Fed Official: Real Unemployment at 16 Percent

Fed Official: Real Unemployment at 16 Percent

Fed Official: Real Unemployment at 16 Percent

Thursday, August 27, 2009 9:28 AM

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The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.


"If one considers the people who would like a job but have stopped looking -- so-called discouraged workers -- and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Loc

(visit the link for the full news article)


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Manufacturing jobs - gone.

Construction jobs - gone (reallocated).

First stimulus package needs "to work its way through."

Translation: "When the unrest becomes riots, the civilian police force spoken of during the campaign will be activated, providing ACORN, STORM, SEIU and others were permanent jobs (as in internment guards) and we will finish constructing the FEMA camps so desperately needed."


(visit the link for the full news article)

reply to post by skycopilot
This might help...

Real US unemployment rate at 16 pct: Fed official
ca.news.finance.yahoo.com...

~
He underscored that he was expressing his own views, which did "do not necessarily reflect those of my colleagues on the Federal Open Market Committee," the policy-setting body of the central bank.

Lockhart pointed out in a speech to a chamber of commerce in Chattanooga, Tennessee that those two categories of people are not taken into account in the Labor Department's monthly report on the unemployment rate. The official July jobless rate was 9.4 percent.

Lockhart, who heads the Atlanta, Georgia, division of the Fed, is the first central bank official to acknowledge the depth of unemployment amid the worst US recession since the Great Depression.

A pretty *Gutsy* call by a fellow member of the Fed...

Most of us have know this *forever*...

To bad he'll be *silenced* by his bro's and this to shall pass... :shk:

There's a small piece of truth in a mire of lies!

yay!

reply to post by skycopilot


Those ACORN workers, SEIU, civilian volunteers?

They try anything more, and they'll be better off baring their butts to a chainsaw.

They can only exist and thrive under the current level of civilization, and are protected by the law.

When the law starts to come apart, it won't be them making things happen. It will be the millions of armed, pissed-off citizens setting things right again.

In the nineteenth century West, when the law was either absent, or unable to uphold the safety and well being of a town, the good folks would often enough gather up and practice what we call vigilantism.

The problem for minor lawbreakers and troublemakers who happened to be in town when the good people decided they already had a bellyful, was that once the good people decided to clean up, they really, REALLY took the opportunity to clean house.

Passing gamblers and even loafers were often enough strung up with the more dangerous types that initially precipitated the action.

Human nature hasn't really changed. At least not the American nature. The citizens here are increasingly approaching the point of no return, and once they start to clean house, they'll make a clean sweep.

Nothing more fearful, terrible, and ruthless than good men and women taking the bull by the horns. Slow to anger, slow to act, once they do make a decision to effect retribution against technicalities and leanings, they will string up anyone in the vicinity.

Vigilantism is of necessity a timely, practical practice of lawful action once the current state of law is considered otherwise unobtainable.

The British called this a revolution, which is just a matter of degree.

One might note that the French went a bit overboard in a frenzy, but by the time their bloodlust was sated, it was a very polite society thereafter.

This unemployment? Just wait.

It's simmering.

Soon to boil over.

Of course the unemployment rate is high and this is just what Obama wants.

Obama is not trying to fix the economy but destroy the economy.

This is the only way he can enact fundamental change that he wants to carry out. You can't do this fundamental change in a booming economy.

Obama said in a radio interview in 2001 that the Constitution was fundamentally flawed because it restrains Government and it doesn't talk about redistribution of wealth.

Anyone who calls the Constitution flawed because it restrains Government is very troubling. The whole idea was to restrain government so no man or government can control peoples lives.

I don't know how anyone thought Obama policies were going to add jobs. All it did was transfer wealth to Bernanke and he transfered the wealth to Bankers here and overseas.

This is the way Obama is going to break the United States in order to enact his fundamental change. Wealth will be transferred to Bankers and interest that support Obama and the people will just suffer from more bad economic news when it comes to jobs.

[edit on 27-8-2009 by Matrix Rising]

Wow, glad the creators of the problem are acknowledging the problem.

The Fed needs to be ended and Bernanke needs to be imprisoned!


[edit on 28-8-2009 by ModernAcademia]

reply to post by skycopilot


Someone said the link is incorrect, so here it is again:
www.moneynews.com/streettalk/fed_official_

reply to post by skycopilot

That one you posted doesn't work either. Just use this one and paste it into the browser!
www.moneynews.com/


Zindo

www.abovetopsecret.com...

The U-3 unemployment isn't 9.7%. That is a beautiful lie. The reality for August was 10.98% or thereabouts,whilst september U-3 will be 11.55%.
They will no doubt not even change it for September.

And U-6 (include all the peopel who have stopped looknig for work,which is millions + all the housewives and mothers who are in the same boat, they aren't loking for work. And there are at least 10 million housewives in the USA who fall under that category)
And I'm not even adding people who have part-time jobs. Without them alone the U-6 is 20.3% and september will be around 21.4%

25 percent by the end of Decemer !

This 9.7% is a joke. People are falling off the jobless claims in hundreds of thosuands each month now and STILL unemployment is rising.

34% by June U-6