“More Fake Happy News About Jobs”

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U.S. Businesses Warn: The Trade War Is About To Have “Noticeable Effects” On The Economy:

As if the American consumer and U.S.-based businesses haven’t taken the tariffs on the chin already, many business groups are warning that more tariffs will only make the problems in the economy much more noticeable. With 78% of Americans living paycheck to paycheck, the consumer cannot really afford more pricing increases.

Companies say they have weathered the increases so far thanks to careful planning, but are running out of room to maneuver at the same time that President Trump has threatened to escalate the fight by placing new tariffs of up to 25% on $300 billion worth of goods, according to a report by the Washington Examiner. Businesses are simply running out of wiggle room now. Business owners say that some of the effects of the tariffs have been mitigated so far through careful planning methods such as shifting to suppliers outside China, building up inventory by purchasing goods ahead of when the tariffs would go into effect, and cutting costs. But now, those same businesses who prepared have reached the limits of what they can do in those areas.

That means this trade war could hit your wallet even harder in the coming months…

Almost Every Sector of the US Economy Is a Monopoly or an Oligopoly – Crushing the Working Man:

‘Vibrant competition is absolutely essential in order for a capitalist economic system to function effectively. Unfortunately, in the United States today we are witnessing the death of competition in industry after industry as the biggest corporations increasingly gobble up all of their competitors.

John D. Rockefeller famously once said that “competition is a sin”, and he was one of America’s very first oligopolists. According to Google, an oligopoly is “a state of limited competition, in which a market is shared by a small number of producers or sellers”, and that is a perfect description of the current state of affairs in many major industries. In early America, corporations were greatly limited in scope, and in most instances they were only supposed to exist temporarily. But today the largest corporations have become so huge that they literally dominate our entire society, and that is not good for any of us.

Just look at what is happening in the airline industry. When I was growing up, there were literally dozens of airlines, but now four major corporations control everything and they have been making gigantic profits…

AMERICA’S airlines used to be famous for two things: terrible service and worse finances. Today flyers still endure hidden fees, late flights, bruised knees, clapped-out fittings and sub-par food. Yet airlines now make juicy profits. Scheduled passenger airlines reported an after-tax net profit of $15.5bn in 2017, up from $14bn in 2016.

What is true of the airline industry is increasingly true of America’s economy. Profits have risen in most rich countries over the past ten years but the increase has been biggest for American firms. Coupled with an increasing concentration of ownership, this means the fruits of economic growth are being monopolised…

More Fake News About Jobs: Part 2

In response to yesterday’s column, a reader wrote that he had seen a report last Thursday that the House of Representatives has passed a bill to allow unlimited numbers of people from India and China to be granted work visas for US programming jobs. The reader concludes that his job will soon be history and he will disappear into the ranks of the uncounted American unemployed.

When it happens to them, Americans finally understand, regardless of the controlled explanations of The Matrix in which they live, that their government does not ever represent them. It represents profits—the profits of companies that produce profits by lobbying and legislating against Americans.

Assessing this information, the conclusion is that it is a waste of time and money for Americans to learn programming from a US institution. Instead, they should acquire Indian citizenship, get a degree from an Indian university, and apply for a US work visa.

Quote from the follwoing article:

The reason the reported unemployment rate is low is that the millions who have dropped out of the labor force because they cannot find life-sustainable employment are not counted as unemployed. What do these people do? They live with parents or grandparents and they work cash jobs house sitting, walking dogs, cutting grass, and various handyman jobs.

There are many problems with the payroll jobs report, and always are. For example, the July report finds 16,000 new manufacturing jobs, but the manufacturing index weakened for the fourth consecutive month. How do manufacturing jobs rise when manufacturing activity declines?

Another anomaly is the collapse of seven trucking companies this year. If the economy is so good, why has demand declined for transportation to move goods from producers to warehouses and from warehouses to retail outlets?

Americans live in a world in which explanations are controlled. The facts are whatever serves the interests of the ruling elites. Identity Politics serves to keep Americans disunited. We hear far more about “white supremacy” and “misogyny” than we hear about the agendas that control our existence.

“The facts are whatever serves the interests of the ruling elites. Identity Politics serves to keep Americans disunited. We hear far more about “white supremacy” and “misogyny” than we hear about the agendas that control our existence.” Yep, anything to keep the vast madding herd focused on the petty and meaningless, while the real shit, which is about to destroy them and the rest of us, is completely ignored. Welcome to the Red-White-And-Blue Insane Asylum:

More Fake Happy News About Jobs

PAUL CRAIG ROBERTS • AUGUST 2, 2019

The Bureau of Labor Statistics reports that the US economy created 148,000 new private sector jobs during July. The jobs number does not translate into employed people as increasingly Americans hold two or more jobs. For example, the BLS reports that from June to July the number of multiple job holders rose by 233,000 which is 85,000 more than the 148,000 new private sector jobs. What we are seeing is not more people employed, but more multiple job holders. Since May the number of multiple job holders has increased by 534,000. https://www.bls.gov/news.release/empsit.t09.htm

The claim of a falling rate of unemployment over the past decade is inconsistent with the rising labor force participation rate. Normally, when employment prospects are good the labor force participation rate increases. To explain away the inconsistency, economists claim that the decline in the labor force participation rate reflects the increased retirements of the baby boomer generation. However, the BLS reported that the labor force participation rate for older workers of retirement age surged to the highest level in 7 years.

So, what is really going on? The answer is that retired people, thanks to the Federal Reserve’s low to zero interest rate over the last decade, cannot live on their pensions and their savings. They have to take part-time jobs to make ends meet. Younger people, however, cannot form independent households on the basis of part-time jobs, and as they have no pension income to supplement the meager pay of a part-time job, have dropped out of the work force.

The reason the reported unemployment rate is low is that the millions who have dropped out of the labor force because they cannot find life-sustainable employment are not counted as unemployed. What do these people do? They live with parents or grandparents and they work cash jobs house sitting, walking dogs, cutting grass, and various handyman jobs.

There are many problems with the payroll jobs report, and always are. For example, the July report finds 16,000 new manufacturing jobs, but the manufacturing index weakened for the fourth consecutive month. How do manufacturing jobs rise when manufacturing activity declines?

Another anomaly is the collapse of seven trucking companies this year. If the economy is so good, why has demand declined for transportation to move goods from producers to warehouses and from warehouses to retail outlets?

Americans live in a world in which explanations are controlled. The facts are whatever serves the interests of the ruling elites. Identity Politics serves to keep Americans disunited. We hear far more about “white supremacy” and “misogyny” than we hear about the agendas that control our existence.

(Republished from PaulCraigRoberts.org by permission of author or representative)

Source: More Fake Happy News About Jobs