Happy 4th of July to everyone

Unfortunately, we have given up our independence to government tyranny

I will be back on the radio again - I'll be on the Alex Jones Show every first and third Friday of every month when the Non-Farm Payroll numbers come out

I will be doing tomorrow's show - the second hour of the show

The Non-Farm Payroll Report came out early this week because of the 4th of July holiday

The consensus forecast of 230,000 jobs was close to the actual number 223,000

The unemployment rate of 5.5% last month was expected to come in at 5$% - actually came in at 5.3%, the lowest unemployment rate in 7 years

Great news, right? Not great news

The devil is in the details

The Labor Force Participation Rate - 62.9 last month - plunged down to 62.6%

This is the lowest rate since 1977

432,000 people dropped out of the labor force in June - twice the number of people who got jobs in June

Once again, these new jobs are low-paying service sector jobs

During the Obama "recovery" we have lost 1.4 million manufacturing jobs and gained 1.4 million wait staff and bartender jobs

According to the Household Survey 640,000 Americans left the labor force in June

Now we have a record 93.6 million Americans no longer in the labor force

The Household Survey reports 349,000 jobs were lost during the month

The only net gain - 161,000 part time jobs - represent a net loss

The Household Survey shows that we lost good jobs

When asked about the Labor Force Participation Rate number, Secretary of Labor Perez commented, "One month does not a trend make."

This trend has been going down every month of every year that President Obama has been in office

Janet Yellen announced that the Fed would not start raising rates without "further improvement in the labor market"

She specifically cited the Labor Force Participation Rate and proliferation of part-time jobs as troubling trends

We are now further from that goal

The demographic leaving the labor force are young people who cannot find jobs

Average Hourly Earnings, to increase .2, actually came in flat, at zero

Last month's .3 increase was revised down to .2, failing to beat the estimate

Weekly Jobless Claims expected to come in at 270,000, actually came in at 281,000 and I think this number is going to go higher

There have been fewer hires and fewer fires than expected because the estimates were based on the Birth/Death model, that is proving inaccurate

Factory Orders are down for 9 of the last 10 months - this month we were looking for -.3% and we got -1%

April was originally reported as -.4 but was revised down to -.7

Year over year Factory Orders are down 6.3% (adjusted)

The only time we have seen numbers this weak is during a recession

The economy is in worse shape now that when QE3 was launched

Yet the markets did not react to these bad numbers

They still cling to the narrative that the Fed is going to raise rates because the U.S. economy is in good shape

Article on Motley Fool refers to me as someone who was "right for the wrong reason"

The misquoted me on my prediction on (mortgage)interest rates going up

After I made that statement, interest rates did go up for 2 years - they did not go down until after the bubble burst

The Fed raised interest rates from 1% to 5-1/2 percent

This quote was taken out of context - read my 2007 book, "Crash Proof"

There are dozens of articles about the real estate bubble 2004-2007

The record shows that I was right for all the right reasons

I did think the dollar would go down after the housing bubble burst, but by the time the bubble burst the dollar was at a record low

The mainstream media would like to discredit my earlier predictions in order to discount my current predictions

The higher interest rates I predicted have not happened yet because a dollar crisis will precede the rise in interest rates

The fact that we have delayed the day of reckoning for so long means that...