We have enough data, including the November figures, to conclude that the U.S. economy continues to stagnate, that price inflation is far from being under control, and, more significantly, that Keynesian policies do not produce the effects its promoters believe they do.
Adjusted for inflation, November’s retail sales are down 2 percent compared to one year ago. Since March 2021, electronic and appliance store sales have shrunk by 21.5 percent, and various ports around the country have seen their loaded imports drop significantly; Los Angeles is down by 24 percent compared to November of last year.
Government politicians have been boasting about a sturdy recovery since
