The ‘False Economy’

Anyone want to know what is going wrong? Start by reading this.


From the New York Sun

With Donald Trump’s use over Labor Day of the phrase the “false economy” we finally have a candidate who is getting to the bottom of the so-called Obama recovery. On the one hand the President’s approval ratings are above 50%. On the other hand, vast majorities think the country is moving in the wrong direction. Official unemployment is below 5%, but because the job participation rate is at its lowest point in decades. The government has racked up more debt than all previous administrations combined. Yet it has eked out growth of less than 2%.

To millions of Americans this is just unreal — and Mr. Trump, in the most important and even radical feature of his demarche, lays the blame at the clay feet of the Federal Reserve. The GOP nominee, speaking to newspapermen on his campaign plane, accused the Fed, as Reuters paraphrased…

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