Financial Sense University ~ A Statisticians Indictment of Economists 08/21/2003: "Deceptive Indoctrination of Economic Definitions
Redefine important terms and concepts for a debt-based economy
Apparent full cooperation from the press & media, mute opposition
Exploits ignorance and illiteracy among the public
Conscious attempt to abuse “framing” -- psychological technique
Redefined (framed) terms legitimize the debt-based economy
* Legal tender, now money
* Credit access, now wealth
* Monetary inflation, now Fed liquidity
* Deflation, now poor pricing power
* Foreign dependence, now recycled trade gap
* Indebted currency, now dollar reserve
* Rising unemployment, now increased productivity
* general market risk, now volatility
* Stock investment, now channeled savings
* Mortgage investment, now hard real estate asset
* Accounting fraud, now financial engineering
* Derivatives, now off-loaded risk
* Cutting interest income, now reducing interest expense
* REFI consumption bubble, now managing home equity
* Fiscal bankruptcy, now federal stimulus
* Slow-motion recession, now jobless recovery
* Capital hemorrhage, now global trade
* Herbert Hoover, now Sir Alan Greenspan "