On the unemployment front, the government is touting a 3.5% unemployment rate. What are the real numbers when you count all unemployed people no matter how long they have been looking for work? Williams says, "The unemployment numbers are frightening. . . . I think we are seeing what I consider a phony number of 3.5%. After a year, the 'discouraged worker' disappears as an issue. . . . The unemployment number is really 24.4% the way it used to be counted by the Bureau of Labor Statistics (BLS)."
Williams is not expecting things to get better anytime soon. Williams contends, "I think the economy is going to get a lot worse. If you listen to what (Fed Head) Jay Powell said at his last press conference, he said he's looking to create a recession. That's effectively what he was saying, and they are doing it. . . . I think you have higher inflation ahead. I would try to get my cash into assets that adjust for inflation such as gold and silver. You also need to get something that has a long shelf life. . . . The problem here is going to be in the next year. You are going to see the economy getting worse and inflation getting worse. I don't see the Fed cutting back on the money supply, and they are already telling you they are going to keep raising the interest rate. Good buys are things that will spike with inflation. . . . Stock up on canned food. . . .I think you are going to see a few more percentage points on the government numbers coming up. That can, and I think will, happen as things deteriorate here."
There is much more in the 42-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with John Williams, founder of ShadowStats.com, as he explains how bad the economy really is. (10.11.22)
After the Interview:
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24.4% unemployment yes this seems par for the course under a demonstrably American hating Democratic administration. An administration that bans oil drilling, fracking, stops the Canadian tar sands pipeline in its tracks, uses up almost all of our war time reserves of fuel and goes hat in hand begging to both Venezuela and Saudi Arabia for oil. All the while strengthening Russia to a stronger ruble and a massive profit windfall by suffocating them with Draconian sanctions (leaving them absolutely no choice but to abandon SWIFT) only hurting America & the west but that seems like the plan all along, giving them perfect cover imo.
I could go on all day about this Democratic administration’s indoctrination of children, grooming of children, abuse of children, abortion/murder, starting WWIII, wrecking the economy, treating protesters like terrorists, labeling 1/2 the country fascists while being actual fascists colluding with big tech, Wall St and the legacy media to reek chaos thru their proxies BLM & Antifaschistische.
But then again I don’t want to be called blind to the fallacy of the binary political system we have. It’s just every time the D’s are in office the economy tanks, crazy new lgbtq and critical theory edicts get written into law and slowly but surely I can’t hardly recognize America anymore if I may say so….