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Message: Lies We're Being Told: Interest is Consumption, Saving is "a Negative Act"

Lies We're Being Told: Interest is Consumption, Saving is "a Negative Act"

posted on Feb 03, 2010 03:29PM

"Who", really now, is so gullible in believing the incessant discharge of falsified numbers that the "Master Class Dictatorship" is churning out on a monthly bases, like the positive 5.7% US GDP growth last reported? For the life of me, I can't imagine people can be so credulous and falling victim to such utter bunk......that Chinese college students could recognize such gibberish as being quintessentially laughably inept. Like, lets get real people! How much longer can this continue? Sheople, time to awaken......like Uncle Jimmy has stated time and time again, "where is the rage?"

Below is an excerpt from a piece by John A. Rubino.

....still long and strong ECU...bd1

"The latest piece of deep thought from iTulip’s Eric Janszen explains why, if the recession is over, so many people remain in such bad shape. More specifically, how can U.S. GDP be up by a robust 5% when oil imports and rail traffic are down and unemployment is still rising? The answer, in a nutshell, is that once again we’re being conned. Get this: Washington defines interest on credit card debt as “consumer spending” and adds it to GDP. So as debt soars, the gap between what we spend and what we actually receive grows, but the economy appears to improve. Eliminate that accounting trick and the numbers look like most people feel, very bad and getting worse."

http://www.kitco.com/ind/Rubino/feb032010.html

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