The Myth of US Economic Recovery

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The Myth of US Economic Recovery

by Stephen Lendman (stephenlendman.orgHome – Stephen Lendman)

Establishment media never miss an opportunity to miss an opportunity to set the record straight on virtually all major domestic and geopolitical issues.

They consistently feature state-approved propaganda over journalism as it should be they long ago abandoned.

Since last year’s made-in-the-USA economic collapse, Main Street America has been mired in protracted Depression more severe that during the 1930s.

Friday’s jobs report concealed Main Street reality.

Despite over 900,000 jobs created in March, over one-fourth of working-age Americans remain unemployed — a figure greater than peak unemployment during the 1930s Great Depression. More on this below.

Ignoring reality, the NYT falsely called the outlook “bullish,” adding:

“The American job market roared back to life in March (sic).

“(T)he rebound should only get stronger from here (sic).”

According to a fake news Washington Post report, “the economy is (finally) cooking with gas (sic),” adding:

“The job market seems to be well on its way to recovery (sic).”

The Wall Street Journal headlined: “The Vaccine Jobs Boom Arrives (sic).”

“The best stimulus has turned out to be the shots in the arm (sic).”

Left unexplained by the Journal and other establishment media is the enormous harm inflicted on millions of Americans and countless others abroad from mass-jabbing with hazardous, unapproved experimental drugs that don’t protect as falsely claimed.

The latest CDC report — for the mid-December through March 26 period — reported nearly 51,000 adverse events and over 2,200 deaths from covid jabs.

These weekly reported numbers are a minuscule snapshot of an infinitely greater toll on health by widespread use of hazardous drugs on unsuspecting millions of people.

A human health catastrophe is happening in real time that will get far worse ahead as jabbing, re-jabbing, and booster jabbing continues ahead — endlessly.

Instead of sounding the alarm about what’s going on, establishment media support it by a relentless campaign of Big Lies and mass deception.

Widespread harm to public health along with a sick economy define America’s deplorable state.

Things are highly likely to worsen ahead, not improve — including by a diabolical plot to eliminate already eroded speech, media, academic and other freedoms in the US and West, free and open societies on the chopping block for elimination.

Economist John Williams reengineers US economic data based on how accurately calculated pre-1990.

His latest report explained another spike in inflation as economic activity “plung(ed).”

He stressed that there’s “no indication of imminent economic recovery.”

Industrial production, construction, durable goods orders, new home sales, housing starts, building permits, and retail sales declined in the latest reporting period — while producer and consumer prices are rising.

Record money supply growth isn’t showing up on Main Street. It’s largely going for speculative excess.

According to Williams, “US economic collapse continues in a hardening protracted L-shaped non-recovery.”

“Severe systemic structural damage…will forestall (a) meaningful rebound into 2022 or beyond.”

Real unemployment is 25.7% — not the phony low-ball Labor Department number.

The US jobs market is mired “deep in non-recovery territory,” Williams stressed.

Year-over-year, consumer price inflation is 9.4%.

Ordinary Americans understand economic collapse better than TV talking head economists.

At a time of protracted Main Street Depression conditions, millions of US households struggle to pay rent, service mortgages, cover medical bills, heat homes, and manage other daily expenses. 

Millions are food insecure, unsure of where their next meal is coming from or what they can afford to eat.

Millions more haven’t enough income to pay rent, service mortgages, or afford medical care that’s double or more the cost than in other developed countries.

Most all of the above goes unreported by establishment media.

US media reported economic improvement bypassed Main Street at a time when the nation’s privileged class never had things better.

That’s the reality omitted in daily news reports.

The dismal state of Main Street America is largely ignored.

So is the daily struggle of millions of Americans to get by because of indifference by its ruling class.

VISIT MY WEBSITE: stephenlendman.org (Home – Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.

My two Wall Street books are timely reading:

“How Wall Street Fleeces America: Privatized Banking, Government Collusion, and Class War”

www.claritypress.com/product/how-wall-street-fleeces-america/

 

“Banker Occupation: Waging Financial War on Humanity”

www.claritypress.com/product/banker-occupation-waging-financial-war-on-humanity/

Stephen Lendman
Stephen Lendman
Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or archived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.