Bernanke Is Wrong! The Economy Is Getting Worse, Not Better, Schiff Says

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http://tinyurl.com/y9jbnv2

The Fed upgraded its view of the economy Wednesday, declaring: "Economic activity has picked up following its severe downturn."

But forget all the talk about recovery, V-shaped or otherwise. The economy is actually worse today vs. during the depths of the recession, according to Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0.

"Ben Bernanke is keeping his record of perfection intact of never getting anything right. Once again he's gotten it wrong," Schiff says. "If the Fed really thought the economy was sound, why does he have it on life support? If he pulls the plug, our sick economy is going to die."

Although the Fed never said the economy is "sound", Schiff is referring to the FOMC's renewed pledge that "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period."

Nothing that's occurred in the past six months has changed Schiff's view that America's economy is headed for disaster. In fact, he's even more convinced a true "currency crisis" awaits, and that China will soon stop enabling our reckless borrowing, the basis our "phony" economy. The coming collapse of the dollar and bursting of the Treasury bubble will have devastating consequences for ordinary Americans, and any investors based in dollars, he says.

The economy today is "worse [because] we are much more deeply indebted than in March," Schiff declares. "We've dug ourselves a deeper hole."

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Obama’s "Agitprop" Economic Policy is hiding the Economic and

Obama’s "Agitprop" Economic Policy is hiding the Economic and Financial System Train Wreck Ahead

Behind the headlines of messages from Ben Barnanke that “We are out of the recession,” “Things are better just look at the stock market” and the other messages offered to the American public is a strategic manipulative plan by the Obama administration to attempt to fool the American public into believing that the economy getting better and their Marxist/Keynesian economic policies are working.

This administration believes that if they pump enough money into the financial markets and run the stock market back up long enough and tell people long enough that things are better; somehow things will miraculously get better. This is the same practice used in the USSR called “agitrop.”

agitprop [aj‐it‐prop], a Russian abbreviation of ‘agitation and propaganda’, applied to the campaign of cultural and political propaganda mounted in the years after the 1917 revolution. Agitprop techniques, based on the political education of the immediate post-revolutionary period, were basically solidified in the 1920s. Early Agitprop in the cities included parades, spectacles, monumental sculpture, posters, kiosks, films, and agit-stations, located at major railroad stations, which had libraries of propaganda material, lecture halls, and theaters. These varied activities continued throughout the Soviet period.

Using these manipulative techniques and The Federal Reserve’s illegal market collusion and manipulation with their "Quantitative Easing" a/k/a printing dollars to pumping into equities (stock market) “we will either see the Dow market run to 20,000 or the dollar collapse.

Obama and his team believe they can use the communist techniques to convince Americans that everything will be okay. Unfortunately, the data tell the truth about the sad state of our economy.

About Obama's psychological manipulation - Behavioral Economics a/k/a agitprop
The Audacity of Data - http://www.tnr.com/article/the-audacity-data?id=4d40a39e-8f5...

How Obama Is Using the Science of Change –
Time Magazine - http://tinyurl.com/cwmes5

Using Psychology to Save You from Yourself
http://www.npr.org/templates/story/story.php?storyId=104803094

Behavioral Economics and Obama
http://econ4obama.blogspot.com/2008/05/behavioral-economics-...

republican

um, you have some repeats here in 'banking and financial'.

Ron Paul is my President

Ron Paul is My President

Banking and Financial

Banking and Financial

2,256 banks an score an "F"
http://www.investorsinsight.com/blogs/thoughts_from_the_fron...

The Coming Consequences of Banking Fraud
http://seekingalpha.com/article/160619-the-coming-consequenc...

Regulators seize two more banks
http://www.dailyfinance.com/2009/09/18/regulators-seize-two-...

Banks Face Loss of Debt Guarantee - WSJ.com
http://online.wsj.com/article/SB125253151037397187.html?mod=...

Are We Facing a Banking Crisis?
http://www.marketoracle.co.uk/Article13110.html

How to Prepare For China’s Coming Derivatives Default
http://www.marketoracle.co.uk/Article13426.html

$180 Trillion US Bank Derivative Exposure
http://bigpicture.typepad.com/comments/files/bank_deriv_expo...

Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman - Bloomberg.com
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu...

Report on Bank Trading and Derivatives Activities
http://www.occ.treas.gov/ftp/release/2009-72a.pdf

Chinese Defaults Worry Foreign Banks
http://online.wsj.com/article/SB125252560206996817.html

China warns banks on OTC hedge defaults - report
http://news.businessweek.com/article.asp?documentKey=1221-In...

Foreigners sell more U.S. assets in July
http://www.marketwatch.com/story/foreigners-sell-more-us-ass...

Why I’d Get Short Financial Stocks As Soon As Possible | Daily Markets
http://www.dailymarkets.com/stocks/2009/09/14/why-id-get-sho...

US Solvency and Dollar Stability

US Solvency and Dollar Stability

"US is on the slippery slope to economic collapse"
http://www.youtube.com/watch?v=d-UUBTASHHU

U.S. about to hit debt ceiling - again
http://money.cnn.com/2009/09/16/news/economy/debt_ceiling/in...

Social Security Trust Fund has $6 Billion August Deficit
http://www.istockanalyst.com/article/viewarticle/articleid/3...

FHA in danger of seeing its reserves fall below the level demanded by Congress
http://blogs.reuters.com/rolfe-winkler/2009/09/04/wsj-loan-l...

The Market

Insider selling is 30x insider buying
http://www.youtube.com/watch?v=i1MVBea6Qaw&feature=player_em...

Insiders sell like there's no tomorrow
http://money.cnn.com/2009/09/10/news/economy/insider.sales/i...

Long-Term Mutual Fund Owners Flee the Stock Market
http://www.ici.org/research/stats/flows/flows_09_09_09

Economic Editorial

Economic Editorial
Airline, media and auto companies risk bankruptcy:
http://www.reuters.com/article/industryNews/idUSTRE58F3EF200...

Bernanke Is Wrong! The Economy Is Getting Worse, Not Better, Schiff Says
http://finance.yahoo.com/tech-ticker/article/342659/Bernanke-Is-Wrong!-The-Economy-Is-Getting-Worse-Not-Better-Schiff-Says?tickers=^DJI,^GSPC,SPY,DIA,TBT,UDN,GLD&sec=topStories&pos=9&asset=&ccode=

The Economy Is A Lie, Too By Paul Craig Roberts 9/21/09
http://www.opednews.com/articles/The-Economy-Is-A-Lie-Too-by...

"Not even Jesus could reverse the decline in the US" - Engdahl
http://www.youtube.com/watch?v=xLuJNYW6AtU

Economic and Financial System Train Wreck Dead Ahead!
http://www.marketoracle.co.uk/Article13613.html

The Great Fakeroo Recovery by Llewellyn H. Rockwell, Jr.
http://www.lewrockwell.com/rockwell/inorganic-recover128.htm

The Global Credit Crunch Is Not Receding, It Is Intensifying"
http://www.zerohedge.com/article/albert-edwards-global-credi...

'Major crisis still ahead, past one was minor'
http://www.youtube.com/watch?v=wBMnDLQr7-M&feature=player_em...

Recession: We're Not Out of the Woods Yet
http://www.washingtonpost.com/wp-dyn/content/article/2009/09...

The Bailout Bill Comes Due, Vexing Agencies
http://www.nytimes.com/2009/09/19/business/economy/19bailout...

Credit crunch sets stage for big shakeout in commercial real estate
http://www.dallasnews.com/sharedcontent/dws/bus/industries/c...

Real Economic Conditions

Real Economic Conditions
Homeless School Children Exceeds 1 Million Mark 9/21/09
http://www.nytimes.com/2009/09/06/education/06homeless.html?...

Food stamp list soars past 35 million: USDA
http://www.reuters.com/article/domesticNews/idUSTRE5825OT200...

Census: 40 million in U.S. now live in poverty
http://www.washingtontimes.com/news/2009/sep/10/census-40m-u...

6.23 million On Unemployment- Hundreds of Thousands Lose Benefits
http://www.google.com/hostednews/ap/article/ALeqM5gNiyJ905Ho...

Real Unemployment Rate Hits 16.8%
http://www.zerohedge.com/article/real-unemployment-rate-hits...

1 in 25 US Homes in Foreclosure
http://www.bloomberg.com/apps/news?pid=20601103&sid=a3dnPxhc...

Millions More Foreclosures Coming, Treasury Warns
http://www.cnbc.com/id/32756518

U.S. mortgage delinquencies set record 9/21/09
http://www.reuters.com/article/ousivMolt/idUSTRE58K29E20090921

"Option" mortgages to explode, officials warn
http://www.reuters.com/article/ousiv/idUSTRE58G5U320090917

U.S. credit card defaults up
http://www.reuters.com/article/ousiv/idUSTRE58E6LH20090915

Money fund outflows quicken as US insurance to end
http://www.reuters.com/article/bondsNews/idUSN172156

US credit shrinks at Great Depression rate prompting fears of doubledip recession
http://www.telegraph.co.uk/finance/financetopics/recession/6...

So...

the links above clearly indicate that the "Recession is over" and to not look past the yellow police tape because "There's nothing to see here"

~1776

PRICELESS

"Ben Bernanke is keeping his record of perfection intact of never getting anything right. Once again he's gotten it wrong