Schiff Vs. Henwood on Economic Crisis
True Productivity (in defense of Schiff) is shown below from the John Williams, Shadow Government Statistics (SGS) website. Paul Jay and The Real News (TRN) unfortunately fell for the the old "Common Knowledge" mindless sleeple mistake of buying into Henwood's Keynesian premise that promotes the false idea that productivity is the highest it's been in history, so we just need to grease the gears of engine with just a few hundred billion more... and velocity will certainly return. This complete and utter bullshit, and if you look at how the government BLS produces and presents this propaganda you may be reminded of the chocolate rations report in Orwell's 1984.
Posted by Peter Piper at 10/20/2010 09:44:00 AM