It has become an exhausting process attempting to translate back into the real world all of the fantasy-numbers passed off on us as “economic statistics”. It’s even more exhausting trying to unravel the Machiavellian nonsense dubbed “analysis” – and then trace back a path to sanity.

So rather than making a (futile) effort to rebut all of this vacuous propaganda in isolation, this article is an attempt to provide a (necessarily abbreviated) summation of the economic fantasy-world presented to us by the mainstream media.

As always, the best place to start in exposing this statistical mythology is the U.S. housing market, since that’s where the propaganda machine provides us with the best laughs. Ever since the collapse of the U.S. housing market in 2007; every two or three months the mainstream media has proclaimed that the U.S. housing market is “starting to recover.”

With the U.S. housing market (supposedly) experiencing roughly its 20th “recovery” over the past five years; this time the mainstream media assures us they’re serious. Let’s take a look at what the charts say...

Read the rest:

The 2013 Economic Reality-Check