So, the articel is basically shining a light on the apparent contradiction between the rosy economic reports touted by experts and the not-so-great reality that many Americans are feeling. The writer, Tyler Durden, suggests that the government might be playing a bit of a smoke-and-mirrors game with the economy as we approach the 2024 general election.
The core argument is that the government is juicing up GDP and job figures not by making up numbers, but by engaging in hefty spending and hiring. Unlike the private sector, which has to prove its worth by creating value, the government can spend tax dollars and create jobs financed by deficits without the same level of accountability.
Durden echoes the sentiment that there's a disconnect between the positive economic indicators, like GDP growth and employment rates, and the actual well-being of the people. The crux of the matter is that these indicators don't make a clear distinction between private economic activity and governmnet spending.
According to Daniel Lacalle, who's mentioned in the article, the private sector of the US economy is supposedly already in a recession. However, the government's high spending levels are artificially propping up the GDP, making it seem like everything's hunky-dory. The writer suggests that the recent positive job reports might be disproportionately influenced by government hires.
Durden draws parallels between the current situation and historical events, like World War II supposedly ending the Great Depression. The claim here is that, back then, the government spent and hired on such a massive scale that it masked the economic downturn and made things look better than they were.
The article concludes by arguing that a similar trick is happening today. The government supposedly printed trillions of dollars to hide the economic damage caused by COVID-19 lockdowns. Now, as the economy stumbles, the government is apparently once again going on a spending and hiring spree to maintain the illusion of a robust economy.
In a nutshell, the article suggests that while the economic data might look good on paper, there's an underlying issue, with the government's spending and hiring tactics masking the true state of the private sector and potentially setting the stage for a significant market correction.
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