Skip to comments.Wall Street advisor: Actual unemployment is 37.2%, 'misery index' worst in 40 years
Posted on 01/21/2014 11:46:47 AM PST by F15Eagle
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.
The unemployment rate only describes people who are currently working or looking for work, he said. That leaves out a ton more.
Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent.
(Excerpt) Read more at washingtonexaminer.com ...
Obama and the NWO (or whatever) crowd are only going to be able to keep lying for so long.
Years ago I felt I also needed to suggest to people how to store food, water.
I suggest all prepare.
I, too, see that number as accurate. We are in a severe depression.
It is LIKE nothing I’ve ever seen before in my entire life
(forgive the colloquial grammar)
With the potential to be worse than the 1930’s - IMHO, because of the sizable population of the USA and the tens of millions of deluded Obama-lovers amongst us.
My wife is a homemaker. Is she included in that 37%
Things will improve when Obama loses HIS job.
The numbers are on target. The only reason we don’t have bread lines, soup lines, Hoovervilles and seething mobs is a combination of bread and circuses. The bread is EBT cards, extended unemployment benefits and subsidies. The circuses are reality TV, the NFL and NASCAR.
Have Gun-Will Travel
“This number obviously includes some people who are not or never plan to seek employment.”
Which makes it irrelevant...
Of course it is.
Even Ray Charles could see that the numbers spewed by the crooks in Washington were cooked.
Yes she is.
I believe that it will get worse; consider, for one moment, that the DC-ites (they aren't Americans) are pushing for amnesty.
They are after our subjugation and enslavement, by any means necessary, and if called on it they will say that it's a "voluntary servitude" and therefore not violative of the thirteenth amendment.
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But the country is not economically healthy, that's for sure.
Yea, Hilary will solve all the problems.
Well....at least the First Lady had a great shindig.
And - he will be investigated by both the DOJ AND the IRS.
Just bought another box of ammo for self-defense last night.
lol - it’s a great thing to be opposite that kook and her like-minded buddies.
I have a buddy who’s 26 and doesn’t have a job. He lives off a trust fund. Is he included in these numbers? Probably.
That is the actual. 91 million out of the work force, or, about 30% of the total. They use the lying C3 numbers which do not reflect the actual out of the work force numbers.
Wont hear that in the MSN media though.
I think it was far worse in 1980. Of course, I was only a few years out of college then and within one person of getting laid off in the company I was working at. Now, I am nearing retirement and don't have to worry about being laid off. There are a LOT of other people between me and layoffs. What I remember is that there was a three year long depression from about 1980 to 1983. And the misery index was close to 45% (the sum of the prime rate, the unemployment rate, and the inflation rate). All were high.
Like this slug!
Shameless Load Boasts On-Air: She Lives GREAT on Welfare, 'Working is Stupid'- 'Taxpayers are Fools'
A recent caller to an Austin radio talk show ('Lucy', 32 y.o., Riverside, TX) -just one of the record 91.5M Americans who've left the US work force- bragged to the host that both she AND her husband 'don't see the need' for working these days... even though they have three young daughters. She said she prefers to live on welfare and 'benefits' so she can 'visit friends and smoke weed all day'...
Yikes — well, I’m trying to diet now anyways, lol.
They weren’t keeping statistics in those days, but modern statisticians estimate the unemployment rate during the darkest years of the Great Depression as being between 25 and 35 percent.
I travel the us and canada continually, I have never seen so many homeless in my life. Our country is falling, we have elected fools without common sense, the fed g should not be allowed to raise funds at all. Without a military intervention on behalf of thd constitutional minded folks, america has fallen
“I believe this number to be highly-accurate. It is nothing I’ve ever seen before in my entire life. Not even around 1980.”
I certainly think the econmy and employment figures are worse than the state media reports, but I can’t believe Obama was re-elected if unemployment is almost 40%.
I used to sympathize with some ignorant people I know facing financial difficulty, until they made it clear that they never bothered to vote. Obama didn’t just win because of low-information voters; he had a lot of help from low-information non-voters...
Just hang loose. I know lots of people who don’t see what the problem is.
I also know of lots of people who have been forced to move in with relatives.
Houses have been abandoned for a couple of years until The Fed pumps in money to get the banks to loan.
In the Midwest, you could buy a $130,000 home with $40,000 forgiven, after 15 years, with the Neighborhood Stabilization Program. IF you have a job and IF you don’t make too much money. But you’ll still have the house, utility, car insurance, food payments. And the $40,000 is forgiven only after the 15th year (as I understand it).
I don’t think you can make over the $30,000’s or so, total household income.
He was re-elected because people were told government statistics that were lies, and the media spread these lies as truth and didn’t challenge them. Anyone who tried to get the truth out was quickly demonized and shut down.
~~~I travel the us and canada continually, I have never seen so many homeless in my life. Our country is falling~~~
Absolutely. I remember a vacation to Phoenix in 1995. There was a beggar on every street corner. But there were jobs but obviously a tremendous homeless problem there. I was approached by one within hours of landing at the airport (passenger).
Nope, that's when the Zombie Invasion Hits
as the City Folk lose their freebies,
the EBT cards cease to work,
the transportation network implodes,
and despair sinks in...
This is why the Elite are propping up the system.
Once this thing hits, it will be a LONG WAY DOWN
Its not just Obama, I’m sorry to say, its the entire establishment way of massaging the numbers over the decades
~~~but I cant believe Obama was re-elected if unemployment is almost 40%.~~~
I can. I’ve talked to dozens of Obots. They couldn’t find the truth if it hit them over the head.
They are stuck on “Bush’s fault” and will never wake up. Watch any idiot liberal “talk” or “news” show (if you can stand more than two minutes). The lies and propaganda are endless.
The reason it’ll be worse than the 30’s is because a huge portion of the population now has no idea how to feed themselves.
Tampering with various economic statistics began all the way back in 1961 with Kennedy. Every administration since then, both Democrat and Republican, have played the same game.
We are in a very badly divided country.
~~~as the City Folk lose their freebies,
the EBT cards cease to work,
the transportation network implodes,
and despair sinks in...~~~
And the “knockout game” is just the beginning. I doubt anyone will want to enter big cities during those days, unarmed and probably not otherwise.
If it is possible, Obama has passed Jimmuh Car-terr.
I agree -— but the employment situation is far worse under this clown.
He’s not qualified to man a fruit stand on the side of a dusty road.
And neither is “three-letters ‘J-O-B-S’” Biden.
Brought by the king of chaos.