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According to the BLS, “In September, 2.5 million persons were marginally attached to the labor force.” These people “wanted and were available for work,” but “they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.”
So the BLS’s official unemployment rate simply ignores 2.5 million unemployed Americans. I suppose that is more humane than conscripting them into work brigades or “disappearing” them into FEMA camps, but it’s still dishonest.
Stock prices predictably soared in reaction to the phony good news, providing further evidence that Wall Street has become totally decoupled from the real economy.
For a more accurate rendering of economic conditions in the country, one should look at the statistics showing a dramatic increase in involuntary part-time workers (600,000) and a concentration in low-paid service jobs. Manufacturing also continued its demise, shedding some 16,000 jobs in September.
The United States is rapidly becoming a nation of the underemployed, barely scraping by and desperate for part-time work in order to make their ends meet. This is the face of the “new economy.”
And to make matters worse for the beleaguered American worker, inflation appears to be rearing its ugly head once again. The consumer price index (CPI) increased 0.6 percent in August, thus raising the specter of stagflation (simultaneous high unemployment and price inflation).
The Obama White House is certainly not the first administration to fudge numbers in order to paint a false picture of prosperity. Republican and Democratic administrations have been underreporting the unemployment and inflation rates for decades.
According to John Williams of Shadowstats, the current real unemployment rate is around 22 percent, while real annual inflation is above 10 percent. Those numbers are indicative of an inflationary depression; so it’s understandable that incumbent politicians would favor the BLS’s rosy report over grim reality.
Tens of millions of Americans recently tuned in to watch Barack Obama and Mitt Romney face off in a debate over the state of the US economy.
While the candidates exchanged accusations and talking points, neither mentioned the Federal Reserve, QE3, Uncle Sam’s $220 trillion in unfunded liabilities, the crisis in the eurozone, nor the impending collapse of the U.S. dollar as the world’s reserve currency.
All of those are critical economic issues, and how they are resolved will have an enormous impact on the lives of every American. But they received nary a mention during the hour-and-a-half debate about the economy.
The ugly truth is the system is busted, and voting for Romney or Obama isn’t going to make any difference at all. Neither man has the courage, understanding, or wisdom to implement the radical changes that are necessary to right the ship of state.
Originally posted by Krazysh0t
...We need to really wake up and retake our country from these greedy sobs, dismantle the Fed and start making real positive changes to fix our country. Or we could just sit back and wait for the collapse and hope to rebuild.
Originally posted by Krazysh0t
Yes its true that the past is filled with people rising up and overthrowing their government only to replace it with a worse one. France comes to mind here when they had the French Revolution. Unfortunately I don't have the answers to your questions. I consider myself an intelligent individual, but I also know my limitations. I don't think I could lead an uprising nor doo I think I would be a good candidate to lead once it is finished. However I read news lime I see in the op and it infuriates me that we are letting these guys get away with the things they are doing. We keep buying what they are selling even though we are well aware that they are selling a crappy product. Heck even the common person on the street knows that politcians are notoriously corrupt and pathological liars. Yet instead of doing anything, we accept it and even make jokes about it. I mean in our eyes its ok that the politicians lie to you as long as the lies they tell are things you want to hear. If I went to the doctor's office to get cancer screen and after the results are in and I have cancer, I'd be awful upset with him if he lied to me and said that I was fine because thats what I wanted to hear.
The system needs a huge overhaul. There are plenty of smart and capable people out there who can fix this country. We just need to find them. Take Ron Paul. He was looking like a huge breath of fresh air to what we were getting, but the majority of the country bought into the propoganda that the elite put out and he washed out of the elections. Now I'm not a Paul fanatic, I understand he'd have faults and most likely wouldn't turn the country around overnight. But its a start in the right direction.
Now I'm a realist I know that power is corrupting that being how we got into this mess. But if we can find the right people who have the moral fortitude to resist the temptations of the rich, we can really start trying to fix things. The first thing that needs to be done is to arrest the rich people who got us into this mess and NOT treat them special in the courtroom. Treat them like some common thug and let them see how it feels to be in our position.
If we sit back and do nothing, the system WILL fall apart and I can guarentee that these guys are ready for that to happen. They have the appropriate systems readyy to implement once it happens and they will become more untouchable than ever before.