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Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years
The Washington Examiner ^ | January 21, 2014 | Paul Bedard

Posted on 01/21/2014 9:23:30 PM PST by 2ndDivisionVet

(VIDEO-AT-LINK)

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. This number obviously includes some people who are not or never plan to seek employment. But it does describe how many people are not able to, do not want to or cannot find a way to work. Policies that remove the barriers to employment, thus decreasing this number, are obviously beneficial,” he and colleague Megan Russell in their new investors note from their offices in Charlottesville, Va.

They added that “officially-reported unemployment numbers decrease when enough time passes to discourage the unemployed from looking for work. A decrease is not necessarily beneficial; an increase is clearly detrimental.”

Then there is the Misery Index, which is a calculation based in inflation and unemployment, both numbers the duo say are underscored by the government. He said that the Index doesn’t properly calculate how Uncle Sam is propping up the economy with bond purchases and other actions.

“These tricks, along with a host of other dubious accounting schemes, underreport inflation by about 3 percent,” they wrote, adding that the official inflation rate is just 1.24 percent.

“Today, the Misery Index would be 7.54 using official numbers,” they wrote. But if calculations tabulating the full national unemployment including discouraged workers, which is 10.2 percent, and the historical method of calculating inflation, which is now 4.5 percent, ‘the current misery index is closer to 14.7, worse even than during the Ford administration.”


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: authorondrugs; banglist; bsarticle; economy; idiocy; miseryindex; unemployment
If people only knew.
1 posted on 01/21/2014 9:23:31 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

How does saying the misery index the worst on 40 years make sense? Wasn’t it worse in 1979, than it was in 1973?


2 posted on 01/21/2014 9:26:50 PM PST by nickcarraway
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To: 2ndDivisionVet

And yet still, up and down the board, they vote for rats. One just got a landslide in Virginia for the state senate.
I don’t think there are conditions bad enough to turn these people against the communist Democrat party.

It would actually have to be the Night of the Long Knives where the commies start killing the socialists before they woke up and smelt the roses.


3 posted on 01/21/2014 9:27:19 PM PST by Viennacon
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To: nickcarraway

I think 1973 was when there was a billboard in Seattle that said....”Last one out, turn out the lights.” Seems that’s the billboard for America now...


4 posted on 01/21/2014 9:30:16 PM PST by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: 2ndDivisionVet

Wall Street advisor: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years

http://www.freerepublic.com/focus/f-news/3114041/posts


5 posted on 01/21/2014 9:30:42 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: nickcarraway

I think 1973 was when there was a billboard in Seattle that said....”Last one out, turn out the lights.” Seems that’s the billboard for America now...


6 posted on 01/21/2014 9:31:09 PM PST by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: 2ndDivisionVet

If people only knew.


Most on here do know. It’s the media that keeps it from the clueless.


7 posted on 01/21/2014 9:32:29 PM PST by boycott
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To: 2ndDivisionVet

I wonder what part of that figure includes people living on disability payments - which dwarf welfare payments in terms of national expenditures - and what portion consists of people who could literally go to the unemployment office, find a job within one day, but choose not to because they have gotten comfortable with what they are collecting and possibly are holding out for a job they think they deserve because of their liberal arts degree.


8 posted on 01/21/2014 9:52:41 PM PST by freedom462
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To: freedom462

I worked at the state unemployment office as a work/study in college and then for 15 years as a career counselor. That was back when if you couldn’t find a good job you should’ve dug yourself a hole and jumped in, yet many of them still waited until the benefits ran out. I can’t imagine what it’s like now.


9 posted on 01/21/2014 10:03:59 PM PST by 2ndDivisionVet (Jealousy is when you count someone else's blessings instead of your own.)
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To: 2ndDivisionVet
If people only knew.

They do know. They're just confused as heck, because the administration and the media are blowing sunshine up their butts day and night.

People see all of the happy crap in the media and think they're alone in their plight. They don't see how widespread the pain and suffering really is, because it's intentionally being covered up.

Obama would have lost in a landslide if the pathetic GOP-e had pounded the real truth home during the primary and the election. Despite our having one of the worst candidates in living memory.

10 posted on 01/21/2014 10:51:28 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: 2ndDivisionVet

Now, now. This right-wing conspiracy is really getting out of hand.


11 posted on 01/21/2014 11:41:48 PM PST by lbryce (Obama:The Worst is Yet To Come)
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To: 2ndDivisionVet

If you note these inconvenient facts, you are an OBVIOUS racist that just hates the idea of a black man as President. My TV said so....


12 posted on 01/21/2014 11:53:51 PM PST by tcrlaf (Well, it is what the Sheeple voted for....)
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To: tcrlaf

Your television is a moron.


13 posted on 01/21/2014 11:54:43 PM PST by 2ndDivisionVet (Jealousy is when you count someone else's blessings instead of your own.)
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To: Viennacon

The landslide in Virginia was the from a vote of mostly federal government workers and contractors. For them the economy is booming and life is wonderful.

The top ten richest most growing counties in the USA are positioned around the Beltway in Maryland and Virginia.

These are the people that abhor a government shutdown and that always blame republicans for one.


14 posted on 01/22/2014 12:36:16 AM PST by Hostage (ARTICLE V)
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To: goodnesswins

What lights?


15 posted on 01/22/2014 1:26:37 AM PST by Bullish (America should yank Obama like a rotten tooth before he poisons the entire body)
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To: 2ndDivisionVet

Obama *IS* a transformational president.

He has taken OWS and other slimy economic voyeurs and turned them into Gordon Gekkos. They think the biggest artificial DJIA bubble in the history of the universe is a great and wonderful thing and that high stock indices = good economy.

Apparently they drive through different cities and states as the rest of us, as I tend to notice the unending string of ‘for lease’ signs out on office buildings and parks, entire indoor and strip malls left derelict, and longstanding restaurants, merchants etc. closing down, often complaining about taxes and this or that meddlesome city ordinance that does nothing to improve the quality of life but merely takes their focus away from serving customers and places it on absolute obedience to bureaucrats.


16 posted on 01/22/2014 4:18:09 AM PST by relictele (Principiis obsta & Finem respice - Resist The Beginnings & Consider The End)
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To: 2ndDivisionVet

“If people only knew.”
They know, they are living it. Now our job as always is to spread the news and educate them as to the reason why. If the commie queer boy king was painted as to who he really is there would be revolution in the streets.


17 posted on 01/22/2014 6:00:45 AM PST by WilliamRobert (Obama so loves the poor he created millions more.)
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To: Viennacon; 2ndDivisionVet
It would actually have to be the Night of the Long Knives where the commies start killing the socialists before they woke up and smelt the roses.

And that's just how it is in America. Someone has to die, in spectacular fashion, before awareness is raised.

The question now is not who has to die. It's how many...

18 posted on 01/22/2014 6:17:11 AM PST by Old Sarge (TINVOWOOT: There Is No Voting Our Way Out Of This)
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To: 2ndDivisionVet

When they say people who are seeking employment, they mean people who are registered at state and federal human resource agencies. Everyone knows what a waste of time that is.


19 posted on 01/22/2014 6:19:15 AM PST by pallis
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To: 2ndDivisionVet
Sooner or later - later now, I guess, people will begin to look around and see that no one is working.

Numbers like this are getting close to "uprising" territory - probably why the regime is so pro gun control.

20 posted on 01/22/2014 6:20:39 AM PST by The Sons of Liberty (Who but a TYRANT shoves down another man's throat what he has exempted himself from?)
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To: 2ndDivisionVet

The people do know how hard it is to find a good paying job.


21 posted on 01/22/2014 6:45:33 AM PST by Blood of Tyrants (Haven't you lost enough freedoms? Support an end to the WOD now.)
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To: 2ndDivisionVet

Nothing that MADE IN THE USA won’t cure.


22 posted on 01/22/2014 7:23:28 AM PST by ex-snook (God is Love)
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To: 2ndDivisionVet

These two men can expect calls from the Secretary of the Treasury (Standard & Poor) and visits from the IRS asking questions about their previously approved tax returns for the last decade or so.

And don’t even think about how they and their families will be ostracized!

How dare they tell the true and use real numbers!! Ain’t we governed by feelings any more?


23 posted on 01/22/2014 8:13:03 AM PST by Nip (BOHEICA and TANSTAAFL - both seem very appropriate today.)
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To: 2ndDivisionVet

http://www.impeachobamacampaign.com/articlesofimpeachment/

AND add to the unemployment rate all the other things stealing US jobs and stealing taxpayer dollars:

http://jubakpicks.com/tag/unemployment/

http://investmentwatchblog.com/

http://www.dailymail.co.uk/sciencetech/article-2542113/Will-robot-jobocalypse-make-YOU-obsolete-2014-year-droid-takes-job-say-experts.html

http://www.telegraph.co.uk/news/uknews/defence/10587820/US-Army-considers-replacing-thousands-of-troops-with-robots.html

Add to the jobs losses the 20% of Americans on Food Stamps:

http://cnsnews.com/news/article/ali-meyer/record-20-households-food-stamps-2013


24 posted on 01/22/2014 8:30:28 AM PST by Kackikat
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To: goodnesswins

25 posted on 01/22/2014 9:55:38 AM PST by carriage_hill (Peace is that brief glorious moment in history, when everybody stands around reloading.)
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To: goodnesswins

I think it was a year or so earlier.

But we made a comeback, didnt we?


26 posted on 01/22/2014 10:47:21 AM PST by crazycatlady
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To: Blood of Tyrants

Not everywhere:
http://www.indeed.com/jobs?q=&l=76208


27 posted on 01/22/2014 11:19:37 AM PST by 2ndDivisionVet (Jealousy is when you count someone else's blessings instead of your own.)
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To: relictele

You don’t see much of that here in Texas, just the opposite. New businesses, new stores, improvements, construction, people moving in, road work, busy malls, “help wanted,” etc. Wild, huh?


28 posted on 01/22/2014 11:30:46 AM PST by 2ndDivisionVet (Jealousy is when you count someone else's blessings instead of your own.)
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To: 2ndDivisionVet

ping


29 posted on 01/22/2014 11:53:52 AM PST by fhayek
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To: Old Sarge

The “someone” and the “who” will be obvious when the time comes. We each have to keep our own list of traitors, those we can actually reach. They are not all inside the Beltway by any means.


30 posted on 01/22/2014 1:05:14 PM PST by cherokee1 (skip the names---just kick the buttz)
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To: carriage_hill

HA...there it is!!!


31 posted on 01/22/2014 3:39:23 PM PST by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: 2ndDivisionVet

I find 37% to be hard to believe. I certainly don’t believe the government’s 7% number.

But shadow stats.com has unemployment near 24%.


32 posted on 01/22/2014 7:11:23 PM PST by DannyTN (A>)
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To: freedom462

Disability payments now go to drug heads who are able to get that “mental” disability diagnosis. And they have no plans whatsoever to stop getting high and get a job.

“disability payments - which dwarf welfare payments in terms of national expenditures”


33 posted on 01/22/2014 9:11:48 PM PST by Cedar
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To: pallis

I found jobs for thousands of veterans and welfare recipients when I worked there, am I exemplary or is something different now?


34 posted on 01/23/2014 4:15:17 AM PST by 2ndDivisionVet (Jealousy is when you count someone else's blessings instead of your own.)
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To: DannyTN

There are roughly 200 million people of “working Age” in the US,this is NOT COUNTING RETIREES and CHILDREN under 18, there are only about 97 million TAX FILERS, this includes spouses working or not. How do you come up with a 7% unemployment rate??

I have been asking people this simple math question for over a year now, and finally someone digs deep and prints the truth, I believe their number is a little low though, but I will accept it.


35 posted on 01/23/2014 8:15:09 AM PST by eyeamok
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To: Bullish

The new mandated bulbs turn themselves out don’t they?


36 posted on 01/23/2014 8:18:39 AM PST by Resolute Conservative
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To: eyeamok

Good point. The only reason I prefer shadowstats 24% over the wall street advisor’s 37% is that 40% of the people I know aren’t unemployed. But there certainly are some that are unemployed and some are barely subsisting. And my circle of contacts is rather limited and I live in an area that is doing pretty well economically. I would think if it’s truly 37% we’d have demonstrations in the street.

24% are getting by because of help from family and friends, government help, dissaving, etc.


37 posted on 01/23/2014 8:57:46 AM PST by DannyTN (A>)
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To: DannyTN

I would think if it’s truly 37% we’d have demonstrations in the street

Take away their food stamps and welfare checks, then stop all the people from Fraudulently collecting SSDI, Force these people to go to SOUP KITCHENS and CHARITABLE ORGANIZATIONS, like the old days before LBJ’s “War on the Family” Began, and there will be.


38 posted on 01/23/2014 9:03:20 AM PST by eyeamok
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