If you only watch CNBC or any of the other regime media propaganda outlets, then you would believe the payroll report on Friday was fantastic, proving the U.S. economy is booming and all is well. Biden dummy continues to boast about the millions of jobs he has added and declare we have the best economy ever.
For anyone interested in the truth, the charts below reveal the reality of our plight. The national debt continues to skyrocket at a hypersonic speed, as our corrupt treasonous politicians keep spending money we don’t have. Meanwhile, interest on the debt has accelerated to where it exceeds defense spending and is poised to soar higher because $9.3 trillion must be refinanced in the next 12 months.
Yellen and Powell could have locked in trillions of debt at historically low rates for 30 years, but chose to roll it over on a short-term basis. These are the brilliant bankers running the Fed. They should hang.
The jobs reports are completely made up bullshit. Their ridiculous birth-death model adds fake jobs based on an excel spreadsheet and lies. Two years from now they will acknowledge their lies with a revision on a Friday night. As you can see, pretending millions aren’t in the workforce, doesn’t create jobs. In addition, the only people getting jobs are illegals and government drones. Government jobs are worthless.
The average family has hit the wall, with record credit card debt at 22% interest, declining salary increases, raging inflation, and a job market far worse than propagandized by the bullshitters at the BLS and their regime media mouthpieces. If you want fantasy, listen to the establishment. If you want reality come to TBP.
For the first time in history, annual interest payments on US national debt will overtake defense spending in 2024, according to the CBO.
It is projected that for the full Fiscal Year 2024 (FY 2024), interest spending will hit $900 BILLION.
In Q1 2024, interest costs hit $1… pic.twitter.com/0IFmlBhny7
— The Kobeissi Letter (@KobeissiLetter) June 9, 2024
How expensive is the US national debt?
The average interest rate on $34.6 trillion of Treasury debt is now 3.2%, the highest since 2010.
$5.9 trillion of the national debt is in Treasury Bills, with an average interest rate of 5.4%.
Meanwhile, a record $9.3 trillion of… pic.twitter.com/Ns9N3XBcdN
— The Kobeissi Letter (@KobeissiLetter) June 9, 2024
You can’t make this up:
The difference between the headline jobs number and the household survey hit 4.1 million in May, the largest difference in history.
The household survey is important because workers are only counted once, even if they hold more than one job.
This data… pic.twitter.com/Zi9R2lQyZG
— The Kobeissi Letter (@KobeissiLetter) June 8, 2024
The employment-to-population ratio is not only below the pre-pandemic rate but way below the pre-pandemic trend; in fact, the May reading was the same rate as Mar ’21 and indicates millions are missing from the labor market: pic.twitter.com/I6JQkuU4lm
— E.J. Antoni, Ph.D. (@RealEJAntoni) June 7, 2024
Woah – here’s another big piece of the puzzle: consumer spending went negative in Apr after adjusting for inflation, the same month that revolving consumer credit (things like credit cards) also shrunk; looks like the consumer has really hit the wall and the debt binge is done: pic.twitter.com/9YZFkTaZAM
— E.J. Antoni, Ph.D. (@RealEJAntoni) June 8, 2024
Another month, another record number of gov’t jobs, now over 23.3 million for the first time ever: pic.twitter.com/9hTgh0vOpZ
— E.J. Antoni, Ph.D. (@RealEJAntoni) June 7, 2024
