Mark Matheny
May 21, 2011
Many Americans have bought into the current administration's propaganda of a "Jobless, housing rate decline, inflation increased, debt ceiling reached- economy", but those who are not brainwashed by the corporate mainstream media know that the economy is on the brink of disaster.
Obama and his crew in the White House will constantly speak of the recovery, and yet the financial gurus, stock market historians, and many fund managers are saying instead that stocks may be going into "sleep mode" for the next decade.
Yale University professor and housing guru Robert Shiller believes that while stocks may gain 2 to 3% in the next decade, consumer spending and the housing market will continue to "head south again".
“Even at this point, with the recession technically over, we are in the worst financial shape we've been in since the Great Depression,” stated Mr. Shiller speaking to an audience in Las Vegas.
Any statistics or reports coming from the White House "Ministry of Truth" tend to be only half-truths at best. True unemployment rates are somewhere between 15% and 22%, depending on how you break down the data.
According to the Bureau of Labor Statistics, unemployment rose to 9% in the month of April. Of course this number is overly optimistic (and quite deceptive), given the fact that it is a manipulated number which doesn't give the full picture of the unemployment nightmare many Americans are in right now.
If you go to U.S. Debt Clock.org, you can view the "official unemployment" amount at 13,242,236 people, while the "actual unemployment" amount is at 26,690,183 people.
It's clear that the numbers being presented by the White House, and the Bureau of Labor Statistics are fraudulant. There are currently Approximately 310 million Americans. 26,690,183 is 8.609736451612903% (8.6%) of 310 million. Obviously there is deception taking place.
According to Robert Shiller unemployment by his calculation is at around 15.9%. That would mean that there would have to be more like 46,800,183 people unemployed at this time. That means there are about 20 million more Americans unemployed than what is being reported on the mainstream media!
(46,800,183 is 15.9% of 310 million)
This alone is startling, and yet there is more misery in the economic sector relating to the housing market. Although Paulson promised in the beginning of the crash in 2007 to take the bailout money to help homeowners, nothing could have been further from the truth, and in a shell game act, he redirected money to the banks instead. Since the so-called "bailout", the housing market has been a slow-sinking ship in the market.
According to CNN Money in a March 29, 2011 article, 11.4% of all U.S. homes are currently vacant.
And although foreclosure filings may have slowed down some in april of 2011, the reason for the reduction in foreclosures may not be from better conditions in the market, but as a direct result of slower processing rates. Left and Right News reported on this May 17, 2011
A slower processing rate is also evident throughout the country. During the first quarter of 2011, it took an average of 400 days from the initial default notice to the repossession, which is up from 340 days in the first quarter of 2010.
In addition to a slower processing rate of foreclosures, the amount of homes with the inevitable fate of foreclosure remains close to the amount in 2010. The shadow housing inventory includes all distressed mortgages and currently makes up a third of all mortgages, according to S&P. This ultimately suggests the noticeable reduction in foreclosure filings over the past six months is not a result of improved market conditions, but is instead a direct result from slower processing rates.So, although the mainstream media might take the reduction of foreclosure filings and paint a picture of improved market conditions for housing, they are not telling you that it is more than likely a result of longer processing periods for foreclosures! Yes there are massive amounts of foreclosures, but since they are taking longer to process, they can report better statistics while the housing market declines.
The housing foreclosure rate for 2011 has certainly slowed down compared to 2010 rates, but this is nothing to jump up and down about. If you had a wound and were bleeding profusely, would you be overjoyed if your bleeding merely slowed down, all the while you continued to lose pint after pint - only at a slower pace?
According to the same Left and Right News article:
Although the pace of foreclosures has slowed in 2011, do not interpret this as an improvement in the amount of distressed properties in the housing market, but rather as a prolonged recovery of the housing market.Besides those two depressing areas of the economy, there are other areas that the administration are glossing over, or down right evading, such as the number of Americans on foodstamps. Obama and his House proclaimed a "summer of Recovery" in 2010, and spouted how the bailouts saved America from a catastrophe. But if you look back to the beginning of the crisis in December of 2007, there were approximately 27.4 million foodstamp recipients at that time. Since then the Food and Nutrition Service of the United States Department of Agriculture, reported a total of 44,199,391 Americans receiving benefits.
Now explain to me how adding an additional 17 million Americans to the foodstamp program in a matter of 41 months is a sign of recovery?
According to a Rasmussen poll, only 26% of likely U.S. voters say that the country is headed in the right direction. I can only hope that the reason for this is the fact that many are waking up to the reality that the mainstream media and our government has been stringing us along with "Champagne Dreams and Caviar Wishes", as it is said.
Recent declarations of Osama Bin Laden's death in an effort to bolster Obama's ratings, and sidetrack Americans from the economic crisis coming have so far failed, thanks to the alternative Internet media that has exposed the fraud of the White Houses' latest lies. That being the lie of Obama's so-called long form birth certificate, and the other lie of Bin Laden's latest demise ( for the ninth time now?)
The economy is certainly not getting better, and apparently, neither is the White Houses' ability to fool the public. So let's cast away the dreams and wishes that have betrayed us for so long, and cling to the economic and political reality we face, though hard to bear, in order to save our nation from the ultimate goal of this crisis - a New World Order.
This article can also be found in the New American Magazine on page 5
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