Central Bankers Are Now Trying To Explain Away The Collapse

US household debt has now hit levels back in 2008. More debt is good for the bankers not for the people. Loan demand is down and credit has recently crashed. Mortgage application have declined again during the hot season for real estate. Central bankers are continually trying to explain why the recovery has not taken off, this time it is because the older generation is hoarding their savings. US Government officials have said they have been calculating the GDP incorrectly and it should be at least .4% higher. They are trying everything to re-manipulate the numbers to make the economy look better than it really is. Bill Blain says the stock market is up and there is really no reason for it be this high, everyone is expecting a correction.