Sobering News

[silversurfer1]

The magnitude of the recession was underscored by the latest numbers from the U.S. Treasury: last month’s individual income tax receipts dropped 44% and corporate tax revenue plunged 65% compared to April 2008. Alarming news, as April is historically the biggest collection month of the year and usually results in a sizable budget surplus for the month.

As Casey Research Chief Economist Bud Conrad correctly predicted back in January, the initial $1.2 trillion deficit for 2009 was grossly underestimated. The Congressional Budget Office estimate is not only riddled with low-ball expenditure figures and accounting trickery, it also failed to anticipate a precipitous collapse in tax revenues.

[Trvlr45]

Well, that is no surprise. Just as "they" are always saying NOT to invest in PM's. They have been lying to us for decades. The problem is so many believe the lies.

[silversurfer1]

Trvlr45 your are right. They are certainly lying to us now - no question about it.

[Ancona]

All estimates made by any department under the federal government blanket, are patent lies. There is no motivation for them to give us any other than the most Pollyanna of prognostications.

Crop reports, unemployment numbers, inflation.....all window dressed non statistics. If we were being told the truth, the dollar index would be at 65 and the dow at 4500. The PTB cannot risk the truth.

Any of you here who have not begun to prepare for the inevitable fall of the dollar would serve yourselves well by starting now. Many of us here are wide awake and well aware of this and have been preparing for years.

There is still time.