GDP - LOL!! Fake rise in GDP and YOU get the BILL!

Discussion about the recent report of GDP increase to 3.5%. With all of the stimulus in the auto and home areas, this accounted for most of the increase. So, it's just artificially inflated, just like everything else in this debt-based economy. Dollar is still collapsing, the economy is still collapsing despite the insane government interference.

Extension of Home Buyer Tax Credit:
http://www.marketwatch.com/story/story/print?guid=6D379A36-407A-4ED3-9AB0-E5F...

Fed ends Treasury Buys (Yeah right):
http://www.bloomberg.com/apps/news?pid=email_en&sid=a5YPamGgh2dw

GDP report before GDP release:
http://www.bloomberg.com/apps/news?pid=email_en&sid=axKaYxOaj5Dg

GDP report after GDP release:
http://www.bloomberg.com/apps/news?pid=email_en&sid=aCi2EYr.5RhY

MUST READ!!! (Talks about our ponzi finance system):
http://www.ritholtz.com/blog/2009/10/quarterly-review-and-outlook-q3-2009/

(CLARIFICATION) News about FASB Mark to Model/Market:
http://www.reuters.com/article/marketsNews/idUSN2620104920091026

ALSO check out YouTube user Debtruth1:
http://www.youtube.com/user/debtruth1
She has a knack for researching and keeping all of the disgusting business relationships straight especially as it relates to GMAC! She's got good stuff!

Category:

News & Politics

Tags:

• dollar collapse
• economic collapse
• web bots
• h1n1
• gdp
• stock markets
• gerald celente
• peter schiff
• US collapse
• federal reserve
• monetary policy
• alex jones
• visionvictory

[debtruth1]

great vid, as always! can you please cheer me up by sending a lou malnatis pizza and a portillos beef and cheddar?  thanks! :)

[networkingman]

Lou Malnatis is the best, Gino's is close though! There used to be an awesome Chicago hot dog place on Canal and Washington, best dogs on earth! After some 50 years they closed up, what a shame!

[1pigslayer]

i am wondering how long we can sustain a monitized debt? cause if we can sustain it, than this shurade can go on forever!

[networkingman]

Well here's the thing about that, the debt will become so great, and with falling tax revenues, there WILL come a time the US government can no longer service JUST its debt payments. That's game over for sure.

[MengersDisciple]

Thanks for the update, nm.

It's depressing to see the GDP up, knowing the cost. Even more depressing is that the sheep out there, who do not even know what GDP stands for, will be thrilled that "they" are saying economy is recovering.

Mark to market is coming back in January? I thought the switch to fantasy accounting was permanent.

Can you give some more details on this? Also, is this a global change in accounting rules (market to model to market) or is it just US accounting?

[networkingman]

I need to clarify this, thanks! I'll post a link in the sidebar about this. The FASB has come under fire recently in allowing banks to report under mark-to-model methods of reporting assets. A proposal is coming in January perhaps February and many are expecting FASB to go back to mark to market then.

[BackBurnerNews]

It's sad that people actually believe we are in a recovery.

[PauliesCustoms]

I have already read the news for the day "Recession is Over" ! I for 1 am sitting by the phone waiting for the call to go back to waork and that all of our 401k's are back and I just know the minute the phone rings a giant freakin rainbow is gonna fly out!!!

Everything is OK, go buy tyhings you dont need, with moneys you dont have, dont waste time on not wasting dollars.

Hurry! my beautiful little flock!! BUY BUY BUY

LMAO Recession is Over

Paulie

[Howouldado]

Thanks, iloveterriers! I wish you the best of luck in you job search. There is something out there.

[iloveterriers]

Seriously, how much more money can the Fed keep printing? I mean, there has to be a limit here -- are they going to keep printing ad infinitum; will they keep printing until every American and his or her children, granchildren, and future generations in advance all owe more than millions each?? This is just so ridiculous -- I cannot believe this -- unbelievable.  There is just NO WAY that this can be conceivable -- it's like a nightmare.

[iloveterriers]

Lots of typos in my last comment. Ugh.

[iloveterriers]

On a more serious note, the story about the interview was true, sadly enough, and the more I drive around day by day the more "for sale" and "for lease" and "for rent" and empty lots of stores keep popping up. Anyone who can actually believe the economy is getting better is out of touch with reality.

The reality is staring us right in the face every single day we wake up and look around us. And I don't mean at thesnooty mall full of rich people shopping -- jus take a look at the REAL WORLD.

[iloveterriers]

Wow. I should go out and buy lots of stuff instead of saving my unemployment cheques to pay my basic bills since the economy is doing SO well. No wonder when I went to another job interview yesterday I was told that many mental health facilities are shutting down because the economy MUST be getting better if there is NO MONEY for social services programmes. I think I'll go to the casino and just blow my money since there will be tons of jobs for me left. Woohoo.

[iloveterriers]

I like how you did that "pump" visual thing. Gives your comments a little je ne sais quoi. :)

[NovusChaoMundi]

why do they bother? who actually believes the government controlled media anymore.

[lilbitparanoid]

Hoe hoe hoeing- that's what I'll be doin for Christmas money this year ; )

[Howouldado]

pumP, puMP, pUMP, PUMP up the volume so everyone can hear about the great news concerning the economy and will spend their SDR's this Xmas season. We'll see.

[Howouldado]

Let's E X T E N D tax credits, let's E X T E N D unemployment benefits, let's E X T E N D this recession! If the economy were worth it's weight in horseshi*, we wouldn't be E X T E N D I N G anything. Everything is better so let's go shopping! LQTM - laughing quietly to myself.