Great prize! Great cause!
This is the most hyped economic growth since the Annunanki began using humans to mine gold on Earth 50,000 years ago. The historic Obama Boom created a net of ZERO jobs in the month of August! Once again this bad data was called unexpected by the media. For the last couple of weeks, they had resurrected the Obama Boom theme since not much bad data was coming out. One such report was telling workers to quit their jobs because the job market was great! Reality is a different matter all together.
The economy added no jobs in July. Unemployment stayed constant at 9.1 percent only because so many adults are too discouraged to look for work.
Retail, manufacturing, information services, and construction all lost jobs indicating the fragile recovery is faltering. Finance posted small gains.
Government employment fell by 17,000, and private sector jobs added 17,000.
[…]
Government subsidized private employment in social services and health care gained 36,000 jobs; otherwise, the private sector contracted.
Read the rest: Economy Stalls, No Jobs Added in August
The only reason the unemployment rate stayed at 9.1% is because people stopped looking for work or no longer collect unemployment. This is keeping the real unemployment artificially low. The truth is the Obama Boom is a media lie to cover up the Obama Depression.
On a related note, Dr. Doom Nouriel Roubini says our economic situation today is worse than in 2008!
The world’s developed economies are trapped at the “stall speed” of low growth and need to have greater fiscal stimulus and less austerity to kick-start growth, leading economist Nouriel Roubini told CNBC Friday.
Speaking at the Ambrosetti Forum on the shores of Lake Como, near Milan, Roubini said in an interview: “We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious.”
I don’t agree with his call for more stimulus, since debt is what caused this recession. But Tax and regulatory reform can stimulate the economy and capture more revenue. One thing he’s right about, we are staring at an economic abyss.
Great prize! Great cause!
