Apparently the real economy, the one of the American people is different from what the Marxist/Progressives would like us to believe. Paul Singer’s Elliott Management Corp. said optimism on U.S. growth is misguided as economic data understate inflation and overstate growth, and central bank policies of the past six years aren’t sustainable.
“We do not think this optimism is warranted, and we think a lot of the data is cooked or misleading,” Elliott wrote. “A good deal of the economic and jobs growth since the crisis has been fake growth, with very little chance of being self-reinforcing and sustainable.”
The economy grew 2.3 percent in the year ended in September, compared with an average 2.9 percent advance in the four years before the past recession began, according to figures from the Commerce Department. It’s forecast to grow 2.2 percent this year and 3 percent in 2015, according to the median estimate of economists surveyed by Bloomberg last month.
It would appear that Americans understand the real state of the economy much better than does Obama and his Marxist/Progressive friends. But then it is the American that has suffered from a real decline in income and an even greater decline in spendable income after you take into consideration the additional taxes, fees, health care costs, rise in fuel costs, rise in food costs, and all those economic issues that affect the American including full time employment.
It appears that this will play out in the election results tonight.