Thursday, December 09, 2010

The Economic Cancer is Spreading More Slowly

I wanted to call it "Derivative Economics" where people are so desperate to paint a "bright" economic picture they claim a "slowing down in the collapse" is a good thing. Ergo, it's akin to having a cancer patient and saying,

"Hey! GREAT NEWS! The cancer is spreading MORE SLOWLY NOW!"

"You mean I'll survive?"

"Oh, good lord, no! It's still spreading like a wildfire. Just slightly less fast now! We've increased your life expectancy from 2 weeks to 2 weeks 15 minutes!"

Ergo, why I tire of these types of stories.

Therefore, ladies and gentlemen, it's time for the ole Captain to do the job of the AP and just show you what unemployment claims look like.

I love how the "recovery" is still higher than any peak of unemployment in the past bar the Volcker Recession.

You know what to do!

Enjoy the decline!


Anonymous said...

I also saw a recent news report claiming, that food stamp use just hit the highest level ever recorded in the US. That shows everyone what sort of bogus numbers the US government are producing. Unemployment, CPI and other "official" government statistics are highly manipulated. Almost every component of the CPI has an "adjustment". Their numbers are a joke.
It`s time for media to start calling a spade a spade.

oxygentax said...


I read that as every other recession, the base level of jobless has bottomed out at 2 million or so. It appears as though this time, it's going to bottom out at 4 million people or so.

Am I extrapolating that correctly, or are you guys still in the middle of one heck of a s$*%storm?

Bret McSpadden said...

I stumbled upon your blog trying to figure out different things in regard to spending and deficit and revenue etc. I see a lot of good info but no solutions. I also don't really understand what is going on. Can you please sum up why our country is in so much debt. Who caused it, growth of economy in relationship to debt, the cause of the fall ets. I don't know anything about economics and am tired of this left right fight.

Anonymous said...

The funny thing is if this were a republican presidency, you know the way the stories would be spinning this crap.

And the MSM wonders why it's losing audience... here's a clue A . "Mainstream" implies you need to be reasonble, honest and fair, an opinion is ok, but don't be silly.
B. Be smart and report some news that's not weeks out of date.

Captain Capitalism said...


In short, the reason we're in so much debt is that people wanted to spend more than they made.

This manifests itself in two different ways;

1. Government deficits (thereby adding up to the national debt) where people demand things like social security, medicare, free education, free money, lunch, etc. etc. BUT they don't want to pay for it. So savvy politicians know to increase spending, but keep taxes low, running up a huge national debt.

2. The Stimulus. This is simply a what is called "Keynesian" nightmare. It more or less added another 50% of debt in 2 years in the vain hopes of trying to jumpstart the economy. THis is tied to 1 in that it just added to more government debt.

3. The American people. Household debt as a percent of GDP is hovering around 95%. Like the government we want to spend more than we make. So we take out car loans, HEL's, student loans, credit cards, etc.

That's it in a nutshell. WE're too damn lazy to work for what we want.

Unknown said...

Saw this coming from a mile away. enjoy these days for we are now enetering to the age of over opressive gvmt. thank god some things are still privatized