Dateline: Mostar, Bosnia and Herzegovina
According to “our” glorious leaders, the unemployment rate in the Land of the Free is heading down. Just 6.3% for the last two months!
“Things are getting better! Obamanomics is working! America is thriving, thanks to the benevolent democrats!”
If only this were the case. Sadly, the government must lie about employment statistics to ensure that their propaganda campaigns about their relevance continue to work, people continue to pay their extortion, and the Federal Reserve can continue to print funny money without being questioned.
Shadow statistics show a slightly different picture about U.S. employment number.
And, basically, the numbers are bad. In one example, unemployment and underemployment are a shocking 23%.
Why would Shadow Stats have such a wildly different number (23%) compared to the Bureau of Labor Statistics (BLS)’s 6.3%?
Two factors are at play here:
Long term discouraged workers…
… and short term discouraged workers. Notice the similarity of “discouraged workers“.
Neither of these groups are counted in the government’s version of unemployment.
And this isn’t a surprise, most statistics you hear from governments are padded or cooked in some way to suit their agenda.
But the real employment statistics only tell half the story of what is going on with the Land of the Free.
Under-employment is just a big of an issue. Even if we believe the government’s numbers, the types of jobs people are taking are surely an important issue to consider. Let’s take a look at the top ten jobs in the United States in Q2 of 2014 so we can make a reasonable assessment of the condition of the economy as a whole:
1. Retail salespersons, 4.48 million workers earning $25,370
The #1 occupation of Americans earns on average about $10/hour. Retail sales people can be those who sell retail merchandise, such as clothing, furniture, and automobiles, and those who sell spare and replacement parts and equipment, especially car parts . Both types of workers help customers find the products they want and process customers’ payments. The education level required to get an entry-level job in this arena is less than high school.
Cashiers make an average of $9/hour. Cashiers handle payments from customers purchasing goods and services. This job is slowly becoming automated, especially in grocery stores where self-checkout is becoming a popular option. The education level required here is less than high school.
Food prep and serving staff employees make about $9.28/hour. These are people who do routine tasks under the direction of cooks, chefs, or food service managers. Required education is less than high school.
Office clerks make $13/hour on average. They perform a variety of administrative tasks, including answering telephones, typing or word processing, making copies of documents, and maintaining records. Required education is a high school diploma.
Nurses make an average of $31/hour. There is currently a shortage of registered nurses in the US, so job prospects are solid at this point. However, time will tell what kind of destruction Obamacare will have on jobs in the medical profession. Education requirement is an associates degree.
Waiters and waitresses make about $9/hour, factoring in tips. Education requirement is less than high school.
Customer service people make about $14.70/hour on average. They typically handle customer complaints, process orders, and provide information about an organization’s products and services. Education level required is usually a high school diploma or equivalent.
These workers make an average of $14/hour. Hard work, low pay, and most people can’t sustain this kind of work their whole lives. Education level is none.
Secretaries in this realm typically make about $17/hour. Filing, organizing, phone answering. Education level is high school diploma.
Making about $10 an hour, janitors keep buildings clean and in order. Education required is none.
59% of all Americans bring home less than $35,000 a year.
There’s a common assumption that everything is okay if you “have a job”, the economy is rolling along just fine as long as there are “jobs”.
The reality is, you can even have two or three jobs and still be living in poverty. In America, there could be 0% unemployment with the majority living at or below the poverty line. Is this is prosperous nation? Is this the American Dream?
The middle class is dying off. It may be tough to see for many people who live in relatively affluent areas, but this trend of a declining middle class is not good for the future of economic conditions.
Most Americans know deep down that something is fundamentally broken. A recent CNBC survey showed that most people think the economy is either “fair” or “poor”.
At this point, you might be thinking, “Ok Andrew, you’ve given us the gloom and doom, you’ve displayed all the negativity about the economy in plain numbers, and the future looks shaky. What about some solutions? What can we do to not be part of this inevitable decline and possible collapse?”
First of all, you need to get your money and your assets offshore. In this environment, things may change quickly and harshly. Protection of any assets you have is essential to preserving wealth.
Next, getting a second passport will give you the freedom to travel and have the option to get out, if it comes down to that.
Finally, not having your business tied just to the Land of the Free for its survival will protect you from a personal financial collapse. Lifestyle design becomes less of a luxury, and more of a necessity.
You’ve heard the saying about crisis bringing opportunity. That’s the important thing here. Rather than wallow in negativity about the overall situation, it’s important to take charge of your own future, and take advantage of the opportunities that rise from the ashes of the U.S. decline.
While the poor complain, the rich get ahead.
Speaking of which, I’m hosting a private dinner for Members of The Nomad Society this weekend. We’ll be dining on great lobster, crab cakes, and steak in Vancouver with the best view of the city. And we’ll be talking about ways to “get ahead” with smart investments around the world. If you want to join the ranks of the “new rich”, make plans to join us.
Nomad Capitalist is all about helping people like you “go where you’re treated best”. If you want to learn more about what exactly that means, and why I believe so strongly in it, I made this video that is worth watching: