The three biggest lies about the economy: Commentary: The truth about jobs, the market and U.S. socialism
“Most people have no idea what’s really going on in the economy. They’re living on spin, myths and downright lies. And if we don’t know the facts, how can we make intelligent decisions? Here are the three biggest economic myths — the things everything thinks they know about the economy that just ain’t so.”
Plus, and I’m not making this up, Smithers himself calculates from the Fed’s latest Flow of Funds report that corporate profit margins rocketed to 36% in the first quarter. Since records began in 1947 they have never been this high. The highest they got under Ronald Reagan was 30%.
Mr. Burns must be a happy man indeed.