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Obama: Jobs Destroyer
by Stephen Lendman
Phantom numbers conceal dire conditions. Reports are manipulated to distort reality. Last year’s data overstated about half a million jobs.
Seasonal adjustments turn reality on its head. So does the so-called “birth-death model.” It estimates net non-reported jobs from new businesses minus losses from others no longer operating.
During current economic hard times, it magically creates nonexistent jobs. Even the Bureau of Labor Statistics (BLS) admits misreporting, saying:
“The confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.”
Mark Twain’s maxim about lies, damn lies and statistics perhaps applies mostly to government managed news misinformation. What matters most is concealed.
Claiming economic conditions are sound when real unemployment is 23% is one of the worst damn lies. Bipartisan complicity to destroy America’s social contract when it’s most needed shows total disregard for vital needs.
It proves government officials are enemies, not allies. Labor market reality reflects it. Monthly jobs reports are more trick than treat. Nearly 25 million Americans remain jobless. Low-pay/poor benefit part-time or temp ones replace full-time ones.
Each fall and winter well above trend job gains are reported. Every spring and summer, they’re reversed and then some. Hundreds of thousands of previously reported jobs vanish.
They never existed in the first place. Phantom numbers replace real ones. Official ones are statistical illusions. Obama is more jobs destroyer than creator.
The latest jobs report underwhelmed. Economist David Rosenberg said “classic measures of employment dispersion or breadth receded significantly.”
He asked how can growth be sound when 212,000 part-time jobs replaced full-time ones for “economic reasons.”
“And the broadest measure of unemployment remains stuck at a depression-like 14.4%.” For the past four years, long-term unemployment practically doubled to nearly five million.
I’ll take years to undo the damage. It’ll never be undone if destructive policies substitute for constructive ones.
It’s happening when economic conditions are weak, real inflation is high, food costs are soaring, taxes increased, and Washington’s waging war America’s social safety net.
Headline reports on January jobs ignored broader Household (population) Survey data. It documented 1.5 million fewer workers. The Establishment (Payroll) Survey lost 2.8 million.
People dropped out because of no jobs. Doing so makes them non-persons. They don’t exist. They’re not counted.
Season adjustments distort month-to-month reality. Raw data reveals hundreds of thousands fewer employed than headline numbers.
Month-over-month, the employment/population seasonally adjusted ratio was unchanged. Unadjusted it dropped 0.6%. Each tenth of a percent = nearly a quarter million people x 6 = nearly 1.5 million.
Seasonally adjusted unemployment numbers rose 117,000 to 12.332 million. Unadjusted numbers increased 1.337 million to 13.181 million.
Unadjusted numbers reflect people wanting work who can’t find it. Adjusted ones conceal reality. Phantom data substitute fiction for fact.
On February 1, Economic Collapse headlined “Shocking Numbers That Show The Media (Lie) About Unemployment in America,” saying:
Labor force numbers have been contracting since 2006. In Obama’s first term, they were “more than three times greater than” the increase in “not in labor force” Americans throughout the 1980s.
Hundreds of thousands of new jobless workers belie headline numbers. In 2007, over 146 million Americans were employed. Today it’s 141.6 million despite annual population growth.
When government and media scoundrels say recovery’s proceeding on course and “unemployment is lower than” two years ago, they’re lying.
Facts show they fake it. BLS reports them quietly. Administration officials and media scoundrels ignore them. They show annually dropping labor force totals since 2006.
Doing so reveals economic weakness, not strength. Nothing ahead looks promising. How can it with destructive policies substituting for stimulative ones.
In January, nearly 90 million aged-16 or older Americans aren’t in the labor force. In four years under Obama, the total increased over eight million.
Over 40% of workers earn $20,000 annually or less. Over double that amount in urban America is needed to support family members. In many major cities, it’s much more.
Households live from paycheck to paycheck. They’re unprepared if trouble arrives. Euphoric markets pay no attention. They’re approaching record highs.
They’re disengaged from Main Street. They buoyed by money printing madness. Since 2007, world Central banks created multi-trillions.
How much they won’t say. In America, estimates range up to $23 trillion. Piling on did nothing to resolve crisis conditions. Currencies have been debased. Future inflation issues are raised.
Last fall, the Bundesbank fired a warning shot. It wants its Fed-held gold reserves audited. Germany wants part of them repatriated. Doing so could prompt a chain reaction.
At issue is lack of trust. Things aren’t as rosy as portrayed. Deep-seated trouble lurks sub-surface. Recovery is built on a house of cards. Shocks can crater it when least expected. Economic warfare could trigger it.
Goldilocks economies can turn rancid any time. Crisis conditions can erupt globally. Economies are interconnected. Contagion spreads. Debt entrapment, banker occupation, and austerity harm every country run irresponsibly.
It affects others. Problems keep festering. Irresponsible policies assure worse deep problems. Day of reckoning time eventually arrives. Forewarned is forearmed.
About the Author: Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net.
His new book is titled “How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War”
Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
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Posted by Stephen Lendman on Feb 5 2013, With 0 Reads, Filed under Economy, Editor. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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“Goldilocks economies can turn rancid any time…” Not Goldilocks, methinks… More like Red Riding Hood, raqlly.
“But Mister Bankster’s President, what great big ears you have!”
“The better to hear your pain, my dear…”
“But what great big EYES you have!”
“The better to WATCH you with, my dear…”
“But… But what great sharp barb-wire TEETH you have…!”
“THE BETTER TO DEVOUR YOU, MY DEAR!!!!”
And now the post-Sandy-Hook Woodsman is being told by the Feinsteins of this world to just give up his Axe(sic). Someone’s spoilin’ for a fight or a slaughter or sumpin’, that’s fer sure…
And that ain’t all. 0{:-(o[
Because every longer comment is blocked, I divide it into smaller parts.
First:
Again, I have to say, that only focussing on politicians without ever mentioning the real culprits behind them can be very misleading. Who is running the theatre?
I read a book about the murder of Olof Palme these days, former head of the socialists in the world and a former “hope” of some of third world countries. Nothing but a joke, if you take into account the real history: More than half of his ancestors where fascists, major players in the szarists “checka”, high up persons in “IG-Farben” and so on. He used rhethor to controll the anti Vietnam movement in Sweden and other countries, he knew how to play with people, but he was “sooooo” social, that many people loved him.
Again, I have to say, that only focussing on politicians without ever mentioning the real culprits behind them can be very misleading. Who is running the theatre?
I read a book about the murder of Olof Palme these days, former head of the socialists in the world and a former “hope” of some of third world countries. Nothing but a joke, if you take into account the real history: More than half of his ancestors where fascists, major players in the szarists “checka”, high up persons in “IG-Farben” and so on. He used rhethor to controll the anti Vietnam movement in Sweden and other countries, he knew how to play with people, but he was “sooooo” social, that many people loved him.
Now, what you are telling us article by article is, the government is bad. Please talk a little bit more about those behind the scene, those with rral power. Those who forces politicians to makes laws the favour them. Why is there only the neverending wish to project any bad things on politicians and at the same time not mentioning, who is really pulling the string and into what direction? Makes me wonder.
This is more like it Steve, as unfortunate as the truth is. It must be said that the pro-immigration article you wrote recently is completely contrary to this piece. Having 30 million illegals (the 11 million figure is bs) legalized along with whatever chain migration when they bring all their family onto the welfare rolls or low level jobs will crush what dismal economy and jobs there is/are left. This is by design, on purpose and we know it. The poor in this country need the jobs and services that are being sucked dry by illegals and the millions of kids they’re producing which they do not pay for. Further, their presence grows the entitlement culture overall which is problem itself, as is the crush on the environment from over population. An over population by stupid, pig-selfish entitled humans.
I hope you see the contradiction between your immigration article and this article, the logic you normally offer. Thanks for this article, and for the bulk of your works.
Good work Steve, the latest phantom figure of 7.9% unemployment is a total joke! There are no more “checks and balances” in Washington, honest statistics would hold politicians responsible for their failures.
Obama is an empty suit, to blame him is easy. It has been a concerted effort on the part of the Congress, the Judicial, and not to forget the globalist think tanks and steering committees; http://www.infowars.com/globalist-funded-think-tank-says-poverty-will-save-planet/
All adding up to a new high tech feudalism, where we are equally poor and destitute, and the elites will live in grandeur unequaled in all of history; only this time, they have the technology to keep tabs and control anything or anyone who challenges their historic hegemony. If you are not with the Globalists, then they will know you are against them, and are deserving of torture, economic exclusion, and death. If you are not seen as groveling, you will be considered mentally ill; and euthanized for the good of their society.