bernankes truth, as terrible as it is., page-24

Since we are talking Bernanke and stats, let me chime in on both.

re Bernanke: his testimony once again proves the Fed likes LOW gold prices; as he stated low gold price showed people were more positive about good economic outcomes being delivered by the Fed

So, let us never say again 'Fed don't care about gold prices'. Although Ben said he does not understand gold price, but he certainly cares about it.

re stats: I always hate when I am bombarded with stats so the bombarder can try to prove something that is blatantly untrue.

Here are a couple stats that may show some facts about the great US recovery:

In the year 2000, about 17 million Americans were employed in manufacturing. Today, only about 12 million Americans are employed in manufacturing

In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with the rest of the world. In 2010, that number skyrocketed to $82 billion

The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.

The official unemployment rate has been at 7.5 percent or higher for 54 months in a row. That is the longest stretch in U.S. history.

(my comment: I guess that includes the Great Depression, and the 7.5% of today is a fiddled low number, compared to the past... so real 'bad' past still much better than todays 'fiddled bad')

The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

The percentage of Americans that are self-employed has steadily declined over the past decade and is now at an all-time low.

In the year 2000, there were only 17 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps.

(my comment: I saw food stamp number discussed by the US govt the other day. They said 'not to worry, when the economy gets better the number on food stamps will go down'. This is akin to Skol's answer to me when I asked how the debt would be paid off. He said 'a little at a time'.)

In the year 2000, the ratio of social welfare benefits to salaries and wages was approximately 21 percent. Today, the ratio of social welfare benefits to salaries and wages is approximately 35 percent

(my comment: this point has always been my point of discussion over the last 20 years: when the dollars needed to support the social welfare far outstrip the productively created dollars (real, proper tax income), the system ENDS. I guess if you throw the govt wages onto the social welfare, one will see the system is beyond broke. The productive part of the economy has no chance to support the non productive part. There is no way back, I think)

Since Barack Obama entered the White House, the average price of a gallon of gasoline in the United States has risen from $1.85 to $3.64.

(my comment: we are told there is no inflation)

Right now there are 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.

Median household income in the United States has fallen for four years in a row.

Back in the year 2000, the mortgage delinquency rate was about 2 percent. Today, it is nearly 10 percent.

Back in 2007, about 28 percent of all working families were considered to be among "the working poor". Today, that number is up to 32 percent

According to the Federal Reserve, the median net worth of families in the United States declined "from $126,400 in 2007 to $77,300 in 2010

According to the New York Times, the average debt burden for U.S. households that earn $20,000 a year or less "more than doubled to $26,000 between 2001 and 2010

Today, more than a million public school students in the United States are homeless. This is the first time that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year