by Pam Martens and Russ Martens
Wall Street on Parade
On February 3, 2015, Jim Clifton, the Chairman and CEO of the iconic 85-year old polling company, Gallup, penned an article for his company in which he called the reported unemployment number issued by the U.S. Government “The Big Lie.”
Wall Street On Parade has now discovered that a speech by former Fed Chairman Ben Bernanke and a statement made by the current Fed Chairman Jerome (Jay) Powell, support the view that today’s reported unemployment rate of 3.5 percent is statistically impossible based on a long-held economic model known as “Okun’s Law.”
Named after economist Arthur Okun, the economic law works like this according to a speech given by the Fed Chair Ben Bernanke in March 2012: