And now the economics questions for today. Time to stock up, buy gold, and duck.
By Michael Snyder - BLN Contributing Writer
If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is
now in the middle of a full-fledged economic recovery. In fact, according to Obama administration officials, the great American economic machine has
roared back to life, stronger and more vibrant than ever before. But is that really the case? Of course not. You would have to be delusional to
believe that. What did happen was that all of the stimulus packages and government spending and new debt that Obama and the U.S. Congress pumped into
the economy bought us a little bit of time. But they have also made our long-term economic problems far worse. The reality is that the U.S. cannot
keep supporting an economy on an ocean of red ink forever. At some point the charade is going to come crashing down.
And GDP is not a really good measure of the economic health of a nation. For example, if you would have looked at the growth of GDP in the Weimar
republic in the early 1930s, you may have been tempted to think that the German economy was really thriving. German citizens were spending
increasingly massive amounts of money. But of course that money was becoming increasingly worthless at the same time as hyperinflation spiraled out
Well, today the purchasing power of our dollar is rapidly eroding as the price of food and other necessities continues to increase. So just because
Americans are spending a little bit more money than before really doesn’t mean much of anything. As you will see below, there are a whole bunch of
other signs that the U.S. economy is in very, very serious trouble.
Any “recovery” that the U.S. economy is experiencing is illusory and will be quite temporary. The entire financial system of the United States is
falling apart, and the powers that be can try to patch it up and prop it up for a while, but in the end this thing is going to come crashing down.
But as obvious as that may seem to most of us, there are still quite a few people out there that are absolutely convinced that the U.S. economy will
fully recover and will soon be stronger than ever.
So the following are 25 questions to ask anyone who is delusional enough to believe that this economic recovery is real.
#1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy? In fact, the U.S.
Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing
number of Americans on food stamps a good sign or a bad sign for the economy?
#2) According to RealtyTrac, foreclosure filings were reported on 367,056 properties in the month of March. This was an increase of almost 19 percent
from February, and it was the highest monthly total since RealtyTrac began issuing its report back in January 2005. So can you please explain again
how the U.S. real estate market is getting better?
#3) The Mortgage Bankers Association just announced that more than 10 percent of U.S. homeowners with a mortgage had missed at least one payment in
the January-March period. That was a record high and up from 9.1 percent a year ago. Do you think that is an indication that the U.S. housing market
#4) How can the U.S. real estate market be considered healthy when, for the first time in modern history, banks own a greater share of residential
housing net worth in the United States than all individual Americans put together?
#5) With the U.S. Congress planning to quadruple oil taxes, what do you think that is going to do to the price of gasoline in the United States and
how do you think that will affect the U.S. economy?
Please follow the link for the last 20.