Ranting Andy: The Biggest Miss in U.S. History

RANTINGANDY – C’mon guys (US Government), I really wanted to take a day off from writing.  But you’re making it too easy for me, displaying levels of ineptitude that I rarely come across.  Even my wife is saying “this country is getting so embarrassing, I’d be afraid to leave it and get laughed at by the rest of the world”.  Fortunately, in our trip to the UK next week for GATA Gold Rush, we will find equally high levels of ineptitude, as the bankers and politicians in London certainly are giving those from New York and Washington a run for their money.

Today’s GDP report was probably the biggest miss versus “consensus” I have ever seen, following in the heels of a slew of worst-ever misses versus “consensus” across the board, from housing to construction activity to employment (remember the June employment report, 18,000 jobs versus the “consensus” 170,000?).  Those creating the consensus are among the dumbest “economists” and “market strategists” in human history (a truly lofty title, by the way), and frankly I’ve always sensed these numbers were created with the help of the government, in order to assist in its propaganda strategy of MOPE, as Jim Sinclair calls it, or Management of Perspective Economics.  In other words, to keep people thinking things are “improving”, ESPECIALLY if the numbers can BEAT CONSENSUS and thus suggest an upward accelerating trend (which of course the puppet media will report).

In recent months, we have seen more “worst ever misses” than the sum total seen in my 20 years on Wall Street, so my paranoid (and generally correct) sniffer started to sense this could not be a coincidence, given the furor over the potential ending or non-ending of QE in June.  I started to think TPTB purposely created these colossal misses to prove that QE3 was required, which may in fact have been the case.  However, at the time of the Fed’s June 22nd policy making meeting, gold was hitting a new all-time high, and thus the Fed knew they could not announce QE3, which would have caused gold to rocket to $2,000 immediately and likely cause a run on the dollar.  So instead they have had to print money covertly, biding their time to do it overtly when market conditions showed the time to be right.

Unfortunately for them, the economy has continued to crater, while at the same time commodity prices have soared and gold has surged to new all-time highs against nearly all currencies.  Moreover, sovereign debt crises are breaking out everywhere, nowhere more prominently than here in the United States of Corruption (sorry to the University of Southern California, I’m not trying to besmirch your moniker).  In other words, I no longer believe these massive “misses versus consensus” are being engineered, although they may have been this spring.  Instead, I simply believe the system is coming apart at the seams, both here in America and across the Atlantic (Western Europe) and Pacific (Japan) ponds.

The end has in fact arrived, whether or whether not a debt ceiling agreement is reached by Tuesday night (as I wrote yesterday in “Sunday Night Special”, I believe a pathetic patch will be announced Sunday night, just in time for Asian trading, and when it is, the deal will be sealed for hyperinflation).  Of course, hyperinflation will occur under either scenario, it’s just a matter how rapidly the onset.

Again, I see no more than three months before the initial effects of accelerating inflation are felt by all Americans and Western Europeans.  Each day you wait to PROTECT YOURSELF from these events will become more expensive, and potentially more dangerous.  Take care of your friends and family, as these are the times when the definitions of those terms will be tested to their fullest.


2 Responses to Ranting Andy: The Biggest Miss in U.S. History

  1. George Silver says:

    “Leave a Reply”

    What’s the point you never respond.

  2. Ranting Andy says:

    what’s your question?

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