Loading ...Roger that post Gold/Titan. I noticed the phony numbers decades ago. There was a period at least 10 to 20 years where I calculated cost of living and other expenses at 7.5% per year, and the so called “Labor Dept.” was reporting 2% inflation. Businesses used those numbers for pay raises.
Another thing they never factor in, (re unemployment rate) compared to the 1950s ’60s and part of the ’70s, the masses had a lot more money to spend. Discretionary funds. Even kids out of high school were buying new cars with 10% down and 3 year loans.
The real actual unemployment rate was ALWAYS around 4-5%, for three decades, with excessive purchasing power for the employed folks. The masses of today, simply can not spend money into the economy like they used to, even with both spouses working.
So the net effect on the economy these days proves that the 4% unemployment rate of yesteryear, from 1945 to 1975, did not hurt the general economy. The 4% unemployment rate today is NOT as good as the 4% from ’45-’75.
Because the 96% employed TODAY simply can’t spend money like the ’45 to ’75 masses. So the net effect on the economy these days is more like a “real” unemployment rate of 20-25%. I never read shadowstats but I wonder if they figure it like I do. Probably not. They probably find bigger numbers of unemployed, but many may be self employed, or working in the under ground economy.