Stockman: “The single most important number…102 million” in September jobs report

Excerpts from: September Jobs: Some Numbers Bubblevision Didn’t Mention               by David Stockman • October 6, 2014

Indeed, the single most important number in today’s report is 102 million, which is the rounded sum of adults either not in the labor force or unemployed, and it amounts to 41% of the adult population. Stated differently, that’s the number of adults who do not contribute to current production and must be supported either by family breadwinners or the state—-and nowadays especially the latter.
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This means there has been a 26 million gain in the number of adults not working—-even part-time—during that 14 year period [2000 – 2014]. About 10 million of that gain is accounted for by retired workers on social security—-a figure which has risen from 28.5 million to 38.5 million during the interim. But where are the other 16 million? The answer is on disability (+4.5 million), food stamps (+25 million), survivors and dependents benefits, other forms of public aid, living in parents’ basements on student loans or not, or on the streets.

There should be no mistake about the implications of these baleful trends as once again reinforced in today’s “jobs Friday” report. They do not represent merely a social problem or the fact that Washington’s fiscal calamity is going to get steadily worse in the years ahead. They also embody an endemic economic problem and staggering challenge to the Keynesian money printing regime now incumbent in Washington.

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The employment ratio has plunged; full-time breadwinner jobs have actually shrunk; total labor hours employed have been stagnant; real GDP has grown at only 1.8% annually for 14 years—compared to 4% annually between 1956 and 1970; and real net capital investment is 20% below its turn of the century level.
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America needs a new plan – one that restores economic liberty for all Americans.
One that will lift people up out of poverty and help them off the social welfare treadmill.

America needs a plan that will generate massive debt relief at ground level – and reignite America’s economic growth engine.

The Leviticus 25 Plan 2015 – The $70,000 Solution                                                   September 2014 – Updated versionThe Leviticus 25 Plan 2015 (560)

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