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Alternative Visions – Inflation Myths & April Jobs Report

Dr. Rasmus addresses the rising chorus from conservative politicians, media, and ‘paid for’ economists that the Fiscal stimulus bills being proposed ($1.8T American Rescue Plan, $2.2T American (Infrastructure) Jobs Plan, and $1T American Families Plan) will soon overheat the US economy and cause rapid rise in inflation. What are the actual forces driving/not driving prices today in 2021? What’s wrong with the way the US government estimates inflation? Why does it underestimate it in order to overestimate real GDP growth? Why are the government’s methodology for estimating inflation kept a ‘secret’ from the public?  Dr. Rasmus also comments on today’s Labor Dept. Jobs Report that missed forecasts of jobs created in April by more than 1 million. What’s going on? And what about that phony argument that workers are getting too much unemployment benefits, causing them to refuse to return to work at poverty level minimum wages ($7.25/hr. or $2.13/hr. for restaurant workers). Check out Dr. Rasmus’s latest print publication, “US 1st Quarter GDP: Recovery or Just Another Rebound’, at http://jackrasmus.com.

 

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