PopCon: The ‘Economic Recovery’ Lie
By: James West
Jan 31, 2011
It is only human to seek reasons for optimism, and to find comfort in self-delusion. “You’re going to be just fine,” is probably one of the most frequent lies told among family members when serious injury or illness occurs. We have to believe we’re going to be “just fine”, because the alternative is too painful, and painfully unacceptable.
However, when the tendency towards delusion overshoots mere comfort and interferes with the potential effectiveness of a remedy, a brisk slap across the face is occasionally required to exorcise the delusion and let the healing begin.
Such is the case with the global economy and its top leadership. The obsession among Ben Bernanke, Timmy Geithner, and Barack Obama in convincing Americans the storm is over and the rainbow is imminent are thoroughly preventing the corrective influence of unfettered markets from bestowing their therapeutic effect upon us. Only gold, not U.S. dollars, can fill the pot at the foot of the rainbow. They need a good smack across the face to get this through their stubborn little pointed heads.
Japan just got a nice resounding smack across the face from Moody’s. Downgrading the debt of the proud and massively self-conscious Japanese is more like a smack across the face after pulling their pants down