Kohler: Australian dollar to the moon!

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From Mr Kohler today:

Friday’s employment report in the United States was a dramatic demonstration of how inadequate the old economic indicators have become.

…The truth is that the labour market is slacker than the unemployment rate suggests. Underemployment is 9 per cent, and people are dropping out of the labour market who would take a job if they could get one; in other words the real unemployment rate is far higher than the official one.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.