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Richer on Paper, Poorer in Fact |
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The holiday season, when Americans sink deeper into debt… The triumph of statistics… HOUSING CRASH WORSE THAN 2008? Kiyosaki's new video exposes the 50% price collapse coming. Institutional landlords are DUMPING homes. Are you next? WATCH THE EXPOSÉ NOW
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Dear Reader, |
I am informed that the American holiday shopper is in funds this year. |
The National Retail Federation estimates per capita spending this season will exceed $1,000 — a 4% expansion beyond last season's $976. |
Just so. Yet is the American consumer truly flusher this year than last? Or has inflation merely saddled him with a greater burden? |
I incline, based upon recent unemployment data, towards the latter. |
Meantime, total outstanding United States credit card debt scaled a record $1.32 trillion in this year's third quarter. |
That figure represents a 6% increase over last year's third quarter. |
What is more, the average United States household wallows under $10,983 of credit card debt. |
I understand much of it has been consecrated to basic consumption — not needless luxury. |
Is This the Picture of Prosperity? |
WalletHub's latest Credit Card Debt Survey reveals that: |
43% of respondents claim they are still servicing credit card debt from last fall. |
33% expect to take on additional credit card debt by year's end. |
Some 40% of Americans claim they have attained credit exhaustion — they can shoulder no more debt. |
37% are more fearful of lifetime debt bondage than of artificial intelligence seizing their jobs. |
If the National Retail Federation gazes into clear crystal, this holiday season will expand these woeful figures. |
For millions and millions… the figures already sketch a dismal portrait of life upon the hamster wheel, of an accelerated going-nowhere, of frantic and frenetic stagnation. |
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The President's Financial Disclosures Revealed A Gold Secret on Page 57. I'm Sharing It Until December 10th
| My rich dad always said, "The rich leave clues." The biggest clue is on page 57 of the President's financial disclosures. It's how patriotic Americans are profiting from the gold boom without buying gold, and making up to $52,000 a year. After December 10th, this secret will be worthless. The time to act is now. | |
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Oh, But It's Really Good News! |
Government torturers of economic data — that is, government statisticians — observe the identical data. |
Yet they draw an altogether parallel sketch of the economic scene. |
Theirs depicts expanding prosperity in every direction, abundance, contentment — and a blissful expansion of the gross national product. |
Yet their economic portrait often confuses activity for action, motion for direction, choice for necessity. |
Assume a fellow takes on additional employment because his primary employment will not see him through. |
"The unemployment rate has dropped!," gushes the government statistician. |
"His income and purchasing power have increased!," exults the same government statistician. |
"GDP will increase!," he jubilates. |
Is it consolation to the human donkey who must toil 18 hours the day merely to remain upright? |
I hazard it is very little consolation. |
Is this economic progress? |
Next Year's Purchase This Year |
Meantime, assume this sore beset fellow purchases product x this year because he fears inflation will box him out next year. |
The government statistician will celebrate this purchase as proof of his administration's economic wisdom. |
Yet is it actual proof of economic wisdom? |
Or has the purchaser merely made next year's purchase this year's purchase? |
Here is the answer: The purchaser has merely made next year's purchase this year's purchase. |
It will go into this year's records, it is true. Yet it will vanish from next year's records. |
Where is the overall gain? It is nowhere. |
What have you actually witnessed? |
What you have witnessed is a sort of shell game. |
Next year's purchase was simply yanked forward to this year — in service of short-term economic calculation politicians like to cite. |
"Yet GDP is up,!" they can say. |
Here is my greater concern: |
As statistics has enthroned itself atop all economic calculation, it has lost sight of the actual economy. |
It believes the shadow is the thing. |
Destruction Is as Good as Production |
As a certain Anthony Deden, scribbling for the Forum Geopolitica writes: |
Numbers replaced judgment, and the gross domestic product became the supreme idol of economic life. Conceived in the 1930s to estimate wartime output and industrial capacity, GDP was never meant to represent human welfare or civilizational advancement… |
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Yet over time, this emergency metric came to define progress itself. GDP measures the speed of activity, not the value or purpose of what is done. It tallies every transaction as growth, whether it builds a bridge or bombs one, whether it cultivates soil or strips it bare. |
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The cutting of a forest, the repair of its flood damage, and the lawsuits that follow each adds to the total. Destruction and recovery register as twin booms. As stupid as it sounds, in this arithmetic, a society may spend itself into apparent wealth… |
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This illusion deepens because GDP cannot distinguish between creation and consumption, between genuine capital formation and the liquidation of the past. It registers motion, not meaning. |
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When a company borrows to buy back its shares, GDP rises. When financial speculation multiplies without adding a single good or service, GDP rises again. In this way, the volume of transactions is mistaken for the creation of wealth. |
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Alas, in many instances it is an actual engine of wealth destruction. |
An Illusion Sustained by Easy Money |
Let us not neglect the role of fiat money in the great manipulation: |
Under easy credit, GDP swells not through productive depth but through monetary distortion, mistaking inflation and malinvestment for prosperity… |
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To raise GDP is easy: borrow, spend, inflate, and count. But what such policies expand in figures, they often destroy in substance. Bridges decay, real wages stagnate, and the living fabric of society is consumed to sustain the illusion of growth… |
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Where progress once measured improvement in the quality of life and institutions, it now measures only quantity and velocity. It is only an illusion sustained by policy and finance. |
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In conclusion: |
Under these false measures, even decline appears as progress. Disasters, bailouts, and wars can all lift the totals. A nation that borrows and spends beyond its means looks more "dynamic" than one that saves and repairs. |
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The more financialized an economy becomes, the larger its reported growth — because it counts turnover and speculation as production itself. |
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Thus a tool once devised for administration has become a mask for deterioration. GDP cannot tell us whether we are advancing or merely accelerating toward exhaustion. |
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The Master Must Become the Servant |
I believe this Deden fellow strikes bullseye, or very nearly. |
Thus it is time to invert the master/servant relationship that presently obtains between statistics and economics. |
That is, we must demote statistics from master of economics to servant of economics. |
Only then can we view economic conditions in their true aspect — for good — or for ill. |
Even if for ill, I believe it better to be informed than misinformed. |
The United States government… like all governments… prefers it otherwise. |
After all: What government on Earth truly seeks informed citizens? |
That government would truly be the first of its type — and likely the last of its type. |
Regards, |
Brian Maher |
for Freedom Financial News |
P.S. Let me be blunt: If you own a home, you are a sitting duck. If you don't own a home, you're a victim of the biggest housing scam in history. Either way, you need to watch this video NOW. It's not a suggestion. It's a financial imperative. Click here to stop being a victim and start preparing for the 50% crash. |
P.P.S. The institutional landlords are already selling. They see the red on the Excel sheet and they are dumping inventory. When the biggest players panic, the smart money buys. This video is your playbook for buying assets at a massive discount. Don't be the sucker who waits for the bottom—get the free Smart Guide now. |
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