Posted originally on Aug 27, 2024 By Martin Armstrong |
Ohio Secretary of State Frank LaRose announced today that he has formally referred evidence of non-citizen voter registrations to Ohio Attorney General Dave Yost for further review and potential prosecution. With each passing day, we can see what is taking place. This election here in 2024 may indeed be the last one. There is even a serious risk that this will end up in the Supreme Court for no matter who wins, there will be lawsuits filed. The Democrats have stirred up a real hate fest over Trump. When Obama was elected, even those who voted against him just moved on. Today that is not going to happen.
I wish this forecast was wrong, but I think everyone can now see that what the computer has been forecasting is unfolding before our eyes. Be prepared for violence. You are the best judge of your particular area. With the flood of illegal aliens, it is not just the presidency at stake here. Even people like DeSantis and his failure to address this issue of voters proving that they are citizens may come back and dethrone him, and it will be his own fault.
The June jobs report revealed better than anticipated results with 206,000 new jobs now added to the US economy. Is Bidenomics working? Absolutely not. The jobs reports are inflated because the Biden Administration has been multiplying the public sector.
Of the 206,000 new jobs, 70,000 were created within government, surpassing the 49,000 government jobs created last June. Local government accounted for the bulk of new positions within the private sector last month. One-third of all new positions created in June are within the government, funded by taxpayers, and add nothing to the overall GDP. The public sector is growing at the highest annual pace since the 1990s.
America needs manufacturing positions. Our industries are fleeing the nation entirely and our ability to produce has been drastically undercut. At least 10% of overall GDP is at risk. The Biden Administration aimed to increase manufacturing hires by 1 million in 2024. The sector lost 9,000 positions in February and then failed to gain a single hire in March. The data for April and May is still preliminary and can be revised, but they believe there was a net gain of 5,000 manufacturing jobs from December 2023 to May 2024 based on the Bureau of Labor and Statistics. Now, initial results show that the US shed even more manufacturing jobs in June.
April’s job report was revised down to 108,000 compared to the initially reported 165,000 positions. May’s report was also revised to show 218,000 new jobs vs the initially reported 272,000 positions. The revised figures never make the headlines as they want those initial reports to paint the US economy in the best light.
In April, Federal Reserve Chairman Jerome Powell said he was unimpressed by the “strong” jobs report, and it certainly was not enough for the central bank even to consider dropping rates. There is a reason that the central bank does not believe the “strong jobs reports” are an indication of a strengthening economy. Unemployment, at best, is at 4.1% right now – the highest since November 2021.
Expanding the public sector is a detriment to the US economy. These jobs produce nothing and cost the taxpayers a hefty sum. Trouble consistently brews when governments grow disproportionately. The Roman Empire, the longest-standing empire in history, vanished as a direct result of an oversized public sector that bankrupted Rome. The private sector produces economic growth, while government is a public servant consuming the wealth generated by others.
Posted originally on Jun 13, 2024 By Martin Armstrong
Steven Camarota at the Center for Immigration Studies produced a new study published by Breitbart that explains the truth behind America’s seemingly low unemployment rate. Millions of migrants have entered America under Joe Biden. The jobs reports may seem strong each month but Fed Chair Powell himself said he has not been impressed by the incoming data. One major reason that the data is skewed is because migrants have secured an overwhelming 75% of all new jobs created in the United States in 2019.
American men have been leaving the workforce. American men with only a high school degree between 25 and 54 had a workforce participation rate of 95.7% in 1960, which has fallen to 81.6% in 2024. They cannot compete with people who are willing to accept lower pay for the same positions. Even men with a bachelor’s degree in the same age range experienced a decline in workforce participation from 95.8% in 1860 to 84.8% this year. The study concluded that workforce participation rates among all prime-age men in America plummeted 8 percentage points in 64 years.
“While labor force participation among these groups has roughly returned to pre-pandemic levels, the rate in 2024 remains at or near historical lows relative to other peaks in the business cycle,” Camarota explained. Over 300,000 Americans have left the workforce in the past year alone, while 637,000 migrants took their place.
Three in every 19 people living in the US were not born in the US as our foreign-born population surpassed 51.6 million. Biden has made it easier for migrants to fast-track their way to immigration status. The problem becomes that immigrants are being prioritized over natural-born citizens in the name of diversity but the truth of the matter is companies are able to pay them less.
Another aspect of the skewed jobs data is the growing public sector. The public sector has been multiplying under Biden and has been increasing at the fastest pace in 34 years. These public sector positions are now on the taxpayers’ payroll. The public sector produces absolutely nothing and will not add to GDP growth. The private sector rose by 4.3% in 2022 before slowing to 2.3% in 2023. These government positions are incorporated in the monthly jobs report as if they were actually contributing to the economy. Government hiring rose a full percentage point from 2022 to 2023 by 2.7%, marking the highest annual increase since 1990. Biden has plans to continue bulking up government agencies, especially as they aim to hunt down citizens for taxes and create social programs to support the increasing number of Americans who are falling beneath the poverty line as well as the 8 million illegal migrants.
Biden has been campaigning on his strong job growth. Well, he highlights the fact that the workforce rapidly grew after lockdown measures were lifted. Federal agencies are not including this information in their data – American workers are being replenished by immigrants and the government is steadily expanding.
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