Posted by Don’t listen to the politicians, left wing media or stock salepersons on CNBC tell you that our economy is recovering. Here are the straight facts. Unemployment is 16% (U6 – the real unemployment number – a post-1930′s record), industrial production is declining, and has been at a rate of 3-4% per year in the U.S. , housing foreclosures are at an all time record high with no signs of abating, and the dollar is falling in value preciptously. Our economic fundamentals couldn’t be much worse. Top that off with record government deficits – which are inflationary because when we create money that way without producing anything we are defacto lowering the value of our currency – and record money creation, and it’s a recipe for coming disaster. Listen to Peter Schiff set the record straight in this video. He’s running for senator in Connecticut, check him out at http://www.schiffforsenate.com/
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Paul,
The 16% is a labor dept number called U6 – it includes people who are working part time but want full time work and those who have given up looking. It’s the least rigged number – btw, it’s up to 17% for September. Here’s the data – http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?years_option=all_years&output_view=data&periods_option=all_periods&output_format=text&reformat=true&request_action=get_data&initial_request=false&data_tool=surveymost&output_type=column&series_id=LNS13327709
It’s an awkward way to look at the data – you can query it yourself on the site and get a better presentation. As well, i think i’f you click graph on the page it will be easier.
Hi Glenn,
How do you get to the 16% number on unemployment? Is this number including those who have simply given up looking (the government numbers don’t include that group) and those who have exhausted benefits?