86 Million Americans are Supporting a Whopping 317 Million People.

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McClatchy-Marist Poll: American dream seen as out of reach

By David Lightman
McClatchy Washington BureauFebruary 13, 2014 Updated 23 hours ago
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US NEWS BLACKFRIDAY 8 LA

WASHINGTON — Racing into a new century in which many of the old rules don’t seem to apply anymore, Americans are overwhelmingly pessimistic about their chances of achieving and sustaining the American dream, according to a new Marist-McClatchy Poll.
They see an economic system in which they have to work harder than ever to get ahead, and a political system that’s unresponsive to their needs.

Eight out of 10 Americans think it’s harder now than before, taking more effort to get ahead than it did for previous generations. Just 15 percent think it takes the same work as it did before, and a scant 5 percent think it’s easier now.

And Americans don’t think it will get better soon, with 78 percent thinking it also will be harder for the next generation to get ahead.

The findings underscore the landscape at a time when the economy and the country are being fundamentally changed by waves of globalization and new technology, and as Americans struggle to see a better path forward and their politicians grapple over how to help.

President Barack Obama speaks frequently about pushes for a higher minimum wage and health care subsidies, as well as programs to help people find new skills, at the same time he pushes free trade, which is to blame for an exodus of jobs to lower-paying foreign factories.
Looking at work, Americans think by 75-22 percent that U.S. corporations make stockholders their top priority, over their employees.

Looking at their own lives, most people consider themselves middle class. Eighty-six percent of those polled identified themselves that way, with 14 percent calling themselves upper middle class, 50 percent saying middle class and 22 percent saying lower middle class.

Most think the middle class is hurt most by government policies. Fifty-five percent think the middle class is most likely to be left behind by those actions, while another 40 percent said the poor would be hurt the most.

The findings come as the nation and the federal government struggle with Obama”s Ideology of Redistribution from the Middleclass to third world countries.

Officially, the deep recession that began in December 2007 has been over since mid-2009,  smiley-laughing001

Seventy-two percent of those who earn less than $50,000 a year felt that way, and 66 percent of those who earn more agreed. So did 63 percent of 18- to 29-year olds, and 71 percent of those 60 and older.

 obama’s economy:

What’s happening here?

“To fix the unemployment rate, a government basically has two big options: create jobs, or change the definition of what unemployment is.

What did our government do?
You guessed it. They changed the way unemployment rate is calculated…and redefined unemployment as “number of Americans receiving unemployment benefits”.Stopped receiving benefits?

It doesn’t matter that you haven’t had a job since Clinton..in the state’s eyes, you’re NOT unemployed. But when you use way the government calculated unemployment rates before the 1990s, the shocking rate is 24%… far more than during the Great Depression.
There are more than 101 million working-aged Americans unemployed. That’s the entire population of Texas, California, New York, Florida, Illinois, Pennsylvania the 6 most populous states here in the US – combined.

People who cannot contribute to the economy, who don’t have enough money to buy goods, and who, in a crisis, will probably be the first ones to flood the streets.
Count the rest of the population who is either too young or too old to work…and you’ll be shocked to discover that

This means that the average American worker has to carry 4 people on his back and even this number is bound to grow.”
The average American family makes $51,017 a year and $8,500 of it…or 17% goes to healthcare.
According to data from the U.S. Government’s very own healthcare reporting bureau, healthcare costs will almost double under Obamacare.

1988 Spending Per Family $2,000

2013 $8,500 Healthcare Spending Per Family

2014 Healthcare Spending Per Family $15,950

But under Obamacare, costs will double according to data from the U.S. Government’s very own healthcare reporting bureau.

But here’s the kicker:
According to Foxnews, 76% of American families ALREADY live paycheck to paycheck. For them, adding even $100 to monthly costs would be disastrous.
Under Obamacare, yearly costs would go up an aditional $7450!

The government gets its funding from working class taxpayers but when those who pay taxes can’t even pay their own bills the government will collapse under its own weight.

The government will collapse under its own weight. The government also won’t be able to get money it needs from taxing businesses because 90% of all companies in the US are dependent on selling goods to the working class.

And when the backbone of the US economy vanishes into thin air you’ll see the greatest string of corporate bankruptcies in the United States.

As banks close down, your life savings will evaporate. But the most dangerous part of this is that this collapse will happen out of the blue and many Americans will be caught unaware. In a day or two…they’ll realize the serious implications.

Hillary more of the same

 

 

More “Economic Lies” from “Our” Government: The Latest US Jobs Report

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By Dr. Paul Craig Roberts

The US government is consistently destroying Washington’s credibility both with its own citizens and the rest of the world.

Russia and China, the other two significant nuclear powers, no longer believe anything Washington says or any agreement that the US government signs. The Russian and Chinese governments have observed that Washington does not obey its own statutory law, much less international law and treaties that Washington has signed. Russian President Vladimir Putin has criticized Washington for acting as if its will was the only law.

Europeans know that they and their governments are Washington’s vassals and that Europeans are impotent to do anything about it. Some percentage of the 99 percent understand that Washington is aligned with the one percent against them and that their incomes and economic prospects will continue to decline.

obama-communism.jpg rothchildsEconomists, or rather the few who haven’t sold their souls, know that the government’s economic data are pulled out of a magician’s hat and massaged to produce numbers contradicted by reality.

Unemployment is measured according to methodologies designed to prevent its discovery. Inflation is measured according to methodologies designed to deny its existence. Jobs are reported that don’t exist, and GDP growth rates are announced that declines in real median family incomes and consumer credit make impossible.The poverty level income is set artificially low in order to minimize welfare spending.

The lies that Washington and the powerful private interest groups that control the US government tell us go unchallenged by the print and TV media and by NPR. The propaganda that Americans are fed is more extreme than the propaganda of Big Brother in George Orwell’s 1984.

In last Friday’s report the Bureau of Labor Statistics (BLS) tells us that the unemployment rate has declined to 5.8% and that 214,000 new jobs were created in October. Once again let me explain these lies to you. The unemployment rate is low because the one that the government and financial media emphasize does not count those millions of Americans who have become so discouraged from looking for jobs that do not exist, that they have quit looking. If you give up and stop searching for a job, the US government does not count you as a member of the work force. You are unemployed but not counted as unemployed.

The uncounted unemployed can be measured in the sharp 21st century decline in the labor force participation rate. The labor force participation rate has declined because there are no jobs to participate in. But Washington, the financial media, and the bought and paid for economists lie. They say the participation rate is down because the baby boomers are retiring. However, as John Titus, Dave Kranzler, and I documented with the government’s own data in a recent column, the participation rate of baby boomers is the highest of all and the only one that is rising. http://www.paulcraigroberts.org/2014/09/04/lie-serves-rich-roberts-titus-kranzler/

The reason is that with the Federal Reserves sole concern with the welfare of a small handful of mega-banks–the ones that sit on the board of the New York Federal Reserve Bank–real interest rates are negative. Therefore, retirees have no income from their retirement savings. (Generally speaking, retirees avoid stock investments, because they can lose a great deal from a major correction, and it can take more years than they have left for stocks to recover.) To supplement their Social Security pensions (a rigged CPI prevents or minimizes cost-of-living increases), retirees take the temporary, lowly paid jobs that are all that the US economy can produce. These jobs do not provide sufficient income with which to form a household.

As I have pointed out for a decade, or longer, the US economy no longer creates First World jobs. The US economy creates jobs for waitresses and bartenders, hospital orderlies, and retail clerks. The fact that the complexion of the US work force is becoming Third World is not considered a notable problem by the media or financial press, and economists seem immune to the facts.

Let’s look, once again, at the BLS payroll jobs report for October 2014: http://www.bls.gov/news.release/empsit.t17.htm

There are 209 thousand private jobs created and 5 thousand government jobs created.

Where are the private jobs?

Almost all of them–181,000–are in lowly paid private services.

Retail trade with 27,100 jobs, wholesale trade with 8,500 jobs, and transportation and warehousing with 13,300 jobs provide 48,900 jobs.

With middle class retail stores closing and even dollar stores failing and with consumer income (except for the rich 1%) and credit (except for student loans) shrinking, do you really believe that consumer spending supported almost 50,000 new jobs in October?

Where is the money coming from?

The vast amount of money that the Fed has created has gone into the handful of mega-banks to support the banks. The banks are not buying consumer goods.

The BLS reports that 37,000 new jobs were created in October in professional and business services. Employment services, such as temporary help services, account for 24,000 or 65% of these jobs.

Another old standby is education and health care services, which provided 41,000 new jobs. Health care and social assistance provided 27,200 of these jobs and home health care services provided 7,400 of these jobs. Together lowly paid services provided 84% of the jobs in health care services.

Now we come to the major jobs sector in America: waitresses and bartenders. Waitresses and bartenders are classified under “leisure and hospitality,” which claims 52,000 new jobs in October of which 41,800 or 80 percent are waitresses and bartenders.

If you look at the jobs that the BLS reports the US is creating, they are third world jobs.

How is the US “the world’s only superpower” when it cannot create a middle class job.

Amidst the media hype of 214,000 new October jobs, here are some very disturbing facts: In October job cuts rose 68% from the previous month and 12 percent from the previous year. So far there have been 414,591 job eliminations in 2014 with 51,183 of these coming in October.

Where are the job cuts? Retail store closings have produced 38,948 retail job reductions in 2014 with 6,874 of those coming in October. Yet, the BLS reports consistent job growth in retail jobs.

Hewlett Packard cut 5,000 jobs in October, bring its year’s total to 21,000 lost jobs.

Microsoft eliminated 6,509 jobs in October for a year to date layoff of 55,511, a rise of 92 % from 2013.

In October the electronics industry cut 1,648 jobs, bringing the year to date loss to 18,153.

The telecommunications industry cut 5,217 jobs, bringing the year to date loss to 20,038, an increase of 81% from 2013.

According to Wolf Richter, US job losses in the tech sector have risen 97 % from the previous year. http://wolfstreet.com/2014/11/07/layoffs-explode-in-big-old-american-tech/

My point is: how does consumer demand grow in order to propel the economy when good jobs are replaced by low-paying jobs?

Perhaps one day economists will notice the problem.

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