I had to rattle my brain something bad awful to jog memory of this chap, but the outstanding website Zero Hedge not only recalled him, but put his economic theory to the test. You see, Okun identified a correlation between GDP and the unemployment rate, and in doing so offered proof of data manipulation.
THE REAL UNEMPLOYMENT RATE HAS LONG BEEN OVER 12%!
All our readers should understand the information presented in this article. Shortly after election in 2009, Obama brought the Census Bureau under the direction of the White House. While most know about the efforts to reclassify voting districts to benefit Democrats, few are aware the Census, under contract from the Labor Department, conducts the household survey used to tabulate the unemployment rate.
Okun's Law Unemployment Rate/Zero Hedge
The government has been manipulating data and lying to the citizenry since the first jump in effort to pump up a recovery that does not exist. Imagine what else they lie about!
And when memory failed and written records were falsified—when that happened, the claim of the Party to have improved the conditions of human life had got to be accepted, because there did not exist, and never again could exist, any standard against which it could be tested."
In February of 2009, the Government Census Bureau was moved to the executive branch, most thought to deal with congressional redistricting. A byproduct was the reporting of misleading and fraudulent data.
Of note this week was the "discovery" of some real questionable activity with the reporting of the housing numbers, specifically new home sales. Already, we have documented erroneous data with respect to how unemployment rates are calculated. Why not extend the propaganda throughout government data? NBC will be happy to report it.
While housing is performing in certain locations, rental rates are rising due to higher demand of folks who ordinarily would be potential home buyers, giving indication the equilibrium in these markets the incorrect measurements suggests is not real.
Most of America does not have time to sift through the bull crap to figure out what is real and what is a manipulated fabrication. Therefore, most everything goes unquestioned, and when caught and reported, the level of deception is to intricate for the average person to comprehend.
As such, we get the government we deserve, one which is diminishing liberty and freedom for all of us on a daily basis, and on a much larger scale than even those who "get it" can imagine.
"When you
see that men get richer by graft and by pull than by work, and your laws don’t
protect you against them, but protect them against you–when you see corruption
being rewarded and honesty becoming a self-sacrifice–you may know that your
society is doomed" --Ayn Rand, “Atlas Shrugged”
Early in the first term, the Obama administration engaged in an effort to bring under the authority of the executive branch The Census Bureau. With most of American still immersed in their slobbering love affair with the anointed one, those tethered to common sense were puzzled at such an effort.
Most thought this effort, which was successful, would be utilized to somehow bolster election oriented results for Obama and his progressive lemmings. Surely, the administration used The Census Bureau in every way possible to help the prospects of their followers.
Perhaps many did not foresee the arena in which The Census Bureau would play an integral role; unemployment numbers. Breaking on Tuesday, we learn in a New York Post column by John Crudele that the administration has been alleged to have sought out, (demanded) the manipulation of these numbers just prior to the election.
At the time of their release, many spoke out claiming foul, but those who did, inclusive of famed CEO Jack Welch, were dismissed and discredited as not in command of the facts or extreme opponents of the president who present false accusations.
Let me be clear. The unemployment number criterion has been altered and the number presented to the public today is not the same number presented to the public twenty years ago. Please examine our previous post on unemployment, Shadow Stats and take a moment to read a recent editorial in Investors Business Daily for further clarification.
The media wont inform the public as Rick Santelli of CNBC further explains, lamenting the media for their complicit action in deceit.
There are 90 million people out of the work they desire, a simply staggering number. When job seekers exhaust a time period of search, they fall off the count which lowers the unemployment rate.
Furthermore, if the economy was improving and job opportunities were increasing, members now on the sideline would re-enter the job search and become part of the statistical pool once again. With additional workers seeking new jobs, the result would be a slight increase in the unemployment rate.
Therefore, given the minuscule growth taking place in spite of the policies of the Obama administration, the claim Obama made signaling the sudden lowering of the unemployment rate was due to an improving economy, although it sounded good when you say it fast, was yet another falsity presented by our Commander in Mistrutths.
The administration wants to give lip service to working to create jobs, but the actions thrust those able to see in another nefarious direction, one bearing witness to the crashing of our economic system.
Only in the full embrace of socialism is pay dictated by sources with no skin the game, no investment in the process and with no legal right to interject. Take for example the protests, set to be performed and orchestrated with the full support of those sharing goals with the administration, to have worker strikes at fast food restaurants where the organizers of the movement seek to demand a $15-an-hour wage for fast-food workers, which when boiled down is a transfer of wealth from "haves to have nots" Karl Marx dreamed about.
Although it is portrayed differently in the news media and by union leaders, the minimum wage is not what would be designated as a living wage; better stated, it is designed to accommodate temporary employment and not to produce an income for a head of household.
This is a basic thought process in economic theory, but an alarming number of people think it is good to raise the minimum wage. That action actually decreases employment and reduces prosperity
In the world of free market economics, pay is most often dictated by performance, and should your skills elevate your performance beyond the ability of the employer to adequately compensate, the employee advances to a higher level of employment.
As the ends justify the means in true Saul Alinsky style, engaging in the misrepresentation of the truth to the public is of little risk to an administration manipulating a trivial society drowned in a sea of irrelevance. The misrepresentation on the aspects of employment in America is one tentacle of several actions designed to encourage class struggle and divisive altercations between the haves and nave nots, culminating in civil unrest ushering in a crashing of our economic system resulting in the fundamental transformation of The United States of America.
BAHL is a REALTOR, Real Estate Investor and Residential Real Estate Appraiser in Orlando. He holds a BS degree in Economics from Florida State University.