I swear that if anyone but the god-on-earth were in the White House, the press would be screaming about the jobs issue.
Source link: http://blog.mises.org/10596/the-good-unemployment-news-today/
The “Good” Unemployment News Today
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And the minimum wage hike went into effect in July as well. Unemployment among teenagers went up 1.7% from July to August. 5 times the rate of adults males or females. It’s currently at an astronomical 25.5%.
Given the divide-and-conquer nature of the press, who cares what they do? It is all destructionism. Engaging in criticism of them is to give them the credence that they actually serve “the people.”
Just as with Krugman, these agent provocateurs are to best ignored, lest you feed their cult of personality.
Green shoots.
Green shoots, and leaves.
Green shoots, misses, pulls out a knife, and stabs the economy through the heart.
Sure things are tough right now, but at least we have all the new structural changes.
At least only the healthy banks are around to bring us boldly forward. It would have been very disapointing to see the too-big-to-fail banks actually consolidate and become larger.
I expect another positive report out soon showing the pay for the average worker is rising. Laying off the lowest paid workers is proving to be a fantastic way of doing this.
With the average pay rising this way, and the amount of taxes paid falling, we should see a huge uptick in consumption.
There was good news on another front too: the Taliban are spending up to $500 million to fight NATO forces. The US is spending $100 billion for a year’s worth of war in Afghanistan. That means we are only spending $200 for every $1 the ‘enemy’ is spending. That is much better than the $800 to $1 we were spending in Iraq until we figured out we could pay the ‘enemy’ to stop shooting at us.
It took several years to figure that out. It will be interesting to see if it takes more time, or less time for the military to re-figure that out. My guess is less time, because Petreaus said the other day that Al Qaida was not actually in Afghanistan, and someone is liable to explain to him what that means. At the same time, there are very helpful English-speaking Afghans not onlypointing out that Al Qaida is no longer there, but that it doesn’t actually have a standing army for all our tanks to shoot at, and suggests we might want to rethink ways to fight them. Some may see that as a self-serving statement over concern for his family, but I think he was being genuinely helpful.
Undoing Socialism
Friday, September 4, 2009
“Good” Unemployment News Is Just Another False Report.
And the good news is that less than 100 American soldiers were killed today (there should be zero because these are unconstitutional and immoral wars). Which means that less than 10,000 innocent people in the occupied territories were killed today (but way too many, which begs the question: “Who will be responsible for these war crimes?).
And listen to what the propagandists are saying: “The recession is over!” Not only are they stupid to even pretend that they believe what they are saying but they must think we are stupid enough to believe them.
Really and truly, unemployment is far greater and more disruptive than the liars and schemers report.
But at least it shrunk less than they expected, that means the stimulus is working…. right? anyone?
If I construct a poor economic model (Keynesian), then take actions that don’t have a positive effect (giving out billions of printed dollars) and the economy doesn’t do as poorly as my flawed model projected, isn’t that a reason for rejoicing?
You guys are such killjoys….
Green shoots are like those dandelions I’ve been eating. lol
Jeffrey Tucker is correct about the press. I remember the 1982 recession when Reagan was pilloried for very high unemployment. You’ll recall the GOP lost seats in Congress over it, that year, as well.
I read yesterday that a record 35 million Americans are now on food stamps – about 11.5% of the 305 million in the country. It seems like a long and deep depression, to me. Perhaps one to rival 1722-1782.
When did they adjust how they determined the unemployment numbers. Not exactly sure but they quit counting people without a job after so long. Wasn’t that in the 70′s? So relatively speaking our unemployment is much higher than it appears compared to the past.
Eric:
Check here:
http://www.bls.gov/news.release/empsit.t12.htm
The number closest to what was used back in the depression is U6. Note that all these numbers are samples, not actual numbers. There are implicit assumptions about people going back to work that are not valid in a recession. This is how 550,000 new unemployment claims for 4 weeks can translate to a 637,000 monthly figure – they assume that a large percentage of people who have run out of unemployment benefits have gone back to work. They also do not include recent graduates who have not found work.
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