As the United States continues to suffer from the economic disaster created by Wall Street, the “experts” are once again discussing the possibility of a “double-dip” recession. This play on words is ludicrous to those of us who realize the recession which began in December of 2007, never ended.
The problem with the term “double-dip” recession is that it has been transformed into a misnomer by the media. The National Bureau of Economic Research (NBER) came up with the term “double-dip” recession to describe relative changes in economic data during a recession. According to the NBER, a double-dip recession is “A continuous recession that’s punctuated by a period of growth, then followed by a further decline in the economy.”
But the “period of growth” referred to by the NBER does not designate the end of a recession. It merely acknowledges a slight improvement followed by a decline in economic conditions. Note the most relevant portion of the NBER’s definition is that a “double-dip” is a “continuous recession.”
According to economic cycle theory, economies oscillate between economic contractions (recessions) and economic expansions (recoveries). As such, an economy cannot advance from one recession to another recession without having experienced an economic recovery. Thus, a “double-dip” recession, as defined by the NBER, is consistent with economic cycle theory because it is defined as a continuous recession; a fact that is never mentioned in the media.
In contrast, when politicians, the media and government hacks refer to the term “double-dip” recession, they claim the economy is sinking back into an economic contraction or recession, after having experienced an economic expansion or recovery. This is simply not true.
The term “double-dip,” was coined by the NBER for the purpose of acknowledging a loss of economic momentum during a recession, rather than a shift from a recovery to a recession, as interpreted by the media. The media establishment has distorted the NBER’s definition of “double-dip” recession in order to deny the existence of the most severe recession in more than a century.
As most Americans realize, there has been no economic recovery. Borrowing trillions of dollars in order to finance banking bailouts, housing subsidies, food stamps, unemployment benefits, and medical care for impoverished Americans does not constitute an economic expansion or recovery; at least not for a nation that claims to be based on “capitalism.”
The objective of this deception is to improve consumer confidence, as directed by Washington. The NBER realizes the media and its “experts” have deceived the American people, but they have kept silent on the matter because they too are members of the establishment.
With nearly one-half of the entire U.S. population currently receiving some form of government assistance, no honest person of sound mind can legitimately claim that the U.S. economy recovered in June 2009, or any time thereafter. Furthermore, with such a high level of public assistance, one could argue that the U.S. economy does not operate based on free market principles. Of course, there are many other points that would strengthen this argument.
If ,in fact, the recession ended in June 2009 and an economic recovery began as proclaimed by the establishment, the private sector would have been hiring in mass over the past three years. Despite sitting on more than $2 trillion in cash, while generating record profits, America’s private sector continues to lay off workers, cut benefits and outsource jobs to nations that offer slave labor.
The establishment has added some twists to its campaign of deception by labeling the post-crisis period a “jobless recovery.” The concept of a “jobless recovery” has been endorsed by most establishment economists even though it defies basic principles of economics. There is no such thing as a jobless recovery unless you can locate a nation where people don’t have to work.
Although there has been some hiring in the U.S., most of this “job creation” has come from the low-wage, low-skill segment of the labor force, such as temp work, retail, fast food and entry-level health care positions.
Americans have been subjected to establishment-based propaganda similar to the “double-dip” delusion for decades. Compiling a list of this deception would easily consume several large books. But I will discuss a few recent examples.
For instance, a decade ago Washington claimed Saddam Hussein had “weapons of mass destruction.” This blatant lie was crafted in order to build support for invading Iraq. America’s Zionist establishment claimed that Saddam posed a threat to the U.S. due to his “arsenal of WMDs.” And we all know how that story turned out.
Using the WMD excuse, the United States seized complete control over Iraq’s government and its highly-prized oil assets. More important, Washington repatriated Iraq’s oil sales for petrodollars. Since the invasion of Iraq, there have been more than one million Iraqi casualties, while millions of survivors have fled the nation. Today, post-Saddam Iraq is in social, moral and economic disarray.
Unlike the period when Saddam was in control, Iraq is now a breeding ground for radical militant groups as a result of U.S. intervention. Meanwhile, the U.S. media continues to report how much better Iraq is due to the decade-long war, and how grateful Iraqi citizens are to the U.S. for stealing their national treasures and murdering their friends, neighbors and relatives.
During the financial crisis of 2008, the Federal Reserve and Washington utilized a similar strategy. They claimed that unless the banking bailout was passed, the U.S. would enter a depression. But American homeowners and workers were not bailed out. Instead, their tax dollars were sent to Wall Street.
And, of course, the bailout did not prevent a depression. Ironically, the bailout made the banks designated as “too big to fail” even bigger. This “too big to fail” mantra is but another scare tactic orchestrated by the establishment. Common sense tells us that any bank deemed as “too big to fail” poses a tremendous risk to the economy and must be broken up.
Today, the same banks responsible for the collapse of the global economy continue to defraud investors and consumers because Washington refused to pass real Wall Street reform.
The puppets in Washington even provided a clean getaway for their masters. Despite widespread fraud of unprecedented proportions, there has not been a single criminal indictment. Thus, Washington has reinforced the moral hazard enjoyed by Wall Street for decades. This ensures that banking and securities fraud will continue to remain a primary component of America’s so-called “free market economy.”
The Zionist establishment’s most recent pack of manufactured lies has been focused on Iran. According to the criminal puppets in Washington, Iran poses a threat to the U.S. and its “allies” as a terrorist nation seeking to arm itself with nuclear weapons.
Unfortunately, most Americans are unaware of the facts about Iran and Israel, just like they are unaware of the real reasons for U.S. military presence in Iraq and Afghanistan. As informed citizens of the world realize, Iran is the most peaceful nation in the Middle East, and has remained so for many centuries. Israel is the real threat; not only to the Middle East, but to the rest of the world. No other nation comes remotely close to the dangers lurking from Israel’s nuclear-armed, trigger-happy regime.
Despite being considered America’s “strongest ally in the Middle East,” Israel has engaged in a long list of activities that could be considered acts of war against the United States. For instance, Israel has been caught spying on the United States numerous times, committed multiple acts of terrorism on U.S. soil, and attacked at least one unarmed U.S. naval vessel, resulting in dozens of casualties.
In every case, there have been no repercussions from Washington because each of America’s politicians have been bought off by Zionist Jewish money, most of which was obtained by illegal means of some form.
In addition to its large arsenal of nuclear warheads, Israel is armed with America’s best military equipment, and receives training from its best fighter pilots. So the real question is this. Why should Israel be permitted to have nuclear weapons, while Iran is forbidden from protecting itself from hostile nations with a history of atrocious military aggression?
For decades Americans have been indoctrinated with continuous lies and inaccurate portrayals of Muslims by the Zionist-controlled media, Hollywood and educational system. This psychological warfare has been waged in order to build American support for military action against Islamic nations in the Middle East. And it has been a very effective strategy. Why fight wars when you can get other nations like the United States to fight your wars for you?
Zionist Jewish dominance of the media-entertainment complex is used for much more than promoting excessive consumption, spreading moral decay, and instigating military conflicts. Media crime bosses have also seized control over entire governments. Anyone who is unaware of this by now has missed the fine details surrounding the Rupert Murdoch phone-hacking scandal. Without a doubt, the same situation is going in the United States as well.
The sad reality is that most Americans have no idea what is going on outside of their media-entertainment bubble. They can tell you who won American Idol every year since inception. And they can tell you how many friends they have on Facebook. They can also discuss their favorite weekly episode of several “reality TV” shows with you.
Most Americans know what Paris Hilton, Kim Kardashian and Tiger Woods are up to, but they don’t know who really runs Washington. And they certainly don’t know what’s going on in Palestine, much less Iraq, Iran, Israel, Saudi Arabia, Egypt, Libya, Syria or Europe. Most Americans only know what the media-entertainment complex feeds them. This is specifically why Americans have held the title of the most ignorant people in the advanced world for decades.
As Zionist-controlled Washington reinvigorates its treasonous partnership with Israel, their obsession with Iran also serves to distract attention away from the depression going on in the U.S.
Although U.S. borders remain open, Zionist-controlled Washington constantly reminds Americans that they must pony up trillions of tax dollars to protect borders in the Middle East and defeat “terrorists” who are thousands of miles away.
But they never mention the fact that the (unnecessary) wars in Iraq and Afghanistan have increased the severity of the economic collapse in the U.S. Nor do they mention that future generations of Americans will be required to pay for these wars in the form of tax hikes, as well as huge cuts to Social Security, Medicaid and Medicare.
Perhaps the most disappointing aspect of this picture is that Americans have voted these criminal puppets into public office year after year, without realizing that the entire political establishment in the U.S. is controlled by Israel and the Jewish Mafia.
The truth is that the terrorists posing the greatest danger to the American people reside in Washington DC. This predicament will not change regardless who wins the next election because the entire political structure of the United States is corrupt to the core. The only way to fix it is to gut the entire system and start fresh.
Without a doubt, if the United States engages in military conflict with Iran, America’s Second Great Depression will become more severe. And the only winner of this catastrophe will be Israel.
As far as Washington is concerned, whatever Israel wants, Israel gets, even if it means the U.S. economy is positioned as the sacrificial lamb. Only the people of America can change this. If they do not wake up soon, they will have only themselves to blame for the end of America.
• This article was first published in Press TV.