American Economic Collapse - Part III
"Job Disinformation From the New York Times
Paul Craig Roberts
Thursday, Feb. 9, 2006
The latest BLS payroll jobs report says that January 2006 is now the 61st month that the U.S. economy has been unable to create any jobs except ones in domestic non-tradable services, most of which are low-paid.
In his rosy jobs report, Vikas Bajaj does let it out of the bag that "economists estimate that the nation needs to add roughly 150,000 jobs a month just to keep up with population growth." That translates into 1,800,000 new jobs per year to stay even with population. Over the past 61 months 9,150,000 new jobs were necessary in order to prevent population growth from pushing up the unemployment rate.
How many new jobs have been created over the past five years and one month? According to the Bureau of Labor Statistics' latest revisions, a total of 1,054,000 net new private sector jobs were created over the past 61 months (January 2001 through January 2006). Add the total net government jobs created over the period for a total net job creation of 2,093,000 jobs over the past 61 months.
That figure is 7,057,000 jobs short of keeping up with population growth!
Gentle reader, the politicians, the media and the corporations are all lying to you."
One of your best defenses for what is coming economically, a massive increase of the supply of US dollar fiat tokens, is gold and silver metal for starters. Then shares of producers and explorers. This little reaction to the down side in gold and silver in the whole scheme of things is nothing. I would say that it is over now. It is increasing gold and silver prices from this point.