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.

The Great Depression Ahead?

I’ve spent a lot of time researching the economy and future trends. In that research, I stumbled upon a book by Harry S. Dent Jr. called “The Great Depression Ahead.” It’s a great read that goes through the many cycles (decentential business cycles, consumer spending cycles, innovation cycles) related to the current economy. Quick summary: we’re heading into a depression and real estate bust.

This video is an update to the forecasts in the book and it’s also a great information piece for people who haven’t (or won’t) read the book.