Let Us talk Economy

Some new economic reports show that unemplyment is low, consumer spending is up and jobs were created. All this lead to a surge on Wall street, but what does it mean?

Consumer spending is up, but no one mentions that most of it is on credit, so not much real money in circulation. Jobs were created, but no statement of where they were created; what industry, most likely in the service and fast food. Unemployment low, but no report on the unemployed that have fallen off the rolls. Home sells up slightly, but that is the vultures swooping in to take advantage of the foreclosures.

These reports are issued to give a rosier than not picture of the economy; investors must keep active and good news is mined to make that happen. I say go to the street and talk with "real" peoploe who have to deal with "real" issues. One will find that it is only rosy for the investors, the rest of us are in a sad way.

The media is there only to assist the investor. For instance a couple of months ago GE closed some plants and laid off some workers but it was never reported on NBC, who by the way is owned by GE. But yet today, NBC reported that GE would have better than predicted profits. Just another way of keeping the charade going.

The people need an accurate picture of the economy that they are creating for others to take advantage of on a daily basis.