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

Washington Examiner ^ | 1/21/14 | Paul Bedard

[SoFloFreeper]

Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment 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.

[SoFloFreeper]

Obama and the media are liars.

We are knee deep in ObamaDepression. Obamanomics is a failure.

[ArtDodger]

Seems about right. If there are 315 million people in the country and 90 million are out of work, how does that become 6.7%?

[2ndDivisionVet]

Ping!

[Bullish]

Maybe Obama and the media can just lie about it and everything will be alright.

[Conspiracy Guy]

0bamath

[LibLieSlayer]

If figured by the same formula that was used to calculate UE during the Great Depression... which yielded a high of 24.9% in 1933... he is correct. We are in a depression and have been... our government is no longer ours. They lie to sustain the illusion and give away fiat money to delay the inevitable soup lines and riots.

[LibLieSlayer]

obamamath.

[LibLieSlayer]

Sorry... didn’t see your post... great minds and all of that!

[Hoodat]

Maybe Obama and the media can just lie about it and everything will be alright.

It has worked so far.

[harpu]

Some day the media is going to have to ‘pay the piper’ for letting (and enabling) this clown in the White House get away with all he’s done to employment in this country.

[Ghost of SVR4]

They got around “soup lines” lines with EBT cards.

[LibLieSlayer]

Yep.

[Conspiracy Guy]

You used more syllables than I did. So it is different. But I do the same thing all the time.

[LibLieSlayer]

:-)