If you are old enough to remember the Joe Isuzu commercials, then you will realize what the media full-court press is attempting. Of course, Joe was great fun while our media desperately want you to believe there is a recovery. There is none and will not be one for quite a while.
Do not fall for their cheerleading. It will be harmful to your wealth.
James Quinn, is the exact opposite to Joe (sometimes to a fault). He is not one to pull punches. Here is his take on the economic recovery:
The consumer confidence index dropped to 50.4 in July. After 18 months of Keynesian stimulus and $2 trillion added to the National Debt, consumers are less confident than they were in May 2009 at the height of the crisis. It appears that the only people who are confident about the future are the criminals on Wall Street and the criminals in Washington DC. They are collecting bonuses and hiring like there is no tomorrow. The MSM cheers on the fraud, but the average American is coming to the realization that the ruling elite are screwing them again. There are no jobs in the real world. Small businesses are closing up shop. Consumers aren’t able to pay down debt. That is a lie being perpetrated by the MSM. The reduction in consumer debt is from bank writeoffs. Taxes are going up at the local, state and Federal level in the next 6 months.
The Case Shiller home price data showed an increase in May. Shocking. The government gave away your tax dollars to morons so they could buy houses. This artificially juiced demand. Come and see me in September and October when prices have plunged because the artificial stimulus is long gone. The MSM still reports as if the housing market is well on its way to recovery. Are they just plain stupid, or is this part of a master plan?
The average American’s lack of confidence is totally justified. The morons on CNBC who all make a million dollars per year and live in NYC penthouses are perplexed at your lack of confidence in the future. Why don’t you ignorant masses get out there and spend, so the economy can recover. You are being unpatriotic by not spending. Keynesian theory says you should be spending by now. What the hell is wrong with you? Get out there and lease a BMW SUV. Whip out that credit card and get that 52 inch flat screen. Take a vacation to Disney World. You confidence-less pussies are ruining the party for the ruling elite. While your at it, could you buy some stocks? The computers at the mega-criminal banks are getting tired of trading between themselves.
Read the full article here.