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No word gives me a Clockwork Orange-type aversion reaction more than “recovery”; as in the supposed economic recovery America has undergone for the past year – or two, five, or ten, according to the prevailing PROPAGANDA of the moment.

Since the March 2000 “tech wreck,” the Federal Reserve has PRINTED MONEY and pumped it into the financial markets with reckless abandon; whilst the U.S. Treasury has BORROWED MONEY and giving it to Congress – which, in turn, SPENT it on non-productive means, yielding the largest debt edifice in HISTORY…

US National Debt Graph

Care of such MANIPULATION, stock prices have been taken to new nominal highs.  However, in REAL terms the “DOW JONES PROPAGANDA AVERAGE” is arguably down more than 65%…

Dow Jones Ind Avg 00-Present Inflation

Meanwhile, such “liquidity” – and government-sponsored, market-distorting Wall Street speculation – caused a “dead-cat” bounce in U.S. housing prices; still, just a blip compared to what was lost in 2007-09…

S&P Case Shiller Home Price Index

…and now that interest rates have barely ticked higher, said “housing recovery” is on the verge of going DOA…

Farewell “Housing Recovery” – Housing Starts miss Most since January 2007, Permits Have Biggest Miss in History

Following 45% Collapse, Mortgage Applications are back to 2011 Lows

Existing Home Sales Fall by Most in 2013, Biggest Miss in 12 Months

Meanwhile, the REAL economy is decidedly NOT “recovering”…

Google, Microsoft miss Top and Bottom Line

Where did all the Revenues go?

IBM, Intel, eBay All Miss Top-Line Estimates

Retail Sales Slide, Miss: Biggest Drop and Miss in 12 Months

…although Bennie likes to thinks so…

Bernanke: “Profit Recovery has Preceded Job Recovery”; Yes it Has!

…as his focus is ENTIRELY on the counterproductive, life-sucking banks – whose “profits” have risen solely due to government-sanctioned ACCOUNTING FRAUD…

Bank of America: From Loss to Profit thanks to Mark-to-Unicorn

JPM Beats thanks to $1.4 Billion Reserve Release; Net Interest Margin Drops to Record Low; Mortgage Production Slides

…and government-funded “carry trade” profits; which, by the way, are on the verge of EXTINCTION…

END OF THE CARRY TRADE – AND WITH IT, THE ENTIRE GLOBAL FINANCIAL SYSTEM

By the way, for those that think the seemingly unlimited ZIRP handouts have made the financial sector “safer”; consider that it still holds $14+ trillion of on balance sheet debt – and who knows how much off balance sheet

Financial Business Credit market

…whilst “underprivileged” MAIN STREET companies have not seen any relief; but rather, parabolic debt growth…

Total Credit Market Debt Domestic Non fiancial

…as the Fed’s FREE MONEY only helps the bankers (which own the Fed); at the expense of ALL ELSE…

Easy Money Helps Wall Street, Threatens Main Street

For all the hype about “recovery,” we are still seeing nearly ZERO GDP growth – and much less if REAL accounting was utilized…

Goldman joins JPM in Cutting Q2 GDP to 1% Stall Speed; A “Funny Chart” becomes Funnier

…getting worse each month; care of the “DIMINISHING RETURNS” inherent in PRINTING MONEY…

GDP Estimates Dow Graph

As for jobs, what more can I say but to show you this chart…

Growth Since Cycle Trough

…depicting America’s “NEW EMPLOYMENT PARADIGM”; in which essentially all new jobs pertain solely to population growth – given the manufacturing sector left years ago, NEVER to return…

Restaurant and Bar Employees

And don’t forget the HORRIFIC impact the “OBAMACARE CATASTROPHE” has just begun to assert; as literally millions of full-time jobs will become part-time positions in the coming years…

Obamacare is turning Walmart Workers into Temps

In other words, the “so-called” recovery is just that – in NAME ONLY.  In REAL terms, America’s economy – and much of the Western World, for that matter – has NEVER been weaker; and care of both structural and demographic factors – plus accelerated Central bank MONEY PRINTING – it will only get worse.

Ultimately, the aforementioned debts WILL be defaulted; either literally or via inflation.  That is the ONLY way this mess can be expunged – as has been the case in EVERY instance throughout history.  Oh, the PROPAGANDA will continue until the bitter end; but ultimately, the “SO-CALLED RECOVERY” will be recognized for the sham it is – and likely, MUCH sooner than you can imagine…

Everything Is Fine, But…