-----Original Message----- From: pop ulist [mailto:] Sent: Tuesday, September 22, 2009 9:33 PM To: undisclosed-recipients:
The FACTS, sent by a friend. In today’'s America, the only incomes that rise are in the financial sector that risks the country'’s future on excessive leverage and in the corporate world that substitutes foreign for American labor. Under the compensation rules and emphasis on shareholder earnings that hold sway in the US today, corporate executives maximize earnings and their compensation by minimizing the employment of Americans. [Plus constantly forcing more "efficiency per worker" on American workers while at the same time cutting employee "costs," wages, benefits, etc. - Tony B.] The worst part of the decline is yet to come. Bank failures and home foreclosures are yet to peak. The commercial real estate bust is yet to hit. The dollar crisis is building. When it hits, interest rates will rise dramatically as the US struggles to finance its massive budget and trade deficits while the rest of the world tries to escape a depreciating dollar. [For the uniformed, because our medium of exchange is criminal private bank credit LOANED at INTEREST into circulation, when INTEREST RATES rise the price of absolutely everything rises with them. - Tony B.] Since the spring of this year, the value of the US dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14% against the dollar. Every hard currency from the Canadian dollar to the Euro and UK pound has risen at least 13% against the US dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25% against the almighty US dollar. Even the Russian ruble has risen 13% against the US dollar. What sort of recovery is it when the safest investment is to bet against the US dollar? Countering concisely, accurately and simply the media bull about the depression "bottoming out," "recovering," etc. (but jobs still diminishing - what kind of nonsense is that - how can an economy recover when more and more people are losing their means to exist - and even worse for the phony economists' arguments - their ability to spend money? These are the idiots and corporate prostitutes who constantly squeak out their mantra that consumerism is necessarily a huge percentage of the economy. Yet they are now telling us that the economy is recovering while more and more "consumers" are losing the means to consume.) FACTS below. Tony B. The unemployment rate, as reported, is a fiction and has been since the Clinton administration. The unemployment rate does not include jobless Americans who have been unemployed for more than a year and have given up on finding work. The reported 10% unemployment rate is understated by the millions of Americans who are suffering long-term unemployment and are no longer counted as unemployed. As each month passes, unemployed Americans drop off the unemployment role due to nothing except the passing of time. [Double the official unemployment numbers and you will be fairly close to the actual number - for the moment, anyway. It will get much worse before it gets any better. - Tony B.] The inflation rate, especially “core inflation,” is another fiction. “Core inflation” does not include food and energy, two of Americans’' biggest budget items. The Consumer Price Index (CPI) assumes, ever since the Boskin Commission during the Clinton administration, that if prices of items go up consumers substitute cheaper items. This is certainly the case, but this way of measuring inflation means that the CPI is no longer comparable to past years, because the basket of goods in the index is variable. [Not to mention that more and more Americans cannot switch to cheaper items any longer as they did that long ago and now can not even afford the cheapest, the prices of which are already on a fast rise. - Tony B.] The Boskin Commission’s CPI, by lowering the measured rate of inflation, raises the real GDP growth rate. The result of the statistical manipulation is an understated inflation rate, thus eroding the real value of Social Security income, and an overstated growth rate. Statistical manipulation cloaks a declining standard of living. In bygone days of American prosperity, American incomes rose with productivity. It was the real growth in American incomes that propelled the US economy. In today’'s America, the only incomes that rise are in the financial sector that risks the country'’s future on excessive leverage and in the corporate world that substitutes foreign for American labor. Under the compensation rules and emphasis on shareholder earnings that hold sway in the US today, corporate executives maximize earnings and their compensation by minimizing the employment of Americans. [Plus constantly forcing more "efficiency per worker" on American workers while at the same time cutting employee "costs," wages, benefits, etc. - Tony B.] Try to find some acknowledgement of this in the “mainstream media,” or among economists, who suck up to the offshoring corporations for grants. The worst part of the decline is yet to come. Bank failures and home foreclosures are yet to peak. The commercial real estate bust is yet to hit. The dollar crisis is building. When it hits, interest rates will rise dramatically as the US struggles to finance its massive budget and trade deficits while the rest of the world tries to escape a depreciating dollar. [For the uniformed, because our medium of exchange is criminal private bank credit LOANED at INTEREST into circulation, when INTEREST RATES rise the price of absolutely everything rises with them. - Tony B.] Since the spring of this year, the value of the US dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14% against the dollar. Every hard currency from the Canadian dollar to the Euro and UK pound has risen at least 13% against the US dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25% against the almighty US dollar. Even the Russian ruble has risen 13% against the US dollar. What sort of recovery is it when the safest investment is to bet against the US dollar? -- Understanding of economics surpasses all other peace. *** exposing the hidden truth for further educational research only *** CAVEAT LECTOR *** In accordance with Title 17 U.S.C. 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