How bad do things have to get before people realize that we are living through a nightmare? Sadly, most Americans still have faith in the system. They are still convinced that our politicians will somehow find a way to turn things around. Most Americans…[don’t realize that] America is literally falling apart all around them. We have been living in the biggest debt bubble in the history of the world, and it is only a matter of time until it bursts. 2008 was just a “hiccup” compared to what is coming. I hope you’re getting prepared to survive the economic horror show that is rapidly approaching. Words: 1310
So writes Michael (http://theeconomiccollapseblog.com) in edited excerpts from his original article* entitled Shocking Numbers That Show The Media Is Lying To You About Unemployment In America.
This article is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Michael goes on to say in further edited excerpts:
The truth is that the government’s own numbers tell us that the percentage of the U.S. labor force that is employed continues to fall and that the U.S. economy is heading into a recession. The Obama administration and the media have been lying to you about unemployment and about the true condition of our economy. After you see the numbers that I have compiled in this article, I think that you will agree with me.
% of Labor Force That is Employed Keeps Falling
Did you know that the percentage of the U.S. labor force that is employed has continually been falling since 2006 according to the Bureau of Labor Statistics? Let’s take a look:
- 2006: 63.1%
- 2007: 63.0
- 2008: 62.2
- 2009: 59.3
- 2010: 58.5
- 2011: 58.4 and
- this past January, only 57.9% of the civilian labor force was employed….
Number of Americans Who Are “Not in the Labor Force” Keeps Rising
The only way that the government has been able to show a declining unemployment rate is by dumping massive numbers of Americans into the “not in the labor force” category. [That number] has absolutely skyrocketed in recent years:
- 2006: 77,387,000
- 2007: 78,743,000
- 2008: 79,501,000
- 2009: 81,659,000
- 2010: 83,941,000
- 2011: 86,001,000 and
- this past January, there were supposedly 89,868,000 Americans that were at least 16 years of age that were not in the labor force.
The number of Americans “not in the labor force” has risen by more than 8 million since President Obama first entered the White House, and that is highly unusual, because the number of Americans “not in the labor force” only increased by 2,518,000 during the entire decade of the 1980s.
Actual Unemplyment Rate is Above 10% Not the Official 7.9%
You sure can get the numbers to look more “favorable” if you pretend that millions upon millions of American workers simply “don’t want a job” any longer. The truth is that if the labor force participation rate was at the same level it was at when President Obama was first elected, the official unemployment rate would be well above 10% – but that wouldn’t do at all, would it? 7.9% sounds so much nicer.[In fact,] if you actually look at the “non-seasonally adjusted” numbers, the number of Americans with a job actually decreased by 1,446,000 between December and January but nowhere in the mainstream media did you hear that…. It is amazing the things that you can find out when you actually take the time to look at the hard numbers instead of just listening to the media spin. [If you have gotten this far you will thoroughly enjoy the insights contained in this article by Karl Denninger which Monty Pelerin intoduces on his site as Jobs Report Is A Train Wreck.]
41% of All Workers Earn $20,000 or Less!
Even if you do have a job does not mean that you are doing okay. If you can believe it, in America today 41% of all workers make $20,000 a year or less. To me, that is a mind blowing statistic. It would be incredibly challenging for anyone to live on $20,000 a year, much less try to support a family.
If you live in Washington D.C. or New York City and you have a “good job” working for the establishment, you may not realize it, but there are tens of millions of American families that are really hurting out there. According to the U.S. Census Bureau, more than 146 million Americans are either “poor” or “low income” at this point, and most of those people actually do have jobs.
For much more on the “working poor” in the United States, please see my previous article entitled “35 Statistics About The Working Poor In America That Will Blow Your Mind“.
If something is not done, the middle class will continue to disappear and poverty in America will continue to explode. In a previous article, I noted that during Obama’s first term, the number of Americans on food stamps increased by an average of about 11,000 per day….
Small Business Owners in Crisis
Small businesses have traditionally been the primary engine of job growth in this country, but right now small business owners all over the nation are facing a tremendous crisis. An astounding 30% are not hiring and fear that they will go out of business within the next 12 months….and yet our politicians just continue to pile on more taxes, more rules and more regulations (A recent Gallup poll found that 61% are “worried about the potential cost of healthcare”).
In a previous article entitled “We Are Witnessing The Death Of Small Business In America“, I detailed how small businesses in America are being systematically wiped out. Small businesses are dying all around us, and the number of new small businesses continues to decline. [Also read: Expectations for Economic Improvement by Small Businesses Have Fallen Dramatically to Lowest Since 1980 Recession! Here’s Why]
According to economist Tim Kane, the following is how the decline in the number of startup jobs per one thousand Americans breaks down by presidential administration:
- Bush Sr.: 11.3 startup jobs per 1,000 Americans
- Clinton: 11.2
- Bush Jr.: 10.8
- Obama: 7.8
All of the above is so simple that even the family pet should be able to figure it out, and yet most Americans seem oblivious to all of this. They just keep gobbling up the mainstream media propaganda and they just continue to go out and wildly spend money. It is almost as if we didn’t learn any lessons from 2008.
2008 Was Just a “Hiccup” Compared to What is Coming
Even while household spending in Europe has moderated, household spending in the United States continues to soar. Just check out the chart in this article. And guess what? The infamous “no money down mortgages” are back. If we wait long enough, perhaps “interest only mortgages” will make a comeback as well.
Unfortunately, I am afraid that time is running out. We have been living in the biggest debt bubble in the history of the world, and it is only a matter of time until it bursts. 2008 was just a “hiccup” compared to what is coming. Our politicians and the Federal Reserve were able to keep the house of cards from completely crashing down back then, but they are not going to be able to avert the economic horror show that is rapidly approaching.
I hope that you are getting prepared. Back in 2008, millions of Americans suddenly lost their jobs, and because many of them did not have any savings, many of them suddenly lost their homes. One of the most important things that you can do to prepare for the coming crisis is to build up an emergency fund. If things suddenly go bad, you don’t want to lose your house and everything that you have always worked for. In addition, anything that you can do to become more self-sufficient and more independent of the system is a good thing, because the system is failing.
The years ahead are going to be much more chaotic than what we are experiencing right now, and when the next crisis strikes you will be very thankful for the time and the energy that you put into preparing.
So what are all of you seeing in your own areas?
- Are businesses shutting down?
- Are people having a hard time finding good jobs?
Please feel free to post a comment with your thoughts below.
Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
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