As usual media is totally oblivious to what is going on. Why won’t they even try to check? It isn’t hard, some basic understanding of math and a couple of minutes to spare and you can see through the scam.
According to media two “good” news came out yesterday (2010-03-30) that lifted Wall Street.
The first was higher prices on housing. This isn’t good news, its horrible news, in fact it is the worst news we could get from across the Atlantic. Housing prices are still way, way over normal since the inflator policies started after the dot-com bubble burst.
There are three reasons for this. Firstly all the government scams with contributions thrown at house buyers. Secondly the banksters that continue to show profits when they in reality have totally defaulted. Their books have been cooked and banks are overvalued by somewhere around 30-40% if we look at the already crashed banks. They buy housing and real-estate from themselves to keep prices up and they continue to hand out loans to people that shouldn’t have ‘em. The third, and most ominous reason, is that those trillions freshly printed bills are finally hitting the market. This we don’t really know yet, but it is likely since it usually take 1-2 years before such inflation comes out on the market and they are starting to be due.
If the housing market were showing improvement and was healthy the prices would go down, way down.
The second “good news” was that confidence among U.S. consumers climbed in March as Americans perceived employment was starting to improve. This is a very convenient interpretation.
The Conference Board’s confidence index rose to 52.5, but the market's expectation was 55. And even though employment numbers have stopped falling so sharply, they are still going down. Down 23,000 in Mars early figures show. So how come people feel that the labor market is better? I would guess it is those government scams with tens of thousands of useless laborer doing useless tasks to hide the real numbers. Also, more and more citizens take themselves of the unemployment line, seemingly lowering the total amount when it in actuality gets higher.
And consumer spending, that make out around 70% of US GDP went up slightly, but since personal income is flat, and that's with the crazy government handouts, personal income is down for the second consecutive month (0.2% January and February), indicating that consumers are (again) spending money they don't have.
To conclude, nothing has changed. The bubbles are still there, real unemployment levels are still on depression heights, the system hasn’t been purged from toxic assets or derivatives, banks are still defaulting and debts continue to increase.
How in hell is this good news?
People are deluding themselves and media is perpetuating the hoax sold by government and the Wall Street mafia.
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