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As Ye Sow, So Shall Ye Reap

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So here you have the job picture that the presstitutes, hyping "the jobs gain" don't tell you. The scary part of the September job report is that the usual standby, the category of waitresses and bartenders, which has accounted for a large part of every reported jobs gain since I began reporting the monthly statistics, shows job loss. Seven thousand one hundred waitresses and bartenders lost their jobs in September. If this figure is not a fluke, it is bad news. It signals that fewer Americans can afford to eat and drink out.

The unemployment rate that is reported is the rate that does not count as unemployed discouraged workers who are unable to find jobs and cease to look. This favored rate, the darling of the regime in power, the presstitutes, and Wall Street, also is not adjusted for the category of "involuntary part-time workers," those whose hours have been cut back or because they are unable to find a full-time job. Obamacare, as is widely reported, is causing employers to shift their work forces from full time to part time in order to avoid costs associated with Obamacare. The BLS places the number of involuntary part-time workers at 7,900,000.

The announced 7.2% unemployment rate is a meaningless number. The rate can decline for no other reason than people unable to find jobs drop out of the work force. You are not counted in the work force if you are discouraged about finding a job and no longer look for a job.

The phenomena of discouraged workers shows up in the measure of the labor force participation rate, which has declined in the 21st century. The opportunities for American labor are so restricted that a rising percentage of the working age population have given up looking for jobs.

Yet, the Obama regime, the Wall Street gangsters, and the pressitute media tell us how much better the economic situation is becoming as more small businesses close, as memberships decline in golf clubs, as more university graduates return home to live with their parents, who are drawing down their savings to live, as Fed Chairman Bernanke has made it impossible for them to live on interest payments on their savings.

According to the US census bureau, real median household income in 2012 was $51,017, down 9% from $56,080 in 1999, 13 years ago. In contrast, annual compensation in 2012 for US CEOs broke all records. Two CEOs were paid more than $1 billion, and the worst paid among the top 10 took home $100 million. When the presstitutes speak of economic recovery, they mean recovery for the one percent.

America is in the toilet, and the rest of the world knows it. But the neocons who rule in Washington and their Israeli ally are determined that Washington start yet more wars to create lebensraum for Israel.

Early in the 21st century the liberal Democrat Senator from New York, Chuck Schumer, and I coauthored an article in the New York Times about the adverse effects on the US economy of jobs offshoring. The article caused a sensation. The Brookings Institution in Washington quickly convened a conference which was covered by C-SPAN. C-SPAN rebroadcast the conference several times. During the conference I said that if jobs offshoring continued, the US would be a third world economy in 20 years.

Wall Street quickly shut up Senator Schumer, but I am sticking by my forecast. Indeed, I think we are already there.

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http://www.paulcraigroberts.org/

Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available here. His latest book,  How America Was Lost, has just been released and can be ordered here.

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Yeah and we have AIPAC and the secret rulers behin... by Bill Johnson on Wednesday, Oct 23, 2013 at 12:36:52 PM
All it will take is one tuned-in F├╝rher (leader) ... by Luis Magno on Wednesday, Oct 23, 2013 at 8:10:04 PM
Thank you, Dr. Roberts. I can not find even one re... by Hosea McAdoo on Wednesday, Oct 23, 2013 at 2:02:31 PM
"We are looking at a fascist dictatorship and a fe... by Luis Magno on Wednesday, Oct 23, 2013 at 7:49:38 PM
Solution? Is there one? Sell all your stocks and b... by tincansailor on Wednesday, Oct 23, 2013 at 2:23:47 PM
One of the reasons for eliminating the middle clas... by yunus Luebben on Thursday, Oct 24, 2013 at 11:57:30 PM
"Now seen universally as a lawless warmonger and a... by Robert S. Becker on Wednesday, Oct 23, 2013 at 2:36:01 PM
Robert S. Becker, Thanks for the dose of sanity!... by Luis Magno on Wednesday, Oct 23, 2013 at 8:14:35 PM
Sir, Americans, even well-informed ones like you,... by Susan Lee Schwartz on Wednesday, Oct 23, 2013 at 4:15:28 PM
Yes, of course, you are 100% right. But don't expe... by Luis Magno on Wednesday, Oct 23, 2013 at 8:18:26 PM
 Madam,  It's a ''little'' worse than th... by Ad Du on Thursday, Oct 24, 2013 at 10:51:04 AM
Another great article Paul.so sad that we... by Carol Jackson on Wednesday, Oct 23, 2013 at 6:33:35 PM
Another great article for the lemmings!... by Luis Magno on Wednesday, Oct 23, 2013 at 8:19:49 PM
Yes, the article has the potential to awaken ... by Michael Sacco on Thursday, Oct 24, 2013 at 11:07:50 PM
Left hand on Lincoln's bible, right hand raised, h... by Lance Ciepiela on Wednesday, Oct 23, 2013 at 8:32:20 PM
Had Romney won in 2012 we would ALL already be liv... by Luis Magno on Wednesday, Oct 23, 2013 at 8:56:05 PM
Had Rommey won, perhaps the liberal left would hav... by Truth Will Prevail on Thursday, Oct 24, 2013 at 9:18:00 AM
I should add that, of course I did not support,or ... by Truth Will Prevail on Thursday, Oct 24, 2013 at 10:00:30 AM
An old tactic tried and true used by debunkers and... by Lance Ciepiela on Thursday, Oct 24, 2013 at 11:46:47 AM