Archive for January, 2011

The US Commerce Department has just released it 2010 Q4 GDP advance report.  It indicates that GDP rose by 3.2 percent from October through December.  The data used is incomplete and subject to revision according to the release, but it looks like Santa Claus came to town.  The numbers are also victims of intentional misrepresentation bordering on outright fraud.  Since 1980 the agencies charged with reporting economic statistics have been revising those numbers to make them politically more palatable to hide the destruction of private wealth in the United States perpetrated by the Federal Reserve and the Federal government.  When you look at real numbers calculated as they were in 1980 by John Williams of Shadow Government Statistics, a very different picture emerges.     More »

Tuesday night’s grand entertainment spectacular, the President’s State of the Union address, seems to have been duly reported and completely ignored.  No address by a President has ever said so little while purporting to be so substantial.  Essentially what we heard was that if we take stock of ourselves and make some hard choices to reduce the deficit we can continue to spend beyond our means and enjoy the same debt financed high life that got us into the fiscal predicament that we are now facing.  If only I had found this earlier I might have watched, although Wednesday could have been rough as a result.     More »

We, the American people, and the rest of the world are facing a terror created in the run-up to WW1, an incrementally slow mindless beast that continually grows based on the lies and public relations of Washington DC.  The monster is cloaked and hidden from view.  It is denied by nearly all who see its effect, but don’t want to consider their complicity in its perpetuation.  It wreaks havoc and lays more destruction on top of the foundations of demagoguery that it purports as truth via its daily propaganda.  It flouts its power in the romantic old Roman fasces on the walls of Congress.  This gargantuan demon is American Fascism.     More »

Looking for the next government induced debt bubble to explode?  Look no further than the student loan market for the next colossal bailout to hit our government mandated banking cartel.  Student loan debt now exceeds the amount for credit cards in this country with far fewer people responsible for paying the outstanding bills meaning that the amounts owed by individuals are far higher on this type of obligation.     More »

Caveat emptor.  Let the buyer beware.  Most transactions that we engage in don’t require us to take on this cynical, defensive view of the world.  Most sellers of goods and services act in manner that is beneficial to their customers because their customers would leave en masse if they thought they were getting screwed.  When it comes to government and banking, however, everybody thinks they are getting screwed, but they can’t exit the system because the government forbids them to interact with bankers that aren’t part of the sanctioned cartel.  Caveat emptor?  How did we get here?     More »