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It was just a few days ago (12 February) that I wrote about the potential impact of the allegedly declining unemployment rate in the U.S. in a story entitled “Beware of Bullard’s Bubble Bulletin.” In a nutshell, Bullard, the President of the St. Louis Fed had expressed his concern that the Federal Reserve Bank may have to address the issue of raising interest rates based on their established 6.5% threshold. The rate for January was 6.6%.
I also explained the fallacy of the U.S. unemployment rate, in that it does not accurately reflect the number of unemployed and that it was never intended to be used for the purpose that it is now – Just like so many other reports are misused by the U.S. government.
Now, I want to follow up with actual numbers from – guess where. You’ve got it. The St. Louis Fed: Mr. Bullard’s balliwick – and Janet Yellin’s up until 2014. Take a look at the charts below to see the TRUE STORY. While you are looking, keep in mind that Barack Obama was elected in 2008 and assumed office in January 2009. How can we believe him when he said that the U.S. has “The lowest unemployment rate in over five years” in his State of the Union Address?
The truth is that only slightly more than 58% of Americans are employed. The massive drop in the employment rate began with Obama’s presidency and has continue unabated. If Obama is not lying, he is either dyslexic or just plain incompetent. Possibly both.
Take a close look at where January 2008 intersect the number of people no longer in the labor force since 2008. Zerohedge.com calls this “the jobless, laborless recovery.” I say that people are blind to reality, accepting whatever the president wants them to hear.
The final chart was published in the Huffington Post on 28 January following the State of the Union charade. It shows the number of employed Americans sliding like an avalanche each year that Obama has been in office through March 2013. It is obvious, in combination with the first two charts, that the trend is continuing toward potential, unrecoverable disaster. America and the world are being deceived. Wake up, people. This is reality.
