Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job

The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation. For the month of September, the federal government told us that 142,000 jobs were added to the economy. If that was actually true, that would barely be enough to keep up with population growth. Sadly, the truth is that the real numbers were actually far worse than that. The unadjusted numbers show that the U.S. economy actually lost 248,000 jobs in September and the government added more than a million Americans to the “not in the labor force” category. When I first saw that number I truly believed that it was inaccurate. But you can find the raw figures right here.


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1920-21: The Depression That Was Fixed by Doing Nothing

To combat the Great Recession and its long-lingering aftermath, leading central banks have pulled some $10 trillion out of thin air. Governments of the world’s principal economies have rung up almost $20 trillion in deficit spending. We often hear that the authorities have done too little. Perhaps they have done too much.  Not so long ago, the authorities did hardly anything. In response to the severe, little-known economic slump of the early 1920s, they virtually sat on their hands. It is an often forgotten episode that suggests the potential for constructive federal inaction—and underscores the healing power of Adam Smith ’s invisible hand.

Beginning in January 1920, something much worse than a recession blighted the world. The U.S. suffered the steepest plunge in wholesale prices in its history (not even eclipsed by the Great Depression), as well as a 31.6% drop in industrial production and a 46.6% fall in the Dow Jones Industrial Average. Unemployment spiked, and corporate profits plunged.

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