Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.
The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered its pre-2001 peak.
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The worst part of the decline is yet to come. Bank failures and home foreclosures are yet to peak. The commercial real estate bust is yet to hit. The dollar crisis is building.
When it hits, interest rates will rise dramatically as the US struggles to finance its massive budget and trade deficits while the rest of the world tries to escape a depreciating dollar.
Since the spring of this year, the value of the US dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14% against the dollar. Every hard currency from the Canadian dollar to the Euro and UK pound has risen at least 13 % against the US dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25% against the almighty US dollar. Even the Russian ruble has risen 13% against the US dollar.
What sort of recovery is it when the safest investment is to bet against the US dollar?
LINK HERE
A $4 billion bailout for the Postal Service?
LINK HERE
Three months from now in the heat of holiday shopping it will be you, the checker and the atm. No other people. Just an echo.
ReplyDeleteYes 11:20 thats what I am waiting for, as I am going to buy at least a 54 to 60 inch LCD television, (have a 54 inch HD now but using those 3 high electrical useage lights to shine on the screen), and I expect there will be some good bargains in high end electronics etc (finally Santa is going to get what he wants), because I pay cash and no debt,,,,,been waiting for this.
ReplyDelete12:31 - Yes I plan on doing the same. Not that I am aspiring to be a worthless consumer :) Go to the smaller outlet stores. They will be selling below cost to pay their rent and employees while holding on by their fingernails. Of course only purchase such things after you have your ducks in a row with emergency foods, etc.
ReplyDeleteAnyone need a good deal on a almost new car?
ReplyDeleteJust wait until all the suckers that bought during the C4C scam can't make the payments...have heard reports that as much as 60% will be repoed, this will only add more pressure to the used car market when folks buy these repos, already lots of good deals in my area(midwest)
If ya couldn't afford it then ya shouldn't have bought it now, SUCKERS
Meantime, I'm having the best job in the world.
ReplyDeleteI've printed money since forever.
C4C - turn in your running car for a load of debt. Brilliant.
ReplyDeleteWho cares it is a lie or not, as long as 90% of Americans have a job. I will definetly buy and use up all the limits on my credit card and not pay a cent back as there are a lot of fools out there who will save their money and pay for me....
ReplyDeleteend the fed
ReplyDeleteend the fraud
infowars com
henrymakow com
jesus-is-savior com
wake up END THE FED END THE FRAUD
stop the NEW WORLD ORDER