Power of Story Send a Tweet        
OpEdNews Op Eds

No Joy in Mudville

By       Message Stephen Lendman       (Page 1 of 4 pages)     Permalink

Related Topic(s): ; ; ; ; , Add Tags  Add to My Group(s)

Must Read 1   Well Said 1   Valuable 1  
View Ratings | Rate It


Author 194
Become a Fan
  (191 fans)
- Advertisement -

No Joy in Mudville - by Stephen Lendman

Indeed not. The equity markets struck out, or as highly respected analyst Louise Yamada believes: "Clearly, this cyclical bull is over," but it's worse than that with Western and other economies cratering. 

- Advertisement -

Some hover close to collapse or may head there. The operative word is hard times, the beginning of leg two of the global Depression that begin in fall 2007, likely to exceed it in harshness and duration.

Only massive monetary intervention prevented collapse earlier. Doing it, however, exacerbated a major problem, the equivalent of treating a metastasizing cancer with snake oil remedies. As a result, the patient is in sickbay failing.

- Advertisement -

Perhaps hindsight will prove what many analysts now believe - that the August 4 market rout was a major negative inflection point. By early August 8 trading, in fact, America's S & P 500 lost all its gains for the past nine months. By day's end much more. Other markets also got hammered, and why not.

Weak economic data are, in fact, worse than reported by manipulating them to look better or omitting their fine print, let alone what they portend.

For example, Friday's employment report showed 117,000 jobs gained in contrast to the broader Household Survey showing thousands lost. Moreover, labor force participation and the employment rate both dropped to a 28-year low heading south.

- Advertisement -

But's its worse than that as economist Jack Rasmus explains, presenting his views often on the Progressive Radio News Hour.

Next Page  1  |  2  |  3  |  4


- Advertisement -

Must Read 1   Well Said 1   Valuable 1  
View Ratings | Rate It


I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert