The jobs report came out and it looks as if the country as a whole only created 38,000 jobs for the month of May and I believe they readjusted the figures for April down to 123,000 from 160.000.
The good news is that the unemployment rate went from 5% down to 4.7%. Of course the news that 500,000 people stopped looking for work kind of makes you wonder about the idiots cranking out the figures. It’s a little bit like an expert hunter talking about taking “sound shots” while hunting. That’s where you hear a noise in the bush and take a shot at it. You know what he’s doing, and your only question is why?
Obama asked at a town meeting if he would have done anything different in his Presidency, said that he wished that he had advised the people of the severity of the recession we were in at the time it was happening.
The economic consensus of our present mess, is that we walked by the graveyard whistling and got to the other side without a scratch. The trouble is, the demons know you have to come back the other way sooner or later.
Some other news source stated that half of the US population can’t come up with $400 cash for an emergency, they need to use a credit card. That scares me.
Blue Shield in Texas has announced that they will increase premium rates by 60% November 1st. If you are paying $400 now, it’s not rocket science to calculate the new monthly payment; but you’d have to be a rocket scientist to cover the increased premium for a family of 3. Obama Care will destroy the private insurance industry. No profit, they are gone. Government programs are like public restrooms, abused just as much as they are used and always underfunded.
46 million households are on food stamps. That’s out of 134 million households. It’s not like anybody is starving, they ought to pass a law against wearing stretch pants in Walmart if you weigh over 200 pounds.
But I digress. Where do we go from here with 14 to 20 percent unemployment? Does raising the minimum wage to $15 create jobs? I can see the logic in wanting to start out at $15 an hour as an employee. We need to ask the question, are the people protesting unemployed? If so, raising the minimum wage is not going to help them get a job. Millions of people were unemployed during the Great Depression. It took government work programs on infrastructure to open up the jobs market. Obama couldn't figure that out, maybe Trump can.
Of course the government claims that unemployment is about 4.7 percent and inflation is almost negative. Then we have the banks paying interest of about 1 percent. Toilet paper use to have 1000 sheets per roll. It’s a buck a roll now and smaller, it has about 200 sheets and the rolls are 2 inches less wide. So a toilet paper inflation calculator suggests that inflation is about 15 percent a year.
The irritating thing is you feel like throwing a roll of toilet paper at a politician, but when times are tough, you have to reconsider, use it where it is really needed.