Monday, September 10, 2012

Correction Of Obama Propaganda - The U.S. Has Lost Nearly Two Million Manufacturing Jobs Since The 2008 Collapse

Last week I wrote that Obama's deceptive propaganda at the Democratic convention that he created 500,000 manufacturing jobs was a massive manipulation of truth.  That his policies hadn't created much of any manufacturing jobs.  Instead, there were nearly half a million people called back to jobs lost in the 2008 collapse.  Well, I must be fair.  The Nobel Prize winner's bombing of the world into submission created replenishment demand for bullets and missiles.  

On Friday, NPR posted a graphic outlining this fact.  Instead, even today, since the 2008 collapse, the U.S. has still lost nearly two million manufacturing jobs under Obama.  The issue isn't that Obama is to blame for these losses.  He clearly is not.  The issue is, as Niall Ferguson pointed out, he hasn't done jack shit to fix what is arguably the worst economic crisis this nation has ever faced. or the structural issues that caused it.  

(Before you defend this crisis as not being as great as the Great Depression, one must realize every large financial institution in our nation would have collapsed without tens of trillions of bailouts.   Even that never happened in the Great Depression or anytime in our history.  Ever.  Real unemployment and underemployment is most likely worse than the Great Depression.  It's simply government transfer payments - Social Security, Medicare, unemployment, welfare, etc -  that have kept the inhumanity, exploitation and violence against what is generally the exploited poor and the working-class hidden so the looters can continue to loot.)

But, even if we have had massive manufacturing jobs losses, that's okay.  As Hank "I'm an economic illiterate" Paulson told us, the American economy is resilient and we will create new jobs somewhere else.  So....   People in the health care bubble, the higher education bubble and the the federal government bubble are all still living large as NPR's graphic shows us.  

By the way, these jobs are all a tax.   Just to let you know Hank, a job is not a job and you really are an idiot.  Instead, these jobs rely on wealth created by others as consumers of capital.  Since we don't create our own capital in this nation, people in these positions are headed for a day of reckoning.  We either start producing our own capital at a radically swift rate, or there isn't going to be enough money in the economy to pay for their future employment.  That is, unless the Federal Reserve literally starts handing printed money employment checks to everyone in those positions.   You know, similar to how government transfer payments are handed to so many Americans.  Because that is what they ultimately will have to do under Obama's policies.  Quantitative easing, as it is now designed, won't do anything except give more money to the looters.  Not exactly new news on here.  Something we have beaten over and again like a rented mule.

Title link here.

posted by TimingLogic at 7:07 PM