The Recession that Never Was

"Over the past few weeks, there have been dozens of forecasts in the newspapers about the possibility of a coming recession. In most of these, the forecasters have not been identified as anything more than “economic experts,” etc. What is going on is just a public relation campaign to convince the public that something bad will happen if we do not print money at a faster and faster rate. Usually no evidence is cited, just “experts say.” Sometimes there is an incredibly ignorant use of statistics whereby data which will be revised away in a few months is cited as authoritative. For example, the preliminary employment report for August ’07 showed a drop of 4,000. This was widely cited as evidence that the economy was heading for recession. Then the number was revised and is currently listed as an increase of 93,000 (very close to average for the year). No apology from the recession mongers. These people pretend to be scientists attempting to predict a recession, but in fact they are public relation shills, working for the bankers, and trying to convince the media to support a central bank policy of easy money and credit."

Do not forget your alchemy lessons...

WP