The only thing “growing” in the current US economy is the malignant tumor of Global Fascism, which appears to frequently burst forth with a veritable puss-bag of nonsensical green shoot rhetoric, as in this ludicrous Bloomberg CONfidence inspiring article (NOTE: as of 3:00pm today, you won’t see this exact verbiage below, because it was later edited, however, the quote below is exactly what was published earlier this morning).
The measures propelling the leading index, including a declining trend in claims, rising stocks and low short-term borrowing costs, are stopping the erosion in consumer finances and reducing the risk the economy will backslide.
Really, we must get back to journalism in America and stop using mainstream media as a backstop for behavioral programming of the sheople. The so called declining trend in claims (whatever that may be) if referring to jobless claims, is utterly contradicted just a few paragraphs below:
The number of Americans filing first-time claims for unemployment insurance rose by 11,000 to 531,000 last week, figures from the Labor Department showed. The reading exceeded the 515,000 median estimate of economists surveyed and served as a reminder that the labor market will be slow to recover.
Oh really? But we were just informed of a declining trend in claims as a sign of growth … Ahhh, I get it now, GROWTH IN UNEMPLOYMENT! Still contradictory, but I guess that’s the growth we’re talking about. Then we have rising stocks … I’ve nearly burst my spleen over the hilarity of the DOW lately, but don’t take my word for it — here’s what a reformed “Wall Street Warrior” has to say about that! But how are low short term borrowing COSTS a sign of growth? Is there a statistic that shows that these lower costs equate to increased borrowing? And even if it did, does this signify growth . . . or just more debt?
Oh wait, I get it now, the growth of debt is another sign of GROWTH, just like in our Federal debt and deficits – Now there’s some HUGE signs of growth there.
Really Bloomberg. Get serious. You can only stoke so much greed with this Keynesian / Thalerian / Sunsteinian psycho-dribble. The debt robots are broken. The only thing growing is the income of the financial sector, and if you consider the destruction of the world’s middle class and the redistribution of it’s wealth to the ruling, “gaming” class as a sign of “growth”, then you force me to call it as I see it – BAD FORM.
(A note of acknowledgment is due for correcting the obvious contradiction in the original article, but the general green shoot propaganda is still quite misleading)
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My comment is not for this particular post. It’s the way I view not only this post but your entire site. KEEP UP THE GREAT WORK!!! Our tax dollars has already made these white collar criminals too wealthy already!
But why should they think any different? We’ve bailed out these people several times over the past century. They knew the taxpayers money would come to the rescue when they entered their ‘den of theives’.