Is there any way of discerning the truth about the US economy? Famed John Williams of Shadow Government Statistics makes a living by dissecting government statistics and providing us with the truth. The following is from his most recent report:
If the economy will not grow, just redefine it. The US economy continues to stagnate and turn down anew, as part of the deepest and longest economic downturn seen since the Great Depression. With actual business activity moribund, the US government once again has turned to redefining a major economic series, so as to boost a reported activity.
This agrees with my previous observation that the US economy is sinking, regardless of stock market-top fluctuations. How long, I wonder, before the real truth decorates newspaper headlines? Frankly, I’ve never seen a stock market so obsessed with current news. I grew up thinking that the stock market discounts conditions as they will ... Log in or subscribe to continue reading.
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