Saturday, February 14, 2009


December job losses have been revised upwards by 53,000. And January's losses were actually understated by 118,000 to account for seasonal adjustments. That brings the total two month job loss to 1,175.000. At that rate creating 3.5 million jobs over the next two years provided you believe the hype about the Stimulus Bill will not stem the rising tide of unemployment. In 12 months we will lose more than 6,600,000 jobs.

Paul Craig Roberts, Assistant Treasury Secretary in the Reagan administration, has pointed out the difference between the Labor Department's Household survey and their Payroll survey. The Household survey polls 60,000 homes to determine the number of people who have jobs. The Payroll survey counts the number of jobs. Mr Roberts points out that some people have two or more jobs so the two surveys do not give the same results. The Household survey puts total job losses for December at 806,000 and 832,000 for January. That is a two month total of 1,638,000 or more than 7.2 million at an annualized rate or 3.7 million more jobs than promised by that Stimulus Bill over the next two years.

But John Williams at has revealed a darker side to those unemployment figures. In 1994 the definition of unemployment was changed to exclude longterm unemployed workers who have given up looking for work because they could not fins a job after one year of searching. If you use the original definition, the United States unemployment rate for December was 17.5% and 18% for January.

This requires some explanation for people under 50. I live in Silicon Valley. I know lots of people over 50 who cannot find work. I also know two men, one white and one black, recently hired at $12 an hour. It should be noted that $12 an hour is not a lot of money in Silicon Valley. The last time I looked a 422 square foot studio apartment can be rented for a mere $950 a month. I also met a driver for a document shredding company who told me 60% of their drivers had been laid off permanently.

I also know a lot of people over 50 who have been laid off and bo longer look for work. They would like to work but it is a waste of time for them to even apply for a job. All of the high tech jobs are going to younger people from overseas with H1-B visas who work for far less than do Americans. In the best of times men and women over 50 have a hard time finding work at their old pay. In these worst of times young American college graduates can't find work. You can see them on TV being asked how they plan to pay back their college loans.

Some of you might be astonished to hear that the ultra-liberal Robert Reich was Labor Secretary in 1994 when unemployment was re-defined so Americans would be excluded from the unemployment count. My conclusion is justified that neither political party cars about us enough to even register the pain of our losses.

My regular readers are aware of my belief that Wall Street's long term goal is to permanently cut our wages in half because they want to steal our money and it is so easy to control impoverished people. To maintain control they cannot allow us to even think about the millions of jobs going to legal and illegal aliens.

So why must they lie? They know that if we knew the truth and were allowed to discuss it on TV, on radio and in the press that their government will not stand. The government Wall Street created for us will collapse because it is evil and deserves to die.


Please do yourself a favor and study John Williams work on real unemployment and money figures. He says the Monetary Base os growing at an annualized rate of 105%:

To read Paul Craig Roberts on unemployment please go here:

This is a news story on the January Jobless from BLS.

To read a news story about the ADP January jobless figures please go here:


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