Crossing the Rubicon

Do you really believe the official unemployment figure in the US of 8.1%?

Walter (John) Williams over at doesn't believe it either.
So he publishes his own based on the method used in 1980 or so.

So adjusted unemployment rates are somewhere between 15 and 19%! No wonder the Associated Press reports that there were 700 applicants for 1 job as a janitor in Ohio.

It appears that we have Crossed the Rubicon. These are depression level unemployment rates. The economy now faces major restructuring.