Larry Johnson isn’t one to mince words. If he were better known there might be outrage over these. He was making a similar point to mine – that if you use President Obama’s numbers there are six million people missing from the job rolls (I said 5). He compared that number to the estimated 6 million slain in Nazi operated death camps in WWII and called the labor economy President Obama’s Holocaust.
Some would undoubtedly find that over the top, probably in an effor to detract from the reality. The reality is the economy is in hideous shape and is not getting better. The current administration has done exactly nothing to fix it and the latest rounds of hot air don’t help.
If you don’ t think it is that bad consider this:
There are economists who say growth is the only real economic issue because a rising tide floats all boats. Here we have numbers suggesting anemic growth, and if Denninger is right, really awful internals that suggest much worse on the way.