Infinite Money + Zero Work = Labor Shortage 210910
September 10, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 9/10/21
The U.S. economy is currently suffering a labor shortage! I contend that this labor shortage is caused by the corrupt U.S. Government fraudulently printing an infinite amount of counterfeit money and giving it to the U.S. upper class so more and more Americans do not have to work for a living!
Reuters.com Macro Matters
U.S. job openings hit record high as employers struggle to find workers
September 8, 2021
By Lucia Mutikani
A restaurant advertising jobs looks to attract workers in Oceanside, California, U.S.,
May 10, 2021. REUTERS/Mike Blake/File Photo
Job openings increase by 749,000 to 10.9 million
Hiring slips by 160,000; layoffs edge up 105,000
WASHINGTON, Sept 8 (Reuters) - U.S. job openings raced to a new record high in July while layoffs rose moderately, suggesting last month's sharp slowdown in hiring was due to employers being unable to find workers rather than weak demand for labor.
The Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also showed a steady increase in the number of workers voluntarily quitting their jobs, a sign of confidence in the labor market.
"This is a super tight job market," said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. "The ongoing struggle to find the right worker for the right role continues."
Job openings, a measure of labor demand, jumped 749,000 to 10.9 million on the last day of July, the highest level since the series began in December 2000. It was the fifth straight month that job openings, which have been increasing since January, hit a record high.
When the corrupt U.S. Government is printing an infinite amount of counterfeit money, the American worker has little real incentive to find a job!
That is why I say that in the limit condition Infinite Money will cause Zero Work!
The corrupt U.S. Government is in the process of fraudulently borrowing an infinite amount of money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class so the U.S. upper class certainly has no incentive to work! The corrupt U.S. Government has continued to sweeten the U.S. Government benefits so more and more people have benefits that exceed what they could make by working so they are not looking for work!
The corrupt U.S. Government has created a new and fraudulent currency that I call the imaginary-counterfeit dollar that is produced by the GAAP basis deficit spending of the current fiscal policy! The corrupt U.S. Government prints an imaginary-counterfiet dollar by fraudulently borrowing it from the future Americans and giving it to the U.S. upper class by undertaxing them! The corrupt U.S. Government is committing a fiscal and accounting fraud by not using proper accrual accounting!
The imaginary-counterfeit dollar looks like a real dollar, acts like a real dollar, but is not a real dollar! It does not exist (imaginary) and it has no value (counterfeit) because it has been produced by an accounting fraud that is borrowing it from the future Americans and giving it to the U.S. upper class when the corrupt U.S. Government knows good and well that the future Americans can never pay it!
So far, this fiscal and accounting fraud has printed $156.3 Trillion of imaginary-counterfeit money and given it to the U.S. upper class!
The imaginary-counterfeit dollar is masquerading as a real dollar!
The U.S. upper class is spending monopoly money to buy the same stuff that the working U.S. general public has to buy with real money that is earned by expending labor by performing a valued task or by producing a product that has a precieved value to the buyers!
The U.S. working class is getting sick and tired of working for a minimal wage when the corrupt U.S. Government is printing an infinite stream of imaginary-counterfeit money (monopoly money) by borrowing it from the future Americans and giving it to the U.S. upper class!
The U.S. upper class is spending imaginary-counterfeit money (monopoly money)!
The U.S. working class is spending real money!
The U.S. upper class has been given an estimated $156.3 Trillion of monopoly money (US Unfunded Liabilities (GAAP)) and is getting an estimated $49.2 Billion more monopoly money every day with ongoing GAAP basis deficit spending!
There is not much incentive for the U.S. working class to work when the non-working upper class is getting paid Trillions and Trillions of monopoly money by doing nothing!
The U.S. upper class has gotten to be the U.S. upper class because the corrupt U.S. Government has fraudulently borrowed monopoly money (so far $156.3 Trillion) from the future Americans and given it to the U.S. upper class by undertaxing them!
The U.S. general public is going to be MAD-AS-HELL when they find out how the U.S. upper class has gotten rich! The corrupt U.S. Government really likes the U.S. upper class a whole lot more (at least $156.3 Trillion more) than it likes the U.S. general public!
The corrupt U.S. Government is “cooking the books” by not operating its fiscal policy with proper accrual accounting (GAAP Accounting) and as a result is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of printing an infinite amount of counterfeit money, I call it imaginary-counterfeit money, by fraudulently borrowing it from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
The following chart gives a graphical projection of how the corrupt U.S. Government, with the current Ponzi scheme fiscal policy, could fraudulently borrow over a Quadrillion dollars (a thousand Trillion dollars) of imaginary-counterfeit money from the future Americans by 2041 and give it to the U.S. upper class!
When USAPonzi implodes, this imaginary-counterfeit money will evaporate, and Planet Earth will fall into The Greatest Depression!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org September 10, 2021
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my websites in pdf format.
My commentary Fed-Asleep At The Switch 210901 gives a summary of the issues that this Ponzi scheme/accounting fraud is causing!
John W. White