New Figures--Unemployment Soars!

The new figures have been released from the government concerning the jobless rate in America.

A key fact to remember is that the way these figures are calculated has changed since the 1930s through the early 1990s. Since that time the government does NOT figure in those who were laid off and were forced to settle for part-time jobs, or those who gave up looking for work altogether out of sheer despair.

The jobless rate, according to the present method of calculation, is now 9.8%. Roughly 230,000 more jobs were lost in the month of September alone.

But when the old method of calculating joblessness is used, the unemployment rate in the U.S. stands at a whopping 17%--the highest since the 1930s.

Obama told Americans all across the land during the campaign that his 'stimulus package' would prevent any more jobs from being lost. So far, the opposite has happened as the unemployment rate keeps moving upward.

Don't Trust Gov't's 'Good Economic News'

Despite the news that the unemployment rate dropped slightly in July, we still lost 250,000 jobs. The numbers weren't quite as bad as the gov't had anticipated.

But Obama and company took to the airwaves to tout his programs and to claim he 'saved America from economic catastrophe.

Americans should take the supposed 'good news' with a grain of salt. The actual unemployment figures for the U.S.--using the same criteria used throughout much of the 20th century--is 16.9% instead of 9.4%.

This is due to the fact that the government no longer counts those that are 'under-employed'--those who are forced to work part time when they need full time jobs to make it.

In addition, a sustained recovery is simply not possible with deficits and a national debt being what they are, in the multi-trillion status. We have never been down this road before in American history. Even the Great Depression did not see deficit spending and a national debt like this.

Western Rifle Shooters Association posts an excellent article concerning the inevitability of a continued downturn in the economy.

Banks Still Failing, So Where's the Sign of Recovery?

As the Obama administration continues to assure the public that we are now seeing signs of recovery in the economy, the facts say otherwise.

Other than the rebounding stock market, banks are still failing in near-record numbers. Just yesterday, 6 banks were shut down by the Feds in the state of Georgia alone.

In addition, the economy continues to lose jobs to the tune of 400,000-500,000 per month, the housing industry is still in the toilet, and Obama's fascist experiment with 'Government Motors' is failing badly.

GM lost over 20% of its sales last month, while Ford, and only major U.S. carmaker not to take stimulus money, showed its first profit in over a year.

And don't get too comfortable yet, my friends. There is another trainwreck on the way as commercial mortgages begin to fail in the coming months.