Today’s Employment Data: Corporate Capitalism Is Choking On It’s Own Vomit

There’s a ton of things I want to post but I seem to be unable to focus long enough to put them up. But, I do want to make a few comments about the “state of things” as it pertains to the US economy given the recent employment numbers.  I’ve noted numerous times over the last dozen years that 2008 was the end. And, I’ve noted many of the dynamics behind that. 

Today we announced employment numbers.  Let’s take a look at a nontraditional method of looking at employment. But beforehand, let’s build a baseline for the punchline. 

I’ve noted numerous times that multifactor productivity has been negative or flirted with negativity in the US and Europe post 2008.  To most people, that remark or even the data behind it is going to mean nothing without context. As I’ve remarked, that essentially means doing less with more.  Or, it takes more money to accomplish work than profit on the back end; the system is devouring massive amounts of money to sustain itself. (Ample evidence US productivity since 1970s is pure fiction. I could cite numerous data points on this but nothing points this out more accurately than when debt swung well north of output in the chart I posted relatively recently.)  This is hidden from the public in the form of corporate looting in the financial and debt markets by issuing more debt, issuing more shares, institutionalized financial fraud and on and on.  This is a direct result of corporate capitalism’s contradictions and ultimately gives us an indication when the system hits the “knee of the curve” of endless debt printing that becomes necessary to avoid collapse. (If you believe the political theater and false narrative of left versus right are the defining moments in time, just remember the ruling class who entrances useful idiots in this dynamic never see what is coming. They never knew the Roman Empire, the USSR and countless other societies were on the verge of crisis they created. You’ll never understand what’s really happening by listening to politicians, corporate bureaucrats or the corporate media who enriches themselves by entrancing you to their manipulative evils.)

This dynamic of hitting the knee of the debt curve, of which there is no return, has been exacerbated by market fundamentalists who allowed private capital to devour our democracy under Reagan.  Reagan planted in the minds of his cult worshippers, mostly corporate capitalist cult worshippers,  that government is bad and the “free market” is good.  What this means in simple language is that democratic oversight of private capital should be and was gutted and corporate capitalism will do a much better job of allocating capital than any government oversight that attempts to steer capitalism into areas that benefit society and democracy. In other words, we are now living through the neoliberal world of Ayn Rand, Margaret Thatcher, Ronald Reagan and kooks who lapped up their horseshit.  The reason Americans hate their government is because it has been devoured by private capital and serves absolutely zero needs of the common good. It’s a syphoning system for the rich and corporate elites.  Joe Biden has mouthed changing this but it’s all hand waiving and horseshit.  Biden’s programs seek to re-establish the same neoliberal policy that turns government into a syphoning mechanism for private capital to look taxpayers. His green policies would do nothing more than line the pockets of the corporate thieves who line up at the taxpayer trough to loot our democracy. (Not that I am against sustainable initiatives and research that benefit communities and individuals at the community level.)

People don’t understand the scope of this massive disaster we call the US economy. For more than forty years, private capital has been dismantling democracy and allocating capital to serve itself rather than democracy.  As a result, we live in a society that is devolving.  The end result is a world that is completely unbalanced and unsustainable.  Capitalism’s misallocation of capital in the US alone amounts into the hundreds of trillions of dollars over half a century. Biden attempting to spend a few trillion on infrastructure over a decade is like using a flyswatter to kill an elephant.  There’s nothing the establishment can do to avoid its self-created fate.  There’s no Great Reset or communism takeover attempt or other histrionic paranoia created by what is the carnival of private interests manipulating public perception to perpetuate their own entitlement.

So, let’s take a look at the employment numbers released today.  Total employment data I’m citing below is available from the Bureau of Labor Statistics. Total debt is available from the Federal Reserve.

So, since 2008, without massive increases nearly annually in the Federal Reserve balance sheet, unprecedented debt increases in non—financial corporations, massive misallocation of non-value added resources in finance( a stock market with 200x value-added economic leverage, misallocations of debt/democracy’s resources, mergers & acquisitions, private capital buying real estate and houses, playing endless useless paper pushing games, etc), and the massive increases in government debt to prop up corporate capitalist empire, we would be in an economic depression or worse. In fact, we are in a depression. It’s simply being papered over with massive non-productive and no-economic money so the system of entitlement can continue to protect its own interests.

Since Donald Trump became president, if we take into account total job creation and total debt added to the US taxpayer, every job created has cost taxpayers between $7-10 million depending on debt dynamics used.  If one simply uses federal government and corporate debt, it’s $7 million for every new job.  If we add in future obligation to the cost of creating those jobs, it is staggeringly higher.  Corporate capitalism did this.  Not poor people who are vilified by useful idiots and pathological capitalist elites for receiving $20,000 on unemployment; a modern day attempted form of eugenics.  The US would be better off paying people to watch TV while eating bonbons than creating more useless corporate make work. The system is in dire trouble and Washington’s answer is to vilify China after Republicans overwhelmingly voted to send half of our economy to China. (Democrats are no better. They aren’t demanding an end to US empire but instead also continue supporting policies of empire overreach.)  More attempts at creating boogeymen so useful idiots continue to support US authoritarianism.

I’ve noted on here that we are now in the stage of capitalism where we will simply mound more debt upon debt and there is no way out.  And, one of the long-time themes on here is the Federal Reserve will eventually be forced to bail out the world and at that point will itself require a bailout. And, thus will likely be vanquished by the American people. Don’t kid yourself that the Federal Reserve is the cause of all of our ills.  The Federal Reserve is there to prop up corporate capitalism which cannot exist without a central bank. It isn’t the Federal Reserve who sent jobs to China or created endless economic bubbles or endless despair in the US and globally.  Private capital misallocated all of it.  ALL OF IT. ALL OF DEMOCRACY’S RESOURCES.  More than ever, it appears my long-time theme that we are likely in the end days of corporate capitalism is revealing itself.  And, if that happens, federal government’s all consuming power (which is derived through the control system of corporate capitalism) as well as corporate capitalism’s funding mechanisms, including equity markets, will also disappear.  The only question is when.

Humanity will look back on the twentieth century with horror.  What type of world do we live in where the role of a supposed democratic government is to throw people to the wolves of profit-driven private capital and tell them to sink or swim? And, for half of the citizens, be forced to take job that actually makes them poor while enriching private interests?  The US is a death cult created by private capital devouring democracy.  (And for those who get caught up on technicalities, a republic is a form of democracy. Although, I would clearly state there is no evidence being ruled by those who want to be the king, our ridiculous election process, is any form of democracy at all but rather is a form of authoritarian rule.)

In the mean time, our government will continue to be forced to spend millions of dollars to create every new job in the private sector.  Because the private sector is a disaster due to deregulated private capital’s reckless misallocation of capital that has served as economic elite’s looting of democracy, society, the working class and the poor.