88 million Americans vanish in unemployment rate gimmick

88 Million Americans ‘Vanish’ in
Unemployment Rate ‘Gimmick’

The Bloomberg headline on May 4 championed “Jobless Rate Falls to 8.1%.”

And the Obama administration embraced this hairline improvement as hard evidence that their economic recovery plan is a monumental success.

But one of my 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.

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 Doesn’t Want You to 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 Their Blunt Opinions).

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.

I didn’t believe their claims at first . . . but then I watched this video.

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.