Test Question (Pick One): We are in RECOVERY or in RECESSION or in DEPRESSION

Your Call!

Your Call!

Beauty, they say, is in the eye of the beholder. Do you know whether we are in recovery (Dems) or stuck in recession (GOP)? The White House clearly states that things are getting better; we’re in recovery. Of course, they’ve been in charge for a while now; they have to say that, right? The GOP disagrees, pointing to things like the numbers of folk participating in the workforce. The last time our workers were as few as at present seems to have been about 1980, when the population was a good bit smaller. But the Republicans, being out, have to talk like that, we know.

We’re not here to tell you which lying politician to believe (we tend to doubt them all) so you can decide whether to believe the government propaganda or the government statistics, since they seem not to agree in their message.

I don’t know much and with my doubts re government sources, tend to listen to my wife, who does our shopping. She says living is costing more, especially food and energy (e.g. gasoline).

she also notes that our city and state have just raised their minimum wages. Some seem to fasten on their larger paychecks (with larger withholding) without wondering from whom comes the money to pay these raises. You may select whichever side of that you think correct.

Shadowstats.com is a site reporting the government statistics on unemployment, cost of living etc. using the calculations used in past years, when various ‘adjustments’ had not been introduced into the reporting. Those suspicious of current numbers may be interested; unemployment here runs higher and cost of living, also higher than we get now from Washington. And at least enough users exist to fund the site, so it’s valued by somebody. Again, you decide.

Government unemployment runs just under 8% now; it’s called: ‘U3’ and includes those collecting unemployment benefits. If you ask about unemployed folk not collecting, you can find U6, which last I knew, was a little under double the U3 rate. Using the older methods, Shadowstats thinks real unemployment is closer to 23%. Seems to me, that squares better with the drop in workforce participation that the government reports. But you must make your own decisions, right?

Another metric useful here is U.S. median household income. While inflation has been small, per our governors, not so small, per my wife, whatever; the median household income has been declining according to government reports.  This statistic seems pretty scarce in the media but it’s available at any time from the government, though seldom advertised like some of the preceding. As before, you may evaluate it yourself.

Now, my own, cantankerous and cynical opinion, worth everything it’s costing you:

We remain in an ongoing Great Depression presently camouflaged by Fed funny money pumping (Quantitative Easing in FedSpeak) designed to keep the wolf (slavering outside) from the door until after the 2914 election. The success of this ploy is jeopardized by the E.U.’s inability to hold off its own version of this same disaster. If the E.U. collapses too soon, it will bring down the whole house of cards with it. Hence the sudden decision of the Bank of Japan  after two decades of stinginess, to reflate the Japanese economy. Pathetic! A sign of desperation settling among the financial geniuses who’ve put us where we are.

You may add to that, the recent pacts between Brazill, Australia and China to sneak out of the U.S. dollar with their trade…intelligent critters deserting what they clearly see as a sinking ship. In, of course, my opinion. Yours is up to you!  As it should be, since your future depends upon it…

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much)
Aside | This entry was posted in China, Democrats, Depression, Domestic Policy, E.U., Economics, Europe, Finance, Fiscal/Financial Responsibility, Inflation, Jobs, Overspending, Politics, Recession, Republicans, Trade and tagged , , , , , , . Bookmark the permalink.

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