Fitzwilson: Comments on economic trends.

Fitzwilson noted what I have noted a while back: "As investors, our primary navigation guides have been rendered nearly useless.  Markets have become very poor tools for price discovery due to the manipulation by the central planners.  The economic statistics upon which we have relied have also become highly suspect.  Methodologies for calculating important signals such as inflation and employment have been altered to support current policies and narratives, despite the fact that the myriad of these policies have failed to produce the improvement in employment and overall economic activity that one would expect after spending trillions of dollars."

Fitzwilson claims that the US is following its own version of "bail in." The banks had their cash positions improved by getting money to loan at virtually zero interest, while credit card and other loans were kept high. Thus, the public is made to finance the banks, just as they were in the case of Cyprus. Just in a different way.