Former US Treasury Official - Today’s Jobs Report A Total Farce
Today a former US Treasury Official told King World News that today’s jobs report is a total farce, and any hint that there is an economic recovery is a lie. Dr. Paul Craig Roberts also warned, “the country is being increasingly deceived by disinformation.” Below is what Dr. Roberts had to say in part I of this extraordinary and exclusive series of written interviews that will be released today.
Eric King: “We just had the employment report come out, Dr. Roberts, your thoughts there?”
Dr. Roberts: “Well, it’s not believable, Eric. They claim 185,000 new private service jobs. They are showing jobs in retail trade. Of course the statistics show that retail sales are falling, so why are they having more employment?
They show a tremendous number of jobs in professional and business services, 73,000 (new jobs). This is not believable either. They also have 38,000 jobs in waitresses and bartenders. Now, for an economy that’s not going anywhere, you won’t have people hiring in retail trade and general merchandise stores where a lot of that employment is alleged to be.
When people are hard pressed you won’t see the demand for waiters and bartenders going up. Most restaurants are having difficulties because of the lack of growth in consumer income. The 73,000 jobs in professional and business services is completely unbelievable because there is no economic activity that would support that.
So I think they (central planners) are desperate now, and they are trying to hide the fact that there is not an economy. I’m sure that the professionals at the Bureau of Labor and Statistics are not happy about this. But I would imagine they have a lot of political pressure on them from the political appointees to produce (phony) jobs (in their report).
It may be that they are producing the jobs that lets knowledgeable people see though them (laughter ensues). You see, instead of just dispersing a few thousand jobs along all of the categories, which would be hard for most people to see any real problem, they have lumped them (the so-called new jobs) in the most improbable places.
It could be that this is the way the professional staff (at the Bureau of Labor and Statistics is putting out the message that this is a fake report they have been forced to provide. That’s just speculation, but it makes more sense than the report itself.”
Eric King: “When you see that kind of reporting going on and you know it’s patently false, what are your thoughts?”
Dr. Roberts: “My thoughts are they are desperate, and they are trying to continue this image of an economic recovery that was declared to have happened in June of 2009. But of course we’ve not seen any recovery.
So I think it’s part of the hype that everything is fine and we are moving ahead. It’s just part of the deception. The country is increasingly deceived by disinformation. That’s what is going on ... There are millions fewer in the labor force today than there were many years ago. It’s not believable, but the (mainstream) financial press will go along.”