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I read an article I didn't remember the article's title or the mags name, but it quoted the unemployment rate in 2007 as 4.7% it quoted the unemployment pay out rate as some number. The same month in 2010 had a listed unemployment rate of 9.8% but the pay out rate was more then 3X as high. It corresponded to an actual unemployment rate of over 17%.
Front Page (http://boombustblog.com/reggie-middleton/2011/02/09/am-i-the-only-ardent-supporter-of-mark-to-market-accounting-fasb-appears-to-have-bent-over-for-the-final-time/ - broken link) Let us have truth in reporting and let us deal with reality. How can we get real economic progress if we don't have real numbers to deal with. Want a real bail out of the banks? Increase the wage base in the economy.
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