First part from an article in Yahoo July 28:
Markets have been rattled lately by figures pointing to a slowdown in the U.S. but analysts say initial fears that the world's No. 1 economy was heading toward a second recession have subsided.
"Two weeks ago, people were wondering whether the U.S. was slipping back into a double dip," said Howard Gorges, vice chairman of South China Brokerage in Hong Kong. "In fact, corporate results are very good. The market is starting to get the message that the economy is not so bad. It's not a pretty picture, but it seems to be a slowly improving outlook that's ahead."
My take:
-- on what basis, when you have falsified accounting practices from FASB permitted by the US government, within two weeks, all is coming up roses again - incredible - the greatest legacy of the Obama administration is to build up such smoke screens and charades to convince the majority of the mindless American to re-invest their remaining dollars into corporations and entities that surreptitiously acquired Americans old dollars (hence the reason that US corporations and US Banks NOT individual Americans are sitting on 3 Trillion dollars of cash) because "they (Individual Americans) can't stand their dollars to earn zero interest" - This has to be the biggest financial ruse in the history of the United States - even besting the Great Depression by failing to even acknowledge that this too is a Great Depression - I am wondering how much longer the media will continue to play into this ruse - I have now spoken to three respected colleagues that believe much like everything else that this administration does, they will inflate the economy with numbers to ensure through November that as many democrats as possible are all re-elected and Obama's base is not shrunk. The whole process sickens me because in between we all know that the political aspect of how the market is perceived ("It's the economy, stupid") is the "Unknown factor" and can quickly derail years of technical and fundamental analysis.
That is why nothing makes sense whatsoever in investing. Therein, also lies the answer to the question of how come the Obama administration has significantly laid off on the attacking of banks, black pools, hidden hedge fund tricks, and high frequency traders even BP as well to ensure his media based global plan entitled "Recovery Summer" goes off without a hitch (just like his famous "Green Shoots" plan of March 2009). Obama is one hell of a magician and hypnotist making Americans think he has their back, while his administration most likely is cutting backroom deals with corporations to inflate the economy. This way, Bernanke aka the Fed nor the Obama Administration have to reach into their pockets to stimulate the economy and give the appearance that they are not increasing the deficit.
Very few Americans (who can think for themselves) see right through this, but the vast majority either do not see, do not care, feel hopeless, or have become lost souls of the American Dream.
One of the "recovery keys" is to prove that Europe is stabilized between the bogus bank stress tests (check), to numerous Europeans saying, "hey, we are not as sick as you think we are, in fact, we are far better off (cough, cough, cough) than you might believe.
How the US spins the unemployment numbers will be a feat - but knowing the Obama administration they have some trick up their sleeve already to give the perceived notion that unemployment and underemployment must be lower while excusing the fact that they have now extended unemployment benefits for a record 7 times. They need this final key in place to ensure re-election of as many democrats as possible.
The real question is "How long is Obama Administration going to spin numbers in either government reports or falsified corporate earnings back room deals to present a far rosier picture than actually exist" or "a not so rosy picture but much better than we expected picture".
Why can't anyone believe that America would be far better off if severe austerity measures were put in place and while perhaps painful at first, would improve the economy that much more quickly than this self-indulgence of spin at the ultimate expense of the every day American?
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