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Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts ^ | 07/07/2014 | Craig Roberts

Posted on 07/08/2014 12:00:26 PM PDT by GilGil

Since 1994 there has been no official measure than includes discouraged people who have not looked for a job for more than a year. Including all discouraged workers produces an unemployment rate that currently stands at 23.1%, almost four times the rate that the financial press reports.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: corruption; economy; employment; fraud
That 23.1% figure will be closer to 35-40% by the time Obama leaves.
1 posted on 07/08/2014 12:00:26 PM PDT by GilGil
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To: GilGil

Yes, and it is all right on plan. This administration is a total fraud and operating with impunity.

2 posted on 07/08/2014 12:03:52 PM PDT by EagleUSA
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To: EagleUSA

AND republicans are reacting with cowardice and apathy..

3 posted on 07/08/2014 12:08:03 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: hosepipe

That is so scary that we can hardly care (duck’n & runn’n!)

4 posted on 07/08/2014 12:08:52 PM PDT by HiTech RedNeck (Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
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To: hosepipe
I used to think that, but now I think they are willing partners. At least the GOPe is.

That is why they hate the tea-party folks A.K.A. middle-class Americans and will not hesitate to stoop as low as they did in Mississippi. It's why they support amnesty. It's why they spend our money like there is no tomorrow. It's why they refuse to listen to us. I could go on and on and on, but I am sure you get the idea.

More and more conservatives are just now leaving the Republican Party because they have finally accepted that the Republican Party has indeed left them.

5 posted on 07/08/2014 12:26:56 PM PDT by Robert DeLong (u)
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To: GilGil

Unemployment Drops to 0% as Last Worker Leaves Labor Force
The People’s Cube ^ | May 3, 2014 | Opiate of the People Posted by 4Liberty

Comrade Barack Obama today became the first to achieve a milestone coveted by enlightened central planners everywhere when the Bureau of Laborious Statistics announced the much-followed totally-meaningless “headline” U3 unemployment rate for last month was ZERO PERCENT! This means that the glorious economic recovery he engineered after the disastrous Bush years has now attained FULL EMPLOYMENT!

It is a tribute to Professor Obama that he was able to find the Holy Grail which eluded history’s greatest economic thinkers such as Lenin, Stalin and Mao. This landmark achievement along with his establishment of free healthcare for everyone via the Affordable Care Act cements his reputation as the Greatest Leader in this or any other universe for all time.

The dramatic moment occurred at 12:03 PM, four weeks to the day after Lyman Yilk, a pipe-fitter from Bittcling, Pa, finally gave up looking for work. Mr. Yilk has been unemployed since 2005 but was on a celebratory bender since the day after Mr. Obama’s first election and did not know that the Keystone Pipeline (which Mr. Yilk was hoping to find work on) had been cancelled due to environmental concerns. When he finally sobered up four weeks ago and learned the project was dead, he abandoned his search to find a job.

Mr. Yilk was the last worker to leave the labor force and turned the lights out as he left. According to the BLS definition:

Quote: U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks. Without Mr. Yilk, there was no one actively looking for work any longer, hence the U3 rate was now ZERO PERCENT, praise Obama!

Gloom-and-doom naysayers were quick to note that the labor force participation rate had also dropped to zero percent which (according to them) was not a good thing as it meant no one was employed. Comrade Nancy Pelosi countered their racist, straw-man argument brilliantly by observing that it also meant no comrade was any longer “job-locked” and each was free to be an artist, writer, hooker, etc, and pursue their passion.

“There is no underestimating this tremendous achievement of Barack Obama” said Paul Klugeman, an expert on hiding declines and fudging economic statistics as well being the self-proclaimed “Conscious Liberal”. “Comrade Obama has achieved the socialist dream of freeing all of The People ™ from the slavery of work and permitting them to live off of someone else’s dime as god, if he existed, would’ve wanted.”

Dr. Klugeman was asked if a problem would arise due to the fact that since no one was working, there would also be no one to pay for the benefits that all the non-workers were collecting.

“Nonsense”, he proclaimed. “The Fed will simply print money for artists and writers and hookers to use to buy things from China! What could go wrong?”

It seems so simple now, it’s a wonder no one ever thought of it sooner.

“The genius of Dear Leader Barack Obama lies in his simplicity”, said Dr. Klugeman.

We agree.

6 posted on 07/08/2014 12:27:42 PM PDT by Grampa Dave ( Obama's Storm of Illegal immigrants, = new democrat voters and His Katrina Moment!)
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To: GilGil

I think most people know this intuitively, even if they don’t know exactly how bad it is. All you have to do is look around on the street in the middle of the day. Those people would not all be wandering around if this nation was near full employment. The grocery stores would not be full of shoppers at noon, with 9/10 people paying with EBT cards, if we were near full employment.

7 posted on 07/08/2014 12:35:03 PM PDT by Boogieman
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To: Robert DeLong; hosepipe

You might find this article interesting.

Why Don’t Republicans Respond To Border Crisis? – People Want To Know Why The “GOP” Does Nothing To Stop The Illegal Alien Madness… We’ll Explain

8 posted on 07/08/2014 12:36:45 PM PDT by khelus
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To: khelus
According to this site he opposed The Unaffordable Care Act, A.K.A. Obamacare, which is in direct disagreement with their number 1 issue they claim Tom Donohue supports.

The problem is no one knows what the truth is anymore.

But I do know what my lying eyes see. That being the reprehensible opposition & obstruction by the GOPe against their core base. They should have had this mid-term election in the bag. Instead they have lost me at least and probably the Senate as well.

9 posted on 07/08/2014 1:20:20 PM PDT by Robert DeLong (u)
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To: GilGil
Since 1994 there has been no official measure than includes discouraged people who have not looked for a job for more than a year.

So comparing Clinton's economy to Reagan's economy is apples and oranges.

10 posted on 07/08/2014 2:31:02 PM PDT by TwelveOfTwenty (See my home page for some of my answers to the left's talking points.)
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To: GilGil
For some reason...I have not seen the phrase....

Recovery for Wall $treet but not Main Street

in the popular media....

11 posted on 07/08/2014 2:35:06 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: GilGil

The number is completely fraudulent.

12 posted on 07/08/2014 2:35:41 PM PDT by TBP (Obama lies, Granny dies.)
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