Convenient Truths

Posted | 11/07/2013 / Views | 1471
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We mentioned the other day about the real US employment figures.  Whilst the headline spoke of 7.6% unemployment, the Government’s own U6 (more realistic) figures were double that and the REAL figure more like 23%.

Likewise we’ve raised the real deficit before and it’s more like $6.6T in 2012 and not the reported (and still amazing) $1.1T, when included unfunded liabilities.  The interesting test will be whether QE tapering would occur in real figures or not.