Prepper Recon

Jobs Data Weak- Unemployment Creeps Up to 8.3%

Today’s jobs report from the BLS or the LBS as I like to call it (Lots of Bull Stuff) showed we added .1% to unemployment from June. 8.3% is a steady move up from 8.1% in April. When you look around, you may think it seems much worse than 8.3%. You are right, 8.3% is the  U3 number which does not include people who have quit looking for jobs or those who are working part time because they can’t find full time jobs. That  jobs number is called U6 and is now at 15% which is up from 14.5% or a full half of a percent since April. Using the U3 jobs numbers instead of the U6 jobs numbers is lying at worse and sugar coating at best. The purpose is to make you feel better so you will keep consuming. If the BLS reports the real numbers, you will think there is an economic crisis coming and quit spending. As our economy is 70% consumer spending, everything falls apart when people get scared and quit spending. In fact the only thing holding our financial house of cards together is consumer confidence. When that goes, everything goes.

So what is the answer? Should they report the real numbers and cause a panic? If they did, the crash would come sooner. The sooner it comes, the sooner we can start to rebuild. The longer we wait, the larger the debt grows, the less our money is worth and the more severe the crash will be. For the people who can see it coming, the delay buys us precious time to build up our defenses in the way of cash  in case of a depression, precious metals  in case of hyperinflation, and food stockpiles in case of whatever. Do what you can, when you can to be prepared.

Here is the link to the BLS jobs numbers.