As Henry Kissinger once said ~ " It's not a matter of what is true that counts but a matter of what is perceived to be true " and both Washington and Wall Street are determined that Main Street not know the reality of our present Recession nor the lies and fabrications regarding present economic updates and conditions: Allen L Roland
Let us use, for example, the outright lies and fabrications that officials of both Washington and Wall Street are telling you everyday to deny the reality of our present Recession ~ in a vain attempt to cover up the failure of Bush's economic policies.
Let's use last Friday's economic news, as a telling example. Martin Weiss, Money and Markets, calls it outright distortions and Lies.
Allen L Roland http://blogs.salon.com/0002255/2008/04/07.html
DISTORTIONS, DECEPTIONS AND OUTRIGHT LIES
Martin D Weiss, Ph.D
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=1640
Excerpt: " If you thought that the surge in the U.S. unemployment rate to 5.1% was a shock, consider John Williams' Shadow Government Statistics.
First, Williams points out that the total job loss the government reported on Friday wasn't just 80,000. It was 147,000. Reason: The previous two months of job losses had been greatly understated, forcing the government to revise them by a combined 67,000.
Second, he argues that these huge revisions are no accident. They are the consequence of the government's continuing misuse of seasonal adjustments.
"If the process were honest," he writes in his Flash Update issued to paid subscribers on Friday, "the differences would go in both directions. Instead, the differences almost always suggest that the seasonal factors are being used to overstate the current month's relative payroll level, as seen last month and the month before."
Third, his analysis shows that the job numbers have a built-in bias based on a model that makes assumptions about birth and death rates. Without those distortions, he calculates there would have been additional job losses of 135,000 in February and 142,000 in March.
Fourth and most important, as you probably know, the government excludes "discouraged workers" from its count of the unemployed; and the definition of "discouraged" is highly questionable ~ anyone who has not looked for a job in just the past four weeks !
His conclusion: The true unemployment rate in America is not 5.1%. It's 13%, or over two and a half times worse than officially reported.
The government's distortions of other critical data are no less egregious, " says Williams. "
William's comments on Inflation, Economic Growth and the government's distortions of GDP data are also most disturbing as well as Wall Street's equally dangerous layer of investor deceptions ~ all put in place to avoid the reality of our current precarious economic and financial condition.
Allen L Roland http://blogs.salon.com/0002255/2008/04/07.html
Freelance Online columnist and recognized therapist Allen L Roland is available for comments, interviews, speaking engagements and private consultations consultations ~( allen@allenroland.com )
