America - Are We Hearing Truth Or Are We Getting A Load Of Spin?

As you'll note, I haven't written much on buying stocks online in recent posts. I'll be glad to get to that subject matter. However, I've been temporarily distracted by the lack of honest communication from the press and from officials in Washington. Here's another example found in an article I read earlier today stating that America doesn't have an inflation problem.

This article published by Reuters is titled U.S. Housing Market Improving, Inflation Pressures Muted.. In the article it states "data on Tuesday showed inflation largely under wraps". Who are they kidding?

Consider the following articles:

• Average Price of Ground Beef Hits All-Time High
• 36% Of Americans Haven’t Saved Anything For Retirement
• Study Finds 25% of Troops Use Food Banks
• Hunger in America: 1 in 7 rely on food banks
• Who Uses Food Stamps? Millions of Children
• America's Shameful Poverty Stats

In the last of the above articles it goes on to state the following:

"The current Population Survey data show that 15 percent of Americans, roughly 46.5 million people, live at or below the government-defined poverty line—which, as most who work with the hungry, the homeless, the uninsured, and the underpaid or unemployed know, is itself an inadequate measure of poverty. By more reasonable measures, poverty in this country is even more pervasive.

The headline one can take away from this is that three years into the recovery from the collapse of 2008, poverty numbers haven’t really gone down. Almost all the additional wealth being generated by a growing economy is going to those who already have the most. Median income has stagnated and, for young people, it is continuing to go down."

More articles:

July 2014 CPI, Housing Starts, Real Retail Sales and Earnings, Monetary Base. This article states that:

• Real retail sales contracted for the second month, signaled deepening recession
• Real earnings and retail sales both fell below second quarter levels
• Monetary base explodes to record high (i.e. money printing)
• Quality of housing starts reporting sinks to new low

July Employment and Unemployment, June Construction Spending. This article states the following:

• Minimally weaker than consensus labor numbers
• July Unemployment (The U.S. officially reported unemployment numbers are at 6.2%. A government watchdog ShadowStats reports real unemployment in the U.S. at 23.2%.

• Real construction spending - Stagnation with a recent downside bias
• Economy remains in serious trouble

The website Shadow Government Statistics goes on to express the opinion: that

"The quality of government reporting has deteriorated sharply in the last couple of decades. Reporting problems have included methodological changes to economic reporting that have pushed headline economic and inflation results out of the realm of real-world or common experience."

What Is your opinion on this issue? Post your comments. Speak your mind with dignity and I'll publish it here on this blog.