I understand that it is pointless to reply to you, as you are a moron...but maybe some else will benefit. The quotes will be from the article GRUPS posted:
“Well, the idea that America is in the midst of a great recovery is pure fiction. It’s a lie. It’s a jobless recovery,” Wynn said. “Because recoveries are marked by the level of real employment. And if you count the people who have left the work force, real unemployment is 15 to 20 percent.”
No one has ever said we are in a "great recovery". Right off the bat Mr. Wynn is distorting the truth, or more bluntly, lying.
There is no such thing as "real" or "unreal" unemployment. There are 6 different measurements of unemployment released every month. These are same measurements that have been used for years/decades. Mr. Wynn is making political points, not economic ones.
is also rigged in such a way that it doesn’t accurately reflect what real Americans experience on a daily basis. According to the U.S. Bureau of Labor Statistics, the U.S. had -0.1 percent inflation for the 12 months ended in March 2015. Inflation doesn’t exist.
Wynn says that’s a sham.
“If you take real inflation, and you’ve got to count energy and food and all that stuff, real inflation is much higher than they say it is
There are also a number of CPI measurements. Mr. Wynn picks 1 the CPI-U ex food/energy to discuss. There is also a CPI-U that includes food and energy. So here again, Mr. Wynn is again distorting data to make a political point, not an economic one. In this case Mr. Wynn is really showing his agenda. Only someone completely detached from reality is going to complain today about energy prices as a portion of CPI-U. In case you don't understand this point (GRUPS won't), average price of a gallon of gas this time last year was a $1 per gallon higher than it is today.
So if you can follow along: Mr. Wynn is complaining that the govt inflation data is "a sham". He is basing his conclusion on one of the inflation reports that does not include gas prices and if that report did (which other sections of the CPI report actually do), then inflation would be "much higher than they say it is". Yet, in reality gas prices are about 30% cheaper today than they were 1 year ago.
BTW...if you really want to highlight how little Mr. Wynn actually understand macroeconomics, one only need to understand that there is no such this as "real" inflation. When economists speak of prices in terms of inflation, they refer to that item in "real" terms. In other words the price of gold in 1980 peaked around $800+. When we adjust for inflation, gold today would need to be in excess of $2300 per ounce to hold the same value as it did in 1980. So in "real" terms (adjusted for inflation), today's price of an ounce of gold is much cheaper than it was in 1980.
Mr. Wynn refers to "real" inflation. There is no such thing.
“It’s very difficult to explain to a normal working citizen the implications of what $18 trillion in debt means, and what it means when the Federal Reserve buys the U.S. Treasury bonds to finance our loss every month,” Wynn said. “People think that is some abstract conversation in Washington, uh, for pundits.
“In fact it impacts every one of my employees, critically, every day,” he said. “They notice when they sit down at the kitchen table, that after they pay the necessities, there just isn’t any money left.”
There is nothing about this quote that makes the least bit of sense.
The current amount of US debt has zero impact on how much money someone has after they pay their expenses.
The Federal Reserve stopped buying Treasury Bonds 7 months ago and began reducing their purchases in Dec 2013.
For Mr. Wynn's statement to be true, for the debt or Fed actions to impact the day to day finances of the American family, inflation and interest rates should have shot significantly higher. They haven't. In reality, interest rates on purchases are way down. The flip side is that savers are paid very low rates.
If Mr. Wynn was truly concerned about the amount of money his employees have at the end of the month, why doesn't he pay them more? Mr. Wynn is trying to make you believe it is the gov't's fault that his employees "don't have any money left".