Those are not green shoots, they are just garden variety weeds

The green shoots that the Administration was trumpeting as the beginning of an economic renaissance,  ended up succumbing to too many weeds, too much watering, and way too much fertilizer.

The government is displaying a stiff upper lip, and has enlisted the aid of Wall Street in an attempt to put a positive spin upon a deteriorating market.

Companies are exceeding  lowered  expectations, with shrinking numbers of employees, reducing  overhead to make “less gross sales” look like more profits.

The stark reality is that the government  Bureau of Labor Statistics is cooking the books on unemployment and the state of the economy.

If you count unemployment as is used to be calculated, the picture that they paint as 9.5% unemployment is vastly different and much more ominous.

The real number of unemployed Americans is close to  30 million people, or nearly 20% of the work force. When you compare this statistic to the unemployment figure of approximately  25% during the Great Depression which occurred 3 or 4 years after the 1929 market crash, you can see more rough times ahead.

The bleak statistics are ominous because we are just at the beginning  of the spreading recession/depression.

The disparity between government statistics and reality are created by the following deceptive reporting methods.

#1. People who have used up their unemployment benefits and are no longer collecting, are not counted.

#2. The people who receive the extended emergency unemployment benefits granted by congress are not counted.

#3. They are taking small business job creation estimates and have projected them as actual jobs. In reality, the small businesses are getting taxed and squeezed out of business, or have been forced to contract, not expand .There is easily a large net loss not increase in small business hiring.

#4. People forced to take part time jobs to survive, are counted as employed by the government.

Any trip to shopping malls, Main Street America, and most commercial and industrial areas of any city will show dramatic and massive closing of small businesses.

AVAILABLE  and FOR Rent signs are everywhere and the numbers are growing. This is causing the beginning of another real estate mortgage crisis. The commercial property default,

And the slide continues.

More on the Prime Adjustable Rate Mortgage(PARM) later.

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