Since April 2008 the National Debt has gone up by $7.3 trillion, a 75% increase in five years. The Federal Reserve balance sheet was $865 billion in April 2008. Today it is $3.356 trillion. That is a $2.5 trillion increase. Both the National debt and Bennie’s balance sheet go up by over $3 billion per day. This is called austerity by Krugman. After all the Keynesian stimulus, QE 1, 2, 3, and 4, Wall Street fraud, a fake housing recovery, and massive stock market rally to enrich the 1%, there are still less people employed than there were in April 2008. This is the reality the oligarchs don’t want you to know. They want you to focus on your Facebook page, Twitter followers, the latest episode of the Kardashians, or your favorite sports team. They aren’t done pillaging.
The following chart provides data on employment. Tim Wallace provided the chart and commented:
In our current malaise, we have been at this 5 years and employment is still 2.2 million people below the employment number in April 2008. Moreover, part-time employment is up about 2 million workers. Thus, full-time employment is 4 million below the 2008 number, 5 years ago.