 2014. Especially given the duplicity of their opposition.
I got an idea! Let's give all those 8 million, illegal aliens work visas.
Smoke and mirrors, just in time for elections.
***********
Exactly. I told my wife on Thursday night that the number would be 5.9%. This wasn’t any precience on my part; it was inevitable. The number HAD to be below 6% because they needed an October Surprise to help rescue Dem senatorial candidates. Simple as that.
But this administration has zero credibility now. People no longer believe anything they say so this “news” will be a one day flash in the pan.
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