Global Economic Crisis Deepening

[Donnachaidh]

http://www.opednews.com/articles/Global-Economic-Crisis-Dee-by-Stephen-Lendman-110609-963.html

In the 1960s, economist Arthur Okum began calculated America's Misery Index by adding the unemployment and inflation rates for a sense of public pain or lack of it in good times.

In May, it hit a record high exceeding 25, surpassing the earlier June 1980 21.98 top, based on how both measures were then calculated, not today's methodology, manipulated to hide painful truths.

At issue is:

-- over 22% unemployment, including discouraged workers and the so-called "birth-death model" estimate of net non-reported jobs from new businesses minus losses from ones no longer operating; during hard times, painful truths are hidden by creating non-existent jobs out of whole cloth instead of subtracting them to reflect fewer, not additional new businesses;

More at the link --

[OhioChick]

1. K&R n/t

[aquart]

2. OR they could tax the rich.

And set up an infrastructure jobs corps with the money. Poof! Bad economy goes away.

[nichomachus]

4. The trouble is that "they"

don't want the bad economy to go away. The people who are running this show want us back to a feudal society where the serfs work for nothing and pay extortionate taxes so the elite can live high off the hog and run their wars.

[ixion]

3. k/r

The grade is getting steeper.