The US Nears End-Stage Kremlinism

Monday, February 27, 2012
By Paul Martin

Economicnoise.com
Feb 27 2012

Economic conditions continue to deteriorate while the political class and its cronies struggle to maintain the fable of an economic recovery. There is no recovery underway, nor can there be one before a complete and total economic collapse. Our political environment is akin to a drug addict who is unwilling to accept the pain associated with a cure for his illness. Each sign of withdrawal is fortified with a bigger dosage of the poison. Such a strategy may defer the pain of a cure, but it does so only at the risk of death and a much more severe recuperation than necessary.

Most of the so-called remedial policy measures have been taken and have had little to no effect. Matters are better than they were at the trough, at least according to government reports which are becoming increasingly incredible. Here, for example, is a devastating comment from Gallup via Doug Ross:

Regardless of what the government reports, Gallup’s unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January.

This manipulation of government data is not new nor is Gallup the only one to point it out. John Williams of Shadowstats.com has argued for years that government statistics have been carefully managed. Mr. Williams shows on his site the difference between the government measures as originally defined and as defined today. Each revision has reduced the results reported in bad metrics (unemployment, CPI, etc.) and increased the results of good metrics (GDP, etc.).

What is new is that an entity with the stature of Gallup has spoken up and effectively accused the government of lying. Given the power of government and its almost unlimited means of retribution, such a stance is brave and likely unwise. At some point, the gap between reality and fiction becomes so large that it cannot be ignored.

The Rest…HERE

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