Posted on 09/22/2016 5:01:10 PM PDT by Right-wing Librarian
"With around 94 million people out of the workforce, and the near record low Labor Force Participation rate, former Assistant Treasury Secretary Dr. Paul Craig Roberts says, “The Labor Force Participation rate never falls during a recovery. It rises because people are entering the labor force to take advantage of the strong economy and jobs. So, there isn’t any economy.
There is a house of cards that is held together by central bank money creation. The money flows into financial assets. That’s what keeps the stock market up, and it flows into bonds, which is why we have essentially 0% interest rates. . . .
So, the economy is essentially a hoax.”
Join Greg Hunter as he goes One-on-One with economic expert and award winning journalist Dr. Paul Craig Roberts."
Oh that’s funny.-(sarc)
Had to go to the crazy “Keiser Report” on RT Russian Television to get any sort of insight into the recent big hoax that median family income grew by over 5 percent last year - turns out that actual paycheck earnings grew by only about 1 percent - the rest of the “growth” was made up by other “income” such as money brought in by student loans - but, hey, the 5 percent number sure looks good in an election year......
P.S. -- This is why every government and business organization is hell-bent on maintaining an open-borders policy. We don't need these immigrants for their cheap labor ... we need them to replace a lost generation of consumers.
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Actually, English, from when English kings lopped off heads for entertainment or to complete a divorce.
PCR alert
He also dynamited the World Trade Center. According to Paul Craig Roberts.
What's the proper number? How many should be out of the workforce?
No he doesn't.
QE ended in October 2014. They've held their balance sheet steady since then.
That is more than $10 trillion fiat dollars during his reign of terror.
The Fed's balance sheet, pre-crisis, was less than $900 billion. Today....$4.4 trillion. An increase of less than $3.6 trillion.
Old people, children...illegal aliens.
Students....inmates
I am confused. If we stop employing immigrants (especially those that are here illegally) and citizens take the jobs won’t those citizens consume? I would think it would be better for our economy if jobs were held by citizens since illegals tend to send a large part of their pay back to the country they came from...meaning they are not using that portion to consume anything here.
They still have to eat.
They still have to live somewhere.
They don't all walk to work.
And keep in mind that we simply don't have enough citizens to fill the void left by the 50+ million we've aborted since Roe v. Wade.
Lots of students work (or they should) and inmates should all be in the rock-breaking industry.
I was going to say “stay at home moms”...but that occupation is a very hard and valuable job.
I don’t believe in conspiracy theory, but I do think Shrub led America to decline in a big way. He is a moron.
“We don’t need these immigrants for their cheap labor ... we need them to replace a lost generation of consumers.”
Unfortunately that is a monumental fallacy, wealth is not, never has been and never will be created by consumption.
We have been beyond that for years. Everything we do is about creating revenue -- tax revenue for government, sales for business, etc.
1. We were coming off a period of strong financial performance, though much of it was illusory (think of all those "dot-com" companies with ridiculous stock prices even though they made no profits).
2. We were entering a period when the first Baby Boomers would be retiring in large numbers. This was a significant turn of events because we had a very large (and growing) cohort of people who could be expected to live another 20-30 years with declining (or non-existent) productivity and growing taxpayer expenses associated with them.
3. Nobody had the political will to deal with Item #2 -- mainly because any move to cut entitlements was a political landmine (think of what happened to the Democrats in 2010 after passing ObamaCare with its $500 billion of Medicare cuts).
So here we are in 2016, with a stagnant economy, government spending out of control, and a national debt that now exceeds $60,000 for every man, woman and child in the U.S. And there is really no way to deal with it other than by importing tens of millions of new people who will be dumb enough to come here and take on their $60,000 debt to support the fading, declining Baby Boomers.
I contend that most of what we've seen here would have happened regardless of who was in the White House from 2000 to 2016.
On the one hand, as an example, the company that is presently my main source of consulting work has engineers and others from many countries, here legally, and they came here as highly skilled and valuable people, hired for particular skills and knowledge. My own wife is a legal immigrant, again well educated, skilled, etc. These people are net gains in many ways.
However...
A typical illegal alien & their family are a net drain on gov’t resources, not a net gain. And most live VERY frugally, unless they are in the drug trade. Even many legals (e.g., migrant workers) get by on what I would estimate are 1/3 the expenses of an average middle class US citizen. Food IS still a significant expenditure, but food is low or no-taxed in many states, not (directly) Federally taxed, and due to gov’t subsidies (another drain), while many of us complain, food is still “pretty cheap” compared to most other commodities, unless you insist on lots of beef or higher-end seafood in your diet. Transportation is often by group — “10 people in an old minivan” is not as much of a stereotype / caricature as you might think. Meanwhile, money pours out of the country.
These people sure aren’t out there buying new bass boats.
As for abortion, there is some truth to what you say, but why do most women have abortions? It’s economic pressure. Some may just not want the bother of a child, but again more typically, the woman simply doesn’t think she can afford the child. If she could, voila: Lots more consumption.
Direct observation, on all sides of it, for many years. Maybe you should try it.
Well, yeah, if "our capacity to produce" includes the Chinese, the Koreans, the Mexicans...
Consumers are not consuming because we don't have the freaking wealth (yes, I said wealth) to do so, because good jobs are so scarce. The upper 20% are doing ok, the rest of us, not so much.
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