The Bureau of Labor Statistics is reporting that 92,120,000 Americans 16 and older were not only unemployed in June, but did not look for work in the last month. This is up 111,000 from April, which means things are only getting worse. In fact, right now only 62.8% of the country is involved in the labor force.
Before December, the last time the labor force participation rate sank as low as 62.8 percent was in February 1978, when it was also 62.8 percent. At that time, Jimmy Carter was president.
At no time during the presidencies of Ronald Reagan, George H.W. Bush, Bill Clinton or George W. Bush, did such a small percentage of the civilian non-institutional population either hold a job or at least actively seek one.
Meanwhile, the Dow is at 17,000—its highest numbers ever. Some people would like you to believe that this is a good thing, that it means the economy is looking up and everything is fine. They’re either idiots, or they’re lying to you.
“I would categorize it as a fantastic number, and a great transition to earnings season next week,” said David Lyon, a global investment specialist at JP Morgan Private Bank in San Francisco.
Riiiight. Donald Trump, in an appearance on CNN’s Greta Van Susteren’s show, had a different take.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.
“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.” on the situation.
And if that didn’t make you feel warm and fuzzy, here’s one even more disturbing outlook, from the man who predicted the 2006 financial crisis: Richard Wiedener.
In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation…”
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”
All this while the administration imports hundreds of thousands more illegals carrying diseases that this country has never had to deal with and aren’t prepared for. Willful, wanton destruction of this nation. That’s what the administration is after. What are you planning to do about it?