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The Dwindling US Economy
The Dwindling US Economy The announcement today (April 29) of a barely positive GDP first quarter 2015 growth rate of 0.2 percent (two-tenths of one percent) is an intentional exaggeration. Today’s GDP report is the “advance estimate.” There will be two revisions, with the first occurring in one month on May 29. Although the “consensus […]
TRUTH – THE CURE FOR COGNITIVE DISSONANCE
TRUTH – THE CURE FOR COGNITIVE DISSONANCE “In a time of deceit telling the truth is a revolutionary act.” ― George Orwell Every time the BLS puts out their monthly propaganda report on the wonderful state of the U.S. jobs market and states with a straight face the unemployment rate is a measly 5.5%, their corporate mouthpieces […]
One Last Look At The Real Economy Before It Implodes – Part 4
One Last Look At The Real Economy Before It Implodes – Part 4 In the first three installments of this series, we examined the realities behind supply and demand, unemployment and personal debt, and national debt. As has been proven in each consecutive article with ample evidence, mainstream establishment numbers are, for the most part, […]
An Insider’s Take: How the Fed Ruined the Economy
An Insider’s Take: How the Fed Ruined the Economy Let’s start this off with a quote by Ben Bernanke to get your blood boiling: When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was […]
The Inevitable Failure of Mechanistic Monetary Policy
The Inevitable Failure of Mechanistic Monetary Policy Our current faith in central banks’ ability to “make the economy all better, all the time” is horrendously misplaced. We are living in the Cargo Cult Era of Central Bankers. The era began in earnest on December 5, 1996, when Federal Reserve chairman Alan Greenspan cautiously wondered aloud if […]
The Growth Delusion
The Growth Delusion It’s time to stop believing in GDP. Here’s why By Dirk Philipsen There is an idea that wields power unlike any other. Faith in it is truly global: crossing national and ideological barriers and defining the logic of every major economy in the world today. That idea is economic growth. The faith […]
The Web: Destroyer or Savior of Culture, Pay and Employment?
The Web: Destroyer or Savior of Culture, Pay and Employment? The cost of creating and distributing content has fallen to near-zero, and that is not going away. Last month I explored the contentious question, Is the Web Destroying the Cultural Economy? In my recent video discussion with analyst Gordon T. Long, we expanded this question to pay […]
Economy Finally Reaches “Escape Velocity,” Heads South
Economy Finally Reaches “Escape Velocity,” Heads South It’s hard to measure the growth rate of a vast, complex economy with just one number, accurately, and on a timely basis. The Chinese found an ingenious solution. They decree the growth rate and announce it in advance, and that’s about what the number says when it comes out. It’s faster […]
One Last Look At The Real Economy Before It Implodes – Part 2
One Last Look At The Real Economy Before It Implodes – Part 2 Consumer spending in the U.S. accounts for approximately 70 percent of gross domestic product, though it is important to note that the manner in which “official” GDP is calculated is highly inaccurate. For example, all government money used within the Medicare coverage […]
Role of Wages of the Common Worker in Oil Prices, Collapse
Role of Wages of the Common Worker in Oil Prices, Collapse In their book Secular Cycles, Peter Turchin and Surgey Nefedof point out the important role falling wages of the common workers played in early collapses. I got to thinking that this might be an issue with our current situation as well, including the low level […]
14 Signs That Most Americans Are Flat Broke And Totally Unprepared For The Coming Economic Crisis
14 Signs That Most Americans Are Flat Broke And Totally Unprepared For The Coming Economic Crisis When the coming economic crisis strikes, more than half the country is going to be financially wiped out within weeks. At this point, more than 60 percent of all Americans are living paycheck to paycheck, and a whopping 24 […]
Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931
Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931 For all the debt crises, hyperinflation and boom-and-bust cycles Brazil’s economy has suffered in recent decades, the country hasn’t posted two consecutive years of contraction since the Great Depression. But if 2014’s fourth quarter was as bad as many economists think and their expectations for […]
Whatever Became of Economists and the American economy
Whatever Became of Economists and the American economy According to the official economic fairy tale, the US economy has been in recovery since June 2009. This fairy tale supports America’s image as the safe haven, an image that keeps the dollar up, the stock market up, and interest rates down. It is an image that […]
The Degrowth Alternative
The Degrowth Alternative Both the name and the theory of degrowth aim explicitly to repoliticize environmentalism. Sustainable development and its more recent reincarnation “green growth” depoliticize genuine political antagonisms between alternative visions for the future. They render environmental problems technical, promising win-win solutions and the impossible goal of perpetuating economic growth without harming the environment. […]
West Coast Ports Shut Down For Holiday Weekend: Supply Chain Halt Threatens Havoc On Reeling Economy
West Coast Ports Shut Down For Holiday Weekend: Supply Chain Halt Threatens Havoc On Reeling Economy A week ago, when we wrote “Catastrophic Shutdown Of America’s Supply Chain Looms” As West Coast Port Worker Talks Break Down“, few people noticed… as was to be expected: after all with January’s retails sales just around the corner, […]
