Investigative reporter Michael Snyder says, “The only way they got the unemployment rate to go down is pretending that millions, upon millions, upon millions of Americans don’t want to work anymore. . . .If the labor force participation rate was exactly the same as it was when Obama was first elected, the unemployment rate would be 11%, and everybody would talking about an economic depression.” Snyder warns, “We’ve seen absolutely no employment recovery; and, meanwhile, the next great wave of economic crisis is rapidly approaching.”
Snyder contends, “What the Federal Reserve is doing is utter insanity. . . . The rest of the world is starting to lose faith in our financial system and the U.S. dollar, and this is the most important consequence of QE (money printing). They actually use more dollars outside the U.S. than inside the U.S. The economic collapse is happening right now, and it is a steady decline punctuated by moments of crisis like we saw back in 2008.”
Join Greg Hunter as he goes One-on-One with Michael Snyder of TheEconomicCollapseBlog.