Instead of the 978,000 new jobs created in April that economis | Save America 🇺🇸

Instead of the 978,000 new jobs created in April that economists expected, nonfarm payroll increased by just 266,000. On top of that, the Labor Department revised the March number down from 916,000 to 770,000. The unemployment rate ticked up to 6.1%.
As Peter Schiff put it in his podcast, you don’t need a job to spend printed money handed out by the government.
In a normal, healthy economy, people have to work to earn money to spend. But that’s not true today. You can just stay at home and the government will send you money.
When you have an economy built on spending printed money, that type of money doesn’t require a lot of actual work.”
Of course, somebody has to produce. But as we’ve been reporting, that’s happening abroad. The massive trade deficit in goods reveals exactly what’s happening in the US economy. Americans are spending money to buy things being imported from overseas.
That’s where all the jobs are being added. They’re being added in all the countries that are making all the stuff that we’re buying with all the money that the Fed is printing.”
Peter said the problem is this whole thing is temporary.
via zerohedge.com

It really can't go on forever. Therefore, under such conditions, effective government action is needed to have a macro effect on the economy. But the rich get richer, and the poor get poorer. Money is distributed to the, ordinary people spend it, and it stays in the hands of the rich. And the poor will pay for this because of high inflation.

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