Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.
In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.
Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn't being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.
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4 comments:
40 years? How about 1935? I think it is that bad!
This is just ridiculous. Unemployment at nearly 40%? Do a quick count...are 4 out of every 10 of your friends without a job?
Is it more than 6.7%? No question...but almost 40%?
C'mon, man!
When you have 1/3 of your working age population not working which is 90+ million (not employed) of 300+ million total population, that is an easy 1/3 of the population unemployed.
Not rocket science.
A walk around my own neighborhood in the middle of the day shows 1/3 of folks home, except for the 9 foreclosed ones.
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