tagged w/ Economics
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On the ecological plane of species survival by species contribution to the natural life host, on the social justice plane of right-obligation due to provide for a human life for each, and on the economic plane of productive efficiency and non-waste, it is catastrophically deranged in objective fact, and must be re-ordered to life coherence. The problem has been that a pervasive system of misrepresentation – propaganda or public relations - has been fatally successful in blocking human recognition of the disorder. It is instructive in this condition to consider the world of life itself as in a global war in which the enemy has not yet been recognised. http://globalresearch.ca/index.php?context=va&aid=29784On the ecological plane of species survival by species contribution to the natural... more
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Greg Smith, an executive director at Goldman Sachs, announced his resignation Wednesday in an op-ed piece public in the New York Times, denouncing the bank's “toxic” culture of avarice and fraud. http://www.wsws.org/articles/2012/mar2012/pers-m15.shtmlGreg Smith, an executive director at Goldman Sachs, announced his resignation... more
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It seems every chance the mainstream media (MSM) gets, it tells us things really aren’t that bad. For example, the headline from the Associated Press (AP) said, “Consumer prices on the rise, but inflation outlook is benign.” Who approves the headlines at the AP? Prices are rising, but there is no inflation? Aren’t rising prices the main ingredient of inflation? http://usawatchdog.com/inflation-everywhere-but-msm-says-not/It seems every chance the mainstream media (MSM) gets, it tells us things really... more
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In a speech before Parliament last month, British Prime Minister David Cameron posed a rhetorical question as he harangued the opposition Labour Party: “Is there a single other mainstream party anywhere in Europe who thinks the answer to the debt problem is more spending and more borrowing?”
Cameron was meaning to taunt Europe’s Social Democratic parties, rubbing in the fact that they lack the power to implement the types of programs they’d prefer. But insults aside, it’s clearly not true that Keynesianism has fled the scene amidst the ongoing European financial crisis—it’s just that its greatest champion is based in Washington DC, at the International Monetary Fund. On multiple occasions over the past two years, it forced Europe into taking action, strong-arming Germany into designing bailouts. The IMF has made plenty of enemies, especially in Frankfurt, but it has also managed to help, for now, to forestall catastrophe.
If the IMF seems an unlikely voice for more spending and larger bailouts in Europe, it’s with good reason: The Fund has justly earned a reputation in recent years as a standard bearer of austerity, a fiscal physician primarily interested in leveraging Western power to prescribe budget discipline to emerging economies. But rather than a betrayal of its mandate, the IMF’s current full-throated advocacy for Keynesianism in the developed world is actually a return to its origins.
Indeed, when John Maynard Keynes and Harry Dexter White met at Bretton Woods, New Hampshire in 1944 to design postwar economic institutions, including the IMF, European debt was the major global issue. The planners already knew that the European economies would owe massive debts to the U.S. after the war. And Keynes, the author of a book about Germany’s post-World War I economy, was very aware of the dangers of a festering debt. As a result, Keynes and White designed the Fund to lend extensively to Europe. Between 1944 and 1977, most advanced economies—including France, Italy, the United Kingdom, Denmark, Canada, even Japan—availed themselves of IMF resources.
In its early years, the Fund fully embraced the Keynesian economic worldview. A document from the U.S. Treasury Department in 1944— “Questions and Answers on the International Monetary Fund”—put this in especially stark relief: “Attaining and maintaining a high level of employment and real income…must be the primary objective of economic policy.” It’s a passage that could have been taken directly from Keynes’s General Theory.
This was a far cry from the austerity-minded “Washington Consensus” that the Fund was almost uniformly peddling by 1990. There are two chief reasons for that drastic shift away from Keynesianism. First, in the late 70s, the laissez-faire Chicago School took the U.S. economics profession by storm: Keynesians were not only displaced at universities, but also in the halls of the IMF. Secondly, financial globalization freed the rich economies from the need for IMF money. All of a sudden, emerging economies were the IMF’s chief debtors, and the West was less inclined to be generous.
As the Fund slid from Keynesian flexibility to Chicago orthodoxy, major crises hit Latin America in the 1980’s, Mexico again in 1994 and 95, the Asian Tigers in 1997, and Russia, Brazil, Argentina, and Turkey over the succeeding five years. Jacob Kirkegaard, a senior researcher at the Peterson Institute, tells me that the Chicago School “was the right idea at the right time. The crises that hit the global economy in the 1980’s really were fiscal in nature.” In 1982, Mexico did need to cut spending. But the IMF grew too attached to one particular brand of medicine: Budget austerity became such a by-word that the IMF earned the sobriquet It’s Mostly Fiscal. “No matter what the situation,” Kirkegaard says, “the IMF said the same thing: ‘Cut the budget.’” As a result, IMF bailouts earned a stigma throughout much of the world.
According to Jack Boorman, a former special adviser to the IMF managing director, 2003 to 2007 were low years at the fund. “The Asian crises especially generated a great deal of hostility. A sense of drift set in, both within and outside of the institution.” At a speech in New Delhi in 2006, Sir Mervyn King, governor of the Bank of England, suggested that the IMF scale down its lending operations and concentrate on supervision. “That kind of thinking led to downsizing,” Boorman says. “But you don’t close the firehouse just because there’s no fire!”
Two events in recent years put the IMF back on the Keynesian track: The 2008 financial meltdown, and the arrival of a new fund director, Dominique Strauss-Kahn. Under Strauss-Kahn’s leadership, the IMF grew into a bulwark against German caution and orthodoxy. “DSK really did change things,” Boorman tells me. “He is a brilliantly gifted politician and a very good economist. That allowed him to insert himself into the G20 process in November 2008. He seized the moment in a brilliant fashion. Any decisions that were going to be taken, the IMF was moved right into the center of them.” Some of Europe’s orthodox leaders argued for austerity. But, according to Kirkegaard, “the IMF got countries to put their feet on the Keynesian pedal.”
(more at link)In a speech before Parliament last month, British Prime Minister David Cameron posed a... more
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It would seem that an all out war has begun against humanity by the Ruling Elite and their minions. What I see starting to happen is a complete breakdown in between the Rulers and the Ruled. To challenge authority or rather point out to them that they have no authority is something that they cannot get around... Look at the monetary system and all that work they did in setting it up so you could have commerce, don’t you appreciate it, and don’t you just love them all for it and admire them. http://freedomfiles.org/Are_the_Gloves_Off.pdfIt would seem that an all out war has begun against humanity by the Ruling Elite and... more
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Economists build models by subtracting from reality the characteristics they deem unessential to the economic situations they model. The result is a bare bones description consisting of what economists deem economically essential. Everything that is discarded (not taken into consideration in the model) is called an "externality." ...Since externalities are excluded from all economic models and can be expected to change after any model is implemented, all economic models necessarily fail. Economists are frauds and economics amounts to nothing but an apologetics of greed. http://www.globalresearch.ca/index.php?context=va&aid=29270Economists build models by subtracting from reality the characteristics they deem... more
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By Chris Lehmann
Chris Lehmann is the author of Rich People Things (Haymarket, 2011), the editor of the Yahoo! News blogs, and an editor of Bookforum.
As the American media has copiously noted, the next year or so promises to be a breakout moment in the mainstreaming of the Mormon faith. There are already two Mormon contenders for the G.O.P. presidential nomination: former Massachusetts governor Mitt Romney and former Utah governor and diplomat Jon Huntsman. There’s the Tony-winning Broadway comedy The Book of Mormon, which has proved a runaway critical and commercial success. (Serving as recognizable fodder for parody certainly marks a cultural coming-of-age, and for the most part, Mormon leaders have taken the send-up in confident stride.) There are high-profile offerings from Mormon sources that bear no explicit spiritual agenda but abound with Mormon-friendly themes, such as Stephenie Meyer’s hugely successful Twilight franchise of teen vampire novels. And thanks to the heroic promotional efforts of the country’s best-known Mormon convert, Glenn Beck, the work of a previously obscure Mormon polemicist and historian, W. Cleon Skousen, has attained both bestseller status and pride of place in the Tea Party movement. But for all the attention now lavished on how Mormonism fits in with the American experience, remarkably little is known about a key feature of Mormon belief: the organization of economic life. The omission is puzzling. Romney, after all, has staked his claim to the presidency largely on the basis of his business acumen. Amid a crippling recession, the former CEO of Bain Capital, with an estimated net worth of more than $200 million, presents himself as the assured corporate manager who can briskly lift America out of its long slough of despond. Surely, the conventional wisdom goes, Romney’s fiscal finesse should put him in the White House—and close the gap between Mormons and mainstream evangelicals, who have long regarded the Church of Jesus Christ of Latter-day Saints as a preserve of dangerous cultists.
In fact, the business side of Mormonism is a curious agent for the faith’s deliverance into the mainstream. It entails an ethos of accumulation that makes the so-called prosperity gospel seem listless by comparison. “Mormonism is the Protestant ethic on steroids,” argues Mark Skousen, a cheerfully libertarian professor of economics who holds the Benjamin Franklin Chair of Management at Grantham University, and who happens to be Cleon Skousen’s nephew. He describes what he calls an “Old Testament prosperity principle” in the Book of Mormon, “a kind of Abraham covenant: If you live a righteous life, God will bless you. Over and over, you read about this cycle of prosperity—a business cycle, if you will.”
Indeed, Skousen’s faith has been key to shaping his own anti-Keynesian outlook. “One of the reasons I rejected Keynesian economics and Paul Samuelson’s textbook,” he recalls, “is that I immediately felt they were contrary to church doctrine. The whole ‘paradox of thrift’ idea, [which held that] debt is okay—that made no sense to me from a traditional Mormon point of view.”
He is far from alone. Thanks in large part to the remarkable history of the church’s founding, today’s Mormons are model free-market apostles. They have a firm, strident (and historically well-founded) distrust of debt and government; they tend to fetishize precious metals and land assets over the fluid and unreliable fiat currencies that vie for dominance in global exchanges; they maintain a robust system of tithing and church voluntarism and a corresponding disdain for motivation-sapping entitlements and the welfare state; and by long-standing tradition, the heads of all Mormon households must carefully lay in a store of material provisions for the end times or other emergencies.
more at link: http://www.harpers.org/archive/2011/10/0083637By Chris Lehmann
Chris Lehmann is the author of Rich People Things (Haymarket,... more
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You seem to be ones who would support efforts to get free energy "out in the open." And so I write You in the hopes that You can help in My effort to do so. If this is of interest, please pass the word along!
A petition has been started on Change.org for the US Government to release electrogravitics to the public.
http://www.change.org/petitions/us-military-release-the-technology-of-electrogravitics
Why This Is Important
My early childhood was defined by My father's excitement for His work in electrogravitics, then (1950's) being worked on openly by all major aerospace companies. My father, a CalTech graduate and one of the top electrical engineers at one of these companies, would tell Me about the successes of His experiments (gravity control and overunity (free energy)), and tell Me what the world I would grow up in would look like.
Cars would fly, cities would float, and We would have all the energy We could use.
Then, one night He came home from work late and woke Me up to tell Me We couldn't talk about the flying cars, the floating cities, the free energy anymore. "They want it secret for now."
Since My childhood, I have studied economics, coming to the conclusion (later confirmed by Jeremy Rifkin in His book, Entropy) that all money represented was meaningful energy expended. One can grasp this most easily by considering the first hunter, fisherperson, gatherer, farmer, miner. The stuff They gained/used was free: critters, fish, fruits, vegetables, nuts, seed, sun, soil, rain, ores. It was the meaningful energy expended that gave "value" to the stuff: the killing, fishing, picking, tilling, weeding, harvesting, mining, transporting.
Add abundantly what money represents - energy - and the need for money (and the control of others it affords) in all its forms (barter, trade, work exchange, coin, bills, electronic funds...) will dissipate and what is left is free.
Add robots to do all the necessary jobs no One wants to do to free energy, and Humans will be freed to follow Their bliss - within the three Laws:
Do not willfully hurt or kill another Being
Do not willfully take or damage another Being's property
Do not willfully defraud another Being
(A Being (cap the "B") is sentient, sapient; animals are beings)
Waste would be virtually eliminated: supermarkets presently throw out hundreds of thousands of tons of food a month! Distributing by need and not profit will end this waste. Products would be made to last instead of being designed to break so as to ensure future sales. Theft-protecting packaging would be unnecessary. And so on.
Organic farming would be prized and GMO (genetically modified organisms) would be eliminated.
Motive for war will be virtually eliminated. With no profit motive for war suppliers and "infrastructure rebuilders," wars will not be instigated to ensure profits.
Poverty will not exist.
Hunger will be eliminated.
Education (at all levels) will be free for all.
Replace the work "ethic" (a slave's ethic: enrich the rich with Your Human energy) with a Betterment Ethic and the Humans who better things will be paid in appreciation, status, name-recognition and Self-satisfaction, the new "coin."
Create a central website where problems can be brought up locally and People can “vote” to bump a problem up, down, show apathy by not voting, and chime in with solutions (which can be cheered and booed). Issues will drop off after the original poster indicates that the problem has been resolved or withdrawn, or there has been no activity after, say, six months (that is not set in stone). Social responsibility will be defined as spending 15 minutes a day examining issues on this site.
Also, issues with some set number of bumps up will be considered issues that need a wider awareness and go to regional sections. From there, continental, perhaps, and then global, as more are needed to be involved in solving the problem. Problems will beget the awareness to solve them.
Without money as a motive, problems will be solved more creatively, directly, harmoniously, and within the three Laws.
Leaders of the moment will emerge from this to solve problems as they arise.
Open-source all public works programming. This allows for many to make suggestions for betterment, and ensures that no one will create outside the three Laws. It also eliminates “back doors,” and other surreptitious software segments that bog down the clean functioning of the program. Without money as a motive, programmers will be proud to offer Their work for scrutinization and use, openly and freely. Status will be gained for creating the best programs.
Though this will not create a utopia, it will be vastly better than what We now have, in this scarcity-defined system, on this planet.
______________________
I have found many who have said They would sign, but They fear being "put on a list." This is the very thing the power elite count on. I say... Cast away fear! Stand and be counted as One who would oppose Them. In the long run, We will overcome - IF We stop allowing fear to be used as Their weapon against Us!
So... To any who read this, ask Yourself, "Will I empower the power elite to control Me with fear?" And then give strong consideration to signing this petition.
Twitter: @AmaterasuSolar http://amaterasu101.tumblr.com/You seem to be ones who would support efforts to get free energy "out in the... more
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Could gaining control of the Central Bank of the Islamic Republic of Iran (CBI) be one of the main reasons that Iran is being targeted by Western and Israeli powers? As tensions are building up for an unthinkable war with Iran, it is worth exploring Iran’s banking system compared to its U.S., British and Israeli counterparts.
Some researchers are pointing out that Iran is one of only three countries left in the world whose central bank is not under Rothschild control. Before 9-11 there were reportedly seven: Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea, and Iran. By 2003, however, Afghanistan and Iraq were swallowed up by the Rothschild octopus, and by 2011 Sudan and Libya were also gone. In Libya, a Rothschild bank was established in Benghazi while the country was still at war.
Islam forbids the charging of usury, the practice of charging excessive, unreasonably high, and often illegal interestrates on loans,and that is a major problem for the Rothschild banking system. Until a few hundred years ago usury was also forbidden in the Christian world and was even punishable by death. It was considered exploitation and enslavement.
Since the Rothschilds took over the Bank of England around 1815, they have been expanding their banking control over all the countries of the world. Their method has been to get a country’s corrupt politicians to accept massive loans, which they can never repay, and thus go into debt to the Rothschild banking powers. If a leader refuses to accept the loan, he is oftentimes either ousted or assassinated. And if that fails, invasions can follow, and a Rothschild usury-based bank is established.
The Rothschilds exert powerful influence over the world’s major news agencies. By repetition, the masses are duped into believing horror stories about evil villains. The Rothschilds control the Bank of England, the Federal Reserve, the European Central Bank, the IMF, the World Bank and the Bank of International Settlements. Also they own most of the gold in the world as well as the London Gold Exchange, which sets the price of gold every day. It is said the family owns over half the wealth of the planet—estimated by Credit Suisse to be $231 trillion—and is controlled by Evelyn Rothschild, the current head of the family.
Objective researchers contend that Iran is not being demonized because they are a nuclear threat, just as the Taliban, Iraq’s Saddam Hussein and Libya’s Muammar Qadaffi were not a threat.
What then is the real reason? Is it the trillions to be made in oil profits, or the trillions in war profits? Is it to bankrupt the U.S. economy, or is it to start World War III? Is it to destroy Israel’s enemies, or to destroy the Iranian central bank so that no one is left to defy Rothschild’s money racket?
It might be any one of those reasons or, worse—it might be all of them.
Pete Papaherakles
American Free Press
February 13, 2012
The Federal Reserve, the private central bank that issues "American" dollars is a Rothschild bank, so how are we supposed to be a free country, when a bunch of inbred bankster scum have been robbing us blind and stealing our rights since 1913.Could gaining control of the Central Bank of the Islamic Republic of Iran (CBI) be one... more
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Greek Citizens are rioting in the streets, burning cars and buildings, as they react with revulsion to the austerity measures demanded by the EU and passed by their own Parliament. Fire bombs and tear gas fill the streets as Greeks are being sold into virtual indentured servitude to the French and German Banks in order to protect these banks from the consequences of their reckless lending practices. Punishing budget measures that are all the more offensive, in that most observers expect that the Greeks will, in the end, have to default on their debt at some point anyway.
And behind it all are the same Wall Street Banksters that brought us the housing bubble and subsequent financial crisis here in the US. It was Goldman Sachs who was responsible for developing and marketing the "innovative financial products and solutions" that allowed the Greek debt problem to reach the proportions it has today. See these stories from Forbes, the NYTimes and Germany's "Der Spiegel".
http://www.forbes.com/sites/streettalk/2010/02/18/goldman-sachs-shorted-greek-debt-after-it-arranged-those-shady-swaps/
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
http://www.spiegel.de/international/europe/0,1518,676634,00.html
Further, although the markets are not transparent, Wall Street Banks are almost certainly exposed in a big way to European Sovereign Debt through Credit Default Swaps and other derivatives. That is why it was seen as so important that Greek Debt be restructured in a "voluntary" fashion so as not to create an "event of default". The issuers of CDS's likely don't have the capacity to pay in the event of a default and consequently would fail. (Why this situation is allowed to persist is a whole other conversation.) While their counter parties holding the CDS's could be similarly ruined, since the insurance they were (ostensilby) counting on to hedge their own exposure would be deemed worthless.
Yes, make no mistake, this is NOT a Greek bailout. This is another back door Bank Bailout. Another Wall Street bailout. When are we going to wake up? I think that I just heard the alarm clock go off in Greece.Greek Citizens are rioting in the streets, burning cars and buildings, as they react... more
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In the United States today, unemployment among those age 18 to age 34 is at epidemic levels and the number of young adults that are now living at home with Mom and Dad is at an all-time high. So why are so many of our young adults jobless? Why are record numbers of them unable or unwilling to move out on their own? Well, there are quite a few factors at work. Number one, our education system has completely and totally failed them. As I have written about previously, our education system is a joke and most high school graduates these days are simply not prepared to function at even a very basic level in our society. In addition, college education in the United States has become a giant money making scam that leaves scores of college graduates absolutely drowning in debt. Many young adults end up moving back in with Mom and Dad because they are drowning in so much debt that there are no other options. Thirdly, the number of good jobs continues to decline and this is hitting younger Americans the hardest. Millions of young people enter the workforce excited about the future only to find that there are hordes of applicants for the very limited number of decent jobs that are actually available. So all of this is creating an environment where more young adults are financially dependent on their parents that ever before in modern American history.In the United States today, unemployment among those age 18 to age 34 is at epidemic... more
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Do you want to see what a 21st century economic depression looks like? Just look at Greece. Once upon a time, the Greek economy was thriving, the Greek government was borrowing money like there was no tomorrow and Greek citizens were thoroughly enjoying the bubble of false prosperity that all that debt created. Those that warned that Greece was headed for a financial collapse were laughed at and were called "doom and gloomers". Well, nobody is laughing now. You see, the truth is that debt is a very cruel master. Greeks were able to live way beyond their means for many, many years but eventually a day of reckoning arrived. At this point, the Greek economy has been in a recession for five years in a row, and the economic crisis in that country is rapidly getting even worse. It was just recently announced that the overall rate of unemployment in Greece has soared above 20 percent and the youth unemployment rate has risen to an astounding 48 percent. One out of every five retail stores has been shut down and parents are literally abandoning children in the streets. The frightening thing is that this is just the beginning. Things are going to get a lot worse in Greece. And in case you haven't been paying attention, these kinds of conditions are coming to the United States as well. We are heading down the exact same road as Greece went down, and the economic pain that this country is eventually going to suffer is going to be beyond anything that most Americans would dare to imagine.Do you want to see what a 21st century economic depression looks like? Just look at... more
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While this strategy of indirect vote buying has worked well for politicians on both sides of the aisle for many decades, and has been instrumental in ushering in an era of centrally planned economies and expansion of government influence on the individual lives of American citizens, it is as Bill Whittle suggests, an unsustainable system that will ultimately fail. http://www.shtfplan.com/headline-news/the-collapse-of-america-in-raw-numbers-video_02092012While this strategy of indirect vote buying has worked well for politicians on both... more
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When most people think about America's debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all.When most people think about America's debt problem, they think of the debt of... more
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What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. During this election year, the economy is the number one issue that voters are concerned about. But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve. The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did. If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve.What would happen if the Federal Reserve was shut down permanently? That is a... more
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Today, the number of American adults that can't take care of themselves is at an all-time record high. So what are we going to do if the number of people dependent on the government keeps going up? Some folks like to point out that most Americans that have recently become dependent on the government would rather be working, but because of a lack of jobs they have gotten into a position where they cannot take care of themselves anymore. Some other folks like to point out that the number of Americans that abuse the system and that enjoy being dependent on the government is steadily increasing. Sadly, both of those positions are true. It is a fact that the percentage of working age Americans that actually have jobs has declined dramatically over the past several years because of a lack of jobs. It is also a fact that a growing percentage of Americans believe that it is the job of the government to take care of them from the cradle to the grave. What people need to understand is that the government is the problem and not the solution. We desperately need more jobs in this country, but the federal government has been absolutely killing job growth, it has been creating a culture of government dependency, and it has been going into gigantic amounts of debt trying to take care of so many people. So what are we going to do if the number of American adults that can't take care of themselves continues to set new records year after year?Today, the number of American adults that can't take care of themselves is at an... more
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There is no avoiding the final collapse of a boom created solely by credit expansion. Those in power will never voluntarily relinquish their grand game of pillaging the wealth of the nation, so economic collapse will be the ultimate result. They will continue to use propaganda, printing presses, and half-truths to further their agenda. But those who examine the facts will come to a logical conclusion that we are being sold a great lie. http://www.washingtonsblog.com/2012/02/illusion-of-recovery-feelings-versus-facts.htmlThere is no avoiding the final collapse of a boom created solely by credit expansion.... more
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If you have any money and you want to understand the lies that “your” government tells you with statistics, subscribe to John Williams shadowstats.com... Here is the chart of real average weekly earnings deflated by the US government’s own measure of inflation, which as I pointed out in my recent column, Economics Lesson 1, understates true inflation. http://www.paulcraigroberts.org/2012/02/02/the-real-economic-picture/If you have any money and you want to understand the lies that “your”... more
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