Thursday, February 02, 2012

The Real Economic Picture

Paul Craig Roberts
February 2, 2012

Full Article Here

Here is housing starts. Do you see a recovery?

Here is real GDP deflated according to the methodology used when I was in the US Treasury.

Here is real retail sales deflated by the traditional, as contrasted with the current, substitution-based, measure of inflation.

These graphs courtesy of John Williams make it completely clear that there is no economic recovery. In place of recovery, we have hype from politicians, Wall Street, and the presstitute media.

The “recovery” is no more real than Iraqi “weapons of mass destruction” or Iranian “nukes” or the Obama regime’s phony story of assassinating last year an undefended Osama bin Laden, allegedly the mastermind of Islamic terrorism, left by al Qaeda to the mercy of a US Seal team, a man who was widely reported to have died from renal failure in December 2001, a man who denied any responsibility for 9/11.
A government and media that will deceive you about simple things such as inflation, unemployment, and GDP growth, will lie to you about everything.


billy pilgrim said...

obumble's programs to help home owners pay their mortgages is designed to help the banks not the poor suckers with a mortgage larger than the house is worth.

the banks will be the losers if everyone walks away from their worthless houses.

texlahoma said...

Billy - I agree, he works for the banks while pretending to work for the people.

Cheap Flights to Goa said...

Don't say you don't have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur, Michaelangelo, Mother Teresa, Leonardo da Vinci, Thomas Jefferson, and Albert Einstein.

Blog Archive