Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.
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Voices From The 2017 International Students For Liberty Conference
With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.
ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.
BLS: 4.05% Shadow Stats: 21.5%
May Year-to-Year: 2.87% (CPI-U*) Shadow Stats: 9.9%
*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]