Paul Craig Roberts Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was […]
by Tyler Durden One of the biggest drivers of the so-called recovery (in addition to the Fed’s $4.5 trillion balance sheet levitating te S&P500 and the offshore bank accounts of 1% of the US population) has been the US consumer: that tireless spending horse who through thick, thin, recession and depression is expected to take […]
It is hard to believe that one out of every three Americans is financially supporting the other two-thirds. The unemployment rate appears much lower than it is because of the odd math behind the labor force. The latest unemployment rate of 5.3 percent sounds great until you realize that last month 640,000 Americans were plopped […]
HSBC chief economist Stephen King is already thinking about the next recession. In a note to clients Wednesday, he warns: “The world economy is like an ocean liner without lifeboats. If another recession hits, it could be a truly titanic struggle for policymakers.” Here’s King (emphasis added): Whereas previous recoveries have enabled monetary and fiscal […]
By Dan Calabrese If there’s been one consistent thing about the Obama economic record, it’s that it’s wildly inconsistent. There have been many quarters of tepid growth, but also plenty of combinations in which we’ll see a huge drop followed by a huge jump, or vice versa. And if expectations for tomorrow’s announcement of First […]
By Paul Craig Roberts The Economy Has Not Recovered And Is Again On Its Way Down The first quarter GDP will be negative unless the figure is again manipulated and faked. I am looking at two charts. One is the Federal Reserve Bank of Atlanta’s forecast. During the past 30 days, the Atlanta Fed’s forecast […]
Paul Craig Roberts According to the payroll jobs report today (March 6) the economy created 295,000 new jobs in February, dropping the rate of unemployment to 5.5%. However, the BLS also reported that the labor force participation rate fell and the number of people not in the labor force rose by 354,000. In other words, […]
Young America’s Foundation has released its Youth Misery Index (YMI) numbers for 2014, and it’s a record high of 106.5. The Youth Misery Index (YMI) is calculated by adding youth unemployment, student loan debt, and national debt (per capita) numbers. Young people are experiencing hardships like never before under the Obama administration, and this generation […]
by Ned Resnikoff Homelessness in Washington, D.C. has increased by 12.9 percent in the past year. In Memphis, Tennessee, nearly half the demand for emergency food assistance in 2013 has gone unmet. The number of requests for urgent food aid in Philadelphia rose by 20 percent. And in Plano, Texas, homeless shelters with limited capacity were forced […]
By Ali Meyer The labor force participation rate remained at a 36-year low of 62.8 percent in November, according to the Bureau of Labor Statistics. The participation rate, which is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one, […]
