Our impotent government along with FED has been feeding us with fake job data since 2008. Everybody knows it, but nobody does anything about it.
Where are all those “shovel ready jobs” Obama was feeding the nation during 2012 election? Did he mean shovel ready hamburger flipping at McDonalds?
Our nation is suffering from goofed up recovery. We will pay a dire price for “too big to fail” theory and a fatal Keynesian misunderstanding of economy and beliefs that spending and increasing debt would improve our economy. Since when taking more debt to pay the old debt did ever help you or your family? What, then, makes our politicians to believe it will help the country?
It is a great example showing that our country is led by dilettantes who have never held a job, created a job, or run a company.
As Peter Schiff says, “we didn’t undergo a real recovery, but only postponed the catastrophe”. We just kicked the can further down the street, took away a future from our kids and spent it today on something what will fail anyway. Well, not you or me, but our politicians.
If you think otherwise, then why the job participation is slumping? Why job creation is worse than mediocre? Why we have a hidden inflation (just compare prices of a gallon of milk now versus 3 years ago)? Or why housing prices are drifting lower or stagnating?
In the video above, Jim Rickards is right pointing out, that our job market has different problems and that Janet Yellen is again, like her predecessor, going to use a wrong cure.
Hi Martin,
the problems are the same like in Germany!
Our politicians are stupid.
And then they look even child pornography: Google for SPD and EDATHY
They’re all gone crazy!
Best regards
Michael
Michael, I agree. It is sometimes quite depressive watching those idiots ruining our countries by debt and irresponsible monetary policy just to get reelected.