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Business/Finance See other Business/Finance Articles Title: Don’t Believe the Unemployment Rate - It's actually 42.9% So, the government tells us the unemployment rate is just over 5%. These are the same people who told you if you like your doctor, you can keep your doctor
that the attack on the Libyan embassy was a spontaneous protest of an Internet video no one saw
bureaucrats who claim the cost-of-living is lower because you can substitute cat food for steak (hedonics), and that there has been no price inflation, therefore they dont have to increase government checks for those dependent on them
yes, the very same people who told you it was necessary to give trillions of dollars to Wall Street and international banks to save the world
that they need to keep collecting your private information, even though the FBI confessed it hasnt caught a single terrorist because of those violations of the Constitution
the same kind of folks who lose their emails with no repercussions, while jailing us for doing the same thing
somehow you believe them about the unemployment number. Uh huh, I see. I have a really cool bridge to sell you. Call me. [See also, 5 Million Missing From the Labor Force.] In the meantime, David Stockman continues to scream that the emperor has no clothes, and has the audacity to use facts to demonstrate that the unemployment rate is actually almost double that of the Great Depressionthe only reason we dont see bread lines is because we hand out SNAP cards, instead. At the present time, there are 210 million adult Americans between the ages of 16 and 68to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of societys need for production and work effort. By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%! Yeah, 42.9% unemployment. THATs why this recovery doesnt feel much like a recovery. But, hey, the politicians and bankers are doing just fine, thank you. Go ahead and keep letting them distract you with canards like that the removal of the Confederate flag will actually make things all better. It makes just as much sense as that Obamacare is Constitutional, a man can be a woman, a white person can be a black person, and two people of the same sex can be married. Sanity
lost. R.I.P., American freedom: 1776-2015. Died of a terminal case of pathological lying, and widespread gullibility. Read more at http://politicaloutcast.com/2015/07/dont-believe-the-employment-rate/#UBq2jxtAAMsXYoet.99 Post Comment Private Reply Ignore Thread Top Page Up Full Thread Page Down Bottom/Latest
#1. To: Jethro Tull (#0)
Great catch, thanks.
The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable. ~ H. L. Mencken
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