Follow The Bottom Violation
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Feb
4
The Unemployment Rate is SO Misleading
It's the duration, stupid.
Even if it weren’t a lie, just look at that vertical line…
1. The “unemployment rate” is a lie. It’s much higher than the government wants you to believe.
2. Even if it weren’t a lie, a 10% unemployment rate does not mean that the job market is 90% hot. Employment is absolutely frozen.
3. Unemployment has a much more dangerous dimension: duration. Have a closer look at the chart above, courtesy of the St. Louis Fed.
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Disclosures: Paco is long TBT, UCO, and gold. He also holds U.S. dollars by necessity, pending the advent of private gold-backed currencies.
You can buy his novel Discipline wherever books are sold.
6 Comments so far
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President Barack Obama seems to be committed to making sure that American unemployment rates remain high.
He wants to increase taxes on productive businesses.
He wants to increase taxes on America's most productive citizens.
He wants to bury the country's most profitable businesses under a mountain of new regulations.
And, most importantly, he wants to make as many Americans as possible COMPLETELY DEPENDENT on the Federal Government (read: “the Democratic Party”).
If I were a socialist or a communist I would love this man, Obama.
Pray for America and…oh, yeah: BUY GOLD AND SILVER.
I agree completely but you left out ammo with the silver and gold.
I love how short this article is. A picture is really worth a thousand words. For anyone who really believes half of the statistics coming out of Washington I have a bridge I want to sell you.
If the chart referred to a stock, analysts would be commenting that we were seeing “higher highs and higher lows”, signs of a bull market!!
Nice! Posting this article on my Twitter. Is that okay with you?
Of course! In fact, I really appreciate it… you can post anything I write. Thanks!
Paco