The mainstream propagandists are putting forth the lie of a recovering economy, again, using figures as fraudulent as those being reported in reference to the GOP Primaries and Caucuses. They are saying the economy grew at 3% in the fourth quarter, meeting expectations. Seeing as how our economy is based on debt and foreclosures, this number is probably correct. However the reality is that the corporate elite took three more percent of what is left of our natural resources through the debt exchange better known as the stock market.
The propagandists are also saying that personal income is up 2% in February. This is nothing more than our yearly tax returns, people, and it is a piddly amount, compared to the continuing record profits the 1% are accumulating through the theft of our natural resources.
It is further being put forth that consumer spending is up .8% in February, the best gain in seven months, again, a gain for the 1% and a loss for the rest of us. If you have been able to go to the grocery store or gas station recently I do not have to explain this one to you, as you already know you are paying a lot more for a lot less.
In reality this number represents a drain on savings in the US as witnessed by the next number they bring up which is that the personal savings rate was at 3.7%, the lowest since August of 2009.
Also, the orders for durable goods in February were only up 2.2%, this is less than expected but completely logical as every month we in the 99% have less disposable income.
Pending home sales are down .5% in February; again, we are getting poorer. Freddie Mac is charging 3.99% on a thirty year fixed rate mortgage. Remember, this money they are lending out at 3.99% was given to them, interest free, by the Federal Reserve. It was indeed borrowed in the name of our grandchildren.
The thieving 1% continue to grow more grossly and gluttonously wealthy as they continue to steal our wealth through our natural resources. We, the 99% of the United States, are the richest people on this planet. We are each born with an estate that would make a Saudi prince blush.
If you follow From the Trenches this week you are going to find out exactly how the theft is accomplished and you are going to find out what has been taken from you, how it was taken, and who took it. Most importantly, you are going to find out how to stop the theft, recover the wealth, and punish the criminals.
God bless the Republic, death to the international corporate mafia, we shall prevail.