October 6, 2012
It probably should not shock anyone that unemployment magically dropped to 7.8%. If you think that is interesting, wait until the first Friday in November when unemployment is magically going to drop to below 7.5%.
What are the real unemployment numbers and what does it mean?
First, I predicted some months ago that right before the election, the numbers would magically drop in Obama’s favor. The hard cold fact is no president in the modern era has been reelected with unemployment over 7.1%. Obama and his team know that if they can get unemployment down to 7.5%, they have a chance.
Did unemployment really drop?
If you believe it did, you believe that Obama really wants to cut spending. You believe he really has America’s best interests at heart. And if you believe that, I have ocean front property in Tennessee to sell you.
The unemployment number is what is referred to as the U3 number. I like to call this the cook the books number. It means nothing.
The real number is the U6 number. The U6 number is the aggregate of all of the people who are not working. U6 is the real number and it is 14.7%. These are unemployment levels that reflect the economy. These are numbers worthy of the Great Depression. This is why I refer to our economy as the Great Obama Depression.
Another true factor to look at is work force participation. The labor force participation is at 63.6%. That means that only 63.6% of adult Americans are in the work force. The all time low, hit last month, was 63.5%. These are not the numbers you will hear about from the Obama Propaganda Media.
To put this in perspective, the U6 was 8.0 percent the last time Republicans controlled the government. The U3 was at 4.6%.
In September, allegedly 114,000 jobs were created. Compare this to the 300,000 jobs created per month, which was a norm during the Bush years. If the labor force were still the size it was when Obama took office, unemployment would be 10.7%.
In short, Obama has destroyed our jobs market and our economy. It is the equivalent of an obese patient losing weight because they are dying. Yes the scale is moving in the right direction, but the disease is killing the patient.
I’m willing to go out on a limb here with a few predictions. First, the propaganda media will be beside themselves tonight. They will report throughout the weekend how much better the economy is doing. They will ignore the economic bad news.
Second, in a couple of weeks, we will get the revised figures on the jobs report. And it will be not nearly as rosy as the Obama Regime is telling us it is today. The media will bury that story. This is a habit with both the Regime and the media. When the jobs numbers are revised in the middle of the month, and the news from those revisions is always bad, the media ignores the story.
The only reason there is even a flicker in the economy right now is the creative accounting from the Obama Regime.
My friends over at Breitbart.com like to refer to the media as the Palace Guards for Obama. You can expect more protection for Obama from his Palace Guards.
What you will not get from the media is the truth.