The next shoe to drop is commercial real estate. The stock market is 9 times more overvalued than the historic average for the past 135 years. S&P 500 adjusted earnings are lower then they were in the last great depression. The economy is not recovering despite the chorus of Kum-Bay-Yah being sung by the Wall Street types with the sweaty hands. People in the media are Democrats. During the Bush administration everything was bad, now that they have their man in the White House; they are simply lying about the economy. Lexus Nexus contains over 350 major news outlets touting the “great” jobs report. They are telling us about how the depression has turned the corner.

        The media is crowing about an economy that lost 467,000 jobs in Jun, and "only" lost 247,000 jobs in July. The unemployment report fell from 9.5 to 9.4; great news right? Wrong, they didn’t tell you that the decline was because unemployment benefits ran out for many and those unemployed are not included in the count. So the actual unemployment is nearer Great Depression levels.  Enjoy the fantasy if you wish, but the piper will be paid, just as we are now paying for electing the same group of people who caused this depression. The real number of jobs that were lost is probably closer to 700,000. Think about it. Do you see any factories puffing out smoke? Where do all our manufactured products come from? Certainly not the U.S., just a bit of common sense is all it takes to understand and to know the truth.

        One more word on unemployment, in 1933 the unemployment rate was as high as it ever was at 23.2%. That figure included discouraged workers. If we use the same formula today the unemployment rate is now at 17% and climbing.

        Retail sales plummeted almost 6% in a month. Consumers have run out of money. They can’t find jobs because there aren’t enough factories producing goods, and the idea that the U.S. economy can survive on service jobs is bogus. McDonalds is not an employer. It is a slave owner; no benefits, no retirement plan, and no job security. What this all means is that we are not going to have inflation. To have inflation people have to have disposable income. That usually results when people have good jobs. No industry – no jobs get it? How hard is that to understand?  China employs billions of its people, we can't even employ 150 million.