I understand all your points and they are valid - increase in production, need for strong dollar, and low interest rates.
I'm not an expert and that is why I gave you the website.
Read carefully to what he says. thus far only thing he's been wrong since the beginning of 2007 (when I first started reading this guy) is timing.

He predicted that bailing out of Freddie would be short lived and he was right. only thing it did was prolong what is inevitable - recession or depression.

Recession is not a bad thing if you think about it - cause recessions check the bubble we were in.
but since 1987, we've not corrected the bubble (thanks for Greenspan).
and now we've been in the bubble for so long that it's going to burst and burst big.

Democrats should be very upset about the bail out - that's almost as much money spent on one day than what we spent on all of iraq war.
Who is going to pay for that?

Oh, you believe the government's statistics which show GDP growth? Here is a handy link to destroy that illusion:

http://financialsense.com/fsu/editorials/schiff/2008/0905.html

3.3% GDP growth? Nope, more like a 3.5% decline. The USA is already in recession. Of course, the mainstream and most of the financial media didn't even touch this.

There is actually a reason as to why the government used a low GDP deflator rate. I do not wish to explain all of it in here, but the provided link will explain it.

https://www.ftportfolios.com/Commentary/EconomicResearch/2008/8/4/gdp_report_mis-underestimated

From that article:

"GDP inflation is designed to measure changes in the prices of the things we produce".

To which the article I posted "replies":

"Producer prices are now rising faster than consumer prices (the latest annual reading of the Producer Price Index ‘PPI’ being 13.2% annualized from the 2nd quarter), which helps explain why corporate profits have fallen drastically. In addition, from July 2007 through July 2008 (the latest data available) import and export prices have risen 21.6% and 10.2% respectively. In other words, no matter what numbers you use, the 1.2% GDP deflator simply doesn’t add up."

The wages you earn in an ecconomy are (essentially) a reflection of supply and demand of the skills you have as an employee. Now, a minimum wage acts like a minimum price of any type of good which has massive variation in quality; if it is low enough it prevents explotation, but if it is high enough it reduces employment for lower "quality" employees. To illustrate this, consider what would happen if someone instituted a minimum price on a meal at a restaurant ... if it was low (like $5 or $6) it wouldn't really impact how many restaurants survived, but if it is too high (like $50) eating at a restaurant would become a luxury and some restaurants would thrive from the additional income while most would not be able to find customers.

American Economy is in turmoil, UK economy is in even a worse state of turmoil than the US and the whole world economies are in turmoil. World economic recession has kicked in and hard times are ahead for everyone.

That guy is simply calling a conspiracy where there is none. He said it does not add up, but provides nothing to showcase that.

That petroleum prices skyrocketed in the 2nd quarter is congruous with pushing down the GDP deflation rate...which is exactly what the BLS numbers showed. I am not saying this is good for the economy. Some feel uncomfortable with the idea that higher oil prices increase GDP. They may be right to be concerned, as deep down it doesn’t really make sense; but to say the government fudged the numbers is a conspiracy theorist's pipe dream and nothing more.

that's right.

Media doesn't know what to report and when they do they are usually very very late.

and please read this guy.  especially the link i posted from a year ago.  This guy is scary accurate.

today's post is a good one because it's something that happens quite a bit but nobody notices.
Go check it out.
http://market-ticker.denninger.net/

Also, watch the video at the bottom.

ok ok, so he looks little weird.