CounterPunch: Collapsing US Economy

03 Economy, Corruption, Government

counterpunch squareThe Collapsing US Economy Paul Craig Roberts

John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%. . . . An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression.

As of July 2015, the US has 27,265,000 people with part-time jobs, of whom 6,300,000 or 23% are working part-time because they cannot find full time jobs.  There are 7,124,000 Americans who hold multiple part-time jobs in order to make ends meet, an increase of 337,000 from a year ago.

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Phi Beta Iota: Until the public can understand the truth of the matter, no matter how ugly, it will not be possible for the public to act wisely in relation to any public matter including the rejection of the two-party tyranny, a demand for electoral reform, and a radical change in how we govern ourselves, ideally by making evidence-based decisions in a transpartisan transparent, truthful and trusting manner.

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Paul Craig Roberts @ Phi Beta Iota

Unemployment @ Phi Beta Iota