I don’t know where the hell our political leaders finds all these “sugar and honey” indicators that make them think our economy is in such a good shape to recover. Most of the national and international economic experts and forecasters whose reviews I read, believe that we are not at the bottom of the economic pit but on the top. Hence, as the saying goes, “the shit hasn’t hit the fan yet”. Until it does, my advise to you is to wear a steel meshed underwear to protect your ass from the economic f…k you are about to receive. Politicians have this cunning ability to spin the truth better than an Indian cotton spinner.
These are the facts:
Bankruptcies are still going up, jobs are still being lost, credit is still hard to get, we still have over production and under consumption. Warehouses are over stocked and retail stores are under sold. Millions of cars are sitting in dealerships and seaports because nobody is buying. Europe is in the deepest financial shit hole since the 1930’s. Asians are still struggling to survive. Africa is even more neglected now than it was before the financial collapse. Japan is doing the tango in the same shit hole with the Europeans and Americans….we have major wars in Pakistan, Iraq, Afghanistan, and the Middle East, is still in turmoil. Two potentially nuclear wars (Iran and North Korea) can erupt at any moment and we are told things are getting better. Does that sound like things are getting better? Does it look like our economy is coming out of this mess “better and stronger” like our politicians would have us believe? I don’t fucking think so. Eventually, I suppose, we will see the light at the end of the tunnel. But for the time being don’t bullshit yourself into believing these rosy pictures the morons in Washington and other capitals are painting for you. Believe me friends. We have a long way to go. We are going through a very long bumpy and very dark economic tunnel and we are moving through it on a Mexican donkey….very F….g slowly. Until all the components of the global economy are synchronized and the value of the world currencies is again based on the gold standard….don’t count your chickens. Keep your eggs in the freezer!
These are the facts:
Bankruptcies are still going up, jobs are still being lost, credit is still hard to get, we still have over production and under consumption. Warehouses are over stocked and retail stores are under sold. Millions of cars are sitting in dealerships and seaports because nobody is buying. Europe is in the deepest financial shit hole since the 1930’s. Asians are still struggling to survive. Africa is even more neglected now than it was before the financial collapse. Japan is doing the tango in the same shit hole with the Europeans and Americans….we have major wars in Pakistan, Iraq, Afghanistan, and the Middle East, is still in turmoil. Two potentially nuclear wars (Iran and North Korea) can erupt at any moment and we are told things are getting better. Does that sound like things are getting better? Does it look like our economy is coming out of this mess “better and stronger” like our politicians would have us believe? I don’t fucking think so. Eventually, I suppose, we will see the light at the end of the tunnel. But for the time being don’t bullshit yourself into believing these rosy pictures the morons in Washington and other capitals are painting for you. Believe me friends. We have a long way to go. We are going through a very long bumpy and very dark economic tunnel and we are moving through it on a Mexican donkey….very F….g slowly. Until all the components of the global economy are synchronized and the value of the world currencies is again based on the gold standard….don’t count your chickens. Keep your eggs in the freezer!
This again is not news...It's Jungle Politics
From the Desk of Dr. Politikong...Over and Out!
The Dr. is back the Dr. is back! It's about time. I missed your bull's eye style. Again a very good article. Somewhat depressing but I much rather be faced with the harsh realities than than live in the false securities of fantasy world.
ReplyDeleteGood one politikong! Keep up the good work!
I said before, if you were writing for the NY Times you'd win the Pulitzer Prize. Now I can say, if you were writing for the Financial Times, you'd be nominated for a Nobel laureate in economics.
ReplyDeleteKeep telling us the truth because our Government sure as hell doesn't, but don't make us wait this long.
The problem is, I don't trust any words from government officials, business "leaders", heck even my neighbor who claimed he was a big shot investment type moved out in the middle of the night with a "million dollar" jingle mail--what a tune that must be. The problem is most people have common sense and if they choose to listen to it over all the babble from the wings tells them things are more like an eye of the storm than green fields. Perhaps we got lucky and storm is moving away. Perhaps the worst part of the storm is yet to arrive. The fact is there is a HUGE debt problem and crack heads addicted to it can't get rid of it cold turkey. Even if I thought I should put money in the market, I can't--I am going to need it as my tax bill will increase significantly over the next few years as I help a bunch of people pay for plastic surgery. We may be a poor country, but at least we'll look good--too bad that has become the American way.
ReplyDeleteGreat blog!!!!!!!!!
ReplyDeleteManufacturing continues to plummet. Unemployment is continuing to rise (oh, the increase in jobless claims was less than we thought ... IT STILL INCREASED!). The rapid influx of cash into the economy is not translating into new jobs or increased consumer spending or even a loosening of credit at banks. Instead, it is driving inflationary fears, thus causing a flood of money into commodity prices. What is going to happen when we have $3.50 gas and 10% unemployment? The housing market is going to go south as more people lose their jobs. Who's going to buy these houses on the open market? Oh yeah .. the real estate investors that drove the market up in the first place!
At the beginning of this crisis in 4Q08, the talk was "wait till 2Q09 and this will pass." Then, after 1Q earnings were horrible, it was "things should get better in 2H09." Mark my words: the 2Q earnings will also be bad but peppered with lots of "4Q09 or early 2010 recoveries." The US and Europe are going to be depressed for a while.
You hit the spot dude!
ReplyDeleteMy friend told me about this blog and when I saw the name Dr. Politikong, I laughed my ass off. Then curiosity got the best of me and I logged on and read this article. Then I read some previous writings. I stopped laughing. Writer, I don't know who you are but just the same I like you. You nailed the tail on the donkey's ass. Great job. As of now, like my friend, I am following you. And also the comments of others that I read now some of those did make laugh.
ReplyDeleteTHIS BLOG ROCKS.
ReplyDeleteThe problem is too much debt, the government is trying to borrow it's way out of debt? Past crisis were papered over but always led to something worse down the line. The credit bubble started expanding greatly under Reagan from 1982. Since then the solution to any crisis has been an adrenaline shot of debt(credit).
At some point the cancerous tumor of excessive debt must be removed from the system, adrenaline shots won't do. The US economy is on its death bed. The Banks must be allowed to fail, the bad debt must be defaulted on. We must start "clean" (perform triage) or perish.
David E.P.
Fresno, CA
As usual Dr. Politikong is right on the money. We are facing an imminent Minsky moment collapse in American Denial. This is an instant that is begging for a defining moment. Universal shock of recognition will mark all our lives when it does.
ReplyDeleteWill we fail each other and fall into cannibalistic survival of the fittest?
Be afraid, be very afraid.
I wonder if people realize that this economy is being flushed down the proverbial toilet irrespective of what the government does. The U.S. is in so much debt to the Chinese, Japanese, and Russians that the U.S. dollar will be worth as much as the Zimbabwean dollar. How would you feel about paying $500,ooo to buy a carton of milk? Exaguration I know, but very possible.
ReplyDeleteIf anyone thinks that we are out of the mess, think again.
John,
Ottawa,Ontario
Kong here is a solution to our problem. Line up all the CEO's of all the companies that screwed up. And all the CEO's of all the companies that closed shop in the states and went to China, India,Mexico, or anywhere else in the world. Put them against the wall and shoot them dead. Then we start over again.
ReplyDeleteHow is that for a solution
David E.P, I agree with you 100%. Look what happened now. We (the tax payers) have given the auto industry over 55 billion dollars to save their asses already, and the eventuality of that stupid charity gesture was "chapter eleven" anyway. That money is now gone. And Banks???...don't get me started with banks...giving them hard earned tax $'s so they can live it up in exclusive resorts. How nice is that?
ReplyDeleteHow much did you say a bullet costs now days??????
Just kidding. Let's pick up a bible and preach the gospel instead. On second thought, the bullet is a better solution isn't it?
Now you are talking.
ReplyDeleteYou lead and I'll you back covered with my AR-15.
I don't know who you are but if you don't run for President in 2012 you'd be doing this country a disservice.
ReplyDeleteKeep up the good work and thanks for the wisdom
An American Patriot
Las Vegas, NV
Bingo! even the monkeys know the realities better than our leaders. No offence KONG. I like your blog and follow it all the time. You stopped writing there for a bit and I thought they killed you.
ReplyDeleteYou are for sure correct with what you say.
Jake
Who gives a rat's ass. I already lost my job,my wife,my insurance has been canceled cause I can't afford the premiums, no income, no benefits, and yes no friends. All the fuckers who were happy to sit and drink my booze and eat my food now don't even answer their stupid phones. So you think I give a shit what happens to this damn country. Hey monkey misery like company. But I get your point.
ReplyDelete