The Self Sustaining, Downturn Recovery

by | Jan 10, 2011 | Headline News | 20 comments

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    The official story:

    The economic recovery that began a year and a half ago is continuing, although, to date, at a pace that has been insufficient to reduce the rate of unemployment significantly. The initial stages of the recovery, in the second half of 2009 and in early 2010, were largely attributable to the stabilization of the financial system, expansionary monetary and fiscal policies, and a powerful inventory cycle.

    More recently, however, we have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold.

    Read full text of comments at the Federal Reserve’s corporate dotGOV web site

    An alternate view from the National Inflation Association:

    Great news from Chairman Bernanke today. We are moving closer to a self sustaining recovery. That’s right. We have to raise the debt ceiling because it’ll be catastrophic if we don’t. We have interest rates near zero and the Federal Reserve is monetizing our debt.  And, we’re moving into the self sustaining category.

    Recovery?

    Self sustaining?

    Pay no attention to the tens of millions who are unemployed, the 43 million people on food stamps, rising food and energy prices, or the necessity for more debt issuance to prevent a catastrophic collapse. Though Mr. Bernanke does make mention of the challenges we face going forward, his outlook is markedly positive given the real, underlying statistics, some of which can be found at Shadowstats and The Economic Collapse.

    Based on past economic predictions from Chairman Bernanke, we can forecast with approximately 99.99% accuracy that exactly the opposite of what he says is happening is actually happening:

    “I’m confident that bank regulators will pay close attention to the kinds of loans that are being made, making sure that underwriting is being done right. I do think this is mainly a localized problem and not something that’s going to effect the national economy.”
    -Ben Bernanke, 2005

    “We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though.”
    -Ben Bernanke, July 2005

    “Our assessment is that there is not much indication at this point that sub-prime mortgage issues have spread to the broader mortgage market, which still seems to be healthy, and the lending side of that still seems to be healthy.”
    – Ben Bernanke, February 2007

    “[Home] sales should ultimately be supported by growth in income and employment.”
    -Ben Bernanke, July 2007

    “At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.”
    -Ben Bernanke, March 2008

    “Currently, we don’t think it [unemployment] will get to 10 percent. Our current number is somewhere in the 9s.”
    -Ben Bernanke, May 2009
    [In November of 2009, the unemployment rate reached 10.2%]

    “One myth that’s out there is what we’re doing is printing money. We’re not printing money.”
    -Ben Bernanke, 2010

    “To lend to a bank we simply use the computer to mark up the size of the account that they have with the Fed. So, it’s much more akin, although not exactly the same, to printing money than it is borrowing. Well, effectively [we’ve been printing money]. And we need to do that.”
    -Ben Bernanke, 2009[Video Link]

    Make your investment and preparation decisions wisely is all we’re saying.

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      20 Comments

      1. michelle

        One of the best things I’ve ever done is stop watching television.   When I am at someone’s house or someone here turns on news shows, I am amazed that they never talk about ANYTHING real.  It’s hollywood this, economy is recovering, and whatever the latest smokescreen story is to cover up the corruption that’s so obvious to anyone paying the slightest bit of attention…

      2. FireSteel.com

        If you believe that improving an economy is as simple as printing money, then you also believe in Perpetual Motion machines as the solution to our energy problems.

        My advice is as soon as you have dollars in your possession to spend them on real wealth: food that stores well, clothing for future needs, and other basic commodities (gold and/or silver if you can afford some).  The dollars in your pocket and bank account will only decrease in value day by day, while the food in your pantry and the metal underneath your mattress will retain REAL value.

        What is the proof of this?  It is taking more and more paper dollars to purchase basic necessities such as foodstuffs and clothing, as well as gold and silver.  It is not that these commodities are rising in value = its that American dollars are losing value.  It takes more dollars to purchase the same amount of anything.

      3. Anonymous

        #1 said the other day that some people are have a rough time out there.  Rough is when you get kicked out of your house, don’t have a job, lose your self being, can’t support your family & hungry? I call that dire……..
         

      4. GodSend

        There is another (higher) dimension to “Financial Armageddon”, believe it or not! 😉

      5. Grampa Metals

        Ever since the Bernie Maddoff Scam…I exited the market. All I do is buy Gods money…silver and gold.  Screw interest, and dividends.  I’ll just keep working until the big man calls me home.  One day, my kid will open the safe and know her old man loved her…and any grand kids too.  Yeah, I did stop watching TV…amazing the brain washing when you see it first hand and can recognize it.  Thank GOD people are still stupid…give me a better chance of stocking up.  My future… at retirement…think..when I can no longer work the computer code as my brain is fried…then I’ll stay in the country, feed the chickens….milk the cows, cut wood and garden.    Also, I’ll have a massive pond with fish cages …basically be self sustaining…my goal… at least give the option of any future grand children a choice.  Me…I had to go be a debt slave…house, car and stuff.  I would have rather had a small farm handed to me and life free.  I’m thankful for all the sheople…they are allowing me to buy up cheap metal for my future dream.  When things are at the worst..then I’ll cash it all in for Gods country.  Nice site…keep it up.  My only big worry is China and Russia attacking us.  I can just see our congress rolling over for them.  The latest thing in the news is no wonder as folks are pissed off.  

      6. Steve

        The scary thing is this lying to the public actually works.  Add to all of our problems what to do about all the decieved people that believe all the bullcrap that Ben is shoveling.  Thank God for FOX news.  At they have a chance to pull their head out their hole.

      7. MadMarkie

        The dip in PM prices that we saw late last week were caused by some of the big dogs taking profits on their investments out of the market. Now they are buying back in and the PM prices are going back up. Check out Monex and see for yourself. By the end of this week gold and silver will be at new highs.

        It doesn’t look too good for the home team boys & girls.

      8. morpheus

        Of course this is Hog Wash –

        For those who don’t know “The Revolution has Started”

        Join us – Free people don’t act like slaves
        read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )
        Find out what real power feals like.
        We don’t to live this…

      9. REB

        Grampa Metals…… Good dream to have,keep chasing it,its worth it 🙂 I”m living there,welcome neighbor!

      10. Anonymous

        I will save you from wasting time with this morpheus character. he is a neocommunist posing as a patriot, maybe he  can recruit mushhead

      11. SD Mule

        Steve,

        Fox News? Now that’s funny. I almost thought you were serious. You got me. Thanks for the laugh.

      12. jeff gurney

        Mac, Great post as usual.  I especially like the comment”We are not printing money”  They don’t know what the hell there doing at the Fed.

      13. JJ

        Comments…..
         My only big worry is China and Russia attacking us.  I can just see our congress rolling over for them.  The latest thing in the news is no wonder as folks are pissed off. 

        ~~~I read that a China leader said the only reason they haven’t attacked is they know behind EVERY American door is a gun.~~~ 

      14. GodSend

        “They don’t know what the hell they’re doing at the Fed.”

        YES, THEY DO! Sir Alan and Whirly Ben know EXACTLY what THEY are doing – and what THEY have done – and what THEY will do next. THEY have a GAMEPLAN! 😮

      15. GodSend

        PS The JFK assassination, the USS Liberty attack, the ALIEN INVASION (Immigration Policy) and the ATTACK ON AMERICA on 9-11-2001 (among many other CRIMES) are integral parts of that diabolical GAMEPLAN! 😮

      16. GodSend

        There IS a way out of America’s financial predicament: “SELL the family silver” (Alaska, Hawaii, National Parks, Disneyland, MLB, NFL, Wash. DC, etc.) to Sovereigns AND go back to the GOLD standard AND eliminate the Military. Of course, the price of GOLD will have to be “adjusted” to about $32,000/oz! Good plan, Gramps!

      17. Tina

        GodSend……YES THEY DO….you are correct!!

      18. Sirena

        To JJ,
        it may surprise you, but other countries are not interested in becoming empires and they are not as aggressive as our media wants us to think. Travel the world, see for youself, don’t buy what MSM is spinning. 
        WE are our own worst enemy, nobody else.

      19. GodSend

        The GAMEPLAN THEY have is to send America into the ABYSS!

      20. GodSend

        Tina – of course I am correct. What did you expect with a name like GodSend! 😮 For some other important pieces of The Puzzle I have put in the right place, click on GodSend. Be prepared for “Shock & Awe”! Can you find the link to SHTF?

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