Job losses have topped 600,000 for a record four straight months, despite a few hopeful signs recently that the recession — now the longest since World War II — could be easing.
The latest tally of job losses was slightly higher than the 654,000 that economists expected. The rise in the unemployment rate matched expectations.
MSNBC reported:
And so for some reason he economy is being described by the experts as “On the rebound” and the FED Chairmen is being praised with this: Bernanke Easing Mortgage Rates for Consumer-Driven Rebound… ” So we got into this problem when the credit market popped.. they say… when the the real reason is the money system that creats credit and calls it money, Debt and calls it wealth over inflating the prices of homes through money expansion and credit until the obvious happened: people realized that homes are not worth what the market says and so the banks would not loan more equity money to the home owner to shop with. The entire boom was nothing more that a grand expansion of DEBT hoping that homes would go up in apparent value for ever. The Tax people loved it and the socialists loved it because they could raise taxes without raising millage rates simply by basing their taxes on the make believe mark to myt prices on the homes. The real estate agencies loved it because they are paid on commissions and the more the better, so they could not be honest about real value even if they did know. The property appraisers would not be honest because how many folks would be calling them if every time they came out the told you your house was worth less and less. Developers? LOL not an honest bone in their bodies and they knew… The Bankers? ROFLOL as if they cared. Remember they do not even know what a dollar is, add to this that their commissions on loans and points are based on people flipping their homes and properties. The more sales the more commissions and the more sales the more debt.. and remember DEBT, to them is wealth and a hole is a mountain. That is why “Bloomberg news” can say “Ben Bernanke is delivering what he promised five months ago, record- low mortgage rates and a refinancing boom that’s putting cash in consumers’ pockets.” But is that TRUE?
Question: If you borrow more money from your home have you created any new wealth, or have you established a DEBT that must be repaid someday? Question: If you buy something with the money that is consumable, and are required to pay the so called money back with iterest, have you actually paid way to much for what ever it is you bought? It reminds me of the fellow that I saw years ago buying his family a meal at McDonalds, he spent about 30 dollars and whipped out a debit card to pay for it. The Money on the Debt card was money that was placed there via a refinance on his home. Eventually he lost the home and he is still paying for the meal at McDonalds and that was eaten year ago. Did he actually BUY anything? IN another case I saw a young husband do the same thing at another restaurant, Pay with a CREDIT card this time. The credit card was one of those Orhcard Bank high interest cards. They give you like 300 dollars in credit but they charge you 150 dollars to do it. At any rate he bought his meal and exchanged his credit card for it. He is still paying for it and at a rate of over 20% interest. He expanded the economy, just like the McDonalds shopper did, by adding to the over all debt that eventually combined to unimaginable proportions to collapse the WORLD economy. So what is the FEDS solution to the problem they and their clones created? “Lets start over and do exactly the same thing we did before…..” Sort of like being trapped on an amusement park thrill ride that for some reason can’t be turned off…
Are you enjoying the ride yet?
Every once in a while you see something happening in the news that just is simply amazing. Watching a dead economy “come Alive” and “Rebound” as news people call it when what is actually happening is akin to watching