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Obama Fuzzies Seem To Be Fading
Most of what we are witnessing, epic failure on the part of an inexperienced pretender as our President, has been predictable to those who are not politically naïve. I've written about the many trials and tribulations that have occurred under the guise of leadership of Barack Hussein Obama and his lack of the qualities needed to lead besides given a great teleprompter speech. Much of what he has tried has been tried before and also failed before, particularly in the Keynesian economic arena. These same type of policies have been roiling the European Union nations who haven't, until this time, had the sense to jettison the disproved theories of that philosophy. They just don't work in the longer run. You run out of other people's money as Margaret Thatcher so eloquently pointed out.
What can be seen is only what this administration wants to be seen. That's the newest definition of transparency I can conjure up at this point but it mine none-the-less. It's the hidden, behind the scenes things that are bothersome. You know the little things like verifying exactly who Obama is, his educational credentials and elements that we should have known bfore he was elected and still can't get a grasp on. This particular article will examine the hidden (real) numbers behind the unemployment figures that keep being jiggered to give the appearance that the rate is falling. That is a false sense of security. But then again people were doing that when they elected, then reelected, Barack Obama. It's a smoke and mirror's act at its finest.
The picture above is very telling. I thank Ghost32 for providing the link to it in my "SHOCKED? Don't Be" article. Then there was a comment from Cassie Smith that seems very telling about those who still have those warm Obama fuzzies. Let me share that with you as we move forward, "As for that picture, all the Obama fainters will now think that he's a violinist and will want to find out where they can buy his musical pieces."
Obama keeps spouting off about "the unemployment rate is falling, the unemployment rate is falling..." On paper it is but un-transparently it is not. In reality it is has been rising rather than falling. There are those who will scratch their noggins and claim that The Frog is lying again but I'm not. But the Bureau of Labor Statistics is, or at least it isn't being transparent with the American public and it smacks of politics as usual. I've talked about this before and many Obama fainters didn't get it then so I'll give it the old college try one more time.
Anyone with a lick of knowledge knows you can make anything go down by manipulating the data to make those statistics say exactly what you want them to say. I learned that trick in a college course called "Statistics & Probability." It's like making poll results say what the pollster wants the outcome to be. It's about smoke and mirrors, not reality.
The claim in July was that the unemployment rate had dropped to 7.4%. The way it was manipulated made that happen, not by more Americans getting jobs and reentering the workforce. Actually the reverse has been happening and the BLS has been keeping that on the hush-hush so as not to alarm the "Fainters" among us. Why put a mask on an economic reality that doesn't exist other than dispense warm fuzzies? The reality doesn't change a bit.
There is a little matter of the labor participation rate and the BLS also keeps that stat. What is it? It is the ratio of the total workforce to total employment-age Americans. In layman's terms it is the total of eligible workers (employment age) in ratio to the total amount of Americans working. That rate should be going up rather than declining as it has been since the advent of the economic crisis. In fact it has been dropping from 66.4% to 63.4%. Now a fainter will say, "That's only 3%." But that 3% is on heck of a lot of discouraged workers who have given up looking for a job. Those folks are NOT counted when reporting the imaginary unemployment rate that the public is fed. That is dangerous policy in the field of economics.
The chart above illustrates visually, for you visual types, exactly what I am pointing out. That decline equates to people in reality, not just a percentage. Some attribute the decline to the rapid rise in people who now receive disability benefits. That figure sits at 8.7 million people, more people than inhabit New York City. Does that give you a warm fuzzy too Fainters? If so, then I suggest you stop fainting and get back in touch with reality.
An underlying problem here is that once a worker goes on disability they aren't likely to reenter the work force. That's called the "one way street syndrome" in economic speak. Even more troubling is the fact that, like any federal program, it is very expensive to maintain.
I'm sure you've heard about those young adults who are having to live in Mom and Dad's basement. That isn't just cracking funny, The Obama administration has made it increasingly easy for young adults to give up looking for work and go on the dole. Once on the dole it becomes harder to get off the dole even if you just consider the psychological factors involved there too. That form of market volatility no economy needs. That number is being masked along the way in the labor participation rate too.
There is also a skills mismatch at work here and in a future Hub I will try to address that subject. But for now lets just remove the mask and look at reality. Lets be transparent even if our government refuses to be.
Need More Visual Proof? U6 Graphic
The closer to reality unemployment/employment rate can be found in the BLS stats that aren't widely reported. That stands at 14%. That's a bit away from 7.4% is it not? Here's how U6 is defined:
"The U6 unemployment rate counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts "marginally attached workers and those working part-time for economic reasons. Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the "marginally attached workers" include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over."
This is info that the Obama administration doesn't find suitable to report to the "Fainters" in our society, The "Fainters," in turn, don't want a healthy serving of reality because they just want their freebies and warm fuzzies. That's okay until we run out of other people's money. What happens then? What they feel entitled to may at that point become what they see as their right. When they find out it's not? They may literally faint...
Share it with your followers here and on Face Book, Tweet It, Pin It and do anything else you can to let people read the truth.
The Frog Prince
PS - Hop on over to my homepage and take a read @ "SHOCKED? Don't be!" if you missed it. Happy Labor Day!
Link To Read Up On Employment Reality And The Real Numbers
- Portal Seven | U6 Unemployment Rate
Check the current and historical U6 unemployment rates in US. This data is available since 1994. The U6 unemployment rate counts not only people without work seeking full-time employment, but also counts marginally attached workers and those working