“The truth will set you free.” That’s a famous bible line. The problem is we don’t hear much truth. Our federal government says we have 9%-ish unemployment. Who are they kidding or lying to. may be a better way of putting it. Here in Michigan our “official” unemployment rate is 10.2% in April. Remember that number is only representing people actually receiving unemployment benefits. If you were to include discouraged workers who gave up looking for a job and those working part time who want full-time work but can’t get it, the unemployment rate would be more than 20%. It’s called the U-6 unemployment rate, and it measures under-utilization in the labor market. According to the U.S. Bureau of Labor Statistics, from the second half of 2010 through the first quarter of2011, Michigan’s U-6 rate was 20.3%. So what happens to all those people? My guess would be they would be forced onto some sort of government assistance.
The inflation rate is low currently around 3.8% as of August 2011. Another lie! Anyone buying groceries and filling up their vehicles knows better. In fact the energy index has risen 18.4% over the last year, while the food index has increased 4.6%, according to the U.S. Bureau of Labor Statistics. The government position is that food and gas are not figured into the inflation rate. Why not? The prices of cars are figured in, but I don’t buy a new car every week. I sure do buy groceries and fill my gas tank weekly.
The news media, I don’t care what station or affiliate, says we are in a recession. Then they said we are coming out of the recession. They are claiming good times are just around the comer. Now it’s a double dip recession. Are these more lies? How about we start using the ugly word depression? Maybe that’s what we’re really in. Nobody is telling us the truth. Without truth there’s no way for businesses to plan for expansion or just maintaining. Without truth there’s no way for citizens to plan what they should be doing. Do we/should we buy a new car, buy a used car, sell our house (if we can), buy a house, move to a new city, or state.
I think Ben Bemake stated that the USA would be able to pay its debt because the Federal Reserve would just print more money. That’s a lie too! Every dollar they print or add to the USA and world economy makes our dollars worth less. Eventually worth less becomes worthless. There is a difference! When our dollars value is zero, than what?
Look at what’s happening in Europe. Greece can borrow money form Norway only if Greece puts up its national treasures as collateral. Eventually, the people, the governments, the banks we borrow money from will want collateral too. What do we give as collateral: Yellowstone Park, the gold in Fort Knox (if it’s still there) or the oil fields in Alaska? Collateral has real value. Paper dollars, euros, yen are just paper. Somebody should be telling us the truth about that.
Just my thoughts,