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Friday, February 18

Economic Signs of the Times

Things never change... same old, same old.

That's what most people seem to think is the way the world works.

This idea is mostly an inaccurate way of seeing the world I think!
At least, this is what I observe.

If you were to call your stockbroker today, I'm sure he/she would say "There has never been a better time to invest". I wonder whether the broker is putting their money into the things they are promoting? If they are of the 'in group', I doubt that, and if they are not and are just 'savvy' they sure are not doing the investing they are probably promoting.

There is an excellent weekly review of the financial state of the US being done by Donald Hunt, and one can get a weekly update on the latest unbiased news about our economic situation by going to his blog called "Signs of the Economic Apocalypse".

It is rather sad that while people like Alan Greenspan, the head of the privately held corporation of major bankers - mistakenly called the 'Federal' Reserve, has stated that 'those who are in the know have already made the proper moves to secure their assets', the average person has little or no understanding that our financial system is on the verge of a major collapse. A top investment analyst at Morgan Stanley has also made the same kind of statements.

I spoke to an employee of a major investment house a few weeks ago who said that my idea about the economy 'going South' was ridiculous, as he had just been to a seminar given by some 'top economists' who assured him that the so-large to be unheard of trade-imbalances, the budget deficits, unemployment figures, job-outsourcing and a whole raft of other major problems with our economic outlook were "not significant factors in slowing the continuing growth of the economy and there were many very positive indicators to show that things were really going very well for all of us, like a big spurt in 'housing starts' and other significant indicators". He finished with "This economy can only continue to go up".

Yeah... just go back to sleep. Everthing is just FINE!


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