I make it a habit to pay close attention to what is happening locally as well as nationally and what I see on both fronts is frightening ! Business is slowing down locally and The federal reserve is buying up Treasuries like mad to support the dollar. It also seems like they are involved in supporting the stock market as well to keep it up, when it should be dropping based on other indicators.
The Media is saying that unemployment is 7.9% based on the applications for unemployment insurance which creates the perception that things are not getting worse and may be getting better. However the fact is many have been out of work so long that they no longer qualify for benefits and therefore are not listed as unemployed which is a sham by Government! The fact is unemployment is growing and more than 20% are unemployed or underemployed today!
They use statistics to lie to you. A good example is the reports out of Ford and GM suggesting that they are having a better year, but when I drive by the dealerships their lots are jam packed with new vehicles that are unsold. [smell a rat here ]
The RV dealership is closing up and the Marina and boat sales is not very good either!
I look at the on line real Estate for sale every week and there are a lot of houses listed that have been for sale for a year or more and very few new listing are showing up.
My own business is slower than it has ever been in 35 years!
Have you been watching what has been going on around the world too? Greece and the riots there and this week the government of Hugo Chavez devalued their currency by 46% [ouch] their buying power just took a nasty hit if they were not in GOLD and SILVER !
When there is this much smoke don't you suspect that something is on fire ? Like the worlds economy is getting burned
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