Manipulation: The Phony Job Recovery

[Palumboism]

08/11/2016 Ron Paul

Last Friday saw the release of a bombshell jobs report, with headlines exclaiming that the US economy added over 250,000 jobs in July, far in excess of any forecasts. The reality was far more grim. Those “jobs” weren't actually created by businesses – they were created by the statisticians who compiled the numbers, through the process of “seasonal adjustment.” That's a bit of statistical magic that the government likes to pull out of its hat when the real data isn't very flattering. It's done with GDP, it's done with job numbers, and similar manipulation is done with government inflation figures to keep them lower than actual price increases. In reality there are a million fewer people with jobs this month than last month, but the magic of seasonal adjustment turns that into a gain of 255,000.

Delving further into the jobs report, we see that many of the jobs that were supposedly created were jobs in government and health care. Government jobs, of course, are paid for by siphoning money away from taxpayers. And health care jobs are increasingly created solely because of the ever-growing mandates of Obamacare. Other major sources of job growth were temp jobs and leisure & hospitality (i.e. waiters and bartenders). These aren't long-lasting jobs that will contribute to economic growth, they are mostly just jobs that cater to the tastes of the well-to-do who continue to benefit from the Federal Reserve's easy monetary policy.

https://mises.org/blog/manipulation-phony-job-recovery

Does anyone believe the unemployment statistics manufactured by the government?

[bigkid]

Something strange is going on for sure.  All 3 stock market indexes are at record highs.  The government says unemployment is less then 5% and yet, the fed refuses to raise rates, gold continues to move higher and bonds have flown.  WTF is going on.

[Tapeworm]

You fatten your stock before you kill, right?

We're about due for that decannual decennial sweeping of chips from the table.

[El Diablo Blanco]

Billionaires fucking the system.  As soon as you find out what the scam was it'll be too late to get in.

[timfogarty]

In reality there are a million fewer people with jobs this month than last month, but the magic of seasonal adjustment turns that into a gain of 255,000.

Seasonal adjustments have always been a normal part of keeping track of the economy.  Otherwise events that happen every year would make it difficult to seen the underlying trends.  Things like college and high school students looking for jobs in the summer, hiring extra people for Christmas shopping, harvest season beginning and ending.

But the long term trend is we don't need workers any more.  Computers, robots, 3-d printing, general increases in productivity.  In the not too distance future, 10% of the population can provide everything needed by the entire world.  Only two ways to deal with that: abject poverty for the 90%, which tends to lead to revolution; or guaranteed income for all.

[Core]

Something strange is going on for sure.  All 3 stock market indexes are at record highs.  The government says unemployment is less then 5% and yet, the fed refuses to raise rates, gold continues to move higher and bonds have flown.  WTF is going on.

The crash is coming and the signs are being hidden by the election intentionally. The more they try to appease the public the more you have to worry about what's going on.

[Core]

The crash is coming and the signs are being hidden by the election intentionally. The more they try to appease the public the more you have to worry about what's going on.

 I urge those of you who give a shit, read at least the first half of Edward Bernay's 'Propaganda'. It's vital to understanding what is happening and why. Comprehension is key to unravelling the lies we're fed and this man wrote the literal book on the mechanism of public opinion and how we as a group, think.

The happenings of right now are far far larger than simple Left vs Right. Look at the films being released in theaters this summer in particular. The stories on the news. Look at the markets. And then look at the fact that they are telling us all is well in the world and that America is recovering. It isn't. The market is going to crash again within a year I would say, at least 50% correction. I also would not be surprised if some other unfortunate event(s) occur as well. More than all that though, look at what the wealthy are doing- they are selling, and they are working; they are acquiring currency, as much as they can to cushion the blow that is coming.

As you would when reading the bible, read between the lines of what is shown to you and you will be able to decode at least in part the reality of the situation. Consider the possibility of something larger and more horrible than the scope of what you think you know- just because it isn't visible does not mean it is not there. The intelligent among you will know what I mean by this.

[Parker]

Seasonal adjustments have always been a normal part of keeping track of the economy.  Otherwise events that happen every year would make it difficult to seen the underlying trends.  Things like college and high school students looking for jobs in the summer, hiring extra people for Christmas shopping, harvest season beginning and ending.

But the long term trend is we don't need workers any more.  Computers, robots, 3-d printing, general increases in productivity.  In the not too distance future, 10% of the population can provide everything needed by the entire world.  Only two ways to deal with that: abject poverty for the 90%, which tends to lead to revolution; or guaranteed income for all.

And how does one accomplish this and not create an entitled underclass, and also not taking away a person's right to want to do better?

[Mr Anabolic]

Every single stat that comes out of the government is BULLSHIT.  It's been that way for the last several years.  The real unemployment rate is around 25%, not 5% -lol

The hard truth is that the US is in a depression.  It's being covered up and papered over.  Today we have social welfare programs and EBT cards to hide all of it.  If we didn't have those things, there will be bread lines just like in the 30's. 

The stock market is totally rigged, run by computer algorithms, it has nothing to do with the economy.  The Fed reserve owns almost all the bad debt now.  Everything is rigged, phony, fake, manipulated and corrupt.  They cannot prop it up forever though.  The coming crash will make 1929 look like a Sunday picnic.

[timfogarty]

And how does one accomplish this and not create an entitled underclass, and also not taking away a person's right to want to do better?

just like today, anyone can apply for a job.  It is just getting harder and harder to land one.  What happens when you have 10 times more people than jobs?

Self driving cars are just around the corner. Once they get here, no more taxi drivers, bus drivers, delivery truck drivers, long haul truck drivers, Uber or Lyft drivers.  No more traffic or parking cops.  No more valet or parking attendants.  No more street light or road sign manufacturers. What are all those people going to do? Same type of automation is happening in most every field.  Even fast food restaurants are being automated.

what happens when you have 10 times more people than jobs?  Abject poverty for most, or guaranteed income.  The only other option would be laws against automation.

[Parker]

just like today, anyone can apply for a job.  It is just getting harder and harder to land one.  What happens when you have 10 times more people than jobs?

Self driving cars are just around the corner. Once they get here, no more taxi drivers, bus drivers, delivery truck drivers, long haul truck drivers, Uber or Lyft drivers.  No more traffic or parking cops.  No more valet or parking attendants.  No more street light or road sign manufacturers. What are all those people going to do? Same type of automation is happening in most every field.  Even fast food restaurants are being automated.

what happens when you have 10 times more people than jobs?  Abject poverty for most, or guaranteed income.  The only other option would be laws against automation.

then a new industry must be developed. With more people out of jobs, that leads to idle time, which can lead to more addiction and crime, so therefore more services for that. Social workers, counselors, therapists, psychologists, pyschiatrists, attorneys, etc. Or manufacturing comes back to the states due to people willing to work for a certain pay. And maybe more will seek unskilled labor.

Automated cars are not just around the corner. With the recent Tesla incidents, here and in China, it's highlighting the difficulties of the tech element and human element. Humans have to willing change to adapt to the tech and not expect it to be infallible , and the tech has to account for the human driver or otherwise. This is harder than it seems

[epic_alien]

you sold enough magazines to buy that dream car parker?

[Parker]

you sold enough magazines to buy that dream car parker?

Have you visited your pal Groink in jail for an impromptu pose down?
BTW, somethings I do agree with you on, but you have to go into passive aggressive primadonna mode. It's not a good look.

[Wiggs]

Total scam!