Real Unemployment at 23% - Dampening the Excitement
By Michael Collins
There was a shadow over the national conventions of both political parties. The people know that the economy is much worse than anyone in the power structure will admit. As usual, the people are right. The real rate of unemployment is 23%, not the official figures we hear on a regular basis. The 23% figure represents all of those unemployed no matter how long, the involuntarily under employed (part time), and those who have given up looking, the discouraged, due to an chronically arid job market. If either wing of The Money Party, Democratic or Republican, admits to the the real unemployment situation, they would be forced to admit a complete system failure and compelled to act now. There would be no choice but to drop the nonsense about austerity and balanced budgets.
Here is how the fantasy of the official unemployment figure works.
Official unemployment includes those who are both unemployed during the week of the Bureau of Labor Statistics (BLS) survey and without a job for the prior four weeks.
The official unemployment number we see excludes those marginally attached to the labor force, discouraged workers, and those working part time due to the absence of full time work. The Alternative unemployment statistic is always higher than the official version. It includes most of the unemployed but excludes discouraged workers after twelve months without a job (See Appendix). In the chart above, you will see the official government unemployment number (U-3), the alternative number (U-6), and the shadowstats.com figure, which includes U-3 and U-6 plus all those unemployed who have given up. That represents 23% of the work force. (Graph Courtesy of Shadowstats.Com Shadow Government Statistics - John Williams)
PermalinkAusterity, Adjustment, and Social Genocide: Political Language and the European Debt Crisis
By: Andrew Gavin Marshall
Angela Merkel, Jose Manuel Barroso, and Mario Monti: Europe’s champions
of austerity and adjustment
The following is a sample analysis from my upcoming book on the global economic crisis and global resistance movements. Please consider donating to The People’s Book Project to help support the effort to finish this book.
Political language… is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.
- George Orwell, “Politics and the English Language,” 1946
Political language functions through euphemism, by employing soft-sounding or simply meaningless words to describe otherwise monstrous and vicious policies and objectives. In the European debt crisis, political language employed by politicians, economists, technocrats and bankers is designed to make policies which create poverty and exploitation appear to be logical and reasonable. The language employed includes the words and phrases: fiscal austerity/consolidation, structural adjustment/reform, labour flexibility, competitiveness, and growth. To understand political language, one must translate it. This requires four steps: first, you look at the rhetoric itself as inherently meaningless; second, you examine the policies that are taken; third, you look at the effects of the policies. Finally, if the effects do not match the rhetoric, yet the same policies are pursued time and time again, one must translate the effects as the truemeaning of the rhetoric. Thus, the rhetoric has meaning, but not at face value.
Greece: What Can be Done?
James Petras
Introduction
Greece faces the unenviable choice between accepting the terms of “the Troika” and facing the continuation and deepening of a socio-economic crises, which includes five years of negative growth, over 23% unemployment, an astronomical rise in poverty (from less than 15% to over 40%) and mounting suicides, or a rejection of the “memorandum”, and a likely cut-off of Eurozone funding and capital markets with virtually few reserves to cover salaries, pensions or public services.
While the immediate cost of a break with catastrophic conditions imposed by Eurozone bankers may be high, it opens up the possibility of transforming the internal and external relations and structures which led Greece to ground zero.
Crises as Opportunity?
Rude Awakening
by Stephen Lendman
In 2008, a protracted global depression began, criminally manufactured by Wall Street and Washington scoundrels, complicit with major European partners.
Why? To permit greater financial and other corporate consolidation, more power, and ability to buy favored assets cheap, profiting hugely at the expense of millions of working households.
At the same time, Washington's got it own agenda. As White House chief of staff, Rahm Emanuel (now Chicago's mayor) told the Wall Street Journal on November 6, 2008:
PASOK: Pan Hellenic Socialist Kleptocrats
James Petras
“George Papandreou is not bought, he is rented. He sells public enterprises to the multinationals. He reduces wages, pensions and employment at the behest of the IMF. He turns over the public treasury to the European banks. He supports NATO’s war against Libya. He directs the Greek Coast Guard to enforce Netanyahu’s blockade of Gaza.” - According to a demonstrator in Syndigma Square, Athens, July 3, 2011
Introduction
A self-proclaimed “Socialist” Government in Greece is imposing by ballots and clubs the most far reaching reversals of wages, pensions, jobs, educational, health and tax programs in the history of Western Europe.
Republican Plan to End Social Security, Medicare and Medicaid
by Stephen Lendman
Public rhetoric obscures important facts about these plans politicians won't discuss in their zeal to end them incrementally.
Medicaid is welfare for low-income beneficiaries, jointly funded by the states and Washington, managed at the state level.
Social Security and Medicare are insurance programs, funded by worker-employer payroll tax deductions. They're contractual federal obligations to eligible recipients who qualify. However, you'd never know it the way both programs are publicly discussed, explaining everything but the truth.
On August 14, 1935, the Social Security Act became law, known as the federal Old-Age, Survivors, and Disability Insurance program (OASDI). It provides retirement, disability, survivorship, and death benefits. It's still America's most effective poverty reduction program that's worked remarkably well since inception. It exists to provide secure inflation-adjusted retirement or disability income, unlike risking personal savings to create private wealth and perhaps lose it.
‘Global Economic Crisis’ exposes plans for a global military dictatorship
By Rady Ananda
Review of: The Global Economic Crisis: The Great Depression of the XXI Century
Editors, Michel Chossudovsky and Andrew Gavin Marshall
Publisher: Global Research, 2010 (391 pp)
There’s a certain irony to my reading this book while waiting at the Food Stamp office. I’m part of an increasing number suffering under the New World Order’s systematic destruction of the planet’s middle classes so as to concentrate wealth in the hands of fewer and fewer families. While global uprisings now threaten global governance under a single currency, scheming rulers have long anticipated this reaction. In The Global Economic Crisis, we learn exactly how a planet-wide military dictatorship plans to enforce its feudal vision.
Neatly organized into five sections comprising 20 essays by fifteen different authors, Global Economic Crisis carefully ties militarization with the planned economic meltdown. Client states and the U.S. itself have openly and sometimes secretly developed the legal framework for martial law. Testifying before a US Senate committee on Intelligence in early 2009, Obama’s Director of National Intelligence, Dennis Blair, warned that civil unrest owing to the economic collapse posed a greater threat than Arab terrorism. One of the book’s essayists, Bill Van Auken, points out that this is the first time in several years that Al Qaeda did not top the list of threats to national security.
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