Wall Street adviser: Actual unemployment is 37.2%

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‘Misery Index’ Worst in 40 Years

Paul Bedard  writes:  Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

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The Hammer: HHS Demographic Report ‘Sounds Like a Lot of Happy Talk’

From NRO:  The Department of Health and Human Services says that the demographics it released today about Obamacare enrollees aren’t a cause for concern; Charles Krauthammer says:

“…sounds like a lot of happy talk.”

John Shinkle/POLITICO

John Shinkle/POLITICO

With 2.1 million Americans enrolled in Obamacare so far, only 24 percent are in the key 18–34 age bracket — fewer “young and healthies” than expected, Krauthammer noted. But insurance companies aren’t especially worried because, if they suffer huge losses, Obamacare provides for a government bailout that will save them from raising their premiums and beginning a “death spiral,” Krauthammer said.

“That’s why Republicans ought to pass within a week or two or three — right now — a provision to abolish the bailout, and then you will see insurers speaking in a completely different way”

NRO

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