Invest Intelligence When It Realy Matters
The Recovery is Strong?
All throughout the post-bubble period, Greenspan and President Bush have been claiming how “solid” and “strong” the recovery has been since the recession of 2001-2002.
WRONG. As I have been saying for over a year,the “recovery” has been very weak and the clever use of government statistics has fooled many Americans.But individually, for many Americans their financial condition as much worse (whether they realize it or not).
Today, Americans struggle to pay their utilities and gasoline bills, many Americans do not have health insurance and the “job creation” that has occurred has been mainly in Asia with the help of corporate America and President Bush’s Jobs Creation Act.
Meanwhile, of the jobs that have been added, most have decreased benefits such as healthcare and companies are no longer offering pension plans but are placing the burden on employees by offering a 401k plan.
The chart below shows the current recovery statistics versus other post-war recoveries. And although the numbers are from the government’s own distorted and misleading statistic database, you can see that it still shows how weak the recovery has been.