Obama Economy Worse Than 1970s

Floyd and Mary Beth Brown: 

Stagflation is back. Translation: America’s middle class is getting poorer and a record number of middle class workers are out of work. If you are lucky enough to have a job, your wages aren’t going up, but you are facing higher prices for everything. …more

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One Comments

  1. GRock says:

    US GDP is worse than what is presented in this article. Below is a link to Consumer Metrics site. This is a fund manager/hedge fund site that is used to give fund managers an edge when investing client money. Read through the May 26th post at toward the bottom of the page to get an explanation of GDP. Because the government uses rosy inflation stats in the GDP reporting that are far better than other inflation reporting of other government agencies, it shows some meager growth in the economy. One must remember we have a 1% population growth and anything below 1% in GDP is a shrinkage in the economy. 1% is a given and has to be factored in.Does it feel like the economy is out of a recession? Well when inflation is properly added in we are actually shrank 3% this last reported quarter! (GDP is reported as and annual rate.) http://www.consumerindexes.com/index.htmlGRock

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