America’s Hidden Jobless Rate is a Product of This Conspiracy
By Daily Bell Staff - June 06, 2016

Trump … said he thinks the jobless rate is close to 20 percent and not the roughly 5 percent reported by the Labor Department. And, of course, Crudele reported, anyone who buys the 5 percent figure is a “dummy,” according to Trump. This, in a nutshell, is typical of the usual economic conspiracy theories we have discussed in the past. -Bloomberg

Good for Trump.

The jobless numbers are actually part of a much larger mainstream “conspiracy” (as Trump would put it) that goes the heart of the way economies work in 21st century America.

There are something like 100 million Americans not working, including older people and young people. That’s a fairly well accepted statistic.

These people are not counted in the “jobless” figures though in fact they may want to work.

They may be working as a matter of fact. It is impossible to tell because they probably work in the gray or black economy.

The gray or black economy in the US is very large because of invasive taxation and heavy-handed regulation.


Like much demagoguery, [Trump’s accusation] oversimplifies. This much is true: The employment data is complex. The average layperson with little or no economic background is likely to find it confusing.

It is true that many people have been unhappy with this recovery. While there are lots of boom towns and growth is strong in many industries, they are not evenly distributed throughout the country. That is the nature of slow recoveries from credit crises.

But Trump ignores these facts and goes down the path of several thoroughly debunked conspiracy theories.

The article then goes on to claim that the government provides a variety of statistics that are not widely reported.

If Trump would simply investigate more thoroughly, he would find the real data.

In fact, the editorial suggests the true rate of unemployment when everything is considered is around 10 percent.

But as we have often pointed out, the US does not even have a “real” economy.

The economy itself is distorted by judicial decisions implemented by force.

These decisions include giving corporations “corporate personhood” that allow the controllers of corporations to hide behind a legal shield.

Then there is the growth of intellectual property rights that brings the force of the state to bear on behalf of inventors.

These inventors don’t have to protect their own creations: The state will do it for them.

Finally, there is monopoly central banking. Great surges of fiat money empower the largest corporations while causing cyclical recessions and depressions.

The idea that the US – or other countries in the West – have anything approaching a free market is contradicted by these broad judicial decisions.

What would a real free-market economy look like?

It would be one where corporate leaders are personally responsible for the behavior of their companies.

And one where intellectual property rights would be enforced by individuals rather than the state – if they could be enforced at all.

It would be one that ran on private money, not fiat debt notes printed by monopoly central banks.

Allow the marketplace to function as it should rather than as the state requires, and people would likely find opportunity as they wished within far more vibrant, local circumstances.

The current system creates fabulous, multinational corporations employing hundreds of thousands too build often-useless consumer items … then laying off as “business” warrants.

In a real economy, most enterprises would be far smaller and less ambitious. Size would be achieved by partnerships not formal corporate structures. Goods and services would be more necessary and less fanciful.

Again, employment might be not be an issue given that people would be working for themselves or for local enterprises.

Conclusion: It is the force of the state that creates the overwhelming bigness of multinationals – to the detriment of smaller corporations and entrepreneurs. That’s the real employment “conspiracy”.

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  • apberusdisvet

    Of course, in Obama’s “recovery”, there are many lies. Inflation @ 0.8%? See instead the Chapwood Index, which uses real data from 50 metro US areas, and shows 7-10% (compounded) for the last 5 years. No wonder your discretionary grocery money has disappeared. 80/20 hamburg @ 1.88/lb in 2011; now over $4.00/lb. Rents up an average of 8% annually since 2012. And let’s not forget about Obamacare premiums and deductibles. GDP: given the foregoing, inflation adjusted GDP has been actually NEGATIVE for the past 5 years. All these statistical lies are out there folks, but too few are aware.

    • RJ

      OBAMA… he is not even legally president and they all know it. Wake up…They (the powers that should not be) are about ready to slip the noose around our necks. Some have willingly accepted the hook in their jaws by which to handle their own demise…BREAD & CIRCUS. Obamacare?- I WILL DIE FIRST! Call Bruce Jenner, Michael Obama or Serena Williams women? Not just NO BUT HE’LL NO!- I will not bow to their idols or their ideology. NEVER I WILL DIE HAPPY KNOWING I STAYED TRUE TO THE COMMANDMENTS WRITTEN ON MY HEART!

  • chthompson

    Never trust the regime or its liars about anything including economic data.

  • wrusssr

    220 million working age adults

    94 million working age adults that are not working

    4.7% unemployment a/o June 3, 2016

    I must be plugging in the wrong formula . . . let’s see, if I divide . . .

    Given the expecting moms and stay-at-home’s, ShadowStats has a pretty good look at the unemployment picture a/o May 2016, IMO.

    • RJ


  • William

    “The economy itself is distorted by judicial decisions implemented by force.

    These decisions include giving corporations “corporate personhood that allow the controllers of corporations to hide behind a legal shield.”

    Glory be! TDB admitting, after all these years, that corporations are a big mistake. Who woulda thunk it?

    Note that Wall Street didn’t go bad until the partnership investment banks became corporations. Then, Katie bar the door!

    I would like to know how TDB proposes individual inventors protect their intellectual rights. Sue bigger players forever? No one in their right mind would bring any invention to the market without protection. It sometimes take years in court as it is. See the recent movie ‘Joy’.

    • You must be a new reader. For years we’ve been pointing out that the current corporate paradigm is enforced by judicial power. As for intellectual property rights, we don’t believe that the US federal government ought to enforce them. If people want intellectual property rights, they ought to defend them themselves. Also, Wall Street went bad after the Civil War. We’re a libertarian publication. We believe in freedom.

      • John

        “the current corporate paradigm is enforced by judicial power”

        Exactly – The Scribe/Lawyers From The Lawyers Guild Have Taken Over All Three Branches Of Government & We No Longer Have Separation of the Three Branches – They Are ONE.

        The Obama’s Are Both Scribe/Lawyers & The Clinton’s Are Both Scribe/Lawyers.

  • Praetor

    A world based on debt and lies! I wonder how long that world will last.

    I started a business in the early 90s it seemed expensive then, but that was the 20th century. The so called, protectors of society where asking for a smaller kickback at that time.

    Looking at the 21st century, to start a business, you would need a basement full of money just to get to the point of opening the doors. You could call the present economic system an, ‘anti-competition vacuum cleaner’, suck-up all the monies before they can even produce one red cent of profit. If the person is determined, they can go on hand and knee, begging for debt from the biggies of bigness. And over time you’re sucked-up into their vacuum cleaner called debt repayment.

    Its an amoral and immoral system. This kind of system never last. This is why so many are dissociating themselves from the system. They have moral character!!!