The market staged an impressive rally this year, but it was predicated on some very big lies, as opposed to solid fundamentals or the beginnings of a real recovery in the U.S. economy.
The biggest lie investors were fed? That, statistically, the recession "officially" ended in Q3 when we saw 3.5% GDP growth. Sure the Bureau of Economic Analysis revised their number substantially in November, saying we only saw 2.8% growth, but this was growth nonetheless ... according to the statistics.
In the face of Depression-level unemployment, a worsening housing market and weak consumer spending, statistics don't mean much. What, you heard that unemployment bottomed at 10%, the housing market was recovering and consumer spending was picking up again? More lies.
The recession is not over, and once you know the other Wall Street lies, it should be clear that you should expect nothing more than a flat recovery in the second half of next year. And that's the best-case scenario. It's very likely we may, in fact, see a double-dip recession.
It seems that Wall Street has yet to catch on to this fact. But when that happens, look out. Chances are that when they sit up and take notice, they will head for the exits (or a place to cash their bonus checks before they bounce). Don't get left in the wake -- take note of these lies and, more importantly, how you can profit from them once the wool has been removed from your eyes.
Click on each lie to learn more.
Lie #1: The Stress Tests Provided Transparency in the Banks
Lie #2: New Accounting Rules Show Banks Are All Right
Lie #3: The Recession Has Officially Ended
Lie #4: Unemployment Will Bottom Around 10%
Lie #5: The Housing Market Is Recovering
Lie #6: The Credit Crunch Is Easing
Lie #7: Consumer Spending Is Returning to Normal
Lie #8: The Fed Only Buys AAA-Rated Bonds and Securities
Lie #9: The U.S. Dollar Is Dead
Lie #10: China Experienced Double-Digit Growth in 2009
Lie #11: The Palm Pre Is the Ultimate iPhone Killer



Reader Comments (Page 1 of 1)
12-26-2009 @ 9:33PM
servicemasterwv said...
what sabout all the other lies also ?????? list them to we have time to read them all
12-26-2009 @ 6:19PM
Tom said...
The biggest lies come from speculators. I mean really!
12-26-2009 @ 10:39PM
sunnyb said...
CNBC are the Wall Street shills that perpetuate this BS. Big media right in the corrupt mix.
12-27-2009 @ 6:26AM
Martin said...
I think Michael Shulman is spot on. We are in for some really tough times.....and if the government tries to "spend its way" out of it....it will get worse...with incredible inflation which will destroy most peoples assets. Best thing to do is: If you have a job...hang on to it and do you best. Keep your debt down - better yet eliminate it. As protect your assets.
12-27-2009 @ 8:32AM
Rock Fossil said...
The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the REVOLUTION."
-Benjamin Franklin
founding father of the United States of America
The primary cause of revolt against the mother country, was England's disastrous and ruinous financial policy, which was imposed onto the American people, by the Bank of England, a Rothschild bastion.
The Federal Reserve is also a subsidiary of the Rothschilds, as it is 53% Rothschild-owned.
It was Thomas Jefferson who declared in 1812, the wish that the influence of these bankers would be nullified, when he stated: "I hope we shall crush in its birth the aristocracy of our moneyed corporations, which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country."
Andrew Jackson later said:"If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations."
Today, we are under the same threat our Founding Fathers faced, for we have fallen under the regime of the central bankers, and their central bank--the Federal Reserve. We are forced to use their interest-bearing scrip, rather than our own interest-free currency, backed by the good faith--and gold--of the United States government.
This pattern of financial enslavement, ensures everlasting bondage to the central bank, as the public loses purchasing power, with the ultimate result being corporate consolidation over a free people. In short; it has taken two centuries to achieve, but the central bankers have finally consolidated their hold over the destiny of the United States of America.
Our government is in virtual paralysis, as we live under the new Dark Ages of national decline and eclipse. Soon the elites assure us; we will be subject to global institutions, and the dissolution of our country into a regional economic system. That New World Order, will replace our money with their own scrip--the Amero.
It was always the plan of the Rothschild Bank of England, to destroy the United States of America, and this plan was put into print in the year 1865, when the Rothschild-owned media stated in reference to President Lincoln's printing of greenbacks to finance the Civil War:
"If this mischievous financial policy, which has its origin in North America,
shall become endurated down to a fixture, then that government will *********** own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." - Hazard Circular - London Times 1865
Now these selfsame bankers and their underlings inform us that the nation-state is dead, and that we must go quietly into the so-called "New World Order."
There is only one cure for America's ultimate financial collapse and that is for Congress to exercise Clause 30 of the "Federal" Reserve Act, buy the outstanding shares of stock, shut down this unconstitutional system and sell off their assets to reimburse the people of this nation for this outright theft of their wealth down through our history.
The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War.” - Benjamin Franklin
Now the American people find themselves once again at a crossroads of war and revolution, whereby we are witness to the truth that our country is held in bondage to the Federal Reserve, and the moneyed elite. These central bankers are making big plans-- behind closed doors-- to dissolve the United States of America, to create the North American Union, thereby accomplishing their master plan for world domination by a ruling, moneyed elite.
They are the ones who have enabled the mass invasion by the Third World, of industrialized nations in both hemispheres of the planet, through the so-called "guest worker." They are the ones who manipulate the puppet strings of our lawmakers, and they are the ones who flood our nation with endless waves of "immigrant" Mexican invaders.
The time of their rule is coming to an end for the American people are rising up, to take back our nation from this ruling elite, which holds the American people in bondage by usury.
The American people are no longer distracted by "nation-building" in Iraq, for we are in truth, overrun here at home by the Mexican occupation army, and the hostile corporate takeover of our government.
We see the partition of our nation through the NAFTA Superhighway, and plans for a merger with our northern and southern neighbors.
Our government has been occupied by the central bank, ever since the day the Federal Reserve System ordered President Franklin D. Roosevelt on April 5, 1933, to issue Presidential Order 6102, which required all Americans to deliver all gold coins, gold bullion, and gold certificates to their local Federal Reserve Bank on or before April 28, 1933.
Up until this time; gold had remained fairly stable in value for the previous 100 years, increasing only from $18.93 an ounce to $20.69 and ounce.
The penalties for violating this order were a $10,000.00 fine and a ten year prison sentence. This gold was then offered by the Fed owners to any foreign, non-U.S. citizen, at $35.00 per ounce.
All loans to the Fed were paid in real money, backed by gold. Our government became insolvent, and could no longer retire its debt. This necessitated a bankruptcy filing under chapter 11.
Under the Emergency Banking Act of March 9, 1933; President Franklin Roosevelt dissolved the United States Federal Government, by declaring that entity bankrupt.
Congress enacted HJR 192, on June 5, 1933, which made all debts, public or private, no longer collectable in gold. All debts public or private were to be mad payable in Fed-created fiat currency, manufactured out of thin air. This new currency of the central bankers, would now be legal tender in the U.S. for all debts public and private.
Since this infamy was accomplished, every U.S. citizen has become an asset of the central bankers, expected to pay the future debt of usury by taxation, without representation.
Thus, every American citizen is in bondage from birth, and for all practical purposes the chattel for life, of the creditors who own the Federal Reserve.
Since the devaluation of our money supply, the United States Constitution has been continuously eroded, due to the fact that our nation is now owned "lock, stock and barrel," by a private corporation of international bankers, known as the "Federal Reserve."
12-27-2009 @ 9:54AM
burks41 said...
Wall street is nothing more than a bunch of lying scumbags. they will tell you anything to get in your pockets. Dont believe anything they tell you.
12-27-2009 @ 9:52AM
danzillo4 said...
Again we are being robbed, Timothy Geithner is giving taxpayers money to Freddy and Fanny to the tune of 111 BILLION...Isnt it a fact they are corrupt, incompetant, so why would we keep on funding Barney Frank and Chris Dodds failures...WHY!
12-27-2009 @ 11:33AM
pd39 said...
this is a very good article.
Now how about one entitled 'How the media lied about obama, how the media distorts the news, how the media killed off 900,000 tea protesters by reporting that there were only "about 60,000 to 70,000" in attendence when police and fire responders reported "the biggest crowds I've seen here in 16 years," how the media lied about Bush in an effort to destroy him, and how the media built a demigod out of a blank chalk board to get obama elected?
12-27-2009 @ 12:34PM
Lord Enki said...
Has anyone seen the reports on the Christmas sales or was it so dismal that Wall Street don't want us to known what a blood bath they took this year.
12-27-2009 @ 12:43PM
mastersixkiller said...
Rock Fossil pointed out in his blog who is controlling Geitnher
hint they control 53%
12-27-2009 @ 12:52PM
Lord Enki said...
Just look at it in this light these guys are doing a superb job none of us could do a better job than these guys their doing such a great job of showing everyone just how corrupt this whole system really is and just who they are working for. So sit back grab a drink with or with out Alcohol and enjoy the show they are their own worst enemies and the nice thing about all this is we don't have to do anything they are doing it to themselves..
12-27-2009 @ 1:35PM
lmc3959 said...
The article fails to mention the number one lie of 2009, which is the healthcare reform scam. What Washington and Wallstreet are really hiding is the fact that the insurance giants are BROKE. Therefore, to maintain their fat-cat lifestyles they, along with congress impose tariffs, fines and penalties to perpetrate the lies of Reform. And as pd39 states the media is the major Perpetrator of these scams, lies, crooks and cheats.
12-27-2009 @ 5:38PM
Kevin Currie said...
Wall Street & the Banking Industry is 'Socialism' for the Rich! e.g., It's good for them to control the status & flow of this economy - but its not good for the multitude - who gets stuck w/ the bill (and the pain) in the end.
These so-called 'bankers & brokers' grabbed hold of the political system in this country years ago (Bush / Reagan) - deregulated an industry that should always be regulated ($$). Manipulated an entire 'way of life' in America (New Deal), then blew smoke up everyone's ass & literally stole from people like you & me beyond comprehension. In sum: They took the cops off the street & now look at what you have (uneven playing fields favoring the rich - with a mile wide & an inch thick terrain for millions).
We now have an administration in DC that wants to help ... instead of the 'hooray for me and to hell with everyone else policies' ... we have Preet Bharaha (SDNY) on the block who should treat Wall Street the way Wall Street treated us.
The same way they rid this country from the mob is the way they should go after these people on Wall Street ... create a 'rats den' and watch those theiving, theives sweat. Insider trading arrests are the tip of the iceburg ... There's alot of fish to fry in that part of the woods - and everyone knows it.
When it comes to money - People are funny! And now were funny too! Get em -- Before they get you --- Again! Enjoy!
12-27-2009 @ 6:42PM
cathy said...
This economy of ours is in the tank and we have nobody to blame for most of this than the Republican Party giving all these corporations free reign in importing all these millions upon millions of H1B Visa workers into this country displacing all our own
Skilled technology workers. F—n Silicon Valley has so many of the B---- one would think today they’d landed by mistake in Bombay. When is America going to wake the
Hell up as to what is going on? While everyone is pissed off about Obama Care, Why not address the reason for needing it the first place?
12-27-2009 @ 7:07PM
Cathy said...
There’s another type of "Speculator" out here, and these are not getting much of any attention at all...These are the property/ real estate investors/speculators out buying up tract after tract of low income properties just so they can build more and more of these massive apartment complexes. Then the companies that are hiring them give them “FREE” transportation cards issued to them to ride most of our bus and rail systems.
So all these H1B Visa workers get a free ride while the out of work American has to pay for his. Everywhere Bart, Cal Train, VTA goes…this is where all this is happening out in Silicon Valley. These property speculators are just as ruthless as what some of those Wally*Mart people did in acquiring lands needed to build their massive stores.
Some land owners over in East Palo Alto, CA are fighting mad their getting the squeeze put on them. Nobody is talking much about this hot topic.