"Real unemployment right now -- figured the way that the average person thinks of unemployment, meaning figured the way it was estimated back during the Great Depression -- is running about 12%. Real CPI right now is running at about 8%. And the real GDP probably is in contraction." Bill Fleckenstein, writing at MSN Money, provides a summary of an interview with economist John Williams on government number crunching. The full interview, with Kate Welling can be found here (PDF link) . More from John Williams at Shadow Stats.
posted by Zinger
on Mar 8, 2006 -