Unemployment is low only because ‘involuntary’ part-time work is high   Recently updated !

Business Insider has the article Unemployment is low only because ‘involuntary’ part-time work is high.

Misleading unemployment numbers may be prompting the Fed and the Bank of England to make a huge error.

It is not that misleading unemployment numbers are prompting the Fed to make a huge error. The point is that the Fed and Trump are purposely using misleading numbers to justify transferring more wealth to the wealthy.

The value of this article is that it explains how Trump is lying with statistics better than I could just be using qualitative explanations.

“Headline” unemployment is only at a record low because of a 42% increase in the number of people who are in “involuntary” part-time work.

To back up my statement about the use of misleading numbers, I give you yhis quote.

“During early 2018, involuntary part-time work was running nearly a percentage point higher than its level the last time the unemployment rate was 4.1%, in August 2000,” according to Rob Valletta, a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco. “This represents about 1.4 million additional individuals who are stuck in part-time jobs. These numbers imply that the level of IPT work is about 40% higher than would normally be expected at this point in the economic expansion.”

The Fed is fully aware of what the problem is. They just aren’t bothering to make it clear to the public. The oligarchs’ news media has no incentive to inform its readers with this information.

How White Collar Criminals Get Away with Murder

New Economic Perspectives has the article How White Collar Criminals Get Away with Murder. I don’t watch The Real News Network anymore since they pushed Paul Jay out, so I only post this because it is an interview with WIlliam K. Black and I was pointed to this from New Economic Perspectives.

White-collar crime prosecutions are at a 33-year low. Corporate leaders can cause environmental disasters, economic crashes, and the deaths of thousands and still walk free. But there’s a way out.

Confidential documents reveal U.S. officials failed to tell the truth about the war in Afghanistan

CNN has the MSN article that appears to come from The Washington Post. Confidential documents reveal U.S. officials failed to tell the truth about the war in Afghanistan. You can translate the phrase “failed to tell the truth” into “lied like hell” if you want a more accurate headline.

“Our policy was to create a strong central government which was idiotic because Afghanistan does not have a history of a strong central government,” an unidentified former State Department official told government interviewers in 2015. “The timeframe for creating a strong central government is 100 years, which we didn’t have.”

This is something I figured out years ago. If I could figure this out despite all the lies we were being told, how could the so-called experts in our government fail to figure this out? We do revere these kinds of people who are blind to the obvious. You can imagine what these experts don’t see about what is happening in the world now. Iran, Iraq, Venezuela, Syria, Bolivia, and on and on. Hillary Clinton and John Kerry are typically blind as Secretaries of State.

Stephanie Kelton: Modern Monetary Theory’s Take on Fiscal Policy   Recently updated !

CFS Institute European Investment Conference 2019 has the video Stephanie Kelton: Modern Monetary Theory’s Take on Fiscal Policy.

Please listen to this description. If you think you see anything here that is wrong, just ask. I think I can set you straight. It is hard to argue that MMT (Modern Money Theory) is not a true description of how money works. MMT just let’s you see what you can do and what the consequences will be. It does not tell you what choices you have to make. If you are willing to take the consequences of your actions, then you can do anything you want. If you don’t like the consequences, then you are not free to make those choices.

My Facebook post is the best place to carry on a conversation about this.

Sarcasm – US Stock Prices Hit a Permanently High Plateau

YouTube has the video Keiser Report: US Stock Prices Hit a Permanently High Plateau (E1470).

In this episode of the Keiser Report, Max and Stacy discuss Irving Fisher’s correct but early call in 1929 when he said that stock prices had hit a permanently high plateau. He just needed to wait some few decades for an all fiat regime controlled by a banker-coddling central bank. They also discuss the $4 trillion from the NY Fed propping up the stock market — an allegedly ‘unintended consequence’ of bailing out repo markets.

In the second half, Max interviews Ross Ashcroft of Renegade Inc. about the cantillon effect, taxing land values, turmoil in repo markets, and a global debt jubilee.

The bullshit level in this episode of the Keiser Report is as close to 0 as you can get. If you want to know what I worry about as my stock market gains roll in, this is it.

As I used to mutter under my breath as I saw all the people making money on the dot com bubble. “It’s not what you you gained today that matters. it’s what you get to keep.” Eventually, I was right.

You have to watch the video to see the irony in the headline.

Professor Bill Mitchell – Reframing the Progressive Agenda

YouTube has the video Professor Bill Mitchell – Reframing the Progressive Agenda, London

The talk considers questions such as:

How can the debate on the economy be reframed around the things that really matter – people and the environment?

Does Modern Monetary Theory hold the key?

Toward the end of the lecture Mitchell showed the following slide:

John Maynard Keynes Quote

The purpose of the lecture is to unfuddle your head. There has been an effort for over 50 years to fuddle your head, and that effort has been far too successful.

Explosive leaked email claims that UN watchdog’s report into alleged poison gas attack by Assad was doctored

The Daily Mail has the article New sexed-up dossier furore: Explosive leaked email claims that UN watchdog’s report into alleged poison gas attack by Assad was doctored – so was it to justify British and American missile strikes on Syria?

But a dissenting scientist, employed by the Organisation for the Prohibition of Chemical Weapons (OPCW) says in a leaked email that investigations on the ground at Douma have produced no hard evidence that the alleged gas attack took place.

It appears that these facts were deliberately suppressed in published OPCW reports.

The email makes no attempt to suggest what did happen in Douma. It simply points out that hard evidence, gathered and examined by non-political scientists, does not support the officially endorsed version. And it claims that this resulted in the OPCW redacting the report to the extent that its conclusions were misrepresented.

This is what I have been saying since this smear tactic was first used by the USA. I have reports from people like Vanessa Beely that I posted on my blog to back up my skepticism. The destruction of Tulsi Gabbard by the oligarchs’ news media goes on because she refuses to repeat the lies of the oligarchs’ news media.

The Economics of Taxing Wealth

YouTube has the video Global Capitalism: The Economics of Taxing Wealth [November 2019] by Richard Wolff.

In connection with Wolff’s discussion of the main topic above, he will also cover the following issues at the November 13, 2019, event:
– Current wealth tax proposals by Bernie Sanders, Elizabeth Warren
– How US already taxes wealth (of some, not others}
– How other countries tax wealth
– How US enables/allows wealth to escape taxes
– Redistributing wealth: pros and cons
– The protest movements in Chile, Lebanon and beyond and how they differ from those in Hong Kong
– The overdue critique of “libertarian” capitalism

This is a fantastic lecture. Listen to it as long as you can. If you have the fortitude to stay for the whole thing, it might change your world view. If you want to focus on the economics of taxing wealth, it probably takes him about 30 minutes to even get to that subject. You can always use the slider to jump to the part you want to hear.

Although I have been listening to Richard Wolff for a few years now, this may be one of his best lectures. It really is too bad that there aren’t enough people who have the time to listen to this.