Wednesday, May 5, 2010

Blowing Smoke (up your backside.)

Greetings good citizen,

Today’s markets are still ‘in decline’ but they’re not as bad as they were yesterday (again, for no discernable reason.) Perhaps even more ‘incredible’ is yesterday’s claim that the sell-off was due to the now resolved Greek/Euro ‘debt crisis’.

Or did rioting that killed three in Athens prompt the sell-off? While our European cousins have a tradition of being ‘more demonstrative’ than our laid back selves, you don’t suppose yesterday’s, er, ‘protests’ are just a sample of what’s to come?

Anyway, far more disturbing is how the ‘debt crisis’ is being dealt with in the MSM. Our media has reported across the board cuts in government benefits and services in Greece in exchange for a ‘bailout’, while, the ‘private sector’ in Greece, like it is here, is unable (or unwilling) to ‘pick up the slack’…

What is the ‘cause’ of the Greek Debt crisis? It seems Greece’s
‘private sector’
hasn’t been paying its ‘fair share’…

A crisis we are faced with as well, here in the US. There IS such a thing as being TOO ‘business friendly’…

Onward with tonight’s offering

Sad Outlier

The new purchasing managers figures around the world show a surging manufacturing economy almost everywhere. [This is one of those vague statements that isn’t nearly as ‘inclusive’ as it sounds. Worse (and not addressed here) is ‘why’ this is the case; where we ask, once again, ‘what the fuck is wrong with reporters these days?’]

In the United States, the latest figure is over 60 — something not seen since 2004. Any figure over 50 means that more manufacturers are reporting that business is getting better than are reporting that it is getting worse. [Don’t be ‘put to sleep’ here good citizen, it is true that local shops have been advertising for help lately BUT they are searching for ‘hen’s teeth’, experienced people are extremely rare!]

A similar survey is taken each month in 21 countries. Each of those — save one — produced a positive report in April, according to a compilation by Markit. [Look at that statement again…there are what, roughly 190 counties and they only produce reports from 21 of them? And what is Greece ‘noted for’? Olives and shipping…so why does anyone even bother to measure/track Greek manufacturing? It’s a ‘mystery’ but you’re supposed to be asleep, placed there by the falsely encouraging US numbers…]

The exception is Greece, where the number is 43.6.

The most predictive part of the survey is new orders. If they are growing, then it is reasonable to think business will keep improving. There the boom is even more pronounced, with growth everywhere save Greece, where the figure is 40.8. [Um, geez Louise, why do you think people might be a little ‘hesitant’ to place orders with Greek manufacturers (when there are so many other/’cheaper’ alternatives?)]

The new bailout of Greece will do nothing for Greek industry. It will not make it more competitive internationally. It will slash domestic demand as austerity clicks in. [This is ‘economics 101’ and it describes perfectly the, er, ‘dilemma’ faced by all ‘industrialized’ nations…if quality is ‘assumed’ then the only thing you have to offer is price, where the playing field is anything but ‘level’. Did I mention capitalism only works for capitalists? (It SUCKS for everybody else!)]

Greece desperately needs something it cannot have — a currency devaluation. The new manufacturing surveys simply emphasize how great that need is.

What’s that I smell? Could it be flowers? You should be enjoying the scent of flowers too good citizen as Mr. Norris has been walking us down the ‘garden path’, whispering sweet lies into our ears.

Is Mr. Norris stupid or does he just think (hope) you are?

Must be tough being a reporter and having to choose every day between insulting the intelligence of your readers and continuing to draw a paycheck…but that’s how the game is played.

It must be getting tiring by now as I continue to ask you the same question, over and over…‘if they’ll lie about this, what else are they lying about?’

You may not want to hear it but some of my ‘wildass speculation’ is probably a lot closer to the mark than any of you suspect…and THAT should scare the piss out of you!

Thanks for letting me inside your head,


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