Why the Economy in the US Has Not Recovered Essay

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U.S. Macroeconomics

The current macroeconomic situation in the U.S. is bleak. The country is over $17 trillion in debt. It has given the right to coin currency to the Federal Reserve, which prints money then loans it to the U.S. government, charging interest, a system which can only logically lead to more national debt. Insanely, this system has been in place for more than 100 years. Today it is worse than ever as easy money policy tools like Quantitative Easing (QE) are artificially "boosting" the still dragging economy, while interest rates are kept low and (markets are teased with the prospect of them being raised). Banks control (or else play a significant role in) the ebb and flow of international commerce, economics, politics, geopolitics, etc. The macroeconomic situation in the U.S. is a direct result of a banking cartel's control of finance, lawmaking, law enforcement, law decisions, and the all around failure of the rule of law to mean anything more than empty words mouthed by politicians and pundits.

In the terminology of the economists, unemployment is still high (higher than even reported according to everyone who is aware that the BLS "fixes" its statistics), inflation has been rising ever since WW2 (but liftoff really began with the implementation of the Federal Reserve Act) so that "a dollar buys a nickel's worth," at least back in 1976 (Durden, 2015; Lumet, 1976).

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GDP growth is virtually non-existent, climbing at a rate of 3% which is well below the postwar recession average, and in the first quarter of 2015, it contracted three-quarters of a percentage point, indicating that QE has failed to "spark" the economy (unless one believes that another seasonal adjustment needs to occur) (U.S. Bureau of Economic Analysis, 2015) no matter what the "jobs data" report is (adding jobs in low quality sectors like the service sector does not really inspire confidence in an economic recovery). Expansionary fiscal policy tools are still not working. The rich find loopholes out of paying taxes, as even Warren Buffet admits. Those who profited from the Big Short of 2008 (like Kyle Bass) are putting their billions into gold bullion "because you can't print more of that," (Durden, 2015) and QE has done nothing but make a lot of people on Wall Street wealthier than before. The FOMC is powerless to effect any real significant change, as even after "strong U.S. jobs data" is….....

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