RE: Greg Hunter Interview: John Williams - Does the FED Get the Blame?
Outrageous - true unemployment i the USA is actually 22%!!! Here though we have jobs that are zero hour contracts. That is, you might work a few hours a week or zero hours. But the government count these jobs in their unemployment figures AS FULLY EMPLOYED.
A long time ago the U.S. government changed the way unemployment and inflation is calculated. As I understand it the current unemployment calculation counts people who have two jobs twice. Meaning that it is the number of people in the available workforce divided by the number of jobs held. When the number comes out to 0.96 then there is 4% unemployment. Thus the people working more than one job helps to bring down the unemployment number.
The inflation number in the U.S. does not count the things we need to survive. It is like it assumes people do not need to eat. It is said inflation is low, even though you can see inflation in the price of groceries.
Yes, it is a scam the way the numbers are calculated. It seems like it is a scam to pacify the population.
Have a great weekend!
Steem on,
Mike
Yes, I've read and heard that many times.
Here in the UK we have two indexes, the Consumer Prices Index (CPI) and the Retail Prices Index (RPI) to measure inflation. Each aim to measure the changes in the cost of buying a 'basket' of products, but they cover different items and differences in formulae used to calculate the inflation rate mean that CPI is often lower than RPI.
Consumer Prices Index CPI forms the basis for the Government's inflation target that the Bank of England's Monetary Policy Committee is required to achieve.
Yes, it is just a deception to the public and also to confuse them.
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