By Patrick Wood, Editor A few eco­nomic ana­lysts, including this writer, have been protesting that the real unem­ploy­ment rate in the United States is much higher than sta­tis­tics released by the Admin­is­tra­tion. Now, in a candid speech just deliv­ered by the pres­i­dent of the Fed­eral Reserve Bank of Atlanta, a top Fed offi­cial finally tells it like it is:

“If one con­siders the people who would like a job but have stopped looking — so-called dis­cour­aged workers — and those who are working fewer hours than they want, the unem­ploy­ment rate would move from the offi­cial 9.4 per­cent to 16 percent.”

This is 70 per­cent higher Read the full story

By Patrick Wood, Editor One result of the April 2, 2009 G20 meeting in London was the agree­ment to expand the powers of the Finan­cial Sta­bility Forum (FSF) into a new Finan­cial Sta­bility Board (FSB). The FSB is based in Basel, Switzer­land, within the aus­pices of the Read the full story