The Entire World Is Collapsing Around Her

Saturday, February 13, 2016
By Paul Martin

KingWorldNews.com
February 13, 2016

Today one of the top economists in the world sent King World News an incredibly powerful piece that takes a trip down the rabbit hole of an intensifying global collapse. Below is the fantastic piece from Michael Pento.

By Michael Pento of Pento Portfolio Strategies
February 13 – (King World News) – The Entire World Is Collapsing Around Her

According to the Bureau of Labor Statistics (BLS), there were 151,000 net new jobs created in January and the unemployment rate fell to 4.9%. The continuing increase in job creation and removal of slack in the labor market are causing the Phillips curve-obsessed Fed to maintain a tightening stance on monetary policy…

However, not only are Federal Reserve Chairwoman Janet Yellen and Co. wrong about the progenitor of inflation, but the Fed is also obsessing about job growth that isn’t real. According to that same BLS, in December 2015 through January 2016 the economy actually lost 2,999,000 jobs, or 2.08% of the workforce. The Labor Department arrived at a positive employment number because the BLS seasonally adjusts the data.

On a seasonally adjusted basis the U.S. economy created 413,000 jobs during that timeframe. Of course it makes sense to adjust the jobs data for hiring and firing around the Christmas season. But it makes much more sense to look at the data year over year for a more accurate assessment of the labor market. From December 2014 through January 2015 the economy shed 2,820,000 jobs, or 1.99%.

The Rest…HERE

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