Thread: The Self Sustaining, Downturn Recovery

The Self Sustaining, Downturn Recovery

Author: Mac Slavo- January 10th, 2011
20 Comments

The official story:

The economic recovery that began a year and a half ago is continuing, although, to date, at a pace that has been insufficient to reduce the rate of unemployment significantly. The initial stages of the recovery, in the second half of 2009 and in early 2010, were largely attributable to the stabilization of the financial system, expansionary monetary and fiscal policies, and a powerful inventory cycle.

More recently, however, we have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold.

Read full text of comments at the Federal Reserve’s corporate dotGOV web site

An alternate view from the National Inflation Association:

Great news from Chairman Bernanke today. We are moving closer to a self sustaining recovery. That’s right. We have to raise the debt ceiling because it’ll be catastrophic if we don’t. We have interest rates near zero and the Federal Reserve is monetizing our debt. And, we’re moving into the self sustaining category.

Recovery?

Self sustaining?

Pay no attention to the tens of millions who are unemployed, the 43 million people on food stamps, rising food and energy prices, or the necessity for more debt issuance to prevent a catastrophic collapse. Though Mr. Bernanke does make mention of the challenges we face going forward, his outlook is markedly positive given the real, underlying statistics, some of which can be found at Shadowstats and The Economic Collapse.

Based on past economic predictions from Chairman Bernanke, we can forecast with approximately 99.99% accuracy that exactly the opposite of what he says is happening is actually happening:

“I’m confident that bank regulators will pay close attention to the kinds of loans that are being made, making sure that underwriting is being done right. I do think this is mainly a localized problem and not something that’s going to effect the national economy.â€

The states will be getting hit this year since those Federal Funds are all gone now and states will be faced with very tight budgets. Here in North Carolina it is not looking good. Just tonight on the evening news the foreclosure rates were 1 in 34 in this area alone. Now we are facing more people losing their jobs in the education fields. Some are saying up to a 15% cut

If there is a recovery it is at a snails pace.

Great news from Chairman Bernanke today. We are moving closer to a self sustaining recovery. That’s right. We have to raise the debt ceiling because it’ll be catastrophic if we don’t

WHAT? Where have we heard this before?