Well, the following "Terrifying" article and the tidbits therein are greatly elucidating and are most horribly confirming our direst fear and our many predictions of NOT only the direction that this economy is now ordained to follow, BUT the complete inability of those who claim to understand these things, (by virtue of their training - Economists), to most clearly comprehend what is actually happening around them in this Once Great Country!
Namely, a rather smart guy gets it!
But, 81 economists do NOT get it!
Are you and your company really committed to following these “Blind,” “Deaf” and “Dumb” academicians over the precipice - yet again?
Or would you like to get a real grip on what is happening in this economy that is in the midst of a “Kondratieff” downturn of truly immense magnitude, with horrific consequences for ALL those who don’t get it?
BBA Alert #1 - This Nation is NOT coming out of anything. This Nation is still in the grips of a systemic economic down turn that commenced in 2007- 08!
BBA Alert #2 - This Nation was NOT in a recession. In 2007-08 this Nation entered a Depression and it is still in a Depression that is growing worse by the day. This fact is hidden, veiled and obscured by the deceptively compiled and aggregated data that is regularly issued by the US Commerce Department.
For instance, the GDP numbers that are reported by the US Commerce Department INCLUDE US Government expenditures and even counting this non-producing entity, the numbers reported regularly disappoint with tiny increases in the + 1.5% range, which are actually negative by 4.5 to 6.5%!
And that is so because the GDP as calculated by the Commerce Department - quite marvelously and wondrously - includes ALL the expenditures of the US Commerce Department itself, amongst all the other US Government agencies of questionalble value?
Now, I ask everyone out there: Once you know these things, Do the reported numbers of the GDP really reflect business activity in the US - especially when one considers the indisputable fact that the US Government is the ONLY sector of this economy that is expanding in recent years, at great deleterious cost to us all, as the US Government pays for its activities by taxes or borrowing more money, thus further compounding the primary nexus of the National Dilemma - DEBT?
Does anybody out there recognize the complete and utter insanity of the reported GDP numbers supposedly actually reflecting the health of the US economy when it is - in fact - the US Government expenditures that is keeping the numbers from being HORRIBLY negative?
BBA Alert #1 - This Nation is NOT coming out of anything. This Nation is still in the grips of a systemic economic down turn that commenced in 2007- 08!
BBA Alert #2 - This Nation was NOT in a recession. In 2007-08 this Nation entered a Depression and it is still in a Depression that is growing worse by the day. This fact is hidden, veiled and obscured by the deceptively compiled and aggregated data that is regularly issued by the US Commerce Department.
For instance, the GDP numbers that are reported by the US Commerce Department INCLUDE US Government expenditures and even counting this non-producing entity, the numbers reported regularly disappoint with tiny increases in the + 1.5% range, which are actually negative by 4.5 to 6.5%!
And that is so because the GDP as calculated by the Commerce Department - quite marvelously and wondrously - includes ALL the expenditures of the US Commerce Department itself, amongst all the other US Government agencies of questionalble value?
Now, I ask everyone out there: Once you know these things, Do the reported numbers of the GDP really reflect business activity in the US - especially when one considers the indisputable fact that the US Government is the ONLY sector of this economy that is expanding in recent years, at great deleterious cost to us all, as the US Government pays for its activities by taxes or borrowing more money, thus further compounding the primary nexus of the National Dilemma - DEBT?
Does anybody out there recognize the complete and utter insanity of the reported GDP numbers supposedly actually reflecting the health of the US economy when it is - in fact - the US Government expenditures that is keeping the numbers from being HORRIBLY negative?
El-Erian: U.S. Economic Conditions ‘Terrifying’
Bloomberg; By Cordell Eddings and Betty Liu - Nov 22, 2011 9:41 AM ET
“Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” given that the nation is coming out of recession.
The odds of the U.S. returning to recession are one-third to half, El-Erian said in a Bloomberg Television interview with Betty Liu. . . .
The median forecast of 81 economists surveyed by Bloomberg News called for no revision. Excluding stockpiles, so-called final sales climbed 3.6 percent, the most since last year’s fourth quarter. . . .”
No comments:
Post a Comment