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US Economy Still on Life Support

The September U.S. Employment Rate is 90%

Economics / Employment Oct 10, 2009 - 04:17 AM GMT

By: Robert_Singer

Economics Best Financial Markets Analysis ArticleThe U.S. Department of Labor Official Employment rate in September 2009 is now 90% (Unofficial rate is 75%).
And for those Americans who are still employed, they will find it harder to get that sweet deal on a new car because auto dealers won’t be competing with each other now that Brian Deese, special assistant to president Obama for economic policy made the decision (not the Chrysler bankruptcy judge), to close dealerships without regard to profitability.


Deese, age 31, in his first government position, shuffles back and forth from the West Wing to the Treasury Department dismantling the US Auto Industry and rewriting the rules of American “capitalism”. [1]
Deese’s first rule: Withdraw Credit and Liquidity.
Result – Catch 22:

The pullback in spending causes companies to cut back on inventory and staff - Creating unemployment.
Which causes spending to fall and companies to cut back on inventory and staff -Creating more unemployment.
Causing spending to fall even further, forcing companies to cut back on inventory and staff - Creating even more unemployment…263,000 jobs eliminated in September.

Full Un-Employment is on Track for 2012

The world is engulfed in a global economic crisis of staggering ferocity.
Making matters worse, a government "by and for" the American people may not be prepared for the social dislocation, economic despair and breakdown in law and order that is likely to ensue.

The Los Angeles Times Reports on the Current Un-Employment Situation: In addition to the 15.1 million people counted as officially unemployed, the number of people so discouraged that they have quit looking for jobs is 9.2 million.

Is the total number of unemployed now 24,300,000?

No.

The newly defined “de-facto” unemployment rate does not include all the categories of people who are no longer in the labor force, in other words, the under-employed, the marginally employed, and the part time job seekers who can no longer find work.

Data from The McKinsey Global Institute estimates the real de facto unemployment rate in the United States would be 24.78%.

Thus, there are almost 39 million, not 15.1 million, or even 24.3 million Americans who are no longer working or looking for work, and that figure is before the Federal Reserve kicks Brian Deese into high gear. [2]

Since there is not enough police, National Guard or military to keep order when 39 million people panic, Barack Obama will restore order by telling his followers standing in lines that this nation, unlike in the past, will put its hands on "the arc of history and bend it once more toward the hope of a better day."

As a president elected in a landslide by young and old, rich and poor, Democrat and Republican, black, white, Hispanic, Asian, Native American, gay, straight, disabled and not disabled, Obama will lead the nation out of its unsustainable American Dream and into a great new depression.

Even with evidence to the contrary, Americans believe government is suppose to take care of them because "it's their job." In an environment of homelessness, poverty and suffering, millions of unemployed Americans will forget their 60 years of unprecedented prosperity--at the expense of the Third World and the environment--and look for someone to blame.

But they won't find a Bush, Clinton or even a Ronald Reagan in Washington. Instead, sitting in the Oval Office will be King Barack Obama, telling us to return to our homes, cars or tent cities.

The newest leader will, in fact, be followed because this time Americans believe their dreams came true in 2008 when Barack Obama was elected the 44th President of the United States.

We hope and pray Obama wants to put us back to work and reclaim the American Dream but the new rules of capitalism call for an

American Nightmare.

Barack Obama, an unknown senator four years ago, is not one of "us." He travels in the same circles as other members of the super-secret Skull & Bones society of Yale University who pretend to be running for president every four years. The decision to make Obama Commander in Chief of the collapse was made four years ago; the November election was a formality [3].

To believe otherwise is to ignore the Bradley/Palin effect, the voting machines that flipped ballots before the voter left the booth, and the decision by John McCain to wait until his concession speech to shed the image of a nasty "grumpy old man."

In September 2008, when the Obama campaign seemed to be slumping and their candidate's long-standing lead in the polls had evaporated, the senator's supporters openly worried that a potential victory might be slipping away. Then providence joined the campaign: the failure of the giant investment bank Lehman Brothers followed by a global financial meltdown which began in the month of October. [4]
"If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy," on Nov. 4, 2008 you received your answer: It did not matter who you voted for because it was already written: Barack Obama would be the President of the United States by a landslide.

Instead of being the “most dangerous man in America”, the Candidate for Change and Hope will be the “most remarkable leader the world has ever seen”--intellectual, oratorical, governmental and a genius who will guide us through the greatest calamity the world has ever seen.
Thanks to Barack Obama, a 21st century Martin Luther King, there will be chaos, but not anarchy.

The really inconvenient truth is this: The 600 detention centers built by the Halliburton subsidiary KBR do not have the capacity to hold the 39 million Americans who will be out of work, out of home and out of food.

Will they be out of hope?

Footnotes:
[1] The 31-Year-Old in Charge of Dismantling G.M. by David E. Sanger, The New York Times: May 31, 2009
[2] We don’t want your tired, poor, huddled masses yearning to trash the planet:
The Federal Reserve, 2009 by Robert Singer
[3] Why Joseph Biden will be the Next Vice President of the United States by Robert Singer
[4] October Crashes, Black Monday 10/28/1929, Black Monday 10/18/1987, Soviet Union Black Friday 10/18/1991 and Black Tuesday 10/29/2008

By Robert Singer

Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society.  The articles have been main headlined and can be found on numerous popular websites: Marketoracle, Silverseek, Goldseek, Daylife, LAprogressive, Canadafreepress, Opednews, Daily.pk and many of the Wordpress sites. Richard Daughty, The Mogambo Guru, proclaimed him a Junior Mogambo Ranger (JMR)

Dem Bones is Connected To De Debt Bone by Robert Singer, an analysis of the Federal Reserve, can be found on numerous popular websites including G. Edward Griffin’s Unfiltered News. Edward Griffin is the author of,the definitive work on the Federal Reserve, The Creature from Jekyll Island.

Meat, Milk and Motors: The New China Syndrome by Robert Singer, an essay about China first released in February 2009 has been widely posted and read on the Internet. Quotes from the article can be found in The Wall Street Journal Digital Network and the essay was the Top World Story on the Pakistan Daily website for over a week.

© 2009 Copyright Robert Singer - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Robert Singer Archive

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