Sunday, January 17, 2010

How nation's true jobless rate is closer to 22%

Unfortunately this is a New York tabloid, but it's the truth nonetheless: the unemployment rate is at Depression levels. The government is never going to tell you; no, you're in the middle of a recovery. They can't figure out why the jobless rate keeps climbing, but best you not worry about that. They define reality. 2+2=5.

    New York Post -

    This'll make you laugh.

    Back in November 2003 an economist named Austan Goolsbee from the University of Chicago wrote an op-ed piece for The New York Times criticizing a Labor Department announcement about job growth the month before.

    And he attacked the idea that the country had just experienced nothing more than a mild recession.

    "Unfortunately, underreporting unemployment has served the interest of both political parties," wrote Goolsbee. "The situation has grown so dire, though, that we can't tell whether the job market is recovering."