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Saturday, February 02, 2013

Will the Real Unemployment Rate Please Stand Up!

Don't believe the government. The real unemployment rate in the USA is several times what they tell you it is. John Williams of has been keeping the real statistics (ironically, using the government methodology) after the government starting piling on the lies about the unemployment rate during the Clinton Administration. Here's what the unemployment rates (U-3 and U-6 lies) reported by the government are and what they really are (ShadowStats):

Notice how the government lies have expanded over the years. In the Nineties, the three lines were at least moving in the same direction. But, since the current crisis began, the real unemployment rate has been continuing to rise even as the government tells us it's falling. This is a sign of hopeless desperation on the part of government, hoping against hope that the American public doesn't wake up from their dream that everything in America is “Great!” Sorry, America is sliding down the tubes with no real hope of recovery.

If you think we're in a recovery, you think wrong. We're in a slide which began long ago and it appears to be endless at this point in time. “The Japanization of the American Economy” is how some people call it. We simply call it “The Decline and Fall of Civilization” because it's the end game of our fundamentally-flawed financial system. Basing a financial system on the idea of continuously borrowing an endless amount of wealth from future generations ultimately leads to a crack-up when interest payments rise to 100% of debt repayment. And that's exactly what we're seeing right now. A long term crack-up in our civilization as the unemployment rate soars inexorably higher.