Are we living in a Banana Republic, where the media covers up for a tin pot dictator named Obama?
The economy is a disastrous mess. But you wouldn’t know it from the headlines released by the mainstream media. For instance, take the jobs report that came out on Friday. This could be the biggest case of fraud and misrepresentation since…Obamacare.
Let’s pick Friday’s jobs report apart, piece by piece.
First, the headlines in most every newspaper in the country reported the “great news” of 223,000 jobs created. No one mentioned that this number was below expectations and therefore a disappointment.
No one mentioned that the stock market went up in response to this BAD news, because Wall Street analysts now expect the Federal Reserve to keep interest rates at zero (in response to such bad news). In other words bad news is great news on Wall Street. Instead the media simply reported that the stock market went up, leaving average Americans to think it was in response to good news about jobs.
Second, while the headline screamed about 223,000 new jobs created, it never mentioned that last month’s jobs figure was revised downward by over 30%. Yes I said THIRTY PERCENT from 126,000 new jobs to 85,000.
If the media was doing its job, they’d ask why anyone should believe this month’s figure? Why should we not assume a 30% downward revision next month? If so 220,000 jobs would be revised down to only 160,000- a disastrous disappointment.
The third lie is “the mother of all fraud.” How did the government arrive at that figure of 223,000 new jobs created? It was composed of 252,000 full-time jobs LOST and 437,000 part-time jobs gained.
Did you know that? Of course not. Because the media never reported it. Tell me what’s good news about 252,000 full-time jobs being eliminated, while they are replaced by 440,000 horrible low-wage part-time jobs (the kind that cannot feed a traditional family without food stamps)?
By the way, those 252,000 full-time jobs lost were the biggest drop in full-time jobs in a year. How is this reported as “good news?” How is this reported as proof of a “recovery?” Why aren’t they reporting the prospects of getting a full-time job have declined dramatically from one year ago?
Also why is there no investigation by the mainstream media about why we are so quickly transforming into a low-wage, part-time economy? Because the media is afraid of the obvious answer: Obamacare. I’ve seen no headlines reporting on the results of Federal Reserve Bank surveys in Philadelphia, New York and Atlanta all finding that in response to Obamacare, few if any full-time jobs are being created, part-time jobs are the norm, and higher costs for health insurance are being passed onto employees.
There it is. Two mysteries are solved at once. This is why we see only part-time jobs being created and why consumer spending is weak despite lower gas prices. Obamacare is wrecking the economy. Who says so? The Fed. Who did they ask? The only people whose opinions matter- employers.
Lastly, how can the media justify touting 223,000 jobs created, without mentioning that in the same month we hit a record low for Americans NOT in the labor force? 93,194,000 of our fellow citizens of working age are not working. That’s the record for the most-ever not working.
You mean this stat isn’t significant enough to mention? Yes, unemployment is going down. The reason is clear- people are dropping out of the workforce and either living on welfare, food stamps, disability, or if they’re lucky enough to be older, they’re going straight to Social Security and Medicare (meaning they’ll never work again). No country can survive this kind of entitlement burden. Under Obama a majority of the country is surviving on a government check of some kind.
Recovery? Good jobs report? Folks this is a slow motion disaster. But the mainstream media refuses to tell the truth. In the private sector that’s called fraud.
Wayne Allyn Root is a former Libertarian Vice Presidential nominee, successful entrepreneur, small business defender, business speaker, Capital Evangelist, and conservative media personality – appearing on over 5,000 interviews in the past five years. Wayne’s latest book is: “The Murder of the Middle Class.” Wayne’s website is ROOTforAmerica.com.