Writes Bill Sardi:

Lew

Here are the more real economic numbers for economist John Williams at SHADOWSTATS.com

Unemployment is more like 40% (39.6%) instead of the headline news 19.5% (see red diamond in chart below, which reflects a statistical correction made by the Bureau of Labor Standards)

For real unemployment — 2nd chart below shows almost 40%

The whopper is the supply of money, which the fed said before the viral epidemic was caused by the need for overnight funding to banks because of the high demand for loans (balderdash), so the FED corrects the problem with even more electronic money(??).  ARE WE HEADED FOR 20%}.3 is the highest-ever reading for the series, by about five percentage points, except for the “corrected” number, which would be the highest ever by about ten percentage points. This is not a minor error. If I were the head of the BLS, not only would I find a way of correcting the meaningfully bad headline numbers, but also make sure that current surveying techniques were fully understood by the people in the field, before next week’s surveying of May unemployment begins. A headline or “corrected” May 2020 unemployment rate of about 30% lies in the balance.

Since the BLS continues to publish its understated unemployment rates as the headline data,

Ever-Surging Money Supply Growth Promises Inflation