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Merrill Lynch

Unemployment, Real vs. “Official”

The true level of unemployment is being understated, just as other government statistics are being manipulated to present a more favorable picture for the political class.

Matters appear to be getting so disgraceful that even financial wards of the State feel compelled to criticize the practice. Here is Doug Ross’ article on Bank of America’s interpretation of the real unemployment picture:

Merrill Lynch Chart Kerplodes the Administration’s ‘Official’ Unemployment Number

The central bankers-slash-crony capitalists who run the financial system can’t be happy with Bank of America’s disclosure ofthe following:

One can write lengthy essays, op-eds, and client letters explaining both why the labor force participation rate is plunging due to innocuous reasons such as everyone over 40 retiring yesterday full of jouissance and excitement to begin the sunset phase of their lives using copious life savings earning 0.0001% in interest, or, inversely, why this is one great big propaganda ploy by the BLS to make Obama look good a few

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