Economic Recovery Is Hype

[Sonny Clark]

As we've seen and heard, the government has constantly and consistently boasted about our recovery from the deep recession/depression of a few years past. They make claims about employment, rising wages, increases in household wealth, and a bright future ahead for all Americans. But, they speak as though Americans never read the daily headlines, nor move around in their communities, or feel the reality in terms of their own personal struggles economically.

Struggle City: Most U.S. cities haven't recovered yet ---- Struggle City Most U.S. cities haven t recovered yet - Jan. 22 2015

Oil boomtown: 'We could see 20,000 layoffs by June' --- Oil boomtown We could see 20 000 layoffs by June - Jan. 22 2015

And, just as many of us have repeated over the past 5 years, "what recovery?". Yes, some have recovered, made gains, and have bettered themselves. But, as the saying goes, "there're exceptions to every rule". And, most Americans do not find themselves celebrating any resemblance to a recovery from the recession/depression. The fact is that we have a long ways to go before parading in the streets and releasing balloons into the air.

 

[Hossfly]

As we've seen and heard, the government has constantly and consistently boasted about our recovery from the deep recession/depression of a few years past. They make claims about employment, rising wages, increases in household wealth, and a bright future ahead for all Americans. But, they speak as though Americans never read the daily headlines, nor move around in their communities, or feel the reality in terms of their own personal struggles economically.

Struggle City: Most U.S. cities haven't recovered yet ---- Struggle City Most U.S. cities haven t recovered yet - Jan. 22 2015

Oil boomtown: 'We could see 20,000 layoffs by June' --- Oil boomtown We could see 20 000 layoffs by June - Jan. 22 2015

And, just as many of us have repeated over the past 5 years, "what recovery?". Yes, some have recovered, made gains, and have bettered themselves. But, as the saying goes, "there're exceptions to every rule". And, most Americans do not find themselves celebrating any resemblance to a recovery from the recession/depression. The fact is that we have a long ways to go before parading in the streets and releasing balloons into the air.

I'm wondering if we should write off that 18 tril or just ignore it. After all, BHO thinks it's just chump change.

 

[Iceweasel]

As we've seen and heard, the government has constantly and consistently boasted about our recovery from the deep recession/depression of a few years past. They make claims about employment, rising wages, increases in household wealth, and a bright future ahead for all Americans. But, they speak as though Americans never read the daily headlines, nor move around in their communities, or feel the reality in terms of their own personal struggles economically.

Struggle City: Most U.S. cities haven't recovered yet ---- Struggle City Most U.S. cities haven t recovered yet - Jan. 22 2015

Oil boomtown: 'We could see 20,000 layoffs by June' --- Oil boomtown We could see 20 000 layoffs by June - Jan. 22 2015

And, just as many of us have repeated over the past 5 years, "what recovery?". Yes, some have recovered, made gains, and have bettered themselves. But, as the saying goes, "there're exceptions to every rule". And, most Americans do not find themselves celebrating any resemblance to a recovery from the recession/depression. The fact is that we have a long ways to go before parading in the streets and releasing balloons into the air.

I don't see any recovery here, LOTS of store fronts are still empty and it seems to be increasing. I believe that's the economic indicator that really matters. Not how many people get low end dead beat jobs but how many business are popping up.

When a Republican is in the WH is ALWAYS doom and gloom and becomes a self fulfilling prophesy as people freak out. This is just the opposite as far as I can figure.

 

[Sonny Clark]

As we've seen and heard, the government has constantly and consistently boasted about our recovery from the deep recession/depression of a few years past. They make claims about employment, rising wages, increases in household wealth, and a bright future ahead for all Americans. But, they speak as though Americans never read the daily headlines, nor move around in their communities, or feel the reality in terms of their own personal struggles economically.

Struggle City: Most U.S. cities haven't recovered yet ---- Struggle City Most U.S. cities haven t recovered yet - Jan. 22 2015

Oil boomtown: 'We could see 20,000 layoffs by June' --- Oil boomtown We could see 20 000 layoffs by June - Jan. 22 2015

And, just as many of us have repeated over the past 5 years, "what recovery?". Yes, some have recovered, made gains, and have bettered themselves. But, as the saying goes, "there're exceptions to every rule". And, most Americans do not find themselves celebrating any resemblance to a recovery from the recession/depression. The fact is that we have a long ways to go before parading in the streets and releasing balloons into the air.

I'm wondering if we should write off that 18 tril or just ignore it. After all, BHO thinks it's just chump change.

We should CUT the wasteful spending and pay down the debt.

 

[Sonny Clark]

As we've seen and heard, the government has constantly and consistently boasted about our recovery from the deep recession/depression of a few years past. They make claims about employment, rising wages, increases in household wealth, and a bright future ahead for all Americans. But, they speak as though Americans never read the daily headlines, nor move around in their communities, or feel the reality in terms of their own personal struggles economically.

Struggle City: Most U.S. cities haven't recovered yet ---- Struggle City Most U.S. cities haven t recovered yet - Jan. 22 2015

Oil boomtown: 'We could see 20,000 layoffs by June' --- Oil boomtown We could see 20 000 layoffs by June - Jan. 22 2015

And, just as many of us have repeated over the past 5 years, "what recovery?". Yes, some have recovered, made gains, and have bettered themselves. But, as the saying goes, "there're exceptions to every rule". And, most Americans do not find themselves celebrating any resemblance to a recovery from the recession/depression. The fact is that we have a long ways to go before parading in the streets and releasing balloons into the air.

I don't see any recovery here, LOTS of store fronts are still empty and it seems to be increasing. I believe that's the economic indicator that really matters. Not how many people get low end dead beat jobs but how many business are popping up.

When a Republican is in the WH is ALWAYS doom and gloom and becomes a self fulfilling prophesy as people freak out. This is just the opposite as far as I can figure.

You're correct. Main Street America tells the real story.

 

[william the wie]

The currency wars are heating up with Canada cutting rates and the ECB launching QE. That is not your usual recovery.

 

[Sonny Clark]

The currency wars are heating up with Canada cutting rates and the ECB launching QE. That is not your usual recovery.

It's not a recovery. The entire "Global Economy" is sitting on a razor thin edge right now. The way I see it, and from all indications, it's a day to day scenario. The collapse could happen at any moment.

 

[william the wie]

The currency wars are heating up with Canada cutting rates and the ECB launching QE. That is not your usual recovery.

It's not a recovery. The entire "Global Economy" is sitting on a razor thin edge right now. The way I see it, and from all indications, it's a day to day scenario. The collapse could happen at any moment.

Downturn yes, collapse no. That's a myth based on economists refusing to use anything but economic data to explain economic results. For example you can explain the 1931-1940 Great Depression about 10 times over with the 1914-20 farmland bubble going into extend and pretend 1921-29 before the 1930 drought morphed into the 1931-39 Dust Bowl. That may not ever make it into scholarly economic histories because weather is not an economic data series.

 

[MisterBeale]

“Here in the United States we kept hearing that low oil prices were going to put money into people’s pockets. That meant the consumer was going to put more money into retailer's cash registers. But the Retail Sales numbers were just released and they actually declined. Even November’s retail sales were revised dramatically lower.

It’s A Global Depression

Now let’s put this into perspective: Most people know that the global economy is in a slowdown. The reason prices are going down is because people don’t have money to buy things. That’s why retail sales are down not only in the United States but around the world. They are calling this ‘deflation.’ But do any of these puppets have the courage to call it what it really is? It’s a depression. These are depressionary conditions but no one in the mainstream media wants to call it that.

We have seen a collapse in oil prices because demand is way down. We are also seeing a collapse in commodity prices across the board. Copper prices just hit 5-year lows. Why? Well, 40 percent of the copper supply is absorbed by China, and China doesn’t have that 7.5 percent growth anymore — it’s more like 3.5 percent.

Price Wars Across The Globe

So as China slows down and countries in the West are buying less, resource-rich countries aren’t exporting as many commodities or products. This goes back to one of our top trends for 2015 — Price Wars. You are now seeing Price Wars across the globe.

It’s finally beginning to dawn on people that there has been no recovery — it has all been a coverup. The quantitative easing money has flooded the globe and created completely phony markets. The tens of trillions of dollars that were injected into global markets did nothing of any substance to improve the general economy.

We are now seeing swings of 400 points in the Dow. We’re seeing oil plummet and global stock markets beginning to decline because there are no fundamentals to support this. So the markets are running scared. And look at all the chaos that has erupted after the announcement today that the Swiss are abandoning the peg to the euro. This move by Switzerland is only the beginning of a much larger meltdown, Eric.

Wall Street Journal And Celente's 1987 Stock Market Crash Prediction

I began getting recognition as a trend forecaster in 1987. The Wall Street Journal covered my forecast. I said, ‘1987 would be the year it all collapses.’ I said, ‘There will be a stock market crash.’ One of the fundamentals I was looking at were the crashing oil prices in 1986.

Well, we see crashing oil prices today and the banks are much more concentrated and levered up in the oil patch than they were in 1987. From Goldman Sachs to Morgan Stanley banks have been involved in major debt financing, derivatives and energy transactions. But much of this debt has not been sold to investors and now we are going to start seeing some big defaults.

Global Collapse

So the worst is yet to come and there is no way out. And I would suggest to people as they look around the world at the geopolitical problems that are going on and how so many countries are becoming police states — under the guise of terrorism — that they ask themselves: Are these countries really afraid of terrorism or are they afraid of their own populations that are losing everything and will take to the streets? Because that’s what we see coming. We see a global collapse. There’s no recovery — it’s been a coverup.”
Gerald Celente 8211 Shocking Swiss Move Only The Beginning Of A Much Larger Global Meltdown King World News

 

[Sonny Clark]

“Here in the United States we kept hearing that low oil prices were going to put money into people’s pockets. That meant the consumer was going to put more money into retailer's cash registers. But the Retail Sales numbers were just released and they actually declined. Even November’s retail sales were revised dramatically lower.

It’s A Global Depression

Now let’s put this into perspective: Most people know that the global economy is in a slowdown. The reason prices are going down is because people don’t have money to buy things. That’s why retail sales are down not only in the United States but around the world. They are calling this ‘deflation.’ But do any of these puppets have the courage to call it what it really is? It’s a depression. These are depressionary conditions but no one in the mainstream media wants to call it that.

We have seen a collapse in oil prices because demand is way down. We are also seeing a collapse in commodity prices across the board. Copper prices just hit 5-year lows. Why? Well, 40 percent of the copper supply is absorbed by China, and China doesn’t have that 7.5 percent growth anymore — it’s more like 3.5 percent.

Price Wars Across The Globe

So as China slows down and countries in the West are buying less, resource-rich countries aren’t exporting as many commodities or products. This goes back to one of our top trends for 2015 — Price Wars. You are now seeing Price Wars across the globe.

It’s finally beginning to dawn on people that there has been no recovery — it has all been a coverup. The quantitative easing money has flooded the globe and created completely phony markets. The tens of trillions of dollars that were injected into global markets did nothing of any substance to improve the general economy.

We are now seeing swings of 400 points in the Dow. We’re seeing oil plummet and global stock markets beginning to decline because there are no fundamentals to support this. So the markets are running scared. And look at all the chaos that has erupted after the announcement today that the Swiss are abandoning the peg to the euro. This move by Switzerland is only the beginning of a much larger meltdown, Eric.

Wall Street Journal And Celente's 1987 Stock Market Crash Prediction

I began getting recognition as a trend forecaster in 1987. The Wall Street Journal covered my forecast. I said, ‘1987 would be the year it all collapses.’ I said, ‘There will be a stock market crash.’ One of the fundamentals I was looking at were the crashing oil prices in 1986.

Well, we see crashing oil prices today and the banks are much more concentrated and levered up in the oil patch than they were in 1987. From Goldman Sachs to Morgan Stanley banks have been involved in major debt financing, derivatives and energy transactions. But much of this debt has not been sold to investors and now we are going to start seeing some big defaults.

Global Collapse

So the worst is yet to come and there is no way out. And I would suggest to people as they look around the world at the geopolitical problems that are going on and how so many countries are becoming police states — under the guise of terrorism — that they ask themselves: Are these countries really afraid of terrorism or are they afraid of their own populations that are losing everything and will take to the streets? Because that’s what we see coming. We see a global collapse. There’s no recovery — it’s been a coverup.”
Gerald Celente 8211 Shocking Swiss Move Only The Beginning Of A Much Larger Global Meltdown King World News

GREAT post. Thanks for sharing it. I agree with it totally, 110%. I have been saying much the same thing for years now. I have seen the steady decline taking place, and I have said that the worst is yet to come, and I fully believe it. We're in a waiting mode, just waiting to see when, not if.

 

[DGS49]

As always, the politicos cook the books and misrepresent reality to try to make themselves look good. The unemployment rate is down, but that is nothing more than a reflection of people giving up looking for work (mainly second incomes in households with one satisfactory one), boomers retiring earlier than they planned to because of no job prospects, and people accepting shitty or part-time jobs because they have no alternatives. Barry wants to push 2 years of community college because high school grads have NOTHING to move to, and CC will hide the fact that they are not working. And if he were to get a higher MW like he wants (fat chance) it would be even worse for the young and minorities.

The stock market is high now because the economy is flush with funny money, and companies are figuring out how to make money without manufacturing anything themselves. And Barry wants to take CREDIT for that? Incredible.

This is not the worst recovery in modern times, it is no recovery at all, being dressed up to look like one.

 

[Sonny Clark]

As always, the politicos cook the books and misrepresent reality to try to make themselves look good. The unemployment rate is down, but that is nothing more than a reflection of people giving up looking for work (mainly second incomes in households with one satisfactory one), boomers retiring earlier than they planned to because of no job prospects, and people accepting shitty or part-time jobs because they have no alternatives. Barry wants to push 2 years of community college because high school grads have NOTHING to move to, and CC will hide the fact that they are not working. And if he were to get a higher MW like he wants (fat chance) it would be even worse for the young and minorities.

The stock market is high now because the economy is flush with funny money, and companies are figuring out how to make money without manufacturing anything themselves. And Barry wants to take CREDIT for that? Incredible.

This is not the worst recovery in modern times, it is no recovery at all, being dressed up to look like one.

AMEN !!!!!

 

[MisterBeale]

But this is all planned by the elites. . . .

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

"Among the banks’ most important commodities bets are oil derivatives. An oil derivative typically involves an oil producer who wants to lock in the price at a future date, and a counterparty – typically a bank – willing to pay that price in exchange for the opportunity to earn additional profits if the price goes above the contract rate. The downside is that the bank has to make up the loss if the price drops.

As Snyder observes, the recent drop in the price of oil by over $50 a barrel – a drop of nearly 50% since June – was completely unanticipated and outside the predictions covered by the banks’ computer models. The drop could cost the big banks trillions of dollars in losses. And with the repeal of the Lincoln Amendment, taxpayers could be picking up the bill."



So that kind of makes you wonder why the government amended the Dodd-Frank Act, doesn't it? No, not really, not when you realize the cozy corrupt nature of the revolving door sleaze fest between WallStreet and DC. The entire system is corrupt to the core, and it is mom and pop main-street that gets screwed. Remember this when the SWAT is on a street near you. lol



"Manipulating markets anywhere is illegal – unless you are a central bank or a federal government, in which case you can apparently do it with impunity.


In this case, the shocking $50 drop in the price of oil was not due merely to the forces of supply and demand, which are predictable and can be hedged against. According to an article by Larry Elliott in the UK Guardian titled “Stakes Are High as US Plays the Oil Card Against Iran and Russia,” the unanticipated drop was an act of geopolitical warfare administered by the Saudis. History, he says, is repeating itself:


The fourfold increase in oil prices triggered by the embargo on exports organised by Saudi Arabia in response to the Yom Kippur war in 1973 showed how crude could be used as a diplomatic and economic weapon.


Now, says Elliott, the oil card is being played to force prices lower:


John Kerry, the US secretary of state, allegedly struck a deal with King Abdullah in September under which the Saudis would sell crude at below the prevailing market price. That would help explain why the price has been falling at a time when, given the turmoil in Iraq and Syria caused by Islamic State, it would normally have been rising.


. . . [A]ccording to Middle East specialists, the Saudis want to put pressure on Iran and to force Moscow to weaken its support for the Assad regime in Syria.


If the plan was to break the ruble, it worked. The ruble has dropped by more than 60% against the dollar since January. But it came at a cost: not only are US oil producers hurt, but the derivatives banks will get killed if oil prices don’t go back up soon.


At least they would have been killed before the bailout ban was lifted. Now, it seems, that burden could fall on depositors and taxpayers."

Russian Roulette Taxpayers Could Be on the Hook for Trillions in Oil Derivatives Max Keiser

Ain't that a bitch, the government and banks are not only taxing you to bail them out, but now they have plans on STEALING your retirement and savings to save the "too big to fails." All this so they can break the Ruble. Isn't that something. I guess we better HOPE oil prices go back up quickly. Nobody wants to lose their life savings just for cheaper gas and a Russian economy in tatters, eh?

 

[william the wie]

It looks like about 5 gdps in write downs, labor force fraction in the 40-50% and 50-60% decline in asset prices but that is not collapse. locally Dunkin Donuts, Panera's and Starbucks are throwing away food because the local soup kitchen is oversupplied. That is recovery

 

[MisterBeale]

If you thought foks were angry with bail-outs in 2008, wait till they get a taste of bail-ins in 2005 or '06.
What Is A Bail-In How Does It Work

 

[MisterBeale]

It looks like about 5 gdps in write downs, labor force fraction in the 40-50% and 50-60% decline in asset prices but that is not collapse. locally Dunkin Donuts, Panera's and Starbucks are throwing away food because the local soup kitchen is oversupplied. That is recovery

Local businesses don't throw away food because the local soup kitchen is over supplied. They throw it away because NO BUSINESS in town is selling food, so they ALL are donating food to the soup kitchen. The soup kitchen can't handle the volume of food it has.

What the town will soon need is less businesses. Watch for it, soon they will start closing down, and the soup kitchen will have less food. . . just when the town needs more soup kitchens.

 

[Sonny Clark]

It looks like about 5 gdps in write downs, labor force fraction in the 40-50% and 50-60% decline in asset prices but that is not collapse. locally Dunkin Donuts, Panera's and Starbucks are throwing away food because the local soup kitchen is oversupplied. That is recovery

Maybe in some areas.

 

[EdwardBaiamonte]

If you thought foks were angry with bail-outs in 2008, wait till they get a taste of bail-ins in 2005 or '06.
What Is A Bail-In How Does It Work

Bailout money was paid back after it was used to prevent another great depression while personal bailout money ( welfare entitlements) is never paid back and used to create generations of welfare dependent liberal voters! By their very nature liberals subvert our democracy.

 

[william the wie]

It looks like about 5 gdps in write downs, labor force fraction in the 40-50% and 50-60% decline in asset prices but that is not collapse. locally Dunkin Donuts, Panera's and Starbucks are throwing away food because the local soup kitchen is oversupplied. That is recovery

Local businesses don't throw away food because the local soup kitchen is over supplied. They throw it away because NO BUSINESS in town is selling food, so they ALL are donating food to the soup kitchen. The soup kitchen can't handle the volume of food it has.

What the town will soon need is less businesses. Watch for it, soon they will start closing down, and the soup kitchen will have less food. . . just when the town needs more soup kitchens.

No, sales are good and local churches take the overage but they generally just ask people to take home the overage. Zillow Jax beach FL 32250 for sales, then check out the cost rental sites for the same area.

 

[MisterBeale]

If you thought foks were angry with bail-outs in 2008, wait till they get a taste of bail-ins in 2005 or '06.
What Is A Bail-In How Does It Work

Bailout money was paid back after it was used to prevent another great depression while personal bailout money ( welfare entitlements) is never paid back and used to create generations of welfare dependent liberal voters! By their very nature liberals subvert our democracy.

Whatever.

TARP Made a Profit - If by Profit, You Mean Loss.

"Chew on this, from the special inspector general of TARP:


After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).


And if that doesn't catch your fancy, check out this:


Only 9% of the TARP funds set aside for mortgage modifications have been spent to help a fraction of eligible homeowners after more than three years. Additionally, despite the fact that Treasury designed the Hardest Hit Fund to address unemployment and underwater homes as causes of foreclosure, after two years, only 3% of the funds obligated have been spent to help only approximately 30,000 homeowners."