Dr. Paul Craig Roberts – Unemployed America – Shadow of Truth #9

TND Podcast Spotlight:  Shadow of Truth |

As our country and world slip further into the abyss of an economic slow down, the mainstream media only reports lies and propaganda. If we look at the reality of the job market the only jobs being created are, primarily, low wage, retail and service sector jobs. Not one of these job classes manufactures anything. How sustainable is an economy that simply shifts currency from a grocery store clerk, to a restaurant waiter or a nurse at the local hospital then back to the store clerk? This is merely a circle and the currency is trapped. Until someone steps in and creates a product that requires raw materials, from outside sources, and requires someone to sell what is manufactured, our economy can not and will not grow.

When we review the employment information that is produced by the Bureau of Labor Statistics (BLS) every first Friday of the month the jobs listed above are the only jobs being reported as “improving”. Let’s take a look at what the BLS presented this month.

As you can see the BLS paints a picture that doesn’t really justify any “shadow of crisis” passing. Let’s dig into the truth behind this lie and piece of propaganda.

First question. How many people were fired or lost their job for other reasons, like store closings, bankruptcy? Can anyone say Radio Shack? Sure you can. Radio Shack filed for bankruptcy in February and is planning on closing most of it’s stores. The remainder are being sold to Sprint and General Wireless.

Is that reported when the mainstream media begins screaming about 295k jobs created and unemployment dropping to 5.5%? Not a word. How many people stopped looking for work because they have been unemployed so long they have given up? Silence again. How people are working multiple part-time jobs and would actually like to have full time employment? Crickets.

Now, if we look at the holiday season from 2014, which is basically the last quarter, did we see a retail sector on fire with sales? Well, according to Reuters, holiday sales were down 8%. Not exactly the type of news to make a retailer going on a hiring spree.

(Reuters) – U.S. retail store sales fell 8 percent during the 2014 holiday season despite a late shopping surge, but overall holiday sales should show a 3.5 to 4 percent rise from a year ago because of stronger online buying, analytics company Retail Next said on Wednesday.

In another sign of disappointing Christmas sales for brick-and-mortar retailers, RetailNext said foot traffic dropped 8.3 percent during November and December versus a year ago at the specialty stores and large retailers it tracks. However, customers who did visit stores spent slightly more on average than a year earlier.[Source]

Target, one of the nations largest retailers just announced they are going to lay off thousands over the next two years.

MINNEAPOLIS (WCCO/AP) – Target Corp. announced Tuesday it will be eliminating several thousand positions over the next two years.
Company officials said many of those jobs will be at Target’s corporate headquarters in Minneapolis. The cuts are part of a dramatic restricting plan to get the company back on track after it lost $2.5 billion in the fourth quarter of last year.

In a presentation to shareholders in New York, top executives stressed the company had lost its way and was caught flat footed as competitors moved more quickly to take advantage of the increasing shift to online shopping and mobile marketing.[Source]

Can someone please explain to me how, in a retail, service based economy with money moving in a circle, is anyone hiring when we see two pieces of economic news that state the exact opposite.

While this is going on the cheerleaders at CNN, CNBC and ALL the mainstream media are parroting the headline numbers of 295,000 “new jobs” and 5.5% unemployment. These clowns get their orders and read the tele-prompter and life is good for them. Bad actors that can not get a real job in an actual movie or commercials. Pathetic.

Let’s give a listen to an economist, author and Father of Reaganomics, who is not afraid to tell you the truth. Who is not afraid to stand up and challenge the talking-head mainstream media clowns and present them, not only, with real questions but real answers.

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