How Sick Is the U.S. Economy?

Here are some up-to-date snapshots of the U.S. economy as published in an excellent article in Zero Hedge on June 3, written by Jim Quinn in “The Burning Platform” blog.

Chart

Now you tell me where Wall Street gets its notion that the U.S. economy is strong enough to allow the Fed to raise rates? It is simply a propaganda con game to try to keep citizens tranquil so the Fed can continue to pick our pockets without our getting upset! It’s time Americans wake up and I believe, judging by the response to Sanders and Trump, they are beginning to wake up. Perhaps Wall Street’s problem isn’t that they are slow learners but rather they realize that keeping the populace tranquilized continues to benefit them. But how on earth can lower income people, including blacks, be content with the status quo political elite when blacks, worse than any other group, are getting hurt even with a black President issuing one Executive order after another and with healthcare costs surging?

Following are some excerpts from the excellent article published earlier today at Zero Hedge, titled, “The Funniest BLS Report Ever,” by Jim Quinn.

“Only a captured government drone could put out a report showing only 38,000 new jobs created, with the working age population rising by 205,000, and have the balls to report the unemployment rate plunged from 5.0% to 4.7%, the lowest since August 2007. If you ever needed proof these worthless bureaucrats are nothing more than propaganda peddlers for the establishment, this report is it. The two previous months were revised significantly downward in the fine print of the press release.

“It is absolutely mind boggling that these government pond scum hacks can get away with reporting that 484,000 people who WERE unemployed last month are no longer unemployed this month. Life is so fucking good in this country, they all just decided to kick back and leave the labor force. Maybe they all won the Powerball lottery. How many people do you know who can afford to just leave the workforce and live off their vast savings?

“In addition, 180,000 more Americans left the workforce, bringing the total to a record 94.7 million Americans not in the labor force. The corporate MSM will roll out the usual “experts” to blather about the retirement of Baby Boomers as the false narrative to deflect blame from Obama and his minions. The absolute absurdity of the data heaped upon the ignorant masses is clearly evident in the data over the last three months. Here is government idiocracy at its finest:

Number of working age Americans added since March – 406,000

Number of employed Americans since March – NEGATIVE 290,000

Number of Americans who have supposedly voluntarily left the workforce – 1,226,000

Unemployment rate – FELL from 5.0% to 4.7%

 “Talk about perpetrating the BIG LIE. Goebbels and Bernays are smiling up from the fires of hell as their acolytes of propaganda have kicked it into hyper-drive. We only need the other 7.4 million “officially” unemployed Americans to leave the work force and we’ll have 0% unemployment. At the current pace we should be there by election time. I wonder if Cramer, Liesman, or any of the other CNBC mouthpieces for the establishment will point out that not one single full-time job has been added in 2016. There were 6,000 less full-time jobs in May than in January, while there are 572,000 more low paying, no benefits, part-time Obama service jobs. Sounds like a recovery to me.

“It gets even better. The birth death excel spreadsheet “adjustment” added 224,000 phantom jobs into the May calculation. The lies – they burn. We know for a fact more businesses are closing than opening since the 2008 financial crisis. This model assumes more openings than closings. IT’S ADJUSTMENT IS DEAD WRONG. In reality, jobs should be subtracted from the total. It added 231,000 phantom jobs in April too. The jobs numbers are much worse than the bad numbers being reported.

 “When you see lies, misinformation and deceitfulness at this level, you have to ask yourself whether this entire debt supported house of cards is about to fall. The smell of desperation is in the air. The MSM stories about a booming economy are rolled out on a daily basis. Meanwhile, the average family is being crushed by Obamacare, rising rents, rising food costs, and no interest on any savings they might have left.

“It also seems awfully suspicious that within seconds of the awful report, the faux journalists immediate reaction was NO FED RATE HIKE in June or July. These pundits of propaganda want the ignorant masses to think a .25% increase in interest rates actually matters to the economy or the average person. We’ve had ZIRP for almost seven years and the economy blows. Rates have been at emergency levels as the establishment has flogged the economic recovery story to death. There has been no recovery for the average person. The recovery has been for Wall Street and the sycophants who suck off their teat.

“Obama has been on his self congratulatory tour exclaiming how awesome the economy has been under his reign of error. The Bush presidency was most certainly a fiscal disaster, but Obama’s tenure was even worse. The numbers don’t lie, but Obama does.”

 “Look at that stupendous record of success. Obama should be as proud as punch. Since the unemployment rate is now back to 2007 levels, before the Federal Reserve/Wall Street/Washington DC created financial implosion, let’s take a look at the Obama success story:

  • The workforce has grown by 21 million people, while the number of employed has grown by a whopping 5 million.
  • The labor participation rates has plunged from 66.0% to 62.6%, the lowest since the 1970s.
  • The number of Americans who have left the work force because their lives are so fulfilled is 16 million. I’m sure there is no correlation to food stamps or SSDI enrollment.
  • The Boomer retirement narrative is proven false by the fact that a record percentage of Americans over the age of 65 are working in order to avoid starvation and homelessness.
  • Of the 5 million jobs added since 2007, only 2 million of them were full-time.
  • Obama’s success in destroying the mining industry is borne out in the 207,000 jobs destroyed in the last two years.
  • The percentage of men aged 25 to 54 (prime working years) not working is at an all-time high.
  • Real median household income (using the fake understated CPI) is still 1.3% LOWER today than it was in 2007.
  • Wages continue to stagnate in the 2.3% range, while real inflation for real people in the real world exceeds 5%.

“It doesn’t matter how much propaganda the establishment peddles, average families who aren’t beholden to the establishment for their living, know how bad the things have gotten. They have been getting increasingly pissed off. The rising tide of support for Trump and Sanders is a reaction to the lies, misinformation, mismanagement, corruption, and lawlessness of the establishment. The people know they have been screwed. The complex web which makes up the establishment control makes it difficult for the average person to discern who exactly has screwed them, but they know a screw when they feel it.

“As this summer progresses and the economy continues to sink, the anger will continue to build. The violence has already begun, as paid thugs are bused in to create havoc at every Trump rally. The establishment fears the unknown. They need to control the agenda. Trump scares them. The economy is clearly in recession for the average family. The stock, bond, and real estate markets are the most overvalued in history. A crash in any or all of these markets would unleash mayhem. The next five months could alter the future course of this country. Stay tuned.”

Amen! Amen! Amen! Amen! That was my response when I read the above remarks from Mr. Quinn. This is very sad news for America and for the world. If the U.S. is the “shining light” for the global economy, then God help the human race. But wait! Perhaps we won’t have to worry much at all about economics because in fact an economically starving and essentially bankrupt Anglo-American empire just might force the hand of Russia and China to launch nuclear weapons in an effort to protect themselves from the one-world government the Bilderberg group is planning to impose. That may sound like a bit of hype to sell newsletters, but in my view it is not unthinkable at all if you pay any attention to geopolitics, not through the eyes of America’s major news media but by reading sites like Zero Hedge. All the more reason in my view to ask the really big questions in life like, “How did we humans get here?” “Why are we here?” and “Where are we going?”

A Golden Shelter from a Messed Up World

A rising gold price reveals all is not well with the economy. The perpetrators of monetary crime at the Fed react much as a robber revealed by an unanticipated floodlight reveals him/her breaking and entering into a home.

A rising gold price is obviously very good for the profits of this newsletter as once again revealed from a 50% rise in Our Model Portfolio through the first five months of 2016.  But I want to make one thing absolutely clear to any “gold hater” out there who may be reading this letter. I do not cheer for economic decline so I can make money. I do cheer for a rising gold price so it reveals the monetary crimes being perpetrated by the Federal Reserve Bank and/or the criminals in the White House, the Congress, and the judiciary branch too. After all the U.S. Supreme court failed in its responsible to enforce the laws of the U.S. Constitution when it enabled the London and New York banking thieves not only to enter the banking system by illegally replacing Congress to control the monetary system. But it also failed to enforce the definition of the dollar as being a set amount of gold and/or silver. No, the reason I own gold in various forms is because I know ongoing Keynesian socialism has cast the die for a declining global economy, a declining dollar, and ultimately a defeated American hegemony. As honest money, gold will serve to preserve wealth. As we are starting to see in 2016, the relative declines suffered over the past five-year bear market should be returned. And if we can pick some very good gold mining stocks, we may actually come out ahead of where we were before this recent decline.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.