Economists are SOOOO "BLIND," "DEAF" and "DUMB"

Well, well, does any economist out there get it yet?

After reading yesterday's Blog and the following article's excerpted tidbits, readers who have a sense of the 'real world'  economic landscape that businesses face in the fall of 2011 will readily recognize that the answer is, ""Apparently not!"

But, I am certain of one thing.

 

When the full force, of the fast-approaching, “Kondratieff Super-Wave” drowns the economists and everybody that has followed them in a “sea of worthless bonds and worthless fiat currencies” utterly destroying them, their friends and their businesses with “exploding interest rates,” THEN they will claim that:

“Nobody could have seen this coming!”

And that is exactly why Polestar Communications is going public with this Blog, this website, our yearly forecasts and monthly and daily e-mail alerts – by subscription only. 

When these now ordained and inescapable economic disasters envelop the world in 201(?), this time a record of great prescient accuracy will have been ineluctably established, from which it will become clear to one and to all, that economics – as currently practiced in the “Ivory Towers” - is of very little real value in the “Real World.”    

Consumer Spending, Durable Orders Signal Slowdown in U.S. Growth

Bloomberg; By Shobhana Chandra and Alex Kowalski - Nov 23, 2011 11:25 AM ET

“ More Americans than forecast filed for unemployment benefits last week. Applications for jobless insurance increased 2,000 in the week ended Nov. 19 to 393,000. . . 

Americans pulled back on spending in October and manufacturers received fewer orders for durable goods, tempering expectations for a pickup in economic growth in the fourth quarter.

Consumer purchases, which account for 70 percent of the economy, increased 0.1 percent after a 0.7 percent gain in September, . . . Unemployment stuck near 9 percent and confidence at recession levels prompted consumers to curb spending  . . . “We’re looking at holiday spending that won’t be great, but probably not a washout,” said Robert Dye, chief economist at Comerica Inc. in Dallas. “It’s an economy that still refuses to give strong, clear signals of recovery. Weaker global macroeconomic conditions are beginning to exert a drag on manufacturing.”

. . . Reports from Europe and Asia today added to concerns that the global expansion is faltering. European services and manufacturing shrank further, industrial orders had the biggest drop in almost three years and China’s factories showed signs of contraction.

. . . The Bloomberg Consumer Comfort Index was minus 50.1 in the week ended Nov. 20, compared with minus 50 a week earlier. The measure has been at minus 50 or less for nine of the past 10 weeks, a performance unprecedented in its 26-year history.

Thirty-five percent of those surveyed last week said it was a bad time to buy needed goods and services, tying the record set in January 1991. Twenty-three percent said their own finances were in “poor” shape, matching a record set three times in the past three years.

… Retailers like Macy’s Inc. (M) and Kohl’s Corp. have said they plan to use more discounts to lure shoppers. . . . More affluent consumers are holding up “pretty well,” . . . 

Other retailers are less optimistic as unemployment has hovered near or above 9 percent for more than two years and companies limit hiring. . . “