The cognitively challenged individual downplayed and fingerpointed the US hitting the highest level of inflation since 1982 at 6.8%. By the way if the rate was calculated the old CORRECT way, inflation is really 15%! You're paying more while getting less for your money and paid less is being passed off as some transitory (temporary) effect we'll get over while this regime is out of control spending YOUR hard earned money. They haven't stopped printing money since 2008 which will eventually lead to the US being the Weimar Republic 2.0.
The economic catastrophe this site has been warning about is still coming, we're just in the eye of the storm getting dangerously close the wall. When we hit that wall don't say you weren't warned. 'You' cannot spend billions.. trillions, giving money away faster than its coming out of the printing press and not expect that rubber band to snap back HARD. We're either going to end up like Venezuela or worse when the bubble finally bursts.
Wow the jobs rate drops to 4.6%, the lowest it's been since 2007! A whopping 178,000 jobs were created in a country of 330million. That obama and his economic policies are working our great aren't they!?
Surely you don't believe what you're hearing about the state of the US economy? Curious America, is the FAKE NEWS media telling you why the rate dropped? Did they tell you another 446,000 Americans have given up looking for work? Those no longer included in the labor work force rose to 95,055,000.
For the hard-headed out there saying the economy is great and my numbers are wrong, no you are wrong. STR doesn't make these figures up, they come directly from the U.S. Bureau of Labor Statistics
95,055,000 Americans are NOT in the labor force
+7,400,000 Americans are unemployed (on the books)
= 102,455,000 Americans are out of work
As always this number is much higher if you factor in those who worked the system who are now receiving disability insurance which is at record levels.
The real unemployment rate remains at 23% just below where it was at the height of the Great Depression(25%).
I've been posting about the job numbers and state of the economy ad nauseum for years now. Things are not sunshine and rainbows, the state of the US economy is dismal. You cannot have job and economic growth in country whose economy has shifted to being service based vs manufacturing. We don't make anything here and until that happens the number of jobs available will continue to dwindle. With the onset of technology, robotics etc it will become even harder for people to find work. The people protesting #Fightfor15, aka $15'ers, cannot understand any of this. They don't realize their actions are only accelerating automation within the service industry as I warned last year!
Do not expect to see drastic changes under the incoming Trump administration either. Proposing to spend $1 Trillion on infrastructure from the start to already out of control spending is not going to help matters. We have a massive economic bubble powered by residential and commercial estate...
... along with student loan debt topping $1.3Trillion on their way to bursting. As Harry Dent warned when the economic bubble bursts, it will be the final bubble to burst.
IF Pres-Elect Trump can bring manufacturing back to the US it could slow down the inevitable. But not if the level of debt which is much greater than the $20 trillion being thrown around isn't addressed. Offering financial favors and tax incentives to companies is not going to solve our problems, you're just moving money around from one pocket to the other. We need a new pocket full of money to tap into, a massive economic boom has to happen, otherwise Trump's plans are just pumping more useless drugs into a terminally ill patient.
Spend your money wisely folks. It's better to tie it up in assets than sit in a bank that may go under in which you could be on the hook to bail-in! Yea! You might want to find out if your bank is one who changed its terms
U.S. Job Seekers Giving Up, Leaving the Workforce by Suzanne O'Halloran | Fox Business
A job-seeker completes an application at a career job fair in Philadelphia, Pennsylvania, U.S. July 25, 2013. REUTERS/Mark Makela/File Photo
Reuters (Philadelphia Job Fair )
More Americans are kissing the workforce goodbye – not because they’re financially secure but because they can’t find a job. A record 95 million people are sitting on the sidelines opting not to work. As a result, the labor participation rate is stuck at 62.7%, a 40-year low.
“There are a certain percentage of people staying home,” said Dan North, economist at Euler Hermes, during an interview with FOXBusiness.com. “If benefits are great in some states, people will just stay home,” he noted. Those benefits may include welfare, food stamps and Medicare.
“It’s not that people are lazy, they are just not stupid,” Michael Tanner, senior fellow at the Cato Institute, which advocates limited government, tells FOXBusiness.com. Tanner, who studies poverty issues, also notes the federal welfare system is very complex and has around 70 programs, making it more complicated to fix...more
Another jobs report is out demonstrating time and again there is no recovery, no job or economic growth. None of the lies that comes out of this administration about the state of the US economy is good. Only the US govt could say the unemployment rate dropped to 4.9% from 5%, while reporting 425K people have left the labor force in the "same breath"!
Per the Bureau of Labor Statistics, this is the govts numbers. The same govt you know who cooks the books as it is to make things look good...
94,609,000 Americans aren't in labor force
+7,787,000 Americans are unemployed
=102,396,000 Americans out of work
To put those numbers into perspective...
94,609,000 NOT IN LABOR FORCE...
Population of:
Australia: 23 M
UK: 64 M
Switzerland: 8 M
Total: 95 M#JobsReport
... that's a lot of people looking for work! If you think this analysis is bs then answer this simple question: How can the unemployment rate remain around 4.9-5% while more people are out of work?
This BLS report proves the feds are misleading the public about the current true unemployment rate which is and has been holding at 22-23% for years. (When calculated correctly).
The UE rate is just shy of being at Great Depression era levels (25%), yet obama and Hillary Clinton are campaigning today praising the report!
These economic reports in fact show a stagnant economy in the eye of the storm of a stealth depression. When the markets finally give those in power will not be able to hide the truth we all know let alone stop the economic collapse. Are you aware the stock market has been dropping for 9 consecutive days, the longest in 36 years?!
The powers that be keep news like this quiet and have been lying to us for years if not decades as they prop up our economy with printed money and tweaked economic numbers.
Spend your money wisely America, buy what you need, buy things of quality because all that paper money is going to be worthless when the final bubble bursts!
As America goes into the Labor Day weekend the govt released employment numbers showing no growth and pushing a deceptive claim the unemployment (UE) rate remains unchanged at 4.9%.
94,391,000 out of the workforce
+7,800,000 on the books unemployed (fed UE rate 4.9% is based on)
= 102,191,000 million Americans out of work
These are the federal govt's BLS numbers STR did not make them up. These numbers continue to prove without a shadow of doubt the US economy continues to flat-line. There is no economic recovery as pres obama claims. 151K jobs were created in August, when we need to see at the least 400K per month, is not an indicator of recovery. The majority of jobs being created are part-time no thanks to this admins anti-capitalist position via taxes, regs (ie EPA) and the damaging after-effects of obamacare.
The real unemployment rate of 23% continues to sit just under the Great Depression era level of 25%. Take a look at this graph as the number of people who left the workforce increased the govt UE rates decreased.
Those who are long term unemployed the jobs you had are not coming back. Companies have learned to operate with a smaller staff after the 2008 crash, assigning more responsibilities/ duties/ work to those who are fortunate enough to keep/ have a job. Businesses have wised up removing the middleman going direct to customer to cut costs and remain competitive in a down economy. There are less jobs available, people are making less, paying more because we are in a stealth depression.
This will never be admitted or acknowledged because, as explained numerous times here, to just say the economy is in a depression would cause financial markets to collapse.
It is the equivalent of telling a family a loved one on life support who is brain dead is showing signs of recovery giving them hope. If you tell them the truth their world will obviously fall apart. Same is true with this govt and the economy. They keep saying the economy is weak but we're in a recovery to give people hope when they should really be preparing for a fall when economic bubbles finally burst.
Student loan debt is in the trillions. Exactly how are students going to pay their debt back when the job they're being trained for in college doesn't exist?
The Fed has lent out entirely too much money at 0% interest rates devaluing the dollar for years! Because of that we've had a small boom in housing but remember people are buying homes who are just able to make the payment at 2-3%, what happens when rates go up to get all that printed money out of circulation?
The stock market is hitting new highs, but who is making all this money? It's not like how it was in 2000 (mind you that blew up). Some argue the new highs are a result of companies buying back their own stock to boost prices. Many companies also have high valuations because they're sitting on a pile of money, they're not re-investing into new business and employees but for whatever is coming down the road.
The US is now $19.5 TRILLION in debt and that's just the tip of the iceberg. When you factor in unfunded liabilities, Social Security on its way to zero etc we're in a ton of economic trouble.
There is NO WAY to fix this problem, a reset is inevitable we just don't know when because the Fed and leaders keep doing stupid things like Quantitative Easing, aka printing money, to delay a major economic crash. They should have let the walls come down in 2008, instead they made matters worse.
Posting about this is like beating a dead horse at this point. Either you know this economy is in shambles and a day of reckoning is coming (as econ experts are warning) or you believe everything is sunshine and rainbows while the world burns around you.
For the doubters out there let's get the math out of the way.
These numbers are based on the govts Bureau of Labor Statistics, STR didn't make them up!
94,708,000 Americans out of the labor force
+7,400,000 Americans on the books listed as unemployed
= 102,108,000 Americans out of work!
Now keep in mind this number doesn't include those who are using their disability insurance (at record levels) after their unemployment benefits ran out!
If the economy, according to obama, is in a recovery...
... and we've been saved from another depression then why are over 100 million Americans still out of work? Why did only 38,000 people find a job in May? Why are Americans bringing home less money now than they did 8 years ago? Obama just this week bragged about job creation and how well the US is doing but let's be honest those jobs "created and saved" are part-time jobs being filled by Americans who already have a full-time job or 1-2 part-time jobs because there is no full-time work available.
Now for that employment rate of 4.7% the imperial obama regime will brag about, it's a joke since another 450,000 left the workforce and were not factored in(as always). The true unemployment rate continues to hold at 23%...
FYI the highest the UE rate was during the Great Depression was 24.9% in 1933.
So why are people bringing home less and no full-time jobs available? I'll tell you why as I have been saying repeatedly here for years:
There is no economic recovery. We were not saved from an economic depression because we are in fact in the eye of a storm of a stealth depression that will get worse.
What nation in history has ever pulled itself out of a depression when it produces nothing? All the great economic scholars would laugh to hear a debtor nation whose economy is based on service is proclaimed by its leader to be in full recovery with less than 1% GDP growth for the quarter.
Spend your money wisely America. There is absolutely nothing saying we couldn't end up like Venezuela!
The Great One said clear as day there is no way out of this mess. Levin prefaces this warning that we need to get control over spending, borrowing, entitlements which you know there is no will to do in DC. Why? Because the big govt junkies and statists who are spending and borrowing like "drunken Marxists" do not care about those who will be left holding the bag. You see these elites are building their wealth at an accelerated rate, loading their coffers so when SHTF they will be okay while the rest of us have to fight for the last loaf of bread!
Don't take my or Levin's word on this, do your homework and you will see many in DC wealth has skyrocketed along with the grip on power. The elites are buying a lot of property and hard assets instead of holding onto cash. They know it's all going to come apart and the system will collapse. I just posted a video of economist and author of "The Death of Money" James Rickards more or less said the same thing. Rickard's says many within the financial sector know the global economy is going to come apart at the seams. Watch what they do, where they put their money and who they are buddying up with. Hey Soros is a bad guy but if you have the means to do what he does with your money you have a heck of a good chance for success!
You have to be wise with your money right now. Buy what you need, save a little longer and buy the better quality item vs the one that is a little cheaper. If you can invest in precious metals, stones and other hard assets, but honestly you're better off investing in brass! You can't eat gold but a cartridge of brass may put some food in your belly!! Prepping isn't just for the hicks in the hills, smart people prepare. Having food stores is not crazy, it's smart because anything can happen. Storms, power outages, massive terror attacks or banks closing could happen tomorrow.
Economist & Author of "The Death of Money" Confirms 'We Are in a Depression'
Finally an economist who tells the truth! James Rickards is no conspiracy nut or basement blogger, he is a portfolio manager at the West Shore Group, an advisor to the Department of Defense and US intelligence community on international economics and financial threats and he part of the first financial war game at the Pentagon. Rickards appeared on the Glenn Beck Radio Show May 3rd to break down the inevitable economic collapse we are headed for. As you know STR has been arguing for years the US is not in a recovery, never came out of it and has been in a stealth depression. While going over options to avoid economic catastrophe (that just won't happen because of the power elite) Rickards flat out confirmed everything I have been saying and that 'we are in a depression'.
So what?
Well this is just another confirmation of my theories on the state of our economy and the lies being shoveled to the American people on a daily basis.
Many economists have warned when SHTF it will not be anything like the 1930's... it will be much worse! Look at the panic when major storms hit (snow, tornadoes, hurricanes), where store shelves are emptied. If we go to the extreme remember back during Katrina where people had signs asking for help because they were so unprepared. Natural events be it storms, tsunamis or earthquakes have given us plenty of red flags that food, water, fuel, medical aid etc will not be available. In general people should have some preps because anything can happen.
This confirmation should be an alert to Americans to hope for the best but more importantly plan for the worst. Does that mean you clean out your bank account build a bunker, loading it up with survival food and gear? No, but it doesn't mean not to make preparations. In other words be more careful on what you buy and make sure it's what you need and things of quality. Buy an extra can of soup or bottle of water when they are on sale. If you can afford to buy food storage for 3 or 6+ mos then make it happen. Yes, buy a gun (if you don't own one already) get proper instruction and extra ammo because when SHTF the cops will not be there when you need them. Progs don't like this kind of advice but they are the same ones who live in their ivory towers surrounded by a large walls/ fences and have armed security!
Consider James Rickards "testimony" and this post one more warning to the countless ones you have heard that trouble is coming. When? No one knows but isn't it better to be prepared than not?
There is only one honest reply to the Minister of Propaganda... LIAR!
What kind of sick individuals praise writing off 100 million Americans out of work as a success? Yes, unemployment is down only because so many have given up looking for work, many no longer qualifying for benefits are not being counted.
What about the record 46,000,000 Americans receiving food stamps for 38 straight months? Or how about the 48,000,000 living in poverty? Is this something to brag about, that people do not have enough money for food and are living in poverty!? Does any of this sound prosperous to you?
The economy is not booming, there was no recovery and we have NOT staved off the second Great Depression. The US is in fact in a stealth depression and has been for years. Countless times I have said that the economic numbers of today dwarf those of the 1930's that the food lines, job lines etc all images of the first Great Depression have been replaced with unsustainable social entitlement programs. The country is broke, this is a fact or are you not aware of the $18,093,530,000,000 national debt? Do you know that $7,500,000,000,000 of this number has been racked up under obama? The banks, big auto have all been propped up by govt bailouts. The Fed has pumped billions of printed/ digitized money into the economy which has in fact devalued the dollar while charging 0% interest on (printed) money loaned out. What you have here folks is a rubberband being stretched out beyond its tolerance and it will snap back. It's not a question of if but when, and when that happens all hell will break loose...
Earnest, obama, all the bobbleheads in DC for the State of the Union speech have all played a willful role in the destruction of this country. Instead of trying to slow things down and prepare they spend more under the guise of investment by taxing Americans to no end. The longer these idiots lie and delay the inevitable economic collapse the worse it will be for everyone.
There is no one in DC heeding the constant warnings coming out of the financial sector about the unsustainable levels of spending and debt. They won't even listen to the CBO warnings what does that tell you? They don't care because they are making plans for a new system giving them more power and control (wishful thinking) while the old one collapses. Remember nothing ever goes according to plan for these dopes because they lack basic real world experience, everything is based on unproven theories.
Levin is right about the republican party playing on the democrat playing filed because the modern republicans ARE DEMOCRATS! Modern democrats are socialists (some most likely are closet communists), both are progressives! This one party rule has the nation on a destructive economic course that if we stay the course....
I think that ^^ might be what the Great One was trying to suggest as to what happens when the economy collapses which will lead to a domino effect with a collapse in society, collapse in the rule of law, etc. Why is it only conservative radio hosts are the ones putting these warnings out? Because the powers that be want the nation dumbed down completely dependent for whatever new system of power and control they will unveil. They actually think when SHTF they will be able to maintain a level of control when there is chaos in the streets! Their arrogance is going to be their undoing, where as the people's ignorance and complacency will be their undoing! Throw them all out America before it's too late!
CBO Dire Debt Warnings Show Nation's Democrat Future InvestorsBusinessDaily
Big Government: The Congressional Budget Office warns of a terrifying, unprecedented level of national debt in the coming decade. That fits nicely with Democrats' objectives, but not with our nation's founding principles.
Andrew Jackson, who in 1835 succeeded in paying off the national debt, was famous for considering debt slavery. The current fiscal path the U.S. is on does indeed lead to slavery, but the slave masters of the future will be well-heeled politicians and federal bureaucrats, not plantation owners.
The CBO's new budget projections contain an eerie warning that we are on path from today's already unfathomable $17.7 trillion in gross federal government debt to more than $27 trillion in 2024. This in spite of finger-crossing projections of tax revenue over the next decade exceeding its 40-year average as a share of GDP.
Debt will reach 78% of GDP by 2024, CBO warns, which is double the 39% average of the past 40 years.
The consequences will include big hikes in spending on interest payments on the debt when interest rates go back up. That, in turn, would increase the cost of investment and "the capital stock would be smaller, and productivity and wages lower, than if federal borrowing was more limited," the CBO warns...more
