https://www.bls.gov/web/empsit/cesprelbmk.htm
The Bureau of Labor Statistics revised their numbers from 300k to -800k jobs in March.
People get mad at me when I say we need to be careful of the official numbers, this is the second largest revision of job creation in US history. The largest revision was during the great financial crisis.
I tend to think that right now we're in an era of Soviet-style hyperrealism because things are actually getting much worse for the common man in many ways, and nobody wants to be the one holding the bag and having to tell people that things actually are as bad as they feel.
I've seen quite a few politicians say it outright: "Don't tell people things are bad, they'll start acting like things are bad which will only make things worse" -- sort of like George W. Bush's stupid "The economy is crashing, keep spending no matter what" directions to the people. It's really irresponsible, and one of the reasons why both the people and the state have gotten so much weaker over the past 20 years (They're expressing more authority but the clock is ticking). Instead of pulling back which hurts the economy in the moment but helps individuals be more resilient and prepared, and instead of pulling back spending when times are allegedly "good" so you spend in the bad times and you spend in the good times, both parties shotgun money into the economy during the "good" times and then also during the "bad" times.
Bread and circuses, and the fall of an empire... Much like 1991 I'm sure.
The Bureau of Labor Statistics revised their numbers from 300k to -800k jobs in March.
People get mad at me when I say we need to be careful of the official numbers, this is the second largest revision of job creation in US history. The largest revision was during the great financial crisis.
I tend to think that right now we're in an era of Soviet-style hyperrealism because things are actually getting much worse for the common man in many ways, and nobody wants to be the one holding the bag and having to tell people that things actually are as bad as they feel.
I've seen quite a few politicians say it outright: "Don't tell people things are bad, they'll start acting like things are bad which will only make things worse" -- sort of like George W. Bush's stupid "The economy is crashing, keep spending no matter what" directions to the people. It's really irresponsible, and one of the reasons why both the people and the state have gotten so much weaker over the past 20 years (They're expressing more authority but the clock is ticking). Instead of pulling back which hurts the economy in the moment but helps individuals be more resilient and prepared, and instead of pulling back spending when times are allegedly "good" so you spend in the bad times and you spend in the good times, both parties shotgun money into the economy during the "good" times and then also during the "bad" times.
Bread and circuses, and the fall of an empire... Much like 1991 I'm sure.
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They haven't read the Stone Tablet so don't recognize the value of austerity
@sj_zero They don’t call it posthistorical hyperreality for nothing.