Featured The pie is falling! 1st Qtr statistical revisions show economy in freefall?

This administration has been predicting that kind of growth for five and a half years, and we've yet to to see anything over 1.7%, after other such "adjustments" as were made a couple days ago. There is no defending the economy. It's stagnant, and getting worse, not better. That is illustrated by over 15 million people literally dropping out of the job market since 2009. That is illustrated by the stagnant investment in business expansion -- which begs the question, if the markets are doing so well, why aren't business and industry seeing the benefit?

The answer is simple. The markets are doing nothing but moving paper. Paper profit, paper expansion, paper economy. No jobs, no new production, no consumption. Its all invisible wealth, and when the bubble in housing, stocks and long-term investment bursts ...

... all I can say is, you better have hip waders and an inflatable boat, cause its gonna get waist deep pronto.

Take William Devane's advice: Buy gold. Put it in a wall safe. Leave it there until needed. Which won't be long.

 

You lifted this out of Jim Carney's old media notes, right?

That's the most absurd nonsense I've seen posted here lately.

One, for the last 20 years or more, the markets have not been a true economic indicator, not since the small private investor started monkeying around in the market with a brokerage buffer between him and his money.

Two, you obviously aren't in the home building business, because when the markets crashed, it was because of the panic among lenders because of the pending housing bubble burst crashed home sales overnight. The markets recovered in eighteen months. Nothing else -- corporate earnings, consumer confidence, housing, autos, etc. -- has, except on paper. I've already told you about your fake wealth, so I won't go into that again.

Three, unemployment hasn't recovered either. In fact, what you've totally ignored since I said it is the fact that 15 million people have disappeared from the job market since Obama took office. Employment recovers on the heels of consumer confidence, which recovers only when Mom and Pop America feel comfortable investing in something new and big, like a car or a house. That has never happened since the depression of 2009, regardless of the artificially "upbeat" housing market right now. More on that later in the post.

Since when??? First quarter earnings, the only ones reported this year, were flat to down slightly, as has been the for the last six quarters. All the major corporations downsized expectations a week before releasing their quarterlies. When you make statements like that, it makes me wonder if you really know what you're talking about.

Again, since when??? Because of this?

Your insistence that it isn't fake is indicative of the fact you know it is. It isn't fake because people are really not buying houses -- believe me, even as a very small builder, I know they are buying. But why are they buying? Again, because of cheap money created by artificially low interest rates set by Fannie and Freddie and copied by the private lenders because, if the privates don't match the rates, the Feds will get all the business, since they have virtually no high-end limits on loan amounts anymore.

Your statement proves the fallacy of the supposed corporate earnings and consumer confidence statements. You just admitted the markets are driven by a fake balloon in earnings, a balloon created not by production, but by paper shuffling.

Real consumer confidence is based on the availability of cheap products, made cheap by the ability of companies to produce surpluses, which are possible because of solid investment influx. We have no surpluses because the markets are not up due to investment in products. They are up because of investment in paper. The whole market system right now is nothing more than a futures exchange, with investors not caring whether Ford or Apple get money to invest that will be returned as dividends, but are chasing other investors and the paper they buy and sell. The alleged increase in corporate earnings is achieved on paper, just like all the other fake economic "stability" and "earnings" are achieved. There is no "there" there, ITL. And you are joining the mindless greenback chasers trying to catch imaginary fortunes that are going to disappear in a flash any day now.

My sympathies would be much more heartfelt and real if you weren't one of the major Kool-Aid drinkers I've spoken with on this issue.

Let me know, after all your paper wealth vanishes, how much gold is costing you when you so desperately need it to buy groceries and gas, 'K?

 

And 20,000 millennials are attempting to get into the job market every day! The 15 million is a net loss!! If you're gonna quote statistics, get a clue!

Bloomberg used to be reliable. Then people actually started listening to them. Since then? Just another shill for the NYSE.

These are the same analysts who have been predicting 4% growth for six years, too. Let me know when they tire of being wrong.

Please take note, you're using a report that's nine months old!!!!. See if we can stick to this year, please.

Yeah, why would you want to take the word of a home builder who knows the source of his customer's money??

You're a waste of time on this subject, ITL. Not to mention Bloomberg in a current year, Forbes and Businessweek!! Done here.