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News Link • Economy - Economics USA

Expect Seven Years of Subpar Growth and High Unemployment

• Michael Shedlock / Mish

1 Comments in Response to

Comment by Lola Flores
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 Right of the bat, I have a problem with this:  "The Federal Reserve this week projected that the national unemployment rate, currently at a 26-year high of 9.5 percent, will pass 10 percent by the end of the year."

First and foremost, WTF is the Federal Reserve doing projecting/forecasting unemployment trends?  If that weren't enough, they're dead wrong:  if you add lies, incompetence, bureacracy and the people who are either no longer collecting unemployment but still unemployed plus those who are underemployed, the figure should be more like 20% right now, not a year or seven down the right but at this moment.  As for the rest, well, it's all hogwash!

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