by Jeff Berwick, Dollar Vigilante:
It has now been five years since the financial collapse of 2008 and 2009. Since then, we’ve heard it all from the mainstream media. They said it was a “goldilocks recovery”… which is apt since it was a total fairy tale. Then Ben Bernanke said he was seeing “green shoots”… which would be great if he was a gardener rather than pulling the levers printing greenbacks.
But most statistics show quite the opposite. The labor force participation rate, a much better tool for getting a clear picture of the employment market, has been heading down since 2001, 13 years ago. And it hasn’t been this low since 1978.
One million fewer Americans are working today than when Barack O’Bomber took his place behind the teleprompters of the world’s largest organized crime ring, the US government.
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