As the West stares into the great abyss and the world prepares for even greater economic turmoil, today Dr. Paul Craig Roberts warned King World News that governments and the media are lying to people as the elites enslave humanity. This is an ominous warning from the former U.S. Treasury official as the world prepares to descend into economic chaos.
(King World News) – According to the official economic fairy tale, the US economy has been in recovery since June 2009.
U.S. Economic Fairy Tale
This fairy tale supports America’s image as the safe haven, an image that keeps the dollar up, the stock market up, and interest rates down. It is an image that causes the massive numbers of unemployed Americans to blame themselves and not the mishandled economy.
This fairy tale survives despite the fact that there is no economic information whatsoever that supports it.
Real Median Household Incomes Declining
Real median household income has not grown for years and is below the levels of the early 1970s.
No Growth In Real Retail Sales
There has been no growth in real retail sales for six years.
Then How Can There Be Economic Growth?
How does an economy dependent on consumer demand grow when real consumer incomes and real retail sales do not grow?