However, the reality is that the economy is not strengthening. In fact, Dawn Bennett believes we're running into another recession if we're not already in the beginning stage sof one. According to the September jobs report, 142,000 jobs were added during December, far less than the expected 200,000. When you look closer, though, 28 states lost jobs during September, with total losses in those states at 120,000 with gains at 99,000. With a net job loss for more than half of our states at 21,000, how credible is that overall 142,000 job gain? In addition, the Bureau of Labor Statistics revised July and August numbers down by a total of 59,000 jobs. And yet, "The economy is growing!" announce the actors reading Orson Yellen's script.
Some news does come directly from the industry and analysts. For example, The Wall Street Journal published an article on October 26th titled "US Companies Warn of Pending Recession," reporting that quarterly profits and revenues at big American companies are declining. Many businesses report a protracted slowdown in production, sales, and employment. Reuters is another news source that reports the true problems – that analysts actually expect the index's companies to book a 2.8% decline in EPS from last year's third quarter sales.
A new crisis is beginning. The "magic bullet" of central bank intervention is illusion. Either through ideologically-driven blindness or incompetence, they've just stopped attempting to use solid, fundamental policies to help to create solid and sustainable growth.
Read more from Dawn J Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-the-war-of-the-words-regarding-global-economy-and-the-fed-638621.htm