America's Sick Economy - by Stephen Lendman
Mainstream America is in a protracted depression.
Sooner or later the usual pundits and "experts" showing up on tout TV will buckle and admit what honest analysts have been saying all along:
America's economy is sick and getting sicker. Since 2008, working households have struggled through the early stages of a protracted global depression, getting worse.
While corporate profits recovered, workers experienced growing poverty, homelessness, hunger, and high unemployment.
At the same time, barely more than crumbs were offered for help. Now ended, austerity cuts are coming, not vitally needed stimulus, including an effective job creation program. More on that below.
In times of trouble, alcohol consumption increases. In fact, Bloomberg News said it's soaring. So are lottery ticket sales, according to USA Today and firearms purchases at a time more people either feel scared or very uneasy.
The latest consumer confidence survey shows why. The Economist called it "dreadful with the headline figure falling to a two-year low." It's similar to a late August EU measure, showing sentiment "experiencing its biggest fall since December 2008."