Usually, I just assume that much of the media is propping up the powers that be, and saying that things are good even though everyone knows its not good. The good news that one sometimes hears is probably just lies.
But there is the possibility that economists really have no fundamental understanding of things and just guess at stuff.
Everyone I know is saying the same thing."
IMO, there is positive economic news but it is supported only/mostly by deficit spending/priming (QE).
Look at it from a simple 3rd grade mathematics point of view.
Gov't Debt = +$20Trillion IRS Revenue = $2.5Trillion/year Gov't Spending = $3.75 Trillion/year
What's wrong with that picture?
Regarding the USA's situation, it is very bleak
Look at it from a simple 3rd grade mathematics point of view.
Gov't Debt = +$20Trillion IRS Revenue = $2.5Trillion/year Gov't Spending = $3.75 Trillion/year
What's wrong with that picture?
Not only is the financial picture bleak, but look at the actions of Obama... he has just spent more money than all previous American Presidents who preceded him COMBINED.
This he spent in some effort at stimulating the economy. Right.
All that money and there are still some 3 million fewer jobs than that day in 2008 when he won the election.
They are out of ammunition and the walls are crumbling.
Don't believe the 'unemployment' statistics that the US Government feeds you as they are a lie. They do not count someone as unemployed once they are out of work for more than six months.
So they are counted as employed - even if they still have not found a job.
RIDICULOUS!!!
So you must instead decipher the raw numbers from the Bureau of Labor Statistics. That shows the extent of the disaster.
Some economists really have no fundamental understanding of things and just guess at stuff. Some do understand and don't guess. The latter are rarely mentioned in Congress or the media.