This morning the economic con-men are telling you that today's release of a +3.5% GDP number has officially marked the end of the recession. All I can say is *%!!&*^!.. Well, I really couldn't say what I want to say.

Don't be fooled, the economy is much worse that what we are being told. My visit to Detroit, and Michigan in general paints a totally different picture. The jobless rate in Michigan is over 20%, and nationwide, according to "John Williams' Shadow Government Statistics" the national picture shows an unemployment rate of about 17%.

This morning, the economic con-men tried to put a positive spin the jobless numbers as well. These people are trying to get you to believe that while the economy is losing 500,000 jobs a week, it is good news because it was not as many as they had expected. All I can say is *%!!&*^!..

Today, our reckless Federal Reserve will end its $300 billion Treasury purchase program. This is where the Fed prints money, and takes that money and buys our nations debt. They are doing this because the Chinese, Russians, and many of the petrol-nations have stopped doing so. In the real world, if you and I did this, it would be known as check kiting.

The impact of no or low demand for our longer term debt is high long term interest rates. This is what should happen, but of course we will have to wait for the evidence first.

Yesterday, the economic con-men were stunned when consumers confidence fell "unexpectedly" in October. I had to laugh when I heard them try and spin this one. How can confidence be restored when people don't have jobs?

In the weeks and months ahead, I think you'll hear that the Christmas selling season will be a bust, and the GDP numbers will be flat to down.