Article

2011-01-04 Economy

Hiding a Depression: How the US Government Does it

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Posted by g(r)omgoru 2011-01-04 08:09|| || Front Page|| [1 views ] Top

#1 There are plenty of ways to hid it. Here are some methods the Australian government does it. Transfer people from unemployment to sickness or disability, if a husband or wife works disallow the other to register and job training programs.

Then there are also plenty of people studying who would rather work. Plenty on early retirement too.

Posted by BernardZ 2011-01-04 08:21|| 2011-01-04 08:21|| Front Page Top

#2 This is a bit unfair.

The BLS puts out alternative measures of labor underutilization. It has done so for many years, including during the Clinton and Bush Administration.

During the Bush Administration, the U-6 (the traditional U-3 Unemployed + part time + discouraged + marginally attached) rate got to 10% (it is about 17% now). By and large the media didn't make a big deal of the U-6 rate back in Clinton and Bush days and reported the U-3 rate (which briefly got to 6%).

The Govt isn't hiding anything.

Yes, the media is generally leftist and will scream "Jobless recovery" during republican administrations while saying "steady but slow growth" during democratic ones but that's the media, not the govt.

Posted by Lord Garth 2011-01-04 11:14|| 2011-01-04 11:14|| Front Page Top

#3 I think, like the WikiLeaks "revelations", it's a matter of paying attention. There have been reports for two years of people doing one of several things when the unemployment money runs out:

o retire early (supposedly lots of that happening, leading to predictions that Social Security will run out of money considerably sooner than predicted)

o go on Welfare (the social security net for the poor)

o get a job in the underground economy

o live off their savings, including emptying retirement accounts (supposedly lots of this happening, a terrifying prospect for their grandchildren, did they but know it)

o move in with parents or children (leading to more empty houses

Posted by trailing wife 2011-01-04 11:59|| 2011-01-04 11:59|| Front Page Top

#4 REAL GDP = GDP - Increase in Debt.

Posted by Bright Pebbles 2011-01-04 13:19|| 2011-01-04 13:19|| Front Page Top

#5 The truth hurts and is not welcomed by the electorate.

Posted by Anguper Hupomosing9418 2011-01-04 17:19|| 2011-01-04 17:19|| Front Page Top

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