Yesterday the June jobs report was issued and as usual folks in the White House are proclaiming greatness. There are even some comparing President Obama to President Reagan and his economic record — whoa Nellie! I will not belabor the point here, but there’s something, which simply does not make sense.
As reported by Fox Business News, “Traders in the U.S. temporarily put worries over Greece and a potential deal with its creditors on the back burner as they turned focus to the June non-farm payrolls report which showed the economy added 223,000 jobs for the month, lower than the 230,000 jobs forecast.
Meanwhile, the unemployment rate fell to 5.3 percent from 5.5 percent in May, while the labor force participation rate also saw a drop to 62.6 percent from 62.9 percent.
Let’s assess this a bit, don’t worry it won’t take too long.
It is impossible to tout a lower unemployment rate when the workforce participation rate is at an all time low since 1977 — that is 38 years folks, Jimmy Carter years. What should alarm folks if you’re not just a Kool-aid drinking liberal progressive, is that these numbers are reflective of more Americans being dropped from the workforce. That is the only logical explanation.
As the workforce participation rate drops, that means more Americans have become discouraged and are no longer counted. The result is a lowering of the unemployment rate because the base number has dropped. It is yet another example of government hijinks and artificiality of our economy. And if you want to do a comparison to President Reagan, you will find that his pro-growth economic policies had much higher per month job growth at this time in his tenure as president. Also, our economy requires far higher monthly job growth or else we will continue to see our debt outpace our GDP — and that is a serious concern. Wages are not exactly booming, in fact many consider them stagnant — and with the massive printing of money, well, y’all know what that does to monetary value.
Lastly, this statement is very disconcerting, “it’s very indicative that the market will expect a move by the Fed certainly this year.” If we are sitting back waiting for Janet Yellin to make a determination regarding our economy, then we truly do not have a free market/free enterprise opportunity economy.
Ladies and gents, we are operating in an artificial economy based on monetary manipulations from a group which operates outside of the scrutiny of the legislative branch, Congress. The best means to achieve economic growth and stability is not by the whims of one Janet Yellin. I just hate to remind you of the fifth plank in Karl Marx’s communist manifesto: “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
Our economy is made strong by the principles and resulting policies that afford individual investment, innovation, and ingenuity — that is the indomitable character of the American entrepreneurial spirit. That is what must be unleashed — not the preferences of Janet Yellin. There is a very hard awakening coming, it will not be pretty, and I’m not being a conspiracy theorist. It’s just common sense.
We are living in an Orwellian world of economic manipulation. Americans are being forced out of the workforce and Big Brother shouts over the megaphone that the unemployment rate is lower.
Perhaps Jonathan Gruber was on to something — we are just that stupid. Well, some are anyway…