Today the Treasury Department announced that the US is not in a recession.
'I don't think we're in a recession and the data suggests that we're not,' Treasury Assistant Secretary for Economic Policy Phillip Swagel said in a press briefing today.
The GDP continues to grow, investment and orders for goods continues to expand. Retail sales are positive.
Why are so many people being laid off? Why are wages for most Americans stagnated or decreasing against rising costs?
It is simple. The rich are getting richer. With paring down the workforce, lowering wages and increasing the workload on the remaining employees, management can carve a bigger piece of the pie for themselves.
We are not in a recession. So, go "celebrate" the "good" news.
Remember, we're all stars now in the dope show.
Friday, June 6, 2008
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