The Economy Has Fundamentally Changed In The 21st Century…And Not For The Better

Posted on May 15, 2019 7:38 am
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URL https://www.zerohedge.com/news/2019-05-15/economy-has-fundamentally-changed-21st-centuryand-not-better 

Authored by Charles Hugh Smith via OfTwoMinds blog,

The net result is we have an economy that’s supposedly expanding smartly while our well-being and financial security are collapsing.

Gross Domestic Product (GDP) and other metrics of economic activity don’t measure either broad-based prosperity or well-being. Elites skimming financialization profits by expanding corporate debt and issuing more loans to commoners while spending more on their lifestyles boosts GDP quite nicely while the security and well-being of the bottom 90% plummets.

Under the hood of “recovery” and a higher GDP, life has gotten harder and more insecure for the bottom 90%. The key is

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