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Are our economic troubles over? Opinion by Emil Marino

Now that the Royal Wedding is over, let’s start concentrating on things more important to our country; the NFL draft! Also, the Indians are in first place. What else is there to worry about?

Just keep on reading people.

Should we forget about the Fourteen trillion dollar debt, or the one and a half trillion dollar deficit? Or the two wars that are bleeding us dry, including young Americans lives? And, let’s not think about what Bernanke had to say in meetings with the media. Everything is A.O.K.; the economy is coming along slowly, and most of all, employment should be on the rise by this time next year. Of course, the unemployed should be on their third part-time job by now, if they can afford to drive to it. And, if you believe that horsey sauce they keep telling us, I have some Florida land for sale for you all. Oh, by the way, as of June 1^st 2011, each and every one of us has a debt of $45,000, due to our leaders in Washington.

Since Bernanke or Senators don’t have to pump gas in their limousines, there’s no impact of gas prices as far as they’re concerned. And, the inflation report, as Bernanke tells it; is two percent. I think all of us that do not shop in supermarkets, and retail stores, probably agree with him (gag). I’ve been screaming to newspaper editors for two years to print that inflation is 8 to 10% inflation, not what Bernanke says. But who am I to criticize Bernanke; or the wiz kids in Congress.

Now, you all read the newspapers, and hear on television that inflation is coming, and coming like gangbusters. Well, I have news for them; it already came. Starting two years ago. Right now, my food shopping costs have gone up 15% the past six months. Don’t believe me? Better start keeping track people, because this is only the beginning. In my last Wall Street column, back in March 2011, and I quote;

“I cannot recommend any stocks at this time without throwing a dart at a listing of companies in the stock exchange, and that wouldn’t be fair to readers.”

I continue to stand by that statement because only Wall Street and the wealthy people they cater to believe that all is well in our country. Over four hundred thousand people have been applying for unemployment benefits almost every week this year. The unemployment rate, contrary to what the government tries to tell us to be 9% is double that amount if you count the people who’ve dropped out of the system. Hold onto your seats people, it’s not over. By the way, the market has slowly been declining since March. Hopefully, you all are paying attention.
E-mail Emil at: emarino@lakecounty-sentinel.com
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POSTED 06/01/2011 03:16