Welcome to the Third World- Watching the U.S. Economy Crumble

[sintax]

Good News! Soon You'll No Longer Need an Expensive College Education to Work in the US

Watching the Economy Crumble

By PAUL CRAIG ROBERTS

The US continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics’ July payroll jobs release.

The media gives a bare bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises.

Of the new jobs, 26,000 (about 13%) are tax-supported government jobs. That leaves 181,000 private sector jobs. Of these private sector jobs, 177,000, or 98%, are in the domestic service sector.

Here is the breakdown of the major categories:
• 30,000 food servers and bar tenders;
• 28,000 health care and social assistance:
• 12,000 real estate;
• 6,000 credit intermediation;
• 8,000 transit and ground passenger transportation;
• 50,000 retail trade; and
• 8,000 wholesale trade.

http://www.counterpunch.org/roberts08092005.html

[stepnw1f]

1. The Clean Up Crew is in Effect Employing What's Left

Things are going to get rough.

[Digit]

2. Of course the media does not go into these details....

Gotta keep the sheeple stoopid.

[SouthernDem2004]

3. The complete stats if you are interested or really bored: :)

http://www.bls.gov/news.release/empsit.nr0.htm

[OxiLimbaugh]

4. What do we have left in America anyway?

Everything was sent overseas. All we have left is retirees spending their retirement. That is about the only source of money I can think of.

[sintax]

5. We've got Amtrak

We've got Drive-In Movies

We've got Wonderbread

We've got Mickey

We're fooked.

Welcome to DU

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