The Obama Economy

summed up.

EXCERPT:  “Initial jobless claims dropped 1k to 266k (from a downwardly revised 267k) remaining near 43-year lows.Here’s why that’s odd…

Who do you believe?”

Question: How can initial jobless claims be going DOWN when one, the quarterly GDP is a shambles, and two, productivity is on a wicked downward trend? As Zero Hedge says, “someone’s lying!” The U6 number is 9.7% and actually, if one tabulates the 95 million Americans OUT of the workforce, likely for a very long time, the REAL unemployment number is over 20%.

Excellent read (and comments) at:
http://www.zerohedge.com/news/2016-08-11/someones-lying

About GunnyG

Retired US Marine and pissed-off American. Tired of the bullshit from inside the Beltway and determined to change it, peacefully or otherwise. A Constitution-loving American who believes that the US is #1 and should be!
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15 Responses to The Obama Economy

  1. Hardnox says:

    There’s no question about the lying. The bastards haven’t told the truth since day one.

    Maybe I’m slow here…. so bear with me.

    IF there are 320 million residents in the USA and one subtracts the retirees, kids under 18, stay at home parents, and the disabled AND THEN subtracts the 94 million unemployed, how the hell does anyone get to any number less than 50%-60% unemployment on a good day… even using Common Core math?

    I know the 4% number is a focus group tested number to keep Wall Street from flipping out and also as a turd-shining operation intended to keep the lemmings pacified BUT the numbers don’t add up to even the 37% unemployment that I have read about in the WSJ some months ago.

    We know the whole meme is bogus but this number doesn’t even remotely pass the smell test especially since the economy is in a downward spiral.

    • GunnyG says:

      Hardnox,

      Trust the Gruberment to try and pick up the turd by the clean end!

      I would bet money that the REAL unemployment number is over 30%!

  2. Uriel says:

    Good post Gunny. Hardnox. 4%? It was posted 1% in Wall Street mags. The thing is if we were to subtract refugees and illegals getting social services we probably understand better. Unemployment is totally screwy numbers since so many have lost their benefits. So when we hear %decrease in unemployment due to jobs that’s totally bunk based only on checks going out. Plus think how many have jobs of 20hrs or less per week now versus 10 years ago. AND how many well known large companies are closing stores. For instance, Macy just announced 100 stores closing.

  3. GunnyG says:

    Uriel,

    1%? Someone is high on crack at the WSJ.

  4. Saltwater says:

    Just a guess, but maybe the ‘decline’ for initial jobless claims is ascribable to the obscenely low labor participation rate. With so few working, there are not as many susceptible to layoff.

  5. I.R. Wayright says:

    “Initial” jobless claims. Just those applying who only just lost their jobs. Not those already drawing benefits or those whose benefits have run their course.
    Add all three numbers up and it is probably north of 15% real unemployment. Those who have given up looking for work because it is fruitless are not considered at all in the numbers.

    • GunnyG says:

      I.R. Wayright,

      I agree. I’m betting that the real number is between 15% on the low end and 25% on the high end. Almost as bad as during the Depression!

  6. clyde says:

    As with every goddamned thing with this bunch, just more lies and bullshit.

  7. Peppermint says:

    It’s just one more lie from this administration to make it look like our economy is picking up when we know how many people have left the job force and are no longer counted.