Investors have expressed confusion recently because parts of the economy are clearly collapsed, but restaurants remain packed in many areas. John Williams clears up the confusion by demonstrating that real GDP remains collapsed, and that the hype from Wall Street about a recovery is a lie. Williams, who founded ShadowStats, also illustrates, in reality, how the consumer remains “crushed.” Here is what Williams had to say about the situation: “Broad U.S. business activity remains far from being recovered, despite the ongoing GDP-reporting nonsense that shows inflation-adjusted economic activity above the peak levels that preceded the 2007 recession.”
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