Unemployment and inflation rates are worse than the numbers that hit the newswires suggest because the government is able to tinker with the methodology to sugarcoat how bad the economy really is, says international investor Jim Rogers.
“The government lies about the numbers that they put out. Don’t take your advice from any government, or you are going to go bankrupt,” Rogers told Newsmax.TV in an exclusive interview when asked if unemployment rates will ever return to pre-recession levels.
The official unemployment rate fell to 8.6 percent in November from 9.0 percent in October not due to strong gains in hiring by due to a shrinking labor force, as would-be job seekers quit looking for permanent work, the government reports.
Even so, the figure is probably much higher, Rogers adds.
