Where is the Truth About The American Economy?

The lamestream media is spinning Recovery, Recovery....The stock market remains high (even in Japan)...But the Economic indicators tell a different story....Beware if Television is your primary news source YOU ARE BEING LIED TO! How can there be a "recovery" when:

The price of gasoline is about to cross the psychologically-important $4 a gallon threshold in some areas of the United States. Its already above $4 in California.

In February, food prices in the United States rose at the fastest rate in 36 years.

According to the U.S. Labor Department, the cost of living in the United States hit a brand new all-time record high in the month of February.

 According to the National Association of Realtors, sales of previously existing homes in the United States dropped a  9.6 percent in February. The National Association of Realtors also has announced that the median home price is the lowest it has been in 9 years.   Housing analyst Gary Shilling is warning that U.S. housing prices are likely to drop another 20 percent.

According to the Mortgage Bankers Association, at least 8 million Americans are at least one month behind on their mortgage payments at this point.

 31 percent of the homeowners that responded to a recent Rasmussen Reports survey indicated that they are "underwater" on their mortgages. 

Millions of American families are drowning in debt and debt collectors are becoming increasingly aggressive. According to a new Federal Trade Commission report, consumer complaints about debt collectors rose by 17 percent last year.

Meredith Whitney is warning that even though it may take longer than she originally projected, we are still going to see a wave of municipal bond defaults worth hundreds of billions of dollars.  This is HUGE for pension payments!

The damage from the tsunami in Japan continues to affect more American Workers. ALL CAR PLANTS IN JAPAN ARE SHUT DOWN! GM has just announced that they are going to temporarily lay off workers at a Buffalo engine plant due to a shortage of parts from Japan. When supply chains are going to get fully back to normal is anyone's guess. GM has also temporarily shut down a facility in Shreveport, Louisiana due to supply problems.

So there it is....do you see a recovery? When you see a storm coming, the prudent thing to do is to make preparations. Most people believe what they want to believe, but anyone that cannot see the economic storm clouds on the horizon at this point has got to be pretty clueless. Our entire economic system is slowly failing. Get prepared for inflation....when QE2 hits (next year or sooner) we will see 35 to 40% inflation....and when we have QE3 we will see 50 to 75% inflation....The bright spots? Gold and Sliver will skyrocket!