US unemployment in actuality surpasses 22%
Last Friday, the Bureau of Labor Statistics (BLS) said 200,000 new jobs were created which dropped the unemployment rate to 8.5%.
Economist John Williams of Shadowstats.com says the government reported more than 40,000 jobs that didn’t exist. In his latest report, Williams said, “The December 2011 payrolls included a false, seasonally-adjusted gain of roughly 42,000 in the “Couriers and Messengers” category.” Williams went on to report, “If unemployment was calculated the way BLS did it in 1994 and earlier, it would be 22.4%”.
By the way, the “tax cut” amounts to $20 a week on average, and it cuts cash to fund things like Social Security. Cutting Social Security sounds more like desperation to me and not a real recovery.
I think the best and most succinct 2012 prediction comes from renowned investor Jim Rogers, who says, “They’re going to make us all feel better for a while” because politicians will push money printing during a big election year. Rogers thinks what’s been going on is a “charade” and come the fall–look out! “This is all going to end in a terrible disaster for all of us . . . by the fall of 2012, I’d be very worried.”
The economy is clearly not headed for a real recovery, no matter how many positive reports are conjured up by the government. The government and the MSM can mask the decline, but they can’t stop it.
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