A U.S. Government Christmas Fairytale
December 24, 2014Financial Markets, Gold, Housing Market, Market Manipulation, Precious Metals, U.S. Economy
Life’s but a walking shadow, a poor player
That struts and frets his hour upon the stage,
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing. (Macbeth, Act 5, Scene 5)
I guess if you believe in Santa Clause, the Easter Bunny and the Tooth Fairy then you are willing to believe the economic fairytale the Government has written for this country. I started using that quote from Macbeth occasionally about five years (it started to appear on a lot of other sites after I used it – funny thing, that). It really captures the essence of what this country has become. If Shakespeare were around, perhaps his sixth great tragedy would be about the rise and collapse of the United States.
We have descended fully into an Orwell/Rand’s vision. We have a Government that is corrupted to the core by enormous amount of money from Wall Street and big business. Laws have now been passed which enable the Government/Wall Street to fully extract every last nickel and dime of wealth still possessed by the middle class.
[when] your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed… (Altas Shrugged, famous Francisco D’Anconia money speech)
95% of the people in this country have no idea what’s been done to them. My favorite anecdote is when I advise good friends to get as much money as possible out of their retirement accounts and they respond by saying that they don’t want to pay to the taxes. LOL. Okay, well sooner or later you’re going to wish you had the option of paying taxes on that money…I remember the first time I read Francisco’s money speech. I nearly passed out from the shock at how closely the vision he conveyed resembled the current condition of the United States…
I thought I’d post of a couple of John William’s comments on yesterday’s GDP report. When I saw the headline hit the tape all I could do is laugh – they can’t take laughter away from me – for now, anyway:
The GDP remains the most-worthless and the most-heavily modeled, massaged and politically-manipulated of government economic series. At its core, the GDP does not reflect properly or accurately the changes to the underlying fundamentals that drive the economy. It does not even come close to measuring what most people would consider to be actual economic activity, for that matter.
Contrary to the GDP reporting, real sales of companies in the S&P 500 (deflated by the CPI-U) never recovered pre-recession levels, have been stagnant in recent quarters, and turned down quarter-to-quarter in third-quarter 2014
Without real growth in income, and without the ability and/or willingness to offset declining purchasing power with debt expansion, the consumer lacks the ability to fuel traditional, consumption-based growth or recovery in U.S. economic activity, including not only residential investment and related construction spending, but also retail sales and the still-dominant personal-consumption account of the GDP.
Here’s the link to his website: John Williams’ Shadow Government Statistics
If don’t want to give the gift of easy money to someone by purchasing my homebuilder reports, at least give them the gift of truth by giving them a subscription to his newsletter. It will be the best education money can buy.
Hope everyone has a happy holidays. And as I’ve been known to advise: enjoy what you can, while you can and as much as you can because there’s not telling when we’ll wake up one day to the Final Act and Curtain.
Topic: A U.S. Government Christmas Fairytale (Read 499 times)