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Economic Statistics

Welcome to the page of economic statistics. Below you’ll find pertinent economic charts of current economic data, not only containing the filtered information the government only wants you to see, but also the additional information collected from other government agencies that reveals the truth behind what the government doesn’t want you to know. Information is provided by shadowstats.com.

U.S. Unemployment Rate

The U-3 unemployment rate is the monthly headline number. This is the unemployment rate that is announced every month by the White House. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment added to U-3.

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994 (see…Bill wasn’t so stupid after all!). That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers. So basically the formula is (U-3) + (U-6) + (Long term discouraged, currently not looking) = SGS Alternative Unemployment Rate…which is the TRUE unemployment rate that the government doesn’t want you to know about.

Chart of U.S. Unemployment
Courtesy of ShadowStats.com

Consumer Price Index

Have you ever notice when you go to the grocery market week after week after week or down to the mall to do some clothes shopping that prices continue to go up and up and yet when the federal government releases their report on consumer inflation it leads you to ask, “Which market are they shopping in?” Well, there’s a reason for that. Early in the Clinton administration some folks got together, primarily Michael Boskin, then chief economist to the first Bush Administration, and Alan Greenspan, Chairman of the Board of Governors of the Federal Reserve System, and decided that the CPI was overstated and if they could reduce the CPI inflation rate then entitlements, such as social security, would not increase as much each year, and that would help to bring the budget deficit under control.

Up until the Boskin/Greenspan agendum surfaced, the CPI was measured using the costs of a fixed basket of goods, a fairly simple and straightforward concept. The identical basket of goods would be priced at prevailing market costs for each period, and the period-to-period change in the cost of that market basket represented the rate of inflation in terms of maintaining a constant standard of living.

The Boskin/Greenspan argument was that when steak got too expensive, the consumer would substitute hamburger for the steak, and that the inflation measure should reflect the costs tied to buying hamburger versus steak, instead of steak versus steak. Of course, replacing hamburger for steak in the calculations would reduce the inflation rate, but it represented the rate of inflation in terms of maintaining a declining standard of living. Cost of living was being replaced by the cost of survival. The old system told you how much you had to increase your income in order to keep buying steak. The new system promised you hamburger, and then dog food, perhaps, after that.

So the chart that you see here shows the current CPI inflation rate as measured by current government standards and the “real” inflation rate, you know…the one we all see, as best estimated by Shadowstats.com based upon pre-1990’s standards.

Chart of U.S. Consumer Inflation (CPI)
Courtesy of ShadowStats.com

Democrats - Give a man a fish, he eats for a day.

Republicans - Teach a man to fish, he eats for a lifetime.

Libertarians - Learn to fish or starve.