The “New Economy” is a hoax like most everything else the bought-and-paid-for-media feeds to Americans. There is no new economy. There is an unemployed economy. The headlined unemployment rate is just over 10 per cent. The real unemployment rate, as measured by the current methodology is 17 per cent. The unemployment rate as measured by the methodology of 1980 is 22 per cent. If jobs offshoring is a benefit to America, as the hired pimps of the transnational corporations claim, why is more than one-fifth of the U.S. work force unemployed? Why does the U.S. have the largest trade deficits in world history? Why is the U.S. dollar losing value over time to other tradable currencies? Paul Craig Roberts (via kvasir) ☀
Tuesday 23 February 2010
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