Thursday, August 27, 2009
Ok I'm not quite panicked yet, but perhaps my anxiety factor is rising. It seems almost as if there is a concerted effort by the US Government as well as some Wall Street "insiders" to paint a more rosy picture than really exists. I believe they are hoping things will turn around, but things aren't.
-Claims that unemployment numbers are improving are a gross fabrication. People continue to loose jobs....very few gaining jobs. Additionally, once someone stops looking for work, gets a part time job (because it is all they can find) or falls off the extended rolls, they aren't counted anymore. Hidden in yesterdays CBO report was a scare little number...2.3 million MORE people will be unemployed. How the heck is that an improvement?
- Claims the stimulus is working....but it isn't.
-Along with the new report from the FDIC on an increase in failing banks and those on the verge of failure, comes the obvious attempt to hide action behind the scenes. Bailing out banks with money that is itself debt money (remember we (the government) are $11.7 trillion in debt already and rising) seems somewhat insane.
So it begs the question....does the US Government and Wall Street have their heads up their fourth point of contact or are they merely stalling and preparing behind the scenes for what seems to be the inevitable economic collapse of the US?