Celente: US GDP growth is only a temporary uplift
Published: 30 October, 2009, 07:15
Edited: 31 October, 2009, 05:27
TAGS: Crisis Chronicle, USA, Economy
Director of the Trends Research Institute Gerald Celente believes the unexpected annual US GDP growth of 3.5 percent over the last three months isn't proof of a long-term recovery.
“The GDP rise is a result of the trillions of dollars – between the Bush administration’s top program and President Obama’s $787 billion stimulus package – temporarily juicing the economy,” he said. “They are printing paper money backed by nothing.”
30.10.2009, 03:56
“US should work for settling the conflict among Afghan parties”The Bush administration did the country an ill service by switching attention from Afghanistan to Iraq, and now putting more troops in Afghanistan is not what US needs to do, anti-war activist Ann Wright told RT. |
30.10.2009, 10:32
8 comments
US citizens continue to live in welfare quagmireLiving off welfare isn’t easy, but some Americans would still rather rely on their government to provide them with homes and money. RT visited a community that puts food stamps and social aid ahead of finding a job. |
The question should not be about GDP but about how much longer the average working American is going to keep carrying all the load, while the wealthy at the top and the SOCIALLY ENHANCED {welfare collectors} at the bottom have a leisurely life. Too many Americans are just sitting in the wagon enjoying the ride, while a very few workers are struggling to keep the wagon moving. More socialism will cause the few workers that are still pulling the wagon to give up and climb into the wagon with the others. Then, eventially the wagon stops and everyone is very surprised because they thought it was a government pulled wagon, rather than a people pulled wagon. Then a pretty speech is made by the top government politician informing everyone that all has failed in spite of all the wonderful gov't laws/policies.