Friday, May 4, 2012

The unemployed are gonna party like its 1981

While the Obama Administration will undoubtedly celebrate the manipulated 8.1% unemployment rate number printed on May 4th, those who are actually unemployed will be celebrating in a different way.  The number of people who are not counted as being in the labor force soared to the highest levels since 1981, when America was in the midst of the Carter induced stagflation period, and interest rates needed to be raised to almost 20 points before the system flushed out the financial virus's.

it is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to 88,419,000. This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%. - Zerohedge
So when you can't find a job, the government sees you as a non-entity, and $5 trillion of government debt has created nothing, there is no choice but to spend your last few dollars on some brews or cheap whiskey, and toast the roaring 2000's, where bubbles gave you a job, and bursting bubbles took it away

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