Search This Blog

Monday, May 30, 2011

Another droplet of truth, in ocean of lies

A&G has stated repeatedly there is No recovery.  Some find that pronouncement a bit pessimistic.  Nonetheless, it is truthful.     

A&G has also stated that it took about 3 years from the start of the 1929 Market Crash for the print media of the time to cut back on their rosy outlook stories and start reporting the Great Depression in an honest, sincere way.   This October will make 3 years since Lehman Bros fell, the $700 Billion initial bailout and all that other good stuff which downward spiraled this economy under the guise of 'saving' it..

And A&G stated in previous postings that honest reporting of the Great Recession is beginning, right now in little droplets, but in time the 'flood' of honest news reporting Will come.  The economic malaise will just be too obvious to too many for the media to continue glossing over for their own political and financial motivations.

So here's another 'droplet' of honesty, this time from an unexpected source-  CNBC, one of the biggest "Rah-Rah Profit!" market and corporation cheerleaders you will find.  The piece written Friday, May 27th is entitled, 'Where's the Recovery? Hopes For Economic Rebound Fade' ...  Some highlights (in blue font):

"At a time when things were supposed to be getting better they are instead turning worse: Commodity prices are eating into consumer spending, historically low interest rates haven't done a thing to help housing, and, most worrisome, the job market rebound has been stopped in its tracks... Economists busy ratcheting down their forecasts for gross domestic product, unemployment and other metrics still think growth will resume later in the year. But GDP gains, both in the US and around the world, are likely to be considerably slower than anticipated."

~  Interesting-- Economists were Wrong when they didn't predict the recession to begin in 2007.  And they were Wrong when they couldn't predict a Genuine recovery..  And the keep having to alter their findings... and Yet, economists' predictions are supposed to be trusted and given validity?   Think about that- if people who are repeatedly wrong, keep making predictions, isn't there a certain point you just laugh them off as Ignorant Fools?

"Government data released Friday showed consumer spending remains weak, pressured by food and gas prices that Bernanke has famously described as "transitory." That has come on the heels of a miserable week for economic news in manufacturing and jobs. At the same time, the Fed's zero interest rate policies and quantitative easing programs may have spurred the stock market to a stunning recovery but have done virtually nothing for housing, which has become the elephant in the recovery's living room."

~  Of course the market has recovered but there's nothing 'stunning' about it.  If the Fed pumped Trillions and Trillions of dollars into the housing market, it would be recovered too, albeit it as artificially as the market is.  By the way, housing prices are expected to fall another 5% between now and the end of 2011, with any potential rebound occurring at earliest, in the second half of 2012.  In other words, a Full Year from now..

"The good news, and what likely will prevent a technical double-dip, is that corporate America is faring well. Aggressive cost-cutting through layoffs and production efficiency has resulted in healthy bottom lines..."

~ Aww, poo...  thought we could avoid what I call the "bullshit 'positive".. the little nugget of false optimism that permeates every financial news story...  The 'good news' is that we'll avoid a double-dip...  technically.  We won't really avoid a Real one.. just a technical one.  

And how will we avoid this double-dip?  Who will save the day?   Why, Corporations will--  thank Goodness for their 'aggressive cost-cutting', aggressive firing, and overworking their skeleton staffs made up of a combination of cowardly workers afraid of losing their jobs, and temps who you don't have to give any benefits or job security to. Corporate bottom lines are "healthy' thanks to the hoarding of cash which they refuse to use to hire more workers, and that's really good for us all, isn't it?

"As such, a year that began with great promise could end with recovery hopes that will have to be delayed a while."

The last sentence should have been written as such if it was honest--

' As such, a year that began with the illusions of great promise will likely end with recovery hopes and fantasies that will have to be delayed quite a while '

So how will you know if the economy is truly, sincerely recovery?  Its no different than knowing it the skies are sunny and cloudless, or if a particular meal eaten tastes delicious..  You just KNOW it and don't need others to tell it to you.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.