Isn't it wonderful how miraculously the economy has turned around this year. The unemployment rate, currently at 8.2%, continues to go down. Pretty soon, everyone will have a job. Or not.
There are a few details being left out of the mainstream media reports on unemployment. The percentage of participants in the labor force has been falling much of this decade. The measure of this is the total number of employed divided by the total population. Part of it is early retirement, part are welfare queens, and the vast majority are those dropping out of the work force.
The U.S. has now t
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