HAPPY, HAPPY, JOY, JOY

"Every single sector of the real economy is deteriorating, whether it is unemployment, production, corporate profits, real estate, credit defaults, federal deficits, or construction. The discrepancy between fact and fiction is seen by the SPDR Homebuilders ETF (NYSEArca: XHB - News). Builders have nothing to build, yet XHB has rallied over 30% in less than 30 days.

With almost a year of housing inventory yet unclaimed, one wonders who is supposed to be buying homes? Unemployment rates - calculated the way the government used to do it before it was changed in the 1990s - pegs the real unemployment rate around 20%, or 30 million people. During the Great Depression, unemployment reached 25%, the non-farm peak figure of the 1930s clocked in at 35%.

If you think 30 million unemployed is bad, consider the following which puts a face on an otherwise stale statistic. Each of the 30 million unemployed US residents probably supports a family, whether a spouse with children, or just a spouse. Based on 2-4 dependants per unemployed worker, a range of 60 to 120 million Americans are already affected by unemployment; that's 20 - 40% of the US population."

Yahoo

I picked on realtor's yesterday and I'm going to pick on them again; along with politicians, journalists, investment professionals and everyone else selling economic snake oil to the American people. The world economy is in the tank and it's not coming out anytime soon. It is most likely going to get far worse.

Again, I'm just a carpenter. However, it looks to me like there are a whole bunch of people doing their very best to extract every last drop of private wealth out of the system. When all the gravy is mopped up off the plate they plan on retiring to watch some TV while the rest of us starve.

All of the happy, happy, joy, joy news about the economy that most see on TV is nothing but propaganda designed to sucker us in. When you see this crap come on cover your ears and make loud, childish noises to drown out the siren song. Don't get wrecked on the shoals.