The Collapsing U.S. Economy

Do you remember when real reporters existed?  Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother.  The false reality in which Americans live extends into economic life. Last Friday’s employment report was a continuation of a long string of bad news spun into good news.  The media repeats two numbers as if they mean something—the monthly payroll jobs gains and the unemployment rate—and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.

The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks.  The U.3 measure of unemployment only includes the still hopeful who think they will find a job.

The government has a second official measure of unemployment, U.6.  This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year.  This official measure is double the 5.3% U.3 measure.  What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?

In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed.  Clinton wanted his economy to look better than Reagan’s, so he ceased counting the long-term discouraged workers that were part of Reagan’s unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency.

An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression…

http://www.counterpunch.org/2015/08/11/the-collapsing-us-economy/

Related:

While everyone was conveniently distracted by the epic clash of the Titans between Donald Trump and Megyn Kelly, the Bureau of Labor Statistics quietly released its monthly data on workforce participation.

And it’s disastrous for our nation.

You can say this much about the Obama economy, it consistently sets new records. All of them bad.  

The Obama economy has sent healthcare insurance prices skyrocketing, decimated our military preparedness through massive spending slashes, and with 50 million Americans now on the federal food stamp (SNAP) program we’re, at a post-Depression era high. America now has record numbers of children living in poverty and Americans living at or beneath the poverty line. Obama has broadened the income inequality gap, and month-after-month the Obama economy breaks its OWN previous month’s record for workforce participation lows…

http://www.fromthetrenchesworldreport.com/while-everyone-was-distracted-by-megyn-and-donald-obama-was-quietly-doing-this/139321

Layoff Bloodbath Continues

The Obama Jobs Recovery Spin

http://www.zerohedge.com/news/2015-07-07/obama-jobs-recovery-spin-explained-1-cartoon

F-35: The Jet That Ate The Pentagon

Related:

A test pilot has some very, very bad news about the F-35 Joint Strike Fighter. The pricey new stealth jet can’t turn or climb fast enough to hit an enemy plane during a dogfight or to dodge the enemy’s own gunfire, the pilot reported following a day of mock air battles back in January.

“The F-35 was at a distinct energy disadvantage,” the unnamed pilot wrote in a scathing five-page brief that War Is Boring has obtained. The brief is unclassified but is labeled “for official use only.”

The test pilot’s report is the latest evidence of fundamental problems with the design of the F-35 — which, at a total program cost of more than a trillion dollars, is history’s most expensive weapon…

https://medium.com/war-is-boring/test-pilot-admits-the-f-35-can-t-dogfight-cdb9d11a875

How Black Lives Have Mattered In The USA

 A nation that will keep people in slavery for 244 years will “thingify” them – make them things…

— Martin Luther King, Jr. 1967

King Cotton

Black lives have always mattered to white America primarily as a source of economic exploitation. And white American authorities have never been particularly squeamish about killing and maiming Black Americans in defense and advance of that exploitation. Untold millions of Black slaves were tortured and murdered so that Southern tobacco, rice, sugar and cotton planters could extract vast quantities of surplus value from them. As the historian Edward Baptist has recently shown, the violence that was systematically inflicted on Blacks in the forced labor camps of U.S. cotton slavery generated much of the economic surplus that drove the United States’ emergence as a modern capitalist and industrial state before the U.S. Civil War.

After reformist experiments under northern Union Army occupation during the Reconstruction era (1866-1877), Black cotton servitude was resurrected across what became known as the Jim Crow South. The last thing that Black ex-slaves wanted to do after slavery was go back to work under white rule in Southern cotton fields. But, as the historical sociologist Stephen Steinberg noted thirty-four years ago,

“Though the Civil War had ended slavery, the underlying economic functions that slavery had served were unchanged, and a surrogate system of compulsory paid labor developed in its place…ex-slaves…were forced to struggle for survival as wage laborers, sharecroppers, and tenant farmers in southern agriculture. Once again, black paid the price and carried the burden of the nation’s need for cheap and abundant cotton.”

Many thousands of Black Americans died at the hands of white terrorists and authorities, both private and public, to keep Black lives yoked to cotton toiling for a pittance or worse under white owners during the long Jim Crow era.

The Northern Black Proletariat

During and after World War One and through the 1960s, northern industrial firms’ demand for cheap labor (and often enough for strikebreakers) combined with the growing mechanization of Southern cotton farming to push and pull millions of Blacks out of the South to work in giant steel mills, packinghouses, auto-assembly plants and other mass-production facilities in northern cities like Chicago, Detroit, and Pittsburgh. By 1970, nearly half of the nation’s Black population resided north of the Mason-Dixon Line. This Great Migration was a step toward freedom for Black Americans who escaped the open racial terror and formal segregation and political disenfranchisement of the former slave states.

Still, Black lives mattered to northern white capitalists and authorities mainly as a source of cheap, super-exploited labor…

http://www.counterpunch.org/2015/06/12/how-poor-black-lives-matter-to-u-s-capitalism-today/

The book, Slavery By Another Name, is instructive here.

White lives have mattered little more than Black lives to the economic elite.  They were given the illusion that they were/are not niggers by reason of there lack of melanin, witness Jay Gould:

“I can hire one half of the working class to kill the other half.”

Jay Gould
US financier & railroad businessman (1836 – 1892)

http://www.quotationspage.com/quote/33148.html

Recall:

In the labor wars between coal miners (including black coal miners) and the mine owners, the miners often wore red bandanas to signify their union membership or sentiment.  The unionists were referred to as “rednecks.”  So, at a point in time, black people were rednecks.  This was an example of blacks and whites uniting to oppose the 1%.  Salvation, IMHO, is in achieving that union again.  Those rednecks risked all to fight oppression from the mine owners and the government, which was largely controlled (as today) by the 1%…

http://www.jamesrgrangerjr.com/2012/05/15/black-people-were-rednecks-and-we-should-be-proud-of-that-fact/