For once, the mainstream press has greeted “good” economic news with the blunt skepticism it deserves. According to the Cambridge, MA-based National Bureau of Economic Research (NBER), the Great Recession ended in June of 2009, eighteen months after it officially began. “So Where’s the Party?” asked the Associated Press in a headline that topped Google’s afternoon news roundup. “[The recession] may be over,” wrote AP reporter Jeannine Aversa, “but you won’t be hearing any cheers from the millions of Americans who are struggling to find a job. Or are worried about the ones they have. Or have lost their homes. Or are behind on the mortgage.” Ms. Aversa even managed to extract the perfectly pithy quote from former communications worker Bob Johnson, who’s been looking for a job for more than three years: “Every single one of the individuals who wrote the report needs a serious reality check,” he said. Our sentiments exactly. This story is destined to rank right up there in the annals of foolishness with Bush II’s declaration that the war was over in Iraq, and with official estimates that more than 74% of the oil spilled in the Gulf had either evaporated, dispersed or been absorbed.
So what does the NBER have to gain by making themselves look like dummies in the eyes of tens of millions of Americans who are either unemployed, underemployed, or working harder than ever just to stay afloat? We can only speculate that the eggheads who compile NBER’s statistics got bored and decided to go out on a limb just for the hell of it. The bureau’s economists, who come from academia, business and trade unions, have been tracking recessions for the U.S. government since 1910. They are the official arbiters of when each recession has begun and ended, and perhaps we shouldn’t act surprised when they stretch the numbers a bit to bring a little drama and hope into our otherwise dreary economic lives. Or would we instead have them tell us that this recession will never end? That wouldn’t sound very scientific, nor would it give politicians much opportunity to “do something” about it.
As Colorado Goes…
For NBER’s part, they cautioned that their findings bear no relation to the current state of the economy and do not represent a forecast about the future. “If another downturn occurs anytime soon,” the NBER told MarketWatch, “it would constitute a separate recession.” Such an outcome evidently would come as a big surprise to economists outside of the NBER. According to MarketWatch, “most” economists doubt the U.S. will sink into another recession. We wonder what they’ve been smoking, since nearly all of the evidence we’ve seen lately suggests that the Great Recession is about to take a turn for the (much) worse. Just yesterday, for instance, there was a story that Colorado was facing a deficit of as much as $257 million in the current fiscal year and that the shortfall is set to quadruple next year. This is scary not just because we make our home in Colorado, but because the state is probably in better economic shape than most others. Even so, paring the deficit down to a still-unmanageable $257 million required such extreme measures as co-opting registration fees for medical marijuana dispensaries and cutting the Department of Corrections’ budget sharply. Over the next few years, budget problems far more severe than Colorado’s will need to be dealt with elsewhere at the state and local levels. What this implies is not merely the double-dip recession that economists say is so unlikely, but a continuation of the U.S. economy’s slide into full-blown Depression.
(If you’d like to have Rick’s Picks commentary delivered free each day to your e-mail box.)
The recession won’t be over until the objective is achieved!
If you haven’t already seen the documentary “The Money Master” it is a must see. It will probably change the way you see the world thereafter.
Find part 1 of 22 parts at Youtube:
http://www.youtube.com/watch?v=lXb-LrVkuwM
Once you have seen the documentary, what is happening makes a lot more sense:
The present recession was a premeditated move by the Banksters begun in July 2007. It was a tried and tested technique of restricting money to the populous in order to create fear and chaos. This time it was done with the objective of achieving the next step in the Banksters global plan, which is to create an international monetary authory which will take controll of all international money transactions. In effect, nobody will be able to buy or sell anything without going through this new Banking authority. (This part may make particular sense to some of you reading this, if you know what I mean!!)
“The purpose of this financial crisis is to take down the U.S. dollar as the stable datum of planetary finance and, in the midst of the resulting confusion, put in its place a Global Monetary Authority [GMA – run directly by international bankers freed of any government control] -a planetary financial control organization”- Bruce Wiseman
To those that still think as ‘sheeple’ this will be a comforting solution that will take away the uncertainty of the global monetary system.
The reality is very, very different.
It will be one of the final steps that the Banksters will have made in order have power and control over everyone on the planet.
“The Money Masters” documentary should give you some insight into what will follow, as the total world population become slaves to the elites.
The main point is that the US dollar is probably going down heavily now, so steer clear of it. Also, it seems highly likely that the UK’s & US’s gold reserves were offloaded into the hands of the Banksters about ten years ago, and historically they have preferred a gold standard money supply, especially when everyone is in debt already. This means that they are probably very happy for the gold price to keep rising, so long as not many of the sheeple have any.
The other issue is silver. The Banksters outlawed use of silver as money as it was too available, and prevented them from crushing debtors so easily in the deflationary stage of their scam. It seems unlikely that it will be returned to money whilst the Banksters are in power, which they most certainly still are.
However, the Banksters control is expected to end abruptly, according to the expected course of events, but this may be quite some time away yet.
Hopefully we won’t have to endure the experience of their total control for any longer than is absolutely necessary!