Real Unemployment at 23% – Dampening the Excitement
By Michael Collins
There was a shadow over the national conventions of both political parties. The people know that the economy is much worse than anyone in the power structure will admit. As usual, the people are right. The real rate of unemployment is 23%, not the official figures we hear on a regular basis. The 23% figure represents all of those unemployed no matter how long, the involuntarily under employed (part time), and those who have given up looking, the discouraged, due to an chronically arid job market.
If either wing of The Money Party, Democratic or Republican, admits to the the real unemployment situation, they would be forced to admit a complete system failure and compelled to act to act.
There would be no choice but to drop the nonsense about austerity and balanced budgets.