"Since the supposed end of this economic recession in late 2009, the number of people added to the food stamp rolls has increased by 8 million. The annual cost for this program will reach $70 billion this year, up from $33 billion in 2007. If the economy is recovering and people are voluntarily leaving the workforce, why have the number of people on food stamps increased by 22% since the official start of the recovery? Why does the number of people going on food stamps go up every month? The answer is that there has been no economic recovery for the average American. Wall Street bankers and the ultra-wealthy elite are the only people who have experienced a recovery."
gleanings from Austrian economics, and ideas, reflections, questions on the state of Liberty in the world - market news and views, from an Austrian perspective - current affairs, mainly from the USA and India, from a libertarian perspective - links to libertarian writings and scholars, sometimes libertarian commentary on other writings... that is what you'll find here
Tuesday, April 5, 2011
US Hubris and the Destruction of the Middle Class
America's economic system, which is based upon debt and Federal Reserve-generated inflation, benefits a chosen few while destroying the middle class.
Labels:
liberal economics,
Liberty
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