U.S. ECONOMIC "DEATH SPIRAL" CONTINUES, WARNS EXPERT|
OBAMANOMICS LEADING BACK INTO RECESSION, NOT RECOVERY
6.25.14 - The Commerce Department said on Wednesday gross domestic product fell at a 2.9 percent annual rate, the economy's worst performance in five years, instead of the 1 percent pace it had reported last month.
"Our economy's growth has again fallen below 'stall speed,'" says Wayne Allyn Root, a bestselling author and monetary expert frequently interviewed by prominent political and business journalists.
"This means not only that any recovery has stalled, but also that we might be trapped in an economic 'death spiral' and revealing the nasty truth that the Great Recession of 2009 never really ended," says Root, whose newest book, The Murder of the Middle Class, will be released by Regnery on July 14, 2014.
"Our spendaholic, taxaholic politicians are choking the life out of this economy," says Root. "They are frightening would-be investors with uncertainty about future taxes, regulations and penalties. And they are poisoning the environment needed to produce jobs, prosperity and optimism."
STOCK MARKET MIRAGE
"The Federal Reserve is practicing what economists call 'financial repression,' deliberately holding the rate of interest paid for bank accounts below the rate of inflation," says Root. "This causes savers to lose the value of their money and feel forced to make riskier investments instead."
"This, plus fear of 2014 tax increases, has led millions to withdraw their savings and to flee from banks and bonds. Many are being stampeded into investing their cash in stocks, causing a dangerous stock market bubble," says Root.
"The new GDP data show that what looks like an improving economy is instead a mirage," says Root.
"Federal, state and local government spending now accounts for 38.45 percent of America's Gross Domestic Product (GDP), and government spending and Federal Reserve stimulus money have been increasing," says Root.
"This means that soaring taxes, regulatory costs and fear are shrinking the private sector, the sector that actually produces the value that politicians are eager to grab and redistribute for their own benefit."
"The grim reality is that real-world inflation is close to 7 percent, and this is devouring our economy's 1-2 percent growth. Our real growth rate is closer to minus 5 percent," says Root, "which means that we have never gotten out of the Great Recession that began more than five years ago."
What benchmarks can we use to determine whether the new government numbers are trustworthy?
"In today's economy – with housing still mired, debt rising, consumer confidence sinking, real unemployment stuck at European welfare-state levels, and government expanding – any report that claims the economy is growing faster than 1.6 percent should be taken with a very large grain of salt." says Root.
"Today's clear economic trend is, at best, for a slow and slowing economy that could be mired for a decade or more as families and the government try to deleverage from stratospheric debt."
"The only economic benchmark that can be trusted today is physical gold, which I refer to as 'coined freedom' in a new special report and dvd." (more at www.coinedfreedom.com )
For a provocative interview with Wayne Allyn Root contact Sandy Frazier by email or call 516-735-5468.
The Minimum Wage Trojan Donkey
Author Exposes Hidden Government Taxes In Raising U.S. Minimum Wage
6.17.14 - On Monday the International Monetary Fund (IMF) joined labor unions, big government progressives and other pro-wealth-redistributionists nudging the U.S. government to mandate U.S. minimum wage rise from $7.25 to $10 an hour.
The IMF downgraded U.S. GDP growth by 40% this year to 2% this year, yet they still view increasing the minimum wage as part of the solution.
But bestselling author and conservative spokesman Wayne Allyn Root believes pushing wages up is part of the problem, not the solution.
"Like most progressive ideas, it sounds appealing to the public, which is struggling to stay afloat in today's stagflationary economy, but in reality it's a farce, a giant Trojan donkey," says Root.
"The truth is, forcing millions of small, medium and large U.S. businesses to artificially raise wages will end up costing everyone more money - but it will especially hurt lower and middle income families by raising consumer prices via the 'hidden' tax of inflation - which is anti-growth, anti-economic and un-American," warns Root.
"Politicians love playing Robin Hood, but lack real concern for America's poor. Instead they want wealth redistribution costs to be passed onto business owners and customers as an 'invisible' tax."
"Free markets thrive on competition, not regulation," explains Root, "and raising the minimum wage
is a proven formula to further crush the U.S. middle class, which is the true goal of the Obama Administration, as explained in my new book, THE MURDER OF THE MIDDLE CLASS (July 2014, Regnery).
In Root's new Timeless Truth About Money DVD and Coined Freedom Special Report he explain why our money system and economy will either be "the builder or the destroyer of American civilization."
"History confirms the rise and fall of nations and civilizations is always linked to the collapse of their money systems. All civilizations start out strong, but after about 200 years on average, one by one they destabilized and destroyed their culture, economy and money system with unsustainable debt and rampant taxation," Root says in The Timeless Truth About Money.
Wayne reminds Americans of the strong economic warnings from our Founding Fathers about money and banking, such as Benjamin Franklin and John Adams:
"If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." -Benjamin Franklin
"All the perplexities, confusion and distress in America arise not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." -John Adams
Root says today our nation is caught in an economic death spiral - unless 'We the People' can find and elect true statesmen willing to reverse these ominous economic trends:
1) Dependency: More Americans receive government entitlements than work full-time!
2) Joblessness: Over 100 million working-age Americans are not working, the highest in history!
3) Income Stagnation: The typical American family earns less today than they did back in 1989!
4) A Weak Dollar: The U.S. Dollar's in a 40-year downtrend, fast becoming an 'IOU nothing'!
5) Global Uncertainty: Rising geopolitical crises, wild-cards and oil-wars in the Mid-East!
Root says the first key to family survival is to begin moving yourself onto a "personal" gold standard.
To book a media interview with Wayne Allyn Root please contact by email Sandy Frazier or call 516-735-5468.
Wayne is offering audiences a free copy of The Truth About Money DVD and Coined Freedom Special Report
online at www.coinedfreedom.com.