Wall St. Advisor: Actual Unemployment Is 37.2%, Misery Index Worst In 40 Years (Video)

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn’t being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.

This is no conspiracy theory.  The government has manipulated the numbers to look better than they really are by counting only the people who are looking for work as defined by them.  People have stopped looking are not counted.  This leaves out a huge chunk of people who are not counted in the official numbers.  The 37.2% includes everyone who is of working age and currently unemployed.  That is about 90 million Americans without work.  -Mort