As we wake tomorrow we’ll have an update on where the BLS payrolls report will come in. My prediction - it won’t be pretty.
Recall that this report just last week was revised DRAMATICALLY going back to March 2023. 818K patrolled jobs were not in fact there at all.
Yesterday, the JOLTS data is out and it does not paint a pretty picture.
This next chart I'm going to give you is pretty cool. Or frightening depending on what your viewpoint is. But I was able to zero out the starting number of the Schulze report for job openings and compare 2021 to 2024 with two scenarios. I wanna hear from you below which one do you think is most probable.
Some say that history or pizza itself, but I think it rhymes.
SCENARIO 1 :: 2021-2024 vs. 2006 - 2010+ → in this scenario, we line up 2021 with 2006. Jobs are openings peak in 2007/2022 and start on their way down. If history is any measure than jobs may start picking up by the end of the year.
SCENARIO 2 :: 2021-2024 vs. 2007 - 2011+ → in this scenario, we line up 2021 with 2005. 2008/2024 are the years in a pattern which would mean… this is ONLY the beginning.
TELL ME WHAT YOU think below! Opening this up for all takers.
Wow! My late husband, Sean Gervasi was an economist, but he never finsihed his book because he worked for liberation movements in Africa, and died in Belgrade in 1996 trying to prevent what happened in Yugoslavia ( read: https://www.globalresearch.ca/why-is-nato-in-yugoslavia/21008)
But he studied economics at Oxford and Cambridge and Cormell. His theory about the economy was basically back to the primacy of commodities. The number of commodities produced under capitalism experienced periodic "depressions" because capital produced too many of them and because of the low wages of workers and the low prices farmers were paid for the commodities they produced, there came to an end for one wave of commodity production after another. ( vis: US "panics" of 1807, 1837, 1857, 1873,1893, 1913-14, 1930-40... and only the creation of the Military Industrial Complex has been promoting and profiting capital until now. . He predicted, in the 1960s-1970s that the monster wave of world commodity production would suffer the same ending, but in such a spectacular way it could not be re-started again. And this was before people had to borrow such large sums to buy houses, cars, and college educations. From this , there can be no revivication of capitalism. Add now to this the ending of US hegemony and the creation of BRICS, which is growing in number, an anti-imperialist necessity for people all over the world. Nations need to reclaim their natural resources and China and Russia are backing them up. And the future of US...and all other predatory nations...is bleak. What you have demonstrated here is the beginning of the end. I think the bourgeoisie knows it. Elections in the US will change nothing. The economy is about to have the Greatest Depression.
This is why I totally agree with the Repulibcan plan to shut down all the 3 letter agencies at the Federal level. They are all corrupt or incompetent or both! We know FDA, CDC, and NIH are just marketing arms for Pharma. BLS has turned out to be a marketing arm for Biden and the Democrats (or maybe they are just too stupid to do their jobs). Every agency is corrupt, and controlled by the very industry it's supposed to be regulating. Shut them all down!