A Study in the Dismal Science
Michael Snyder has just done us – and you – a big favor. He’s done our homework for us. This is the title he chose for this homework lesson: “The Media Is Lying To You About Unemployment In America” – and if this doesn’t rile you, nothing will.
“February 03, 2013, ‘The Economic Challenge’ – Did you know that the percentage of the U.S. labor force that is employed has continually been falling since 2006 according to the Bureau of Labor Statistics? Did you know that the increase in the number of Americans ‘not in the labor force’ during Barack Obama’s first four years in the White House was more than three times greater than the increase in the number of Americans ‘not in the labor force’ during the entire decade of the 1980s?
“The mainstream media would have us believe that 157,000 jobs were added to the U.S. economy in January. Based on that news, the DOW broke the 14,000 barrier for the first time since October 2007. But if you actually look at the ‘non-seasonally adjusted’ numbers, the number of Americans with a job actually decreased by 1,446,000 between December and January. But nowhere in the mainstream media did you hear that the U.S. economy lost more than 1.4 million jobs between December and January.
“It is amazing the things that you can find out when you actually take the time to look at the hard numbers instead of just listening to the media spin. Back in 2007, more than 146 million Americans were employed. Today, only 141.6 million Americans are employed even though our population has grown steadily since then.
“When the government and the media tell you that we are in a ‘recovery’ and that unemployment is lower than it was a couple of years ago, I encourage you to dig deeper. The truth is that even the government’s own numbers tell us that the percentage of U.S. labor force that is employed continues to fall and that the U.S. economy is heading deeper into a recession. The Obama administration and the media have been lying to you about unemployment and about the true condition of our economy. After you see the numbers I have compiled in this article, I think that you will agree with me.
“First of all, let’s take a look at the percentage of the civilian labor force that has been employed over the past several years. These numbers come directly from the Bureau of Labor Statistics. As you can see, this is a number that has been steadily falling since 2006 …
In January, only 57.9 percent of the civilian labor force was employed.
“Do the numbers above represent a positive trend or a negative trend? Even a second grader could answer that question.
“So how in the world can the Obama administration and the mainstream media claim that the unemployment picture is getting better and that we are in a ‘recovery’?
“But most Americans believe what they are told. It is almost as though we are in some kind of a ‘matrix’ where reality is defined by the corporate-controlled propaganda that is relentlessly pumped into our brains.
“The only way that the government has been able to show a declining employment rate is by dumping massive numbers of Americans into the ‘not in the labor force’ category.
“Just check out how the number of Americans ‘not in the labor force’ has absolutely skyrocketed in recent years …
“In January, there were supposedly 89,868,000 Americans that were at least 16 years of age that were not in the labor force.
“That number has risen by more than 8 million since Barack Obama first entered the White House, and that is highly unusual, because the number of Americans ‘not in the labor force’ only increased by 2,518,000 during the entire decade of the 1980s.
“You sure can get the numbers to look more ‘favorable’ if you pretend that millions upon millions of American workers simply ‘don’t want a job’ any longer. The truth is that if the labor force participation rate was at the same level it was at when Barack Obama was first elected, the official unemployment rate would be well above 10 percent. But that wouldn’t do at all, would it? 7.9 percent sounds so much nicer. And of course, even if you do have a job that does not mean that you are doing okay.
“If you can believe it, in America today 41 percent of all workers make $ 20,000 a year or less. To me, that is a mind blowing statistic. It would be incredibly challenging for anyone to try to live on $ 20,000 a year, much less try to support a family.
“If you live in Washington D.C. or New York City and you have a ‘good job’ working for the establishment, you may not realize it, but there are tens of millions American families that are really hurting out there. According to the U.S. Census Bureau, more than 146 million Americans are either ‘poor’ or ‘low income’ at this point, and most of those people actually do have jobs …
“If something is not done, the middle class will continue to disappear and poverty in America will continue to explode. In a previous article, I noted that during Obama’s first term, the number of Americans on food stamps increased by an average of 11,000 per day. How bad do things have to get before people realize that we are living through a nightmare?
“Sadly, most Americans still have faith in the system. Most Americans are still convinced that our politicians will somehow find a way to turn things around. Most Americans will gather around their television sets this weekend and watch the Super Bowl and laugh at all the funny commercials without even thinking about how America is literally falling apart all around them. But there is one group of Americans that is acutely aware of how bad things have really gotten. Small businesses have traditionally been the primary engine of job growth in this country, but right now small business owners all over the nation are facing a tremendous crisis.
“Millions of small businesses are on the verge of extinction, and yet our politicians just continue to pile on more taxes, more rules and more regulations. A recent Gallup poll found that 61 percent of all small business owners in America are ‘worried about the potential cost of healthcare’, and that an astounding 30 percent of all small business owners in America are not hiring and fear that they will go out of business within the next 12 months …
“According to economist Tim Kane, the following is how the decline in the number of startup jobs per one thousand Americans breaks down by presidential administration …
Bush Sr: 11.3
Bush Jr: 10.8
“Is that a good trend or a bad trend? All of this is so simple that even the family pet should be able to figure it out, and yet most Americans seem oblivious to all of this. They just keep gobbling up the mainstream media propaganda and they just continue to go out and wildly spend money. It’s almost as if they didn’t learn anything from 2008.
“Even while household spending in Europe has moderated, household spending in the United States continues to soar. And guess what? The infamous ‘no money down mortgages’ are back. If we wait long enough, perhaps ‘interest only mortgages’ will make a comeback as well.
“Unfortunately, I am afraid that time is running out. We have been living in the biggest debt bubble in the history of the world, and it is only a matter of time before it bursts. 2008 was just a ‘hiccup’ compared to what is coming. Our politicians and the Federal Reserve were able to keep the house of cards from completely crashing down back then, but they are not going to be able to avert the economic horror show that is rapidly approaching.” –
[It’s becoming more and more obvious that the only way the U.S. can ‘avert the economic horror show’ is for the administration to institute an Emergency Shipbuilding Program – exactly the way FDR ended the Great Depression and created jobs for about 50 million of our unemployed.]