Today’s media continue to push out “fake” news, reinforcing the message the Federal Reserve and the government that the economy is stable, even on the upswing, ignoring the growing evidence that this is simply not the truth. The Fed still floats the idea that they’re going to raise interest rates in the near future – if they truly believed the economy was strengthening, this would be logical. However, the economy isn’t strengthening.
“In fact I believe we’re in the run-up to another recession, if not in the beginning of one,” said Dawn J Bennett of Financial Myth Busting. “Look at the September jobs report, which was disappointing on its own, and gets even worse when you check under the hood. They reported 142,000 jobs added during December, far less than the expected 200,000. When you look closer, though, 28 states lost jobs during September, with total losses in those states at 120,000 with gains at 99,000. With a net job loss for more than half of our states at 21,000, how credible is that overall 142,000 job gain? In addition, the Bureau of Labor Statistics revised July and August numbers down by a total of 59,000 jobs.”
And yet, the economy is “growing.”
However, some bits of true news do slip out directly from analysts and others within the industry. The Wall Street Journal recently published an article that reported quarterly profits and revenues at large American companies are on the decline. Industrial firms are warning of a pullback in spending, from railroads to manufacturers to energy producers, while businesses say they’re facing a protracted slowdown in production, sales and employment that will continue to spill over into next year. Sources such as Reuters are coming out with similar news.
“This just confirms to me that a new crisis is beginning, because we have compromised a return to growth due to debt, as well as probably reached the limits of adjusting any monetary policy to continue to mask the risks that are building up in the US financial system. The “magic bullet” of central bank intervention is illusion. Either through ideologically-driven blindness or incompetence, they’ve just stopped attempting to use solid, fundamental policies to help to create solid and sustainable growth.”
Read more from Dawn J Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-the-war-of-the-words-regarding-global-economy-and-the-fed-638621.htm