Doug Casey is a no-nonsense financial author and investor who runs the Casey Research website. The following quote from a recent interview shows that Doug's views on the much hyped Economic recovery in the US are very different from the mainstream media shills. I think the interview is very informative and Mr. Casey's conclusions are very logical as opposed to the pablum doled out day after day on MSNBC, Bloomberg etc.
Quote: "By that I mean that people are on average consuming more than they produce. That can only be done by living out of capital – consuming savings – or accumulating debt. For a time, this may drive corporate earnings up, and give this dead-man-walking economy the appearance of returning health, but it's essentially, necessarily, and absolutely unsustainable. This is an illusion of recovery we're seeing – the result of our Wrong-Way Corrigan politicians continuing to encourage people to do the exact opposite of what they should do."_____________________________________________________________
Doug Casey: "It's a Dead-Man-Walking Economy"
By Doug Casey, Casey Research
In an interview with Louis James, the inimitable Doug Casey throws cold water on those celebrating the economic recovery.
[Skype rings: It's Doug Casey, calling from Cafayate, Argentina. He sounds tired, but pleased with himself.]
Doug: Lobo, get out your mower; it's time to cut down some green shoots again, and debunk a bit of the so-called recovery.