Links to global economy, financial markets and international politics analyses
Sunday, April 9, 2017
Larry Lindsey – What The World Is Now Witnessing Is Unprecedented
"On the heels of the U.S. attack on Syria, the man who served three U.S. presidents and was also a governor of the Federal Reserve, told King World News that what we are now witnessing is unprecedented.
Eric King: “When you look at the U.S. economy, Larry, there’s a rot that’s underneath it. John Williams of Shadowstats keeps track of the real unemployment, and when he quantifies it the way they used to in the 1980s it’s around 23%. We haven’t really seen it come off of that 23% figure yet.
Eric King continues: “There are a large number of unemployed, especially when you look at the amount of people who aren’t even trying to get work anymore. So this economy appears phony to many people. I will give you an example of what we just saw hit the newswire about the auto sector and the crashing prices in the used car market. When the 2008/2009 collapse happened, we printed all of this money and we borrowed from our future..."