One of the toughest things to do is to analyze and work out what is the Big Picture. I can't do it, I don't know. I like to guess and try to work it out, but not being privy to the blueprint its all a big guess. All one can do is look at the clues which come in the form of actions by the government and its leaders.
Several months ago I wrote a big piece about the Swine Flu and how it was a metaphor. There are so many suspicious actions by governments on their handling of the Swine Flu pandemic I still stand by what I wrote. Nothing has changed, in fact it has only gotten worse. Obama declared a state of national emergency because of the Swine Flu. Nothing discernible has happened since that emergency declaration, the Olympic Winter games have yet to be canceled for example and as of now, I doubt they will be as will provide a two week distraction for the public.
But as is always the case with Obama, always watch what the other hand is doing. On Dec 17th Obama signed Executive Order -- Amending Executive Order 12425 The significance of this signing should not be lost on anyone. Make no mistake, this is next step in laying the groundwork to control the US population. Obama's Executive Order amending EO 12425 places INTERPOL above the United States Constitution and beyond the legal reach of US law enforcement including the FBI, US Marshalls, the CIA, you name it. It is a precursor to more damaging moves.
Karl Denninger has a great post up yesterday which lays out how Healthcare is going to evolve over the next few years and morph into a single payer system. It makes sense, is logical and fits perfectly. Worth reading to find out what is really going on and what the true intent is.
What is so stunning about this is the continued deception that is taking place in the US congress on its own citizens. Just as with the US presidential election, you have to listen to both sides, the democrats and the republicans to get a picture of what is really going on because neither side will tell the public the whole complete truth. The truth being that both parties and all involved are fundamentally reshaping America and counting on its citizens not to pay attention. It is only because of people like Karl anyone able to figure out what is really happening.
I don't know what is going on in the US. None of it makes any sense to me anymore. Up until a few days ago I held out hope that Obama was who he said he was, now I am having a hard time believing that. Actions speak louder than words and so far all of Obama actions are for Wall Street. I like to pretend that this is a "ruse" or part of a greater plan but the more I investigate the more disillusioned I become.
I told myself not judge the health care bill until the actual final bill came out of committee and likely I am being too quick too judge, its the white house response to the senate bill that has me so concerned. If Howard Dean is saying trash it and start over, you know there is a problem.
On the one hand I want to believe Obama, on the other, his support and bailout of Wall Street/insurance companies makes it very difficult to reconcile his words with his actions. Unless his intention is to bankrupt and take over insurance companies, I don't see what his motivation is other than being a wall street tool just like every other president since JFK. And that is disturbing.
I don't know what is going on with Joe Lieberman and the Health Care debate in the Senate right now but whatever it is it is very odd. Lieberman has come out against Medicare buy in which he supported three months ago. This is very odd. In this appearance on "Face the Nation" Sunday December 13th he is opposed to it even before getting the CBO analysis. There is something weird going on, something doesn't add up.
Just watched this today and had to write something down about it. Still haven't seen Michael Moore's new film - Capitalism, a good copy hasn't been released yet and I refuse to pay to see anything in a movie theatre so will wait.
In "Collapse" Michael puts everything together and ties it around peak oil. Peak Oil is irrefutable, it's math, it's physics, you can't argue with it.
He has many interesting things to say so hard to pick certain parts out, one of the more interesting is that thinks a transition period of 20 years would be incredible and is very unlikely. More likely will take 50-100 years. He says the same thing I have been saying, the issue is how to survive the transition.
There are so many things going wrong and so fast I quite frankly have given up trying to stay on top of it. Michael's blog and whoever is updating it is doing a good job of collating articles on what is going on.
"“Notwithstanding the fate of H.R. 3962, America will someday come to recognize the broad social and economic benefits of a not-for-profit, single-payer health care system, which is good for the American people and good for America’s businesses, with of course the notable exceptions being insurance and pharmaceuticals.”
Fascinating to watch. This game has been going on ever since Sarah Palin became the VP nominee for the Republican Party in 2008. Anyone who thinks Sarah Palin is a moron is a fool. Just like Sarah Palin couldnt name a single thing she reads and got the expected reaction, so too are the Republicans in the House today playing the same game.
Page 122: ‘‘(8) STATE — The term ‘State’ means the 50States and includes the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands."
The Republican plan will cost $36 billion more than the democratic plan, increase the number of uninsured by 10million, protect insurance companies not people, has no provision for preexisting conditions. The list of failures goes on.In Summary, the Republican Plan is a DISASTER and it defies logic to believe that republicans don't know it.
There are FACTS, OPINIONS and BELIEFS.
FACT: REPUBLICAN PLAN A DISASTER
MY OPINION : REPUBLICANS NOT MORONS
MY LOGICAL BELIEF: REPUBLICANS DELIBERATELY CREATE DISASTROUS PLAN FOR ALL TO READ
Every single republican who stands up and defends their plan knows they are defending and promoting a DISASTER for America. They are making arguments based on EMOTION not FACTS.
The NYTimes calls the GOP Health Plan a "Token Stab"
Markos Moulitsas summed it up on Nov 6th
"The issue here, what the Republicans are afraid of, this is a threat to Republicans...They built an entire ideology predicated on telling people that government does not work. They are terrified of government programs that work because then people will realize that the government is not the enemy, and that they're going to work, they're gonna vote Democratic because Democrats are the party who realize that people need help, and government can sometimes offer solutions."
The GOP, ever since Sarah Palin, has stood for "Grandstand, Oppose and Pretend"
The Republicans and Democrats are leading America exactly where they want to go.
Just as the Republicans and Democrats brought in social security and welfare during the Great Depression in 1935 with the Social Security Act, Medicare and Medicaid in 1965, and Medicare Advantage in 2003? so too are they going to bring in massive changes to America, and this time the entire world.
Its FASCINATING.
President Johnson signing the Medicare amendment.
Harry Truman and his wife, Bess, are on the far right
"100% chance of occurring within the next 5 years."
Search www.ibm.com/us/en/ for additional documents. Query [pandemic 2006] or [pandemic 2005] for relevant results on pandemic preparedness and planning.
"Officials described the move as similar to a declaration ahead of a hurricane making landfall."
CDC Director Dr. Thomas Frieden told reporters Friday. "To be basically in the peak of flu season in October is extremely unusual," he said.
"We expect that influenza will occur in waves and we can't predict how high, how far or how long the wave will go or when the next will come," he added.
"Many millions" of Americans have had swine flu so far, according to an estimate he gave at a Friday press conference. The government doesn't test everyone to confirm swine flu so it doesn't have an exact count.
Global figures
Also Friday, the World Health Organization reported more than 414,000 laboratory confirmed cases of H1N1 worldwide, with nearly 5,000 deaths.
But the Geneva-based health agency noted that the figures were only the tip of the iceberg.
"As many countries have stopped counting individual cases, particularly of milder illness, the case count is significantly lower than the actual number of cases that have occurred," WHO said.
Is October 25th date significant? I don't know. It's looking like it could be.
Just finished watching "Surrogates" released on September 25th. Yet another end of the world as we know it movie.
Next week , October 19th-25th all the major networks, ABC, CBS, Fox and NBC are going to be running prime time shows with same recurring themes, voluntarism, helping your community and such. All this public awareness effort that something big is coming, doesn't make any sense we are talking years away. Would be very ironic if something happens on Sunday October 25th right after week of propaganda TV. If something happens, will anyone make the connection?
I don't know anyone in the main stream of Canadian media other than Garth Turner who is telling it like it is. Upfront, in your face facts. Along with a lot of humor, anecdotes and great writing.
I almost can't believe what's in Moore's interview with Hannity. I've watched Hannity a few times, and out of the entire Fox lineup, he plays the part up more than anyone else I've seen. Never watched the morning shows. But out of Glenn Beck, Bill O'Reilly and Hannity, Hannity plays the froth at the mouth, red-meat Reagan conservative role with relish. Not in this interview.
First of all he gave Micheal a huge amount of airtime, an hour. Then he let Micheal make every single one of his points, and he let Micheal demolish every single one of his points. It was stunning. I wish I knew what Hannity's audience thought of it. I was shocked. 1st part aired Oct 6th
Michael Moore and Hannity - Aired Oct 9th 2009
What happened to Hannity? See this for what Hannity is usually like
“This year's Christmas shopper is going to be selective and value-conscious like never before,” Jim Thompson, Wal-Mart Canada's senior vice-president of merchandise and operations, said. “That's why we are starting our Christmas toy price cuts earlier than ever, across more toys than ever before.”
“Many shoppers plan to buy items on sale (74 per cent) to help stay on budget, and many expect to spread their shopping over a longer period of time to avoid large post-Christmas bills,” Wal-Mart said.
Looking at real estate sales anyone would think that Vancouver is in the midst of a economic boom. Bidding wars, people paying over a million dollars to purchase decrepit shacks and sheds on tiny plots of land. Real estate in Vancouver has become a gold mine again for sellers with crack addict buyers. Property where I live that hasn't sold for over six months or more has sold. New listings are gone within days. Panic buying fueled by cheap easy credit from the CMHC.
I suspect even Walmart knows this is a catastrophe in the making.
The intriguing thing about Walmart dropping toy prices so low and so far in advance of Christmas is what does it mean? What is Walmart telling us beyond what they are they are saying?
It almost sounds like Walmart wants to clear its inventory of toys before Christmas even gets here.
What does Walmart know that the average Canadian consumer doesn't?
Ithink what it means is Walmart expects Christmas '09 to be a disaster for retail sales. Perhaps they expect by the time Christmas rolls around, people are not going to be thinking about Christmas anymore or that their shopping habits will be so sharply curtailed that it is going to have a devastating effect. They want to do whatever they can to get people to shop for Christmas and buy gifts for their kids well in advance so that families and their children still have a Christmas.
The local evening news yesterday, Oct 8th, ran a piece about Walmart dropping toy prices to $10, almost encouraging people to get out and shop early for bargains while they can...Feels like they are hyping the sale as much as real estate, as much as the Swine Flu and in advance of the Second Wave.
Sometimes I feel like I'm the only one trying to connect the dots.
Fortunately have access to the Internet, so I know I'm not alone.
I sent my dad an email listing six fundamentals of the economy that are worse now than during the Great Depression along with a couple of graphs demonstrating this. I also sent him recent article, Oct 07, where Paul Krugman said that world trade, which I didn't include as one of the six, is also worse. So that makes at least seven economic fundamentals that are worse now than during the Great Depression.
Both my parents are raving Paul Krugman fans. They think his word is gospel, or at least they used to...Krugman has been pretty upbeat up until now, and like all the other talking heads out there he chooses his words very carefully. So I asked my dad, did you read the article? Yes he replied. Well what do you think. Well I have to see what he is referring to. Ah..trade, a fundamental of the world economy? Well I have to check the context. The context? How much more context to you need?
"Paul Krugman won the Nobel Prize in economics last year for his work on international trade — so the guy knows what he’s talking about when it comes to this subject. And he’s worried."
dad...have to check the context and what he means by that
me....he means trade, a fundamental of the world economy
dad...ah...
me....Paul Krugman says it's worse than the Great Depression
dad...well Krugman has always been a fan of Obama
me....do you believe him?
dad...ah...
me.....I mean you either take him at his word or you don't.
dad...don't start with me...
At this point my dad goes into defense mode and I stop pressing.
Well, just had a call from my dad. He still thinks this isn't going to affect him or his neighbor and in fact thinks he isn't going to be affected much. "It isn't going to affect my standard of living."
He doesn't think this time will be anything like the last great depression.
So now I have to write something to explain why he is absolutely right.
It's going to be much worse.
It's not a question of if there will be a depression, only when, how bad it will be and how long it will last.
7. World Trade (Oct 7th - Paul Krugman) 8. US Bankrupt. Fed Gov, States, FDIC, FHA, CC Companies, Major Banks, etc.
"Household credit is shrinking...Profits are shrinking... Employment is shrinking... Housing values are shrinking... The wage base is shrinking...
Treasuries are the last bubble
A depression ends when it has done its work. It must correct mistakes. It must punish errors. It must destroy the bubble economy...and the mindset of the Bubble Era. Only then can new real, sustainable growth begin again." Bill Bonner.
After watching "How to Brainwash a Nation" it explains an awful lot about why both my parents are incapable of using common sense. They are both brainwashed. They would deny it of course, but the truth is they don't have any idea it has been done to them therefore in their minds it can't be true.
They would think they are too intelligent to be "brainwashed" and couldn't have been done to them unless they were in a lab. Well, I can tell you from first hand experience in dealing with both of them, as smart as they are, they have both been successfully brainwashed. This clip explains how it was done, accurately describes their reactions perfectly and their inability to use common sense is proof they have been successfully brainwashed.
In any discussion with me on any contentious issue that could be settled with facts or common sense, neither of my parents have ever been capable of counter arguments supported by facts. Their counter argument always deteriorates to "stupid," "mistake," "i don't care," "i don't believe it," or simply starts with one, or all of these, and never budges. They are incapable of producing facts to support their argument because such facts don't exist, and they are incapable of using common sense to support their argument because they have been brainwashed.
So here are two classic examples of discussions/arguments I have had with my parents over issues/questions that I think would have been easily settled using plain old common sense, or settled using facts and evidence. In both of these cases I got nowhere and neither of my parents could believe anything other than what they had been brainwashed into thinking was true.
1) Bobby Jindal
In Feb09 Barack Obama gave a speech to joint session of congress that was broadcast live on national TV. Following Obama, Bobby Jindal gave the republican response, also on live national TV, as is customary for the minority party.
After listening to, and then reading the transcript to make sure I wasn't dreaming, this was my common sense reaction to his speech:
Every single word was carefully chosen, every sentence and paragraph carefully constructed and articulated for maximum effect to its intended audience, the viewer.
This is my parents (both of them) summary reactions to Bobby Jindal's speech: "stupid" "mistake" "i don't care"
Here are some more detailed reactions (paraphrasing): "I don't know that the Bobby Jindal speech was live, I have no way of knowing that." "I have no idea if he wrote it alone or had help, for all I know he wrote it himself and no one else ever read it or had any input." "He didn't care what anybody thought about his speech nor did he think anyone would check it for accuracy." "He didn't think anyone would pay any attention to it or bother to dissect his speech." "He thought no one would be watching, he could get away with it and wasn't thinking who his audience was." "He didn't think critics, commentators, analysts, acedemics, historians, observers, voters, political junkies or in fact anyone in the entire world or the universe itself would listen or be interested in it." "He thought he was talking to himself." Or the classic, Jindal is "an arrogant indian."
In his office at the Louisiana Governors Mansion, Gov. Bobby Jindal chats with staff members while working on the Republican Party response to Pres. Barack Obama's speech Tuesday, Feb. 24, 2009, in Baton Rouge, La. Jindal will give the Republican Party's response to President Barack Obama's first address to Congress Tuesday night. The Louisiana governor's speech will be nationally televised. (AP Photo/Bill Feig)
In other words, my parents common sense tells them that Bobby Jindal is the first politician in history who did not choose his words thoughtfully, carefully, throughly and with extreme care as who the audience was and how they would interpret and take meaning from his words.
My common sense tells me every single word in Bobby Jindal's speech was carefully chosen, every sentence and paragraph carefully constructed and articulated for maximum effect to its intended audience, the viewer. And what was the effect? 'Worst speech in history of democracy.' So what conclusion, using simple common sense, can we draw from this?
Bobby Jindal gave the worst speech in history of democracy deliberately to discredit himself and the Republican Party.
And my parents common sense? Non-existent. Why?
Brainwashed.
To be fair, I had some detailed written discussions with my mother over this speech and she did come up with an elaborate storytelling parable answer to try and explain Bobby Jindal speech. The problem with her storytelling parable as she well knows, is that Bobby Jindal told a bold faced lie in this speech. Jindal knew it was a lie when he told it, and my mother knows it. So her storytelling parable explanation boiled down to "stupid," 'mistake," "i don't care," or "i don't believe it." To this day that has not changed.
2) Money=Debt
This issue/question is one that has yet to see either of my parents provide facts and evidence to support their belief that money<>debt.
When I tried to explain to my father why money=debt I was told I was "stupid," "mistaken," or needed to take some economics classes and learn something as I clearly had no idea what I was talking about. This is a common retreat for my father "take some economics classes."
To the purists out there, when I say "money" I mean FRN's or any fiat currency equivalent. I'm not talking about value, wealth, assets or anything else. Strictly money as fiat currency. No other definition or meaning of money. Money as the fiat currency you pay taxes with, that money.
Last time I checked we still pay taxes in fiat currency, not sticks of bamboo, rocks, matchsticks or anything else. Our government here in Canada does not accept trades, barter, promises to pay, IOU's, diamonds, cigarettes, pencils or coconuts as mediums of exchange for payment of taxes. It only accepts its fiat currency, money, as payment for taxes.
Totally clear on what I mean by money?
Had to clear that up because my dad loves to start any discussion about money=debt with "well we could use matchsticks as money, we just choose to use money" or "if I had a 1,000 pencils worth a dollar each thats the equivalent of having a $1,000.00 dollars" or any other number of irrelevant distractions from the issue.
When the government allows you to start paying taxes in matchsticks, pencils or bits of wood, you let me know and then maybe how many matchsticks, pencils or bits of wood you have, can make or can gather, might be relevant.
So, this is how I try to explain to my father why money=debt.
Money is primarily created in only 2 ways
a) It is created by a central bank/treasury issuing IOU's
b) It is created by private banks issuing loans.
Both of these methods of money creation creates debt equal to the amount of money being created, plus interest.
money=debt
The third way money is created is through "Quantitative Easing"
c) The central bank creates money to buy treasury IOU's and instead of creating offsetting debt, instead just creates an entry on its balance sheet.
Now, trying to get my parents to see how money is created by using simple common sense is a gargantuan and basically impossible task. They have seen "money as debt" 1 and 2, discussed it with the author, Paul Grignon, discussed it with me, along with having read numerous articles I have sent including the federal reserves own "Modern Money Mechanics" explaining how and why money=debt. I have also sent them a long list of quotes including this one from the federal reserve “[Banks] do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts." As well as many quotes on the nature of money from people throughout history like Napoleon, John Adams, Henry Ford, Esra Pound etc. (The only sources I have ever found that disputes the fact money=debt is a publication from a private bank or something written by ill-informed, uneducated ignorant sheeple. I have never found anything that disputes on the basis of facts that money=debt as detailed in "Modern Money Mechanics" written by the federal reserve.)
Still not a dent.
In spite of overwhelming evidence, logic, reasoning, explanation, history, they mentally refuse to apply their common sense. Why? Brainwashing.
They have been successfully brainwashed all their lives to believe that money is something other than what it really is.
And the irony? They are both going to read this and it won't change a thing.
They will likely say something like "don't expect us just to agree with you." I don't, but until today, I did expect that common sense would prevail. Now at least I know why it never will. They have both been been brainwashed.
My thoughts on why I think Oct-Nov, maybe Dec, is possible time frame for the next leg down or "second wave."
First of all I don't believe in coincidences, and especially not when you have this many.
I think there will be a series of crisis that will unfold and allow congress to take big steps in moving their agenda forward.
For example, with ~50% unemployment no one is going to object to single payer government run health care.
So why Oct-Nov-Dec for next phase?
1) The "Swine Flu Pandemic." I still think this is governments way of giving ample warning to citizens of the world something is coming that will destroy economies, the chain is only as strong as its weakest link and so on. There is no other common sense answer that explains what the WHO has been saying about the upcoming "second wave" of "Swine Flu." My mother, who has believed in and trusted the WHO all her life thinks they are "stupid", "mistaken," or just doesn't care. I guess that is a lot simpler to believe that just using plain old common sense to explain what they are doing and why.
2) Fed releases Sept 09 numbers on approximately Oct 17th along with numerous other reports, earnings etc that have to come out in October.
3) Marc Faber, Jim Rogers and others are getting more shrill, while new voices are chiming in. Faber said the other day, when the day of reckoning comes it will wipe out himself, Bloomberg and everyone else. That day could be tomorrow, in three to six months, 5 or 10 years but that day is inevitable he said. Jim Rogers said he is no longer buying anything and there will be a currency crisis. Gore Vidal on Sep30 said the US will have a dictatorship soon. This list is exhaustive.
4) Jeff Immelt's letter to GE shareholders dated Feb 09. Why warn shareholders of a "reset economy" years in advance?
5) Nassim Taleb testimony to congress on "Capitalism 2.0." They are laying the groundwork for a new system as I write this. If this was years away or they intended to maintain the status quo why do it now and why do it at all?
6) Igor Panarin's prediction his book “The Crash of America” will be out of date by November.
7) Little things like Stephen Colbert on his Sept 23rd show:
Colbert interviews A.J. Jacobs, author.
A.J. - I actually think you should do an experiment, I think you should...
Colbert - I am
A.J. - You are? oh alright
Colbert - Yes, its called changing the world.
Michael Moore goes on Jay Leno to talk about "Capitalism, A love Story" and sings "Times they are a changing" with such catchy phrases as "don't criticize what you can't understand." It was also replayed on Larry King live, trying to get maximum exposure and fair warning.
Margaret Atwood releases a book called "The Year of The Flood" on September 22nd about a disaster and how people deal with it.
Discovery Channel is running a series called "The Colony" about how to survive after a disaster
HGTV is running a series on how to turn an empty loft into a complete living space using only recycled materials.
Hollywood movies: "9," "2012," "The Road," "The Book of Eli" and others. All about the end of the world as we know it.
Bill O'Reilly says "we'll know in November" whether Obama stimulus has worked and what all his czars are for.
Glenn Beck releases "Arguing with idiots" after "Common Sense." Basically saying you can't argue with people who won't use common sense.
On Glenn Beck show today, Oct 6th 2009, Glenn laid out what is happening, why it can't be fixed and where this is going. "Our leaders now know it will implode if we continue down this road. Well in the Soviet Union they drafted a document and transformed the Soviet model."
There are so many little examples, and too many of them to be a coincidence.
8) Then you have the tin-foil and semi tin-foil stuff like webbot , reinhardt, LaRouche, Jim Sinclair and Martin Weiss all saying Oct/Nov, end of October timeframe.
I think there are so many possible triggers for a "second wave" it is pointless to speculate what the trigger will be . After watching Schumer and Cornyn on ABC News yesterday though, I think what they are really saying is the next wave will not start in the US. Maybe it will be this "Banks brace for Latvia's collapse" There are just too many possibilities.
I will probably add to this post and list as stuff comes up and hits me in the face...
Well, I have the flu. Swine flu, common flu, whatever it is I have it. Feeling pretty miserable, headaches, body aches, can't stop blowing my nose, the whole bit and caboodle.
I try to lie down and sleep but can't. I keep running over these conversations in my head; I can rest but not sleep. So here are some of my thoughts while under the influence of the flu.
I keep coming back to my parents.
Every time I show them something or point out something I find odd, I keep expecting them to come back with a common sense explanation. They don't, they never do. It doesn't matter what or how glaring it is, their explanation is always "well he/she is stupid" or "they made a mistake" or "I don't care." One of these three answers is how they explain everything I point out to them. They get quite excited and animated with the "I don't care" answer. "I have more important things to think about" things like tiling, toilet, tea and tulips (tulips being gardening.)
They adamantly refuse to look at anything and come up with a common sense answer. I can't say they have lost their capability to apply common sense, they just refuse to apply it. If a common sense answer questions their values or beliefs they put up a mental wall and will only say "stupid" "mistake" or "I don't care"
Personally I find it extraordinary. My parents are both extremely intelligent and successful, have had a concern and interest in the world around them for as long as I can remember, but when it comes to something that questions their beliefs they shut down. They can't believe that a simple common sense answer makes the most sense, nor will they ever admit it.
Part of me believes they don't care and part of me doesn't want to. Michael Tsarion in "Architects of Control" said don't think you have to save people. You can't. They have to come to a realization themselves and on their own.
Michael gets pretty deep, but a much, much simpler communicator is Glenn Beck. Glenn has two books out, "Common Sense" and "Arguing with Idiots." Glenn is saying the same thing Michael is, in as plain and simple language as possible in a valiant and admirable effort to get through to people.
You can't argue with people who refuse to use common sense.
Found this clip that I think explains why my parents and others refuse to use common sense
The Truth about Canada's real estate bubble.
'CMHC is encouraging speculation, overlending and insuring it with tax dollars. This will all end very badly.' 'Looks like CMHC has managed to orchestrate theft on an even grander scale than the one going on in the US.' 'This will prove to be THE biggest Gov’t backed ponzi scheme in history'
Can't outrun a tsunami. With July GDP numbers released, banks (TD, CIBC, BMO, National, Laurentian)
own "economists" are feigning surprise as they spin the results. Some less successfully than others. There’s no spark in our economy...Okay, this is a shocker
"The numbers...are very disappointing, if not depressing.”
Nothing like a dash of reality to bring out a little truth telling.
Propaganda cheerleader the Globe and Mail writes "The Canadian economy was unexpectedly flat in July... Gross domestic product didn’t budge in the month. "
They neglect to mention GDP fell -4.6% YoY July 2009 vs July 2008.
Another whiff of reality to come in the main street media
“We are probably still underestimating job losses...In this period of steep job losses the birth/death model didn't work as well as it usually does...To the extent that there was an overstatement in the birth/death model, that is likely to still be there.”
The nightmare revision from the US Bureau of Labor Statistics:
'March 2009 Payrolls Overstated by 824,000 - Birth-Death Model Falsely Boosting Jobs Reporting in Recession Environment'
Outside the propaganda media, using the US Bureau of Labour Statistics own reports, K. Denninger
estimates the US is actually losing closer to 1 million jobs a month.Shadowstats.com using solely
BLS's own household survey estimates September job losses at 710,000.
Housing Crash to Resume on 7 Million Foreclosures "The crash in U.S. home prices will probably resume because about 7 million properties that are likely to be seized by lenders have yet to hit the market"
US large-loan bank losses triple to $53 billion
"The report said total identified losses of $53.3 billion in 2009 surpassed last year's total of $2.6 billion, and nearly tripled the previous peak in 2002, when losses totalled $19.1 billion."
'Regulators may be pacing themselves on closings because the FDIC fund “is only so big,” there isn’t enough staff to close all the struggling banks at once'
“Most of the additional job loss… appears to be due to in part to an increase in the number of business closings,”
BLS Commissioner Keith Hall
“It’s a huge number, much more than usual,” Nigel Gault, chief U.S. economist at IHS Global Insight. The government’s models “tend to assume dying firms get replaced, but that didn’t happen.”
Gault said the revisions suggest the economy doing worse in the first quarter than previously assumed and cast doubts on a recovery.
One temporary silver lining: it could be good news for corporate profits in the just-finished third-quarter, since firms saw increased sales while continuing to cut back on wages and salaries, he said. “But then, where’s the future demand coming from?”
“Today tells us employment’s going down, hours worked are down, incomes are falling — so how can we sustain robust growth in consumer spending in that environment? The consumer doesn’t have to lead the expansion,” he said, “but the consumer has got to be part of it."
For those market boosters who are prattling on about the possibility of a "jobless recovery," I offer an invitation to join me for a breakfast of "fat-free bacon," "eggless omelets," and "no-carb bread." - Peter Schiff
MOORE: Well, I, I don't, you know, a hundred years ago when there was child labor, they said, you know, 'Can we reform child labor? Can we just regulate it, like if the factories were safer and the kids go to school, we can still have 12-year-olds working in the factory, right?
LENO: Right.
MOORE: No, not right. It's wrong. Some things are just wrong. And this capitalist economic system that we have, it might have been right at one point, it's not right now. And I don't think we're ever gonna put the genie back in the bottle. So we need to come up with something new to replace it. And I'm not talking about... This isn't a debate between capitalism versus socialism.
LENO: Right.
MOORE: I'm actually suggesting go back to our roots of this country, democracy. What if we had an economy that you and I had a say in? Right now, we all don't have much of a say in this economy. What if we applied our democratic principles and said, 'We, the people, have a right to determine how this economy is run.' I think we'd be in much better shape than what we're going through right now.
These and COUNTLESS other examples, are all talking about the SAME thing.
To get to a "reset economy" or "Capitalism 2.0" can't reform existing system, have to scrap everything and start again on path to sustainability.
With everything thats been happening in the last 12 months, but particularly the last 6 months, it's as plain as day to me this is exactly what is happening.
