The slow implosion of the American economy
- While Comrade Obama gets special credit for the Socialist trashing the economy, many of the downward trends were there to see long before he took office.
Americans are screwed . . . but then again so are the Japanese and Europeans. The American economic trends that have been in action for years are simply being brought to a head by the Bush-Obama bi-partisan Depression and orgy of debt and spending.
Paying People Not to Work - Wealthy societies around the world are paying tens of millions of people to sit around and do nothing. They not only drain money out of the system, they do not pay taxes into the system.
In the U.S. we even pay Americans not to work while importing Hispanic labor to work on farms and in low wage industries.
"Free" Crap for all and Debt - There is not enough money in the world to give everyone all the "free" stuff they feel they are entitled to: free medical care, housing, below market loans, education, welfare, retirement etc. etc.
The list of "needs" is endless, but the money to pay for them ended a long time ago. Now the money printing presses of the world are working full time to expand debt and pay for the free goodies. Just last week the Japanese said they would double their money supply. Hang on and enjoy the ride.
Ever increasing Unemployment - The U.S. and other economies are facing something never seen before: increasing unemployment because there is no need for workers.
In our recent article titled 75% unemployment is coming, I pointed out that a combination of outsourcing, robotics and the Internet is abolishing tens of millions of jobs and taxpayers. Be it book stores, newspapers, video stores, auto workers, bank tellers or tax preparers - the Internet and technology are eliminating jobs faster than they can be created.
With each job lost a taxpayer who supports the Welfare State is also lost. Robots and computers do not pay taxes.
We cannot support the cradle-to-grave Welfare State today. The Fed is printing money 24-7 to cover government spending.
So things just keep getting worse for the American worker, and by implication US economy. We have shown many times before, it pays just as well to sit back and collect disability and various Socialist welfare and entitlement checks, than to work .
The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. But there is little point in looking for work when many of those good paying middle class jobs no longer exist.
This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% – the lowest since 1979!
It is now painfully obvious that the grotesque government propaganda about US unemployment rate “improving” is out in the open for the lie that it is.
People not in labor force:
The number of non-working Americans has increased steadily since 1990.
. Participation in the labor force peaking about the year 2000