Endless QE and Low Wage Bias
September 7, 2012
The privately owned Federal Reserve will pump more fiat dollars into the economy as job growth showed a sharp decline in August.
“While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work,” reports Reuters.
That number is seriously off the mark, of course. The real unemployment rate is over 20 percent. The government’s U-6, which gives a more complete figure of how many people are really out of work, pegged the rate 14.9 percent at the start of August.