Posted 8 years ago on July 27, 2012, 6:25 p.m. EST by richardkentgates
This content is user submitted and not an official statement
Most of you have listened to me ramble on about the recovery being a fraud for a few months now. Now most of you can see the fraud being uncovered in the recent news and you also can see that what I said about low demand being the cause for this and unemployment as well as wages are stagnate or unchanged at best.
This has actually been a calm period relative to the scale of this economic plague. The stimulus was like steroids, a fast show of strength and seeming resilience but also like steroids, it's only a temporary fix and also has side effects.
The side effect is inflation which is being held at bay by the feds misreporting and other financial trickery. The unemployment up-ticked during the period of the year that hiring should have been strongest. Inflation cannot be held at bay once the fraud is removed. The regulators after being embarrassed because fraud that was uncovered by other departments doing their job, they now are pushing to regulate things that were never even mentioned by Dod-Frank or Glass Steagall. Talk by the CTFC of requiring software to run certain numbers.
At any rate, wages are now and have been woefully inadequate to sustain the high volume demand that our version of capitalism has come to require. That still has not changed and we now head into the winter with all of it's impending layoffs from the service sector, on top of our already unacceptable employment numbers. The Europeans have panicked and the ECB is now willing to begin printing cash.
It's going to be a shitty winter, fuck what the mainstream media is try'n to sell.