Half-brain Economists and Dishonest Spin Masters - Page 2
PCR asks. “For our corrupt financial markets, any news that can be spun as good news can send stocks up. But what are the facts?” And he answers the question with, “For facts one has to turn to serious people, not to the presstitute media. Among those who give us real facts is John Williams of shadowstats.com. In his October 27 report, Williams exposes the happy second quarter 2011 economic growth figure of 2.5% as nonsense. Every other economic indicator contradicts the spin.
For example, personal consumption is reported to have increased 1.7%, but this surge in consumption took place despite a 1.7% collapse in consumer disposable income! In other words, if there was an increase in personal consumption, it come from drawing down savings or from incurring higher consumer debt.”
PCR explains that a country’s consumers cannot forever draw down savings and go deeper into debt and prosper. He says that for an economy to recover, consumer income must grow, but there is no growth in the US. Our market is awash with goods and services produced by foreign labor. Therefore, even if domestic consumption increases American labor does not benefit from it, and the proof of it in our rising unemployment, the real figure of which now hover well over twenty percent.
PCR further explained the voodoo economics that has been adopted by the “presstitute” politicians of the western world at the behest of the banksters with these words, “The European Central Bank is following the lead of the Federal Reserve and creating new money to bail out debt. The cost will be paid in inflation and flight from the euro and the dollar. As an indication of the future, despite the positive spin on the news and the rise in US stocks, on October 27 the Japanese yen rose to a new high against the US dollar.”
Joy ho Spin Masters, Live, and let others Die!