Loading ...We are told that the economy has been recovering for five years now, and that stock prices have merely risen to reflect this reality. But if this is so, why do we not see any evidence of this recovery in our towns, our cities, our counties? Why are measures like ZIRP, treasury purchases by the Fed, and QE that were introduced as temporary and extraordinary measures all still in place after six years of “recovery”? Why does even a hint of withdrawing these so-called temporary measures, so aggressive that they were literally unprecedented, cause spasms across markets? If all is humming along, why is the Labor Force Participation rate at a 40 year low with 99 million working age Americans not in the workforce? Why do market commentators crowing about the performance of the stock market never mention that they have been driven primarily, for more than a year now, by all-time high stock buybacks financed on cheap credit with artificially low interest rates? Isn’t this a classic Enron-style accounting trick? Can’t people see where it leads?
http://www.tfmetalsreport.com/blog/7014/ounces-truth-shares-illusion