Sheldon Filger-blogger for GlobalEconomicCrisis.com

The Labor Department released its jobs reports for December 2020. It is dismal yet not surprising. In the past month the U.S. shed 140,00 jobs. This is the first monthly contraction  in  employment numbers  since April 2020, and the destruction of millions of jobs in the early stages of the Covid-19  pandemic. Though vaccines are slowly being distributed in the United States, having been developed in record time, the nation is currently experiencing the most severe spread of coronavirus, with states responding with further lockdowns and restrictions on economic activity. This portends to further job losses as the Biden administration takes over the White House in a matter of days.

It is not only the Covid-19 contagion that is damaging  the American economy. The risk assessment consultancy Eurasia Group lists political division in the United States as the number one global risk, ahead of the Covid pandemic. As if on cue, 48 hours after the release of Eurasia Group’s, report  on top global risks, riots erupted within  the Capitol building in Washington DC.  The growing political stratification within American society, combined with the continuing damaging impact of Covid on economic  activity, points to a very negative economic outlook for the United States and inevitably for the entire global economy.

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Data released by the U.S. Commerce Department reveals that GDP growth in the United States contracted to an almost flat 0.2 percent in Q1 of 2015. This is virtually stall speed, and a sharp contrast to last summer, when officials proclaimed that America’s economy was experiencing sustained high GDP growth.

Typically, the policymakers and government officials will come up with a multitude of explanations for this poor measure of the American economy. No matter the spin, however, this is bad economic news, which surprised the most somber predictions of the experts.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

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The U.S. Commerce Department’s Bureau of Economic Analysis  has released its initial figures for the final quarter of 2014; GDP grew by 2.6 percent, a disappointing showing after the Q3 results supposedly showed 5 percent GDP growth. Several observers were skeptical of the 5 percent number for Q3, which was the basis for the Obama administration proclaiming victory and the return of economic prosperity in the United States.  Even if the Q3 number was correct,  overall GDP growth in the U.S. economy, based on official figures, was 2.4 percent for all of 2014.

While the official GDP growth figures for 2014 indicate the fastest level of economic growth in the U.S. since the global economic and financial crisis arose in 2008, it is still a very weak number after six years of a supposed recovery, and after trillions of dollars of deficit spending and vast monetary easing by the Federal Reserve in a frantic effort to stimulate the American economy. And now, Europe and even China are facing a slowdown, and in the case of the Eurozone, probable recession, likely to be exacerbated by the looming conflict with Greece over the terms of that nation’s financial bailout.

The U.S. is not immune to what is happening elsewhere in an era of interconnected economics. The lackluster growth figures for Q4 is a clear sign of that.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

CLICK ON IMAGE TO VIEW VIDEO Hillary Clinton Nude