It seems to us that economists must be spending more and more time consulting with mass psychologists in the hopes of coming up with a new catchword for getting the US public to put on their rose colored glasses in relation to the economy. They are hardly succeeding. According to Jack Rasmus, the Federal Reserve is warning of increasing numbers of firms claiming insolvency and then declaring bankruptcy. Unemployment statistics continue to average one million per week in addition to the usual financial bubbles created by the Fed’s free money policy. You can’t make a silk purse out of a sow’s ear.
Listen to Jack Rasmus
