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Bombshell: The US Spent $20 MILLION Per Job Created From 2008 Onward

June 5, 2017

Since 2008 the financial media has been proclaiming that the US was in a “recovery.” This argument was used to justify the insane monetary policy of the Federal Reserve, which maintained ZIRP for seven years and spent over $3 trillion in QE.

Well, it turns out there was no recovery to speak of when it comes to jobs.
According to a report posted on Friday, an incredible 93% of ALL jobs created since 2008 were in fact… based on accounting gimmicks.

Yes, 93% as in more than 9 out of 10.

Source: Morningside Hill Capital Management.

The Implications Of This Are Astonishing…

First of all, the “recovery” was made based on a spreadsheet, not reality.

We've long suspected this. After all, how can the unemployment rate be below 5% when some 94 MILLION Americans are not working?

Second of all, the US doubled its debt load during this time period. Previously I’d noted that when you account for all of the debt added to the public’s balance sheet form ’08 onward, the US had spent something like $900K per job created.

But now, it turns out that even 93% of those so-called jobs were fake. So the US spent… $20 MILLION per job created.

Yes. $20 MILLION. Per job Created.

And that was a so-called recovery which prompted stocks to break out to new all-time highs!

A Crash is coming... and it's going to horrific.

And smart investors will use it to make literal fortunes from it.

To pick up a FREE report outlining how to profit from the coming crash...

CLICK HERE NOW!

Graham Summers
Chief Market Strategist
Phoenix Capital Research

Graham Summers is Chief Market Strategist for Phoenix Capital Research, an independent investment research firm based in the Washington DC-metro area with clients in 56 countries around the world.

Graham’s clients include over 20,000 retail investors as well as strategists at some of the largest financial institutions in the world (Morgan Stanley, Merrill Lynch, Royal Bank of Scotland, UBS, and Raymond James to name a few). His views on business and investing has been featured in RollingStone magazine, The New York Post, CNN Money, Crain’s New York Business, the National Review, Thomson Reuters, the Glenn Beck Show and more.


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