<div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div class="gmail_quote"><div dir="ltr"><div><br></div><div><br></div><div>Kind regards,</div><div><br></div><div>Christopher</div><div><br></div><div>------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</div><div><b>Yet Another Fabricated Jobs Report —
Paul Craig Roberts
<a href="http://www.paulcraigroberts.org" target="_blank">http://www.paulcraigroberts.org</a>
January 8, 2016|</b></div><div><b><br></b></div><div><b> Another Fabricated Jobs Report
Paul Craig Roberts
According to Friday’s (January 8) payroll jobs numbers, almost
300,000 new jobs were created in December. </b></div><div><b><br></b></div><div><b>Additionally, the
previous two months were revised upward by 50,000 jobs.</b></div><div><b><br></b></div><div><b> Apparently, the equity market did not believe the report, with the
averages moving down today.</b></div><div><b> As I have pointed out almost monthly for what I think could be
approaching two decades, the alleged job growth always takes</b></div><div><b> place in nontradable domestic services, that is, in areas that do
not produce exports and have no competition from imports.</b></div><div><b><br></b></div><div><b>This
is the job profile of a Third World country.
Twelve years ago I predicted at a major Washington, D.C.,</b></div><div><b>conference that was nationally televised that in 20 years the
United States would have a Third World economy </b></div><div><b>if jobs
offshoring, which benefits only corporate executives and
shareholders, continued.
Jobs offshoring has continued,</b></div><div><b>and judging by the payroll jobs
reports from the US government, the US is already a Third World
economy.</b></div><div><b>The presstitute financial media—and what they are is a bunch of
whores—always reports the alleged jobs increase</b></div><div><b>as if it is a
great thing, testimony to the continuing strength of the
American economy, and so forth. Only a handful</b></div><div><b>of us look at
the data and reveal its meaning. Once again I will strip away the
Matrix and show you the reality.</b></div><div><b><br></b></div><div><b> Allegedly, the US economy has been in recovery since, if
memory serves, June 2009. If so, it is an unusual recovery.</b></div><div><b> Normally, the rising job opportunities associated with economic
recoveries bring entrants into the labor force, but</b></div><div><b> the US labor
force participation rate has been declining. In December, 2015,
there are 1,185,000 fewer Americans </b></div><div><b>in the labor force than in
December 2014; yet, the working age population is higher today
than a year ago. </b></div><div><b>The reported unemployment rate does not include “discouraged
workers,” that is, workers who unable to</b></div><div><b>find jobs have ceased
looking for work. The reported unemployment rate of 5% only
counts non-discouraged</b></div><div><b>workers who are still expecting to find
a job. The actual unemployment rate, that is, the rate that
includes </b></div><div><b>Americans who have given up hope of finding
employment, is 23%. Currently, there are 94,691,000 Americans </b></div><div><b>of working age who are not in the labor force. In other words, the
US Gross Domestic Product (GDP) is deprived </b></div><div><b>of a large
percentage of its labor input.
Now, we will pay attention, unlike the financial presstitute media,</b></div><div><b>to the age groups who benefited, according to the BLS, from the
292,000 December new jobs. </b></div><div><b><br></b></div><div><b>About half of the alleged new
jobs—142,000—went to the 55 years old and over age group.</b></div><div><b>This age group consists primarily of retirees who have found it
necessary to supplement their</b></div><div><b>retirement income and of those
near retirement who are working in order to compensate for </b></div><div><b>the
lack of interest on their savings due to the Federal Reserve’s
zero interest rate policy. </b></div><div><b><br></b></div><div><b>These are part-time, lowly paid jobs
without benefits.
Americans of prime working age,</b></div><div><b> 25 years old to 54 year old,
only received 16,000 or 5% of the new jobs.
Those aged 46 to</b></div><div><b> 54 lost 165,000 jobs. In other words, middle
aged people are losing their jobs before they</b></div><div><b> can provide for
their retirement.
There are 527,000 more Americans working multiple jobs </b></div><div><b>in
December 2015 than in December 2014.
Now, as we have done so often for many years, </b></div><div><b>let’s look at the
make believe jobs that the BLS claims. Almost all of them are in
lowly paid </b></div><div><b>domestic services, such as waitresses, bartenders,
couriers and messengers, employment</b></div><div><b> services, social services
and health care (primarily ambulatory health care services). </b></div><div><b>The conclusion is that if we believe the payroll jobs report, the
United States is now an</b></div><div><b> economy that only creates Third World
jobs in lowly paid domestic services.
And yet this</b></div><div><b> non-economy on the verge of collapse is said by
the idiots in Washington to be a super-power. </b></div><div><b>What a total joke! </b></div><div><b><br></b></div><div><b><br></b></div><div><b>Dr. Paul Craig Roberts was Assistant Secretary of the Treasury
for Economic </b></div><div><b>Policy and associate editor of the Wall Street
Journal. He was columnist for Business Week, </b></div><div><b>Scripps Howard
News Service, and Creators Syndicate. He has had many
university appointments.</b></div><div><b>His internet columns have attracted a
worldwide following. Roberts' latest books are The Failure of</b></div><div><b> Laissez Faire Capitalism.</b><br></div></div>
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</div><br><br clear="all"><div><br></div>-- <br><div class="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div>Check out the Commons Transition Plan here at: <a href="http://commonstransition.org" target="_blank">http://commonstransition.org</a> </div><div><br></div>P2P Foundation: <a href="http://p2pfoundation.net" target="_blank">http://p2pfoundation.net</a> - <a href="http://blog.p2pfoundation.net" target="_blank">http://blog.p2pfoundation.net</a> <br><br><a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank"></a>Updates: <a href="http://twitter.com/mbauwens" target="_blank">http://twitter.com/mbauwens</a>; <a href="http://www.facebook.com/mbauwens" target="_blank">http://www.facebook.com/mbauwens</a><br><br>#82 on the (En)Rich list: <a href="http://enrichlist.org/the-complete-list/" target="_blank">http://enrichlist.org/the-complete-list/</a> <br></div></div></div></div>
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