The difference between a recession and a depression is: When your neighbor loses their job it’s a recession. When you lose your job it’s a depression.
Washington and the Fed have grown so accustomed to lying when it comes to the state of our economy that covering lies with more lies makes perfect sense to them. One may live in a land of illusion for so long that they actually believe it’s reality.
The real reality is the recession never ended in the U.S. and factual numbers prove this to be an accurate statement. Over the past eighteen months seventy-two percent of the jobs added in the U.S. have been low wage and part-time. Our new norm is temp agencies are now doing most of the hiring as industry scrambles to cut back just to survive. Over fifty percent of those Americans fortunate enough to be working are making less than $27,000 per year. Fifty percent of U.S. households receive direct income from Washingon which by the way steals this income from those of us who are working through taxation.
According the BLS approximately 95 million Americans are either under employed, or not employed at all. In nineteen million households neither mom or dad has a job. A jobless recovery is no recovery.
Rising inflation is evident in food and energy costs but the Fed maintains the story that inflation is running around 2 percent. The Fed has continually changed the way it measures inflation to hide real numbers. In 1973 the Fed asked its economist to remove food and energy costs from the CPI. The claim was food and energy costs were too volatile and shouldn’t be used in determining real numbers. While this statement is clearly ludicrous, it did help the Fed by creating the appearance that everything was fine. If inflation was still being calculated the way it was in 1973 the CPI would actually show inflation running near ten percent.
Last week the government came out with revised GDP numbers that showed the economy actually contracted by 2.9 percent in the first quarter. None the less Washington and the Fed continue to ask us not to believe what we are seeing and continue with the line that things are improving. It would be more accurately stated that the economy is moving forward, closer to the cliff. Government economist are still espousing, “it’s all the weather’s fault.
In the real world where fraudulent charts have no bearing the U.S. has entered into an era of stagflation. High inflation, high unemployment and slow to no economic growth are the norm whether we choose to believe the truth or not. The only answer Washington continues to offer is borrowing more money and blaming the wealthy for having more than their share. It would be wise if most politicians remembered that they too fall into that wealthy category.
Household incomes have fallen for five continuous years and those entrusted with authority will do everything in their power to make sure the trend doesn’t change. The elitists want nothing more than to destroy the working class backbone of this nation and have everyone begging them for their next meal. Remember, half of America is already there.
Our duty is to hold elected officials accountable and to remove those traitorous individuals who are offering continued bondage. As we stumble further into the corner of total loss and if it’s not too late, maybe the American working class will come out fighting mad. There is also the hope that we may see individuals rising up at state levels to give Washington its walking papers. If we choose to do nothing we will surely hand the chains of slavery to the next generation.
Our Founding Fathers gave their all that we would have the opportunity to live in a free nation where everyone could have an equal chance. To allow that gift to be taken simply by the stroke of Washington’s pen is shameful and inexcusable on our part. I ask you what are you going to do to pass on freedoms mantle?
I will end by quoting Winston Churchill: “If you will not fight when you can easily win without bloodshed; if you will not fight when your victory will be sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a small chance of survival. There may even be a worse case; you may have to fight when there is no hope of victory, because it is better to perish than to live as slaves”.
Gold Goliath is not your typical gold dealer.