“Reports Wednesday on manufacturing and company hiring were so weak that many economists immediately downgraded their forecasts for Friday’s jobs report for May. Some analysts also slashed their estimates for growth in the April-June quarter.” Now you got people out there talking about another recession. You’ve got some Democrats talking about perhaps a Great Depression. So now the doom and gloom is surfacing — and believe me, this is not what the regime wanted. This is not part and parcel of the giant plan here.
You don’t have miracle economic recoveries from this baseline, but they’re trying to set something like that up.
Here are three examples, for instance, of the bad economic news over the last few days just from CNBC. “Horror for US Economy as Data Falls Off Cliff.” “Wall Street Baffled by Slowing Economy, Low Yields.” Trader: Prepare for More Money Printing: Analysts.” This last article reported that QE3 is about to start. That’s Quantitative Easing 3. This is like a heroin addiction to people on Wall Street. It is the printing of money. Quantitative Easing 2 that kept stock prices up. You saw what happened. Stock prices were down demonstrably lower yesterday; this creating a panic. They’re down again today. And so now the Wall Street people say, “Hey, give us more money, Ben! Pump some more money in! Start printing some more money.” All of these official fixes have done nothing to revitalize the economy. Let’s go to the audio sound bites and give a listen to this. A panic is beginning to set in out there and the media spin is that we’re in recovery and they couldn’t sustain it. The numbers don’t lie. We have never been in a recovery. This is CNBC’s Squawk on the Street today.