Peter Schiff Wrong About the Economy, Housing Market, Trump Outright Lies

 Housing Market is not dead because of rates, it's because the 2008 Housing Bubble never recovered, since we are in an outright depression since then.  Real unemployment is over 20%. The peak unemployment in the 1929 Great Depression was 25% in 1933.  In 1934 that level dropped from its peak to 21.7%.  There were approximately 4.5 years of unemployment above 20% in the Great Depression.  After 1935, the unemployment dropped below 20%.

Using the old way to calculate unemployment---the same as in the Great depression, our unemployment as of October 2018, it is 21.2%.  You can look this up at ShadowStats.com under Real Unemployment data.

The unemployment since the 2008 housing crisis, has been over 20% nearly 10 years, which makes this new depression worse than the old one.. The reason you don't see the food lines is because of EBT credit cards for food and other modern measure, but people cannot live on the low wages that they get or live without some form of government assistance..

It doesn't help the matter when Donald Trump tells us the unemployment is under 5% and at record lows.. He has even stated in 2015 that the unemployment figures are fake and using his own method unemployment if over 40%. Since getting in power, he now uses the official statistics.

Instead, Trump and his followers will have you believe, that he fixed the economy.  Obama also went along with the economic falsity of low unemployment and they both have  fixed the economy.  Even though unemployment and low wages are clearly an issue for most Americans, who can't keep up with the cost of living.

---------------------- By Neal Vanderstelt Forex Trader, Market Analyst, Trading System Designer Please rate, recommend, and comment below: