Anybody who thinks the U.S. is in a so-called recovery isn’t listening
to economist John Williams. He contends, “We haven’t had a recovery and
we’re not about to have one, and it’s getting worse.” Williams says it’s
because, “The consumer is in very serious trouble. . . . The average
guy is not making it. His income is not keeping up with inflation.” As
far as Congress getting the budget and debt ceiling under control,
Williams says, “Both sides are faced with devil’s choices.”
Read more: http://www.marketoracle.co.uk/Article38741.html
Read more: http://www.marketoracle.co.uk/Article38741.html
1 comment:
And I cannot agree more. Look what is going on with it. Even Yen (I thought it was the strongest currency for today) is vulnerable. As far as I recall, Australian dollar is doing alright today. The so-called recovery is pretty distant from us, therefore we should not believe all of those housing and employment markets recovery. It is enough to take a look at the amount of people still using payday loans. Despite this service being extremely costly, the nation is not ready to refuse using it. So are we really in the process of our recovery? I doubt that
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