The US Economy Is Failing
Do the Wall Street Journal’s editorial page editors read their own newspaper?
The front page headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out correctly that an economy alleged to be expanding at full employment, but absent any wage growth or inflation, is “a puzzle that complicates Federal Reserve policy decisions.”
On the editorial page itself, under “letters to the editor,” Professor Tony Lima of California State University points out what I have stressed for years:
“The labor-force participation rate remains at historic lows. Much of the decrease is in the 18-34 age group, while participation rates have increased for those 55 and older.”
Professor Lima points out that more evidence that the American worker is not in good shape comes from the rising number of Americans who can only find part-time work, which leaves them with truncated incomes and no fringe benefits, such as health care.
Positioned right next to this factual letter is the lead editorial written by someone who read neither the front page story or the professor’s letter. The lead editorial declares:
“The biggest labor story this Labor Day is the trouble that employers are having finding workers across the country.”
The Journal’s editorial page editors believe the solution to the alleged labor shortage is Senator Ron Johnson’s (R.Wis.) bill to permit the states to give 500,000 work visas to foreigners.
In my day as a Wall Street Journal editor and columnist, questions would have been asked that would have nixed the editorial. For example, how is there a labor shortage when there is no upward pressure on wages? In tight labor markets wages are bid up as employers compete for workers. For example, how is the labor market tight when the labor force participation rate is at historical lows. When jobs are available, the participation rate rises as people enter the work force to take the jobs.
I have reported on a number of occasions that according to Federal Reserve studies, more Americans in the 24-34 age group live at home with parents than independently, and that it is those 55 and older who are taking the part time jobs. Why is this? The answer is that part time jobs do not pay enough to support an independent existence, and the Federal Reserve’s decade long zero interest rate policy forces retirees to enter the work force as their retirement savings produce no income. It is not only the manufacturing jobs of the middle class blue collar workers that have been given to foreigners in order to cut labor costs and thus maximize payouts to executives and shareholders, but also tradeable professional skill jobs such as software engineering, design, accounting, and IT—jobs that Americans expected to get in order to pay off their student loans.
The Wall Street Journal editorial asserts that the young are not in the work force because they are on drugs, or on disability, or because of their poor education. However, all over the country there are college graduates with good educations who cannot find jobs because the jobs have been offshored. To worsen the crisis, a Republican Senator from Wisconsin wants to bring in more foreigners on work permits to drive US wages down lower so that no American can survive on the wage, and the Wall Street Journal editorial page editors endorse this travesty!
The foreigners on work visas are paid one-third less than the going US wage. They live together in groups in cramped quarters. They have no employee rights. They are exploited in order to raise executive bonuses and shareholder capital gains. I have exposed this scheme at length in my book, The Failure of Laissez Faire Capitalism (Clarity Press, 2013).
When Trump said he was going to bring the jobs home, he resonated, but, of course, he will not be permitted to bring them home, any more than he has been permitted to normalize relations with Russia.
In America Government is not in the hands of its people. Government is in the hands of a ruling oligarchy. Oligarchic rule prevails regardless of electoral outcomes. The American people are entering a world of slavery more severe than anything that previously existed. Without jobs, dependent on their masters for trickle-down benefits that are always subject to being cut, and without voice or representation, Americans, except for the One Percent, are becoming the most enslaved people in history….
Is it possible? How many soldiers see the transnational banksters in 3 piece suits behind their commanding officers? Probably not many.
Warning: Some people may find the information in this article disturbing and the images graphic.
Every year, some infants are circumcised. During this surgical procedure, part of the child’s protective penile tissue is removed. This tissue removed from his penis may be sold to companies and institutions seeking the rich human fibroblast cells and other cells it contains. Most people are unaware that for decades, vaccine companies have been using these foreskin cells to research, grow and develop vaccines.
Certain microorganisms used by vaccine companies need living human cells to replicate. The cells within foreskin are being used for this purpose. Foreskin cells can be used to turn a wild-type microorganism found in nature into a genetically modified microorganism for use in vaccines.
Baby foreskins are used to research rubella, varicella and human papillomavirus (HPV) vaccines. They are used to make cytomegalovirus vaccines, which is something pharmaceutical companies have been working on the last few decades. This vaccine is being created using foreskin cells and clinical trials have already begun. The child’s DNA whose foreskin was used to make the vaccine cannot be fully removed from the vaccines prior to administration. Researchers are also using foreskin to create a human telomerase reverse transcriptase (hTERT) immortalized cell line for use in vaccines.
Cells isolated from infant foreskin are preferred because the infant cells have a longer lifespan than those isolated from adult foreskin. The ongoing issue with companies using infant foreskin to develop vaccines and other products is vast; only a small fraction can be discussed here. It is important to research how vaccines are made prior to receiving them, if you want to avoid unwanted contaminants in your body.
What we call foreskin is actually part of a whole skin system in both males and females. During the male circumcision procedure, twenty to fifty percent of the skin that protects the baby’s penis is surgically removed, with or without pain medicine. There are occasions where surgical accidents happen and more is removed.
If a hospital or clinic obtained consent to use the foreskin for purposes they felt were desired, the removed foreskin may then be sold at that point, even if the baby didn’t survive.
Each hospital or clinic determines what can happen to the excised piece of skin. It may be discarded as biological waste, sent home with the parents who want to save it, or it may become the property of the hospital or clinic to further use for what they deem necessary, if a consent form was signed agreeing to this….
The vaccine contaminants include DNA fragments from the foreskin itself, which can lead to homologous recombination, insertional mutagenesis and genetic mutations in the recipient. http://thoughtcrimeradio.net/2015/11/reprise-vaccines-autism-fetal-cells-and-homologous-recombination/
I’ll spare the reader the gruesome photos of the procedure and the extensive patents, trafficking and corporate profits to be made from it. Nothing worse than what you’d see in a slaughterhouse, except what is being slaughtered is the child’s best hope for happiness and fulfillment as an adult. It might be more humane to just kill them, but then you’d have to deal with the psychological impact on the doctor, who after all needs to maintain his own rationalizing framework for participating in such sadistic cruelty. Medical education includes a heaping dose of brainwashing. Best not to throw that very expensive investment away.