John Crudele: U.S. economic growth is all illusion

Section:

By John Crudele
New York Post
Thursday, November 6, 2014

As voters were coming out of the polls on Tuesday, pesky reporters were asking why they voted the way they did -- and what was going through their heads?

The most popular response -- from 45 percent of the voters -- was the economy.

Only 28 percent said their families were doing better financially.

The economy is always the major issue in an election during times like these.

So no one should have been shocked that voters took their anger out on the party that controls the White House, even though Republicans are just as much to blame for our economy’s failures.

John Harwood, a political reporter for CNBC, asked a very good question before the votes were counted: Why?

As in, "Why did people appear so angry and unhappy when the stock market was at record levels, the unemployment rate is down sharply, inflation is subdued and the number of jobs is increasing?"

Harwood's explanation was that the benefits of this economic growth weren’t being evenly distributed and were being felt only by the blessed in the American economy -- the upper 1 percent, if you will.

Harwood is only a little right. Yes, the economy is blessing the few and leaving the rest of us in limbo.

What Harwood and the rest of the folks who rely solely on Washington’s mainstream thinkers and Wall Street boosters for their information don't realize is this: The economy isn't really doing what the statistics say it is doing. ...

... For the full commentary:

http://nypost.com/2014/11/06/us-economic-growth-is-all-an-illusion/



ADVERTISEMENT

Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore

Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.

Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.

Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.

Goldbroker.com is listed among GATA's recommended monetary metals dealers. (http://www.gata.org/node/173)

To invest or learn more, please visit:

https://www.goldbroker.com/



Join GATA here:

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16