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Ongoing Global Economic Crisis

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Ongoing Global Economic Crisis - by Stephen Lendman

Ordinary people now suffer under a protracted Main Street Depression.

Rosy scenario optimists ignore clear-eyed analysis. Economist Paul Craig Roberts sees hard times getting harder.

His "Dismal Economic Outlook For The New Year" article highlights what media scoundrels and mainstream analysts miss or suppress.

Decades of imperial wars, exporting America's manufacturing base and other high-paying jobs, as well as financial deregulation and corporate/government collusion "severely damaged the US economy and the economic prospects of 90%" of households. They've never had it so bad with worse coming.

It's clear from wealth distribution, unemployment, growing poverty, and millions in need losing their struggle to get by. Homelessness, hunger, lost homes, closed strip malls, empty office buildings and other facilities, "shopping mall vacancies," and "huge population losses in America's" once prosperous manufacturing cities show a nation in decline.

Lower real median income, rising consumer debt, skyrocketing federal levels, banker bailouts, permanent wars, and other wrongheaded policies assure decline and perhaps collapse.

America's economic "recovery" is "all talk and no reality." Manipulated data exaggerate growth, understate unemployment and inflation, and hide pernicious offshoring, insolvent banks, and similar federal debt problems. They also conceal troubled states and cities in crisis.

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