So, the government tells us the unemployment rate is just over 5%.
These are the same people who told you “if you like your doctor, you can keep your doctor”… that the attack on the Libyan embassy was a “spontaneous protest of an Internet video” no one saw… bureaucrats who claim the cost-of-living is lower because you can substitute cat food for steak (hedonics), and that there has been no price inflation, therefore they don’t have to increase government checks for those dependent on them… yes, the very same people who told you it was “necessary” to give trillions of dollars to Wall Street and international banks to save the world… that they need to keep collecting your private information, even though the FBI confessed it hasn’t caught a single terrorist because of those violations of the Constitution… the same kind of folks who “lose” their emails with no repercussions, while jailing us for doing the same thing… somehow you believe them about the unemployment number.
Uh huh, I see. I have a really cool bridge to sell you. Call me.
In the meantime, David Stockman continues to scream that the emperor has no clothes, and has the audacity to use facts to demonstrate that the unemployment rate is actually almost double that of the Great Depression–the only reason we don’t see bread lines is because we hand out SNAP cards, instead.
“At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
“By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!”
Yeah, 42.9% unemployment. THAT’s why this “recovery” doesn’t feel much like a recovery. But, hey, the politicians and bankers are doing just fine, thank you. Go ahead and keep letting them distract you with canards like that the removal of the Confederate flag will actually make things all better. It makes just as much sense as that Obamacare is Constitutional, a man can be a woman, a white person can be a black person, and two people of the same sex can be “married.”
R.I.P., American freedom: 1776-2015. Died of a terminal case of pathological lying, and widespread gullibility.