(ThyBlackMan.com) Democrats, when it comes to the economy, are not projecting a picture of a prize winning and clear economic recovery plan, that will positively impact the coming Economic Downturn. So, Biden and Democrats are not connecting with voters, and American workers, professional, blue collar, union, and working-class Americans, when it comes to the economy. Regardless of whether the nation will have a Recession, almost every experienced economic analyst concedes, there will be an Economic Downturn. An Economic Downturn means – layoffs. President Biden, and Democrats when pushed for a specific economic plan, to pull us out of a Recession, they brush off the inquiry, saying, we are going to have “a soft landing.”
Well, there is a problem with that answer, if you do not have a detailed economic recovery plan, how can you have a soft landing? President Joe Biden, Rep. Hakeen Jeffries, Minority Leader of Democrats in the House of Representatives and Sen. Chuck Schumer, Democratic Majority Leader in the Senate know, or should know out of the 12 times the Federal Reserve (Fed) has hiked interest rates, since 1945, to control inflation, like it is doing now, each time the economy went into a Recession. When the Fed brought interest rate hiking to a stop – only one time out of the 12 times did the layoffs stop, also. So, when you do the math – eleven times, out of the 12, the layoffs continued, once they started, leading to a deeper Recession. These are the facts, which Biden, Democrats, and the Congressional Black Caucus (CBC) refuse to deal with, and come up, with A Solution! Ignoring facts carries great peril for us.
There are other Democrats of the opinion, the Federal Reserve will be forced to go back to an easy money policy, (reducing interest rates immediately, after hiking them) because of public pressure, due to Job losses in the millions. However, the Fed is sending signals, suggesting interest rates will remain high, for some time. By keeping rates relatively high to fend off inflation, the Fed hands the ball to the Biden-Harris administration and Congress to come up, with a solution to long-term Job creation. Dependence on cheap money from the Fed, through low interest rates, to create Jobs will lead to slow growth, again, which we experienced during the Obama administration, when interest rates were kept low. We have been there and done that.
When you don’t have a detailed plan, as Democrats, to impact more than a million layoffs, or perhaps as high as 3 million layoffs, following this Economic Downturn, what do you do? You attempt to impress voters, by well, there is just no other way to say it, you lie about our Job rates, like President Biden does. He says this, “Unemployment is below 4%. The longest stretch of unemployment below 4%, in the last 50 years.” It is just not true. It is a lie. He, however, pushes that phrase around, as if that will stop the coming layoffs, which the above statistical facts tell all of us, will happen, as the coming Economic Downturn begins. For more detailed information on the Biden-Harris administration Job rate scam, click on the link.
The Biden-Harris administration by advancing a scam to undercount our Job rates and using the mainstream media to do so, like the New York Times, NBC network (Morning Joe), CNN and the Philadelphia Tribune, is yanking American workers, and the nation backwards. Conceived in 1994 by Democrats, the scheme is no longer useful in today’s economy. Nevertheless, the Biden-Harris administration hangs on to this flawed policy. Can anyone see how undercounting our Job rates improves our economic condition as we face a 3rd Recession in 15 years?
The economy needs a Job Creation Plan, after interest rate hikes, that will work. Democrats, will certainly not be the majority party, controlling the House of Representatives and Senate, if they lose the support of their coalition of working-class Americans, Black and White Americans, Hispanics, Progressives, intellectuals, and suburban voters. They will lose their support, if the coalition concludes they failed them, in the metrics of long-term job creation, and growing this economy, when they could have told the truth. Job creation is a pocketbook issue, as VOTERS will side with the party, they think will put them back to work, and abandon the Democratic Party, who is hanging on to the past, using the awful lie and outdated policy of undercounting Job rates to make themselves look good.
The Labor Department reported on our Job Situation for August. The REAL Job rate rose to 7.1%, placing the Black American worker group Job rate, which is usually 2.7% higher over the real rate, at 9.8%, a stone’s throw away from the Great Recession rate of 10.1% reached by the nation, under former president Obama. Biden states his “political Job rate,” the U-3 category rate, which was never meant to be viewed as comprehensive of our unemployment Job Situation, increased to 3.8%. A 3.8% economy is a lot different from a 7.1% Job rate economy, that is in decline, as our Real economy now shows signs of heading downward, due to higher interest rates.
As we move forward, American workers, professional, blue collar, union, and working-class Americans, everywhere, will be able to watch, in real time, month to month, Democrats scrambling to support, their LIE, of undercounting our Job rates, and undercounting coming layoffs. They will do it with more lies, and disinformation, as the coming Economic Downturn deepens, with increasing layoffs.
Biden, and Democrats have been manipulating our Job rates since 1994. There is no dispute, the Biden-Harris administration is doing this. This vicious policy creates a permanent, unreported and uncounted class of Job workers. That’s right let’s do the math. Using the U-3 rate, Biden counted only 53% of the unemployed, for the month of August. If this policy becomes permanent, which Democrats, and the Congressional Black Caucus (CBC) want to see happen, 47% of the unemployed will permanently not be counted, and will not exist in any official paperwork, thus creating a permanent underclass, of American workers. Who will populate that underclass is yet to be seen, but Black American workers, will be significantly represented.
The U-3 rate, his 3.8% rate, as stated, was never intended to be viewed as being comprehensive of our Job Situation. By using the U-3 rate, as his official rate, and actually “knowing it is not comprehensive,” President Biden turns U-3 into, “a political Job rate.” Then, “Biden arrogantly sells it,” as the real Job rate,” which is not disputed (Biden does it every day). He politicizes (or lies) about our Job Situation, “right before our eyes,” hiding the country’s real economic situation, by repeatably saying our unemployment rate is under 4%. It’s disinformation, being delivered by none other, than the President of the United States. Are President, Biden’s and Democrats’ lies more acceptable, than former president Trump’s lies?
Here is the bottom line, if the Biden-Harris administration, and the CBC abandon “the tendency of misleading us,” when it comes to our Job rates, American workers everywhere will benefit. WHY? The nation will direct its resources towards fixing the REAL economy, as established by economists and not by a political rate. We call on the Biden-Harris administration, Democrats, and the CBC, chaired by Rep. Steven Horsford of Nevada, to Count ALL the Unemployed – Fix the REAL economy, which has a 7.1% Jobless rate for the month of August, and not 3.8%.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.