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The Myth Can’t Hold Much Longer

  • economy
  • 2 min read

The signs that the price of stocks is out of line with the economic condition of the country are everywhere. The level of equity markets is a Federal Reserve pump operation, designed to take citizens’ eyes away from the horrible and deteriorating economy. This pumping of the stock market is designed to make Americans feel richer so that they will spend more than they should. When this market drops (collapses?), those Americans who were deceived by their government will wish they hadn’t overspent based on assumed but fictitious, temporary wealth.

The chart below is a very good indicator of the health of the economy. It shows weekly average sales of gasoline by refiners. Price is not an issue as the data are in physical units. This is merely another, almost irrefutable sign that there is no economic recovery underway. Fortunately, it seems most people are not buying the government’s propaganda about a recovery. Or, they don’t have enough income to maintain their driving habits. I suspect it is the latter.

Gasoline Retail sales By Refiners_0

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