Economic Recovery Is a Lie

Rate this post
Author, investor and longtime Wall Street observer James Dale Davidson says our government is lying to us: There is no genuine economic recovery happening. 
For example, calculations for the recently released unemployment figures released failed to include the fact that the Bureau of Labor Statistics had undercounted the number of unemployed people in 2009 by 824,000 persons. Davidson told Newsmax:

“I think what we have seen … is a simulated recovery which has been generated by the government faking it in a lot of different ways [putting out statistical falsehoods on economic numbers] to make it seem that the economy is stronger than it is. They’re supposed to be doing a benchmark adjustment … and if they do, the unemployment rate will shoot up even higher. A lot of the supposed improvements have been faked by the government. In my view, it’s all created by the government as a hoax. But if you hoax people into going out and spending money on false assumptions … a lot of people are going to lose a lot of money.”

The whole administration is based on one lie after another, Davidson says. As revealed in recently uncovered e-mail correspondence with AIG, Treasury Secretary Timothy Geithner effectively told the huge insurer to violate U.S. securities laws.
Americans’ debt load is so high, Davidson believes the administration’s encouragement to consumers to spend more now is a major misdirection.
To read the Jan 18, 2010, Moneynews article by Julie Crawshaw, CLICK HERE.
Please follow and like us:

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.