I still think the vast majority are in denial. There really does appear to be an engrained mindset that “it can’t happen here.” That no matter what, “the people in power are really smart and know these things so much better than I do so I am not worried about any sort of crisis developing.” “They can fix it.”
The problem is we have an entire generation that has no clue what “The Great Depression” was like, much less even know about it due to the pitiful amount and quality of the history classes taught today.
Most folks think that the Weimar Republic is a diner that serves hot dogs or weenies.
Heaven help us when they wake up and realize what is happening.
By the way, did you read about some of the small towns out that due to budget constraints told their citizens they will no longer be responding to burglary calls?
This is the sort of thing that concerns me where all this is headed.
Cutbacks force police to curtail calls for some crimes
By Kevin Johnson, USA TODAY
Budget cuts are forcing police around the country to stop responding to fraud, burglary and theft calls as officers focus limited resources on violent crime.
Cutbacks in such places as Oakland, Tulsa and Norton, Mass. have forced police to tell residents to file their own reports — online or in writing — for break-ins and other lesser crimes.
"If you come home to find your house burglarized and you call, we’re not coming," said Oakland Police spokeswoman Holly Joshi. The city laid off 80 officers from its force of 687 last month and the department can’t respond to burglary, vandalism, and identity theft. "It’s amazing. It’s a big change for us."
Gold Stocks Trend Energy Increasing
REV(E) has breached its June high despite a lower price. This suggests that trend energy is increasing and retest of the June price high.
Greenspan when Chairman confirmed MOPE (Management of Perspective Economic) as the present school of economic thought and application. Now Bernanke is making the same confirmation.
There comes a time when smoke and mirrors fall flat on their ass. This is the time as we are headed to a double dip with the double being the dip of a lifetime.
The result will without any doubt be "Currency Induced Cost Push Inflation." The problem is that so very few have a clue what that is, yet the fate of nations hangs on the correct understanding.
Bernanke’s top tool now may be power of persuasion
The power of persuasion – spin, MOPE, propaganda, etc has been a critical tool since humans learned to talk within the context of centralized control. The fact that the media has chosen to recognize it at this point in the cycle reflects the growing fragility of the economic backdrop.
That’s the test facing Fed Chairman Ben Bernanke as he addresses a conference Friday in Jackson Hole, Wyo. Without any easy options left, Bernanke must try to prevent another recession by persuading people and businesses to feel confident enough about the future to spend more today.
Recession risk or the bottom will drop out? You are being too gentlemanly.
U.S. Economy: Durables, Housing Signal Recession Risk
Both CPI and gold-adjusted business core spend (new orders of durable goods ex. defense and aircraft) time series are rolling over. Gold adjusted business core spending, a better reflection real of business activity, has not recorded positive year-over-year growth since 2007. This throws cold water on the heavily MOPE’d economic recovery of 2009-2010.
Orders for durable goods in the U.S. increased less than forecast in July and sales of new homes unexpectedly dropped, increasing the risk of a renewed recession in the world’s largest economy.
Bookings for goods made to last at least three years rose 0.3 percent, figures from the Commerce Department showed today in Washington. Excluding transportation equipment, demand fell by the most in more than a year. Purchases of new dwellings fell 12 percent to an annual pace of 276,000, the weakest since data began in 1963, figures from the same agency showed.