Global Economy On Rebound: U.S. The Losers

In today's online editions of several mainstream news organizations and internet news sources, the top story was that economists are stating that the final quarter figures for 2009 shows that the economy is getting stronger, and that it does appear it is on the rebound.

And are predicting an even greater and brigher future for 2010.

Apparently, "accuracy in news" hasn't reached the AP yet, since the only economy which it appears is growing is on Wall Street, not Main Street America. In fact, there still is one foreclosure every 13 seconds still occurring, and the jobless rate has worsened with many more laid off or underemployed Americans.

The U.S. Department of Labor figures, remember, only count those that are collecting unemployment. Not those whose benefits have run out, the self-employed, or those now that are underemployed and waiting tables or behind retail counters after their jobs were outsourced under some of those great government bailouts.

And it appears all those vacant homes in the West and Southwest are being made ready for the Canadian retirees, possible "new" Americans due to another amnesty bill that is waiting in the wings, and 26,000 Iraqi refugees which will be resettled in this country. Of course, after clearly invading it rather unlawfully to begin with.

So the Wall Street financiers and banks can collect all those junk fees once again on those "new" loans and the fine print that many of these foreign immigrants won't be able to read.

Isn't "globalism" great, America? You homes and jobs are being outsourced and insourced in order that the global, mostly New York based economists can put a star next to their economic indicators.

Of course, the caveat is that this rebound will only continue so long as Americans continue to go into debt and spend. Sort of like Washington. Encouraging Americans to become indebted to the bankers, is like our debt now to China while still writing checks to every other foreign government that comes down the pike.

And interesting this "forecast" would come the month of Christmas, when of course spending is up due to the holiday itself - and Americans do have a hard time explaining to their kids that Santa just won't be able to make it this year, especially when they have that piece of plastic at 13-21% interest that just came in the mail as the bankers "stimulus."

The link:

http://enews.earthlink.net/article/top?guid=20091222/1ec14c40-fb65-459f-9524-ac6fca50d9b9