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Obamanomics

Bill Collier

The new (Obama) economy is a combination of a shrinking workforce, a higher than ever proportion of part-time to full-time jobs, and lower wages with real wealth shrinking for most Americans for the first time in American history. It is not just that wealth is being transferred from targeted groups not supportive of the Administration to their supporters, although this is happening, but it is also a matter of real shrinking wealth as lower wages, fewer full time jobs, rising health care costs, and the rising cost of regulations are eating into people’s pockets, and their savings.

obamanomics

The Labor Participation Rate in the US is now 63.4%.  THIS IS EXTREMELY LOW and has not reached such a low level since the 1930’s. However, this may at least in part be a function of the first wave of retirements for America’s single largest generation, the Baby Boomers who were the first generation to exercise birth control and “family planning”.

Over 50 million Americans were aborted in the womb and their absence has led to a dramatic generational imbalance as there are too few able-bodied citizens to work and produce the tax revenue that pays for retirement and other Senior Citizen benefits.

Not only are there fewer workers, in part caused by abortion policies and the retirement of Baby Boomers, but, according to recent Labor Department statistics, there are 28 million part-time workers which, as both a number and a percentage of the work-force, is the lowest since such numbers have been tracked.

The under-employment rate is 14%, down from 14.3%, which is a bit of good news. The unemployment rate of 7.4% is of questionable validity because of the shrinking work-force and the imbalance between full and part-time jobs, but no doubt the current Administration will tout that number as a sign of the success of their policies.

Combining all of this with an out of control Federal Reserve printing press, as more dollars are created in a bid to increase inflation deliberately to benefit financiers at the expense of average people, and an objective observer with a basic understanding of history knows that economic demise and eventual collapse are becoming unavoidable. The end result is that the very rich insiders who are connected to the political leadership and the poor who vote for that leadership receive benefits while the middle class pay for it all and are themselves  driven to a “working poverty” not seen in this land in over 150 years.