Debt-fueled growth in the US economy based on misleading data, unsustainable model revealed.

From Investing.com: 2024-10-04 09:26:00

The illusion of a “strong economy” is based on misleading data from the BLS establishment survey, with a rise in low-paying Leisure & Hospitality sector jobs offsetting the decline in high-productivity goods-producing jobs. Migration of activity from the informal economy to the monetized economy has inflated employment and GDP figures. The rise in Federal debt compared to GDP growth demonstrates an unsustainable economic model, unlike the steady growth and debt levels seen in the 1950s-1970s heyday. The current economy is artificially propped up by cheap debt, showing the fallacy of spending and borrowing as a path to prosperity.



Read more at Investing.com: Is the Debt-Fueled Growth Sustainable for the US Economy?