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Economic Recovery? What Recovery?

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Economic Recovery? What Recovery?


Reported recovery is an illusion. There is none.

by Stephen Lendman

Reporting it doesn't make it so. In fact, it's more illusion than fact, but that doesn't surprise half of US households impoverished or bordering on it, according to recent US Census data.

Nor are independent analysts and economists fooled. Last summer, economist Richard Wolff called "so-called economic 'recovery' since mid-2009....chiefly hype, a veneer of good news (benefitting corporations and elitists) to disguise and minimize the awful underlying economic realities."

Since crisis conditions began in fall 2007, most people experienced pain without gain. For them, current conditions are worse, not better, with no policies proposed to help them. That's today's grim reality, especially across America and Europe.

In his most recent co-written February 2 article , titled "Manifesto for Economic Recovery and Ecological Sanity," Wolff said:

"Capitalism today abuses the people, environment, politics and culture in equal measures. It has fostered new extremes of wealth and poverty inside most countries, and such extremes always undermine or prevent democratic politics."

It's also "plunged the world into the second massive global economic crisis in the last 75 years." Yet in America and Europe, policies adopted assure harder than ever times ahead. Elections don't matter as no major parties offer better choices. Whatever their name, they're all involved in benefitting the few at the expense of the many.

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