imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Crisis as Permanent State

by Rainer Rupp Friday, Aug. 20, 2010 at 10:29 AM

The Federal Reserve pumped far more than a trillion without stimulating the economy. 250,000 new jobs must be created month after month to reach the 4.7% unemployment rate before the crisis. 125,000 persons stream on the labor market every month.


Unemployment in the US is downplayed with statistical tricks. No recovery of the economy in sight

By Rainer Rupp

[This article published in: Junge Welt 7/17/2010 is translated from the German on the Internet,]

In the US the number of employees declined in June 2010 for the first time in 2010. 225,000 persons hired temporarily for the big census lost their livelihood. The approval of Americans in President Barack Obama as a crisis manager, particularly his measures to stimulate the economy like the 7 billion state spending package and diverse tax relief, has largely fizzled out. According to the most recent polls, only four of ten US citizens are satisfied with Obama’s job performance.


The political will for a new economic package is lacking in the US Congress. The Federal Reserve (Fed) is also at a loss as to what to do next. Since the beginning of the crisis, it has left the key interest rate at zero percent. In addition, it has pumped far more than a trillion dollars without stimulating the economy. A self-sustaining upswing, increasing production, services, export and consumption is not in sight. Thus the task set by Obama cannot actually be accomplished. Over 15 million officially registered unemployed need wages and bread. More than half of them lost their lobs through the crisis. At the same time 125,000 persons stream on the labor market every month, which is primarily due to the demographic development. Few of them appear in the official unemployment statistics on account of the “reforms” of the statistical accounting methods.

Despite the continuous destruction of jobs, the official US unemployment rate in June 2010 fell incredibly from 9.7 percent in the previous month to 9.5 percent, which Obama tried to sell to the public as “great progress.’ However a cursory glance at the numbers shows that statistical tricks were performed here to maintain the fairy tale of economic recovery.

The decline in the official unemployment rate was almost exclusively due to the fact that nearly two million Americans “left the working population” in the last months according to the official statement. This means they simply gave up registering as job-seekers at the unemployment office after sometimes 250 unsuccessful applications or fell out of the statistics for other reasons. Statistics will be “reformed” again and again in the coming years to cover up the real extent of unemployment.

All this can be discovered in the so-called U6 tables of the US Labor Department. Presently 26 million US citizens are unemployed, which amounts to a rate of 17 percent. The number of average weekly working hours that fell to 34.1 hours in June is also revealing. This means a large part of workers have only part-time jobs, which as a rule have a lower pay than full-time positions.

Other studies show the new jobs created in the course of the economic packages pay considerably less than the jobs destroyed by the crisis. Thus an enormous loss in purchasing power results for large parts of the population that together with the economic loss in value in real estate stands in the way of a lasting increase of private demand. The latter is very important for a self-sustaining economic recovery.


Before the outbreak of the crisis, the official unemployment rate was 4.7 percent. To reach this mark again, 250,000 new jobs must be created month after month for the next five years, half of them for the age groups moving to the labor market and the others for those dismissed in the course of the crisis. In early August 2010 the Federal Reserve admitted the economy will only recover very hesitatingly in the next five years. A job miracle is in the realm of utopia.

Without flinching, US congressional representatives, most of whom are millionaires, recently approved additional funds for the expensive war in Afghanistan that has already cost 0 billion. At the same time extending assistance for long-term unemployed was actually canceled. These sufferers will also lose their health insurance protection. Two million workers are affected. Soup kitchens and homelessness threaten them and their families as soon as their modest savings – if they exist at all – are used up.

Report this post as:

Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM


lausd whistle blower A11 6:58AM

Website Upgrade A10 10:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 8:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 6:58PM

Change Links April 2018 A01 6:27PM

More Local News...

Other/Breaking News

Antrhopocène, le grand effondrement S19 9:53AM

Creative Destruction Hack Diamonds Windows/iOS/Android - Creative Destruction Generator S19 12:51AM

Abolir l'économie S18 11:18AM

The Dictatorship of Corporations S17 5:26PM

18 Lethal Consequences Of Hunting S17 3:13PM

Paraphysique de l'outplacement déontologue S15 6:51AM

Creative Destruction Hack Mod Generator S15 3:49AM

Shopping du bashing S14 8:42AM

After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again S13 8:28PM

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen S12 9:30PM

Probabilités de fin d'humanité S12 6:49AM

Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW S11 2:57AM

Propagande de virus, virus de propagande S10 7:34AM

Steer clear of work morality! S09 12:10PM

Sweatshop Lodge Ceremony Continues in US Fed Prisons Led by Inmates S08 6:17PM

Paraphysique de l'origami S08 7:11AM

The Shortwave Report 09/07/18 Listen Globally! S06 11:23PM

August 2018 Honduras Coup update S06 12:28PM

Du réussissement putréfié S06 10:55AM

Brett Kavanaugh Filled The 5th Circuit With Execution Judges S06 6:14AM

Log S06 4:25AM

Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts S05 8:29AM

Paraphysique de contextualité S05 8:29AM

Crisis Regulation in Global Capitalism S03 3:39PM

Ex-voto de réification S03 10:24AM

Please Oppose Warmonger, Execution and Torture Supporting Bush Operative Brett Kavanaugh A31 10:45PM

Paraphysique d'exploitation occultation A31 10:24PM

Ryan Zinke Is Charging Taxpayers For A Trophy Hunters' Council A31 2:10PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy