Breadwinner jobs have not come back

comment:

Bernanke has only re-inflated a bubble that will eventually burst.   The recovery is a mirage.

Published on Zero Hedge (http://www.zerohedge.com)

Home > David Stockman's Non-Recovery Part 1: Post-2009 Faux Prosperity

---

David Stockman's Non-Recovery Part 1: Post-2009 Faux Prosperity

By Tyler Durden

Created 06/17/2013 - 20:12

Few others are better equipped to comprehend both the insider's and outsider's perspective on what the government, the Fed, and the banks are doing in this so-called 'recovery' we are experiencing than David Stockman. Nowhere does he detail this better than Chapter 31 of his new book 'The Great Deformation' [1]. In this first part (of a four-part series), he explains just what happened after the US economy liquidated excess inventory and labor and hit its natural bottom in June 2009. Embarking upon a halting but wholly unnatural "recovery," doing nothing but igniting yet another round of rampant speculation in the risk asset classes. The precarious foundation of the Bernanke Bubble is starkly evident in the internal composition of the jobs numbers.

• Ben Bernanke
• BLS
• Bureau of Labor Statistics
• Gross Domestic Product
• Main Street
• Meltdown
• Nominal GDP
• None
• Personal Consumption
• Real estate
• Recession
• recovery

---

Source URL: http://www.zerohedge.com/news/2013-06-17/david-stockmans-non-recovery-part-1-post-2009-faux-prosperity

Links:
[1] http://www.amazon.com/The-Great-Deformation-Corruption-Capitalism/dp/1586489127