Sober Realist

Bill Miller: 'The Worst Has Passed'

July, 20th, 2009
• Current Recession Now Longest Since Great Depression
• June U-6 Unemployment Rate Topped 20% (25% SGS) in Michigan, Oregon, Nevada, California, South Carolina and Rhode Island
• Pressures Will Mount for New Stimulus and Bailouts
• Spreading Depression Creates Its Own Statistical Distortions
• Inflation Signs Begin to Surface
• U.S. Dollar Remains the Key to the Markets and Inflation
• The U.S. economic and systemic solvency crises show no signs of abating, despite the happy hype out of Washington and Wall Street. While the pending second-quarter GDP estimate likely will show a narrowing quarterly contraction, such will be against a deepening annual downturn and revisions that should show the recession to have been not only longer and deeper than previously reported, but also the most severe recession since the shutdown of war production after World War II. Irrespective of media excitement around the fluttering of often statistically-insignif... or seasonally-warped monthly numbers, annual growth rates in key series have been holding at or pushing to new historic or post-war lows.
---Shadowstats.com

Bill Miller: 'The Worst Has Passed'

That is hilarious! But no amount of stimulus will get those dead bodies to walk.


On Jul 24 11:30 AM 31October wrote:

> My father worked in a mortuary once. He said the bodies would occasionally
> sit up, as if they were alive.
>
> And they did that without trillions of dollars of other-people's-non-exi...
> money shoved up...
>
> Sure, numbers will go up for a while. But buying power, employment,
> productivity, and standard of living are not bullish.