Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years

Paul Bedard
The Washington Examiner
1/21/2014

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the realunemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn’t being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.

“The unemployment rate only describes people who are currently working or looking for work,” he said. That leaves out a ton more…

 

 

The article continues, with video, at The Washington Examiner.

 

40 years ago, former President Ford issued "WIN" buttons, short for "Whip Inflation Now." The campaign failed.

40 years ago, former President Ford issued “WIN” buttons, short for “Whip Inflation Now.” The campaign failed.

 

 

Update:  All Hail The Welfare State! Record High 20% of U.S. Households On Food Stamps In 2013…

 

 

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