Gov Stats Overly Rosy? Some Say Unemployment Is Actually 20%

07/13/2009 05:12 am ET | Updated May 25, 2011
  • smartmoney.com

Today Williams runs Shadow Government Statistics (ShadowStats.com) from his home. For $175 a year subscribers get economic data and analysis adjusted to back out the accumulated effects of what Williams has dubbed the Pollyanna Creep -- Pollyanna being the orphan protagonist of the 1913 children's book who learns to play the "glad game" to find cheery perspectives on life's sorrows. In other words, he provides figures he feels are properly miserable, to offset government ones he says are too prettied-up.

If Williams is right, unemployment is over 20%, gross domestic product is shrinking by 8% and consumer prices are jumping by nearly 7%.

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