on 3-March-2012 by AndrewMcCleese in News and Commentary, Comments (0)
Phony economics look neat, but are an implosion in the making. The economy by a variety of measures is worse now than at any time in the last 21 months.
“GDP growth, year-over-year, peaked in the third quarter of 2010 at 3.5%. By the second quarter of 2011, it had fallen to 1.5% and it’s basically flat-lined from there. It has not reaccelerated. It’s a similar pattern for personal income growth and it’s a similar pattern for the broad measures of sales growth. As of January, when you look at industrial production growth, year-over-year, it has now declined to a 22-month low. Taking all of these key aggregate measures of output, jobs, income, and sales, putting it into our Coincident Index, the growth rate has now dropped to a 21-month low. The economy is weaker today than it has been in 21 months.”
With inflation as high as it is, with monetization in full effect, the currency war has been officially declared. There is no real solution that does not include sound money, not inflated Fed Notes.
Rehashing unemployment lies. 30 million Americans out of work. Labor force participation at an all time low. But hell yeah!!!! McDonalds is hiring and Americans are going back to “work”!
Makes sense to me. Before the 2002-2003 invasion of the Middle East crude was what, $30 a barrel? Perhaps there is a correlation between warmongering and the price of oil? Former Reagan budget director says stop banging war drums to bring down the price of oil.
Things are so great. Look at this graph, it prove it since the trend is upward, quickly! Wait, whoops… that is a graph of the number of Americans on food stamps. 46.5 million Americans on food stamps, a 384,000 single month jump to an all time high. 14.3 million of these Americans have joined the food stamp rolls since Obama took office.