Most Americans Are Not Feeling an Economic Recovery

10/23/2009, by Proloy Bhatta

HIGHLIGHTS

• 82% said the recession was not over.
• Gerald Celente, of Trends Research, says the economic recovery does not exist.
• Profits on Wall Street does not always translate to a good economy for the average American.

ABC News asked this question to Americans.

"Many economists say that using the standards they apply, the recession probably is over. Thinking about your own experience of economic conditions, would you say that from your point of view the recession is over, or not over?"

82% said that the recession was not over.

The health of the stock market factors into the perceived health of the economy far too much.

First, profits on Wall Street are better obtained when factories are closed in the US and opened up overseas. A lower cost of doing business helps the stocks but not the average American.

Second, stocks benefit from inflation. So inflation is in the government's interest. But for the average American, inflation only causes a decrease in one's standard of living when the prices of goods and services they typically consume go up.

Gerald Celente of the Trends Research Institute says that the stock market has been "papered". Meaning the government has been printing money to prop up the stock market and that the jump in stock values were not the result of true profits or an increase in productivity.

Here is a good YouTube interview of Celente.