The flag should be at half mast for the plight of the fading middle class.
In a statement of the obvious, U.S. Treasury Secretary Jacob J. Lew said today at the G7 Finance Ministers and Central Bank Governors meeting in Japan that although “the U.S. economy continues to strengthen, the global recovery remains uneven and risks have become more pronounced since last year.”
Lew claimed , “we need the balanced use of all the policy tools – fiscal policy, monetary policy and structural reforms – to address weak demand, boost employment, and tackle our common long-term challenge of aging populations.
Going back the first Bush Administration and through Obama’s, the U.S. ruling class has failed dismally at managing all three.
There has been no financial reform.
Printing money and giving it to banks post the 2008 crash has enriched Wall Street but not the U.S. working class.
Growth and job creation remain in the doldrums.
And the monetary policy by some of or alleged allies with deliberate devaluations has cost U.S. jobs.
Add in disastrous ‘free trade agreements’ that should really be called ‘Kill American Jobs agreements’ and there is little wonder that the two presumptive Presidential candidates have the highest negative ratings of any race in U.S. history.
