Who is to Blame? Part 2 The Spin

We can all remember...

George Bush: The economy is structurally sound

http://www.youtube.com/watch?v=oSMpBUURRf0

John McCain: saying the same thing the day Lehman Brothers collapsed

http://www.dailymail.co.uk/news/worldnews/article-1056475/McCain-calls-U-S-economy-fundamentally-sound-day-Lehman-Brothers-declared-bankrupt.html

Ben Bernanke: (2005) House prices will slow and stabilize...I'm confident in the bank regulators... (2006) Consumer spending will continue to grow...auto makers are recovering...
(2007) We expect moderate growth going forward... our assessment...subprime mortgage issues aren't spreading...global economy should be strong...US economy strengthening in 2008.. you get the picture.

http://www.youtube.com/watch?v=HQ79Pt2GNJo&feature=related

What did Bernanke say this week? The sharp declines may be slowing...I am optimistic about our economy...

http://www.federalreserve.gov/newsevents/speech/bernanke20090414a.htm

Jim Kramer: The housing bottom is in..

http://www.huffingtonpost.com/2009/06/03/jim-cramer-buy-a-house-no_n_210768.html


We could go on and on about this. Bottom line is that there is a lot of spin that leaders want us to hear.

Think things are getting better? Want to know where people are getting money from to increase spending? Foreclosures are still rising. Don't pay your home payment and you have more money.

http://www.zerohedge.com/article/march-foreclosures-surge-absolute-record-369491-19-jump-february