Tossing The Consumer Under The Bus…And Insanely Expecting An Economic Recovery
by D. Sherman Okst
I’ve been pouring through the Fed Reserve’s recent release of circa 2005 FOMC meeting transcripts. The most striking observation that one can make is that the consumer – the very lifeblood that determines whether our economy will live or die – has been discarded.
Discarded — as in tossed under the bus.
Ninety-nine percent of our “economists” today have it entirely ass backwards: They believe that the economy supports the consumer. In reality, it really is the other way around. Proof: You can put two or more consumers together and create an economy but remove the consumers from an economy and you are left with nothing.
“Jobless recoveries” are Cable News media spin.
The following excerpts will leave you thinking that you are watching some bizarro episode of the “Twilight Zone.”