My recent comment on Business Insider (I was responding to a statement by a reader, "Nobody knows what is really going on"): As to knowing what is going on, it's pretty obvious.
The central planners have interfered in the marketplace and destroyed the currency and the economy.
The only way we can get good numbers is to torture the data and pretend that inflation doesn't exist. Thus we can now call negative numbers positive numbers, and lots of numbers ARE positive IF (and only if) the Shadowstats (real) inflation numbers are disregarded.
However, the over-riding facts of high unemployment, record public and private debt, absence of capital investment, etc., make clear that we are reliving a high tech version of the 1930s.
The gold price of course is a direct indicator of the destruction of the economy by our political leaders and government agencies. 
I'd rather have an economy that works, but that is not where we are. It can only repair itself when the real damage is priced into everything, which will hurt a lot of people (and already has).
On the upside, the central planners will be in broad disfavour, and those who exploit their shareholders will be out of a job. I live for the day.....
NOTE: In case you didn't know, San Jose, California is functionally bankrupt. It's one of the richest cities in the world - and it still can't meet its obligations. 2000 city workers have been let go, and obligations are still soaring - they will almost double by 2014, with no corresponding increase in revenues. Read about it here.
This is, unfortunately, the value destruction process at work. It hurts people. We need to get out of the way and let markets start creating value again - without central planning!
Is this too anecdotal for you? Here are 100 US economic facts to feed your mind.
_
No comments:
Post a Comment