Mass stupidity is the flavor of the month in every one of media mainstays economics section.
Its nuts, insane actually.
The US economy is obviously not “recovering” or “healthy” at all. This is not rocket science, its a very simple situation to read.
Additionally, the latest news of 50,000 bank employees terminated in one month suggests a lot more than is being reported.
Its not just that the American middle class has been systematically eradicated, or that for the first time in history, more businesses fail each day, than open (a horrific fact)
Add to this that that for the first time in history, there are more people on welfare, food stamps and other handouts than working in the private sector. Another staggering first!
Almost 100 million working-age Americans aren’t working, and 40 of Americans earn less than what the minimum wage of 1968 was if it hadn't been dropping deceptively and near 110 million Americans are on some or other form of welfare.
If you add in Medicare, Medicaid and people working for government, more than 165 million Americans — about half the population — are dependant on a government check. Think about it. Its fucking disastrous!
Much of the increase in third quarter GDP was courtesy massive increases healthcare costs due to Obamacare.
Next, unemployment is down right?
Oh no it isn't, How could it be down if the workforce participation rate is the lowest in history? The answer is fraud. The government came up with genius plot to not count the disillusioned people no longer looking for jobs or who don’t want a job (who would rather sit home collecting welfare).
The reality is that unemployment is at Great Depression levels.
Worse, almost every single new job being created crappy, low-wage, part-time jobs or pensioners unable to retire.
The Stock Market:
A rising stock market based on good news and positive economic fundamentals would be great. But a rising stock market based on fake money printing by the Fed, misleading economic stats and massive debt is not so great. Actually, it’s a tragedy. The US stock market is also akin to the subprime mortgage crisis. It’s a debt bubble about to pop.
Its mainly up because Obama has added almost $8 trillion in debt. Fact: DEBT is out of control. Off the charts!
All the housing and vehicle sales were produced by dropping the financing down payments from 25 to 10 and 3 percent. 3 Percent!?? What does that mean? Prepare for record defaults on payments obviously.
Even more than before, it amounts to the world’s largest Ponzi scheme. They've printed trillions in fake dollars to make the stock market go up for the corporate elite and to pay for those near 110 million Americans on welfare and food stamps I mentioned.
This mountain of debt is like a credit card credit line that will soon explode, destroying mid term prospects for their currency or even country.
That will give the rest of the world time to normalize the economic environment but in the States, as an outsider I reckon for their benefit every politician, wall street insider trader and bankster who has supported this direction should be thrown in jail.