U.S. stocks declined, halting a three-day rally for the Standard & Poor’s 500 Index, amid concern Europe’s debt crisis is worsening and as commodities slumped on news China will not relax property control policies.
Fact: Spain has not ceased deficit spending as they refuse to have the conversation necessary with their citizens on what they’re willing to pay for with current taxes, realigning government size with that tax revenue.
Fact: The United States not only has failed to do this, it refuses to do this.
Fact: None of the other western economies have done this either.
Fact: Politicians continue to lie, Central Bankers continue to lie, and we now have hard documentary proof that they’ve all been lyingand enabling theft and fraud on a pretty-much continual basis since 2007 — and before.
Remember that one of the “hallmarks” of 2009 was the Kanjorski hearing in which Congress explicitly made bank balance sheet fraud government policy.
Folks, “Fed policy heroin” games are like any other drug. They eventually kill the entity using them by destroying the foundation on which their health rests.
It will not be different this time.