Beyond sad: The real unemployment rate was 42.9%, not 5.5%!

David Stockman looks at 5.5% unemployment:
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%!
davidstockmanscontracorner.com/the-warren-buffett-economy-why-its…

The War On The Poor

The war on the poor is a multi-faceted front with lies coming from every government mouthpiece you can find littered everywhere on the internet, in the MSM (Main Stream Media), and even on many so called “Alternative News Sites”, but before I delve into this article, let me explain something very clearly to you.  Money is not what you think it is, it’s a slave collar, and it is the greatest illusion the wealthy use to keep everyone working hard for something they utterly control, it is debt, and the wealthy never intend to pay for those debts, if you don’t believe me just wait till the markets & banks collapse.
galeinnes.blogspot.com/2015/06/the-war-on-poor.html

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27 thoughts on “Beyond sad: The real unemployment rate was 42.9%, not 5.5%!

  1. Yes and we have all our CEO’s that made handsome “profits” to thank. Most people want to work. I worked for GB for over 16 years and at 57 years of age was “outsourced.”
    There is a special place reserved in hell just for American CEOs.

    • Bureaucrats have written rules and regulations, without congressional involvement, and made it more difficult and more expensive to have employees. Highest international corporate tax makes US companies seek to make cost cuts to remain competitive in the INTERNATIONAL market. Don’t blame the CEO. His job and obligation belongs to stockholders and pension funds and other investors in stock. Your elected representative has to obligation to have a good business environment for your employer. Sorry we don’t have a stronger economy for you and your employer.

    • I know unemployment is over 5.5% but why are restaurants so full? They keep building more and more casual ones incl a new Texas R’house! We eat out when they first open for lunch, evening dining is not worth it (noise and crowds). The building of higher end houses keeps on…I have no idea who has all this money to buy them. As for dept stores, spring and summer sales are on now instead of Aug. Civil unrest is sure to happen if this keeps on. America is trashed for sure with a zero future. Best not to raise kids either; glad we didn’t.

      • Depends on where one lives. In my neck of the woods, there are a bunch of empty buildings. One of the local restaurants dropped beer pitcher prices to $6. A 50% decrease. As for civil unrest, I agree. Sooner or later a trigger event will have people in the streets. We are so close to that. The elites in this country flat out are so far removed from regular people they don’t get it. The professional working class is too busy working that they aren’t exposed to it. The media sees to it that the % of people not on the edge never hear and just have no idea.

        • The only choice left for citizens when their government will not represent their interests is violence.
          Our democracy is founded on blood and only more blood will ensure we get to keep our democracy. Violence is the only option left now.

        • Restaurants aren’t full where I live and my town is the home of a major university with 30,000 students. Most of the restaurants are nearly empty even during normal rush times, like Sunday noon. That used to be the busiest time of the entire week; now there are only a handful of restaurants that are busy at that time. The rest are 50% to 75% empty and the rest of the time they are echo chambers; I don’t know how they stay open. Two grocery stores (we used to have 8) closed their doors in the last two years and the buildings are still standing empty. We used to have 6 movie theaters here; now we have only one. Our biggest retailers here have traditionally been KMart (closed), Target (in trouble), JCPenney (in trouble), Sears (closed), and Walmart (reducing their stock). Pretty soon we’ll look like Greece did this weekend.

          • Wow! I’m sorry to hear your story. You didn’t mention what area of the country you hail from. I live in a suburb of Sacramento, California, of course, Sacramento being the state capitol. I have noticed a drop off of many retail establishments (downsizing or closing), but the restaurants always seem crazy full here, at least the ones that are very popular. I guess being close to the capitol has some benefit. My son works for Macaroni Grill and they are not doing so well. He only works a couple of hours a week, which is pretty much not worth driving down there for.

    • Then we have a very foolish nation, as most do.
      “No one ever went broke underestimating the intelligence of the American public” ~ H.L.Mencken

      • They left wing liberal media complex is equally complicit in spreading these lies. I just wonder if after obama leaves office how long the lame stream media will begin to “uncover” these lies.

  2. This far more realistic calculation still fails to take into account underemployment, and drastic paycuts, for those people still working.

  3. 60 percent of the population is 100 percent dependant on the government for their survival. the other 40 percent is dependent on the 60 percent. the bric payment system might possibly go online july 5 well ahead of the previous stated sept 2015 date. the brics don’t want dollars, they want gold or bric currency, if they control 65 to 70 percent of trade, dollars become worthless. china and russia might grant a temporary parachute for the dollars, but it would be on their terms. do you think the elites will uses this period for the common good, or use it to evacuate. america can’t exist at this time without global welfare. this is the result of 1940’s globalization and centralization. pull the pin, everything collaspses. you can’t build a self sufficient civilization overnight, and look how weak huge portions of the population are. they can do very little. no checks, amounts to implosion, the illusions will cease to exist. everyone brags about texas, but does anyone realize they get more poor people welfare than any other state. what happens to that economy, without the poor and middle class, government created wealth

    • Don’t leave out the 21 million State and Federal employees whom would have no work without taxpayer largesse.
      Those same people who, “earn,” triple the median average wage as, “servants.”

  4. Though, the statistics don’t take into account stay at home moms, and hot chicks with sugar daddy’s ….neither is technically employed …

  5. The unemployment rate is what I guessed. That 5.5% that he was trying to feed us was a bunch of BS. All he is is a bunch of BS. Iwant him gone. He is depleting our energy. Thinking the more stress he puts on us that we will bend to his well. Well I for one won’t do it. I’m an American and damn proud of my country and I want to fight even if I’m 67yrs old. I’m fighting for my grandchildren. I will not have this dirtbag destroy their childhood.!!!!

    • 92 million employed, 52 million on social security, 13 million mental ill or incarcerated, 32 million as public employees – about 353 million population.
      Statistics can tell you something.

  6. Let’s do a short primer on the toxic mortgage scam that impoverished the world.
    The Federal Reserve (City of London)…Greenspan, Paulsen, Geithner, Summers, Bernanke, many still employed by Obama, enabled the “risk” to be removed from sub-standard loans by bundling these loans into CDOs (collateralized Debt Obligations), mortgage back securities. These securitzed sub-standard mortgages were then erroneously rated “AAA” by rating agencies like Fitch, S&P, and Moodys.
    These “AAA” securities were then sold to unsuspecting pension funds, government agencies, and investors both in the US and Europe. These “AAA”, “risk free” CDOs, which offered higher margins and brokerage commissions (sales incentives), created an environment gauranteeing predatory lending practices. These CDOs were then “insured” using credit default swaps derivatives, left unregulated by the CFTC. Thus, allowing multiple speculators, even those who participated in their creation, to bet against these very risky “AAA” CDOs; ensuring that both the insuers, like AIG, and investors would be destroyed once this massive ponzi scheme collapsed.
    In fact, it was Larry Summers was who especially instrumental in allowing derivatives to go unregulated due to his intentional interference with CFTC Chairperson Brooksley Born; and her wanting to give testimony in favor of the regulation of OTC derivatives.
    Under duress from the private bankers, their lobbyists, both in Europe and the US, congress allowed US tax payers to pay for the massive losses due to the CDO debacle. Bailing out the private banks, corporations, and even countries. All of which has led to so-called austerity cuts to the social safety net, millions of lost jobs and homes, the destruction of the middle-class and ultimately leading to starvation of the world, chaos and martial law.
    At this moment, there are TRILLIONS of dollars in derivative overhang on the world’s people being secured by US tax payers through the unratified 16th Amendment, through the Federal Reserve (City of London). Note: This analysis does not really include the other types of bank fraud that has occurred: LIBOR or HSBC drug money laundering.
    So, really our discussion should be about why the US and European governments didn’t prosecute the bankers for fraud, as did Iceland; why we haven’t questioned the efficacy of a privately held fractional reserve banking cabal, centered in the City of London (Federal Reserve), that’s using the war on terror to solidify its death-grip upon the world (serial wars against nation-states, false flag terror); instead of having discussions about killing off the poor, the old, the useless eaters.

  7. Barack Obama is a pathological liar, and probably a Muslim. He has and continues to destroy the American economy. He hates America. But he has been aided by people like John Boehnor and Mitch McConnell, who evidently are in it for the money. If we survive until Obama is out of office, and that is a big if. We may have a chance to recover. But not with the democrats and RINO republicans. They are traitors in every since of the word. If we get a responsible republican as president, it needs to be someone that will investigate the corruption of the last 6 1/2 years and go after those responsible. They should get no retirement, they should be punished to the fullest extent of the law. This includes Obama, Holder, Jarrett, Johnson and Koskinen among others.

  8. We have 5 straight years of Private Sector job creation and you guys act like the world is coming to an end. How can you hate America that much to root against the American people’s prosperity.
    The reality you all hate to hear is President Obama has/is doing a great job managing an economy recovering from recession. Every major economic indicator points to the success of this President.
    The really funny thing is the RWers thought the President would just go away like most lame ducks, but not Obama. He is getting everything he wants in his second term.

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