Well the latest employment report is in, and as usual the media pundits are chiming in with the producer instructed propaganda of a growing recovery. Here are some stat graphs from this report, and look at the labor participation rate. That's significant and won't be talked about on NPR, FOX, CNN, AP, REUTERS, and so no. Neither will the fact that those who can no longer file unemployment claims because they're past the maximum are no longer counted as "unemployed." We're saturated with purposeful delusion and capitalistic grandiosity to support consumer confidence, like a bunch of shoe buying lemmings. Like Pavlov's dog they'll repeat themselves all day long - "the recovery shows strong job growth" - until like a bell and a treat we feel as though the economy is getting better. Then why are 48 million Americans on food stamps? Why are states all over the country having to make hard and politically costly cuts? Why are home sales flat? Why is homelessness at a all time high? Why is worker productivity, that is, forcing more work out of existing employee's higher than ever? Why is the trade deficit so high? Worst of all, why do we have a deficit that is increasingly made larger past 1 trillion dollars with 15 trillion in the hole? That's no recovery countrymen, that's using a credit card when you're flat broke and deeply in debt to carry on with business as usual. Business as usual is making the rich richer, and the poor poorer.
So basically, I can pump trillions into banks by way of bailouts and operation twists while waiting for people to fall off extended claims, and I to can fabricate a recovery. It's like being caught flat broke at the end of a monopoly game and being given the bank tray to continue playing.
The truth has been beaten up and locked in a dungeon somewhere.
Yes.
ReplyDeleteAlso: Goldman and JP Morgan are worried that productivity per worker and exports are slowing.