The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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The Mystery Of The Shemitah

The Employment Rate In The United States Is Lower Than It Was During The Last Recession

Did you know that a smaller percentage of Americans are working today than when the last recession supposedly ended?  But you won't hear about this on the mainstream news.  Instead, the mainstream media obsesses over the highly politicized and highly manipulated "unemployment rate".  The media is buzzing about how "163,000 new jobs" were added in July but the unemployment rate went up to "8.254%".  Sadly, those numbers are quite misleading.  According to the Bureau of Labor Statistics, in June 142,415,000 people had jobs in the United States. In July, that number declined to 142,220,000. That means that 195,000 fewer Americans were working in July than in June. But somehow that works out to "163,000 new jobs" in July.  I am not exactly sure how they get that math to add up.  Perhaps someone out there can explain it to me.  Personally, I find that the "employment rate" gives a much clearer picture of what is actually going on in the economy.  The employment to population ratio is a measure of the percentage of working age Americans that actually have jobs.  When it goes up that is good.  When it goes down, that is bad.  In July, the employment to population ratio dropped from 58.6 percent to 58.4 percent.  Overall, the percentage of working age Americans that have jobs has now been under 59 percent for 35 months in a row.

The following is a chart of the employment to population ratio in the United States over the past 10 years....

The gray shaded bar in the chart represents the last recession as defined by the Federal Reserve.  As you can see, the percentage of working age Americans with a job dropped sharply from nearly 63 percent at the start of 2008 to a little above 59 percent when the recession ended.

But the "employment rate" kept on dropping even further.

It finally bottomed out at 58.2 percent in December of 2009.

Since that time, it has stayed very steady.  It has not fallen below 58 percent and it has not risen back above 59 percent.

This is very odd, because after ever other recession since World War II this number has always bounced back strongly.

But this has not happened this time.

In essence, it is starting to look like 4 percent of the working age population of the United States has been removed from the workforce permanently.

The good news in all of this is that things have at least not been getting any worse over the last couple of years.  Even though things have been bad, at least we have had a period of relative stability.

The bad news is that the employment rate has not rebounded despite unprecedented borrowing and spending by the federal government and despite reckless money printing by the Federal Reserve.

Considering how desperately the federal government and the Federal Reserve have been trying to stimulate the economy, I truly did expect to see the employment rate bounce back at least a little bit by now.

Unfortunately it has not and now the U.S. economy is rapidly heading for another recession.

But Barack Obama is going to prance around over the next few days and talk about how wonderful it is that the economy created "163,000 new jobs" in July.

What he isn't going to talk about are the millions of Americans that have been unemployed for so long that they don't even "count" in the official unemployment numbers anymore.

But those people actually exist and they are really hurting.  Many of them are starting to lose their unemployment benefits and they really do not know what they are going to do.  The following is from a recent USA Today article....

Since abruptly losing her $312 weekly unemployment check in June, Laurie Cullinan has depleted her savings, sought food from the Salvation Army and lit candles to save electricity.

If she can't find a job this month, the Royal Oak, Mich., resident worries she'll be evicted from her apartment, an unthinkable prospect for the 52-year-old, who enjoyed a solidly middle-class lifestyle until she lost her office-manager job two years ago.

"What am I going to do if I'm homeless?" says Cullinan, who collected unemployment for 1½ years. "My mind won't let me comprehend that."

Could you imagine having to face that?

What would you do if you were about to be tossed out on to the street?

When you add up all of the working age Americans without a job in the United States today, it comes to more than 100 million.

Some people have accused me of lying about that figure, but it is actually true.

There are more than 100 million working age Americans that are not employed right now.

And even if you do have a job that does not mean that you are doing well.  As I wrote about yesterday, only 24.6 percent of all jobs in the United States today are good jobs.

The cost of living continues to rise much faster than wages are.  Many families are having a really hard time just paying for the basics.  The inflated standard of living that we have all enjoyed for so long is starting to disappear.

An increasing number of young people are living with their parents well past the age of 18 because there are not enough good jobs and it is just so hard to make it in this economy.  If you can believe it, 24 percent of all Americans in the 20 to 34 year old age bracket are living at home with their parents at this point.

But we will be seeing a lot more of this as the economy gets even worse.  "Multi-generational households" will become very common, and that is not necessarily a bad thing.  Perhaps this will give some families a chance to do some bonding.

Meanwhile, many of our once great cities continue to rot and decay at a staggering pace.  Today, I saw one report that discussed how the city of Detroit has become a dumping ground for dead bodies.

How sad is that?

Detroit was once the envy of the world and now it is a place where murder victims are dumped.

These are all indications of just how far we have fallen.

But things are going to get a lot worse, so we should actually be thankful for the period of relative stability that we are enjoying right now.

The long-term economic collapse that we are experiencing right now will soon accelerate.  Eventually even the highly manipulated official "unemployment rate" will soar well up into the double digits.

When it does, the anger and frustration that is boiling under the surface in this country is going to explode.

Let us hope for the best, but let us also prepare for the worst.

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  • Orange Jean

    Good report Micheal, and you are absolutely right on this one. I’ve been wondering also… just how many new college graduates we just got (somewhere between May-June).

    I assume you know those new graduates (unless they were working while in school) are also not counted as part of the labor force, and neither are service members (even after they leave the military). Neither are mothers who chose to stay home with kids who are trying to get back into jobs, etc. etc.

  • Orange Jean

    gaaa… M. sorry I misspelt your name I think (spelling never was my strong point) ~Jean

  • anne

    I read an article today on Zero Hedge that talked about how many additional people went on disability and it about was the same as these so called ‘new jobs’ that were created. It also talked about how many new people got added to the food stamp program. They made a good point that the illegals can now get on that program, but still, we have all these people in America getting disability, food stamps, early retirement, etc. it is getting scary. It is something like a 3rd of the country is giving their money to the other 2/3 in social programs. It is not sustainable.

    • Rodster

      “It is something like a 3rd of the country is giving their money to the other 2/3 in social programs. It is not sustainable.”

      According to Gary2, it is sustainable and in fact the economy would thrive.

      I’d say lets abolish the private sector and just have the gunmint give out jobs. Problem solved ! :P

      • Gary2

        rod–the top 1% have more wealth and income than the bottom 98%. By that measure they should be paying 98% of the taxes which they currently do not even come close to paying. I guess that means you agree with me. welcome to the sanity club.

        • Witness the End

          Here’s the problem. The 2011 GDP was $15 trillion. Our debt is pushing $16 trillion. The reality is that no country has ever survived a higher debt to GDP ratio. Not likely we will either. Welcome to the reality club.

        • GaryToo

          by your own logic you should give awat 98% of your own wealth too. doesnt compute? never mind just keep licking the candystore window.

    • Snow White

      What would I do if I was about to be tossed onto the street? First of all, If I can’t pay my mortgage, my family is not leaving until someone makes us leave. The banksters have no problem with tossing us out during a blizzard, so I will use any legal means to thwart their effort. Next, I will move into one of the many empty houses available, again until somebody kicks me out (I could literally move next door to the house that’s been empty for 2 1/2 years).

    • Snow White

      It’s worse than you think. Just short of 50% of federal income tax filers had 0 or negative tax liability (they got a refund of more than the amount they had paid during the year). In June, more people got on SSDI than found jobs.

      • Gary2

        that’s because my dear rose red they did not make enough money in this republican funnel the wealth to the top world to owe any taxes.

        • GaryToo

          how can this be a republican world you have a democrat fed govt. Yes gary your messiah is in charge of this, your democrat president is doing it. dont blame anyone else.

  • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

    “But Barack Obama is going to prance around over the next few days and talk about how wonderful it is that the economy created ’163,000 new jobs’ in July. What he isn’t going to talk about are the millions of Americans that have been unemployed for so long that they don’t even ‘count’ in the official unemployment numbers anymore.”

    You wouldn’t expect him to tell the truth, would you? He’s a politician, don’t you know…

    http://olgreyghost.blogspot.com/2009/08/three-common-phrases-people-should.html

    • CinnamonGirl

      they created 63,000 more jobs than expected, but the unemployment rate went from 8.2 to 8.3
      all they wanted was the stock mkt. to soar above 13,000.
      in a week or 2 they’ll revise the numbers anyway.

    • sharonsj

      I bet you think Mitt Romney is going to create a bunch of jobs as president, don’t you? Too bad those jobs won’t be in the U.S.

      I bet you think Mitt Romney knows how to run a business and so he could run the government. Except that Bain Capital wasn’t interested in the workers or the products, only how much money they could squeeze out of a business for their own profit. 22% of the companies they acquired were forced into bankruptcy after Bain looted their savings, their equity, and their pension funds. Anybody who votes for a vulture capitalist, thinking they care about creating jobs, is deluded.

      P.S. I don’t like Obama either, but the Republicans are effing liars.

      • Rodster

        And yet Bill Clinton praised both Mitt Romney and his work at Bain Capitol. ;)

        “I don’t think that we ought to get into the position where we say ‘This is bad work. This is good work,’” Clinton said. “The man who has been governor and had a sterling business career crosses the qualification threshold.”

        http://www.politico.com/politico44/2012/05/clinton-romneys-business-record-sterling-124980.html

        • Gary2

          guess his not paying taxes in the last 10 years is no big deal. if mittens wants to prove harry Ried wrong then release the returns. What is he hiding?? Is his team trying to file amended returns and sanitize his non payment of taxes? How could anyone be so foolish to vote for mittens???

          You have to be pretty fing stupid to vote for mittens.

      • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

        “I bet you think Mitt Romney is going to create a bunch of jobs as president, don’t you?”

        You would lose the bet…

        http://olgreyghost.blogspot.com/2011/01/important-political-announcement.html

        http://olgreyghost.blogspot.com/2009/06/how-about-king.html

        “I bet you think Mitt Romney knows how to run a business and so he could run the government.”

        Darn, you lost that bet, too. You’re going to owe me quite a lot before this over. Besides, Romney’s as much as a politician as any of the rest of them…

        http://olgreyghost.blogspot.com/2012/08/the-new-neoconservative-talking-points.html

      • tj

        The free market is a unforgiving teacher. Businesses should be in business to maximize their profits, shareholder value, and market share. Employees are a means to that end. The nice thing about the free market is that, left to its own devices, inefficiencies are continually rooted out of the system and products become less expensive (when monetary devaluation is removed from the equation). This means that companies that are no longer competitive either need to be reinvented, or dissolved. Employment agreements in the USA are generally agreements between both parties (employee and employer), when collective bargaining agreements are not thrown into the mix, with the understanding that if either party wants to dissolve the agreement, they have that right. If Mitt Romney didn’t know how to run Bain Capital, then they would have gone out of business. Fortunately for Bain, Mr. Romney knew how to spot value where others didn’t, and he invested the company time and money appropriately more times than not. Personally, I’d prefer Ron Paul, but I’ll take my chances on a presidential candidate who understand how to run a business and has been successful at it over the current status quo any day of the week.

        • Gay Veteran

          great, using your “logic” we will soon be earning the same wages as people in China

          neo-feudalism

          • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

            As methods of communication and transportation improved on the transnational and transcontinental level, then all commodities, such as labor, must now compete on an international market and, yes, that can drive the wages of some people down while the wages of others can be driven up. To try to maintain an artificial price floor for a commodity is to strive against the most basic laws of economics, which are as immutable as the law of gravity and can have as disastrous results if man tries to defy them.

            I didn’t think you were “conservative” either…

  • McKinley Morganfield

    This is one of your best posts that I’ve read this year. I agree with your assessment 100%. Thanks for your efforts.

    • Gay Veteran

      “To try to maintain an artificial price floor for a commodity is to strive against the most basic laws of economics, which are as immutable as the law of gravity and can have as disastrous results if man tries to defy them.”

      eyeroll, you’ll be a perfect serf for the neo-aristocrats

  • imnotoldjustolder

    Michael,

    Yeah, I still don’t get it. The unemployment rate still went up on this report and the stock market made gains anyway….. What??? Why aren’t people talking about this??? I keep telling my (elderly) dad… don’t put anything else in the stock market; don’t put all your eggs in one basket… buy some silver… buy a few extra things at the grocery store. Even he seems to be getting it. But, for the most part — people seem totally oblivious.

  • bobinsherwood

    We are ALL in a hole and the only way out is to ALL make monetary sacrifices. The owners need to accept less profit and the CEOs and upper management need to accept lower benefits but that will still not even be close to enough. We ALL need to be willing to accept lower wages and benefits if we hope to help lift everyone out of poverty and provide FULL employment. The State and Federal governments need to do their part as well through drastic downsizing because the government ALWAYS pays to much for the same work that can be done by the private sector. We also need to wake up to the fact that there can be no FREE healthcare or retirement. If we demand it today then there will simply be nothing left for tomorrow. The last thing we need is a Nationwide-Corporate-Personal commitment to do whatever it takes to pay off the State and Federal debt. If we do not pay off this debt, we are eventually screwed.

    • Me

      Since when has that ever happened? Ever?

      Liberals will just go and say “YOU GUYS need to pay for the poor! Oh… what about us guys? Heh… no see… we’re… the good guys we don’t pay anything…”

      Conservatives will just say “It’s their own fault. To the dog food factory with them”

      Notice what’s missing in these two approaches?

      EVERYONE SACRIFICING FOR THE GREATER GOOD.

      Not. Gonna. Happen. Never has. Never will. Get ready for social unrest. That’s how humans solve these things.

  • Justin Case

    A good post for those who are not in tune to what is really going on. This is a good blog to make one aware of things the media will not tell you and most people will deny.

  • Nickelthrower

    Michael,

    I know you beat the doom drum here at The Economic Collapse but it is long established that you are preaching to the choir. From what I can gather, few of your readers expect things to get better any time soon so why keep telling them? Furthermore, I doubt that any of your readers trust the MSM to provide them with accurate information. For example, the first place I went to this morning for accurate information was Mish’s global Economics Trend Analysis http://globaleconomicanalysis.blogspot.com/ I suspect that you are a reader of Mish’s as well.

    Perhaps it is time to move towards the discussion of some direct action. Just to be clear, I am not advocating violence or even civil disobedience. Frankly, I personally believe it will all collapse should we just refuse to participate in it anymore. Of course, others may wish to suggest that we get in the game by Short Selling major corporations and then boycotting their services. We could pick corporations the same way Anonymous picks its targets.

    These guys mess with us all the time, isn’t it time we return the favor? After all, the 1% is powerless without us and if we put our heads together then we CAN figure out a way to get our $$$ back and save this nation.

    • Michael

      I think that there will be opportunities to make money in the markets even in the midst of all this chaos, but it won’t be easy.

      My focus is on trying to get people to get prepared on a family and a community level so that they can endure the storm that is coming.

      Michael

  • BFH

    The hubris and lying by the politicians is sickening. We are so terribly screwed yet we can’t seem to find a way to get the masses motivated and aware. Once again they will vote scumbags right back into office. Once again they will put their heads in the sand and turn deaf ears and blind eyes to the facts. No one knows for sure when enough will be enough and the house of cards falls but, I can’t imagine it going on like this much longer. The 52 year old lady who has no idea what she will do is in line a with a growing number on people who are simply lost with no ideas. Sooner or later that line will reach epidemic proportions and then the anger and despair will foment into riots and chaos.
    Only then will we see what most feel is coming. A full blown collapse of the system. The more unemployed we have, the less people spend the more exponential the cycle of diminishing returns becomes. The problem is as good as Michael is at reporting these truths the more obvious it is becoming that there are no answers.
    The jobs are NOT coming back and without them there will be no prosperity, no hope and no chance of a recovery.

    • Me

      What nobody’s saying is that you all know how this WILL work out.

      Here’s how it will work out: more and more people will fall into poverty and then die. And people will all come up with excuses to disown them, even if they are family members.

      Everyone’s hoping it’s not them. And no one is willing to drop below say a 1960 standard of living. Ever under any circumstances.

      This gets reflected in the voting patterns, as bums with no address and dead people don’t vote.

      You KNOW. How this is going to work out.

  • Steven M

    Michael
    Unfortunately, the average american is more concerned about what Brad Pitt and Angelina Jolie will do next. Sad but true. Personally, I haven’t had a television in three years. Using a computer at work to write this. You can’t even engage 99% of the population in a conversation about what is going on with employment or our economy etc. It is truly amazing to me the level of igonrance about such things in our country. All that aside, an economic collapse has been happening for some time, as you have pointed out. Would be interesting to see an article that suggests what to do when the bottom drops out. I lost my job in 2009 and have been working at a convience store on a part time basis. Income went from 65K in 2009 to 17K in 2011. I will have to say, the Lord has provided for me. Praise Him. When it happens for you, where will you turn? Thought about a Charlie Daniels tune this morning. “Know what’s wrong with the world today? People have gone and put their Bibles away they’re livin by the law of the jungle not the law of the land” How true. By the way, even though I qualify for public assistance, I haven’t applied for it. Thank you for your site, I read it on a regular basis. Interesting Articles

    • Michael

      Steven:

      Good comment, and I am glad you are enjoying the site. :)

  • Gary2

    It would seem to me that the first step in solving the unemployment issue is to honestly measure it.

  • http://endzone2.weebly.com Craig

    Like Pat said are there so many people now dependent on the federal government that it will be impossible to ever elect another republican for president again? Will the 2 new parties be the ultra leftists and the moderates?

    • Gary2

      if we could ever be so lucky to never have a conservative president ever. Its a good thought but there are too many stupid low information dolts who vote against their own self interest and keep voting tea publicans into office. maybe they are hoping these tea publicans will give them new teeth so they will not be tea billies.

      • GaryToo

        and exactly how is it going for you with a democratic preident for the past 5 yrs?

  • Nexus789

    Shadow stats shows how the figures have been ‘adjusted’ over time as have the inflation figures. The level of real unemployment is much higher.

    http://www.shadowstats.com/

  • mondobeyondo

    163,000 new jobs were added in July, and the unemployment rate rose from 8.2% to 8.3%.

    On any other logical planet, like Mars for example, the unemployment rate would go DOWN as new jobs were added. But this is the United States of America, aka The Twilight Zone. Not much makes sense in this loony land of ours.

    There simply aren’t enough jobs for everyone. And it looks like a permanent situation. If you’re lucky, you’ll land a high paying job which will help immensely in paying down that $80,000 student loan debt. The minute you get that text message saying “You’re hired!!” – you will kneel and kiss the ground. Then you will kneel and kiss your boss’s…. umm, let’s not go too far here!

    The less fortunate ones get hired at McDonald’s. Your reward will be that “Fry Guy of the Year” plaque hanging in the manager’s office. Yes, that’s your prime accomplishment in life. Ugh.

    So when is that new rover landing on Mars? Sunday evening? Too bad I couldn’t be a stowaway and hitch a ride on that thing…

    • Michael

      Keep hanging in there Mondo.

      My wife and I are praying for you.

      Michael

    • uncurable wound

      Hey Mondo this one is for you.
      TWO THINGS
      I do not come to bow I come to conquer!-Bob Marley

      By Tom Petty

      Well I won’t back down, no I won’t back down
      You could stand me up at the gates of hell
      But I won’t back down

      Gonna stand my ground, won’t be turned around
      And I’ll keep this world from draggin’ me down
      Gonna stand my ground and I won’t back down

      Chorus
      Hey baby, there ain’t no easy way out
      Hey I will stand my ground
      And I won’t back down

      Well I know what’s right, I got just one life
      In a world that keeps on pushin’ me around
      But I’ll stand my ground and I won’t back down

      Hey baby there ain’t no easy way out
      Hey I will stand my ground
      And I won’t back down

      Hope that helps brother,I dont speak Mondo very well,but I thought I would give it a shot.
      We will also keep you in prayer!

      • Gary2

        I like his song “breakdown” as his best song. I saw him in concert and I shouted him to play breakdown and he looked at me and played it. I was literally only a few feet from tom petty. That was back in the late 1980′s

        • uncurable wound

          Gary2,I am jealous,I would love to see Petty.I heard he was in europe last yr.Im hoping he will tour here in the U.S. soon!

    • Alasha

      “the whole world is lying in the power of the wicked one” …. 1 john 5:19. on the bright side Mondo – at least you did not set yourself on fire because you dont have the lousy $2.00 a day you need to feed your family like our brethen in Egypt.

    • Alasha

      1 john 5:19. on the bright side Mondo – at least you did not set yourself on fire because you dont have the lousy $2.00 a day you need to feed your family like our brethen in Egypt.

  • SMASH THE CONTROL MACHINE

    TIME TO GO TO CLASS!!POLITICAL SCIENCE 101

    FASCISM: A political system wherein political power is held by a consortium of corporate interests and their chosen government representatives, acting in concert to further their mutual self-interest. AKA the final stage of capitalism.

    VAMPIRE CAPITALISM: A form of Fascism wherein Banksters suck the lifeblood out of all productive economic sectors leaving behind only dry husks blowing in the wind.

    DEMOCRACY: A political system wherein political power is held by and wielded for the benefit of the majority of the citizenry. AKA a theoretical concept that precedes centralization of propaganda and mass communication.

    CONSPIRACY THEORY: A wildly improbable explanation of events fabricated by the Government to cover its own malfeasance and repeated by the mass media until it becomes accepted as fact.

    FREE MARKET: A state that exists in virtual reality but disappears instantly when the first market transaction occurs.

    RULE OF LAW: The rule that states that laws apply only to those who haven’t bothered to purchase Justice.

    ELECTORAL PROCESS: The system whereby candidates spout delusionary promises and winners are selected by Diebold computers programmed to produce the desired result.

    EMPIRE: A political/economic system that maintains military bases on nations outside its national territory for the purpose of extracting wealth from the subject states for the benefit of the Empire.

    ENERGY RESERVE: A resource located on foreign territory that can be obtained by clandestine regime change or direct military action.

    INTELLECTUAL: Someone who engages in endless debate about what the world would be like if only there were no such thing as class stratification, monopoly of force, mass communication, propaganda, war, and human evil.

    ECONOMIST: Someone who believes that actions in the economic system can best be described by complex mathematical equations as long as all the underlying assumptions have never existed in any known universe.

    LIBERAL: Someone who wishes everyone would have a nice day, as long as they can make junior partner in their law firm by defending Monsanto’s patents on the entire world’s gene pool.

    CONSERVATIVE: Someone who believes that the only proper role of Government is to initiate nuclear warfare and thus bring on the Rapture.

    REVOLUTIONARY: Someone who downloads music on the Internet without paying for it.

    FACEBOOK: A system wherein potential Enemies of the State (AKA all US citizens) provide personal information to enable Homeland Security to assess their threat level and identify Friends who need to be placed on surveillance lists.

    HOMELAND SECURITY: The operative arm of Facebook, charged with elimination of all Enemies of the State placed on the Predator Kill List approved by the President.

    (Ps. If there is anyone I have failed to insult, please add them to the list)

    • uncurable wound

      Micah 3:11
      Her leaders judge for a bribe,

      her priests teach for a price,

      and her prophets tell fortunes for money.

  • M Charles

    I have a sneaky feeling that all of this is going to come to a head within the next 3 months……….

    Worldwide, things are simmering and just about to come to a full boil…..

    I think people are just about fed up……

    If we make it past the elections and Obama loses I also fear what damage he will do the country as a lame duck……

  • Joan Bowles

    So right on target. And, more in line with what I am seeing and eperiencing around me. My husband has lost his job first time ever due to State budget cuts. Then, a good friend lost her job, due to same. I don’t hear many people getting new jobs, and looking around I see for the first time on my street ( a very nice middle-class neighborhood), houses for sale for long periods of time, and more than ever. My disposable income continues to erode. Prices are going up faster than I can keep up. I many have to return to work full time at age 67. And,, I have skills, but I will be taking a young persons job, which there aren’t enough of. Good article. You are spot on!

  • pete

    Yes Mr. Snyder….I can assist you how to solve the math problem(s) which you said didn’t work out. I am real good at solving arithmetic problems and have been in the engineering for a long time and also understand accounting principles.

    First, you don’t add and subtract and produce a sum or result. That’s the “old math”.

    What you do is just write in the desired number in the blank that is desired…..and anybody that don’t like it can get stuffed. That’s the new math!

    See? Simple.

    • Michael

      LOL

      That made me smile. :)

      Michael

  • Trish

    How about being creative and looking at the available opportunities out there? After applying for over 300 jobs I started thinking outside of the “I need to find a Job” box. How about food storage as a financial investment and earning money with it too? My cousin is consultant for a food storage company. She is earning extra money and gets a lots of free and 1/2 price stuff. Read more info at http://www.srcareers.com I am signing up too as soon as my kids are off to school.

  • Bob Marshall

    The government places too many restrictions and regulations on too many businesses in America. Too much out sourcing of jobs and the only jobs i can see being created are government jobs.In short, too much government interference.

  • TX4Life

    Does anyone know where the 163,000 jobs created are? Temporary summer jobs for teens created at military installations and other federal agencies were counted in the job creation numbers during previous years. Technically, I suppose that would be correct to count them but those are NOT jobs that are going to sustain households and benefit the economy for more than a few months.

  • erheault

    It takes a long time to build a economy and aperently it takes a long time to totally destroy one but we are on the down hill of our economy how long it takes to hit the bottom is the only question remaining

  • Antonio Gonzalez

    The lie machine working hard.

  • Nolan

    Good clarification of what’s really happening, Michael.

    You’re building quite a reach with this site. Probably more than you realize. I know a couple people in real life that read this, and your articles show up in the top under Google news for “new recession” on different sites.

    Also, as someone who works in a small business (a pawn shop) in a small town, it’s becoming more and more obvious everyday that things are slowing down. Everyone wants loans, no one is buying. That wasn’t even like that back in 2009. And no one can tell me crime is going down. Wall Street is just one thing. And they’re not doing too good either. There’s something dark on the horizon, bro.

    • Michael

      Nolan:

      You are right – I am constantly surprised by how wide these articles are distributed.

      I think people are looking for the truth about the economy and that is one reason why this site has struck such a nerve.

      Michael

  • Bill

    Michael,

    Please consider an article on this:

    http://www.youtube.com/watch?feature=player_embedded&v=uXt9HT50X1c#!

    Bill

  • ALICE

    I once wrote, that no matter how terrifying the financial reports are, the stock market always rises. This blog is very similar, no matter how good the news, these comments are always the worse of the worse..The end of the world is right around the corner. Are you all depressed? Take a chill pill…

  • i’vegivenup

    Michael:

    Thanks for pounding these facts over and over about jobs and unemployment in this country.

    There is plenty of blame to go around as to why we are in such a terrible state in this country. These problems didn’t just begin when Obama took office. They began decades ago. When corporations and the big banks (led by the Federal Reserve) became the “rulers” of this country are when things started going downhill. Thomas Jefferson warned of this…

    “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

    Abraham Lincoln also viewed banks and corporations negatively:

    “I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money-power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed.”

    I see no escape from the demise we face because we have allowed this cancer to penetrate the very fabric that made this country great. Stage four cancer at that….

    • Michael

      Yes, I agree. There problems have been developing for a very long time no matter which political party has been in power.

      Michael

  • It’s true

    I ended up homeless for a while out in Los Angeles a couple years back. It hurt… alot! Actually, it was the most terrible thing (mentally) I’ve endured so far, and I’m about the most flexible american you’ll ever meet. But it was also the best thing that has ever happened to me. This happened when I was living in Lala land in Lala land lol didn’t even know there was a recession going on! Well I’m awake now. I know where we’re going, been there done that, put simply, it’s gonna suck… a lot… but a lot of good will come out of it too. We’ll never move back to where we were, but many people will finally face reality and wake up! It’s that or die… so start planning people! Be smart, be safe, be realistic and for goodness’ sake stop watching so much tv and movies! I lived in Hollywood… it’s all fake, I promise, even the “reality” shows :) P.S. I always had heard that the government would help you out if you were in need, but back then I tried and it turned out I didn’t make enough money to get on any of those financial assistance programs! What a blessing that was!

  • Chad Newton

    Wow! It is so refreshing to have found your website and the articles are to the point with facts and not these long drawn out mumbo jumbo stuff that at the end of the article you are more confused than when you started it. Thanks so much!
    Something I ran across here about ten months ago was the Tare’s in the Wheat Field! You may have heard the Parable in the Bible or maybe not! Anyway, I started looking at interviews with politicians on YouTube. What I discovered is that most are Tares! You can tell a Tare by the blinking eyes (40-60 times a minute (humans blink 8-10 times,)) you can see slits in their eyes (snake eyes or lizard eyes (roaming up and all directions) (use a magnifying glass and pause the interview by using your space bar when viewing YouTube Videos,)) they do the snake or lizard lick with there tongues, some can be seen shapeshifting. Heck just watch the news at night and they all do it. When I discovered this all I literally jumped out of my chair. Really I did! Scared the wits out of me! Well, it drove me to want to investigate it further! Turns out just about anyone on the TV and World leaders are Tares in the Wheat Field YESHUA (Jesus for those whom have not heard His Hebrew name) speaks about in the Bible! I have hundreds of videos that I have seen of these Tares. So when I hear all the news of today from them I don’t believe a word. They are of Satan’s world and are using us sheeple as slaves. The saddest thing is that most people don’t see it or never will see that Tares do exist; live amongst us and rule us! Tares fight amongst each other for power and drag us sheeple into unwarranted wars, want to strip us of YHWH (God in Heavens Hebrew name) and His Freedoms. So Sad! Blessing to all Humans! Chad

  • markthetruth

    Michael….

    I’ve posted before, if you look at the amount of money coming from Federal Grants to create jobs lost in the states, it seems to be the only way any new jobs can be counted. And i will bet most of the money goes to waste. Example…….

    ETA News Release: [07/26/2012]
    Contact Name: Jason Kuruvilla or Mary Brandenberger
    Phone Number: (202) 693-6587 or x4651
    Release Number: 12-1525-NAT
    US Labor Department announces nearly $260 million in grants to provide job training and related services to unemployed, low-income seniors

    just take a look……
    http://www.dol.gov/opa/media/press/eta/main.htm

    There is no meaningful growth in the world anymore !!!!! We can not get anymore out of the earth then it was designed for or can produce.

    Natural resources are shrinking as the population grows.

    What we are calling growth now is an illusion…

    1. The ability to get around the world faster and faster shrinking the world.

    2. The ability to keep humans alive longer , but in a lot of cases to ages where they are in need of care and can not do any normal activities.

    and in most cases if they have family members they don’t have the time to take care of them or don’t want to. So they are put in nursing homes.

    3. People have so much stuff now they we now have to have Storage Centers.

    4. Because of technology, the TV and Internet and now the social media everyone wants to become a Hollywood reality humans who produce nothing but the stupid activities everyday and we pay to watch(duh)

    5. Colleges are all about sports and entertainment.

    6. Sports are becoming a aid to putting children around the world into training camps in and hopes they can come to the us and make money.

    7. Sports are just entertainment and nonproductive even though we watch them.

    8. TV should be used for education.

    9. Tech to make everything easier and more convenient so that we are becoming lazy
    and less active therefore we are becoming obese country.

    10. We all are becoming jealous and greedy.

    In the end when there is a shortage of our necessities, food,water,and shelter and we will turn into animals and _fight,_kill and _steal to survive!!!!!!!!!!!

    the end.

  • Louise in MO

    These statistics just get worse all the time. It has become the source of daily anxiety, at least for me.

    Thanks, Michael, for all you do to keep we the people aware of what is really happening.

  • Barn cat

    According to shadowstats.com, the real unemployment rate is about 22%.

    Even the government’s less accurate measurement of unemployment, U-6, is at 15%.

  • Another Richard

    In the 1930′s the Nation had NO Food Stamp Program, hence there were Bread lines in most of the major cities in plain view for the public to see. In the 1930′s there were NO 99 week Gubment Unemployment Checks given out to those who had lost their jobs, hence there were shanties and Carboard Hovels in the public parks in plain view for all to see. In the 1930′s there was NO Social Security Check from the Gubment to those too old to work a job any longer, hence the Bread and Soup lines were longer and the Cardboard Hovels more cramped by added inhabitants. Todays Depression has been made easier for the Gubment Liars to Conceal the much greater magnitude of the Depression today and the far more grievous Depression that will soon be upon us all by the end of 2012 and deepening into 2013, 2014, and 2015. Make All the preparations today that you can, because the worst is yet to come. He that hath ears to hear, let him hear.

    • Gary2

      He that hath ears to hear, let him hear.

      What would magog say???

  • Janet

    Excellent article, Michael. Thank you. And sad. Very sad.

    Everyone needs to read ‘The Amateur’ by Edward Klein. I was shocked to read some, actually most, of things I read in that book.

    There has to be a change in November

    • Michael

      Janet:

      Good suggestion. That book is actually rated 4.3 out of 5 stars on Amazon.com

      Also I have added this book to my little bookstore. You can find it right here.

      Michael

    • dianec

      I just finished the book. It should not be a shock to anyone, but it sure is the truth!!

  • doctor blue

    Well I may NOT count on any unemployment rolls but I can still VOTE and I am voting for Ron Paul.

  • K

    Excellent article. But of course this is only the beginning. Only the first wave of the baby boomers have retired so far. The majority are yet to come. Also, as jobs continue to be hard to find, disability retirements will continue to rise. Let us face it. By your late fifties to early sixties, most of us have some sort of medical problem. The only reason people did not file for it in the past, was regular retirement was not too far away. Things will continue to accelerate, and the crash will be all the sooner. If you live in a large city, and have not made plans to get out. You better hurry.

  • a cruel accountant

    If you want a job put $7.25 on your resume, but why would you do that when you can live a king or queen on the dole.

  • TheRandyGuy

    The economy is preparing the nation for a dictator. When so many are desperate, all that has to happen is for a man to appear and promise to make everything better if the people would just trust him to make the decisions for everyone (re: Adolph Hitler in 1934). This man will be very personable, likable, and believable, but evil to his core. The Bible promises that such a man will appear. None of this is surprising to those of us who understand prophesy.

  • Washington

    Comparing side by side the words and political stances of Republican and Democratic presidential candidates Mitt Romney and President Barack Obama. Includes topics like universal health care, gun rights, energy, NDAA, the Patriot Act, Iran, sanctions, economic stimulus. bank and auto bailouts, civil rights, TARP, the Federal Reserve, Ben Bernanke, campaign donations, and more.

    http://www.youtube.com/watch?v=ljzKR9mePiY

  • http://economiccollapseblog.com bill

    just imagine how many jobs and how many people can have a good living on the amount of money the obamas have spent on vacation and clothes.
    if you think he cares about anything but himself,your a fool,his monthly vacations cost tax payers millions and millions,mischelle obamas clothing cost more than 5 thousand dollars for each outfit and she doesnt wear the same one twice,and thats our money also.
    mischelle obama takes vacations seperate from barrack(barry)all the time and gets security and the red carpet treatment also at our expense,dont forget the expensive parties.
    when the country is hurting there leaders should lead by example instead of showing off how much money they are stealing from us and doesnt even do his job,dam he cant even read a teleprompter right.

  • http://EconomicCollapse Already Gone

    “Happy days” are gone,no repeats,no reruns it is over and it has now come to the point to face the music but I still wonder how many people will see the light and take steps to prepare? Yes,being hungry sucks and living on the street sucks but using the excuse I will start tomorrow is not going to work,
    and after watching 60 minutes last week and seeing the update about the kids and there unemployed dad living in the gmc truck and her talking about you do what you have to do to survive is incredible and no individual wether by there
    responsibility or not should have to live those conditions. As to being called
    “responsible adults” in todays’s society we have failed miserably and should be hanging our heads in total shame for allowing this to happen. Is there a bright point to all this,maybe,at least the kids and there dsd we are to get help and a place to stay.Even the dog who keeps getting kicked eventually says
    enough is enough and bites back in return.How much more can Americans take before they bite back?

  • http://EconomicCollapse Already Gone

    Sorry for the typo error it should say kids and there dad were able to get help.

  • lee

    Yep, its bad and going to get worse. I keep copies of articles like you have here of people going a year without a job and salaries being cut in half and staff cuts still happening 3 years into a recovery. I’m in a safe city(Houston) and safe career(programming) and i’m still worried i’ll get hit before this collapse is all over.

    BTW, anyone wanting a good reference on the Friday job numbers anaylsis every week, should check mike shedlock; he gives a great wtieup every week: http://globaleconomicanalysis.blogspot.com/

    But dont anyone stop coming here, almost every post here is a homerun.

  • mohican

    we the people should march on washington and demand the resignation of all politicians for they have failed us and must be replaced with real middle class citizens who knoiw what it is like to be an american and whom know of the struggles we face.

  • Sea Bass

    Things never been the same since world trade collapsed in 2008 which was 7 years after all 7 world trade centers collapsed.

  • Annette Jimison

    Michael,
    I became disabled due to a traffic accident, where a young kid crashed into our car and tore it apart. I have worked when I could. I am now glad that I have that disability check. My son lives with me. He and I are both going back to college. With so many people with degrees, it raises the bar for the rest of us to achieve a degree, too. We pay our electric bill and Comcast one year at a time. We maintain a high GPA and are serious about our work. I am depending on Jesus Christ opening doors and fulfilling His Word to me. There are promises in God’s Word and we are relying on them. He is Faithful. Also, since we started tithing to Joel Rosenberg’s Joshua Fund, we have been so blessed! I still believe that no matter what the economy is, God is going to take care of His own!

  • JustanOguy

    Like that’s a surprise for your followers Michael. Hopefully it will help convince the Obama Zombies that support him just because of his likeability and race that happen to stumble across your posts and want to read about what’s actually going on that they won’t find in the lamestream media. (Fat chance.)

    Regardless… another 4 years of Obamazombics and I’m closing shop to do nothing to make the same amount of money that I’m making now working 50+ hours a weak full of headaches.

    Collapsing the system works both ways… The big wild card is how many of us are prepared for the system to collapse and what D.C. can do about it. LOL!

  • davidmpark

    http://www.cia.gov has the US population at 313,847,465 souls. Over 100,000,000 souls of working age unemployed.

    Businesses and the wealthy are forced into subservience by those who claim to be our leaders. They also are doing that UN Agenda 21 (locally here it’s called Vision 2020) to organize us into a strict world economy and ban private property. It’s just too horrific for words what is being done today.

    “Woe unto them that decree unrighteous decrees, and that write grievousness which they have prescribed; To turn aside the needy from judgment, and to take away the right from the poor of my people, that widows may be their prey, and that they may rob the fatherless!” Isaiah 10: 1-2

    “The Lord will enter into judgment with the ancients of his people, and the princes thereof: for ye have eaten up the vineyard; the spoil of the poor is in your houses. What mean ye that ye beat my people to pieces, and grind the faces of the poor? saith the Lord God of hosts.” Isaiah 3:14-15

    “The ancient and honourable, he is the head; and the prophet that teacheth lies, he is the tail. For the leaders of this people cause them to err; and they that are led of them are destroyed.” Isaiah 9:15-16

    The good Lord knew of our day and guides us still. Our leaders have caused us to err and many have bid us to follow them down those paths of ruin; now they must force us to decline as many will not submit; I won’t.

    I’m not standing before my Lord and King with my wife and children nearby and say I punked out ’cause it was socially acceptable and my leadership ordered it.

    May those who are unemployed find their way to prosperity beginning on Monday. May the Lord be near them and guide them. And may they do what is right and honorable; not what someone who craves death and power proscribes to harm them!

  • played out memes

    Everything is always the fault of George W. Bush for all time.

  • Fred Dawes

    Its only the start within 10 years this country will look and be just like the old USSR Of the 1950′s

  • bobcat

    Yep, the job loss seen during ’07 – ’09 is permanent. And the jobs created since then have been low paying jobs like those created during most of the 2000s.

  • James

    Michael I agree with you completely and am glad that you are speaking the truth as to what’s really going on in this twisted world of ours. However, people constantly give me examples of job positions that are open where I live. Additionally just for kicks I looked up hard hit places like Reno and there are some low paying jobs available. I guess my question is how to respond, especially since in the dc area things are still fine. I read your article about only 24 percent of American jobs being quality jobs and plan to show it to them. Additionally I was wondering if you had a specific economist That is most accurate, I like Marc faber and nouriel rouibini are they good?

    • Michael

      James:

      I think Faber and Roubini both bring up good points, but I don’t agree with either of them all the time.

      And yes, there are jobs available even in the hardest of times, but in this economy we have several times more job seekers than jobs available.

      But some people will be convinced that everything is just fine until they lose their own jobs and their own homes.

      Michael

  • El Pollo de Oro

    Michael T. Snyder predicts that “the anger and frustration that is boiling under the surface in this country is going to explode.” I couldn’t agree more. I think Michael is absolutely 100% right about that. And when it does, expect a major bloodbath in The Banana Republic of America (the collapsing empire that used to be Los Estados Unidos).

    The BRA is a country that worships and adores violence even in the best of times. Well, these aren’t exactly the best of times. Economist John Williams (Shadow Statistics) has said that the real unemployment rate in the BRA is 22.4%, and the BRA economy is only going to get worse. So what will happen when unemployment soars to 40%, 50% or higher? All hell will break loose. And the bloodbath will come in two forms: (1) riots that will make the L.A. riots of 1992 look like child’s play, and (2) violent crime will soar to unprecedented levels. American cities, which are already dangerous enough as it is, will start to resemble Ciudad Juarez and Caracas. If you think Baltimore and Detroit are rough now, just wait—the violence will become worse as the poverty and desperation becomes worse.

    I’ve made this point many times before, but it bears repeating: when more and more Americans become increasingly desperate and find themselves living in Third World conditions, they will do the types of desperate things that desperate people in Third World hellholes do in order to survive. They will rob, they will steal, they will mug, they will sell drugs, they will carjack, they will kidnap. They will cut your throat in a minute.

    And don’t think you’ll necessarily be safe in a small town when the you-know-what hits the fan. All those methheads who live in small towns out west are terrible to have as neighbors, especially when their desperation increases.

    “When the money stops flowing down to the man on the street, the blood begins to flow in the streets”—Gerald Celente

    “This country is a boiling cauldron of hatred and anger, and all it is going to take is just the right ‘spark’ to cause all of this hatred and anger to absolutely explode. “—Michael T. Snyder

    “If you’ve studied Rome, you know that wealthy nations do collapse into Third World squalor when they allow their currency to be debased.”—Alex Jones

    “Brace yourself. The American empire is over. And the descent is going to be horrifying.”—Chris Hedges

    Yes, the descent is going to be horrifying. A nightmarish bloodbath awaits The Banana Republic of America, collapsing hellhole of the Third World.

  • Paranoid

    Did my duty to improve the econ today; bought a years supply of target ammo. $540, Oh, for the old days of $.01, 22 and $.08 Lake City 30-06.

  • Mike

    I came across an interesting piece of data on the number of college graduates over the years. It’s worth a look-

    http://www.nsf.gov/statistics/nsf11316/content.cfm?pub_id=4062&id=2

    When compared to the BLS payroll data over the last decade, it shows that there are a lot more college grads than the number of jobs. This is largely due to outsourcing and guest worker visa abuse.

    For example, 2008 (the last year of data) shows that there were 110,000 engineers that received BA, MA, and PhDs. I took the average of the 2002-2008 data and added it to the last 4 years to get a ballpark estimate. But during the last 10 years there were only 82,000 new engineering jobs.

    In all, there were over 6 million science and engineering grads from ’02-’08, but only 3 million new total jobs during that period.

    You can query the BLS data here –

    http://www.bls.gov/webapps/legacy/cesbtab1.htm

    CEOs are clearly lying when they say they cannot find educated Americans. What they really want is cheaper foreign workers. People that don’t have a lot of college loans and don’t demand a first world standard of living. That’s all this is about.

  • William

    There is NO recovery. Statistics from the federal “gubmint” are as phoney as a $3 bill. Go to shadow government stats to learn the truth. This is all part of a plan to totally control and subjugate Americans. The failed and phoney Obummer has no answers. Mutt Romney has no answers. Neither Republicans nor Democrats have any answers. Watch the MORONS who created this nightmare pontificate and prance as the debt ceiling is approached, and the specter of DOD spending cuts nears. All sound and fury meaning NOTHING. This is what Americans wanted……this is what they will get. Be SURE to reelect the IDIOTS in the US Congress who pretend to represent YOU, while, in truth, they represent those who buy and sell them, and a foreign country.

  • Stop The Maddness

    Michael writes;
    “”But somehow that works out to “163,000 new jobs” in July. I am not exactly sure how they get that math to add up. Perhaps someone out there can explain it to me.””

    I am not sure i can explain the math, but i believe the 163,000 jobs are mostly stimulus construction jobs, for road, bridge, infrastructure rebuilding.
    Construction in the tri-state area has reach an all time high.
    Construction workers are visible on every road and bridge in the New York/NJ area.
    It is almost impossible to get around.
    While it is good to see that men have work and therefore be able to support their families, it really doesn’t help the rest of us.

    There is a figure out there that 80% of all construction jobs in New Jersey are only Road and bridge repair jobs. Very little, if any new homes or buildings are being built which is where the real sign of economic growth should be.

    As far as the media touting new jobs that is simply PR “press release stories” in hopes the consumer confidence will return and that they will somehow feel confident enough to start borrowing and shopping again, but we all know that is not going to happen.

    Consumerism is about as outdated as the 1950′s concept was of job security.

  • http://truththeory.com James D. Bowling

    This article and post is dead-on(no pun intended)and when SHT-fan, It will be a nationwide effect. It will be interesting to see how the people react to the crisis who never thought it would affect them. It is scary times and most assuredly catastrophe looms as an ominous presence in our future. The wall street pundits who think there is always a money making opportunity out of other peoples misfortune or circumstances will be in for a rude awakening themselves. After markets crash they will attempt to buy gold or silver, some kind of crisis proof physical object. There will be none. Bartering will be commonplace. You cannot eat, drink, or shoot gold and silver. Valuable items will be self sustaining plots of land with water resources,(rural areas)food, water,livestock,and ammo. I never thought this would happen to our once great nation.Will our military and police forces be turned loose against desparate citizens foraging for a meal. These times are direct result of corporate greed and political corruption at the highest levels. Those of you living in gated communities had better guard them, sell the BMW’s, buy a cow, and dig fresh water well’s. Will the elitists and fat-cats posess survival skills? It will be chaotic, and interesting to say the least.

  • lejohnson

    I was laid off in 2009 and did not find a job so made soem financial changes and my family and I made a decision I would not go back to corporate america. I certainly hope I am not considered unemployed still. There are others like me who made the same decision.

  • Alasha

    “I am not exactly sure how they get that math to add up. Perhaps someone out there can explain it to me. ”

    ummmm, i think they call it fuzzy math…

    lol

  • JustanOguy

    As stated… Collapsing the system works both ways. For those of you prepared and know what’s really going on…

    Then collapse it if you really want to move forward.

  • leonard

    Things won’t be significantly better with Mitt Romney! We are stuck with the status quo.

  • LordRhynn

    Hey don’t worry though. Whatever’s happening in Detroit? Murders and dumped bodies?

    How big a deal can it be? Clearly not as big a US security priority as protecting a country 10K miles away from the horrors described in the paranoid and divisive hallucinations and meanderings of its warmongering prime minister? Right?

    At least, that’s what Mitt Romney said. And furthermore, the 70 million dollars Obama just sent said country for shiny new missiles? Not enough according to Mutt.

    How did this dipshit ever get to #1 challenger status for the POTUS? Dumb enough to forget 60+ years of military occupation when discussing reasons for the GDP difference between the occupiers and the occupied? Dumb enough to start WWIII? You betcha. Probably not going to be around long enough for homelessness to ever become an issue.

    • GaryToo

      yes catchers mitt kissing netan yahoo’s butt was disgraceful.

  • BigCat

    I think the reason the numbers are not adding up is that people are retiring and going on social security at a rate of 10,000 per day. Since they are no longer employed and are not seeking employment, they are not counted as part of the workforce any more. I hope this helps!

  • Aper

    The jobs are NEVER coming back. In fact, we are going to lose more to automation. Just recently JC Penney’s announced that they are getting rid of their cashiers in favor of self check out. This is not a bad thing, it’s a good thing. We’re transitioning to a new economic system. Very few people can see past the concept of “a job.” Like the only reason they were born is to work a job. Those days are going bye bye, and everybody should be thankful. The problem we have now is that the transition is not being controlled to the extent that it could be. Our government knows what’s happening, but they’re not telling the public. My guess is that the business leaders are wanting to keep the ol’ racket going as long as they can.

    • Atilla2

      I agree that this is good in the long run but TONS of older people WILL NOT USE THE CHECKOUT COMPUTERS AND ARE NOT GOING TO PENNYS NOW.
      Personally I use them all the time, they are great.

    • RainbowWorms

      Automation? Haha, no!

      • Aper

        @RainbowWorms Goldman Sachs agrees with me: http://www.zerohedge.com/news/i-not-robot-why-rise-skynet-leads-automatic-unemployment-people

        We think the sticky unemployment we are seeing in the US and in Europe has a lot to do with jobs permanently eliminated by technology. The average duration of unemployment in the US has never been as high as in this downturn, and this follo
        ws the relentless export of jobs to lower-cost countries over the past decade or so, making it particularly painful (and for a period slowing down the penetration of automation). And, ceteris paribus, you could envision a world dominated by a machine-to-machine economy, where most things are done by intelligent technology, leaving only highly skilled people with the lion’s share of the limited jobs. This would lead to further income inequality.

  • Washington
  • Eric Ferguson

    Thanks for bringing us the truth.

    • Michael

      Eric:

      You are welcome.

      And I wanted to let everyone know that I have relaunched one of my old websites and I will be posting regular articles on it from now on. I hope that everyone will check it out….

      http://thetruthwins.com/

      Michael

  • Esta

    In addition to the large drop in the employment rate, I wonder whether the average number of hours worked per employee, the average hourly rate, and average value of any benefits given have also dropped. I’m guessing they have! Michael, do you have any statistics on these other factors?

  • Washington

    Are You Living In A Free Society? Why Not?

    http://www.youtube.com/watch?v=1oKDEVhj5tA&feature=g-all-u

  • Washington

    Published on Aug 9, 2012 Sen. Rand Paul discusses Americans’ continuous loss of liberty through the lens of Ray Bradbury’s dystopian classic “Fahrenheit 451.”

    https://www.youtube.com/watch?v=cZ9jBWjZWvI&feature=player_embedded

  • http://www.Huseyinagahotel.com Cory

    Have you ever considered writing an e-book or guest authoring on other websites?

    I have a blog based on the same topics you discuss
    and would really like to have you share some stories/information.
    I know my subscribers would enjoy your work.
    If you are even remotely interested, feel free to send me an
    e mail.

  • wayne

    The point is this: During the last few Decades, the West, especially Germany, needed a new way to show the whole World the still superior strength of their people after the whole stuff with taking world domination and so on didn’t turn out so well during WW2.
    Their new way of showing strength was basically to let millions of people of “other cultural background” flow into the country, taking thousands of jobs and doing them for a good part in a miserable way. “No problem”, the high-nosed arrogant EU and US leaders thought, “our economy is so strong, we can take them and no problem will ever arise from that.”
    Yeah, sure. For a few decades, that was so.
    Today, Western natives, especially the young and aspiring ones, are spending their lives in the glorious world of Facebook and video-game induced false realities, leaving Real Life to be lived by third world mongrels and other incompetent foes.
    That went all good and well until the latest crisis. It brutally shows the West, i. e. Germany, The US, England and other former industrially leading economies in the world that WE HAVE REACHED OUR LIMITS. We are so to speak the strongman who carries the world on his shoulders, but it’s becoming too heavy, Yes, political leaders around the globe, the Western people are not indefinitely strong. we cannot bear it anymore.
    Solution? We have to get off our high horse, off our idea that everything will just come out fine, looking at the strength of our states. This is pure arrogance. Lift your arses and ACTIVELY partake in life again, especially the young-uns. We must form REALITY again, or it will be shaped for us. By moslems, communists, lefties, aggressive Asians and-so-forth. Not for the Good.

  • http://www.Johnreynolds.cleannation.biz John

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