It’s back, just when you though the media had realized we are living in a 3rd world style stagnant economy they are proclaiming things are good. The US economy added 151,000 jobs in October. This number is just enough to keep up with population growth and is anemic compared to the 250,000-300,000 jobs that was create monthly during America’s economic golden age in the 80’s and 90’s. When Bush was in power, the press bashed him when 150,000 jobs were created monthly during the 2000’s. They claimed it was proof the economy was stagnant and sucked. Yet now, it’s a boom that is unprecedented in human history!
U.S. employment increased more than expected last month as private companies hired workers at the fastest pace since April, a sign the sluggish economy is starting to tick up.
Nonfarm payrolls rose a solid 151,000 in October, the first increase since May, the Labor Department said on Friday. A 159,000-jump in private employment more than offset a 8,000 drop in government payrolls.
[….]
“So it’s still within the realm of a moderate recovery. It’s both better than people had been looking for and it’s another nail in the coffin of a double dip,” said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Mass
Read the rest: Economy Picks Up 151,000 Jobs, Rate Steadies at 9.6%
Happy days are here again! The economy is soaring and wealth is being created again! The reality is this is mediocre job growth and a stagnant economy. The Fed is printing $600 Billion to create inflation based demand. The problem is with stagnant and falling wages, this will erode American growth. This devaluation of the dollar is already creating anger overseas, especially with our debt owner China. It should create anger here because it will devalue our standard of living!
Don’t worry, the economy is booming, nothing to see here!
Tags: Dollar Devaluation, Federal Reserve, Obama Economic Boom
