The Phaserl


All Economic Data Are Lies

by Andrew Hoffman, Miles Franklin:

Barron’s, which like the Wall Street Journal, Financial Times and other financial publications has caused readers to lose billions if not trillions over the years; ironically, whilst feigning “conservative” investment principles.  Of course, they are no less “conservative” than CNBC and other bottom fishing MSM cheerleaders – who cumulatively have as little care of investors’ well-being as the Fed of “the economy”; or politicians, the “99%” that don’t fund their campaigns.  In a nutshell, sensationalism sells and bullish sensationalism even more.  Which is why, this weekend’s blaring Barron’s headline that “this time is different” – no less, on the 18th anniversary of Alan Greenspan’s infamous “irrational exuberance” speech – is as ominous as it is disingenuine.

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3 comments to All Economic Data Are Lies

  • Eric

    Well said Andy. Very well said. My 2 favorite parts…

    “Why anyone believes a word Washington or Wall Street says is beyond me, as their perma-bullishness has all but destroyed the “99%” over the past 15 years – first in the crash they caused; next in the real estate collapse they created; and finally, the debt slavery their printing and spending orchestrated.  Today, the global economy sits at its low point of our lifetimes, whilst both debt and the cost of living have reached historic highs; and sadly, the paths of least resistance will exacerbate these trends for the foreseeable future.  So is the terminal phase of a Ponzi scheme; in this case, history’s largest.”
    “It is truly shocking how few people realize the recent “dollar rally” is no different than in 2008; i.e., catalyzed solely by fears of global economic collapse and NOT U.S. “economic strength.” 

    It’s scary how little most people know.

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