Propaganda Works: A Significant Majority Of Americans Think The Economy Is Good... And Only Getting Better:
Americans’ perception of President Obama’s economic policies are on the mend according to a new report from CNN.
“For the first time since President Obama took office,” says journalist Matt Egan, “a significant majority of Americans give the economy two thumbs up.”
On top of that, Americans think the sunny economy will keep going. Over two-thirds of those polled believe the economy will be in good shape a year from now, compared with 38% who say it will be in poor shape.
The findings are the result of several factors including more jobs, healthier economic growth and cheap gas.
But what if, for the sake of argument, the
factors CNN cites are complete conjecture?
Jobs, jobs, jobs: It’s no secret that people feel better about the economy when they’re confident they can get a job.
After years of sluggishness, more than 2.95 million jobs were created last year, making it the best year of employment growth since 1999.
Michael Snyder recently noted that the unemployment numbers are a massive lie.
One cannot cite job creation as a measure of economic health without also mentioning job losses and population growth rates.
Since 2008, according to Snyder, our population has grown by 16.8 million people but there has been a net loss of 140,000 jobs.
It’s also important to note that the jobs which have been created are most part-time or low wage.
Moreover, the reason the official unemployment rate is going down is because the government considers millions of long-term unemployed workers to “no longer be in the labor force.”
Currently a record 101.6 million working age Americans are not working.
Finally, if we look specifically at last year,
net job gains are nowhere near what CNN says they were.
Last year’s entire net gain, when we include all the data and not just the cherry-picked statistics, is about 218,000 jobs.
Now, that is a “significant” difference in what CNN claims actually happened...
Healthier growth: The U.S. economy is growing again… Gross domestic product, the broadest measure of growth, rose 2.4% in 2014.
The government’s official statistics say the U.S. economy is growing again, but let’s get real.
There is no growth when you account for inflation.
This is made clear by the following real GDP chart from John Williams at
ShadowStats.
CNN cites 2.4%, but when you account for inflation you end up with a negative growth rate.
That means our economy is not growing, but rather, has been shrinking for over a decade.
CNN goes on to cite other factors like improved consumer confidence and rising stock markets.
But as we know, consumer confidence has only improved because literal trillions of dollars have been injected into the marketplace in the form of credit for things like electronics, houses, cars and education.
That tap is starting to run dry.
And when the credit locks up, so too will any remaining momentum in the economy.
Further, should the Federal Reserve stop injecting money into the economy we would very quickly see a reversal in stock markets.
So, while a “significant majority” of Americans think the economy is doing good and even more people think it’ll be better next year, the stark reality is more than likely the exact opposite.
The
end game is close and a lot of very influential people are warning that the economy is in serious trouble. Former Federal Reserve Chairman Alan Greenspan, who has been credited as the architect of America’s modern day monetary policy, says that we will soon experience a
significant market event and that something bigis going to happen...
