Posted: 11/3/2004 9:28:20 AM EDT
Just imagine what message it would send if jobs gre by, say, 250,000 or so this month?
Wishful thinking IMO......, it ain't gonna happen!
Unemployment in west-central Illinois is at 3.4% today. Lowest in 4 years.
Job growth for October was 175,000.
250,000 for November is not that much of a stretch.
Perhaps this may shed some light on the economy:
From the "The Oil Age is Over" by Matt Savinar, see link here: www.lifeaftertheoilcrash.net/Purchase.html
excerpt from pg 97:
70. Does Peak Oil have anything to do with the
war on drugs?
There is a famous saying which goes, “All ‘wars’ are about GOD: gold,
oil and drugs.” The war in Afghanistan is instructive:
In July 2000, Taliban supreme leader Mullah Mohammad Oman imposed
a ban on opium production. This act eliminated 70 percent of the world’s
This created a huge problem for the US economy, because it is supported
in large part by money from the drug trade. Like any good businessman, a
drug lord knows the best place to invest his money is the US stock market.
The narcotics racketeers invest as much, if not more, money in the market,
towards political campaigns, and even towards benevolent charitable causes as
legitimate business interests do.
Estimates are that 2/3 of the profits from the global narcotics trade stays
in US banks.174 While the Department of Justice estimates that $100 billion
in drug funds are laundered in the US each year, other research places the
figure between $250-$500 billion per year.175
On average, a bank will loan out $6 for every $1 that it holds in deposits.
Likewise, every dollar that is invested in a publicly traded company results in
about $6 in circulated wealth due to what is known as the “pop factor.”176
The ramifications of this are a bit staggering: $500 billion laundered in
drug money, would result in 3 trillion dollars in cash transactions resulting
from the drug trade, or about 1/3 of the US GDP in 2002.
Let me restate that so as to be perfectly clear: depending on which
figures you believe, 6-33 percent of every dollar you’ve earned or spent
has been the result of the narcotics trade. In order for the US economy to
function, we have to keep our children hooked on billions of dollars of
illegal narcotics each year.
With that much money at stake, there is little wonder the US was so
motivated to invade Afghanistan. Following the invasion, Afghan farmers
began replanting opium fields at a furious pace. These fields were usually
located in areas controlled by the Northern Alliance, which receives money
and arms from the US. By 2002, opium production had returned to pre-2000
levels.177 By 2003, the production of poppy (used to make heroin) had risen to
a level 36 times higher than in the last year of rule by the Taliban.178 As a
result, the world drug market boomed. The US stock market responded
Have you ever wondered how the economy could possibly have a
“jobless recovery?” It doesn’t make common sense. How can the market be
doing so well the past couple of years when people have less money to spend
on the goods and services sold by the corporations traded on the market?
Here’s how: you don’t need to sell many goods and services when the
world narcotics market is booming and the drug cartels are throwing money at
you like it’s going out of style.
If this is hard to get your head around, think about it this way: the local
business that is actually a front for drug money doesn’t need to sell very much
of whatever it purports to sell or hire very many employees, does it? Of course
not. It just needs to sell enough goods and services and employ enough of a
skeleton work force to hide the fact it’s laundering drug money.
That’s pretty much how the whole US economy works.
The overlap the war on terror and the war on drugs goes much further
than just Afghanistan. Many of the South American cocoa fields targeted for
“eradication” by the US, for instance, just so happen to sit atop oil fields
earmarked for large oil companies.179
Many of you may find the degree to which the drug trade controls our
economy a bit shocking. You may be tempted to call me a “conspiracy
theorist” for pointing out a very uncomfortable truth about our lives. If doing
so makes you feel better, have at it, but keep in mind the CIA has admitted the
drug cartels are running the country. In 1995 William Colby (the former
director of the CIA) stated, “The drug cartels have stretched their tentacles
much deeper into our lives than most people believe. It’s possible they are
calling the shots at all levels of government.”180
On a semi-related note, when I first read Colby’s statement, I couldn’t
help but to wonder, “Who then was calling the shots on 9/11?”
footnotes for above:
174 Ibid, p. 65, citing www.narconews.com/pressbriefing21september.html
175 Michael Ruppert, “CIA, Drugs and Wall Street,” From the Wilderness,
(June 29, 1999) Archived at
176 See Catherine Austin Fitts, “Narco Dollars for Dummies.” Archived at:
177 Scott, Oil, War and Drugs, p.44 citing Washington Post (December 10,
178 Afghan Poppy Production Doubles,” CNN News, (November 28, 2003).
179 See generally, Peter Gorman, “Plan Columbia, The Pentagon’s Shell
Game,” From the Wilderness Publications (March 10, 2003), Archived at
180 As quoted by Catherine Austin Fitts, “Narco-Dollars for Dummies,”
Archived at www.narconews.com/narcodollars1.html
I highly recommend this book, while IMO some of his ideas are far-fetched and skeptical, especially the poo-pooing of alternate energy sources, but the way he explains the economy, petrodollars and other war/drug/terrorism issues is quite informative.
BTW, this book is not for the faint of heart and can be construed as a "the sky is falling" type of hype, but there's alot of good info in it and it's an easy read, much of which FITS current events.
In addition given the out-sourcing of jobs in this country and the layoffs that have begun to occur in the oil & gas industry in which I work, I just flat don't buy the governments "job-creation" numbers. YMMV
Give the ENTIRE credibility of CBS / ABC / NBC is at stake, and given there is little to be gained by CONTINUING to lie, I predict the mainstream media will -
1. Begin reporting on a recovering economy (giving Dems credit)
2. Begin reporting on successes in Iraq (giving Dems "loyal opposition" credit)