Paul Craig Roberts – We Are Witnessing A Collapsing Economy But This Is Really Scary
KingWorldNews.com
September 29, 2017
Today former U.S. Treasury official Dr. Paul Craig Roberts says the economy is collapsing but this is really scary…
Economic Trainwreck
September 29 (King World News) – Paul Craig Roberts: Do the Wall Street Journal’s editorial page editors read their own newspaper?
The front page headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out correctly that an economy alleged to be expanding at full employment, but absent any wage growth or inflation, is “a puzzle that complicates Federal Reserve policy decisions.”
On the editorial page itself, under “letters to the editor,” Professor Tony Lima of California State University points out what I have stressed for years: “The labor-force participation rate remains at historic lows. Much of the decrease is in the 18-34 age group, while participation rates have increased for those 55 and older.” Professor Lima points out that more evidence that the American worker is not in good shape comes from the rising number of Americans who can only find part-time work, which leaves them with truncated incomes and no fringe benefits, such as healthcare…
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