As SLL has argued, the US is in a slow-motion depression. Gerold at theburningplatform.com provides additional support.
My forty-year old Godson was belly-aching about the lack of jobs. He whined it’s all the Boomers’ fault.
I tore a few strips off him. I asked him WTF am I wasting my time researching and writing these articles if he doesn’t read them. Since I had him cornered, I told him a few things he obviously didn’t want to hear.
We are in an economic depression. It was predicted in Strauss and Howe’s 1997 book “The Fourth Turning” [Link] that occurs every four generations as a time of great turmoil. Their Generational Theory is a framework which explains where we are, how we got here and where we’re going. For more details see ‘Notes” at end.
This is a ‘Stealth Depression.’ The government is doing its utmost to hide it with fake statistics. Their ass media handmaidens are carrying their water telling us everything is wonderful. And, if my Godson believes the ass media, he deserves his fate.
At the bottom of this deception are fake inflation (CPI) statistics. They distort everything else because most economic data is ‘inflation adjusted.’ Consequently, when other economic data such as GDP growth is adjusted with fake inflation statistics, then those numbers are also distorted.
Note: there’s a difference between inflation (increased money supply) and Consumer Price Index (CPI), but I used the terms interchangeably to make it easier for my Godson to understand.
Anyone who buys stuff or reads John Williams ShadowStats [Link] knows that the actual inflation rate in 2017 is roughly 5% and NOT the bullshit 2% (or less) that the government claims. I say “roughly” because I rounded the numbers to make it easier for him to understand.
I wish I could have shown him the ShadowStats graph below.
Consequently, every so-called 2017 statistic that’s “inflation-adjusted” is off by 3%. (Hint: 2 – 5 = -3)
The government claims that (inflation adjusted) 2017 GDP growth is roughly 2%. Since it’s understated by 3%, it means the economy is “growing” at negative 1%. In other words, the economy is SHRINKING by 1%. And, that’s only this year.
To continue reading; The Economic Collapse Began Long Ago