The unemployment rate in the U.S. may have hit a four year low. U.S. government sources are claiming that the initial claims for unemployment benefits have fallen by 5,000 applications to a seasonally adjusted figure of 348,000; but this doesn’t mean that customers have become more open to spending more money. Yet it is good to hear that employers in the U.S. have created 245,000 jobs per month between December 2011 and February 2012. On the face of it, at least for the short-term, these figures suggest that growth is returning to the U.S. market.
However, Ziad K Abdelnour author of Economic Warfare: Secrets of Wealth Creation In The Age Of Welfare Politics thinks that, in the long term, the policies of the U.S. government and the U.S. Federal Reserve are going to cause more havoc. In Abdelnour’s view, President Obama’s administration is overly focused on job creation as it attempts to “buy” the country out of recession with increased budget deficits. Abdelnour believes that this is eventually going to damage the U.S. economy because the U.S. government is not concerned with empowering individuals to create growth.