Some facts about the economy you won't find on the nightly news
"Facts do not cease to exist because they are ignored." – Aldous Huxley
I woke up this past Saturday morning and opened my local paper to find out that all was well. An Associated Press article declared a healthy jobs market, fantastic auto sales, a surging housing market, and a stock market rocketing to new all-time highs.
What’s not to love? If the mainstream media says the economy is as good as new, it must be so. Why should we let facts get in the way of a good storyline? The stock market has surged to 2007 highs, so the country’s employment situation must be strong.
The chart [below] tells a slightly different story.
The S&P 500 has regained almost all its losses since October 2007, as Bernanke and Washington politicians chose to save Wall Street and screw over Main Street.
The working age population has risen by 12.8 million since 2007 and there are 4 million less Americans employed. The December Household Survey from the BLS being touted by the mainstream media as proof of a jobs recovery told a slightly different story...