(ThyBlackMan.com) “Throughout history, it has been the inaction of those who could have acted, the indifference of those who should have known better, the silence of the voice of justice when it mattered most, that has made it possible for evil to triumph.” Haile Selassie I.
Here is what the Biden Administration is not telling us, that should matter to every American voter, including Black Americans (by the way we are citizens of this great nation, yet we’re treated with disdain, by this administration).
President Biden and Vice President Harris’ policy of undercounting the Job Rates of the working-class, including Black Americans “guarantees” the racial wealth gap will never be closed under his presidency. “You need genuinely true stats to do that.” Biden promotes an incomprehensive rate of unemployment, 3.7%, when the real Job Rate is 6.8% for October, with a black rate that’s 5% higher at 11.8%, as we face a 3rd Recession in 14 years.
You ask, how does that hurt working-class, and Black Americans, and makes them consistently poorer, as a race of people – James, it’s only a few percentage points difference?
Folks, this ain’t rocket science. You can’t have “TWO” economies, and that’s what Biden, Harris, Obama, and yes, Clyburn are saying, they want us to have. One where a politician Joe Biden says, the Jobless Rate is 3.7%, and another economy, the REAL one, where economists agree, the Real Job Rate for October is 6.8%. And the Black Rate, 5% over the Real Rate is, 11.8%. THE TRUTH REALLY DOES MATTER! They basically want us, to ignore the real economy.
The Federal Reserve’s (Fed) mandate is to fight inflation. The weapon used by the Fed is interest rate hikes. Rate hikes slow the economy, creating layoffs. Biden’s policy of lying about Job Rates, saying his 3.7% is comprehensive, when the real rate is 6.8%, undercounts our Job Rates, leading to hiding our coming layoffs.
This is Simple: if you are not counted, you don’t exist. Any misery, or suffering you may incur, such as the loss of housing, and the challenges of feeding your family, as a result of layoffs (you guessed it) do not exist either, on paper, if you are not a part of the public count, when it comes to our Job Rates, announced monthly, by the Bureau of Labor Statistics. This is the number the world, and Congress sees, Biden’s official unemployment rate of 3.7%, not the real rate of 6.8%. Legislation, to supply money to help you, is based on Biden’s official rate.
Well, you ask, how do they not count me, after all I get an unemployment check?
Here’s how Secretary of Labor Marty Walsh, Biden, and Harris supported by the Democratic Party and by Clyburn and the Black Caucus, chaired by Rep. Beatty, hurt working-class Americans, and Black Americans, with the highest Job Rate at 11.8%.
If you low-ball or undercount laid-off workers with a Job Rate lower (his 3.7%), than the REAL rate (6.8%) HE “WILLFULLY” COUNTS ONLY about 50% of LAID-OFF WORKERS. He omits counting about 50% of blacks also, who have an 11.8% Job Rate, and are the first laid-off, as the economy declines.
The coming economic storm is REAL, and it’ll result in Jobless Rates increasing, effectively wiping out the economic gains of SENIORS, working-class Americans, and Blacks. A key question: Why does Biden “continue” to LIE about our Job Rates! Ask Clyburn.
But how did this get started? Who is responsible for this vile policy?
The Clinton administration started the vile scheme, of undercounting the Job Rates of Jobless American workers, Blacks included, leading to under-reporting our layoffs. Mr. Obama continued it, and Mr. Biden, wants to sustain it. Read the linked article: https://www.msn.com/en-us/money/markets/joe-biden-is-mum-on-undercounting-the-layoffs-of-working-class-americans-including-blacks/ar-AA11Cjwq.
How can this terrible, and stupid policy be overturned or ended?
Biden does not need more or added authority to change his official Job Rate of 3.7% (U-3) for October, and beyond to the REAL jobless rate, of 6.8% (U-6), recognized by economists, as the true rate just as the Clinton White House, which originated this vile scheme didn’t need authority “to start it.” So, you see, it is Joe Biden, and Democrats, who are literally putting their knees on our necks.
At the end of the day, no President including Biden, can LIE away the REAL ECONOMY, saying his 3.7% Job Rate, is comprehensive of our Job Situation, when it is not, no more than Trump can LIE away his 2020 lost to Biden. Problematic, for all of us, is their denial of the REAL ECONOMY, with a Jobless Rate of 6.8%. Thus, their Denial is, Our PAIN.
Staff Writer; James Davis
Mr. Davis is a leading expert and consultant in Financial Analysis and Social Dynamics. He is a graduate of Florida A. and M. University (FAMU), a former stockbroker, and a human rights activist who resides in Sanford, Florida. He was awarded the prestigious Governor Haydon Burns Scholarship to attend FAMU and while at FAMU was awarded the first Martin Luther King Scholarship. He is the author of three books, among them is “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M).
Mr. Davis can be reached through his blog @ https://thefixthistime.com.
