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Insider memo reveals US unemployment rate exceeding 37 percent; 'Misery Index' worst in 30 years

Wednesday, March 05, 2014 by: Ethan A. Huff, staff writer
Tags: unemployment rate, Misery Index, US economy

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(NaturalNews) Nearly everything that the federal government has been saying about unemployment, inflation and the current state of the U.S. economy is a fraud, reveals an insider memo recently generated by a prominent Wall Street advisor. As reported by the Washington Examiner, calculations made using legitimate data show that actual unemployment has now exceeded 37 percent, and that the so-called "Misery Index" (MI) is at the highest level in about 30 years.

This runs completely counter to all those glowing reports coming out of Washington, which would have us all believe that unemployment is low and things are improving. To the contrary, David John Marotta says the unemployment rate is realistically more than 600 percent higher than what the federal government claims. The economy in terms of MI is also the worst that it's been since the early 1980s when President Reagan took office -- MI reached a peak of 20.76 back in 1980, at the tail end of the Carter administration.

"Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent," says Marotta. "This number obviously includes some people who are not or never plan to seek employment. But it does describe how many people are not able to, do not want to or cannot find a way to work."

In Marotta's view, the government is essentially fudging the figures to make it seem as though the economy is healthier than it actually is, a deception that is easily confirmed by taking a look at job growth figures. In order to cover just the annual population increase in the U.S., a minimum of 127,000 new jobs must be created every month. During the recent month of December, however, when there were already many more retail positions available for the holidays, a mere 74,000 jobs were added.

"Unemployment has never been measured very accurately," explains Marotta in his memo. "Calculations do not count those who have just entered the labor force and haven't found a job yet, who have been searching for employment so long they have given up the search, who work part time but are actively seeking full-time work and who are actively seeking employment but were not included in the monthly jobs survey."

Endless money-printing by Federal Reserve is leading to rapid inflation

You may be asking, "if things are really this bad, then why is the stock market doing so well these days?" According to Marotta, the answer to this is a combination of large companies continuing to break profit records by outsourcing or automating U.S. jobs and the Federal Reserve continuing to inject tens of billions of dollar in fiat currency into the money supply.

Roughly $85 billion in new currency, according to the latest available data, is being created by the Fed every single month. This expansion of the money supply is only continuing to devalue the U.S. dollar, which in turn is triggering inflationary mechanisms that are leading to constant price increases for virtually everything, including stocks.

Obamacare is also driving unemployment, says Marotta, as the legislation actually incentivizes businesses to cut full-time workers from their ranks. Small businesses, it turns out, are better off simply maintaining fewer than 50 full-time employees, even if they technically need more than this. And large businesses are setting up shop in countries where labor is significantly cheaper -- that or they are automating much of their workflow.

"[T]he stock market can occasionally benefit from the misery index," explains Marotta, noting that stock prices can be deceptive in terms of deciphering the health of the economy. "It does not correlate to an economic recovery but is a powerful financial asset for those wise enough to remain invested and diversified during all kinds of economic movements."

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