One must understand that the stock market does not represent the American economy. If you listen to people, meaning the talking head presstitutes and neoclassical economists say the economy is doing great because the stock market keeps rising from cheap money provided by the Federal Reserve and their manipulation of artificially low interest rates, you would think that is the case. But that would be totally erroneous.
According to CMS.gov U.S. health care spending grew 4.3 percent in 2016, reaching $3.3 trillion or $10,348 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.9 percent. While another sector that is even larger is the FIRE sector, which stands of finance, insurance, and real estate, and that is estimated to make up about 20 percent of GDP. Now looking at these sectors mentioned previously which make up nearly 40% of U.S. GDP then ask yourself the question “what do they produce?”
The answer: NOTHING!
If the healthcare industry is growing that means either more people are getting sick or the cost of drugs, or visits to the doctor are skyrocketing, or both. Either way, that is not good for the economy. However it does pad GDP stats.
The FIRE industry isn’t much better, financial services and insurance again produce nothing. In real estate, unless you’re talking about building new, affordable housing, it is not really producing anything. The land is already there. No one is producing land. Skyrocketing housing prices in various parts of the country are pricing out the next generation of property owners since wages aren’t rising. And for those of you that have children and are applauding your rising home price, be aware there will be consequences for that.
So where exactly is the economy growing? Well the dollar economy is expanding and that is a direct effect from the financial terrorists on Wall St. and at the Federal Reserve. Their policies have created this situation. Here is a recent headline from the Wall Street Journal.
Chief Executive Todd Vasos of Dollar General kind of slipped up and said “The economy is continuing to create more of our core customer.” To be straight to the point, people don’t aspire to shop at a fucking dollar store; they are forced to shop there, period! Do any of you that have some extra money in your pockets have Dollar General at the top of your stores to visit for necessities? Probably not.
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So don’t believe any of the financial propaganda that you hear from U.S. elected officials and the presstitue media, most of their data is fudged, or manipulated to make everything appear better that it is. It’s a dollar economy thanks to the switch to a financialized economy that produces no real goods. It has taken a few decades to get to where we are now, but that is currently the state of the U.S. dollar economy.
Sources:
https://www.wsj.com/articles/how-dollar-general-became-rural-americas-store-of-choice-1512401992
https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical.html
https://www.washingtonpost.com/news/monkey-cage/wp/2016/03/29/how-wall-street-became-a-big-chunk-of-the-u-s-economy-and-when-the-democrats-signed-on/?utm_term=.da637e68bc3c
Image Sources:
https://imgsafe.org/image/9d44506217