Where you stand determines what you see.

I know there's a lot of interesting news today -- but -- do not forget to go to "Some Assembly Required" -- eventually the fact we (the vast majority of the American people) have been abandoned by our current GOVERNMENTS (federal, state, etc.) will become clear.

If you are not at least "semi-rich", you seem not to exist.
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Where you stand determines what you see.

Basics: How did it go so wrong? It had a lot of help from people who continue to make a lot of money off the trouble they started.

Swimming Hole: A new survey shows that US housing just had its worst quarter since 2008, with 75% of US houses losing value y/y and 28.4% of mortgaged houses underwater – a new record. Two million houses are in the foreclosure process and another 1.5 million seriously delinquent ones will soon join them in driving the price of houses ever further downward. Prices have now fallen for 57 consecutive months.

Wonderland: In the strange world of American economics, the fact tht more people are going further in debt is see “evidence” of greater willingness of consumers to borrow as “evidence” of economic improvement. Think on that a while.

Takeaway: The U.S. college education system as the largest scam in U.S. history. It is all about debt and educates mostly through the school of hard knocks.

Trojan Horse: The EU has decided that another bailout is the answer for the failed Greek bailout. It will not succeed - austerity does not work and the Greek debt burden is unsustainable. Meanwhile Ireland cheerfully admits it is broke and cannot (and thus will not) pay off its debts. And Portugal and Spain are watching, closely, what accommodations the EU/IMF and banks make.
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Isn't the "recovery" just going along swimmingly? -- anyway, just follow link to original