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Why Job Growth is Falling Short of White House Claims

Most Americans are so dissatisfied with the economy that they believe the nation is already in recession, despite the Biden administration's reassurances of robust job growth. However, new data from the Federal Reserve Bank of Philadelphia paints a far grimmer picture, showing recent job growth has been 80% less than previously estimated.

The Bureau of Labor Statistics (BLS) reported an annualized job growth rate of 1.6% for the last quarter of 2023. But the Philadelphia Fed, using more comprehensive data, revealed a much lower growth rate of just 0.3%. This staggering discrepancy means over half a million jobs reported by the government simply don't exist.

Even more alarming, previous quarterly reports also indicate significant overestimations in job growth, suggesting a chronic issue with the reported figures. This reveals a labor market in far worse shape than the headlines suggest.

Additionally, other critical economic metrics are similarly misleading. For example, the consumer price index (CPI), used to measure inflation and cost of living, is drastically underestimating the real burden on Americans. While the monthly mortgage payment on a median-priced home has skyrocketed by 119.5% since January 2021, the CPI claims shelter costs have only risen by 22%.

These massive discrepancies between official data and the reality experienced by Americans suggest that the economic reports are dangerously out of touch. The significant gaps between reported figures and public perception call for urgent scrutiny, as the misleading data obscures the true state of the economy. When job growth is grossly overestimated and the cost of living severely underestimated, the public's eroding confidence is not just understandable—it's justified. Read More.

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Putin and Kim Sign Agreement Pledging Mutual Defense in Case of Attack

Russia's President Vladimir Putin and North Korea's Kim Jong Un have signed a chilling new strategic partnership, raising alarms worldwide. Putin is touting it as a "breakthrough document," and Kim hails it as the "strongest ever treaty," promising to hasten a "new multipolar world." However, the BBC describes the pact as an "ominously ambiguous commitment" between "pariahs in arms," stoking fears of escalating global instability.

The agreement, centered on mutual aid if either country faces aggression, lacks clear details but suggests a terrifying new axis of power. This alliance, forged during Putin's first trip to North Korea in 24 years, is a blatant show of defiance against the West and US-led sanctions. Putin claims the pact is defensive, promising "mutual assistance" and marking a "new level" in their relations, but the implications are deeply unsettling.

Kim, during the visit, declared unwavering support for Russia's war in Ukraine, intensifying fears of further conflict. Putin, in return, thanked Kim for his steadfast support, framing their alliance as a resistance against Washington and NATO's "hegemonic and imperialist policy." Reports indicate North Korea has already supplied Russia with hundreds of thousands of artillery shells for the brutal war in Ukraine, where Russia's artillery fire rate dwarfs Ukraine's by ten to one.

The visit was marked by ominous displays of unity and opulence. Both leaders attended a gala concert and took a drive in a luxury Aurus limousine, gifted by Putin to Kim, a stark symbol of their alliance. The Russian delegation, arriving with a massive entourage and five Il-76 cargo planes, underscored the gravity of the occasion. Kim met Putin at the airport with grand ceremonies, and their motorcade rolled through streets adorned with giant Russian flags and portraits of Putin, signaling a dark new chapter in global geopolitics. Read Now.