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Everything Is Fine, But...

 
Stu
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User ID: 37586140
United States
07/19/2013 11:24 PM

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Everything Is Fine, But...
deflation as far as the eye can see... (look out below)


Submitted by Michael Snyder via The Economic Collapse blog,

Everything is going to be just great. Haven't you heard? The stock market is at an all-time high, Federal Reserve Chairman Ben Bernanke says that inflation is incredibly low, and the official unemployment rate has been steadily declining since early in Barack Obama's first term. Of course I am being facetious, but this is the kind of talk about the economy that you will hear if you tune in to the mainstream media. They would have us believe that those running things know exactly what they are doing and that very bright days are ahead for America. And it would be wonderful if that was actually true.

Unfortunately, as I made exceedingly clear yesterday, the U.S. economy has already been in continual decline for the past decade. Any honest person that looks at those numbers has to admit that our economy is not even close to where it used to be. But could it be possible that we are making a comeback? Could it be possible that Obama and Bernanke really do know what they are doing and that their decisions have put us on the path to prosperity? Could it be possible that everything is going to be just fine?

Sadly, what we are experiencing right now is a "mini-hope bubble" that has been produced by an unprecedented debt binge by the federal government and by unprecedented money printing by the Federal Reserve. Once this "sugar high" wears off, it will be glaringly apparent that by "kicking the can down the road" Bernanke and Obama have made our long-term problems even worse.

Unfortunately, most Americans don't understand these things.

Most Americans just let their televisions do their thinking for them, and right now their televisions are telling them that everything is going to be fine.

But is that really the case?

Everything is fine, but the city of Detroit has just filed for Chapter 9 bankruptcy. It will be the largest municipal bankruptcy in U.S. history...

Detroit filed for the largest municipal bankruptcy in U.S. history Thursday after steep population and tax base declines sent it tumbling toward insolvency.



The filing by a state-appointed emergency manager means that if the bankruptcy filing is approved, city assets could be liquidated to satisfy demands for payment.

Wait a minute, didn't Barack Obama say that he "refused to let Detroit go bankrupt" less than a year ago?

Everything is fine, but continuing claims for unemployment benefits just spiked to the highest level since early 2009.

Everything is fine, but in the month of June spending at restaurants fell by the most that we have seen since February 2008.

Everything is fine, but Google's earnings for the second quarter came in way below expectations.

Everything is fine, but Microsoft's earnings for the second quarter came in way below expectations.

Everything is fine, but chip maker Intel has reported revenue declines for four quarters in a row.


more:


[link to www.zerohedge.com]
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Astral Goat
From the deep space petting zoo...

User ID: 33435073
United States
07/19/2013 11:26 PM

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Re: Everything Is Fine, But...
deflation as far as the eye can see... (look out below)


Submitted by Michael Snyder via The Economic Collapse blog,

Everything is going to be just great. Haven't you heard? The stock market is at an all-time high, Federal Reserve Chairman Ben Bernanke says that inflation is incredibly low, and the official unemployment rate has been steadily declining since early in Barack Obama's first term. Of course I am being facetious, but this is the kind of talk about the economy that you will hear if you tune in to the mainstream media. They would have us believe that those running things know exactly what they are doing and that very bright days are ahead for America. And it would be wonderful if that was actually true.

Unfortunately, as I made exceedingly clear yesterday, the U.S. economy has already been in continual decline for the past decade. Any honest person that looks at those numbers has to admit that our economy is not even close to where it used to be. But could it be possible that we are making a comeback? Could it be possible that Obama and Bernanke really do know what they are doing and that their decisions have put us on the path to prosperity? Could it be possible that everything is going to be just fine?

Sadly, what we are experiencing right now is a "mini-hope bubble" that has been produced by an unprecedented debt binge by the federal government and by unprecedented money printing by the Federal Reserve. Once this "sugar high" wears off, it will be glaringly apparent that by "kicking the can down the road" Bernanke and Obama have made our long-term problems even worse.

Unfortunately, most Americans don't understand these things.

Most Americans just let their televisions do their thinking for them, and right now their televisions are telling them that everything is going to be fine.

But is that really the case?

Everything is fine, but the city of Detroit has just filed for Chapter 9 bankruptcy. It will be the largest municipal bankruptcy in U.S. history...

Detroit filed for the largest municipal bankruptcy in U.S. history Thursday after steep population and tax base declines sent it tumbling toward insolvency.



The filing by a state-appointed emergency manager means that if the bankruptcy filing is approved, city assets could be liquidated to satisfy demands for payment.

Wait a minute, didn't Barack Obama say that he "refused to let Detroit go bankrupt" less than a year ago?

Everything is fine, but continuing claims for unemployment benefits just spiked to the highest level since early 2009.

Everything is fine, but in the month of June spending at restaurants fell by the most that we have seen since February 2008.

Everything is fine, but Google's earnings for the second quarter came in way below expectations.

Everything is fine, but Microsoft's earnings for the second quarter came in way below expectations.

Everything is fine, but chip maker Intel has reported revenue declines for four quarters in a row.


more:


[link to www.zerohedge.com]
 Quoting: Stu


Well said

5 yellow ones for u


I noticed the earnings reports were down yesterday...

Last Edited by Astral Goat on 07/19/2013 11:27 PM
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ceawaves

User ID: 43068007
United States
07/19/2013 11:31 PM

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Re: Everything Is Fine, But...
Deflation..sounds like a 3rd world's economy.
wait....what?

User ID: 25020314
United States
07/19/2013 11:31 PM

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Re: Everything Is Fine, But...
YES!!!
Very well said!
5stars and greenthumb
Oh....be careful little eyes what you see
Oh....be careful little eyes what you see
For the father up above
Is looking down in love
Oh....be careful little eyes what you see
Stu (OP)

User ID: 37586140
United States
07/19/2013 11:35 PM

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Re: Everything Is Fine, But...
they or TPTB know exactly what is going to happen.

They're not stupid.
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Anonymous Coward
User ID: 43664685
United States
07/19/2013 11:45 PM
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Re: Everything Is Fine, But...
We are in the Green Room and real "The Show" is about to begin.

I believe Bette Davis said it best...

Stu (OP)

User ID: 37586140
United States
07/19/2013 11:53 PM

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Re: Everything Is Fine, But...
when Israel attacks Iran (and this is a foregone conclusion) in the next few months, gas prices will spike (also commodity traders/front-runners and insiders are front-running this event right now), setting off the chain reaction in the derivative markets (which includes Treasuries because they are levered as collateral) in which liquidity will vanish and the Greatest Ponzi scheme known to mankind incinerates.

Stock up on booze and cigs as bartering items because you're gonna need em as well as a lot of other people.

Last Edited by Stu on 07/19/2013 11:56 PM
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi