It looks like the "official" stats will show the recession in the U.S. is over. Peacenik doesn't believe it. The publicly funded stimulus has artificially inflated a few stats so that the pump and dump artists on Wall St. and Bay St. can keep the party going for a bit longer. The ghost fleet of tankers off of Malaysia and the Baltic Dry Index tell another story.
The economy will never recover. There will be no growth. Until the black hole of debt is filled in or defaulted on, the global economy will be a phony economy. And getting rid of that black hole of debt is going to change the global economy in ways not yet imaginable. Dylan Ratigan's article is a nice simple summary of some of the problems....that are unsolvable.
Dylan Ratigan
The American people have been taken hostage to a broken system.
It is a system that remains in place to this day.
A system where bank lobbyists have been spending in record numbers to make sure it stays that way.
A system that corrupts the most basic principles of competition and fair play, principles upon which this country was built.
It is a system that so far has forced the taxpayer to provide the banks with the use of $14 trillion from the Federal Reserve, much of the $7 trillion outstanding at the US Treasury and $2.3 trillion at the FDIC.
