MidnightWatcher – Prophecy in Motion

By Paul Joseph Watson – “Yesterday’s so-called ‘horror’ show for the US economy with the release of new data illustrating how the economic ‘recovery’ has all but ground to a halt was met with feigned astonishment and shock by the establishment media, and yet for the past two years the public has been continually deceived about the true state of the financial system.

All the hot air about an ‘economic recovery’ has served to hide the fact that the United States is slipping back into a double-dip recession, if not a second ‘great depression,’ as market strategist Peter Yastrow told CNBC yesterday.

1) In 2009, when the media claimed the economic ‘recovery’ had begun, oil prices averaged $54 dollars a barrel. In the 24 months since, the cost has doubled. Americans are paying more and more to fill up at the pump with Goldman Sachs predicting that gas will hit $5 dollars a gallon by summer. This figure was already reached in Washington DC two months ago. Far from representing a ‘recovery’ this is in fact another crippling expense that many Americans people simply cannot afford.

2) The housing market has shown no ‘recovery’ whatsoever. The collapse in US house prices ‘is now greater than that suffered during the Great Depression.’ Prices have plunged by 33 per cent since 2007. Home ownership is at its lowest level for 20 years.” Read more.

Moody’s Warns of Downgrade for U.S. Credit – “Finally, a logical warning on US credit. Moody’s is out with a comment saying that if there’s no imminent progress on the debt ceiling fight, the US credit rating will be cut.” Read more.

Employment growth slows sharply in May – “The U.S. economy may be in for a prolonged period of soft growth as employers hired the fewest number of workers in eight months in May and the unemployment rate rose to 9.1 percent. Nonfarm payrolls increased 54,000 last month, the Labor Department said, fewer than the most pessimistic forecast in the Reuters survey and just over a third of what economists had expected.” Read more.