His chart, complements of Merrill Lynch, BLS and via ZeroHedge.com illustrates the manner in which government is fudging the numbers to make Obama’s economic performance look better. The chart compares the “unemployement rate” to the “employment rate.” These usually track one another. Why shouldn’t they? But now, see the chart, a miracle has occurred. The unemployment rate has dropped by 2 percentage points — but the lie is revealed by employment rate, which is static. The implication is that things are getting better due to lower unemployment, but a large number of people have simply given up looking for work or being employed.
We see this jiggery-pokery in all kinds of government statistics, especially the inflation numbers, which exclude fuel and food. These report inflation below 2%. Our experience shows us that inflation exceeds 10%.