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Watch: Is the economy in a recession?
Despite economic growth, one financial expert states that the economy is in a recession right now.
Fri, Aug 10 2012 at 11:22 AM
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I’m not an economics expert, far from it, but my understanding is that as long as there is positive economic growth then the nation isn’t technically in a recession. Imagine my confusion when I watched financial expert Todd Schoenberger of The Blackbay Group proclaim that the nation is in the middle of a recession despite reports showing overall growth in the economy.
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obbopp
Aug 15 2012 at 1:03 PM
A very complicated topic.
Seldom to never mentioned is the increasing number of employees working less than full time and with few to no benefits.
Then there is the increase in temporary workers hired through an employment agency.. NOT the traditional jobs leading to retirement and a pension after decades of loyal work.
How about the growth of "employees" hired as independent contractors who are responsible for ALL their own "benefits" and to pay the full amount of Social Security payments and self-employed
.... More
tax, etc.
When was the last time you heard the pundits mention the ever increasing number of visas such as the H-!B visa for one allowing firms to bring in foreign non-USA citizen labor that assists in keeping wages down?
Congress keeps increasing the numbers of foreign workers allowed in via the many visa-types.
How about the USA working-poor class in direct competition with uhhhh... future USA citizens after the NEXT amnesty numbering in the multi-millions.
The economic law of supply/demand directly influences wages with that law benefiting employers.
Hosing rental costs also rise constantly as those many millions of "future citizens" clamor for housing.
"While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks," Buffett wrote in a Sunday New York Times Op-ed.
One reason companies are so profitable is that they're paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those "wages" are other companies' revenue.
In short, our current system and philosophy is creating a country of a few million overlords and 300+ million serfs. Blodget
Lengthy books have been written about the topic covered here but suffice it for me to proclaim....
My best advice to youth is to depart the sinking ship that is the USA.
The ruling elites and corporate USA and other powerful entities own the USA, including the federal government and barring a major change that can only come about via a military coup I foresee dire days for the USA commoner-class whose ranks will continue to swell.
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