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's figures are based on the number of working age adults that are out-of-work, no matter the reason or length of time. Federal figures don't count people that have been out of work so long that they have stopped looking.
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.
Wednesday, January 22, 2014
Actual Unemployment Over 37%
From the Washington Examiner:
Posted by Docent at 8:14 AM