Like Time, ‘upbeat’ is a relative thing

Daily Telegraph site this evening:

torygraphUSbollocksAmerican syndicated press wires this evening:

USgdp1USgdp2I suppose if your owners are a brace of identical birdbrains living on a tax-free outcrop in the English Channel, then it might change your perspective on events.

Thankfully, it hasn’t changed that of Ambrose Evans-Pritchard:

AEPGreeceIs the correct answer….

13 thoughts on “Like Time, ‘upbeat’ is a relative thing

  1. The two headlines are not in conflict. It is clear that the US economy is finally in a growth phase, but it is growing from a lower base than was previously admitted. This comes as no great surprise to anyone who has been paying attention.

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  2. Yeah, but what interests me is the effect on the run-up to the UK’s Referendum on EU membership – here’s a copy of another email to my MP who is now a member of Cameron’s cabinet.

    “Hello,

    Do you agree the Troika’s treatment of Greece, and French differential treatment of African migrants at their borders with Italy and UK, shows how misguided and potentially treasonous is Cameron’s case for continued membership of the EU?

    He seems already to have abandoned hopes of a Treaty Change and his promises that other safeguards, such as his claim that Britain would no longer have to contribute to Eurozone “bailouts” based on an agreement he thought he had reached in relation to the EFSM and EFSF agreements has since been shown to be false as the quote below demonstrates – not to mention Osborne’s “white-faced” retreat from a Finance Ministers meeting when he unsuccessfully tried to defend the so-called safeguard –

    “Indeed, the 2015 Conservative manifesto boasts: “We took Britain out of Eurozone bailouts, including for Greece – the
    first ever return of powers from Brussels.”

    EU officials this morning said that deal – arguably Mr Cameron’s greatest diplomatic coup in Europe to date – had been
    assessed by lawyers as nothing more than a “political” accord with no legal force.”

    So-called protection of the UK’s position by guarantees for “Bridging Loan” support are worthless as the guarantees themselves are not backed by meaningfully exercisable securities issued by Greece’s creditor nations.

    Perhaps Cameron and Osborne are hoping the Eurozone will self-destruct as the IMF is now backing-out of a third bailout for Greece before their promised referendum – or perhaps they are hoping to hold the referendum before that happens – or perhaps they are just hoping they can pull enough wool over enough eyes to escape from their own false promises – any such motivation is despicable and neither man deserves voter support.

    Unless Cameron and Osborne succeed in detaching the UK from the political chains of the EU and restore, by Treaty Change, or abrogation, a “Trade-Only” relationship they should be tried for Treason.

    Regards,

    Zummerzetboy

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  3. Seven years of low rates but wait I see green shoots GREEN SHOOTS let’s raise rates ……..DOH! ………a new recession

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  4. interesting conundrum….
    by coincidence, we have just returned (14.30 CET) from meeting up with our old chumps- Rupert Blanketstein ex Goldman, and Gemma Lamb-basting from Frankfurt banking circles, hosted by our dear friend Vice Admiral Sir Rodney Carruthers-Smythe ex sshhh beginning with MI – on his luxury yacht moored in an opulent mediterranean location for the summer months. We were looked after with every attention to detail by his crew of 12 mixed sex and nationalities, and rather over indulged in the bar and dining room.
    We came to the conclusion that – with regard to rising US rates- ( and we always discuss a long list of current issues affecting our investments and incomes- not to mention the irritating but necessary t a x avoidance) ….that emerging markets are going to feel this dollar squeeze – at a time when commodities have been hammered and nailed to the floor – thereby initiating a new round of credit negotiations with the same clients with revalued (southwards) collateral thereby oiling the wheels going into the US presidentials in november next year. All part of the planned continuation of US dominance around the world – and rightly so.
    All in a day’s work at the Fed.

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  5. @ Bill – That’s my impression too. I’ve lost count of the times the media predict the Fed is about to consider raising rates because of the positive job situation, growing economy and inflation beginning to rise, followed only days later by news that the unemployment rate grew unexpectedly, or this month’s growth was lower than anticipated, inflation was flat and lo and behold, the Fed hold the rate at zero again … and again …. for months/years on end ….. The truth seems to be they can’t allow it to happen but need to keep everyone dangling …..

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  6. Some (long time water carriers one suspects) at the Fed are getting nervous & have called in Nomi Prins (ex Goldman Sachs managing Dir.) for consultations.
    Financial power is being consolidated into the big six banks:
    http://www.youtube.com/watch?v=132lK9W28Ok
    Or, Put In Search Box (PISB): Nomi Prins – Fed Trapped in Money Printing Policy
    Loan shark terms in Greece to prop up Deutschebank.
    43.20 mins

    Also: youtube & PISB: Nomi Prins – People Don’t Have Any Money
    21.16 mins
    In building terms, the (Western Financial) wall has been plastered & painted, the foundations have not been fixed.

    Catherine Austin Fitts has an interesting perspective.
    Debt entrapment has been used as a control & profit mechanism for centuries.
    Greece is different, it’s a coup d’etat. (with the EU minions going faster than the IMF wants?)
    BRICS want to build the pie, while the West wants to shrink it.
    Agenda 21, toward a feudal future?
    Mr. Global heading toward One World Govt & currency.
    youtube & PISB: Catherine Austin Fitts – Major Turning Point Comes This Fall
    27.18 mins

    Also: youtube & PISB: Catherine Austin Fitts ~ What is Mr. Global up to these days…– The Plane Truth ~ PTS 3134
    1 hr 31 mins
    Americans being dumbed down & debilitated in common core “education” system & via poor & GMO foods, the last 50 yrs. = a slow coup d’etat. UFOs & foodstamps, Snowden, chemtrails & Rothschilds. depopulation & private prisons for profit. Genocide?

    It’s getting harder to see the wood for the trees.

    John Doran.

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  7. nwf
    Nice try, but the presentation of the two headlines is 180° at odds.
    And based on hrs worked, non farm payrolls and real job creation, the US is not in a growth phase, sorry.

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  8. The two headlines are not about the same thing. One says that in the past, the US economy has been weaker than we were led to believe. The other says that today, and by inference in the near future, it is growing.

    As to “growth”, this is conventionally measured by GDP. You find that unsatisfactory, and I’m not saying that I disagree, but you can’t criticise an editor for using words to mean what he knows his readers expect them to mean.

    I would not be surprised to find that the current economic data is one day revised down. Again, a different story.

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  9. there is absolutely no growth in the US. The Stock market is being fueled by free money to big banks, their wealthy investors, and big business. The wholesale buy-back of their own shares by all of the corporate giants is hlding their share prices up despite the fundamentals being dreadful.
    The unemployment figures are completely falsified, and not questioned at all by mainstream media.
    Car loans and credit cards and social security (“food-stamps”) are keeping rioting off the streets.
    The collapse in oil prices have helped offset the vapourisation of the shale boom.
    And finally they are still printing dollars non-stop.

    I repeat, there is no growth.

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  10. +1 america is a crime scene. the obama administration are rotten to the core. lying statistics , shadowstats puts u.s unemployment rate around 20%,poisoned air,water,food average american is vastly overweight and totally misinformed, doesnt know or care. however they love to read about kardashian arses and that f**king lion. god help the ones that are awake, i really, really feel for them.cc

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