Skip to comments.Lakshman Achuthan: The US Entered Recession Last Year(Video at Link)
Posted on 07/30/2013 6:39:04 PM PDT by Perdogg
Despite Tom Keene's best efforts to appear fair-and-balanced, this brief interview on Bloomberg TV places ECRI's Lakshman Achuthan in the uncomfortable position of destroying every propagandized 'fact' that the mainstream media is entrusted with disseminating to the Pavlovian investing community. From recessions with job growth ("we believe a US recession began in 2012") to the wealth divide and from GDP revisions to job quality differentials, Achuthan warns the US is becoming Japan, "U.S. growth over the last five years is weaker than Japan during the Lost Decades." Keene's insistence that things are on-the-up (though admitting that Achuthan's call on the decline in growth was correct) is met with the rhetorical question, "you wouldn't have four years of zero-interest rate policy and quantitative easing if everything was okay."
(Excerpt) Read more at zerohedge.com ...
Bloomberg’s bunch of Lefties all wear rose-colored glasses, matched only by the Lefties at CNBC. They never saw the ‘08 collapse coming, and they won’t see the next one coming, because they want to believe that The Worst President Ever isn’t to blame for the worst recovery in the history of the country.
Paul Krugman: “The economy is doing fine. Trust me, I used to work at Enron.”
The situation is as follows. The stock market is a wonderfully embroidered tent of worthless dollars, and beneath is desolation. There are NO jobs being created. In fact, we’re LOSING jobs. The only reason we have any job growth at all is because of people dropping out of the labor force, and the upsurge in part time jobs which is partly seasonal, and partly due to Obamacare’s impact on the job market. We are Japan, but Japan does not have a debt mountain as large as ours.
Factor in that the USA, along with China, are at the center of the global economy. If the USA goes down, other satellite economic forces collapse, and then that sends further devastation our way. Part of the reason our crisis a few years ago was so bad and continues to this day was the implosion of the rotting EU system.
Its only a matter of time. These are Rome’s last day, and Zero is playing his fiddle.
“you wouldn’t have four years of zero-interest rate policy and quantitative easing if everything was okay.”
Says it all!
Recession decades ago, depression in late 2007. I’m glad that the whole process will begin to come to the conclusion in two years, give or take.
Impeachment File on Benghazi Coward B. Hussein Obama, formerly known as Barry Soetoro, currently a Legal Citizen of the Sovereign Nation of Indonesia.
The first sentence is a lulu
When is a recession not a recession?
When it is a plateau.
A plateau is a flat curve that fluctuates very slightly about the time axis
I suppose I am one of those who is said to be wrong. In the short term it would seem the inflation has not yet materialized to the anticipated point.
That doesn’t matter however because the debt continues to grow. So long as there is a $17 trillion debt, there will be inflation in the long term
The clamor for $15 fast food wages is the precursor for general wage inflation in the face of unemployment. When the wage inflation takes hols, the inflation will become general.
More like continued and gained steam...
I'm preparing for this, eventually.