Global Economic Collapse

This morning I waited for the U.S. unemployment report before naming my RANT. Thus, you can see it was another horror show, a net gain of just 80,000 jobs, well below the 95,000 estimate (not to mention much higher “whisper numbers”), and including, of course, 102,000 PHANTOM JOBS from the birth/death model. In other words, just two days after Helicopter Ben told us he saw “economic improvement”, it turns out he was proven to be, yet again, a LIAR. The only reason the Fed did not OVERTLY announce QE3 this week was because it is scared of GOLD and SILVER exploding to all-time highs, damaging its ability to turn on the printing presses and, in turn, Bernanke’s goal of reappointment in 2014. But don’t worry, QE3 is coming, as is QE4, and QE5…until the dollar eventually collapses.

I could have started this RANT with the DISASTROUS results of the G-20 meeting, released this morning, but before that I want to focus on the GLOBAL ECONOMIC COLLAPSE.

No matter how much money is printed to “extend and pretend” the façade of solvency, zombie banks, municipalities, and sovereign nations will NEVER climb out of the respective holes they’ve dug, per my FARGO RANT from last week. Even if political leaders had the WILL to reduce debt (risking massive social unrest in the process), they don’t have the ABILITY to survive the exercise due to the strengthening headwind of a COLLAPSING global economy.

Today’s employment data PROVES that last week’s GDP report was a sham, literally the ONLY positive piece of economic data I’ve seen, and not un-coincidentally the most politically important. I’ve discussed at length the many flaws, and in some cases outright lies, in the GDP data, and the employment report accentuates those lies to anyone doing just a modicum of simple math.

http://www.zerohedge.com/news/nonfarm-payroll-increase-less-expected-80k-unemployment-rate-drops-90-vs-91-consensus

As noted in RANTS earlier this week, U.S. consumer sentiment and expectations indices are plunging to all-time lows, akin to levels at the BOTTOM of GLOBAL MELTDOWN I in early 2009, amid RECORD unemployment and rising PPI and CPI inflation (anyone notice gasoline prices are approaching this year’s highs?). Just yesterday, Bloomberg’s Consumer Comfort Index (NOT published by the lying government) hit a new all-time low…

http://www.zerohedge.com/news/consumer-comfort-index-and-state-economy-almost-record-lows

…while municipal bond downgrades surged to levels last seen at…yep, the BOTTOM of GLOBAL MELTDOWN I. Helicopter Ben sure is right about one thing – future growth (there won’t be any, by the way) will be “frustratingly slow.”

http://www.zerohedge.com/news/will-meredith-whitney-be-proved-right-end

And let’s hear it for America’s crony capitalistic system! Yesterday, Freddie Mac reported a record $6 billion loss in its role of co-cesspool manager for the U.S. mortgage industry, upping cumulative losses since its CEO, Ed Haldeman took over two years ago, to $21 billion. Haldeman announced his resignation yesterday, but don’t worry he will receive a $4 million BONUS!

http://www.zerohedge.com/news/final-tally-outgoing-freddie-ceo-gets-4-million-bonus-receive-21-billion-bailouts-after-massive

Continued here