Last Friday I couldn’t avoid reading some material on Bloomberg and came across this piece titled “Recession worse than prior estimates, revisions show” which starts with the words:
The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.
The world’s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said today in Washington.
Needless to say, if you followed the mainstream media back around the beginning of 2008 you couldn’t avoid hearing lots of US recession denial from various pundits and government authorities. In fact many of them said that there was nothing fundamentally wrong in the US economy (TODO: give examples). But if you followed my blog you straightforwardly heard that the US was in apparent recession at least in March 2008. Later I naturally mentioned the authorities are cooking up the numbers which has basically been confirmed now and predicted last Fall that the economic turmoil will lead to the third world war (if the resistance movement fails) in about a decade as the situation will develop along a path previously marched in the thirties (I’m yet to be proven correct with this one). I even predicted the date of the initial nuclear exchange (if you don’t buy it, I also have other dates).
Now how can I, a know-nothing living in Turkey who only reads a few blogs and websites, have a more accurate understanding of the situation in the US than the supposed experts who have many times more resources than I have at their disposal and who are at the scene themselves? Well, I’d of course like to think it helps if you largely subscribe to the Austrian school of thought and are substantially better than the average person, even many highly paid ‘pundits’, in mathematical/logical thinking, but yeah the obvious answer is that more likely most, though maybe not the most moronic cheerleaders, of them knew the recession was real and so forth but of course lied to the public with straight faces as they were paid to do so.
If the resistance movement succeeds, the liars will pay a high price along with their masters. There can be no justice if they are not forced to pay.