Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
It's Five Nights at Freddy's Again! - 12th Jan 25
Squid Game Stock Market 2025 - 5th Jan 25
Stock Market Bubble Drivers, Crypto Exit Strategy During Musk Presidency - 27th Dec 24
Gold Stocks’ Remain Exceptionally Weak Even as Stocks Rise - 27th Dec 24
Gold’s Remarkable Year - 27th Dec 24
Stock Market Rip the Face Off the Bears Rally! - 22nd Dec 24
STOP LOSSES - 22nd Dec 24
Fed Tests Gold Price Upleg - 22nd Dec 24
Stock Market Sentiment Speaks: Why Do We Rely On News - 22nd Dec 24
Never Buy an IPO - 22nd Dec 24
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24
Republican vs Democrat Presidents and the Stock Market - 13th Dec 24
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Funniest BLS US Jobs Report Ever!

Economics / Economic Statistics Jun 03, 2016 - 02:50 PM GMT

By: James_Quinn

Economics

Only a captured government drone could put out a report showing only 38,000 new jobs created, with the working age population rising by 205,000, and have the balls to report the unemployment rate plunged from 5.0% to 4.7%, the lowest since August 2007. If you ever needed proof these worthless bureaucrats are nothing more than propaganda peddlers for the establishment, this report is it. The two previous months were revised significantly downward in the fine print of the press release.


It is absolutely mind boggling that these government pond scum hacks can get away with reporting that 484,000 people who WERE unemployed last month are no longer unemployed this month. Life is so ***** good in this country, they all just decided to kick back and leave the labor force. Maybe they all won the Powerball lottery. How many people do you know who can afford to just leave the workforce and live off their vast savings?

In addition, 180,000 more Americans left the workforce, bringing the total to a record 94.7 million Americans not in the labor force. The corporate MSM will roll out the usual “experts” to blather about the retirement of Baby Boomers as the false narrative to deflect blame from Obama and his minions. The absolute absurdity of the data heaped upon the ignorant masses is clearly evident in the data over the last three months. Here is government idiocracy at its finest:

Number of working age Americans added since March – 406,000

Number of employed Americans since March – NEGATIVE 290,000

Number of Americans who have supposedly voluntarily left the workforce – 1,226,000

Unemployment rate – FELL from 5.0% to 4.7%

Talk about perpetrating the BIG LIE. Goebbels and Bernays are smiling up from the fires of hell as their acolytes of propaganda have kicked it into hyper-drive. We only need the other 7.4 million “officially” unemployed Americans to leave the work force and we’ll have 0% unemployment. At the current pace we should be there by election time. I wonder if Cramer, Liesman, or any of the other CNBC mouthpieces for the establishment will point out that not one single full-time job has been added in 2016. There were 6,000 less full-time jobs in May than in January, while there are 572,000 more low paying, no benefits, part-time Obama service jobs. Sounds like a recovery to me.

It gets even better. The birth death excel spreadsheet “adjustment” added 224,000 phantom jobs into the May calculation. The lies – they burn. We know for a fact more businesses are closing than opening since the 2008 financial crisis. This model assumes more openings than closings. IT’S ADJUSTMENT IS DEAD WRONG. In reality, jobs should be subtracted from the total. It added 231,000 phantom jobs in April too. The jobs numbers are much worse than the bad numbers being reported.

When you see lies, misinformation and deceitfulness at this level, you have to ask yourself whether this entire debt supported house of cards is about to fall. The smell of desperation is in the air. The MSM stories about a booming economy are rolled out on a daily basis. Meanwhile, the average family is being crushed by Obamacare, rising rents, rising food costs, and no interest on any savings they might have left.

It also seems awfully suspicious that within seconds of the awful report, the faux journalists immediate reaction was NO FED RATE HIKE in June or July. These pundits of propaganda want the ignorant masses to think a .25% increase in interest rates actually matters to the economy or the average person. We’ve had ZIRP for almost seven years and the economy blows. Rates have been at emergency levels as the establishment has flogged the economic recovery story to death. There has been no recovery for the average person. The recovery has been for Wall Street and the sycophants who suck off their teat.

Obama has been on his self congratulatory tour exclaiming how ***** awesome the economy has been under his reign of error. The Bush presidency was most certainly a fiscal disaster, but Obama’s tenure was even worse. The numbers don’t lie, but Obama does.

Look at that stupendous record of success. Obama should be as proud as punch. Since the unemployment rate is now back to 2007 levels, before the Federal Reserve/Wall Street/Washington DC created financial implosion, let’s take a look at the Obama success story:

  • The workforce has grown by 21 million people, while the number of employed has grown by a whopping 5 million.
  • The labor participation rates has plunged from 66.0% to 62.6%, the lowest since the 1970s.
  • The number of Americans who have left the work force because their lives are so fulfilled is 16 million. I’m sure there is no correlation to food stamps or SSDI enrollment.
  • The Boomer retirement narrative is proven false by the fact that a record percentage of Americans over the age of 65 are working in order to avoid starvation and homelessness.
  • Of the 5 million jobs added since 2007, only 2 million of them were full-time.
  • Obama’s success in destroying the mining industry is borne out in the 207,000 jobs destroyed in the last two years.
  • The percentage of men aged 25 to 54 (prime working years) not working is at an all-time high.
  • Real median household income (using the fake understated CPI) is still 1.3% LOWER today than it was in 2007.
  • Wages continue to stagnate in the 2.3% range, while real inflation for real people in the real world exceeds 5%.

It doesn’t matter how much propaganda the establishment peddles, average families who aren’t beholden to the establishment for their living, know how bad the things have gotten. They have been getting increasingly pissed off. The rising tide of support for Trump and Sanders is a reaction to the lies, misinformation, mismanagement, corruption, and lawlessness of the establishment. The people know they have been screwed. The complex web which makes up the establishment control makes it difficult for the average person to discern who exactly has screwed them, but they know a screw when they feel it.

As this summer progresses and the economy continues to sink, the anger will continue to build. The violence has already begun, as paid thugs are bused in to create havoc at every Trump rally. The establishment fears the unknown. They need to control the agenda. Trump scares them. The economy is clearly in recession for the average family. The stock, bond, and real estate markets are the most overvalued in history. A crash in any or all of these markets would unleash mayhem. The next five months could alter the future course of this country. Stay tuned.

Join me at www.TheBurningPlatform.com to discuss truth and the future of our country.

By James Quinn

quinnadvisors@comcast.net

James Quinn is a senior director of strategic planning for a major university. James has held financial positions with a retailer, homebuilder and university in his 22-year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and is writing these articles because he cares about their future. He earned a BS in accounting from Drexel University and an MBA from Villanova University. He is a certified public accountant and a certified cash manager.

These articles reflect the personal views of James Quinn. They do not necessarily represent the views of his employer, and are not sponsored or endorsed by his employer.

© 2016 Copyright James Quinn - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

James Quinn Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in