Preppers Cookbook
Xenogenesis
The Prepper's Blueprint
The Prepper's Blueprint
Preps and Solutions
(Sponsored Ads)
Strategic Relocation
Surviving Collapse
US Deception
Bulletproof Home Defense
top Prepper Web Sites
Recently Posted Articles and Videos
The Daily Sheeple
Ready Nutrition - Homesteading and Preparedness
The Prepper Website
SGT Report
Featured Destinations
The Liberty Mill
Web Destinations
  • * Infowars *
  • * Jeff Rense *
  • * Prepper Website *
  • * Ready Nutrition *
  • * SGT Report *
  • * Stan Deyo *
  • * Steve Quayle *
  • * Survival Blog *
  • * The Daily Sheeple *
  • * The Organic Prepper *
  • * Wide Awake News *
  • 321Gold
  • Activist Post
  • All American Gold
  • Alt Market
  • American Preppers Network
  • Amerisafe Neighbor Network
  • Ammo For Sale
  • Apartment Prepper
  • Armageddon Online
  • Backdoor Survival
  • Bearish News
  • Beer Budget Survival
  • Berkey Guy Blog
  • Beyond Collapse
  • Black Listed News
  • Blue Collar Prepper
  • Calculated Risk
  • Chris Martenson
  • Code Green Prep
  • Collapse Medicine
  • Collapse Net
  • Countdown to Collapse
  • Daily Crux
  • Deadline Live
  • Doc Medina – Soapbox
  • Don't Tread on Me
  • Doom & Bloom Survival Medicine
  • Doomsday Prepping
  • Education After the Collapse
  • Enemies Foreign & Domestic
  • Eric Peters Politics
  • Family Survival Plan
  • FloJak
  • Fraudonomics
  • From the Blind
  • From the Trenches
  • Front Line of Defense
  • Full Spectrum Dominance
  • Government Is a Joke
  • Homestead Revival
  • International Forecaster
  • Jack Blood
  • Jeff Rense
  • Joe For America
  • King World News
  • Lew Rockwell
  • Liberty Blitzkrieg
  • Liberty Mill
  • Market Ticker
  • Max Velocity Tactical
  • Mish – Economic Trends
  • Modern Survival Online
  • Occupy Corporatism
  • Off Grid Survival
  • Oracle Broadcasting
  • Outdoors Native
  • Patriot Net Daily
  • Peak Prosperity
  • Pioneer Living
  • Preparedness Review
  • Prepography
  • Prepper Central
  • Prepper Dashboard
  • Prepper For The Worst
  • Prepper Trader
  • Prepping Blogs
  • Prepping for Hard Times
  • Prepping to Survive
  • Project Chesapeake
  • Rawles' Survival Blog
  • Sherrie Questions All
  • SHTF America
  • SHTF School
  • SHTF Wiki
  • Skeptical Survivalist
  • Sound Money Campaign
  • Sovereign Man
  • Sticker Armory
  • Story Leak
  • Survival and Prosperity
  • Survival Blogs
  • Survival Life
  • Survival Logic
  • Survival Magazine
  • Survival Prepper Joe
  • Survival Pulse
  • Survival Spot
  • Survival Week
  • Survivalist Boards
  • Survivopedia
  • Tactical Intelligence
  • The Burning Platform
  • The Prepared Ninja
  • The Prepper Journal
  • The Prepper Project
  • The Silver Bear Cafe
  • The Survival Mom
  • The Warning Signs
  • TheSurvivalistBlog.net
  • Truth Is Treason
  • Underground Medic
  • United American Freedom Foundation
  • Urban Survival Site
  • Value Investing Pro
  • What Really Happened?
  • Wood Pile Report
  • Yoga Sacramento
  • Zero Hedge

  • Clarocet for Kids
     

    Flashback: Bernanke on Unemployment: ‘we don’t think it will get to 10 percent’

    Mac Slavo
    November 6th, 2009
    SHTFplan.com
    Comments (5)
    Read by 70 people

    Today’s unemployment report from the Bureau of Labor and Statistics is anything but a green shoot. The official U-3 unemployment number is 10.2%. The broader and more comprehensive official unemployment number, the U-6, is at 17.5%. The U-6 counts all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, and all the people who dropped off unemployment benefits because their unemployment benefits ran out. John Williams at Shadowstats.com suggests that real unemployment is actually running at 22%, which, by our calculation, is approaching Great Depression unemployment numbers.

    The unemployment report may come as a surprise to those who have been following the Obama administration and mainstream economists like Paul Krugman. Here are some choice quotes from those we’ve entrusted with our economy:

    “That’s a story I’m confident will be repeated at companies across the country — companies that are currently struggling to borrow money selling their products, struggling to make payroll, but could find themselves in a different position when we start implementing the plan,” Obama said. “Rather than downsizing, they may be able to start growing again. Rather than cutting jobs, they may be able to create them again.”

    - President Obama (February 13, 2009)

    —-

    “That’s our hope – that’s our hope. There’s no doubt that without it, that’s where we were looking: double-digit unemployment. That’s what we’re trying to forestall.”

    -David Axelrod, Senior Adviser to President Obama on whether the stimulus plan will keep unemployment from reaching 10 percent (February 15, 2009)

    “I’m looking for the unemployment rate. I want to see the unemployment rate stay safely below 10 percent, which is by no means a foregone conclusion. And I want to see it coming down notably next year.”

    -Nobel Prize Recipient and Economist Paul Krugman on the benefits of trillion dollar deficit spending spending (January 21, 2009)

    “I don’t think so. I think while we’re going to see some substantial job losses, frankly what is important about the president’s program here is that it is going to contain what would otherwise be just a vicious cycle, people spend less, therefore they earn less. We’re going to contain this problem.”

    -Larry Summers, Lead Economic Adviser to President Obama (January 18, 2009)

    “Currently, we don’t think it will get to 10 percent. Our current number is somewhere in the 9s.”

    -Ben Bernanke, Chairman of the Federal Reserve testifying before Congress’s joint economic committee (May 5, 2009)

    So far, no good. The policies recommended by Messers Krugman, Axelrod, Bernanke and Summers seem to be having the opposite of the intended effect. Tens of thousands continue to lose jobs, credit continues to contract, spending continues to contract, and personal credit & mortgage delinquencies are on the rise.

    Luckily, America has a President in office who is changing the way Washington works from the inside out and is holding strong to the commitment he made in April of 2008:

    “Today’s job news is the latest indicator of how badly America needs fundamental change from Bush-McCain policies that have been devastating for working families and catastrophic for our economy….”

    “Our economy is struggling because the American people are struggling, and simply bailing out investment banks on Wall Street will not help Main Street.”

    -Presidential Candidate Barack Obama (April 3, 2008)

    Thank goodness that there’s at least one elected official in Washington that doesn’t believe in bailing out investment banks on Wall Street to help Main Street!

    Recent developments in the economy suggest that the recession is over, recovery has started and for the consumer, it’s business as usual throughout America’s shopping malls.

    All sarcasm aside, we ask our readers to consider recent statements from the public and private sector in regards to the economy. Are things really getting better? Given what we’ve been told so far, is it prudent to put our trust into the very officials who have gotten us to where we are today?

    Sources and Hat Tips:

    For a more detailed breakdown of the (Un)Employment report, we recommend Karl Denninger’s article Employment Report: OUCH

    Hat tip to Mish for the U-6 definition provided in this article

    Visit Shadowstats.com to view John Williams Charts on U-3, U-6, and SGS Alternative unemployment statistics

    Please Spread The Word And Share This Post
        name:     email:        details

    Author: Mac Slavo
    Views: Read by 70 people
    Date: November 6th, 2009
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

     

    5 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Ha!  The first quote from Obama is classic.
      If any of this nonsense actually worked, or at least did more good than harm, we would literally be able to just keep printing money and giving it to people…and we wouldn’t have to work at all.  Each person could be a millionaire in a matter of seconds.
      That basically what all of this amounts to…just to a lesser degree.
      As for Bernanke – for all I know, he is the nicest guy in the world…but why anyone would put ANY value in his opinion on the economy at this point is way beyond me.

      Well, let me correct that – you could use Bernanke’s predictions/opinions to determine what IS NOT going to happen.  So, I guess there is arguably SOME value there…

      Rate This Comment: Thumb up 0 Thumb down 0

    2. +1 on the Bernanke Predictor Scale!

      Rate This Comment: Thumb up 0 Thumb down 0

    3. Schaef says:

      This story would be so much more captivating if it was about Bernanke being RIGHT about something, because that would in fact be news!

      Rate This Comment: Thumb up 0 Thumb down 0

    4. Rick Blaine says:

      Hey Mac,

      Check out Schiff’s comments today:

      http://www.youtube.com/watch?v=kl4OKXhlMQY

      …at about 3:00…re just giving money to everyone.

      Maybe I am learning something after all!

      Rate This Comment: Thumb up 0 Thumb down 0

    5. Wow, I think he must have read your comment earlier and then done his video blog, because it’s basically the exact same thing you said!

      Rate This Comment: Thumb up 0 Thumb down 0

     
    SHTF Plan - RSS Feed - Preparedness News, Commentary, Resources
    There's an 84% chance you won't remember where you read our unique information. Don't be another statistic.
    email 
    details
    Flojak Hand Water Pump
    Survival Food
    Bulletproof Home Defense
    Auto Survival Kit
    Food Storage
    Advertisement
    Community Discussion - User Comments
    Patriot Dawn

    Web Design and Content Copyright 2007 - 2014 SHTF Plan - When It Hits The Fan, Don't Say We Didn't Warn You - All Rights Reserved

    We Support The Constitution First Amendment Press Association

    Supercharged Intel Xeon5620 on an 8-Core Dedicated Storm Server Powered By Liquid Web

    Dedicated IP Address: 67.43.5.170

    The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.