The Federal Reserve designed 2008 economic takedown is now claiming millions of victims. It is eroding the middle class and slowly turning the United States into a second rank country working its way toward third world status.
In June of 2009, the government announced the economy had entered a recovery after a historical looting by a cartel of international banksters led by the Fed and the Treasury.
It's turns out to be a McRecovery.
We must stop the 'Red Ink Spending' NOW! Calling on the Tea Party To Stop the Washington Madness! Send a powerful Fax Blast to all 100 Senators and all 435 Members of the House of Representative, today!
The Labor Department announced today the private sector has created jobs at the fastest pace since 2006. "Nonfarm payrolls rose 244,000 last month, the most in 11 months, the Labor Department said on Friday. The private sector accounted for all of the job gains last month, with payrolls rising 268,000, the largest rise since February 2006," reports CNBC.
According to the data, McDonald's was responsible for the modest gain. "McDonald's and its franchisees hired 62,000 people in the United States after receiving more than 1 million applications," the Star Tribune reports.
Employment at service-providers rose 200,000 in April after a 184,000 gain the prior month, according to Bloomberg.
Service providers like McDonald's, not decent paying factory or even office jobs. Factory jobs were long ago exported to slave labor gulags in China and Asia. India now absorbs everything from programming and engineering jobs to telemarketing and customer service.
Burger flipping represents economic growth for Bernanke and the Federal Reserve. "The labor market is improving gradually," Bernanke told reporters during the first-ever press conference following a Federal Open Market Committee meeting. "We would like to make sure that that is sustainable. The longer it goes on, the more confident we are."
From The Daily Ticker:
- There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.
- At the current pace of job creation, the economy won't return to full employment until 2018.
- Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.
- Middle-income jobs have been replaced by low-income jobs, which now make up 41% of total employment.
- 17 million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor's degree.
- Over the past year, nominal wages grew only 1.7% while all consumer prices, including food and energy, increased by 2.7%.
- Wages and salaries have fallen from 60% of personal income in 1980 to 51% in 2010. Government transfers have risen from 11.7% of personal income in 1980 to 18.4% in 2010, a post-war high.
High unemployment and the restructuring of the labor market under corporatist globalism have eroded middle-class incomes after decades of stagnation, explains the New America Foundation. Meanwhile, the cost of health care, education, and other essential middle-class goods have increased, consuming a larger share of household income and driving millions to the poor house.
None of this is a mistake or the result of government incompetence. Since its inception in 1913, the Federal Reserve has slowly but methodically destroyed the American middle class by printing money and deliberately creating inflation.
"Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve's inflationary policies. This represents a real, if hidden, tax imposed on the American people," Ron Paul notes. "The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts."
Despite the addition of McJobs reported today, the economy continued its slow decline. "The Labor Department reported the jobless rate climbed to 9.0 percent in April from 8.8 percent in March and 244,000 nonfarm jobs were added to the world's largest economy," reports AFP.
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9.0 percent, of course, is way off the mark. According to the SGS Alternate Unemployment Rate based on alternate data, the real unemployment rate is well over 20 percent and closing in on Great Depression era levels.
http://www.teaparty.org/article.php?id=702 Kurt Nimmo Friday, May 6, 2011
24 Signs of U.S. Economic Decline - Under Obama, Is It Twilight in America
Paraphrasing Ronald Reagan's famous image, is it time we begin asking if under the leadership of Barack Obama, it has become twilight in America?
-Standard & Poor's altered its outlook on U.S. government debt from "stable" to "negative";
-China has announced they are going to be reducing their holdings of U.S. dollars;
-Hedge fund manager Dennis Gartman says that "panic dollar selling is setting in" and that the U.S. dollar could be in for a huge decline;
-The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds;
-The economy is causing "ghost towns" to appear across the United States, with many counties across the nation that now have home vacancy rates of over 50 percent;
The Tea Party MUST Step In And End The Red Ink Spending
Send A Powerful Fax to all 100 Senators and 435 Members of the House
Will Read!
-There are now about 7.25 million fewer jobs in America than when the recession began back in 2007;
-Only 45.4 percent of Americans had a job during 2010, the lowest percentage since 1983;
-Only 66.8 percent of American men had a job last year, the lowest level ever in the United States;
-The average CEO made 343 times more money than the average American did last year;
-Gas prices reached five dollars per gallon at a gas station in Washington, D.C., on April 19, 2011;
-Over the past 12 months, the average price of gasoline in the United States has gone up about 30 percent;
-Due to rising fuel prices, American Airlines lost $436 million during the first quarter of 2011;
-U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes;
-Approximately one out of every four dollars that the U.S. government borrows goes to pay the interest on the national debt;
-Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago;
-Total credit card debt in the United States is now more than 8 times larger than it was just 30 years ago;
-Average household debt in the United States has now reached a level of 136 percent of average household income, while in China it's only 17 percent;
-The average American now spends 23 percent of their income on food and gas;
-78 percent of Americans said they plan to slow their spending in coming months due to rising prices;
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-59 percent of Americans receive money from the federal government;
-The average length of unemployment in the United States is now a record 39 weeks;
-As the economy continues to collapse, frustration among young people will continue to grow and we will see more seemingly "random acts of violence";
-Some Americans have become so desperate for cash that they are literally popping their gold teeth and selling them to pawn shops;
-As the economy has declined, the American people have been gobbling up larger and larger amounts of antidepressants and other prescription drugs;
Even the latest market rally could be ending. These economic warning signs should give President Obama pause on his re-election campaign.
Voters going to the polls in 2012 are certain to ask whether they are better off economically than they were 4 years ago, and the answer is likely to be "No" in millions of cases.
Source: Business Insider http://www.teaparty.org/article.php?id=633 listed 25 signs of economic decline in the United States.
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By Dr. Michael Savage Pages 18 through 24 and the rest of the book!
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