As the Federal Reserve last week debated raising interest rates, financial expert and nationally syndicated radio and television host Dan Celia has one important observation: “Smoke and mirrors” analytics are masking the real problems of the economy.
Celia, who leads Financial Issues Stewardship Ministries (FISM, www.financialissues.org), recently wrote an op-ed on the topic for CNS News, where he stated that the economy is every bit as pathetic today as it has been for the past decade.
“The Federal Reserve’s dawdling continues to reinforce the fact that the 4.9 percent unemployment rate is nothing more than a political stunt to try to give our current administration some sort of positive legacy,” Celia says. “In addition, it shows how the federal government uses ‘smoke and mirrors’ analytics as it continues to attempt to convince everyone that the economy is getting stronger.
“But there’s a bigger problem besides the fact that the Federal Reserve has been persuading the public and Congress that it has acted wisely,” he continues. “It has also convinced economists, financial analysts and news media around the world that our country has a thriving economy with full employment.”
View a recent ‘Financial Issues’ program on the subject…
“It is important to point out that, yes, we have full employment—if we lived in 1978,” Celia adds. “It’s also vital to remind everyone that it is literally impossible to have full employment without seeing pressure on the workforce and increases in wages. None of this is the case.
“How can we possibly have full employment with so many regions of the U.S. seeing a contraction in manufacturing, retail sales stuck in an ice age, and a decline in productivity, business investment and business revenues, all while poverty is increasing? I suppose some would argue that productivity is down because everyone is fat and happy, knowing they can’t be replaced because there are no workers waiting in the wings.”
Celia addresses financial headlines and takes calls from around the country on his daily radio and television program, “Financial Issues,” which airs on more than 600 radio stations, the NRB network and BizTV. It is also live-streamed on the Financial Issues with Dan Celia YouTube Channel.
To interview Dan Celia of Financial Issues Stewardship Ministries, contact Jen Retallick, 610-584-1096, ext. 100, Media@HamiltonStrategies.com, or Deborah Hamilton at 215-815-7716 or 610-584-1096, ext. 102.