Tuesday, July 18, 2017

Even the Fed Now Admits to a Crashed Job Market, Negative Employment Prospects Causing Epidemic of Opioid Use

(BBCWidespread opioid abuse is tied to a fall in the share of Americans working or looking for work, the head of the US central bank said on Thursday.

Related Article: Mainstream Media Finally Admits Cannabis Can Curb Opioid Epidemic

Source - BBC

by Staff Writer, July 17th, 2017

US opioid abuse ‘linked to jobs market’ says Fed boss

Federal Reserve Chair Janet Yellen said she was not sure if it was a cause of the decline or a symptom revealing more longstanding economic problems.

Technological changes and an ageing workforce also contributed, she said.

The Centers for Disease Control (CDC) estimate that prescription drug abuse costs $78.5bn (£61.5bn) annually.

This is due to costs related to health care, lost productivity, and criminal activity.

About 91 Americans die every day after overdosing on opioids.


The grandparents’ burden: ‘We don’t resent the kids – but life’s hard’

“I do think it is related to a decline in labor force participation among prime-age workers,” Ms Yellen said after a question from Senator Joe Donnelly, a Democrat from Indiana.

“I don’t know if it’s causal or if it’s a symptom of long-running economic maladies.”

Ms Yellen also noted that the US has seen an unusual rise in its death rate.

“It’s obviously a very serious and heartbreaking problem,” she said.

It was Ms Yellen’s second day of testimony before lawmakers, who asked questions about monetary policy, prospects for economic outlook and other issues.

Economists have puzzled over the fall in labor force participation rates, the share of people working or looking for work.


For the over-16 civilian population, they have declined from a peak of about 67% in the late 1990s to less than 63% today, according to the US Bureau of Labor Statistics.

Among men, the rates have fallen from about 80% in the late 1960s to less than 70% today. They have risen among women from about 42% to nearly 57% during that time.

Ms Yellen on Wednesday said she believed an ageing population was a major factor in the overall decline.

She also said men with less education had been particularly affected by technological changes that reduce jobs in some industries.

Some economists also argue that video games are to blame.

Ms Yellen’s remarks came on the same day that top US prosecutor Jeff Sessions announced charges against more than 120 people, including doctors, related to prescription drugs.

The charges were part of a more sweeping crackdown on Medicaid fraud.
Stillness in the Storm Editor's note: Did you find a spelling error or grammar mistake? Do you think this article needs a correction or update? Or do you just have some feedback? Send us an email at sitsshow@gmail.com with the error, headline and urlThank you for reading.
Question -- What is the goal of this website? Why do we share different sources of information that sometimes conflicts or might even be considered disinformation? 
Answer -- The primary goal of Stillness in the Storm is to help all people become better truth-seekers in a real-time boots-on-the-ground fashion. This is for the purpose of learning to think critically, discovering the truth from within—not just believing things blindly because it came from an "authority" or credible source. Instead of telling you what the truth is, we share information from many sources so that you can discern it for yourself. We focus on teaching you the tools to become your own authority on the truth, gaining self-mastery, sovereignty, and freedom in the process. We want each of you to become your own leaders and masters of personal discernment, and as such, all information should be vetted, analyzed and discerned at a personal level. We also encourage you to discuss your thoughts in the comments section of this site to engage in a group discernment process. 

"It is the mark of an educated mind to be able to entertain a thought without accepting it." – Aristotle

The opinions expressed in this article do not necessarily reflect the views of Stillness in the Storm, the authors who contribute to it, or those who follow it. 

View and Share our Images
Curious about Stillness in the Storm? 
See our About this blog - Contact Us page.

If it was not for the gallant support of readers, we could not devote so much energy into continuing this blog. We greatly appreciate any support you provide!

We hope you benefit from this not-for-profit site 

It takes hours of work every day to maintain, write, edit, research, illustrate and publish this blog. We have been greatly empowered by our search for the truth, and the work of other researchers. We hope our efforts 
to give back, with this website, helps others in gaining 
knowledge, liberation and empowerment.

"There are only two mistakes one can make along the road to truth; 
not going all the way, and not starting." — Buddha

If you find our work of value, consider making a Contribution.
This website is supported by readers like you. 

[Click on Image below to Contribute]

Support Stillness in the Storm