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Government bureaucrats are handing President Obama -- excuse me just the am always looking for an unemployment rate trending lower.
Now hitting eight point 3% last month but a record one point two million Americans dropped out of the labor force in one month.
And the government is reportedly planning and eliminating nearly half the labor pool from the unemployment calculation.
Our government bureaucrats trying to juice the economy to help President Obama get reelected.
Who better to ask on the legendary hedge fund investor the president -- -- capital -- -- and -- reflect it's always a pleasure.
Welcome back to freedom watch.
Thanks for having me -- government warden cooked the books honest.
Bill what it.
You know unfortunately.
The CPI -- calculations are complete farce with the quality -- had done -- substitution.
And on various different measures that they use to.
Keep the CPI -- -- -- conspiracy to keep the CPI down right but -- idea is to make it not appear as.
Bad as it is.
I think the BLS is monkey -- with the employment data.
You know people don't look at there there -- some of the raw data suggests that the real unemployment were rate might be as high as twelve to 15%.
To today's eight point 3% it is probably noises published this statistical stuff.
And to make anything out of one month is really pretty silly but we know that that's what they do in Washington.
If someone asks the reaganesque question.
Whether it's Ron Paul or Mitt Romney or Newt Gingrich and -- and charm or whoever the Republican nominee made me are you better off now than you were four years ago.
It's pretty clear how most Americans would answer that and it would not be each of Barack Obama's liking agree or disagree.
-- I totally agree.
You know -- but I'm having said that -- the problem isn't Obama.
And the problem wasn't George Bush.
The problem was the Fed and the policies it's pursued it created the first bubble and then the second bubble and now this nonsense and zero rates I mean.
Now the Obama administration's that a terrible job of dealing with the hand it was delta and the Bush Administration did nothing to help the situation while there -- there.
But the problems this country faces.
A function of the Fed that's completely out of control.
And why no one wants to look at these bubbles and the consequences and try to understand why they happened is beyond me.
Well are are we going to experience a similar problem in Europe.
With the European central bank and its artificial creation of kitchen doesn't even admit that creates cash but we know what it does.
And is the same thing going to happen there and is that going to result in inflation here because of all of the mutual investments from one side of the pond.
To the other.
They don't have the same unfettered ability to do with the Fed does having said that with these LTR rose in the next -- come come up later in this month.
They've printed a great deal of money and yes and inflation question is absolutely.
If it and as soon as Europe gets -- deflationary scare moment if they print enough money.
Many people are gonna start I think two to worry about stagflation and inflation maybe then finally we can.
We can do something about the Fed even when the news is not good it's always a pleasure to have you talk about it thanks for joining us -- Thanks for having me --