Monday, February 4, 2013
Schiff Report: Video: The State of the American Economy
The first person in this video who said the American economy is moving sideways said it perfectly. Overall except for the economy losing .01 of a percent in the last quarter of 2012. The American economy is moving sideways, we aren't really losing ground overall from last year. But we aren't really gaining much ground either, because unemployment has been stuck at 7.9%. Its great that we are finally under 8% for the first time since 2009 but we are really moving forward in. Job growth we are just creating enough jobs and have enough consumer spending to hold ground but aren't. Really making much progress from what we did in the third quarter of 2012 where we did grow at 3%. And finally got the unemployment rate under 8% but we aren't doing well enough to move forward and generate real economic and job growth.
And a lot of this has to do with the fact that the Federal Government won't get out of the way and won't take care of their own business. As it has to do with the debt and deficit, the debt ceiling and the private sector because of this. Business's and consumers aren't comfortable enough to invest real money right now.