Charlie McGrath, Contributor
How do you pretend the economy is recovering and report a shiny 8.3% unemployment number?
Simple – just add up the population within the city limits of Dallas, Salt Lake City, San Diego, Kalamazoo, Tampa, Mobile, Spokane, Nashville, Las Vegas, Roanoke and Cincinnati. Then take that number and double it. That will give you roughly the number of people needed to disappear out of the labor force to show the beginnings of a dramatic economic “recovery”.
Currently, there are nearly 88 million in the ever growing pool of persons not included in the labor force, up from 78 million in 2008. Oh, but the pain doesn’t stop there.
Households receiving food stamps is once again at an all time high at 22.2 million and the people in those households have seen the value of their homes fall to a new decade low — just a meager 34.4% drop from the 2006 highs.
Have no fear, the big banks that helped cut the throat of this economy are doing just fine. In fact, thanks to the Federal Reserve and Financial based crony capitalism, they are in the best shape they’ve been in nearly thirty years and the bankster windfall seems to be on track to really ramp up as another wave of foreclosures is about to begin.
Thus creating more nonpersons we can launch out of the participation pool while providing profit for those who got us here. Get ready folks, a storm is coming.