Confused Commentary by Reb Akiva @ Mystical Paths
WSJ - WASHINGTON -- The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may be losing momentum.
Lost jobs but the unemployment rate is unchanged? 10 – 3 = 10 ??? Did the physical properties of the universe change while I wasn’t looking?
Economic recovery may be losing momentum? Losing jobs is “may” be losing momentum? If losing jobs isn’t a sign of economic trouble, what is?
Nonfarm payrolls fell by 131,000 last month as the rise in private-sector employment was not enough to make up for the government jobs lost, the U.S. Labor Department said Friday…
The June data was revised down significantly. Payrolls fell 221,000 that month, more than the 125,000 drop previously reported, as only 31,000 jobs were added in the private sector.
So, in June the U.S. economy lost 221,000 jobs though the government previously said jobs were added. In July the U.S. economy lost 131,000 jobs, as fake government stimulus jobs are not sustainable employment.
Time to break out the economic terminology from the late ‘70’s:
- Jobless recovery : Meaning we’re going to tell you things are growing but it’s not actually helping anyone…but us).
- Stagflation : Increasing prices with no increase in incomes.
- Misery Index : Real impact to people of joblessness, loss of earning power, and increasing prices.
But not to worry, our government is busy adding new regulations and taxes as fast as possible to assist in the recovery. What, it doesn’t work like that?
- Overregulation :
Oregon Live - Multnomah County shut down an enterprise last week for operating without a license. You might just sigh and say, there they go again. Except this entrepreneur was a 7-year-old named Julie Murphy. Her business was a lemonade stand at the Last Thursday monthly art fair in Northeast Portland. The government regulation she violated? Failing to get a $120 temporary restaurant license. Turns out that kids' lemonade stands -- those constants of summertime -- are supposed to get a permit in Oregon even if in a front yard or at a block party.
A government inspector said, “When you … set up shop, you're suddenly engaging in commerce," he said. "The fact that you're small-scale I don't think is relevant."
The government doesn’t create business and doesn’t create jobs. It does set the conditions for how easy or hard it is to start, expand, and operate a business. It’s pretty clear the U.S. government (and most states and localities) haven’t yet figured out that they’re impacting YOUR lives. And not in a positive way.