The US economy is a house of cards. Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics. – Dr. Paul Craig Roberts
While mainstream America will be greeted with news about the huge number of new jobs “created” in April, the truth is that the number of people employed in this country declined in April – by a significant amount.
I’m not going to go through the brain damage of dissecting the numbers other than report the fact that the Labor Force declined by 806,000. Most of that number is likely people who fell off the cliff of long-term jobless benefits. The labor force participation rate is now below 63%. The last time it was this low was March 1978. This graph shows the “Civilian Labor Force Participation Rate,” which is the number of people employed plus the number of people considered “unemployed” as a percentage of the size of “working age” population.
In addition to nearly one million people “disappearing” from the labor force, the Government’s nefariously fraudulent “birth/death” model plugged 234,000 jobs into its statistical model.
Given the natural monthly growth of the population in this country, and given that over a million workers either disappeared down the rabbit hole or were fabricated by the Government statisticians, it is likely that April in actuality experienced a big decline in jobs. But the Government would never admit to that.
At least we can see from the reaction to the number in the markets that the stock market and the gold/silver market do not believe the report. Initially the S&P 500 futures spiked up and gold and silver were trashed. Now, as I write this, the SPX futures are red – down 9 points from the apex of their spike – and gold and silver have snapped back to resume the rally in the metals that started overnight.
I think that’s all you need to know about the number.
The thick smoke of Orwellian lies billowing out of Washington, DC – i.e. the White House, Capitol Hill and the Federal Reserve – has become so noxiously thick that it leads me to believe that the House of Cards referred to as “the United States” is getting close to being blown away.