A recent Bloomberg article headlined “Jobless Rate Falls to 8.1%.”
And the Obama administration was quick to embrace this hairline improvement as hard evidence that their economic recovery plan is a monumental success.
But one of my Moneynews colleagues, James Davidson, differs in opinion. “What a farce. The jobs recovery is a statistical confection,” he commented in a personal email.
You see, James knows what most economists know — that there are lies, damned lies, and statistics. And the “official unemployment rate” is a combination of all three.
Let me explain (Article Continues Under the Video)
|Get the True Numbers: Dick Morris, Lou Dobbs, Larry Kudlow, Newt Gingrich, and other champions of freedom give their blunt assessment . . . See ‘The Final Turning’
This “official unemployment rate” has been manipulated throughout the years. The current version does not include discouraged workers (those who stop looking for work, or no longer can qualify for unemployment benefits) and the underemployed (those who take part-time jobs just to get by).
Rep. Duncan D. Hunter, R-Calif., stated in The Washington Times, “The official unemployment rate treats this subset of Americans, totaling as many as 88 million people, as if they just vanished . . . call it what it is, an accounting gimmick.”
So What Is the Real Number That Obama Would Prefer You Don’t See?
The real unemployment rate is an eye-opening 22.3%, according to John Williams with Shadow Government Statistics . . . nearly triple the “official unemployment rate.”
But as alarming as this number is, certain experts — like Dick Morris, John Bolton, Lou Dobbs, Newt Gingrich, and Larry Kudlow — believe our economic situation could get much, MUCH worse.
: Click Here to Get The Blunt Opinions of Dick Morris, John Bolton, Lou Dobbs, Newt Gingrich, and Larry Kudlow.
These experts make shocking accusations that are causing shockwaves (such as the prediction that our economy will not recover until 2028). Here is just a snapshot of what they, and other champions of freedom, say in the video . . .
- “We divorced risk from accountability.”
- “This was not an accident.”
- "The unthinkable became thinkable.”
- "It's as if the American people now face a political and financial Frankenstein that has to be fed with their money to keep away from the door. Lest they be devoured."
- “The consequences will be a lot more devastating than simply loss of financial clout."
- "The real catastrophe is going to come in about a year or a year and a half or two when all of this money that the Fed has been printing comes out of hiding all at once and causes explosive inflation."
In fact, many believe America has already entered a “Final Turning” that will resemble the Great Depression era. Their research is so intense that they are able to pinpoint the exact day we crossed the line — Sept. 18, 2008.
Editor’s Note: I didn’t believe their claims at first . . . but then I watched ‘The Final Turning.’
In it, I heard their shocking testimony, saw the concrete evidence, and surveyed the dire predictions. But most importantly of all, I received a blueprint for financial survival and prosperity.
It is imperative that you see it as well.
: Click Here to Watch ‘The Final Turning’
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