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James Quinn
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James Quinn is a senior director of strategic planning for a major university. James has held financial positions with a retailer, homebuilder and university in his 25-year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and... More
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  • ALL IS WELL!!! 3 comments
    Feb 7, 2013 2:44 AM

    "Facts do not cease to exist because they are ignored." - Aldous Huxley

    I woke up this past Saturday morning and opened my local paper to find out that all was well. An Associated Press article declared a healthy jobs market, fantastic auto sales, a surging housing market, and a stock market rocketing to new all-time highs. What's not to love? If the mainstream media says the economy is as good as new, it must be so. Why should we let facts get in the way of a good storyline? The stock market has surged to 2007 highs, so the country's employment situation must be strong.

    (click to enlarge)

    The chart above tells a slightly different story. The S&P 500 has regained almost all its losses since October 2007 as Bernanke and Washington politicians chose to save Wall Street and screw over Main Street. The working age population has risen by 12.8 million since 2007 and there are 4 million less Americans employed. The December Household Survey from the BLS being touted by the mainstream media as proof of a jobs recovery told a slightly different story:

    • The number of unemployed Americans went up by 126,000 in one month
    • Another 169,000 Americans left the workforce evidently because their stock market gains made them wealthy.
    • There are 250,000 more Americans unemployed than there were in September 2012.
    • There are 6,000 less Americans employed than there were in October 2012.
    • The unemployment rate reported to the masses went up to 7.9% (the true rate reached 23%).

    This is just the picture over the last few months. The picture since 2007 is beyond horrific, as more than 10 million Americans have left the workforce. Everyone knows people willingly leave the labor force when the economy crashes and their net worth is reduced by 30%. Who needs a paying job then? Just because there are 101 million working age Americans not working and the labor participation rate of 63.6% is at a three decade low, certainly doesn't mean we aren't experiencing a tremendous jobs recovery, according to the mainstream media.



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Comments (3)
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  • Michael Clark
    , contributor
    Comments (12006) | Send Message
    It's refreshing to read your blog. Nice to see someone who is not obedient to the Government-Speak.
    7 Feb 2013, 03:11 AM Reply Like
  • Shlomo Wiesen
    , contributor
    Comments (224) | Send Message
    great post- very honest and sobering
    7 Feb 2013, 03:19 AM Reply Like
  • The_Hammer
    , contributor
    Comments (5152) | Send Message
    Mad bernank ramping up asset inflation policies again. It's the wealth effect. enjoy while it lasts.
    7 Feb 2013, 07:23 AM Reply Like
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