ACHUTHAN: This 3-D Chart Shows That The US Economy Is In Worse Shape Today Than Japan Was During Its Lost Decade
Lakshman Achuthan, head of the Economic Cycle Research Institute, is out with some new commentary today.
Achuthan, the controversial economist who is convinced that the U.S. slipped into a recession in mid-2012, warns that the economy is not on its way back to trend growth.
He believes that Japan’s lost decade is a good case for what’s to come in the U.S., and he illustrates it with a 3-D bar chart.
“Japan’s entry into its lost decades (1992 to present, red bar), and the other developed economies’ entry into the 21st century (yellow bars), saw major downshifts in growth.” he says. “Notably, the U.S. and other major developed economies have experience slower growth in the last five years (blue bars, front row) than Japan experienced in its lost decades (red bar).”
Read more: http://www.businessinsider.com/achuthan-us-becoming-japan-2013-7#ixzz2aZZCXiKE
When Bad Government Policy Leads to Bad Results, the Government Manipulates the Data … Instead of Changing Policy
Manipulating Bad Financial Data
Bad government policy has created a years-long unemployment problem. But instead of fixing the problem, the government is trying to paper over it. We’ve known for a long time that the Bureau of Labor Statistics fudges the numbers to make unemployment look lower than it is really is. BLS itself has admitted that its “adjustments” skew unemployment data during recessions. Indeed, the former head of the BLS recently said BLS statistics are B.S. … and that unemployment is much higher than the government is letting on.
The Bureau of Economic Analysis is revising 84 years of economic history … which will make the economy magically look better.
Government agencies have helped banks manipulate commodities prices for decades.
The government twisted statistics and intentionally lied when it pretended that the banks it was bailing out were solvent
The government has long ignored energy and food prices when reporting on inflation.
Fraud is Wall Street’s business model, which is – unfortunately – being supported by the government.
The government helped cover up the crimes of the big banks, used claims of national security to keep everything in the dark, and changed basic rules and definitions to allow the game to continue. See this,this, this and this.
Marc Faber On Central Banker Actions: “Insane People Don’t Realize They’re Insane”
While we know that the Fed will be forced to taper in the short-term as it desperately avoids the ‘appearance’ of outright monetization that a falling deficit will create, Marc Faber sums up the endgame perfectly in this clip: “I don’t think they will come to their senses for the simple reason that insane people don’t realize that they are insane.” Faber adds, “they think they’re doing a great job,” and in fact they believe – in general – that “if anything, we need to do more, not less.” The ‘forced-taper-to-plunge-to-untaper’ progression means it’s going to get worse; as Faber notes, QE/printing will continued indefinitely “until the system breaks down.” Having printed this much money with such dismal results, Faber concludes, “the Fed is completely clueless.”
Faber covers a wide-range of topics in this excellent interview – from Fed insanity and cluelessness to Gold confiscation and from China’s dishonesty to the destabilizing reality of Stability-hoping Keynesianism…
Please forgive the repetition of this chart of the S&P 500 over the past 18 years, but it raises this question: Which do you trust more: the Fed’s implicit promise that the stock market will never crash again (because “the Fed has our back”), or that every asset bubble boom is inevitably followed by a bust?
VIDEO: US government establishes death camps for American citizens – FBI retiree
American federal government has set up 1,000 internment ‘death camps’ across the country and is storing 30,000 guillotines and a half-million caskets in Atlanta, according to the retired FBI agent Ted Gunderson. Gunderson conveys that these camps are in place for the day the government finally declares martial law and moves in to round up or kill American dissenters. “They’re going to keep track of all of us, folks,” Gunderson warns. Existence of these concentration camps has now been confirmed by numerous researchers and mainstream news sources. (VIDEO)