The April employment report is in. Try as hard as he does, even President Spin can't polish this turd. But I'll be damned if the media doesn't try and do it for him anyway. http://money.cnn.com/news/economy/storysupplement/obama_jobs_timeline/
For decades, business and government were in the habit of fleecing American consumers for every last penny that they could get their greedy hands on.
Now suddenly, 88 million people have left the workforce. That is GINORMOUS. http://www.zerohedge.com/news/its-official-st-louis-feds-not-labor-force-data-officially-chart
Here's the best part. They act like they just can't understand why. It's a fucking mystery to them.
Here at Frankenstein Government, I often find myself in the translation business. This is where I explain what is going on. Kind of like George Carlin without the intelligence or humor.
Obviously our first problem is that American corporations have offshored 30 or 40 million jobs over the last decade or two. What remains- are these shitty service jobs that are part time or don't pay anything. They don't pay health insurance. The government taxes everything in sight. It costs us an additional hours' salary just for gas to get to the damn job and back. Inflation is out of control and we can't even get a return on our money if we have any money left- because the banker bastards have destroyed interest rates. Gawd help you if you need childcare. After everything gets priced in- transportation costs, taxes, shitty salary, childcare expenses...guess what? Working for less than ten bucks an hour is not possible, it's a non starter for many and people won't do it. Or can't do it.
Employers can't pay anything because government has regulated and taxed them to death. Businesses remaining stateside can't compete with offshore labor pools. Some businesses are just insanely greedy- think Verizon- paying CEOs insane wages while offering chump change to their workers. Mandatory insurance costs for things like workman's comp are ridiculous in every state.
So the entire system capitulates and says fuck it. About 88 million or so. People become part of the "we don't pay taxes and we work for cash because we have to- economy."
Here's the very best part. We owe 16 trillion in debt. If there is one person in America right now that thinks we can pay down 16,000 billion worth of debt with 88 million people out of work and 88 million other people making ten bucks an hour- good luck with that pretzel math. That's the same pretzel math your government uses while allowing hundreds of corporations like GE to escape billions of dollars worth of taxes.
We have a structural problem that cannot go away without serious reform. Since the great collapse- our greatest minds have embarked on a "print more money and give it away" strategy and have not done a damn thing to attack the underlying cause of our economic malaise.
One last thing. Don't confuse the stock market with a healthy economy. The FED has printed and funneled every last dollar that it can into the stock market by essentially destroying every other investment vehicle. The only option left is to print money to eternity- which reminds me- I gotta go buy some more silver today.