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The State claims 7.7% unemployment while 89M not in labor force


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Explain something to me.  I offer my job to anyone who says they're unemployed or aren't working.  This happens several times a day.  Not one person has taken the offer in over 10 years.  So what the hell does "Unemployment" even mean?

 

Earlier in the thread we talk about this very topic by taking apart the BLS's definition. Give it a look.

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These unemployment statistics have the same fallacy that crime statistics have. They completely misunderstand the nature of the state.

 

Crime statistics only count private crimes. Not the crimes of the state. Once you factor in the government as an agent of violence than any rational discussion on violence statistics goes out the window.

 

Same with unemployment rates.

Unemployment statistics only count people not working.  It doesn't care whether the work the people are doing is productive or not. Once you factor in the fact that government employees are useless or outright destructive you'd realize the real unemployment rate is not 4 percent, or 6.6% or 7.7%. It's more like 50%.

 

Sorry, but joining the MAFIA doesn't count as being employed.

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At what point do people start to see that the market and economy are not healthy at this point, and by pumping printed/borrowed money into it won't change things?

 

Didn't P. Schiff call this?

 

I don't expect people to come to that realization. The inmates are running the asylum.

 

Peter Schiff has been predicting QE4 for some time, as have several other investors who understand Austrian economics.

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Another thing is that because of Obamacare, -which makes companies pay big additional taxes if they have more than 50 full-time employees-, a lot of businesses have fired full-time workers and hired multiple part-time workers instead. Assuming a worker gets two 20-hour-a-week jobs instead of one 40-hour-a-week job, with the same hourly pay, he is now working a lot more to make the same money because he has to spend time travelling from one job to the other, changing to the appropriate clothes they must wear at each, etc.

 

But another thing that happens is that the US has now become a "job-sharing" country. So if there's only one job available and two workers who want it, instead of one worker having a full-time job, and the other being unemployed, what you get is that the two people each get their share in half of the job, and half of the pay. So both of them count as employed as far as the labor statistics go, but none of them are really bringing home a decent income.

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