We just heard that the economy is going in the right direction and Pinocchio’s nose grew another 12 inches. Thanks to journalists like Michael Synder, we know the truth and the truth is the economy is getting worse month by month. Here are the facts, just the facts.
The only reason that the official unemployment rate has been declining over the past couple of years is that the federal government has been pretending that millions upon millions of unemployed Americans no longer want a job and have “left the labor force”. As Zero Hedge recently demonstrated, if the labor force participation rate returned to the long-term average of 65.8 percent, the official unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.
The percentage of Americans that are actually working is much lower than it used to be. In November 2000, 64.3 percent of all working age Americans had a job. When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job. Today, only 58.6 percent of all working age Americans have a job. The “inactivity rate” for men in their prime working years (25 to 54) has just hit a brand new all-time record high.
In November 2007, there were 121.9 million full-time workers in the United States. Today, there are only 116.9 million full-time workers in the United States. Only about 47 percent of all adults in America have a full-time job at this point. The ratio of wages to corporate profits in the United States just hit a brand new all-time low.
When Barack Obama took office, the average duration of unemployment in this country was 19.8 weeks. Today, it is 37.2 weeks. According to the New York Times, long-term unemployment in America is up by 213 percent since 2007.
According to the U.S. Census Bureau, median household income in the United States has fallen for five years in a row. The rate of homeownership in the United States has fallen for eight years in a row. The gap between the rich and the poor in the United States is at an all-time record high.
If that is not enough to understand how bad the economy is, then consider these facts. Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low. Back in the year 2000, our trade deficit with China was 83 billion dollars. In 2008, our trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars. That was the largest trade deficit that one nation has had with another nation in world history.
Fortunately, it appears that most Americans are not buying into the propaganda. According to a new CNN survey, the percentage of Americans that believe that the economy is getting worse far exceeds the percentage of Americans that believe that the economy is improving. However, we as a people are not doing anything to insure our congress and administration are reacting to correct this problem. We have to realize that WE MUST begin to hold these scoundrels responsible for their lack of action. At this juncture that includes most every member of congress, certainly the office of the President, and absolutely the FED decisions that have been made.
The American economy is being dismantled brick by brick and WE remain silent. The middle class is being eliminated and not only to we remain silent, we allow trade agreements like the Trans-Pacific Partnership (TPP) Free Trade Agreement (FTA) to be conducted IN SECRECY! This compact may significantly limit public protections. The issues being negotiated extend to include “patent and copyright, land use, food and product standards, natural resources, professional licensing, government procurement, financial practices, healthcare, energy, telecommunications, and other service sector regulations.” The secret process would establish policies binding on future U.S. Congresses and state legislatures on numerous non-trade subjects.
When you begin to marry first the lack of action by the congress to do ANYTHING effective concerning jobs with the outright disastrous monetary policies of the Fed and the SECRET free trade actions of the administration it is hard to deny those whacky conspiracy nuts who are saying the American economy is under attack!
We think every responsible adult should at a minimum pick up the phone and call their Representative or Senator and put them on notice to “GET TO WORK” on the economy or they will join the unemployed that they don’t seem to give a damn about. So let’s make a New Year’s Resolution that by the second week in January, EVERY voting adult has called their representatives. It is just one phone call! Here is where to find their numbers. http://www.congressmerge.com/onlinedb/ We can do this. We must do this. EVERYONE!