Thank goodness we have John Williams from shadowstats.com to tell us real economic data without the government gimmicks.
Subscription data headline:
Real unemployment is 19.8% using the pre-Clinton formula. A loss of 750,000 jobs.
It’s not your imagination, it really is ugly out there.
This is a far cry from the official 8.5%.
New claims for unemployment insurance are highest since 1975.
We are now in 1970’s Recession territory, heading into 30’s Depression territory. For reference the unemployment percentage for the 1970’s was 15% and 30% (approx.) for 1930’s Depression.
Government officials are claiming that their unemployment numbers will be in the double digits before the end of the year. That means we have not hit the bottom and real unemployment will be over 20%.
What to do if you haven’t lost your job yet:
- Save money for expenses in case you lose your job.
- Pay down debt or refinance for lower monthly payments.
- Search for multiple streams of income.
- Move to an area with lower unemployment.
muses of the moment 