Billionaires Warn on Crippling Recession and Unemployment

• Author: Monica Jackson
• Posted: 2024-09-02

Most people in America know by now that the federal government has been lying about America's unemployment numbers. You will not see it talked about a lot on the mainstream corporate media shows, or circulating around social media, but the story broke in a big way two months ago. The government got caught fudging numbers, and in a big way. However, this is also the same government that looked Americans directly in the eyes and told them, "If you get vaccinated, you will not contract COVID." What happened as a result of that ending up being untrue? The same people looked you directly in the eyes again and claimed that they never said that. It's the same sort of general theme happening with unemployment, where they've been caught but just keep pushing it. Some billionaire business-people in America are calling the government out, however, and warning of a massive recession and record-breaking unemployment.

To be clear, knowing all the available facts now, America is already dealing with record unemployment. The numbers are far closer to 20% than 6%, once you take into account that the current administration stopped counting people as unemployed if they're not drawing an unemployment check, and also implementing an Obama-era statistical trick whereby people are not counted as unemployed if they're not actively seeking work. So the unemployment that billionaires are warning about could threaten to push upwards to 30% and higher, part of a recession that could very well slip into a depression.

David Rubenstein stated that with tech valuations falling and unemployment rising, America's current economy could be completely collapsing. He stated that the Fed is going to have to force unemployment (true unemployment, not cooked books) to get below 6% and get inflation down, or America is in for a nightmare. He's not the only one who's been warning Americans of such things. Elon Musk, who recently purchased Twitter, has also warned people quite a few times that America could seriously be slipping into something very dangerous. Think what you will of these figures, but these are men who are wildly successful and who know a lot about economics. Many Americans trust their opinions over some regime politician who majored in political science

The real picture of unemployment is a wild and scattered mosaic of various factors, none of which are talked about honestly by any politician or anyone in the mainstream corporate media. You have millions of open positions that have caused a labor shortage. There are an estimated 9 million people who have simply walked out of their jobs because working 40-hour weeks still doesn't help them pay their bills in this inflated economy. Then you have the official numbers pushed by the government that doesn't mention any of this. Employment is the backbone of the economy. In a strict mathematical sense, if unemployment were truly hovering around 6%, inflation wouldn't be nearly as high as it is now, because that would mean the economy is operating on circulated money that exchanges hands based on labor and commerce.

As it stands, the economy is mainly running on money that the Fed printed during the COVID pandemic, and so this is causing the actual Dollar to deflate, which has the effect of causing prices to inflate.
 

A New Year Coming, Bringing the Same Challenges

What really keeps consumer confidence so low and so many in a panic is that there aren't any new policies or political measures being proposed by the Joe Biden administration. You don't have to side for or against the man and his administration to admit that he is not proposing anything of note for Americans. Right now, his biggest plans (and only plans, to be clear) involve holding a conference on antisemitism in America. Before that, he was holding conferences claiming that White supremacy is America's biggest threat. Even if this were true, the average American is struggling financially. They don't really care that fringe lunatic groups might say mean words to people over the Internet. They really don't care.

Congress isn't any help either, especially the House of Representatives. Democrats lost their majority, and so they're in a lame duck session where you're not even hearing from them at all now. They have nothing in the works to help the American people. In fact, the only truly political thing about which America's politicians are speaking now is how they have to keep funding Ukraine to fight a war against Russia. As for America's economic health, none of them have the slightest idea what to do.