The economy seems to be picking up steam with 244,000 jobs added in April. Bloomberg.com reported that:
‘The economy has generated 760,000 private jobs in the past three months, the report showed. Overall, companies added 2.1 million jobs since last February, after the loss of 8.8 million as a result of the 18-month recession that ended in June 2009.’ (end of excerpt)
Yet we really have many millions more unemployed and underemployed people than is being reported. The terrible 9% unemployment rate reported in April is really more like 15% to 18%. And the 244,000 jobs added in April would have to continue every month for more than 10 years to catch up with unemployment and population growth. But it will not if we continue to pursue Democrat policies.
If you recall when the Bush economy in 2006 had 4.5% unemployment and a tiny deficit, the Democrats all wailed about “tax cuts for the rich”. Because no matter how positive the numbers were under Bush, the Democrats had to find a dark lining.
So what should we make about the April jobs report versus the terrible job losses in the recession? Several things:
*First, there still are some vestiges of capitalism left in America which is helping the economy to rebound. Because Americans do still have private wealth (investment capital). This is the only thing that is keeping our economy afloat. In high-tax socialistic nations, the lack of private investment capital produces low job growth, or no job growth and chronic unemployment. And Obama and the Democrats are continually seeking to undermine our economy by drawing more and more wealth out of the private economy through debt, overspending and taxes.
*The general economy is continuing to suffer (the housing collapse, debt, personal debt, manufacturing job losses etc.) but has been saved by two things that happened recently: Pro-business Republicans took over the US House of Representatives in November, easing the minds of business owners and creating a psychological climate for growth. And the lower Bush-era tax rates were voted in for two more years in December. Those two factors alone certainly are keeping the job figures up.
*We are never out of the woods with Obama and the Democrats’ War on Business. Look at the reported 1.8% GDP growth figure in the first quarter 2011 compared to the 3.1% in the fourth quarter of 2010. This sounds like a double-dip recession. Meanwhile a recent poll of CEOs showed that California is now considered the worst state in America for business. Historically, California was one of the richest states in the world, but the liberals invaded it, plundered it and destroyed it. California today is dominated lock, stock and barrel by anti-business Democrats.
*The low job numbers in manufacturing in April continue to cast a pall over the economy. The fact that factory payrolls increased by 29,000 in April after a 22,000 rise in March continues to be part of the most underreported economic story in America. Over the last 50 years, as the population of America grew 75%, the number of wealth-producing manufacturing jobs actually fell by about 25%. This is, in a nutshell, what is killing our economy and our wealth.
Obama, the Democrat left and the enviro movement are continuing the Democrat policy of attacking our manufacturing base. They say over and over that we cannot compete with low-wage nations in manufacturing, which is nonsense. We easily can compete (and we do compete in many cases) if it were not for the five destructive forces emanating from the Democrat party left – excessive taxes on business (particularly on manufacturing); excessive regulations and mandates on business (particularly on manufacturing); severe enviro laws aimed particularly at manufacturing and the extractive industries associated with manufacturing (logging, mining, quarrying etc.); relentless attacks on business by trial lawyers associated exclusively with the Democrat party; and labor union agitation fomented by Democrats.
Bloomberg quoted Jim McNerney, CEO of Boeing Co., the jet aircraft maker: “We are going to be hiring and growing employment in Puget Sound (Seattle area) and in South Carolina over the foreseeable future.” Boeing is one of America‘s crown jewels of manufacturing.
Yet the Obama administration, through the National Labor Relations Board, is seeking to block Boeing from opening its brand new plant in non-union South Carolina. Boeing is opening there after decades of strikes by unionized workers in Boeing’s main assembly area near Seattle.
So there is another example of Obama and the Democrats seeking to undermine private-sector job growth in the most productive part of the economy (manufacturing) while touting the job numbers for April.
Finally, you may have noticed that every single month that the jobs report says that “the economy added more jobs that expected” or “fewer jobs than expected”.
Expected by whom? This is reported as if to say that there are media figures, intellectuals, academics, economists etc. who are watching over the economy every minute. Yet those people are always wrong, according to the jobs report each month. So why say “higher than expected” or “lower than expected”?
Answer: Because the “expected figure” is an average of many economists each making a jobs prediction each month. And it never is exactly on target.
Please visit my website at www.nikitas3.com for more. You can read excerpts from my book, Right Is Right, which explains why only conservatism can maintain our freedom and prosperity.