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Force Majeure Markets~ How long can this Alice in Wonderland Market ignore the numbers?
The official reported U-3 unemployment rate is 9.7%, the official U-6 unemployment rate is 16% and the real unemployment rate is slightly below 22%.
http://www.shadowstats.com/alternate_data/unemployment-charts
As the current size of the American workforce is 140 Million, 22% real Unemployment means 31 million are unemployed, not 14 million.
The myth of a jobless recovery becomes exposed for what it is, corporate government Propaganda.
Cash-rich banks and corporations can trade electrons all they want at middle class consumer taxpayer expense. It will not be confused as prosperity or wealth by most.
Jobs are linked with Gross Domestic Product, GDP in the long run, a place a lot of politicians do not like to go.
The industrial elite and their lobbied representatives in Washington DC decided to import illegal or cheaper H1-B labour.
They passed laws and court decisions to subsidize illegal labour at taxpayer and worker expense.
They sent American manufacturing or outplaced service jobs to China and India for short-term competitive advantage.
They assembled foreign parts in Mexico, then booked record American sales and profits.
Then they complained about global warming and environmental degradation in UN Regional Heritage Zones.
http://en.wikipedia.org/wiki/World_Heritage_Site
MSFT was the largest employer of H1-B labour that undercut American wages while creating unreliable vaporware. As GM said, if they created cars that crashed as often as Windows, they would be out of business.
MSFT claimed every essential H1-B job created five more American jobs with additional consumer demand.
So why then did MSFT lay off H1-B workers when sales declined?
