Contrary to recent public statements by US politicians, media and mainstream neoliberal economists, the US economy is not doing ‘great’. How accurate are official claims regarding inflation, jobs, and US GDP? The presentation will review independent data sources, and even often ignored government statistics, to show a picture different from the mainstream ‘spin’ on inflation, jobs and GDP: Why inflation is actually higher than reported in CPI and PCE indexes, why job creation is less than reported in the government’s main CES survey, and why the latest GDP trends point to a deeper recession in 2025, not a ‘soft landing’.
Related themes presented include why record US deficits, debt and interest costs will continue to surge in 2025 and after, resulting in the announcement of a major Austerity fiscal policy in 2025 regardless of who wins the election; how the recent rapid expansion of the BRICS and their alternative currency and global financial structure now emerging will further negatively impact the US domestic economy in 2025 and after; and why neither the policies of Harris or Trump will resolve the deepening problems in US economy or the accelerating decline of the US global empire.
Dr. Jack Rasmus is the author of The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump, Clarity Press, 2020, and the forthcoming The Twilight of American Imperialism, Clarity Press, 2024. Dr. Rasmus is also author of several prior books on the USA and global economy, including Alexander Hamilton and the Origins of the Fed, 2019; Central Bankers at the End of Their Ropes, 2017; Looting Greece: A New Financial Imperialism Emerges, 2016; Systemic Fragility in the Global Economy, 2015; Epic Recession: Prelude to Global Depression, 2010; Obama’s Economy: Recovery for the Few, 2012; and The War At Home: The Corporate Offensive From Reagan to George W. Bush, 2006.
Dr. Rasmus formerly taught economics at St. Mary's College in Moraga. Prior to teaching and publishing, Dr. Rasmus was an economist and strategic market analyst for various global tech & market research companies for twenty years. Before that, for fourteen years, he was a local union president, contract negotiator, strike coordinator, and organizer for various unions, including the UAW, CWA, HERE, and SEIU.
Dr. Rasmus blogs at: jackrasmus.com/ & his twitter handle is @drjackrasmus. He hosts the weekly radio show, Alternative Visions, on the Progressive Radio Network (podcasts available at: alternativevisi... and from his blog).
12 сен 2024
