Saturday, April 6, 2013
Illusion of "Economic Recovery"
Government sources and mainstream media tout "economic recovery", citing unemployment to be down from 7.7% in February to 7.6% in March. But some economists say that in real terms it has gone UP to 7.9%.
It depends on how officialdom plays with a certain number - the number of people who have given up looking for work - 496,000 as it stands today. By subtracting it from the labor force, thus lowering the "participation rate", it gives the illusion of lower unemployment, when in fact a half-million able-bodied and keen-minded Americans have sunken into irrelevance and despair, and been summarily and disrespectfully wiped out from the equation.
On the flip side of the coin, the stock market flying high is cited as yet another sign of "economic recovery". This, too, is an illusion, due not to real wealth, but the injection of baseless printed money by the Federal Reserve into Wall Street. Back in 1929, when the then stratospheric stock market began to slump, millionaires injected REAL money into Wall Street and did bring it back up, but once the injection stopped, the market inevitably plummeted into the gut-wrenching 1930s depression.
Considering the economic coin as a whole, rising stocks coupled with real lowering of unemployment is solid. But a bull market sitting on real rising unemployment is nothing but another economic bubble. And there is nary a bubble that never eventually bursts.
Anthony Marr, Founder and President
Heal Our Planet Earth (HOPE)
Global Anti-Hunting Coalition (GAHC)