Friday, 22 January 2010

Obama White House Is Lying to You

Author, investor and longtime Wall Street observer James Dale Davidson says our government is lying to us: There is no genuine economic recovery happening.

“I think what we have seen ... is a simulated recovery which has been generated by the government faking it in a lot of different ways," putting out what he calls statistical falsehoods on economic numbers "to make it seem that the economy is stronger than it is,” Davidson told Newsmax.

For example, calculations for the recently released unemployment figures released failed to include the fact that the Bureau of Labor Statistics had undercounted the number of unemployed people in 2009 by 824,000 persons.

“They’re supposed to be doing a benchmark adjustment ... and if they do, the unemployment rate will shoot up even higher,” Davidson says.

"A lot of the supposed improvements have been faked by the government," Davidson says.

http://moneynews.com/StreetTalk/davidson-obama-lying-whitehouse/2010/01/18/id/346656

The key point to keep in mind here is that the US economic recovery is likely to be short lived. Prepare for a resumption of the financial crisis.

[Posted at the SpookyWeather blog, January 22nd, 2010.]

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