Let the spin begin. The country has clearly entered recession, but the government bureaucrats, corrupt politicians, criminal Wall Street bankers, and their corporate media mouthpieces refuse to acknowledge the truth. They have too much wealth at stake to report the facts. They need to exit the markets before the muppets.
Consumer spending in December collapsed at the greatest rate in five years. Remember 2009? It wasn’t a great year for the economy.
That always happens when the economy is growing at 4%. Right? That always happens when the unemployment rate has plunged to 5.6%. Right? That always happens when the weather was downright balmy compared to the Polar Vortex December last year. Right? That always happens when consumer confidence is supposedly at 7 year highs. Right?
I thought the massive savings from the collapse in gasoline prices was supposed to translate into huge spending gains and boost the economy to new heights. That was the MSM storyline, and they are sticking to it.
Despite the absolutely dreadful data, the spin started immediately. They grasped onto the 0.3% increase in personal income as a straw of positivity. One problem. The increase wasn’t driven by people with jobs getting higher wages. And the increase was actually only 0.28%. The press release reveals the truth you won’t get from CNBC or any of the other corporate shill networks.
http://www.bea.gov/newsreleases/national/pi/2015/pdf/pi1214.pdf
Here are my observations, which you won’t hear elsewhere:
Continue reading “CONSUMPTION CRASHES IN DECEMBER”
