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| Economy |
| Barry's psyops campaign masks reality - Jesse's Café Américain |
| 2010-03-10 |
| The propaganda campaign by the US government is trying to mask the fact that the economic recovery plan is failing and that America is rapidly losing confidence in Team Obama. You cannot have a sustained recovery without changing the underlying conditions that caused the failure in the first place. In addition to the media blitz dissected by Yves Smith in the essay excerpted below, I have never seen such a load of rubbish being put forward with regard to the markets in US financial assets and commodities, and I have seen quite a bit in the last twenty years. In particular, the campaigns against gold and silver in particular are heavy-handed, obvious, and reaching the point of hysteria. The shorts are trapped, hopelessly trapped, and unable to deliver on their massive short positions. They are only able to manipulate the price in short term bursts, and continue to dig themselves deeper as the world demand continues to drain them. Whoever heard of a bubble in which the major money center banks are so perilously short it? A bubble requires a broad participation and belief, and the encouragement of the market makers. And now a statement from an "SEC official" that there is a gold bubble. This, from the very people who allegedly could not see the tech, housing and credit bubbles until they fell on top of them. And of course there are the funds and the wealthy, who mouth the same party line while lining their portfolios with huge positions and personal holdings. Various exigencies can compel the big players to make statements swearing gold and silver are no good, no store of value against all the evidence of history. But the fact remains that the US dollar reserve currency regime is falling apart, tumbling like the humpty-dumpty construct that it is. And the status quo is shitting their collective pants about it, and the likely backlash from the public when their deceptions are exposed. Don't expect the Ancien Régime fiancier to fall easily, quietly, or quickly. But it will change; change is the only inevitability. And we all suspect what will remain standing when the dust settles. All this noise seems more like haggling over a larger quantity for a better price, and a clearer path to the exit. Even the liberals are beginning to notice and take heed. |
| Posted by:Besoeker |
| #5 The real economy functions on the individuals reciprocally exchanging their time ....for the things in boxes. |
| Posted by: Besoeker 2010-03-10 21:26 |
| #4 People who are obsessed by things in boxes (manufacturing) and exports know nothing about the real economy. If there's not a demand for things in boxes then making them is pointless. The real economy functions on the individuals reciprocally exchanging their time and the comparative advantage this creates. This naturally maximises demand fulfilment and quickly responds to shortage. |
| Posted by: Bright Pebbles 2010-03-10 20:16 |
| #3 can someone explain what kind of manufacturing base is even possible in this day and age that would provide large scale job potential? None! We've eaten the seed corn. |
| Posted by: Besoeker 2010-03-10 20:09 |
| #2 JohnQC and all knowledgeable Ranties, can someone explain what kind of manufacturing base is even possible in this day and age that would provide large scale job potential? It seems that all the mass employment areas have long since been transferred to computerized equipment and that there are no auto-industries that could gainfully employ large numbers of relatively untrained workers. This isn't the depression when thousands of backs with shovels are needed. I'm not a luddite and not averse to progress but I don't have a vision for a new economy with a high number of well paid jobs. Heck, there's even less need for programmers than 25 years ago do to the amount of automation in that business. (30+ years in software here so I know what I'm talking about) Where are the jobs that make good money in the new world and how are people going to be trained to fill them? It seems that high paying jobs for most people was also a bubble that is bursting. |
| Posted by: Alanc 2010-03-10 19:08 |
| #1 These morons in Washington have screwed up the economy royally. You can't have a sustained recovery without a manufacturing base that provides good long-term jobs for people. About the only people doing well in this recession [depression] are politicians, government workers, and the financial people on Wall Street that helped get us in this mess. You cannot have a healthy economy when it is all directed from Washington and when it ignores the private sector. |
| Posted by: JohnQC 2010-03-10 18:48 |