How much faith should we really put in the Federal Reserve?
Gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4 percent of income before taxes. This was the highest estimated percentage of household income spent on gasoline in nearly three decades.
The economy contracted by .1% and the unemployment rate has risen by 1%, all in defiance of the official projections. Job creation numbers are 40,000 off what they were supposed to be. 159,000 jobs were added, but 169,000 workers left the labor force.
Nearly 89 million Americans aren’t working and labor force participation is at 63.6 percent. So who needs that jobs council anyway?
This is what happens when your Debt to GDP ratio is at 220% and your government’s economic plans consists of seizing land from farmers and handing it out to your cronies while trying to borrow even more money to keep the entire disastrous thing going.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That was a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.