Comments (3)

  1. Terry Krumenauer says:

    This was a very, very good article. Keep up the good work

  2. David says:

    you best not be talking mmt.
    or the big brother in the wings, socialism.
    My money is on Trump RUNNING the USA through a BANKRUPTCY.

  3. I do wish that commentators would correct the erroneous IMF real GDP figures:
    “…..the pace of real global GDP growth: 3.7 percent according to IMF data),”
    I have written a book about this and much more on how the fraudulent statistics completely distort these economic models – a free pdf of my manuscript is available on request to: peter@underco.co.uk
    We all wonder why the 95% have not benefitted from increased incomes over these last 30 years and wealth disparity is massive too, not to mention the lack of productivity which is confounding economists.
    The answer for me is simple: There has been no growth in GDP for at least since 2008 and in fact it has been negative – we are all getting poorer and everybody knows this in their hearts which is why they are confused. And it’s not difficult to prove. Nominal GDP is reduced by the ‘deflator’ – the rate of inflation in a given period. The problem is that inflation is very difficult to measure and the best approximation I have found is John Williams at: http://www.shadowstats.com/alternate_data/inflation-charts and
    http://www.shadowstats.com/alternate_data/gross-domestic-product-charts
    If you study these two charts you will find that USA has been in recession ever since 2000! This explains a lot about what’s taking place in the real economy. Labour stats too are grossly misreported We have 20% unemployment is measured in truth – depression levels!
    http://www.shadowstats.com/alternate_data/unemployment-charts

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