www.bloomberg.com/apps/news?pid=20601103...amp;sid=aNaqecavD9ek
More bad news about a deeper recession than anticipated from the USA just out today.
But at the moment we have a concerted effort by the MEDIA to BURY BAD NEWS as follows.
1. Green Shoots headlines. Loads of papers who are Brownite are carrying these headlines - often not supported by the text of the articles.
2. Confidence Surveys being used rather than Hard Statistics over 3 - 6 months - as indicators by the media of the economic position of the UK. This happened before the CRUNCH and was why it came as a suprise to many people.
3. BURYING BAD NEWS under two stories a) Lockerbie Killer let out ( for both USA and UK ) as a diversion. and b) Swine Flu Second Wave Predictions ( In the autumn - not now a story due to it disappearing ) without any basis in fact.
Add to that New Labour trying to win next year's election by pretending everything is fine and you have a weird twilight world where :
a) House prices are continuing to fall in most areas and volume is at all time lows in sales.
b) Unemployment is at its highest since the 30s ( Around 6 million ) with many poor areas with over 50% unemployment creating ghettos of drugs and drink and violence.
c) High Streets are decimated and full of £1 shops or Charity shops or Displays. Most have 20% to 50% empty shops.
d) Companies like BT have stopped recruiting for the future such is the depth of problem.
e) Poor public sector workers ( not the rich ones ) are being asked to take pay cuts ( £5,000 Refuse Collectors )
f) Banks are not lending to small business. Many are going to the wall. The Autumn will see a huge surge in this.
g) Restaurants closing at fastest rate ever - 300+ in the first 6 months of this year. Most are now heavily discounting to stay open. Many more will fail.
h) BT not recruiting any graduates anymore. No future. 15,000 to be laid off this year.
i ) Outside of those who have "made" money in this recession - the Bankers - Administrators - quangos. Most people have cut their spending because of higher utility and fuel bils and food costs.
This whole thing is a SQUEEZE or CRUNCH - where the RICH are trying to squeeze the last drops of money out of the POOR and LOWER MIDDLE CLASSES. Where TAX is going from the POOR to subsidise the BONUSES of the RICH BANKERS......
I said last year that BROWN was a reverse ROBIN HOOD. He is a ROBBING HOOD - "He takes from the poor and gives to the rich" which he showed with his abolition of the 10% tax rate.
So why the MEDIA plays out its fantasy stories about a fake anger about Lockerbie ( as we said on here - done deal and not important ) and a FLU pandemic which seems to have effected few people and which is just a cold as far as everyone says......the ECONOMY is burning - heading for total crash.
It will unwind - it is just a matter of when. Perhaps it will be next year or even this October like last year....but it is unsustainable. The MEDIA cant change the facts - everyone knows that the economy has followed society in being broken.
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