You better be darn scared
By: Devvy
The damnable lies that continue out of lazy, corrupt media mouthpieces regarding the true state of the economy is nothing short of reprehensible. We expect politicians to lie every time they open their mouths. We expect ethically bankrupt crooks like Ben Bernanke and Timothy Geithner to lie every time they open their mouth to protect their banking interests. However, a free media is supposed to be the watch dog for government corruption and report the facts, not propaganda. Not so for a long, long time for what is known as the "mainstream" media. Fools they are because like tens of millions of others, they will also be reduced to penury. Lackeys for their corporate masters no longer question numbers; perhaps they are as ignorant as the majority of adults in this country when it comes to fiat currency and taxation.
The pathological liar camped out in the White House recently upchucked, "'We're digging ourselves out of a hole"' when the fake unemployment numbers allegedly show the jobless rate had dropped to the lowest level for 19 months. Bernanke, master in the art of deception, was pumping more false hope last month: "The Chairman of the Federal Reserve Ben Bernanke says until the U.S. economic system is completely stabilized, the country will be slow to climb completely out of its latest recession and that could mean high unemployment rates for a few more years. A native of Dillon, Bernanke made the remarks during a rare interview on CBS’ “60 Minutes,” which aired Sunday night."
Geithner says the U.S. government is broke, but look at his role in facilitating the coming collapse! Everything done by the private banking cartel [FED] with the full cooperation of Geithner is exactly the same destructive path taken by FDR. One of the most accurate and comprehensive writings on how the "New Deal" made the situation even worse back during the "Great" Depression is a piece by Lawrence W. Reed titled, Great Myths of the Great Depression. You will see the same programs touted by the communist in the White House are near twins of the failures promoted by FDR. While Lawrence's piece is 16 pages, it is well worth the time to get a good education on what didn't work and actually prolonged the depression by a decade. We are reliving history.
More lies from the media:
"The nation's unemployment rate is 9.8 percent. South Carolina's unemployment rate stands at 10.2 percent. Bernanke says what concerns him now is the length of time many America's have been out of the workforce."
Unemployment in this country is at depression levels. By 1933, unemployment peaked at 25%. The criminal syndicate out in DC ("our" government) claims unemployment is 9.8%. Really? The "official" unemployment number is 14, 443,867 Americans out of work. The actual number is 25, 684,164. Staggering numbers. 25.6 MILLION Americans have no jobs thanks to the Outlaw Congress and reckless spending by the states.
Stabilize the economy? Pray tell, Bernanke, how will do you that without jobs being created? How will you do that when ONE MILLION homes were foreclosed on last year and an estimated 20 MILLION homeowners will have underwater mortgages by the end of 2011? Someone tell me how you grow the economy with those numbers when the only real wealth for most Americans is their home?
"RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Year-End 2010 U.S. Foreclosure Market Report™, which shows a total of 3,825,637 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.
"Foreclosure filings were reported on 257,747 U.S. properties in December, a decrease of nearly 2 percent from the previous month and down 26 percent from December 2009 — the biggest annual drop in foreclosure activity since RealtyTrac began publishing its foreclosure report in January 2005 and giving December the lowest monthly total since June 2008.
"December Default notices (NOD, LIS) decreased 4 percent from the previous month and were down 35 percent from December 2009; Scheduled foreclosure auctions (NTS, NFS) decreased 3 percent from the previous month and were down 20 percent from December 2009; and bank repossessions (REO) increased nearly 4 percent from the previous month — thanks in part to substantial month-over-month increases in some states such as Nevada (71 percent increase), Arizona (52 percent increase) and California (47 percent increase) — but were still down 24 percent from December 2009.
"Foreclosure filings were reported on 799,064 U.S. properties in the fourth quarter, a 14 percent decrease from the previous quarter and an 8 percent decrease from the fourth quarter of 2009. The fourth quarter total was the lowest quarterly total since Q4 2008.
“Total properties receiving foreclosure filings would have easily exceeded 3 million in 2010 had it not been for the fourth quarter drop in foreclosure activity — triggered primarily by the continuing controversy surrounding foreclosure documentation and procedures that prompted many major lenders to temporarily halt some foreclosure proceedings,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, 2010 foreclosure activity still hit a record high for our report, and many of the foreclosure proceedings that were stopped in late 2010 — which we estimate may be as high as a quarter million — will likely be re-started and add to the numbers in early 2011.”
More and more Americans have been forced to borrow from their retirement accounts. Wow, you can borrow your own money at a small interest rate! More borrowing, more debt. To buy food or keep their homes from foreclosure.
Read more:
http://www.devvy.com/new_site/true_economy_011711.html
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