John Williams: The Real Unemployment Rate: 22%−Not 8.1%
The fact is, we are sitting at Great Depression levels of unemployment, which hovered at one point at 25%.
If it were not for manipulation by the Fed (printing worthless money) and by spending money we don't have an instantly putting it "on the tab" in forms of Trillion and Trillion in debt, people would know we are only buying ourselves time.
This cannot go on.
It will all collapse - not sure when, but it surely will.
When it all does collapse, it is going to be a very, very hard fall.