The ONLY way to Measure Economic Health
For those of us paying attention, the signs of America’s decline have been as clear and crisp as the toll of a church bell in winter air. All that is needed is a willingness to hear it and a stout heart to accept what it means.
Lots of “experts” say that I’m overstating the crisis.
They claim that America is doing fine, and all is well at the epicenter of global capitalism. To make their point, these experts will trot out statistics to show that the economy is still growing and the stock market is doing better than ever. The GDP and the DOW are doing fine, they crow.
Of course, these statistics tell us little about the current and future health of the economic system. The value of any human built system isn’t measured that way. It’s measure by what it does. What it accomplishes. For example, if doctors measured the success of a medical procedure the way the Federal Reserve and economists measured it, its success would be based on the amount the doctor got paid for it and not whether the patient lived, died, or was healed.
This means — and this is as simple as it gets folks — the only measure of economic success is whether American families are becoming more prosperous, or not. The answer to that is very clear and simple too.
It’s a resounding NO! We’re worse off.
We are worse off than we have been since the 70’s:
- Less income, fewer good jobs, more underemployment.
- Fragile financials — more debt and higher costs.
- Little savings and evaporating pensions.