The global economy is going down the tubes, but nobody is supposed to notice. From Matthew Piepenberg at goldswitzerland.com:
Desperation and distraction are masquerading as economic policy. Below we see how and why—and at what cost.
COVID: The Great Economic and Political Hall-Pass
If every time I stole a cookie from the jar in front of my mom (age 8), or drove dad’s car (sometimes into a tree) without permission (age 16), failed a dorm-room inspection (age 17), broke a lawnmower for driving over a fence post (each year) or forgot a key anniversary (eh-hmm), it would have been so convenient to have a universal “hall pass” to excuse what is/was otherwise just plain stupid behavior.
Luckily for the grown children running our global financial system into the ground, the COVID pandemic is becoming precisely that: “A global hall pass for excusing decades of stupid.”
As we’ve written many times, inexcusably high debt levels, tanking growth data, struggling work force figures, embarrassing wealth disparity and insider market rigging between Wall Street and DC was well in play long before COVID made the headlines.
But now, the architects of such “pre-COVID stupid” have the current COVID narrative to justify and excuse even, well… more stupid.
The Latest Jobs Report “Explained” …
Take, for example, the latest job reports data from those DC-based creative writers at that comic-book publication otherwise known as the Bureau of Labor Statistics (BLS).
Known for years on Wall Street as mathematical magicians capable of turning 12% inflation into a 2% CPI lie, that same BLS is operating yet again to fib away the latest (and otherwise telling) jobs data.
The September jobs report was the second consecutive and disappointing report from the BLS, which they were quick to blame on “pandemic-related staffing fluctuations.”
Hmmm. That’s a nice phrase, no? “Pandemic-related staffing fluctuations.”
But the real description boils down to something more PRAVDA-like under the new Biden Vaccine Mandate, namely: “Obey or we take your job away.”
Needless to say, not everyone is obeying.