The Bureau of Labor Statistics has reported that the unemployment rate for October was 10.2 percent. The problem with this number according to Jerome Corsi at WorldNetDaily is that the Clinton administration changed the way that the Bureau calculates unemployment statistics. The Bureau excludes those workers that have given up looking for work because there are no jobs available.

According to Corsi if you were to add in these discouraged workers the true unemployment rate would be 22.1 percent. These are unemployment figures not seen since the recession of 1973 to 1975.

What is really frightening about this report are these comments by Economist John Williams and the author of the article John Corsi (the full text of the article can be found here:

“The convenience is that by reporting unemployment at 10.2 percent instead of at 22.1 percent, the Obama administration can clearly continue advancing the argument the U.S. economy is in recovery and the recession is over, even if the truth belies those claims,” Corsi wrote.

Williams concludes that the economy is not recovering, but has been stimulated by excess liquidity placed into the financial system by the Federal Reserve keeping federal-funds rates at the historically low rate of zero, or near zero.

“Understanding that the real level of unemployment in October 2009 was closer to 22 percent than to the officially reported 10 percent is an important corrective,” Corsi wrote, “especially if we are to appreciate the extent to which a Dow at or above the 10,000 benchmark is nothing more than another Fed-created bubble.”

Your Mandarin eagerly awaits all of the new “green” jobs that will be created to alleviate our energy needs and get Americans back to work. Oh, wait, your Mandarin has just learned that the wind turbines will be manufactured in China. Well, get back to …. whatever it is you are doing to pass the time now that you’re not working.

The Mandarin

The Mandarin, whose real name is 吏恆, joined the order in 1309, and introduced the Gormogons into England during the 18th Century.

The Mandarin enjoys spending time with his pet manticore, Βάρἰκος, or Barry (who can be found in the Bestiary). When not in the Castle…well, frankly, nobody is quite sure where he goes.

The Mandarin popularized the fine art of “gut booting,” by which he delivers a powerful kick to the stomach of anyone that annoys him. Although nearly universal today, the act of gut booting or threatening someone or something with a gut boot is solely due to him.