The 2013 Economic Reality Check
VANCOUVER (Bullions Bull Canada) -- It has become an exhausting process attempting to translate all the fantasy numbers passed off on us as "economic statistics." It's even more exhausting trying to unravel the Machiavellian nonsense dubbed "analysis" -- and then trace back a path to sanity.
So rather than making a futile effort to rebut all of this vacuous propaganda in isolation, this article is an attempt to provide a (necessarily abbreviated) summation of the economic fantasy world presented to us by the mainstream media.
As always, the best place to start in exposing this statistical mythology is the U.S. housing market, since that's where the propaganda machine provides us with the best laughs. Ever since the collapse of the U.S. housing market in 2007 every two or three months the mainstream media has proclaimed the U.S. housing market is "starting to recover."
With the U.S. housing market supposedly experiencing roughly its 20th "recovery" over the past five years, this time the mainstream media assures us they're serious. Let's take a look at what the charts say.As readers can clearly see, this chart shows new home starts "rising" to a level equal to the worst previous housing recessions in recorded U.S. history. To refer to this as a "recovery" is just plain silly. However, what makes this chart even more absurd is that most of these "housing starts" don't even exist. We can establish this with certainty by looking at two more U.S. housing charts: What we see in these two charts are two ridiculous contradictions. When we compare the new home "starts" with "sales" we see the starts have been exceeding the sales by nearly a 2:1 margin every month for the past five years. Topping that absurdity, we have the inventories chart that shows that despite "starts" exceeding sales by a 2:1 margin, inventories have supposedly plummeted straight down.
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