Comments by "Frederick Miles" (@frederickmiles8815) on "Jeff Stein: Fed Chair REVEALS Real Unemployment Rate Higher Than Great Recession" video.

  1. Actually I think the U6 rate is over 12%
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  2. Also the Fed cannot create inflation, outside of signaling to the markets. Healthy inflation can only be achieved via bank lending, that is how currency is truly created in fiat - debt based economic systems, no bank wants to lend during a depression where everyone is levered up.
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  3. But i dont think the left understands debt monetization by the Fed (QE) leads to a deflationary tailspin that we cant grow our way out of.
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  4.  @Shawn0patrick  shadowstats uses the currently defunct U7 formula, the same one used during the great depression. While I like shadowstats, the U7 didnt recognize occupations such as government employee as an employed citizen. I do think the U6 is closer to realty, like a best case scenario; but I am not sure if U7 accurately reflects the current unemployment rate given the current amount of Americans who work for the federal, local, or state government.
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