An ideology based on inequality, injustice, exploitation, militarism, and imperial wars eventually self-destructs or gets pushed.
This is real in the West, and we all know it.
On May 4, the Labor Department reported 115,000 new jobs. It way overstated the true number. Official figures belie the dire state of things. At most, two-thirds the headline total were created. Even that's in doubt.
For over 300 million American citizens 115,000 new jobs. Yes may be people living around the 1 million or so rich people in US got some jobs init? cheeky!
Most were low-pay, part-time, or temp positions with few or no benefits. Decades ago, workers would have avoided them. Today, there's no choice.land of happiness.
At 63.6%, America's labor force hit its lowest level since September 1981. Since then, population totals grew from 229 million to about 312 million today. The state of the nation today reflects lots of people facing few jobs, and no policy to create them.
The employment/population ratio stands at 58.4%. Alone, it represents a shocking testimony to failure. So do other data. Long-term unemployment remains near record levels. Credit deleveraging continues. Housing's in its worst ever depression. Prices keep falling. Inventories of unsold homes are huge. Foreclosures are at epidemic levels.and further on:
As Fed chairman for nearly two decades (1987 - 2006), he engineered today's crisis. Some call him the Maestro of Misery for good reason. Those benefitting most sing his praises. In 2008, he had second thoughts.
A longtime Ayn Rand disciple, he strayed noticeably in October 2008 House testimony. Her libertarian views influenced his. She championed regulatory free markets. So did Greenspan. He practiced what she preached.
Long live Greenspan! Ouch Ayn!
I am a selfish person. If you cannot find the links in this blog, I have majority of them filed, Email me!
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