If you think I'm pessimistic. I haven't got diddley on this guy and he's one cleva cookie.

Interview with John Williams of Shadowstats

John believes the real unemployment rate is 22%, not 8.1%, which is why it still feels like a recession. He also calculates the CPI at 6%, not 2.8%, and explains how the government manipulates the rate of inflation. Lastly, John believes the US is still on track for hyperinflation in 2014 as we near the coming fiscal cliff.

John received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as Fortune 500 companies. Formally known as Walter J. Williams, his friends call him John. For nearly 30 years, John has been a private consulting economist and, out of necessity, had to become a specialist in government economic reporting.

Guess where a large portion of Florida's exports go…

An if you thought the US was a bastion of economic propriety compared to the Europeans well you might want to rethink that becausee the Fed is doing everything it can to prevent the EU from sinking into an abyss. So for those who think the world especially the US RE market is a rosy place endowed with infinite opportunity to become rich and wealthy well I have news for you.

• instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!

• "the recent unprecedented build-up of cash balances by [foreign banks] was almost entirely composed of excess reserves."

• why has the Fed paid some $6 billion in interest to foreign banks, in the process subsidizing and keeping insolvent European and other foreign banks, in business and explicitly to the detriment of countless US-based banks who have to compete with Fed-funded foreign banks and who have to fire countless workers courtesy of this Fed subsidy to foreign workers?

What you guys fail to realise is that the US economy and by default state economies rely on a direct IV line into the US economies arm kindly provided by the FED. With out QE juice the US economy tanks – much like a drug addict when they don't get their fix.

Every time the Fed turns the tap off the US economy starts to tank.

The biggest asset the Fed has is a big arse printer that runs 24/7. This printer wasn't designed to run 24/7 indefinitely nor can it. So whadaya think will happen when the day comes to pull the plug? I got a fair idea.

The US is like a drug addict now addicted to QE. But like most drug addicts it didn't start out that way. A bit of morphine to control the pain is OK when you're sick. The common sense thing to do is fix the problem so you don't need pain killers anymore. But like a terminal patient who can't be fixed because they really don't know how and anyway the system is much sicker than anyone ever imagined. So they need to up the dose as preceding doses diminish in effectiveness.

Pretty soon like most drug addicts you need a fix just to stay normal but now you know you're not getting any better. The only chance to regain health is radical surgery and a painful rehab process that could take years so like most addicts you opt to stay on the juice but retain all the good intentions to do something soon. 

Trouble is soon never comes and over time the addiction remains while the body continues to disintegrate. Death become inevitable but it's going to be a long drawn out painful one at this rate. 

How many times do I have to ask?

"Give me some hard data that supports your contention that Florida is worth a long term investment in property."