All day the political class will talk down to the American public about how they have the drive to cause an economic turn around inside the U.S. and return prosperity. Wielding their statist solutions to every government created distortion in the economy, the rhetoric from Washington dogmatizes an ongoing “recovery” produced by those that call themselves leaders.
“Anyone claiming that America’s economy is in decline is peddling fiction,” President Obama said in his State of the Union address earlier this year.
This week Obama came out and said that his administration has created a “more durable, growing economy” with “15 million new private-sector jobs since early 2010” in an essay in the Economist.
But as most people are aware by now, the government calculated numbers are always twisted in order to create the illusion of economic recovery. Just take the jobs report produced for July, where some 200,000 jobs created were the product of a virtual reality created by a faulty model and the manipulation of seasonal adjustments.
“The gimmicked, headline payroll gain of 255,000 more realistically should have come in below zero, net of built-in upside biases,” John Williams of Shadow Stats said about the July figure.
If there is a recovery, people would have money in their savings, right? Savings is undoubtedly an indicator of wealth.
It turns out that 7 in 10 Americans have less than $1,000 in their savings account.