Jobless figures don't "cloud" the recovery. There is no recovery.

Capitalism is under assault from all directions, political, economic, public sentiment; you name it. “Jobs setback Clouds Recovery” is the headline on the Wall Street Journal’s front page this morning. “Blow to Obama as Jobless Rate Rises” says the Financial Times. According to the official statistics, the US jobless rate has risen from 9.6% to 9.8%. This “clouds” the recovery and it reveals its “fragility” says the Journal.

“Experts” are suggesting that maybe the figures could be an “aberration” given the more optimistic data over the past period. It’s an “aberration” to suggest we are in a recovery. The reality is that we are not in a recovery when it comes to the most important measure, the material well being of human beings.

We should consider an important point. The people in charge of gathering this data are the same people who are after Wikileaks founder Julian Assange for revealing all their dirty deals; their public face of lies and hypocrisy. It’s something we already know in our gut, but its not supposed to be in the public domain.

We have pointed out many times the semantics of the class struggle. The problem, the Wall Street Journal adds, is that employers are reluctant to hire because of “tepid demand” This seems to imply that workers don’t need or want anything. But for the capitalist class and their understanding of the economy, it means they can't sell commodities and make profit, so why make them?  The real issue is that they are on a strike of capital; they won’t buy Labor power (hire workers) because the potential for profit is too risky. Why not buy gold, or treasury notes? And if need be they will simply make workers work harder and longer if demand perks up which is actually what they are doing.  It has nothing to do with demand as we would understand it.

So we know that all statistics that they compile are biased in their favor, inflation, unemployment etc. The increased unemployment figures, or the headline about them will increase the likelihood of extending unemployment benefits and the Bush tax cuts for all recipients. You have to be fair, right? All sides have to be treated equally, more unemployment for workers, more tax cuts for Donald Trump. The Bush tax cut extension is the issue and it looks like Obama, in his zeal to pacify Republicans and the super rich will join the crowd.

In reality, the unemployment rate is far above their official figures. Among black males in some communities for example, it is as high as 50%. The Journal refers to 15 million people “classified” as unemployed. With “millions more on the sidelines who have given up searching for work.” What the!!! What are they doing on the sidelines? Cheering the rest of the unemployed? Aren’t they unemployed too?

An army of unemployed places massive stress on those working as the need to keep one’s job is primary and competition is fierce. Those that can’t keep up with the increased pace at work will fall by the wayside. This “reserve army” is used by the bosses to whip us in to shape, to terrorize us.

Courtesy of ShadowStats.com

The graph gives an alternate and somewhat more accurate view of the unemployment situation in the US.

They’re in bind. They are laying off workers while reducing the wages of those of us remaining which adds to the demand problem which is an inherent problem in a capitalist economy as workers are paid less in wages than the actual value we produce. They use credit to overcome this discrepancy which, as we can see, reached its limits and brought the present crisis upon us. Now they are printing more money and having us take on more debt that will have to be paid back by future generations which decreases buying power and demand further. They can’t escape this process.

Meanwhile, the Financial Times Weekend has a glossy magazine attached to it titled, How to Spend It. Here’s a pair of Giorio Amani gloves for $250. Maybe the Theriseinthal teapot for $260. Oh, here’s a nice wool cardigan for $2500 and a Lanvin wool handbag for $2700. The Patek Phillippe watch for $96,000 looks like a nice present for the holidays.

The recovery is well under way for some I guess.