In this video, I talk with author and economic analyst John Sneisen (who in this video is terribly framed by the way) about the truth about unemployment in the United States despite manipulated job numbers. Much of the unemployment rate in the United States is hidden in the labor force participation rate as the unemployed magically lose the title of unemployed after a certain amount of time without looking for a job.
People are praising the job numbers under Trump, but let's be real, it's not his fault. This is a problem of the monetary system and the overall bureaucratic market manipulation, regulations, taxes and bank spoofing. It has been working towards a climax for a long time, propped up and pushed off longer and longer making the problem worse.
There is a major surge in construction industry layoffs right now as the housing bubble comes to its inevitable end. Jobless claims have jumped 10k from 221k to 231k which is the highest since November as the US economy continues to teeter off.
And the most absurd statement of the month goes to Larry Kudlow who just said he guarantees there is no recession in sight. Something tells us he's going to eat those words. It's very reminiscent of what we heard from Keyenes in the 1920s, Bernanke and Krugman in the 2000s leading up to the 2008 crash and just recently Janet Yellen who claimed we will not see a financial crisis in our lifetime which she then went back on and said that we may see one soon. She had to cover her tracks of course.
The point is, this is all inevitable when markets and currencies across the board get propped up by the Federal Reserve and market speculation and are then met with a loss of faith. History can tell us a thing or two about that.