Friday, January 8, 2010

Horrifyingly funny numbers from the US

The idiots are still seeing “green shoots” and they are desperate to sell you that load of crap. Especially in America where the warmongering president is struggling with so low approval ratings that even Hairless W Chimp before him can laugh. Fighting endless wars, running trillions of dollars in deficit and when even lefties are starting to question his magnificence he needs those numbers to spell promises, and so the spinning machine is working harder than even the printing press.

Fewer industries were hiring in December than in October, and the number of discouraged workers rose by 287,000 over the year to 929,000. The employment-participation rate fell to a 25-year low 64.6% from 64.9% as the labor force fell by 661,000, the largest decline in nearly 15 years. The unemployment numbers continues to decline and retail numbers are not showing any improvements.

We also learn that the drop in credit card debt outstanding is on the largest on record since The Fed started keeping those records in 1943! Although I would argue that long-term this isn’t such bad figures, right now they must be scaring the living daylights out of Washington. Their entire scheme is contingent on people shopping like crazies. That people have no money is non-existent in the far, far away world of politicians.

California is facing a deficit of $41.6 billion - nearly half of projected revenues, and that state isn’t alone in such dire straits. It is just a matter of time before the US government feels the need to bail out a state, and that would be Game Over in so many ways.

The American stockmarket is around 50% overvalued on the best long-term measure, which adjusts profits to allow for the economic cycle. They are trading on the presumption that GDP will go up 4-5% each year, and they’ve been doing so for a long while now.

I could go on and on, but these figures and many more don’t stand alone, these are merely ‘new’ problems, the old ones, the shit that got America (and the rest of us) into trouble in the first place, still remains! The toxic assets, the lose credit lines, the decline of the USD, the fraudulent business dealings of Wall Street and government controlled banks, and the growing expansion of public debt are still there, now even worsened!

Far, far worsened!

You need to get this into your heads people. Things were bad a couple of years ago, I and many others told you so, things crashed, but ‘thanks to’ the printing press and trillions in deficits the problems have been swept under the rug. It is still there.

So what do you think will happen the next time around? The same problem as during our latest little debacle but worse yet plus additional and growing problems being inflated for every day that passes. What do you think that equals?

Basically, America is fucked, big time. But don’t you worry kids, the rest of us follow soon after.

I wonder if they are going to pull a ray-gun or cold fusion out of their hats soon, anything sort of that cannot save the crashing and burning. Well, maybe an Alien invasion could do the trick, but why would anyone want to come to this stupid rock?

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