February 14, 2012
Earlier in February, President Barack Obama came to the podium to announce that “The economy is growing stronger…the recovery is speeding up. We’ve got to do everything in our power to keep it going.” Yesterday we profiled the recent jobless rate in a blog titled Election Year Employment Deception—a clear and present sign that administration has touted a false increase in employment—and thus, a false picture of an improving economy. Combine this with the proclamation from every official source that we are in a recovery, and not a depression, as described by WealthCycles here, using both Kondratiev long wave and confirmed below, using simple current fact.
There is no better term than depression when accurately describing the plummeting employment and the economic contraction in developed economies. Bloomberg:
German factory orders recently suffered their worst three months outside of the 2008 crash itself, falling at a 28% annualized rate. European December Industrial Output declined by 1.1% led by Germany’s 2.7% drop, compared to November’s 0.3% decline.
Another measure of economic expansion or contraction is global shipping. So far this year the Baltic Dry Index has fallen 42% more than its seasonal normal.Below is the current data:
Thanks to BrotherJohnF