Tuesday, 07 August 2012 07:22
'A prominent economic analyst says the US is in the grips of a second Great Depression, despite the Western media claims that the country’s economy is on the road to recovery.
“The media continues to compare economic data to that seen during the first Great Depression. And they insist that the United States avoided another depression as a result of the “triumphant” actions taken by the Federal Reserve and President [Barack] Obama,” Mike Stathis wrote in an article published on Press TV’s website.
He added that the main reason behind the move is to “undermine the full severity” of the current depression, the US is grappling with, as Washington always strives to “create an atmosphere of optimism” in order to boost the confidence of American consumers.'
Read more: US Economy Experiencing Second Great Depression: Analyst
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