No Recovery: Economic Stats Have Been Faked

by Jonathan Hunt

Author, investor and longtime Wall Street observer James Dale Davidson says the government is lying to us: There is no genuine economic recovery happening.

“I think what we have seen ... is a simulated recovery which has been generated by the government faking it in a lot of different ways," putting out what he calls statistical falsehoods on economic numbers "to make it seem that the economy is stronger than it is,” Davidson told Newsmax.

For example, calculations for the recently released unemployment figures released failed to include the fact that the Bureau of Labor Statistics had undercounted the number of unemployed people in 2009 by 824,000 persons.

"A lot of the supposed improvements have been faked by the government," Davidson says.

Davidson believes the government secretly used quantitative easing as an excuse to funnel money into U.S. capital markets.

“It’s not a coincidence that the market started to rally in March at the same time they announced they were going to do the quantitative easing,” he observes.

“In my view, it’s all created by the government as a hoax.”

The whole administration is based on one lie after another, he says.