While the mainstream financial media in the United States pumps up how the U.S economy is doing so well (which is not) and blame the European economy for the instability in the markets, China has been busy trying to manage a soft landing.
In all likelihood, it looks like China’s economy is more stable…at least the growth there is higher than both the U.S and Europe, plus its government is net positive in debt. Unlike China, America is still experiencing high unemployment, most people do not believe the recently fudged employment numbers and as well the United States government is still in huge debt, now the federal debt is approaching 15.5 Trillion. Also add to that the fact that municipal governments are going bankrupt and cannot even afford to upgrade infrastructure (you don’t hear this in the news).
So while the mainstream media lies to your face to drum up fabricated good news to get Obama re-elected the house of card economy is really falling apart under the covers. We will see how all this pans out after the election in November 2012 and as we head into 2013, my guess is that the hangover is going to come.
by Das Brain
Source: http://www.cnbc.com/id/46714688
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