thedailybell.com / By Staff Report / March 1, 2013
Incomes DROP MOST IN 20 YEARS … Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank Household purchases, Which account for about 70 percent of the economy, climbed 0.2 percent after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.2 percent advance. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007. - Drudge
Dominant Social Theme: How did this happen? Why does capitalism work?
Free-Market Analysis: Drudge today is carrying a troika of headlines on the decline and fall of the West.
- (U.S.) Incomes Drop Most in 20 Years
- Euro Zone Jobless Hits a Record
- Britain Slides Toward New Recession
Drudge runs his headlines in a clever fashion, often building a larger story simply by presenting several sides of a trend – what we might call a meme . In this case, the much-viewed news aggregator is making the point that the Western world is still on the way down.
Are you surprised, dear reader? We are not. We have regularly warned that a tiny power elite Intends to homogenize the world’s economies, apparently in order to implement global governance - and is reducing Western prosperity while raising up the wealth of the BRICs to do Sun
Obviously, this idea of “ directed history ”is not for everyone, yet examined maneuvering is easily generated via the central bank debasement strategies combined with fiscal manipulation and Increased regulatory burdens.
President Barack Obama has been especially supportive of this process, Whether on purpose or not. Under his watch taxes have been raised, debased the dollar, government healthcare and employment expanded dimished.