It is still amazing to see how there are still a lot of professionals who are not yet willing to admit that we have been in a depression for the past year. But if we understand the position that many of those professionals are in, you will be able to see why the American people are constantly being lied that the US is on the verge of economic recovery. Economic analysts and other professionals work for corporations, insurance, Wall Street, banking and even the government. Announcing honestly that we are still in a depression and still years from recovery will eventually squeeze out any chances and opportunities for them to keep their business and companies running.

Just recently I read an article on a very reputable investment website that said that following the trends of investors to secure their assets in gold and avoiding investments in high-debt countries would be like falling prey to other investor’s moves which the writer called as being an easy pitfall. But then again, this is an article posted on an investment website. If people shy away from investing in companies through stocks and bonds and invested in real money which is precious metal, these companies will eventually go bankrupt.

The first step towards recovery in the US is by admitting and accepting that we are still in a great depression. If you ever want to expect to get the truth, don’t listen to economic analysts who are connected to investment companies, insurance, Wall Street, banking system and even the government.

TheInternationalForecaster.com wrote,

…the depression we are enveloped in is far from over. The recession encompassed a drop in real GDP in the midst of a credit crisis. The crisis was the result of over-extended credit, prohibitively low interest rates, massive speculation by banks, brokerage houses, insurance companies, and corporations worldwide. It just didn’t happen it was planned that way. We saw that recently in testimony before Congress when CEOs of these financial firms admitted they made a mistake in the process of enriching themselves.

The worst sin was the criminal securitization of mortgages and the deliberately criminal mislabeling of their ratings. Then making matters worse those who sold this toxic garbage to their clients such as Goldman Sachs, JP Morgan Chase and Citigroup were shorting the product that they had just sold to their best clients.

What kind of monsters are these people? Unethical doesn’t go far enough. It was criminal. These are the same characters, along with the Fed, and others, who gave us the dotcom boom and collapse and then foisted the real estate boom on our economy. The result has been deflating assets and contracting credit offset by massive lending, money and credit creation by the Fed and monetization, all temporary expedient measures, which in the context of history has led to failure. This has been in process for seven years. This second major abuse of our system in 14 years has presented a terrible dilemma and that is where we are today. Our monetary policy hasn’t worked and won’t work and there has been and presently is little fiscal control in Washington. This is no normal recession; it is a depression.

So who can you really expect to get the truth from? As sad as it sounds, obviously not the US government. The same people who promised that the stimulus package of over US$700 billion will create jobs in 2010 are the same one who says that the recovery is here. The truth is, unemployment rate is still climbing higher despite the stimulus program. The unemployment rate in the US has reached to a point very close to the depression levels of the “Great Depression” in 1929. Heritage.org posted a graph of Obama’s job deficit of December 2009.

If you really think about it, how can recovery be already here if the broader unemployment rate is 17.3% according to Wall Street Journal? How can there be a recovery if there are still additional threat of even more unemployment? Also with the foreclosure list still growing, who is going to buy all the new housing and FHA inventory? Not to mention the commercial inventory such as office buildings which are currently building up, who will buy all those in the near future?

The Obama stimulus program, including cash for clunkers, is only to buy time, but in the end those programs are a colossal failure. Because of all this stimulus money, the national deficit increases around $1.4 trillion a year with 10% annual interest into the national federal debt.

All the monetizing and funding in the real estate market over the next decade will be very disruptive and expensive to US dollar users as purchasing power falls. That translates into an additional loss in buying power of some 50%.

People think the foreclosed inventory situation now is very bad. But they haven’t experienced the second wave hitting the market and forecasts say that it will hit some time this year 2010. Homeowners and mortgage borrowers are seeing their that they are underwater on their mortgage and many do not care anymore. They stop paying their mortgage, live in their homes rent free for a year or two, and just walk away or go bankrupt. All the hassle Obama is doing to try keep families in their homes is not going to work at all. In the next wave, more borrowers are going into default.

With all the bailout that Obama is using to help people on million-dollar salaries, Obama has infuriated Americans who are currently living in fear of losing either their jobs or their homes or both. In a recent national poll conducted by CNN, it is revealed that 3 out of 4 Americans think that at least half of the money spent on stimulus programs have been wasted. According to CNN Polling Director Keating Holland, 6 in 10 believe that the projects in the stimulus bill were included for purely political reasons.

Another poll by The Washington Post and ABC News revealed that a majority of 53% had “just some” confidence in President Obama to “make the right decisions” for the US future. 27% answered “none at all” which has tripled from 9% 12 months earlier. In the CNN poll, 56 percent of those surveyed said they oppose the government’s effort using stimulus programs to juice the economy.

While professionals and economic analysts keep lying to Americans and telling them that the recession is over, other independent analysts say it is far from it. Analyzing what is happening now, many forecast food riots, tax riots and even war within the US. With Obama’s popularity going down with every move he makes, poverty spreading more and more in the suburbs, anger towards and lost of faith of Americans in the government, it is hard not to predict that Obama’s administration may end up in violence.

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