Green shoots in the US? You have to be kidding, Mr Economist – not when investment has continued its fall off the cliff. [Hat tip Jeffrey Tucker at the Mises Blog.]
“The green shoots that people think they see,” says economic expert Peter Schiff, “don’t reflect any genuine economic growth. They reflect the initial reaction to the stimulus. If you shoot someone up with heroin, you’re gonna get a reaction before there is a withdrawal.”
And just notice how each of the “investment-led booms” of recent decades correlates to a period in which “The Fed” was pumping up the money supply. And how each of the busts – each of which those periods of monetary pumping were intended to fix – has been progressively larger than the last one.
You really can’t fake economic reality, can you. No matter how large your printing press.
4 comments:
This recession eats shoots and stays.
Simply loser stuff. There are plenty of opportinities in recessions.
Our family's money is now going into MGM Studios - a Jewish associate has just bought it (in bad times - it is not doing well).
Just like property and financials over the last 3 months - if you follow the Jews you cannot lose.
Unlike Schiff's clients who lost 70% of their investment betting against USD last year.
This recession has been very good to us.
I speak from my business position: I am having my best year EVER. 2008 was the best EVER this time last year. Fearing recession is a self-fulfilling prophecy. Losers beget losers. To find a green shoot all you need to do is kick the shit encrusted on it, off the top of it, believe me you'll find a healthy green shoot.
Ruth, what's happening in Iran now? Any news (something we/public don't know) from your mates at the US Consulate?
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