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Sunday, September 18, 2011

U.S. Real Unemployment Rises To 22.8%

U.S. Real Unemployment Rises To 22.8%
By Kurt Nimmo
Infowars.com
September 18, 2011

According to the Census Bureau, nearly 1 out of 6 Americans
now live in poverty.

From the Associated Press today:

The Census Bureau’s annual report released Tuesday offers a snapshot of the economic well-being of U.S. households for 2010, when joblessness hovered above 9 percent for a second year.

It comes at a politically sensitive time for President Barack Obama, who has acknowledged in the midst of a re-election fight that the unemployment rate could persist at high levels through next year….

Measured by total numbers, the 46 million now living in poverty is
the largest on record dating back to when the census began tracking
poverty in 1959.

Based on percentages, it tied the poverty level in 1993 and was
the highest since 1983.

In fact, the real unemployment figure is 22.8%, according to
John Williams’ Shadow Stats.

During the last Great Depression, the unemployment rate peaked
at 25 percent in 1933.

The current boss of the Federal Reserve, Ben Bernanke, has
admitted that the Federal Reserve engineered the Great Depression
(and future Federal Reserve chairmans – if we don’t get rid of them
will probably admit the current Greatest Depression was created by
the banksters).

Both unemployment and poverty are created by the fractional
reserve system and its expansion of the money supply.

“Poverty can be caused by real economy, that is to say, by the
lack of supply of real things,” writes economics professor
Ahamed Kameel Mydin Meera.

"It can also be caused by the monetary system. In a modern capitalist economy, the creation of abundance of money that accrues very unevenly in the hands of individuals can aggravate poverty."

Milton Friedman, a well-known monetary economist, says that inflation is predominantly a monetary phenomenon.

If this is the case, the worsening of the global poverty problem can be significantly pointed at the institutions that are responsible for the creation of fiat money.

In the United States, that institution – not federal, as claimed, but owned by a cartel of bankers – is the Federal Reserve.

http://beforeitsnews.com/story/1106/504/US_real_unemployment
_rises_to_22.8.html

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