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Unemployment now over 20%

I just came upon an interesting website that shows the Shadow Statistics from those officially reported by the government.

This site says that we are actually in a period of much larger deflation (according to the CPI) than reported and that the current unemployment rate is actually at about 20% (not the 9% reported in the media.)

Their explanation for this is in the “discouraged workers” who are those people who have simply given up looking for work within the last 30 days. Isn’t that a little scary? That means that 1 in 5 people (both looking and not looking for work) do not have jobs.

Reading these types of things gets me very nervous about the recent rally in the stock market. I’m still following some of the advice that Dent shared about an upcoming depression.