Economic Stories of Relevance in Today's World -- November 24, 2013

Fake Employment Numbers – And 5 More Massive Economic Lies The Government Is Telling You - The Economic Collapse Blog - Michael Snyder - November 19th, 2013 - According to a whistleblower that has recently come forward, Census employees have been faking and manipulating U.S. employment numbers for years.  In fact, it is being alleged that this manipulation was a significant reason for why the official unemployment rate dipped sharply just before the last presidential election.  What you are about to read is incredibly disturbing.  The numbers that the American people depend upon to make important decisions are being faked.  But should we be surprised by this?  After all, Barack Obama has been caught telling dozens of major lies over the past five years.  At this point it is incredible that there are any Americans that still trust anything that comes out of his mouth.  And of course it is not just Obama that has been lying to us.  Corruption and deception are rampant throughout the entire federal government, and this has been the case for years.  Now that some light is being shed on this, hopefully the American people will respond with overwhelming outrage and disgust.                              The whistleblower that I mentioned above has been speaking to John Crudele of the New York Post.  In his new article entitled "Census ‘faked’ 2012 election jobs report", he says that the huge decline in the unemployment rate in September 2012 was "manipulated"...


“This Is Really A Symbol Of What’s Going On In This Whole Country. We’re Losing Middle-Class Jobs” - Zero Hedge - Tyler Durden's - November 21, 2013 - We wish we could say we didn't warn Boeing's machinists about the key trend taking place in the US economy under the Obama "recovery" but unfortunately we did. Three years ago, to be specific, when we wrote: "Charting America's Transformation To A Part-Time Worker Society" and followed it up with "A "Quality Assessment" Of US Jobs Reveals The Ugliest Picture Yet" in which we explained that while the propaganda machine was fixated on numeric, quantitative, job additions every month, what has subversively going on, was the constant deterioration in the quality of jobs - and specifically the declining wages - available to those Americans who had not rotated outside of the labor force permanently (currently at a record 91.5 million). We say "alas" because it once again took several years before our cautions to be felt by the broader population, in this case the Boeing machinist union struggling to extract a wage increase from its employer: Boeing, whose stock keeps hitting new record highs with every passing day.                   The machinists' lament is well-known to virtually everyone who relies on labor instead of capital to exist: pay us more. Bloomberg reports:

“We need to focus on how many jobs there are that give an adult a chance to earn a decent living,” said Gordon Lafer, an associate professor at the University of Oregon’s Labor Education and Research Center in Eugene. “Too much of the discussion has been about the number of jobs, and that’s obviously important, but there’s also a crisis in the quality of jobs.”

That's ironic: when we said it first three years ago, the mainstream media mocked it. Curious how things change when that hope you once believed in becomes a "zero balance" nightmare at the ATM machine, eh?                       Blame it on the Fed, blame it on globalization, blame it on corporations who have a virtually unlimited labor, cheap and global pool to pick from, but the bottom line is US workers have zero leverage.


Not a genuine housing market recovery - Fox News - David Stockman - Neil Cavuto - November 18, 2013 




The Race to the Bottom - The Hickory Hound - April 29, 2010




Rand Paul: Janet Yellen 'Will Be a Disaster for the Economy' - November 24, 2013