Back in the shady days of the Clinton administration of the stained black dress, wagging fingers telling us he didn't have sex with that intern, and pals that got murdered with the Park Police in charge, we've got a change that occurred in 1994 that authorized the Clinton crew to modify the Bureau of Work Statistics. The technique included an alternative jobless rate that removed from the unemployment rolls those that were specified as the long run discouraged employees which the BLS crossed off the list of the ones that were considered unwaged. A Politically Skewed Manipulation With a politically skewed manipulation of the genuine unemployment figures getting whittled down to 8.3%, when the real jobless are figured in it seems like a truthful picture is found at the logical number of 22.5%. The manipulation of the numbers by the BLS makes it look like the Obama Administration is making progress when in fact real unemployment, when you count in the totals for employees that are now not looking, runs to 1920’s depression levels of the prior real number of 22.5% that John Williams of the “Shadow Government Statistics” who has railed for years that the fed twists the numbers to make them say what they would like them to say. What is a Depression? The media in the finance world usually outlines a money depression as being a loss of ten percent in the GDP (GDP) which is more than anything merely a rough rule.
Ronald Reagan once claimed, “Recession is when a neighbor gets sacked. Depression is when you lose yours.” Numbers Are Skewed for Political Reasons In a world where the thought of attempting to research a macroeconomic happening measured in dollars in a world in which cash is electronic debt, property is still falling in value, capital investments moves freely across industrial borders, inexpensive work immigrates across our southern borders unrestrained, and legislators leave the government’s largest costs off the books has become ludicrous over time . How could you ever try to figure out if the economy is expanding or contracting when the numbers used are skewed for political purposes? Press Release Says A February. 2012 press release from BLS informed the public the rate of unemployment had fallen 0.2% from the previous 8.5% we formerly had in Dec. Of 2011. However, the part of the report that did not make the evening news is the BLS reports the U6 unemployment is 15.6%, U6 meaning those people who were slightly attached to the work force in what's now called the under employed, folks looking for full time wages but had to accept part time roles.
So in not releasing those figures, then dropping those employees who fell off the radar after looking for jobs for a year, it is reasonably clear what the present administration is attempting to do. Williams reported that the stats of 8.3% that made the media sound bites were mathematically manipulated and just simply not plausible. Adding Back Williams put it this way in a statement, his official Alternative Unemployment Rate comes out to be 22.5% when you add into the Bureau of Labor Statistics U6 numbers, the long called laborers that have fallen off the radar, and have stopped attempting to find roles the year just gone. The BLS naturally only reports the U3 stats that are adjusted seasonally which was the 8.3% that was blared out over every news media station. Keystone Nuked You can tell just by taking a look at the BLS own fully reported stats the nation is actually in trouble, has been for quite a long time, is improving no time shortly, and there seems to be no remedy on the horizon coming down the line.
The torpedoing of the Keystone pipeline that was to run from Canada down into Houston Texas would have employed at the peak at least 100,000 roles directly and another twenty thousand roles indirectly, has been moved to the back burner. Unwaged Recovery The jobless recovery scenario is a little more nebulous, with the precise timing of the recovery unknown, with very little growth for the future estimated, and liable to turning into a double dip recession, the uncertainty of the foreign export markets, contractions in the Western european and Asian markets, the double dip looks like the ice cream of the future. Obama Impulse a Bust While the Obama stimulus package is like a bust, the call for more recovery money not looking good, the authorities and the economists saying that whatever industrial growth we do have will not sufficiently cut back the unemployment numbers and the figures will be much higher than standard, the look for economic expansion looks bleak for 2012 with minimal expansion forecast. The Straight Ahead Future Investigating this crystal ball into the straight ahead future, while automobile sales have been good, producing up a little, and enough money flowing into the treasury to pay the required bills on time, if things just stay the same the double dip still looks like it could occur with the jobless recovery in full bloom. Those that stick to variants of the unemployed recovery say the USA is headed straight for a prolonged unemployed recovery where only particular portions of the economy will recover while other segments will remain stagnant. The Reality Is Different What we actually have waiting for us is historic danger signs that there are inflating numbers of consumer bankruptcies and mortgage defaults, credit debt is out of view, there is also the unknown impact of enough possible bank disasters to render the FDIC insolvent, the possibility of a U.S. State like California going bankrupt, or a likely crash in the derivatives market.
Not talking to the fact that being 4 trillion in debt will do anything good for the future economy or the out of control printing of money by the Federal Agency could have on our inflation scale when the working class won't be able to keep up. My opinion on this is the future looks so bright I should wear shades.