The U.S. Bureau of Labor Statistics has reported a low unemployment rate for years. Behind these reports are articles about 50 percent of all inner-city young blacks being unemployed and another story about 33 percent of everyone who lost their job after age 55 and never found another one. A local church bulletin long ran this note: “Success is reaching Social Security age before you have to go bankrupt. The Consumer Bankruptcy Project found that the rate at which older Americans — those 65 or older — were filing for bankruptcy increased. 1991 and 2001. The strongest increase in Chapter 7 filings occurred among people over age 55. In 2002, the percentage of Americans over age 45 going bankrupt reached 39 percent, compared with 27 percent in 1994, the study found.
Another report says that 47 percent of all small business owners maxed out their credit cards to keep their businesses afloat in an economic arena of unfair trade. Many ended up suffering extortionate rates of up to 35 percent interest. Apparently, many bankruptcies are based not only on consumer overspending, but on survival. Today, many who believed in the Free Enterprise system and the American Dream must take a bankruptcy course before filing for bankruptcy. This new law has been passed by politicians, many of whom are “double dippers” who receive both a salary and retirement income, while in the private sector they are required to take this course after many years of working in business.
The most striking counter statistic, however, is this one. Only about 40 percent of all workers in the US are eligible for unemployment insurance. The other 60 percent is in some kind of economic limbo. They either don’t work long enough for one job or earn enough money over a period of time to qualify. (We also don’t know how things add up to some people working up to four jobs at a time. It seems the BLS reports that one job equals one employee.)
As a result, the Bureau of Labor Statistics will stop using the unemployment bureaus in their reporting. That leaves us with this final conclusion. We don’t need conspiracy theories to know that unemployment reporting is a managed system and a single mother earning as little as $100 a month is considered a job. That would have been laughable in the 1970s. Then the laughter would have turned into something more serious and a hearing in Congress would have been held. In the current economic arena, nothing has been done to expose this terrible void.
The BSL finally admitted about five years ago that many go missing from any form of reporting giving up on the job search. They put this figure at only 4 million, while the streets tell us it must be much more than just 4 million. Hurricane Katrina in New Orleans exposed a vast underclass living in a silent depression. The same could be true in our country.
It’s hard to figure out that many jobs are full-time. From what we’ve studied, only about 88 million jobs are full-time, confirming economic uncertainty with a labor force of at least double that. Studying how the unemployment rate is collected is a different story.
Reportedly, the BSL gets their results from a random statistical call of 50,000 households per month.
The person who answers the phone is asked if they have looked for a job in the past month. If they say no, they are counted as employed. If a person says to help in the family business or farm without any compensation while looking for a regular job, he too is considered an employee. We welcome anyone who tells us we are wrong and we wish we were wrong. According to the Get America Working Forum, 50 percent of American workers are underutilized. The term underemployment has faded.
Meanwhile, the media keeps telling us how good the economy is with our low unemployment rates. They tell us how well the stock market is doing too. Once upon a time, however, the value of companies’ stocks would increase based on how many people companies could hire while still making a decent profit. Today, stock values are now based on people being fired rather than hired. Some American companies now only have about 10 percent of their workforce in America. The value of the shares rises as more low-paid foreign workers are hired. As consumers buy their jobs away at places like Walmart.
President Clinton affirmed free trade by passing NAFTA and GATT trade agreements. President Bush followed suit and affirmed that it was nothing personal as it was just a matter of getting Fast Track approved, making the executive branch the CEO of world trade. President Bush tells us that the Mexican workers are coming to the United States to take jobs that Americans will not. He neglects to tell us that Mexico also reports low unemployment rates and apparently there are many jobs in Mexico that Mexican workers are unwilling to take. The more than 4,000 factories that were moved from the US to Mexico apparently did not help the Mexican economy very much. It created a new working class in the US and an impoverished working class in Mexico. Now many of these factories are moving from Mexico to places like China because the Chinese will take jobs that Mexican workers will not. The Globalist Free Traders want a global economy without borders. They say it will spread wealth, but in reality they spread poverty because there will always be someone who will work for less to the level of wage slavery and even child labor.
Today we can travel for miles around our cities and look at the vacant factories and stores as the government tells us that happy days are upon us again with the greeters at Walmart welcoming us to spend money on products made in faraway places, while our local value-added economies have been hacked to pieces like relics from another time. Our industrial power won World War II and restored value-added local economies in Europe and Asia through the Marshall Plan. In the end, the US lost World War II fifty years after the battle was over.
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