The Rise of Fake Employees

People have become so good at this elaborate trick that employers have started to have to be more careful about the hiring process [Gilder's Daily Prophecy] August 24, 2022 [WEBSITE]( | [UNSUBSCRIBE]( [External Advertisement] FDA APPROVAL COULD SEND THIS STOCK UP 46,751% [Click here to learn more]( Whenever the FDA approves a new drug... Timely investors could see 300-400% returns overnight... CCXI returned 281% to investors in one day... Relmada shot up 971% in 9 months... Agile soared 305% in 5 months... [Here's the next stock we think wins approval ]( The Rise of Fake Employees [Jeffery Tucker] JEFFREY TUCKER Dear Reader, Labor markets have never been in more of an upheaval during our lifetimes. Not even the regular data makes sense anymore. The Biden administration touts the low unemployment rate but what can it even mean when the ratio of workers to population has fallen off a cliff? There are now fewer people working than ever. Or consider job creation. What does it mean when they consist mostly of full-timers getting second jobs to supplement declining real income? The small number of people who are still willing to work are having to work ever harder to sustain the illusion that things are as they were three years ago. Crazy Indeed The job marketplace called Indeed.com came to prominence as a form of emancipation for employers and employees. It was seen as a great tribute to the Internet, connecting people and interests as never before. Even the Federal Reserve bought in and used job listings there as part of official data to indicate market health. Since the lockdowns, something has gone very wrong. Remote work became common of course. More than that, getting income from the government became the norm. Indeed.com became a tool for people to extend unemployment benefits forever. So long as they can tell the bureaucracies that they are in the market, the money keeps flowing. Millions have figured out how to game the system. I can’t say that I understand it but if this is your racket, you certainly do. You get notifications from Indeed.com about new jobs and submit your resumes to dozens of companies instantly. Then you ignore the results. The money keeps flowing. Employers who use the system discovered the problem over the last year. They would post a new job and get thousands of applications in. Sounds like good news until they discover that not one of the applicants really wants a job. Much of the system became like everything else these days: a big fake. The platform is not entirely useless but you have to know how to use it in order to avoid the scams, which now constitute probably 50% or more of the activity. This has forced employers back into an old habit of only hiring by word of mouth. Biden to “retire” US dollar? [Click here to learn more]( A former advisor to the CIA and Pentagon now believes President Biden plans to retire the US dollar we know. And replace it with what he calls “Biden Bucks”. It is underway. On March 9, Biden signed Executive Order 14067, which could pave the way for Biden Bucks. [Click to see how to save your investment and retirement accounts](. Fake Employees The strangest scam to appear in recent months is what is known as fake employees. A person gets an Employment Identification Number online, which is easily available. Get a fake resume and a fake picture. Then in the Zoom interview, you can easily use a fake face. Everything on the other end seems fine, and then the person is hired. The money starts flowing but other people at the firm notice that the person doesn’t actually do anything. People complain. As time passes, eventually the person is fired. Then the fake employee files a lawsuit for employment discrimination. This tangles the firm up in legal issues that can take years to resolve. People have become so good at this elaborate trick that employers have started to have to be more careful about the hiring process, which means that they have to have employees to manage the hiring of new employees, some of whom might be fake as well! The Labor Tragedy In the 19th century and before, there never was a problem called unemployment. If you think about it, the whole thing is ridiculous. There is an unlimited amount of work to do in this world, now and forever. It should never be the case that people can’t find useful employment. The first time when we really faced this as a problem was during the early years of the Great Depression when people were let go from their jobs and could not find new ones at the prevailing wages, which were themselves crashing. Economists concluded that the reason for the economic depression was a lack of work. It was a dumb conclusion because it was not true. The real problem was the inflation of wages and their subsequent deflation. The law would not allow wages to fall. If we had a free market, none of this would have been an issue. Today, labor market struggles are different. Kids aren’t allowed to work on the grounds that they are all supposed to be in school in the interest of having an educated workforce. That didn’t work out too well, obviously. And then we had the invention of “retirement” in which private corporations and governments were so supposed to support people to the grave. That worked fine until lifespans expanded from 60 to 75 and now the systems are going bankrupt. With the pandemic lockdowns, we invented a French-style system in which masses of people choose sloth over productivity and get paid by government for doing nothing. That is increasing our plight. Tragically so because not working is also associated with depression, ill health, and early death. Then you have another problem that is hard to quantify: millions of people have given up on ambition entirely. This is an enormous cultural problem that no amount of economic restructuring can fix in one generation. The Wall Street Journal assures us this morning that everyone in high-end jobs who is facing job insecurity can easily snag another job. Yes. But at the same wages and with the same benefits? No way. This is where we are today in labor markets: vast numbers of people are going to be forced to give up their luxury lifestyles for actual work. Many prefer to live off the taxpayer. Never Take a Risk When totalitarianism came to the U.S. during the pandemic, most Americans had nothing to say. They were too comfortable and too scared to fight for their basic liberties. Why is that? My own theory is that it has to do with the automatization of payments. The luxuries we enjoy come to us automatically, out of one account and into another and then dispersed into many others. If anything should go wrong in this flow of funds, everything falls apart. For this reason, people are not willing to rock the boat. We are a nation of dependents, far from the rugged individualists who built this country. This is why the lockdowns came and went with nary a protest on the part of the home of the brave. It’s utterly astonishing what people will put up with just to keep the funds flowing. Whether their lives mean anything at all is a completely different question. The next few years are going to be deeply traumatic for many millions of well-paid members of the Haute bourgeoisie. Their jobs are coming under pressure and they will be forced to ask themselves whether to retool and downgrade or become wards of the state. Sadly, most people are going to choose the latter. Of course, there is another option. You can create an account on Indeed and masquerade as someone you are not. Get hired. If you get fired, you can sue. The Federal Reserve will count you as a gainfully employed American and no one gets hurt. As I file this letter today, Biden has just announced loan forgiveness for students with less than $10,000 in debt. That’s a signal to anyone with $100,000 in debt to wait it out. You can see what’s happening here: the American taxpayer is going to be on the hook for decades of funding of fake degrees for people to work in fake jobs to contribute to fake data that shore up the illusion of prosperity, all of which we know is fake. No wonder so many of the smart young professionals I know are moving to Mexico! Regards, [Jeffrey Tucker] Jeffrey Tucker 1992 Book Reveals: The Next Big Tech Obsession [Click here to learn more]( Silicon Valley insiders have spent the last 30 years passing a “secret playbook” around their inner circles. This “secret playbook” ([which I reveal right here]( has pointed the world’s biggest tech moguls to major breakthroughs that have helped disrupt entire industries... Now, for the first time ever, tech billionaires are set to reveal the “final chapter” of this mysterious book. And I’ve secured you special access to a full rundown of this little-known breakthrough. [>> Click here now for the full story <<]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( Gilder's Daily Prophecy is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here.]( Please read our [Privacy Statement](. 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