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Paul Craig Roberts – Update to BLS December Payroll Jobs Report: It is even worse than I reported

In my column on Friday I reported the unreported facts in the payroll jobs report. http://www.paulcraigroberts.org/2016/01/08/another-fabricated-jobs-report-paul-craig-roberts-2/ If we choose to believe the report, it is really very bad news. Good middle class jobs are continuing to decline. The new jobs are jobs that pay considerably less and often are part-time jobs devoid of benefits. Moreover, the new jobs are going …

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Trends This Week – 2016: Big Risks, Big Opportunities – 12.30.15

Gerald Celente provides some insights to what major trends his Trends Research Institute are forecasting for the year ahead. Celente and his analysts are predicting a year of geo-political and economic turbulence the likes of which the world has not seen in generations. But the year will also present opportunities – Golden Opportunities, as Celente has labeled the trend – for new profit potential, meaningful work and service and social movements to take shape to generate political and cultural reforms.

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Andrew Levine – The Age of Stupidity is Upon Us

What if when the World Trade Center and the Pentagon were attacked, the United States had had leaders like the ones that built the post-World War II world order? Those guys weren’t angels: they got the Cold War going, and they set the American empire on its global course. But they weren’t stupid. Even at a time when, unlike now, …

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Dear Janet Yellen, Here Is All You Need To Know About The US Economy: True Unemployment Is Over 12%

One of the great mysteries surrounding the US economy is the seemingly inexplicable discrepancy between the plunging unemployment rate on one hand, which at 5.1% in August was the lowest since April of 2008 – a data point which on the surface would suggest virtually no slack in the labor force –  and the crawling pace of growth of the …

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698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart

After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike “threshold” once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though …

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Peter Gosselin – Why American Teens Aren’t Working Summer Jobs Anymore

This was supposed to be a better year for teenagers to land summer jobs, and July has always been the peak month for such positions. Things haven’t worked out that way, according to the Labor Department’s latest jobs report. On an unadjusted basis — which is probably fairer given the question is seasonal jobs — there was a 1.2 million increase in teen …

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Jeb Bush Proves He Has No Clue About US Economics Op-Ed by Naji Dahi

Jeb Bush, one of the leading Republican candidates for the presidency, is in the news again—and not in a good way. During a meeting with the editorial board of the New Hampshire Union Leader, he reportedlysaid the following: “My aspiration for the country — and I believe we can achieve it — is 4 percent growth as far as the eye …

How to Steal from the Taxpayers While Blaming the Poor – Paul Buchheit

a vicious circle of hypocrisy: Americans dependent on the safety net are urged to “get a job” by the same free-market system that pays them too little to avoid being dependent on the safety net. Theft, Part 1: The Average U.S. Household Pays About $400 for Safety Net Programs for Low-Wage Workers According to the Economic Policy Institute, $45 billion per …

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Economic Disinformation Keeps Financial Markets Up – Paul Craig Roberts

Today’s payroll jobs report is more of the same. The Bureau of Labor Statistics claims that 223,000 new jobs were created in April. Let’s accept the claim and see where the jobs are. Specialty trade contractors are credited with 41,000 jobs equally split between residential and nonresidential. I believe these are home and building repairs and remodeling. The rest of …

dwindling US economy

The Dwindling US Economy – Paul Craig Roberts

The announcement today (April 29) of a barely positive GDP first quarter 2015 growth rate of 0.2 percent (two-tenths of one percent) is an intentional exaggeration. Today’s GDP report is the “advance estimate.” There will be two revisions, with the first occurring in one month on May 29. Although the “consensus estimate,” which is Wall Street’s estimate, declined dramatically over …