How Can A Nation Get Rich By Spending?

How Can A Nation Get Rich By Spending? - - at www.moneyweek.com - the best of the international financial media

It is nice to step back from the world of mainstream media, where I have been making the case I made in my book, The Bull Hunter. The mainstream media is reluctant to embrace the ideas I've outlined, or at least to follow them through to their logical conclusion. And what is the logical conclusion, you might ask?

America created over 207,000 jobs last month, according to the Labor Department. But when you look closer, 50,000 of those jobs were in the retail business. Most commentators viewed this with anxiety, but for the wrong reason. The conventional wisdom is that the report indicates inflationary pressures and that the Fed will have to keep raising rates. In reality, the bigger concern is that American jobs are being created, on average, at lower average hourly wages.

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