1.7% real GDP for 2011 which is the number that represents three years of this Administration and $15 trillion spent to save the economy.
Austin, TX (PRWEB) January 31, 2012
“The Gorrie Details” column by James Gorrie in the current Absolute Wealth newsletter says, that when it comes to economics and the nature of reality there are two competing ideas in the United States today, one side thinks people create and control the laws of economics, while the other side thinks that the laws of economics are part of human existence and behavior.
James Gorrie points out that this division is played out in many areas of the economy, for example, what can really be said about 1.7% real GDP for 2011 which is the number that represents three years of this Administration and $15 trillion spent to save the economy. “The Gorrie Details” column of the Absolute Wealth newsletter explains that between inventory numbers and other manipulations, the real economic growth rate in the country is really flat at best.
The fact is, “The Gorrie Details” column of the Absolute Wealth newsletter reveals, is that many of the high paying middle and upper middle class jobs in the country are being replaced by lower paying jobs, and that is a big part of the re-employment occurring in the country today. That is why the wage level has returned to 1996 levels, adds James in the column, Americans who used to have good jobs, are now taking two lesser paying jobs to make ends meet.
James Gorrie of “The Gorrie Details” column of the Absolute Wealth newsletter explains that media talking heads crow about the stock market staying high, but remember the volume is very thin, and in reality the stock market has as much relevance to the health of the economy as a well-dressed corpse has to do with the living. James says that there are consequences to abusing the economic laws too often and too long, because the market eventually “adjusts” to the new normal of interference and stops being a market. The snap back of market forces when the interference stops, or stops being effective, would be harsh and uncontrollable, “The Gorrie Details” column of the Absolute Wealth newsletter adds.
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