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News Link • General Opinion

Will Poverty, Disease And War Lead To 3 Billion Fewer People?

• By Egon von Greyerz

Of these, 35 million are dubbed ALICE which stands for Asset Limited, Income Constrained, Employed with a further 16 million households living in poverty.

It is absolutely remarkable that in the world's biggest and "richest" country, just under 50% of the households are struggling to afford a basic middle class life and that 50 million people live in poverty. And this is after decades of prosperity and economic growth. What it proves is that the average person in the US is seeing no prosperity at all. All the official figures of employment, production, growth, GDP etc are just humbug. They are fake data which is completely misleading and paints a totally false picture. The official unemployment figure is 4% but the real figure is 22%. There are 95 million Americans capable of working who are not in the labour force.

The US economy consists of a small minority which has benefitted dramatically from the credit expansion and money printing. And then there is the big majority on low income with enormous debts who struggle to make interest payments on debts that they can never repay. Real median hourly wages have not increased in the US for 50 years!

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