TAIPAN NEWS SOURCE WRITES WHAT MSM WILL NOT! FISCAL CRISIS IS HERE

Submitted by: Donald Hank

The Crisis Is Here
by Joseph McBrennan, Editor, Taipan Publishing Group

I just fell over some staggering numbers. I've been avoiding this topic for months now. It's not pleasant.

The long and short of this article is that QE3, or some similar bailout, is around the corner. And if it works like its predecessors, we will face unemployment levels that make the Great Depression look like a picnic.

Before we see any more bailouts, before we see any further quantitative easing, you must make it known to your representatives that YOU KNOW THE TRUTH.

It has to stop.

Our elected officials are doing all they can to keep their jobs. In fact, every time they tell you they're trying to help, know they mean help themselves maintain their lofty positions.

As you are aware, the media is just as tied to promoting and supporting the fascist agenda as both parties. Don't expect to get any useful research from them.

And the newest government propaganda purveyors, the banksters and large corporations, are just as complicit. They know exactly what's going on. They're just as guilty of keeping this illusion running.

Will $1 trillion be enough? We're giving away trillion-dollar bills, to show people what runaway inflation can do to a country's currency. This authentic banknote from Zimbabwe will impress your friends -- even if it won't buy a pack of gum in that poor, beleaguered country. Along with your trillion-dollar bill, we'll also send you an important free report on how gold and silver can help protect your savings. To receive your free report... and let us make you a trillionaire... go here.

They also know if you discover the truth, you'll stop buying and pull your money from the banks... the failed behemoths they bailed out.

I don't have any fun writing things like this, but the truth needs told. You must understand things are bad, really bad, and getting worse.

Let's begin with a definition given to us by our government and the media lap dogs. It goes something like this:

"Yes, it was a severe recession, but nothing near the 25% unemployment rate we saw during the Great Depression."

I'll skip Washington's GDP numbers as the sign of depression or recession; they're too easy to manipulate. We'll use the 25% that is so often sited as the "depression criterion."

I will use the exact numbers produced by the Bureau of Labor Statistics (BLS). (The full report may be accessed here.)

It cites a total working-age population of 239 million. Then it immediately drops this number by 36% to create a civilian workforce number of 153 million. In other words, the BLS erases 86 million potential workers and then says just 14 million Americans are looking for work -- an unemployment rate of 9.2%.

It's a lot easier to sell unemployment numbers if you can wave a wand and drop millions from the tally, but let's ignore this for now.

Goodbye 86 million, we'll visit you in just a few lines.

The BLS has something two categories called "Marginally Attached to the Labor Force" and "Discouraged Worker." They total roughly 3 million more unemployed.

Using these numbers, without much effort, we get a total of 17 million out of work, for a rate of 11%.

It gets worse from here.

Looking into these numbers we see that more than 18 million are part-time workers for non-economic reasons and part time for economic reasons.

Confused yet?

That's the point... tell the masses what they want to hear, and hope nobody checks.

Sad thing is, it works. People believe the numbers.

Even the numbers they produce show a more severe situation. Here's their definition of U-6, the broadest measure of unemployment:

U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.

What's the U-6 unemployment rate? Try 16.2%.

Let's take this one step further and move outside the "official" numbers our government wants us to believe and head to Shadow Government Statistics (SGS). (Site here.)

This group takes the official numbers and adds back in the long-term unemployed... the group that after 1992 our government conveniently ignores.

Hello again to some of our missing 86 million wannabe workers. They pump the unemployment rate up to 22%, as SGS's chart below reflects.

View larger chart

You'll note the spike in unemployment took place remarkably close to when the bailouts began. Borrowing a line from Dr. Phil... Big Ben, how's the quantitative easing working for you?

Since Big Ben believes he can inflate his way out of any problem, and seeing that unemployment jumped from about 12% to 22% under the first two rounds of printing cash, we can expect another 10% jump with a new QE3.

That means 32% unemployment coupled with, worse yet, about 50% or so of the population on some sort of government welfare. Impressive results. It's hard to imagine anyone destroying an economy so effectively without purposely trying to do so.

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It reminds me of something...

"The best way to destroy the capitalist system is to debauch the currency."
-- Vladimir Lenin

Twenty-two percent unemployment is a hard number to swallow. So, for the sake of thoroughness, I checked another reliable source. I went to TechnoMetrica Market Intelligence. This company runs surveys for the likes of Investor's Business Daily and theChristian Science Monitor.

Here's what the president of TechnoMetrica said (emphasis mine):

"Our numbers are always very accurate, so I was surprised at the discrepancy with the government's numbers..."

ThenoMetrica's unemployment survey for the second week in July is running at 28.6%. I wasn't surprised. Only saddened.

We are in the greatest depression this nation has faced and our government is doing all it can to keep you from knowing it.

Running from the problem will not solve anything. You need to prepare. The calm you may feel now is only the storm's eye.

Please contact your representatives. Tell them you know the truth and the only solution is for them to get out of the way of the crash to come.