The American media specializes in fake news. Indeed, since the Clinton regime the American media has produced nothing but fake news. Do you remember the illegal US bombing and destruction of Yugoslavia? Do you remember “war criminal” Slobodan Milosevic, the Serbian president branded “the butcher of the Balkans,” who was compared to Hitler until Hillary passed the title on to the President of Russia? Milosevic, not Bill Clinton, was arrested and placed on trial at the International Criminal Tribunal. He died in prison, some say murdered, before he was cleared of charges by the International Criminal Tribunal. (Milosevic and the Destruction of Yugoslavia. Unpleasant Truths No One Wants to Know)
Do you remember the destruction of Iraq justified by the orchestrated propaganda, known by the criminal George W. Bush regime to be an outright lie, about Saddam Hussein’s “weapons of mass destruction,” weapons that the UN arms inspectors verified did not exist? Iraq was destroyed. Millions of Iraqis were killed, orphaned, widowed, and displaced. Saddam Hussein was subjected to a show trial more transparent than Stalin’s trial of Bukharin and then murdered under the pretext of judicial execution.
Do you remember the destruction of Libya based entirely on Washington’s lies and the criminal misuse of the UN no-fly resolution by turning it into a NATO bombing of Libya’s military so that the CIA-armed jihadists could overthrow and murder Muammar Gaddafi? Do you remember the killer bitch Hillary gloating, “we came, we saw, he died!”
Do you remember the lies that the criminal Obama regime told about Assad of Syria and the planned US invasion of Syria that was blocked by the UK Parliament and the Russian government? Do you remember that Obama and the killer bitch sent ISIS to do the job that US troops were prevented from doing? Do you remember General Flynn revealing on TV that it was a “willful decision” of the criminal Obama regime to send ISIS to Syria over his objection as Director of the Defense Intelligence Agency? This bit of told truth is why Gen. Flynn is hated by the Washington criminals who forced him out as Trump’s National Security Adviser.
Do you remember the US coup in Ukraine against the democratically elected government and its replacement with a neo-nazi regime? Do you remember that Washington’s crime against Ukrainian democracy was quickly hidden behind false charges of “Russian invasion”?
Can you think of any truthful report in the American news in the past two decades?
All of the lies leading to the death of millions told by the criminal Clinton, George W. Bush, and Obama regimes were transparent. The US media could easily have exposed them and saved the lives of millions of peoples and saved seven countries from destruction in whole or part. But the presstitutes cheered on the gratuitous and criminal destruction of countries and peoples. Every one of the presstitutes is a war criminal under the standards set by US Supreme Court Justice Robert Jackson at the Nuremberg trials.
We cannot even get a truthful jobs report. Yesterday (Aug. 4) the Bureau of Labor Statistics (BLS) reported 205,000 new private sector jobs in July and a drop in the unemployment rate to 4.3%. This is fake news.
The Associated Press’s Christopher Rugaber rah-rahs the fake news, adding that many economists think “robust hiring could continue for many more months, or even years.” Let’s think about that for a moment. Generally speaking economists regard full employment to be a 5% rate of unemployment. There can never be a zero rate of unemployment because of frictions in the job market. For example, there are people between jobs who have lost or quit a job and are looking for a new one, and there are people who have dropped out of the work force, perhaps to spend more time parenting or to care for an aged and ill parent, and have reentered the work force. Economists also believe that employment cannot go too low without pushing up inflation.
Assuming economists have not suddenly changed their minds about what rate of unemployment is full employment, if the unemployment rate is currently 4.3%, it is already below the full employment rate. How can the rate continue to fall for years when the economy is already at full employment? Apparently, this question did not occur to the AP reporter or to the “many economists.”
Of course, the 4.3% unemployment rate is fake news. It does not include millions of discouraged workers. When these workers who have not looked for jobs within the last four weeks are included, the unemployment rate jumps to 22-23%.
Now consider the alleged 205,000 July new jobs. Probably about half of these jobs are due to the add-ons from the birth-death model, and the other half from manipulations of seasonal adjustments. John Williams at shadowstats.com will tell us. However, let’s assume the jobs are really there. Where does the BLS tell us the jobs are?
Eighty-nine percent of the jobs are in services, essentially domestic non-tradable services.
Professional and business services account for 49,000 of the jobs, of which 30,000 are in administrative and waste services (garbage collection) and 14,700 are in temporary help services.
54,000 of the jobs are in education and health services, of which ambulatory health care services, home health care services and social assistance account for 46,900 of the jobs.
62,000 of the jobs are in leisure and hospitality, of which waitresses and bartenders account for 53,100 of the jobs and amusements, gambling, and recreation account for 5,900 jobs.
This picture of American employment has been holding for about two decades. It is a portrait of a third world labor force. The jobs are not in export industries. The jobs are not in high productivity, high value-added occupations that produce a middle class income. The jobs are in lowly paid, often part-time domestic services.
The jobs do not produce incomes that provide discretionary spending to drive up business profits. So why did the stock market hit new highs? The answer is that corporate executives are taking advantage of the Federal Reserve’s zero interest rates to borrow money with which to buy back their companies’ shares in order to drive up their bonuses, the main component of their pay.
But these undeniable facts about employment did not prevent Christopher Rugaber and the other financial presstitutes or newspaper headline writers or “many economists” from asking “How much better can it get?” (Atlanta Journal-Constitution front page, Aug. 5, 2017).
It is not only seven Muslim countries that Washington and its presstitutes have destroyed in whole or part with lies. Washington’s lies have also destroyed the American economy and the American work force.
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Contributed by Paul Craig Roberts of Institute for Political Economy.
About Dr. Paul Craig Roberts
Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. Visit his web site at the Institute for Political Economy.
This article has been posted with permission from Dr. Paul Craig Roberts.
Copyright Paul Craig Roberts.