The Spin Most People Seem Utterly Incapable of Perceiving (even against their own intuition)! And, There can be no progress economically or politically until the lies are stopped. Do the math! Note: These are not mistakes; both the hosts and guest are fully-aware of The Feds balance sheet, and the mathematical implications. Guest commentator on CNBC this morning says: we live in a 2% economy. But, 4Q 2013 GDP was $17.081 trillion. One year ago it was $16.420 trillion. That’s an increase of $661 billion, more or less, which doesnt sound so bad, on surface, because its right at a 4% advancement annually. However, The Federal Reserve added $1.112 trillion in credit (unbacked by anything) during the same period of time; which translates into thats a debasement of the units in which GDP is reported of 6.51%. So the real change in the economy is in fact negative 2.51%. We are factually in a recession. Period!
Posted on: Fri, 14 Mar 2014 15:18:45 +0000
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