Ah-Ha Moment
Courtesy of Michael Panzner’s of Financial Armageddon
(Image: source.)
Ah-ha! I finally figured out why the clowns our leaders in Washington and the fools "experts" on Wall Street are so positive: they’ve been getting their updates on the economy from the Daily Pygmy!
"Recession a Myth, Say Absurdly Rich People"
According to a survey of the top point one percent wealthiest Americans, there is no such thing as recession. Of the 300 millionaires and billionaires surveyed, only two of them said that a recession had taken place since the housing bubble burst in 2008.
“It’s classic media sensationalism,” said oil magnate Jeremiah Wallace, who was swimming in his vault of gold coins at the time of interview. “The reality is that people still have money to fuel their private jets and buy castles in the Scottish Highlands.”
A large minority of those questioned – thirty-two percent – believe that poverty is a fabrication of acquisitive non-profit and charitable organizations run amok.
“Where are all these so-called poor people?” asked retail tycoon Constance Spencer, who conducted her interview from behind the tinted window of her Rolls-Royce Phantom. “They’re not at the golf course; they’re not at the spa; they’re not even at the Ritz-Carlton. Pish posh.”
Click here to read the rest.
The Only Choice?
The recession — er, I guess it’s a recovery now, right? — has forced many Americans to make difficult and heart-wrenching decisions, including whether to feed, clothe, and shelter their families, or to spend money on health care, for example. However, if the following Associated Press report, "Wyoming Guns and Grocery Store Dropping Food," is anything to go by, perhaps some of them have decided that there’s really only one choice that makes sense nowadays…?
A southern Wyoming store that sold both guns and groceries has dropped its food sales after 35 years and will focus on selling firearms and outdoor gear.
Davidson’s Gun and Grocery owners Irene and Windell Davidson told the Rawlins Daily Times it’s no longer practical for them to sell groceries because of the recession, shipping costs, more stringent expiration dates on food and distributors requiring bigger minimum orders.
Bad News, Good News
In "More Adults Foregoing Medical Care, Health Insurance Due to Cost," Becker’s Hospital Review highlights one of the tough choices the "recovery" is forcing many Americans to make.
More adults are foregoing medical care or health insurance because they can’t afford it, according to studies by the New York-based Commonwealth Fund and D.C.-based Families USA.
The studies, reported in American Medical News, found that the economic recession has driven patients out of physician offices. The Commonwealth Fund study found the number of uninsured adults rose over the last decade from 38 million to an estimated 52 million, representing 28 percent of the working-age population.
The good news, of course, is that it leaves them with more money to squander spend on dollar store trinkets, junk food, lottery tickets — and stocks.
More fodder for the bulls?
