TDPS: What you aren't being told about unemployment numbers - TRANSCRIPT

[celtics23]

Run time: 02:55 https://www.youtube.com/watch?v=ne_d0jzbMAY   Posted on YouTube: March 11, 2011 By YouTube Member: MidweekPolitics Views on YouTube: 689   Posted on DU: March 15, 2011 By DU Member: celtics23 Views on DU: 415

 
From: www.davidpakman.com | Subscription: www.davidpakman.com/membership | YouTube: www.youtube.com/midweekpolitics

The other thing is that just to keep up with population growth, this is not being mentioned almost anywhere, ladies and gentlemen, to keep up with population growth, we need 100,000 new jobs a month, OK? So creating 192,000 jobs in February really means there's 92,000 unemployed people who've found new jobs, because we've got 100,000 new people every month, roughly, entering the workforce. So if we look at the average from November, when job growth started again, 136,000 jobs a month. 100,000 a month of that, Louis, is just to account for people graduating, people entering an age where they work.

Louis: Right.

David: And then there's those who have been unemployed for so long and they have no prospects, they've stopped looking altogether, OK? And these are called marginally attached to the workforce. It's about 2.73 million. If you add them into the unemployed, our unemployment rate right now is between 16% and 18%. Just imagine if we were actually reporting that more in the corporate media and Washington had to deal with it. It would be a very different situation.

But don't fear, Louis. Billionaires did great in 2010.

Louis: Oh, of course.

David: The most recent billionaire's list breaks two records, total number of people on the list, which is now 1,210, and combined wealth, $4.5 trillion. And this actually surpasses the gross domestic product of Germany altogether. Richest man in the world now is Mexico's Carlos Slim, added $20 billion to his fortune in 2010.

And what's amazing is that a lot of this, it's not amazing, but much of this is happening in the Asia-Pacific area. So not only are we seeing continued inequality in distribution of wealth in the U.S., it's starting to rise in other parts of the world. What will the results be?

Louis: Who is this Carlos guy?

David: He owned for a while, remember CompUSA?

Louis: Yeah.

David: For a while, he owned a lot of that. He owns mobile phone businesses, I believe. He has a whole suite of interests.

Louis: Never heard of him.

David: Really?

Louis: Nope.

David: Yeah, I know. He's been on my radar. He's kind of an interesting guy. Owns a lot of American businesses, absolutely, for sure. So again, the question has to be asked, as inequality goes up, will the situation improve for the middle class, will the middle class disappear altogether? Things we have to keep an eye on.

Let's take a break. Make sure you like us on Facebook, www.Facebook.com/DavidPakmanShow. We'll be back after this. I want to talk about green cars and hybrids, and some misleading new studies surrounding them. Stay tuned.

Announcer: The David Pakman Show at www.DavidPakman.com.



Transcript provided by Alex Wickersham and www.Subscriptorium.com. For transcripts, translations, captions, and subtitles, or for more information, visit www.Subscriptorium.com, or contact Alex at [e-mail].

[donthebun]

1. Excellent reporting as usual

[xchrom]

2. recommend

[Enthusiast]

3. Unemployment levels

will remain high until the far right wing legislation agenda is achieved -lower wages and dangerously reduced levels of regulation and oversight.