Will American Medical Science Follow the American Economy on the Road to Destruction?
As I recently wrote, the US no longer has an economy. America is a market for goods produced offshore with foreign labor that US global corporations sell to Americans. The US which once produced its own manufactured goods and food now imports much of it. The result is that fewer and fewer American incomes are based in the production of goods and services consumed by Americans. This is the path of de-industrialization and poverty.
Not only does America no longer have an economy, it no longer seems to have any economic statistics or ones that make much sense. For example, allegedly inflation is at 9 percent annually, but gold and silver prices have fallen, with gold down about $250 an ounce and silver down about $6 an ounce. Percentage wise, these are large declines. Inflation is known to erode the value of paper fiat money, but the US dollar is up against the Euro and other currencies, and inflation is eroding the value of real money–gold and silver.
According to the Annenberg Public Policy Center, the economy has regained 9 million of the lost lockdown jobs, dropping unemployment to 3.6%. With about 2 job openings for every person seeking a job, we are at full employment. Wages have risen strongly but by less than inflation, so real earnings are declining but corporate profits are high. There are slight decreases in the number of people without health insurance and in the number receiving benefits from the Supplemental Nutrition Assistance Program. So there are signs that things are improving.
But despite full employment and high profits, consumer confidence in the economy has reached the lowest point on record.
Perhaps the explanation is high gasoline prices. Perhaps it is the vast numbers of illegal aliens the Democrats have invited into the country. Perhaps it is the decline in the stock market and pension accumulations. Perhaps it is fear of higher interest rates which will
Article from LewRockwell