CNN, Bloomberg, and others are carrying a story that the U.S. will be out of the “recession” by the end of this year. They sited a panel of economists responding to a survey indicating the U.S. is heading toward recovery. They didn’t say what indicated this, they gave no information as to how the hell they think this country is going to be doing so much better in 3-6 months. They predict a massive drop in the GDP, while still seeing a “modest rebound” later this year? How, by printing more fraudulent money? That leads us right back to my previous post about the Weimar republic. We can’t recover without an increased productive capacity; we have to produce goods and services to “make” money! If you think the recession fairy is coming to make the economy all better, then have I got some ocean front property for you, right off the coast of the Grand Canyon, it will be great, I promise!
I like my information to be quantifiable, I don’t buy weak news blips that say the economy is going to be “R Great soon, because we said so.” I want to know the why/how, and “three out of four survey respondents expect the recession will end by the third quarter of 2009″, just isn’t enough to sell me on their good news propaganda.
I wish the economy was on track for improvement, I wish there were signs that this depression will be over soon, but there isn’t and it’s not. Take the international forecaster newsletter for example, it gives great detail as to the who, what, when, where, and why’s of what is happening in the economy, it’s good information. You can subscribe to that news letter here: http://www.theinternationalforecaster.com/
Another person that will give you solid information on the economy is Peter Schiff, his website is: http://www.europac.net/. Peter also does a vlog on youtube that is very informative, here: http://www.youtube.com/user/PeterSchiffChannel.
You can listen to Ron Paul speak about the current state of the economy: http://www.youtube.com/watch?v=vK4gUspcMcs - this aired today on CNN.
Point is, don’t just take the mainstream media’s news as gospel, research it. Especially if the piece is vague or leaves you asking questions.
