21
Oct
14

new a***ole

just around the cornerI am no economist, but my son Henry is. That is why I took notice a couple weeks ago when Henry reamed me out for parroting in this blog what the mainstream media has been saying, that the general economic condition is beginning to improve. You would have thought I’d said something to besmirch the sacred memory of his mother. He couldn’t believe I would suggest such a thing.
In my own defense, my cycles research says that the timing of the dominant cycle says we are due for a recovery about now. Perhaps it is simple wishful thinking that I am looking at the trends and hoping that they are the harbingers of better days ahead.
But on the ground where Henry is, he feels no such optimism. Says Henry: “Here is a nice summary article, with several graphs included, that proves beyond a doubt that only the top of the top have experienced anything that might resemble a recovery.

“What’s even more astounding is that, while reports of slowing activity and falling sales have appeared over the summer for nearly every industry, since last spring not one single one can admit that the reason might be a lack of sufficient income or confidence. Not only has there been no recovery, the monetary policies enacted since 2008 are deliberately ensuring that there will be no gains for the vast majority of people and businesses.

“It’s like there is some prohibition to telling the truth. All declines in data are blamed on the weather, geopolitical instability, or even worse, spun to suggest that the slump is only temporary and that ‘unleashed demand’ or ‘cash on the sidelines’ will reappear shortly to restart growth to the moon. I simply cannot understand why no one can admit that sales and profits are down because people are broke.

“Infinite growth is impossible in a closed system with finite resources. There is nothing at all on Earth that is infinite in supply.

“Our entire way of life as it is arranged currently, from every angle, be it financial, environmental, human, etc., is sustainable only in a hypothetical world of infinite and inexpensive resources. It must collapse upon itself sooner or later and central bank counterfeiting has only been an experiment to see how far we can walk on air before falling, having walked off the cliff a long time ago, as in those Wile E. Coyote cartoons.”

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For 90% Of Americans: There Has Been No Recovery

 by Lance Roberts, Street Talk

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Lance Roberts is the General Partner and Chief Portfolio Strategist for STA Wealth Management. He is also the host of “The Lance Roberts Show”.

۞

Groove of the Day

Listen to The Carson Robinson Trio performing “Prosperity is Just Around the Corner”


1 Response to “new a***ole”


  1. 1 Daryl Watton
    October 21, 2014 at 2:04 pm

    It might be time for western culture to revisit the foundations of its prosperity. There are many luxuries and distractions that have given many of us a bloated standard of living to which we have become accustomed. If indeed we are living in the days of austerity, we must get accustomed to a shrinking economy and the end of exponential growth. Perhaps success isn’t to be measured in the growths of profits but in their steady maintenance. As long as the people are healthy, productive and civil to each other, is there any reason for economic growth except to support a growing population? Such population growth can be controlled, too, through choice and public policy. Why should we see the end of growth as the path towards death?


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