I feel writing a little piece on the state of the economy.
Joe Biden has been proudly sharing that gas prices are down, evil companies will be taxed and everyone is working.
But is it that great?
- Less people are working
View data of the percentage of the total U.S. population that is neither employed nor actively seeking work.
fred.stlouisfed.org
- And the hours worked per week go down
In June 2022, the average working week for all employees on private nonfarm payrolls in the United States was at 34.5 hours.
www.statista.com
And is it useful what the workers do?
- We can safely say, less and less. The economy which is now largely a service economy versus a farming, mining and manufacturing economy as in the peak period of the country.
- Bureaucracy has been expanding greatly skimming the work.
What Biden is saying is that he will tax companies heavier, in reality that means even more bureaucracy. Less production and more people on welfare and companies shifting costs to customers.
One mistake they make is missing the recession, recession is essentially a way to move capital and labour to more productive enterprises. The current state is "protecting" every company and citizen. Hence everyone is "working" if they are productive is. questionable. Anyhow the state has been pushing non productive sources of energy like wind and solar. This creates less energy per employee vs nuclear or coal.
A free market economy is to let by free allocation money and labour find the most productive industries. (there you will make the most money) Today the free market is dead, which we see on the stock market. Everyone is looking at the state policies and the federal reserve. These are the main guiders of the stock prices.
Essentially the free market died in the last 2008 crisis, when the tax payers "saved" all unreliable / bad companies. But the decline physical production has been going on since the beginning of the 1980s.
The risk is not a financial crisis or banking crisis. (the government will step in) But a systemic cris. We will see our money get less valuable, we will be able to buy less for our money globallly. And whatever biden says on the oil prices, they are sharply up since before covid, and that's for most commodities.
I believe the risk is systemic, a slow descent of the production power of the nation. Whatever they say on the new world order. There is nothing new, it's already there.
With the government controlling the majority of the economy. Money effectively is a credit system already . They print the dollar credit and take them back when you are a bad boy like Alex Jones needing to pay $40M.
It's a poisonous cocktail, more bureaucracy, more tax on people, more tax on companies, less production, lies about the state of the country.
www.zerohedge.com
www.cnbc.com
nitter.pussthecat.org
