-------- Original Message --------
| Subject: | The JOBS MATH: How Many Jobs Has Bernanke Lost Since His Appointment? |
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| Date: | Tue, 23 Oct 2012 11:35:10 -0700 |
| From: | Jas Jain |
Few months ago Bernanke claimed that the Fed policies have created 2M net new jobs over the past 3-4 years. If he is right then that is after the Fed policies under Bernanke lost 4 million jobs. How come? Bernanke was appointed Chairman in January 2006 and bet. Feb'06-Sep'12 a total of 1.913M jobs have been lost.
How was Bernanke able to keep net job losses since Feb'06 to such a small number (only 2M) when conditions were fully ripe for the Greater Depression? At the cost of deficit spending by the households and the federal govt to the tune of $8Tr. over a period of 6.5+ years. In the absence of this huge cost, a bill to be paid some time in not too distant a future, the job losses under Bernanke would have been at least 10M. What it amounts to is that Bernanke and Obama have been able to buy 8M "temporary" jobs at a cost of $1M per new net job. American econo-political system is a sick system.
With the total cumulative cost of $26Tr. in consumption debt, mostly since 2001, it is a safe bet that when the depression can no longer be suppressed there would be some 26M net job losses. Can you spell the g-r-e-a-t-e-r d-e-p-r-e-s-s-i-o-n? It is getting ever closer.
Jas 
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