"...the United States is slipping back into a double-dip recession, if not a second “great depression,” "

10 Reasons Why The “Economic Recovery” Is a Fraud

Paul Joseph Watson

Yesterday’s so-called “horror” show for the US economy with the release of new data illustrating how the economic “recovery” has all but ground to a halt was met with feigned astonishment and shock by the establishment media, and yet for the past two years the public has been continually deceived about the true state of the financial system.

All the hot air about an “economic recovery” has served to hide the fact that the United States is slipping back into a double-dip recession, if not a second “great depression,” as market strategist Peter Yastrow told CNBC yesterday.

1) In 2009, when the media claimed the economic “recovery” had begun, oil prices averaged $54 dollars a barrel. In the 24 months since, the cost has doubled. Americans are paying more and more to fill up at the pump with Goldman Sachs predicting that gas will hit $5 dollars a gallon by summer. This figure was already reached in Washington DC two months ago. Far from representing a “recovery” this is in fact another crippling expense that many Americans people simply cannot afford.

2) The housing market has shown no “recovery” whatsoever. The collapse in US house prices “is now greater than that suffered during the Great Depression.” Prices have plunged by 33 per cent since 2007. Home ownership is at its lowest level for 20 years.

3) The collapse in home ownership has flooded the rental market, leading to massive inflation “pushing up the cost of leases across the nation’s 38 million rented residences,” reports Bloomberg. Far from enjoying a “recovery,” US citizens lucky enough not to be stuck in underwater mortgages are instead paying through the nose for rental inflation that represents a huge chunk of the overall consumer price index.

4) Food price inflation is also savaging Americans who are being browbeaten by the word “recovery” while the cost of their groceries soars to unaffordable levels, forcing them to buy cheap unhealthy GMO crap or simply go hungry. Food prices in the US are climbing at the fastest rate since the 1970′s.

5) While Americans were being told to jump on the “recovery” bandwagon and spend more money to reinvigorate the economy, their median incomes were plummeting. Americans are getting poorer. According to the U.S. Census Bureau, median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009 and has been flat since, even as the cost of living continues to rise.

Read the rest here:
http://www.prisonplanet.com/10-reasons-why-the-economic-recovery-is-a-fraud.html