How the Government Creates Jobs
"Our government "prints up jobs out of thin air" the same way the Federal Reserve prints up money. To manufacture jobs, The Bureau of Labor Statistics uses their very own Net Birth/Death computer model."
Our elected officials and Wall Street executives all have a vested interest in keeping the perception of a robust economy alive. The employment data announced each month is critical to this perception, but a thorough analysis of the data suggests something quite different that what we are told.
Since 9/11, 60 percent of job creation has related almost directly to the housing boom and consumer spending, generated from home equity extraction through mortgage refinance. Remember, the Federal Reserve cut interest rates to one percent and kicked off the greatest housing bubble of all time. The housing boom created an America with over 1,200,000 real estate agents, and hundreds of thousands of jobs in the mortgage and home construction industry.
On the surface, the job market looks sound and Wall Street bulls take every opportunity to reinforce this belief whenever low initial unemployment claims are announced. But common sense tells me there is something brewing below the surface and this housing bust will have an even bigger impact on our economy, than previously suggested, by reducing employment and consumer spending, in a big way.
(The officially reported governmental statistics fail to note that a very high percentage of new jobs created in the past few years were commission-only jobs, or jobs with independent contractor status. Workers categorized as independent contractors are not eligible for unemployment benefits. This means all of the real estate agents who haven't made a sale, along with the mortgage bankers who no longer have a company to bring their loans to, will not be filing for unemployment, even though they haven't made a dime. The Department of Labor Statistics, however, continues to view these unemployed and vastly under-employed workers as holding full- time jobs.) continued →
Our elected officials and Wall Street executives all have a vested interest in keeping the perception of a robust economy alive. The employment data announced each month is critical to this perception, but a thorough analysis of the data suggests something quite different that what we are told.
Since 9/11, 60 percent of job creation has related almost directly to the housing boom and consumer spending, generated from home equity extraction through mortgage refinance. Remember, the Federal Reserve cut interest rates to one percent and kicked off the greatest housing bubble of all time. The housing boom created an America with over 1,200,000 real estate agents, and hundreds of thousands of jobs in the mortgage and home construction industry.
On the surface, the job market looks sound and Wall Street bulls take every opportunity to reinforce this belief whenever low initial unemployment claims are announced. But common sense tells me there is something brewing below the surface and this housing bust will have an even bigger impact on our economy, than previously suggested, by reducing employment and consumer spending, in a big way.
(The officially reported governmental statistics fail to note that a very high percentage of new jobs created in the past few years were commission-only jobs, or jobs with independent contractor status. Workers categorized as independent contractors are not eligible for unemployment benefits. This means all of the real estate agents who haven't made a sale, along with the mortgage bankers who no longer have a company to bring their loans to, will not be filing for unemployment, even though they haven't made a dime. The Department of Labor Statistics, however, continues to view these unemployed and vastly under-employed workers as holding full- time jobs.) continued →
posted by 911truthnc at 7:23 AM
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