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The Economy Is A Lie, Too

September 22, 2009

ppjg CORPORATIONS, Fed Reserve & Fiat Currency Bush administration, consumers, debt, economy, Federal Reserve, Information Clearing House, Paul craig Roberts, recession, SEC, US Treasury Leave a comment

By Paul Craig Roberts September 21, 2009 “Information Clearing House“

Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.

The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered its pre-2001 peak.
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