Stimulus: Spin and Spun

If you want some insights into the disdain that the folks in Washington D.C. have for the rest of us and our intnelligence, read the report released today that puts a spin on the use of the stimulus funds that is laughable.

I won't get into much of it but here is one example:

$60 million to fill potholes in Peoria, Illinois producing a cost for each temporary job to fill those potholes of around $63,000 per job.

Even worse is the expenditure of $550,000 to build an outdoor skateboard park in Rhode Island.

Read the report for yourself, I do not want to go on.

Here is a link: http://www.whitehouse.gov/assets/documents/100-days.pdf

The focus of this blog is the incredible spin on this by the administration and the media, attempting to divert the real cost of this administrations recklessness.

At the same time that this television crazed president was speaking on all the benefits of his policies, the Treasury markets were spiking!

Now, for the first time, we are seeing rate increases onto the shorter end of the curve, whereas up to now, the increases were happening on the 10 year and longer portions of the curve.

This is much more telling on recovery results and the effectiveness of this stimulus than anything else you can read or hear in the mainstream media and the spin being attempted.

That is one of the most damning and damaging results of this president and this congress.

Interest rates are on the rise and will likely continue to rise, perhaps spiral.

The inflation that I have been warning about is going to happen quicker than I expect and for certain, much more quickly than this administration is thinking and it will be part of the reason any hope of any meaningful recovery will be curtailed or snuffed out.

So, do not get spun folks. The nation is on a track towards failure at the moment and there is not enough energy to spin that reality around to be what these spin masters are doing.

The administration has determined that the public is going to buy into whatever Obama will get on television and say and anyone who says differently will be marginalized and referred to as nay sayers or worse yet---put onto the Homeland Security list of threats to the National security!. By the way, this is on the way to happening and the First Amendment will be effectively altered to be managed by these power mongers.

So, listen if you like to the spin but don't get spun.

If you haven't done it yet, get some gold into your portfolio, buy the inflation hedge ETF I mentioned in a previous blog (TBT), buy the DIG which will appreciate as crude oil increases and get the report and read it and send your representatives with your opinion on each and every one of these ridiculous projects contained in the report on the 100 projects the administration is touting.

Someone has to say it. I just did!