by David Kupelian And how does the government arrive at only 8 percent unemployment? Easy, just leave out lots of unemployed people from the calculations.
Let’s break it down. According to the Bureau of Labor Statistics, “In September, 2.5 million persons were marginally attached to the labor force.” Even though these individuals “wanted and were available for work, and had looked for a job sometime in the prior 12 months … they were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.” In case you missed that: The government is openly admitting that 2.5 million unemployed Americans were not counted as officially “unemployed.”
That’s just for starters. The government’s “official” unemployment stats also don’t include part-time workers who want and need full-time work. As the PolicyMic.com blog summarized, the Bureau of Labor Statistics’ 7.8 percent figure “does not include unemployed members of the workforce who are not actively looking for work; nor does it factor in workers with part-time jobs who are seeking full-time employment.
“You know what the unemployment rate really is?” asked Texas Rep. Ron Paul earlier this year. “It’s probably closer to 20 percent.” Said Paul: “If you want to really know why the American people feel badly about the economy, it’s that the unemployment rate is escalating. It’s very high. But if you take … the number of people employed, 132 million people, it’s the same number that was employed in the year 2000. There have been no new jobs produced.”
The SGS figures declare that the inflation rate is actually about 10 percent, while officials are reporting it at 2 percent(shadowstats.com). The middle class is really hurting because their inflation rate is very much higher than the government tries to tell them.
Remember, today’s “dollar bill” purchases what 3 cents would buy in 1913 when the Federal Reserve was created to “stabilize” our money system.
So where do we go from here? The national debt of over $16 trillion, when added to government’s future liabilities that some peg at $200 trillion, simply cannot be paid. If nothing changes, America’s children will grow up inheriting national insolvency and huge personal financial burdens of our making.
There are really only a few possible answers: 1. Continue to put off the day of reckoning by borrowing much more money from adversary nations like China. 2. Raise taxes dramatically in the middle of a prolonged recession. 3. Get the Federal Reserve to create mountains of new money out of thin air and use it to pay our debtors with worthless dollars. That could be accomplished very quickly, but it would mean saddling Americans with ruinous hyperinflation and wiping out the accumulated wealth and savings of the whole country.