Can you trust the authorities with the data you are presented on a monthly basis? There have been a lot of porky pies in the public arena. We need look little further than the woeful governance lapses at the UNIPCC with falsified and concocted climate data.I recommend people read “The delinquent teenager” which highlights the total farce the IPCC is in terms of promoting gender and race equality above ability and qualification in the lead author groups. It is politics, not science.
Even the National Oceanic & Atmospheric Administration (NOAA) was eventually subpoenaed by Congress to cough up emails related to claims it had fiddled the data again. NOAA had refused several polite requests over the issue. If there was nothing to hide why would they need to act in this way, especially as they have a legal responsibility to comply with Congress? Was the Obama administration trying to push a climate agenda? It is believable if his Department of Justice has just been ordered to take 5 years of ethic training after the discovery they had “intentionally misled” 26 state and federal courts on immigration.
Why did Greenspan stop the reporting of M3 data at the Federal Reserve in 2006? It can’t be treated as anything but suspicious and the projections of the M3 data based on the final 6 years of growth rates shows the money supply explode from $10 trillion in 2006 to over $25 trillion today and possibly heading to $40 trillion in the next 5 years.
Therefore as logic would have it, is the economic data you see really telling the truth or is it fudged? Regardless of whether fudging is going or not the real outcomes on the ground can’t be messed with. 47% of Americans can’t raise $400 in emergency cash such they are living paycheck to paycheck. 25% of Europeans are classified below the poverty line.
The funny thing is that global interest rates are at rock bottom. In Japan they’re negative but even with this it misses one very important point. Businesses invest because they see a cycle not because interest rates are low. For the free money that is being handed out the US Markit PMI doesn’t look so robust. It is the lowest figure since September of 2009 as output fell for the first time in more than 6.5years
Markit also showed Eurozone manufacturing activity hit a 3-mth low. The Chief Economist of Markit wrote, “New orders grew at the slowest rate for over a year as demand showed signs of waning both within the euro area and further afield. Not surprisingly, companies remain reluctant to build capacity and take on extra workers, lacking signs of any imminent upturn in demand…France and Greece remain the key areas of concern, both seeing manufacturing contracting again in May. Worryingly, however, growth has also slowed sharply in previously fast-growing countries such as Spain, Italy and Ireland, meaning there are now no signs of robust manufacturing growth evident across the region…The overall slowing of manufacturing activity confounds expectations that recoveries will accelerate on the back of the ECB stimulus announced earlier in the year. Hopes remain pinned on forthcoming corporate bond purchases and new tranches of ultra-cheap bank loans from the ECB providing an extra boost in coming months.” Ireland hit a 34 month low followed by Spain at a 7-mth low.
Central banks are no longer in control.