Saturday, September 4, 2010

Smoke and Mirrors: Unemployment Statistics

The chart below comes via As the commentary notes, "the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle. Also, today's decline in jobs provides further evidence that the current 'economic recovery' remains sluggish at best."

There is nothing apart from political rhetoric and wishful economic thinking that contradicts this evidence. Few people truly recognize the futility of the economic "stimulus" for the sham that it was; this also includes all the policies enacted by the Federal Reserve Board. Unless a radical shift occurs in monetary and fiscal policies, the end result will be disastrous.