If I said it once I said it a thousand times.
All the premature optimism coming out of “Corporate America” is baseless and self-serving. Baseless because all the indicators point to a different direction. Self-serving because it is an attempt to mislead us into a false sense of financial security for the obvious reasons.
By understating the economic apocalypse and overstating the recovery, the wolves of Wall Street are hoping to regain your trust and your money.
The global economic indicators and the majority of institutional data available have been pointing downwards. Yet all these “geniuses” on Wall Street along with their pooches in main stream media, are trying very hard, though, unconvincingly, to tell us how the economic tide has turned and the recovery is upon us. To that I say BULL SHIT, capitalized and bolded.
The majority of people don’t buy the “economic recovery” crab any more. The markets can and are still being manipulated by the same speculating s.o.b.’s who screwed up the economy in the first place.
You want to talk recovery? Let me take you on a stroll down “Joe Plumber Avenue” or “Unemployment Street” or “Bankruptcy Road” or “Foreclosure Drive”. That’s where you will see the REAL recovery or lack there of. That’s where you will find the results and effects of the corporate greed. That’s where you’ll find the desperate the destitute and the unemployed. The starving, the sick, and the broken spirits. That’s where you will find the REAL AMERICANA. Take that stroll first and then tell me where the hell you see RECOVERY.
All the Economic News I read every day warn of weak economic recovery, market instability, market corrections, prolonged economic stagnation, flat lined economy, worsening unemployment, more bankruptcies, more foreclosures and much more.
Nice f…g recovery!
My advice is, grab a life jacket because you’re going to need it when the tsunami hits.
Here are some interesting write-ups for your leisure and entertainment.
From Bloomberg.
1. http://www.bloomberg.com/apps/news?pid=20601087&sid=aTo1p6Los8CI
2. http://www.bloomberg.com/apps/news?pid=20601087&sid=awPS87wgpnRU
From the Economist.com
http://www.economist.com/displayStory.cfm?story_id=14541030
From the Financial Times FT.com
All the premature optimism coming out of “Corporate America” is baseless and self-serving. Baseless because all the indicators point to a different direction. Self-serving because it is an attempt to mislead us into a false sense of financial security for the obvious reasons.
By understating the economic apocalypse and overstating the recovery, the wolves of Wall Street are hoping to regain your trust and your money.
The global economic indicators and the majority of institutional data available have been pointing downwards. Yet all these “geniuses” on Wall Street along with their pooches in main stream media, are trying very hard, though, unconvincingly, to tell us how the economic tide has turned and the recovery is upon us. To that I say BULL SHIT, capitalized and bolded.
The majority of people don’t buy the “economic recovery” crab any more. The markets can and are still being manipulated by the same speculating s.o.b.’s who screwed up the economy in the first place.
You want to talk recovery? Let me take you on a stroll down “Joe Plumber Avenue” or “Unemployment Street” or “Bankruptcy Road” or “Foreclosure Drive”. That’s where you will see the REAL recovery or lack there of. That’s where you will find the results and effects of the corporate greed. That’s where you’ll find the desperate the destitute and the unemployed. The starving, the sick, and the broken spirits. That’s where you will find the REAL AMERICANA. Take that stroll first and then tell me where the hell you see RECOVERY.
All the Economic News I read every day warn of weak economic recovery, market instability, market corrections, prolonged economic stagnation, flat lined economy, worsening unemployment, more bankruptcies, more foreclosures and much more.
Nice f…g recovery!
My advice is, grab a life jacket because you’re going to need it when the tsunami hits.
Here are some interesting write-ups for your leisure and entertainment.
From Bloomberg.
1. http://www.bloomberg.com/apps/news?pid=20601087&sid=aTo1p6Los8CI
2. http://www.bloomberg.com/apps/news?pid=20601087&sid=awPS87wgpnRU
From the Economist.com
http://www.economist.com/displayStory.cfm?story_id=14541030
From the Financial Times FT.com
http://www.ft.com/cms/s/0/617cc13c-af49-11de-ba1c-00144feabdc0.html?nclick_check=1
Again This Is Not News…It’s Jungle Politics!
From The Desk Of Dr. Politikong…Over And Out!
Again This Is Not News…It’s Jungle Politics!
From The Desk Of Dr. Politikong…Over And Out!
POLITIKONG, GREAT BLOG!!!
ReplyDeleteThe banks must be restrained, the financial system reformed and real economy (not government) jobs must be created before there can be any sustained recovery.
Bloomberg says real job losses underestimated which makes a mockery of all the government "recovery" spin. Things are getting worse, not better.
Oct. 2 (Bloomberg) -- The U.S. economic slump earlier this year was so severe it short-circuited the government’s model for calculating payrolls, raising the risk that today’s jobs report may be too optimistic.
About 824,000 more jobs may be subtracted from the payroll count for the 12 months through last March when the figures are officially revised early next year, a Labor Department report showed today. The revision would be the biggest since at least 1991.
The bulk of the miss occurred in the calculations for the first quarter of this year, the Labor Department said. The economy shrank at a 6.4 percent annual pace in the first three months of 2009, the worst performance since 1982.
The figures raise the possibility that the government’s calculations continue to miss the mark.
“We are probably still underestimating job losses,” said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “There could be another 30,000 to 40,000” that the data isn’t picking up, he said.
That would mean the loss of jobs for September could turn out to be as high as 300,000, rather than the 263,000 reported today by the Labor Department. Today’s report also showed the jobless rate climbed to 9.8 percent last month, a 26-year high.
The potential revision for the year through last March would mean that the economy lost 5.6 million jobs for the period instead of the 4.8 million now on the books.
TARAXIAS
Chatham, ON, Canada
GREAT BLOG DITTO.
ReplyDeleteWhen looking at job losses over time one has to keep in mind the natural growth of the population and hence the need for the economy to keep generating jobs just to keep the employment level constant. A long period of zero job losses and zero job creation can be more harmful for the labor market than a short shock followed by a quick rebound. Therefore, one should look not only at number of job losses relative to the pre-recession peak but also at the slack between the actual number of jobs and the level required by the natural growth rate.
Assuming for simplicity the current population growth rate of 0.9% and ignoring different demographic buckets, over 21 months the number of jobs should have grown by 1.6%. Instead since the start of this recession the economy lost 5.8%. So the effective loss, or the slack, is actually 7.4%.
This thinking also shows why the U3 unemployment rate under-reports the severity of the situation: U3 was 4.9% in Dec-2007. Just adding the effective job loss and ignoring return to the labor force of retired people would result in the unemployment rate of 12.3%. Of course, many people stopped actively looking for jobs, and that keeps the reported U3 artificially low.
John King
NYC
I also thought this might be of interest.
ReplyDeleteBarron’s Alan Abelson calls the September employment report “An absolute horror.”
He notes that as bad as things look on the surface, “the more you dig into the numbers, the worse they get.” He references my pal Doug Kass, who explains why those expecting a “V-recovery” and a robust consumer snap back are kidding themselves.
John
http://www.ritholtz.com/blog/2009/10/the-more-you-dig-into-the-numbers-the-worse-they-get/
Quick, post your thoughts before Butch comes around. :)
ReplyDeleteNo Ducky today, just raw, uncensored and right on the money Dr. Politikong. Well done.
Recovery my ass:
Unemployment at the highest level ever since 1947.
Personal bankruptcies at record high levels.
Moody's forecasts that housing won't return to pre-bust levels until 2020, "Florida and California will only regain their pre-bust peak in the early 2030s"
Treasury says millions more foreclosures are coming.
Fannie Mae's serious delinquency rate is skyrocketing.
Half of all borrower who are getting help with loan modifications end up redefaulting.
The creation of small businesses is way down.
Experts are projecting unprecedented corporate defaults.
World trade collapses as ghost fleets of unused ships lie rusting in ports.
Recovery???....yeah, right!!!!
Michael Shelby
NY NY
As usual, padding the numbers, trying to keep the illusion of recovery there.
ReplyDeleteExtend and pretend can't keep up with these losses. A second deluge of government money is required to paper over the gaping hole of funding and jobs.
Jackie
why so pessimistic, it's bad...
ReplyDeletebut not THAT bad... a lot of the roll off is baby boomers deciding to live off what they do still have saved up for retirement. I've seen this first hand in my wifes parents. They don't have enough to retire forever.. but they are "retired" right now.
not sure what that means for the future of baby boomers retirements though,.. i'm sure it's not good.
but don't get me wrong.. the numbers are still really bad.
CJ
My brother is one of those off the unemployment stats. Worked for Hewlett Packard for over 20 years and bringing in about $140,000/ year. 2.5 years ago laid off and has worked two poor jobs trying to sell storage systems for small companies. Laid off there to. His UE ran out two weeks ago after a full 79 months worth. Two kids with ex-wife in college (has to pay for it by court decree) two kids with current wife (one with Bardet Beidle Syndrome) a big mortgage, tapped all of his retirement savings and is hitting the IRA and 401k with little more than 6 months to exhaustion. He is not unemployed according to our government.
ReplyDeleteR. Beittia
Baltimore
I want to thank the first two contributors Taraxias and John King for their very informative comments. Even I can understand a little more now about what is really happening and I am a girl. Here is my question to both of you. Why is it that the network and cable news outlets don't analize and report these facts the way you do so people like me who don't understand economics can get a better idea of the figures they throw at us? I get more info from the Politikong blog than I do on the evening News.
ReplyDeleteDianesh Moore
Madison WI
R. Beittia, not to insult your brother, but if I made $140,000 a year I sure as hell wouldn't be out of money in 2 or 3 years even if my income was suddenly cut to zero.
ReplyDeletePart of the problem though is what have been conditioned to live large. Live in excess and debt, all will be well. Spend now, worry later. It's called marketing.
Bruce Brown
NY NY
Dianesh Moore, it's because the more in the dark you are, the easier it is for THEM to push their agenda. And that's the transfer of wealth from YOU to THEM.
ReplyDeleteI predicted long time ago on this blog, that this blog will eventually be shut down due to "technical problems". THEY will shut down anything that opens the public's eyes. You'll see.
Bruce Brown
NY NY
Excellent blog Dr. Politikong.
ReplyDeleteDon't worry everyone, the government will print some more green colored paper and come to the rescue. Additional unemployment benefits fell one vote short in the Senate this week, although John Kerry (Democrat-MA) was somewhere goofing off, so they think if they can get him back in the building long enough to register a vote, they can pass an additional 13 weeks of coverage for folks.
What a fucking joke we've become.
Thomas Dowling
Boston, MA
Guys, didn't you see the labor sec Solis on CNBS??? According to her, Obama has SAVED over a million jobs already!!! I feel so much better now.
ReplyDeleteSandra T.E.
Good post Dr. P. You hit the nail on the head. It's all bs they are giving us. Doctored #'s to fit their stupid economic models and formulas. BS I tell you plain BS and that don't stand for Bright Sunshine. I have done some digging myself in different areas of statistical data on the economy and believe me the unemployment rate is not 9.8%. The so called real effective national unemployment rate is more like 14% and growing. I hate bad news but I am not an ostrich either.
ReplyDeleteRousos N
Santa Monica
Folks I want you to mark this down and remember you heard it here on the Kong's blog from me Saint John from St. Louis. Mark it down now.
ReplyDeleteI Saint John from St. Louis hereby predict that by the end of 2011 the American dollar will no longer be the international currency for trade. In fact the U.S. $$$ will be one of the most worthless currency in the world. Second only to the currency of Zimbabwe.
Saint John
St. Louis
P.S. Yes that is my real name so don't write back asking me.
We have outsourced our manufacturing to cheap labor in India, Vietnam, China, etc... if you are a non-college educated person, what type of jobs are you going to get? You used to be able to get a good job in a factory. After we shipped those jobs out, you could work in construction and make a good living. Now what will take the place of the construction bubble that kept so many employed? Unfortunately, we can't all be Wal-Mart greeters.
ReplyDeleteI realize that globalization is a complicated topic... but it certainly seems to have been an unqualified disaster for the lower and middle class in America. In fact, it seems as though the middle class itself is becoming an endangered species. You are either part of the financial elite, or you aren't. It's sad, what has happened.
Can't we just 'make believe' everything is better and it will be?
ReplyDeleteElliott
30 something new yorker here. employed. Not happy, but steady work and steady paycheck. I will not complain about my company as long as I am receiving that paycheck. Fortunately for me, I work in risk management and am a necessity here. Since I am not over paid, I do feel VERY safe. I feel for all of you not working right now. Don't give up....
ReplyDeleteby the way....wife works also. If not for her being there 20 years, and theonly one who knows how to use the payroll system there, she too could have been let go some time back.
Frank Tubbs
Queens, NY, NY
Dr. Politikong thank you for continuing to tell us the truth.
ReplyDeleteMy story:
I lost my job back in July due to my boss being completely inept. He let me go due to there not being enough work but I had to watch as he on multiple occasions lost out on contracts due to being too expensive or just plain missing deadlines or meetings. I always told people that I was way to valuable to the company to be let go but it turned out that I was not as valuable as my bosses standard of living. Million dollar house, SUV's, boat etc. His loss.
For the past few months I have made some drastic changes. My unemployment checks amount to $1800 a month before taxes. I've got 4 or so months left plus extensions. I live in the bay area. My strategy:
1. I stopped all discretionary spending. I buy almost nothing. I have friends and the outdoors which are much more valuable than anything I can buy with a couple dollars. I own a car (No payments except insurance and I walk most places so maintenance is low) a pay as you go cell phone ($15 buck initially plus whatever I use minutes wise) an internet connection and a gym/yoga membership (to keep me sane). My total expenses for the month are maybe $1200 a month with rent and food. $1800 - $1200 = $600 to save a month. My friends have also been saying that I am actually looking better and feeling happier now than I was before. I have to agree.
2. Right now I am working for free for anyone who needs help. I know that eventually someone will see the value in me and offer me a position. I am also willing to work almost anywhere. Send me to remote Canada or war torn Africa. If times are tough I will be tougher.
I guess I am lucky in that I am 25, healthy, no debt, an excellent college degree, no dependents and a good friend/family network.
Dino
Capitalism my ASS! The reality is that capitalism has proven to be as bad if not worst than communism. I don't know what kind of economist system we are going to come up with but one thing's for sure. We have to come up with something new. Totally new!
ReplyDeleteThat's my humble opinion.
Leo Santos
California
What's with all the negativism on here, didn't everyone hear? The chairman of the fed, Ben Bernanke said "The recession is over".
ReplyDeleteCheer up ffs.
Jordy P.
NY NY
I like Elliot's idea of make believe. I will up it one. Let's all sit around smoke some BC pot and start singing happy songs and share the love. Sorry I just woke up. Our country is REALLY fucked.
ReplyDeleteI have applied to move to Canada. I hope I hear from them soon. The American Dream has now become the American Nightmare.
Richard Streib
Buffalo NY
DR. Politikong, kudos.
ReplyDeleteThe Obama administration and the representatives of the banks, Congress that is, are trying to convince us that we can have " a jobless prosperity". You will have none of it and I salute you for your honesty and resolve. Not many left telling the truth anymore.
Adriana Emmitt
Chicago, IL
US Economy = Dead Man Walking
ReplyDeleteBruce
People that have been fired and are jobless are NOT "unemployed".
ReplyDeleteThey are "workers on the sidelines". They are just waiting for the job market to improve.
Let that one sink in for a minute.
Gary Stevens
Manchester, NH
Wake up wake up every body, didn't you hear Bernanke said "The recession is over". It's over it is finally over. Good now let us all get together and find Bernanke and his "friends" and hang the bastards by the neck. As far as the jobless recovery goes, bs that is. The only way you are going to have a jobless recovery is via communism where the government pays for your existance. Ask the Russians how well that worked for them. Let's face it people the Empire that Never was (U.S.A.) will now, Never Be!
ReplyDeleteWe done. Fried!
Jerry Lowitt
New Jersey
WE HAVE 30 MILLION UNEMPLOYED TODAY, BERNEKE SAID YESTERDAY IT WILL CONTINUE FOR A YEAR OR MORE AND NOW WITH THESE LIES ADMITTED
ReplyDeleteWE WILL PROBABLY BE AT 60 MILLION UNEMPLOYED BY THE END OF THE WINTER
AND HEY FORGET THAT AND THE WAR
HOW BOUT THAT COMMIE HEALTHCARE BILL
THIS IS WHAT WE GET FOR PUTTING A BEGINNER IN CHARGE OF DEPRESSION II.
.....Just curious.......lets say I lose my 40-hour a week job. I find a part-time job for 5-hours a week and chump-change money. Do I now go into the "part time jobs or hours cut for economic reasons" category of 9.179 million people? AND, the 12-14 million 1099 people and these 9.179 million "part-timers" are NOT in the U-3 category, at all, correct?
ReplyDeleteSteve K.
@ ANON 1:26 PM
ReplyDeleteBy "beginner" are you referring to Geithner, or Summers, or Diana Farrell, or Laura Tyson, or Richard Holbrooke (now wait a minute, he's got all that experience from AIG), or Robert Hormats, or Henry Kissinger, or Gary Locke, or Gensler, or Tara O'Toole, or....?
After all, these people are ALL experienced Wall Street lobbyists or biopharmaceutical lobbyists!
Chris Matthers
NYC
It's good to see this blog come alive with good contributions. Let's hope our white hooded friend from Texas forgets about us for a day.
ReplyDeleteChad Romans
St. Louis MO
@ Chad Romans
ReplyDeleteSt. Louis MO
Chad very well said "...hooded friend from Texas". If I see any more of his nonsense illiterate comments I swear I will personally go to Texas and find him.
The Politikong blog is again attracting excellent and informative commentary. I just love it. So many people contributing good stuff and comments on the Dr.'s blog. Good to see it again.
Chris Shaulman
KY.
P.S. Good job Dr. PKG
Great blog and comments today.
ReplyDeleteHat tip to the Dr.
Lynn Simon
SF CA
@ Lynn Simon
ReplyDeleteSF CA
How true Lyn. Just like the Dr. said. These big shots should take a walk away from Wall Street and go down main street. Go and talk to the Real people. Just like the Dr. said. There is no spirit left in some of these people. Lost jobs, friends family homes. One has to wonder how much worst can it get?
Lisa Martin
NYC
Come on you people you are so pessimistic. You are letting your fears turn into paranoia. We have been here before. This is just more of the same. Admittedly much more but still we know we will come out of it. Have faith. If we don't god help those wall street bastards when I get my hands on them. So relax. All is cool!
ReplyDeleteJack N.
Your next door neighbour from Chicago.
The only good thing about all this mess is that now we all have an excuse not to buy Xmas presents for anyone. For those with kids you can just tell them that because of the economic down turn, God's toy factory lost 60% of its profits due cheap Chinese imports so he had to shut Santa down. You wouldn't be that far from the truth you know!
ReplyDeleteSo Dona darling in case you go on this blog, don't expect a present of any kind this year. And you can explain the same to the kids too.
Lukas
(of no fixed address).
oh btw good article kong as always.
Excellent work everyone. I live in NY and just lost my job. My wife has being told she will be let go in four weeks too. We have two children one is headed for college next year. We had all these great plans how we were going to help him out with his tuition, now we have to budget everything. We are a little better off than some people as we saved a bit in the last 20 years so hopefully we can weather out the storm. But I definately understand what the Dr. and all of you are saying. I am with you.
ReplyDeleteHenry S.
NY City
Livin' on the dole baby.... why work when uncle sam can make the payments........we just need more 'stimulus' taxes...load on some more, surcharges, health insurance... lay some higher unemployment charges on small business, kick up the percentage businesses have to pay against their payroll...this is a new version of social security on the backs of those that 'can'...wait until those that 'can', can't take it anymore...then we can talk turkey.....what a fucking mess.
ReplyDeleteHugh W
Sacramento, CA
I would like to make the point that for years we exported our manufacturing economy, first to japan, and then elsewhere..... We made up for the loss in wealth creation by selling off some assets and borrowing a little.
ReplyDeleteBut that's okay, because we became a service, value add, and intellectual economy.
But then, we began to export our value add economy, but that's okay, because we substituted finance, insurance, and real estate.... We made up for the loss in wealth creation by selling off more assets, and borrowing a little more.
But then we began to export those service jobs that didn't require face to face interaction between servicer and client..... We made up for the loss in wealth creation by selling the last of our good assets, and borrowing a lot more.
But then we began to export the intellectual economy by outsourcing our software design, engineering design, insurance underwriting, and other industries that didn't require face tame with the client..... We made up for the loss in wealth creation by borrowing even more money, and print up a little bit extra...
And when the finance blew up, and insurance blew up, and real estate blew up..... There was no way to make up for the loss in wealth creation.
The moral of the story?
We killed our golden goose for a feast, instead of being satisfied with just a slow steady stream of eggs.
Ben Ward
San Diego, CA
Excellent and sobering blog.
ReplyDeleteMethinks they're smoking, drinking, wearing blinders, and are much worse than the infamous Iraqi spokesman. It's a battle against deflation and deflation is winning.
Time for more cans, lead, and water filters....
Stanley Hough
In the Sacramento Areas there are over 8000 homes vacant and waiting to be sold, and people are still loosing jobs and small business is getting killed. Things are worse than the good ol US GOV is letting on.
ReplyDeleteJim Kearns
Sacramento CA
I am direly concerned about the lack of capital to create valuable jobs, not washing each others laundry jobs.
ReplyDeleteModern production, engineering development and biochemical research take enormous amounts of money to develop jobs. Manufacturing requires robots to get more out of each employee. Computer engineering requires billions to establish new fab sites. Biotech requires well kitted labs with MRIs, animal facilities, and expensive chemical feedstocks along with all the glassware and infrastructure.
The government is killing job creation by stealing savings through its numerous rescue programs and money printing. We don't need banks. We need money in the hands of individuals who can invest in capital projects. All that debt is an overhang on business credit needed to conduct factoring and general business inventory creation and management.
Kathy Wood
(Devon Hills, Sonoma County, CA)
@ Ben Ward
ReplyDeleteSan Diego, CA
I couldn't have said it better my self bro. Right on man we killed the goose that laid the golden egg.
Carlos J
San Fran
Dr. Politikong that was a great post or rant - whichever!
ReplyDeletePete
@ Kathy Wood
ReplyDelete(Devon Hills, Sonoma County, CA)
Kathy here is the reality my dear.
The Government didn't kill any jobs. WE DID it. Yes WE. Let's stop blaming the government. We keep voting these bastards in term after term after term, and believe me there's not much difference between Dems and Reps. We vote them in and when they screw us over we bitch and complain. That's the problem with the two party system and they know it. The give us a ton of B.S. during the campaign and we give them a ton of taxes when they are in power. And all because we are so disgustingly gullible. So let's do something to change the entire political system or let's shut up and take it in like we've been doing since the creation of this nation.
Pavlos N.
Monterey CA
There is no recovery at all. The US desperately needs jobs and the government wants to try to ignore this truth, and hope that the dumb peasants aren't paying attention.
ReplyDeleteCheck out: http://www.prospect.org/csnc/blogs/beat_the_press_archive?month=10&year=2009&base_name=the_economy_loses_824000_jobs
http://www.huffingtonpost.com/2009/10/02/washington-doesnt-get-it_n_307882.html
http://www.huffingtonpost.com/robert-reich/the-truth-about-jobs-that_b_307642.html
http://www.huffingtonpost.com/mike-lux/bankers-and-workers_b_308708.html
Jose Espinosa
Albuquerque NM
Let's list the known current lies from our wonderful government
ReplyDeleteCPI
Inflation
Unemployment
Number of Uninsured
Number of homeless
Number of rapes
Number of Illegals invaders
Money Supply (M1, M2, M3, etc)
Truth on Global Warming
Truth on H1N1, H5N1, etc.
Truth on 9/11
Truth on AIDS
Truth on Iraq
Truth on Iran
and on and on and on. Our government is useless. We would all be better without it.
M.H.S
Las Vegas
California was making payroll and paying bills with IOU's up to September. My city has been looted $10 million and neighbor city looted for $12 million under protest of course. That is how California state is dealing with their budget. California is a fucked up over taxing business hell hole with idiots that can only think of raising taxes.
ReplyDeleteJeff Mullins
Los Alamitos CA
Just to clarify. California is still paying with IOUs. It's just that instead of public IOUs they are going through JPMorgan and paying a premium for the obfuscation.
ReplyDeleteJeff
No doubt, no doubt, Ducky is gone and the Kong is BAAAAAACK.
ReplyDeleteHow did I know?
I had to scroll through 47 good comments.
Gerry Norcia
Seattle WA
Unemployment is setting new records.
ReplyDelete…What this tells me is…..
1/
Millions of California illegal aliens will be sent packing…so the unemployed can find work….from farming to daycare.
2/
The U.S. will invade Cuba…and call it Nationalism.
3/
California will legalize “Pot”, then completely close the U.S. Mexican border.
What do you think?
M. Arpino - California
I hear the US military is hiring!
ReplyDeleteNothing to see here folks, move along, move along.
ReplyDeleteFrom today's USG/MSM spin machine:
"Treasury Secretary Timothy Geithner said signs of economic recovery are “stronger” and have appeared “sooner” than expected, while reiterating it’s not yet time to roll back stimulus programs.
Financial conditions have improved “dramatically,” particularly in the U.S., where the housing market has stabilized, Geithner said in a statement issued in Istanbul today. Still, jobless rates are “unacceptably high” and the financial system remains damaged. As a result, it’s too soon for governments to withdraw stimulus, Geithner said."
IS THERE ANYBODY IN GOVERNMENT CAPABLE OF TELLING THE TRUTH?
Mike S.
Los Angeles, CA
Mike S.
ReplyDeleteLos Angeles, CA
October 4, 2009 3:20 AM
Answer to your question Mike: NO!
BTL