How in the world can we be at 1978 workforce labor levels with our population growth since then? If this report is accurate, this is catastrophic news. Outside of the illusion of endless QE spending and massive welfare programs, I have no idea how we are not in a full blown depression.
I love how some of CNBC talking heads are blaming this bad report on the weather. I’m so tired of their lame excuses about the weather causing people not to hire or sales to be bad, its total BS. It’s cold in MI in the winter and warm in Miami, people deal with it, it’s not some news worthy event, it has very little impact on jobs or the economy at a national level. The only exception to this would be extremely rare events like Cat 4-5 hurricanes, tsunamis and earthquakes.
They have lied and manipulated the unemployment data for so long; I don’t think anyone really has a clue what the correct number is. It sure isn’t 6.7%. Many non-biased economists speculate the accurate national unemployment number is around 12%-14% and in some regions it’s well above 20%; but who really knows?
These SOBs have essentially bankrupted us as a nation with these insane monetary policies over the last few years. Now the Gov/FED with the preponderance of the media is trying to cover their ass with any excuse or diversion necessary trying to hold it together. Instead of solutions from our leaders and the media to these problems, it's nothing but cover up, blame and excuses, it's pathetic to witness the propaganda and desperation.
Outside of a nuclear exchange or nation state sponsored attack, these fools have done more financial damage to this country over the last few years than any foreign enemy or group of terrorists could have dreamed of. We have spent trillions upon trillions with absolutely nothing to show for it but more debt and increasing unemployment. We could have done so much with that money at a personal and nation level. All we did was set the stage for an economic catastrophe. Even if it doesn’t totally come apart and they manage to somehow keep the show going, we are setting up our children and grandchildren to be debt slaves or worse.
We used to be that shining star on the hill, now we are more worried about extending unemployment benefits, endless welfare, class warfare, gay rights, supporting illegal aliens and QE, my how far have we fallen.
I think the clock is ticking on this mess and we are heading for a event that will make 2008 look like a cake walk. Who knows, they control the media and market so much, maybe I'm the one that will look crazy and it's all going to be rainbows, unicorns and Dow 25K by the end of the year.
What a freaking mess.