Friday, December 04, 2009

Michael Lind: Real Unemployment in US is Twice Official Figure [UPDATE]

[UPDATE: Wow, real content at Techcrunch. Be prepared to laugh & cry as Mint Explains Why The Real Unemployment Rate Is 17.2 Percent (video)]

For those of you who wonder why I have taken up the Way of the Bottle(sm), here's one data point I've known about for quite some time, a slap awake to most of you youngs:

“The official unemployment rate is 10 per cent, but that leaves out two groups of people – those who are underemployed, who are working part-time but would like to work full time, and also people who have given up working entirely and are not even searching for work anymore,” Lind said.

”When we add these two groups to the official rate, the actual rate of unemployment is close to 19 per cent, nearly one out of five Americans.”

[quote from Michael Lind via “Real unemployment in US is twice official figure” ]

"You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe." -Morpheus, the MATRIX.

Isn't the 20% mark where we start to see 'failed state' scenarios? And this isn't just California?

Caaaaan yoooooou diiiiiig it?

Now kids, ask why India was over for dinner the other night with 'the One' and oh, why do we need more H1B guest workers taking what were middle class jobs?

Let that bake your noodle.

Mentok out.

"The Warriors (The Ultimate Director's Cut)" (Walter Hill)

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