Throughout the West, politicians from Australia via London and Berlin to Washington and Beijing are determined to conceal the truth. The latest data prove, however, that there is no alternative to disaster….and the markets have this well and truly sussed.
I’m indebted to St Andrews investments for supplying most of the information laid out below. As a body of data, it represents what one might call A Bonfire of The Inaccuracies, blowing apart forever the bollocks out out by the Obama White House since October 2011 about US ‘recovery’.
These are the key headlines:
* The US labour market participation rate dropped to 63.2% in July, the lowest level since the late 1970s. The participation rate for men is at an all-time low. The unemployment rate has been falling, but chiefly because so many people are giving up hope and dropping off the rolls. (You read it…
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