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silversurfer1
29th January 2010, 13:08
Any thoughts? The latest report stating high economic growth?

http://www.thestreet.com/story/10670142/1/dollar-sinks-gold.html

Jake
29th January 2010, 13:33
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Jake
29th January 2010, 13:40
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Farthing
29th January 2010, 14:33
High economic growth?
http://i43.photobucket.com/albums/e370/MudDobber/smileys/anim_bs2.gif

Read this Market Ticker calls hooey (http://market-ticker.denninger.net/archives/1915-GDP-Theres-Your-Inventory-Bounce.html)

Excerpt

Current-dollar personal income increased $119.2 billion (4.0 percent) in the fourth quarter, compared with an increase of $35.1 billion (1.2 percent) in the third.

Personal current taxes decreased $11.7 billion in the fourth quarter, in contrast to an increase of $3.5 billion in the third.

Got it? People aren't earning the money, the government is handing it out. You don't pay taxes on government handouts, for the most part. There was a potential "improvement" signal in the third quarter related to tax liabilities increasing, but that has now reversed - hard - which throws a big fat rock at the concept of employment turning in any meaningful way. Instead the "current dollar income" is being borrowed and given away by the government through unemployment extensions and other forms of handout.



Consider all the manipulated job numbers, jobs created in congressional districts that don't exist, the largest drop in housing in 40 years, tax receipts out the bottom, unemployment expected to continue for at least 2 years. Would you believe the feds or your lying eyes?

If you believe the feds who must keep the illusion that all is well, all I can say is http://i43.photobucket.com/albums/e370/MudDobber/smileys/kookaid.gif

ETA: Don't forget how they like to revise numbers 2 quarters later when nobody is watching and when nobody cares

silversurfer1
29th January 2010, 15:03
Any comments??

http://theeconomiccollapseblog.com/

Jake
31st January 2010, 17:16
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