The longest period of downturn during the great depression of the 1930s was four to five years. If you consider a general down trend it is seven years. During the great depression there were interspersed years of growth. We have now hit fourteen years of total collapse! Isn’t that incredible! Yet the media stays silent. Nope, no depression here, look the other way.
The government manipulates this by hiding the true inflation rate. If you look at the research at ShadowStats.com, the economist John Williams shows that when you compare GDP growth adjusted for the true inflation rate, we have had nothing but down years since 2000, except for a one quarter blip in 2005. Which just barely passed break even.
One economist looking at Williams numbers commented “This can’t be right, these numbers are terrible!”
Look at the great depression, it was nowhere near this bad
But they are. If you say there is only 2% inflation when the reality is 7% then you can talk up 5% of growth! Woo free growth!
The most frightening thing about this new Obama depression is that we have been re-structured as a nation to fail. Some of the things holding us down are:
Abusive inescapable taxation and regulation
Government agencies run amok like the EPA and Interior
Endlessly letting in legal and illegal immigrants to undercut wages
Corporate CEOs moving all production to the third world and China
In short, we have a moral crisis. “Just look for, the union label”. Do you remember that song? Most of America has forgotten.
What is going wrong in our LAW SCHOOLS that gives the likes of our supreme court and Obama a free pass?
What is going wrong in our MBA schools that teaches greed and evil?
Where is the public banishment and BOOING for all these leaders. Only one law school students had the guts to turn their backs when an evil administrator came to speak. Where are the leaders of our law institutions coming out and decrying Obama? They live safely in their little shells as our nation crumbles.