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Yup, just wait until all the people who believe government numbers. They'll give you every reason as to why the unemployment rate from the government is real. If you asked me. The real rate is about 2x of what the government says. They say it is 8% in California? More like 16% give or take. No questions asked, we will see unemployment as high or higher than the great depression. Just this time the government does a good job masking it up.
Yup, just wait until all the people who believe government numbers. They'll give you every reason as to why the unemployment rate from the government is real. If you asked me. The real rate is about 2x of what the government says. They say it is 8% in California? More like 16% give or take. No questions asked, we will see unemployment as high or higher than the great depression. Just this time the government does a good job masking it up.
I agree with you. In all my periods of unemployment I was never counted in any of those numbers. My brother has been unemployed for six years now. He gave up. He is not counted in those numbers. My sister is now unemployed. She is not counted in those numbers. That's three out of four siblings not employed and not counted. Can you imagine what the real rate must be? But the gubmit won't tell us that, as we're liable to freak
10% unemployment rate is classified as an economic depression!
If Uncle Sam is telling us the truth, then it will create an huge impact on the U.S. consumers; this is the very last thing Uncle Same wants to see.
The U.S. economy depends on the consumers who are now "slow" when it comes to spending! This is a vicious cycle--the big companies are not making money so they are not hiring or laying off people; Americans are not spending because they are afraid they might be unemployed tomorrow.
If Uncle Sam came out and told the truth, what would happen to the U.S. economy!!!! Just imagine what would happen after the opening bell in Wall Street at 9:30 am on Monday!!!
What employment numbers also leave out is the under employed. I know of and have talked to countless people over the last couple of years that are making half to two thirds of that they made in 2000. They may have a job, but their living standards are much lower than they were in 2000. Most of the people I talk to were in manufacturing or IT. Their jobs were either moved overseas or their plants were relocated to Mexico.
To think this country can grow and thrive with out manufacturing is pure stupidity.
10% unemployment rate is classified as an economic depression!
If Uncle Sam is telling us the truth, then it will create an huge impact on the U.S. consumers; this is the very last thing Uncle Same wants to see.
The U.S. economy depends on the consumers who are now "slow" when it comes to spending! This is a vicious cycle--the big companies are not making money so they are not hiring or laying off people; Americans are not spending because they are afraid they might be unemployed tomorrow.
If Uncle Sam came out and told the truth, what would happen to the U.S. economy!!!! Just imagine what would happen after the opening bell in Wall Street at 9:30 am on Monday!!!
Well, common sense dictates that one know the rate is above 7.2. It's just how much above 7.2 that is the question.
I suppose it's best not to tell the truth, right? People are already skittish enough. We just need people to keep spending and for investors not to realize just HOW BAD the numbers really are. Me? I pulled out of the market on September 19 - too late and I'd wanted to for months prior, but the financial house where I had my money kept telling me it was business as usual and I listened too long. Oh well, the DOW was 11,300 when I got out so better late than never.
What employment numbers also leave out is the under employed. I know of and have talked to countless people over the last couple of years that are making half to two thirds of that they made in 2000. They may have a job, but their living standards are much lower than they were in 2000. Most of the people I talk to were in manufacturing or IT. Their jobs were either moved overseas or their plants were relocated to Mexico.
To think this country can grow and thrive with out manufacturing is pure stupidity.
Good point! So many people have had their hours cut, benefits hacked, and so on. I'm making a third of what I did a few years ago. It's brutal.
nce a person quite seeking employment its hard to really count them . For instance when unemployemnt got to 4.3% in my area;there were alot of jobs and employers could get locals to apply. The unemployment rate is only good to compare one period and the job market in genreal and is never meant to be a count of all those not working.
Yup, just wait until all the people who believe government numbers. They'll give you every reason as to why the unemployment rate from the government is real. If you asked me. The real rate is about 2x of what the government says. They say it is 8% in California? More like 16% give or take. No questions asked, we will see unemployment as high or higher than the great depression. Just this time the government does a good job masking it up.
I also agree with you. Probably because you are right. I want to just scream to everyone that their (not my) government is lying to them but no one will listen.
This govt only admitted just last month that we are in a recession even though we have just entered the depression mode. All this after 3 years of declining everything measurable.
And to top all this off the good ol govt freeloaders just voted themselves a nice little $4900 raise last week bringing their average salary to $174,000. I feel so sorry for those guys. It must be so difficult making ends meet on such a pittance salary.
I agree with nearly all of the above, the Government doesn't want panic to set in so yup they fudge the numbers....
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