Tyler Durden over at Zero Hedge notes an interesting fact and draws the logical conclusion:
One of the most peculiar observations of this depression (which) started in December 2007 is that while the total US population has increased by 6.8 million from 303.3 million to just over 310 million in July 2010, over the same 32 month period, the civilian labor force has declined from 153.9 million to 153.6 million…
…the cumulative differential between the labor force as reported, and as calculated has hit an all time record of 3.7 million: this is a number that has to be added to the 7.6 million directly tabulated unemployed to get a sense of just how many jobs have been lost assuming a reversion to the mean for the US economy. In other words, after eliminating the statistical voodoo of the BEA and the Census Bureau, the US has lost just over 11.2 million jobs since the start of the recession…
Which, in turn, means that the job “growth” Obama and Co have been crowing about is really non-existent. Even the BLS report this past Friday that 67,000 private sector jobs were created is just so much fluff – its really just a made up number; an estimate. And its piled on top of other estimates and suppositions and, presto!, we get official government numbers which are increasingly worthless in determining what is going on. Much better, than, to look at hard data – how many people are living here; how many are working; how many used to work here. Taking a look at that and you get a very grim picture.
This is why on the economy the roof is caving in on the Democrats. They can give us all the “recovery summer” propaganda they want and their allies in the MSM can tell us over and over again that things are getting better, but the people know better. I know better – I can see economic catastrophe all around me, as I drive around town. I’m sure any of us can say the same thing.
We can get out of this. Not without pain and not without hard work and sacrifice – but we can get out of this. Unfortunately, standing right in our path to recovery is Obama and his Democrats and their allegiance to worn out, failed Keynesian economic theory…
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