How the US government creates jobs

Elected officials and Wall Street executives all have a vested interest in keeping the perception of a robust economy alive. So although the job market looks sound, can we really trust the data?

Our elected officials and Wall Street executives all have a vested interest in keeping the perception of a robust economy alive. The employment data announced each month is critical to this perception, but a thorough analysis of the data suggests something quite different to what we are told.

Since 9/11, 60 percent of job creation has related almost directly to the housing boom and consumer spending, generated from home equity extraction through mortgage refinance. Remember, the Federal Reserve cut interest rates to one percent and kicked off the greatest housing bubble of all time. The housing boom created an America with over 1,200,000 real estate agents, and hundreds of thousands of jobs in the mortgage and home construction industry.

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