by Bob Rinear, The International Forecaster:
We are NOT fine folks. They’re white washing everything, trying their best to keep the imminent implosion from happening. Things aren’t fine when everyone’s screaming that we need lower interest rates and they’re at 2% now.
What a terrible title for an article, eh? Indeed. But the fact of the matter is that “they” think you’re stupid. Who’s they? The mutants that deliver us the “news”, the Wall Street con men, the CNBC talking idiots.
They must think you’re stupid, because day after day, almost to a man, they say there’s no real danger of recession, that things are going along perfectly, the economy is robust, and a zillion other fairy dust stories. It’s all BS.
On the very same TV show, or radio show where they have just announced the worst ISM numbers in years, the guests say we’re doing fine. Minutes after horrific auto sales news…things are terrific. Moments after announcing crashing big truck sales…the economy is firing on all cylinders. Seconds after PMI numbers not seen in years…no recession in sight.
They must think you’re dumb as a box of rocks. How can these people look straight into the camera and tell you that “we’re in a great spot, the economy is doing fine, yet not overheating” When they just told us that US Factory Orders Contracted In May, Lowest Since Aug 2016? Huh?
ADP small business employment report ( 1 – 19 employees) falls to 2008 levels. How can you possibly lie to people and tell them that the economy is great with news like this? There should be an Olympics for lying, these people would get the gold.
This was from CNBC’s website: Payroll growth rebounded sharply in June as the U.S. economy added 224,000 jobs, the best gain since January and running contrary to worries that both the employment picture and overall growth picture were beginning to weaken
Excuse me? Rebounded sharply? Let’s sniff around this for a minute. First off, the BLS birth/death model added 102,000 jobs to the report. Jobs that don’t exist. Secondly, the number of multiple-jobholders soared from 7.855 million to 8.156 million, a monthly surge of 301,000 – the biggest since July 2018, and an indication that the jobs number was far weaker than the headline represents if one excludes all those workers who represented two jobs to the BLS’ various surveys. Multiple Jobholders have actually Soared To Record Highs. Finally, jobs for people in the prime working years, actually FELL.
Why are all these people working TWO or more jobs? 1) they’re broke and can’t pay the bills, 2) the inflation that the Fed says doesn’t exist is killing people, 3) most full time positions now are really only 30 – 35 hours, with no bennies.
So, the jobs number wasn’t “fantastic” as more media liars claimed, it was horrid. Yet they think you’re stupid. You won’t notice their baloney.
But probably the biggest con of all is coming over the next several weeks. It’s earnings season folks, and guess what? 82% of the companies pre-announcing earnings revisions are guiding down. That’s the second most amount of warnings, EVER.
So, here’s the con. They know their earnings stink, so they warn and lower the Street’s expectations. Then on announcement day, they “beat by a penny” and “boom” the stock goes up. Pure manipulation. They think you’re too stupid to understand that.
This week, not a single day will go by without a Fed head yakking somewhere. Oh and yes, the head yakker, Mr. Powell will be talking this week. They’re going to listen to every syllable of that, trying to see how much economic heroin he’s going to inject at the end of the month.
They want 50 basis points. I don’t think they get that, but I do think he’ll cut by 25.
By the way, let me post a few things about these banksters that have been said throughout the ages:
“The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers.” — Congressman Louis T. McFadden (Rep. Pa)
“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.” – Henry Ford, founder of the Ford Motor Company.
All problems, depressions, wars, disasters, assassinations ‒ all of them were planned, caused, instigated, and implemented by the international bankers and their attempt to establish a central bank in every country in the world, which they have now done, thanks to corrupt politicians who have been bought and paid for. This is all you need to know about the history of the world.” ‒ Mary Elizabeth Croft
I really couldn’t say it any better.
So, the fact of the matter is that the economy is creaking and groaning. The debt levels continue to expand exponentially. We now have 13.3 TRILLION dollars globally receiving ‘Negative interest rates”. Oh and by the way, the next person nominated to head the European Central bank is Christine Lagarde, a CONVICTED criminal. This is what she said about rates: Negative Interest Rates Benefit the Global Economy, Says IMF Chief Christine Lagarde.