Send a Tweet
Most Popular Choices
Share on Facebook 6 Share on Twitter 2 Printer Friendly Page More Sharing
OpEdNews Op Eds   

America's Sham Economic Recovery

By       (Page 3 of 5 pages) Become a premium member to see this article and all articles as one long page.   No comments
Become a Premium Member Would you like to know how many people have read this article? Or how reputable the author is? Simply sign up for a Advocate premium membership and you'll automatically see this data on every article. Plus a lot more, too.
Author 194
Message Stephen Lendman
Become a Fan
  (191 fans)

This piece was reprinted by OpEdNews with permission or license. It may not be reproduced in any form without permission or license from the source.

It also includes discouraged workers who stopped looking in frustration within, but not exceeding, the past 12 months, as well as others looking for full-time work but forced to take part-time or temp jobs they'd otherwise avoid. Uncounted long-term discouraged workers (those giving up after 366 days) put real unemployment at 22.5%.

America's deepening housing depression exacerbates today's jobs crisis. Yet political Washington reports improvement. In fact, conditions are deteriorating, not strengthening. Official data lie. Moreover, promised fixes are fake.

Housing's extremely important. Homes are the average US household's largest asset. Economic recovery's unlikely during a housing downturn. During a depression, it's impossible. During the greatest housing crisis since the 1930s assures protracted hard times for most people.

Home valuations are declining. Housing starts are low. New home sales are at record lows. Inventories of unsold properties remain high. So are monthly foreclosures increasing them.

A shocking 6.17 million families are underwater or facing foreclosure. Instead of relief, policy measures include open-ended bailouts, unprecedented money printing, zero percent interest rates taxing savers, manufacturing phantom jobs, and doing virtually nothing to create real ones.

As a result, around 25 million Americans are unemployed. Most with jobs have poor ones. Poverty's at record levels. So is human need. Instead of addressing crisis conditions, Obama lied about the January BLS report, saying:

"The economy is growing stronger and the recovery is speeding up."

In fact, it's experiencing the hardest times since the Great Depression with no proposed policy measures to address it. Instead, austerity's planned when suffering millions need help, starting with decent jobs and living wages. 

Next Page  1  |  2  |  3  |  4  |  5

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).


News 2   Supported 2   Well Said 1  
Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

VISIT MY WEBSITE: (Home - Stephen Lendman). Contact at  My two Wall Street books are timely reading: "How Wall Street Fleeces America: Privatized Banking, Government (more...)

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

To View Comments or Join the Conversation: