[Jack Hydrazine]

But David Stockman forte is the economy. Here is the article Rush mentioned.

The Warren Buffett Economy——Why Its Days Are Numbered (Part 4)
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its-days-are-numbered-part-4/

Quote from article:
“At the present time, there are 210 million adult Americans between the ages of 16 and 68—to 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 society’s 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%!”

[expat_panama]

Oh absolutely!  What I meant was even when Rush can't explain or understand something well enough the point is often still there.

[semimojo]

“At the present time, there are 210 million adult Americans between the ages of 16 and 68—to 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 society’s 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%!”

I guess there's a point in there somewhere but assuming everyone works full time from when they turn 16 (no one in senior high or college?), no one retires until 68 and everyone in the military also has a full time job is so unrealistic that it makes the stats meaningless.