“Obama’s Layoff Bomb” cites a series of recent “mass layoff actions” directly related to Obama’s economic policies. You won’t hear about these in the mainstream news media. “Mass layoff actions” are the sign of a sick economy, not a healthy one. Read more…
Although the economy and consumer confidence appear to be slowly improving, all is not as it looks. The Fed Chairman warned that the country is facing a double whammy hit to the economy in January 2013 that could be quite disastrous.
“Under current law, on Jan. 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases,” Bernanke told the House Financial Services Committee. Some liberal economists believe this combination will cut our GDP growth by 2/3. Conservative economists are warning of even more drastic results.
The reported 8.3% unemployment figure for January 2012 could be as high as 15.4%, based on the Government’s own numbers.
The source data used to calculate unemployment is subjectively derived, although it is clothed in a veneer of objectivity. As such the data collection process could be easily manipulated for political purposes without notice. There is no indication it was manipulated, however.
Total workforce estimates are not verifiable and in fact disagree by about 12% depending on methodology; the inconsistencies are not readily reconciled.
Published BLS analytical results are internally inconsistent between tables and sometimes within tables themselves, indicating a lack of rigor in analysis and/or presentation. As such the results could be easily manipulated for political purposes without notice. There is no indication it was manipulated, however. Read more…