The Economy is Good! We are in a Recession!
How Can That Be?
By Mitchell Vexler, February 24, 2026
On February 21, Steve Moore, a highly regarded economist and conservative commentator, made the following statements.
“Economy is good”
“Inflation is down”
“Tariffs are working”
“I think the economy is doing really well, and I know that may put me in a minority, because some of these polls are showing people are worried about that a word you just said, affordability. But you know, we've been tracking the income numbers every month since Trump came into office for a second term, and so far over the first nine months or so, Americans' incomes are rising faster than the inflation rate, that means they have more affordability. In other words, they can afford more things, not less, and that's, by the way, a big reversal of what we saw under Joe Biden.”
This begs the question… Which economy… Who’s economy? The Wall Street economy... or the Main Street economy?
Wall Street and the banksters can clearly pick the meat off the bones of Main Street. Perhaps their day of reckoning is coming as more and more of the fraud of debt and the creation of that debt surface.
Let’s examine a few facts with regard to Main Street – Mom and Pop.
- Daily Affordability is Unobtainable – What can you do about it
- The
Amicus Brief contains the evidence of financial condition of homeowners, property owners and society with regard to the simple fact that roughly 42,000,000 households (37.7% of the household population) are in harm’s way of bankruptcy and or losing the roof over their head and cannot afford their home and the property taxes which continue to climb based on the overvaluation and over taxation demanded to service the school district bond fraud.
- The Debt Model of socialism
- We Live in the World of Fraud and Fraudsters – How to Protect Yourself
- Messages Received from Concerned Americans
- Crisis of Confidence
- The Thread of Inconsequential Actions
- Car loan defaults at all time high. The share of US subprime borrowers at least 60 days behind on their auto loans rose to 6.90% in January 2026, the highest level on record, according to Fitch Ratings data going back to the early 1990s.
- https://www.newyorkfed.org/microeconomics/hhdc Household Debt Balances Reach $18.8 Trillion in the Fourth Quarter. Total household debt increased by $191 billion to hit $18.8 trillion in the fourth quarter of 2025, according to the latest Quarterly Report on Household Debt and Credit. Mortgage balances grew by $98 billion to total $13.17 trillion at the end of December. The pace of mortgage originations continued increasing, with $524 billion newly originated in the fourth quarter. Credit card balances rose by $44 billion from the previous quarter and stood at $1.28 trillion, while auto loan balances increased by $12 billion to $1.67 trillion after holding steady last quarter. HELOC balances increased by $11.6 billion to $434 billion, while HELOC limits rose by $25 billion, continuing an expansion that began in 2022. Student loan balances rose by $11 billion to $1.66 trillion.
- For the first time since 1996, gold has surpassed U.S. Treasury bonds as the largest reserve asset held by foreign central banks, with holdings nearing $4 trillion compared to $3.9 trillion in Treasuries.
- Central banks are aggressively accumulating gold (over 1,100 tons in 2025 alone) as part of a global de-dollarization trend, reducing reliance on the U.S. financial system amid concerns over debt ($38T+), inflation, and weaponized sanctions.
- Gold has delivered a 9.9% annual return over 25 years, outperforming U.S. Treasuries 2:1.
- Rising global conflict, inflation and U.S. fiscal unsustainability have reinforced gold’s role as the ultimate geopolitical hedge, with no 3rd party counter risk. If it is in your hands, you own it.
- Gold has overtaken U.S. Treasury bonds to become the largest reserve asset held by foreign central banks worldwide for the first time in three decades.
- According to the World Gold Council, the total value of gold held by foreign official institutions now approaches $4 trillion, narrowly exceeding their approximate $3.9 trillion in U.S. Treasury holdings. The last time gold held this top position was in 1996.
A recession, if not depression on Main Street, is crystal clear as the school district bond debt cannot be paid off and the liability only increases as a result of the compound cumulative interest which is paid to the lenders for the next 20 to 40 years, who chose to invest in fraud with the lability on the back of Mom and Pop.
Given the above, let’s now consider the following:
- The Article,
Chain the Doors of The Federal Reserve
- The Article,
Your Money (METALS), Your Future, Neither a borrower, nor a lender be
- The Article,
The Federal Reserve is a Failure – Thesis & Fact Part 2
- Fraud = Inflation
- “We have an ordinance” – we the city want you, a multi-family developer, to build a detention pond even though your land is adjacent to a stream and even though there is a detention pond utilized by Walmart (adjacent property on other side) that was designed to hold 60 acres of runoff. The cost of the pond was $250K plus ongoing maintenance. Effectively, this was paid for by rents collected from the residents of an apartment complex, which is inflation and very much fraud on society.
- “It’s for the kids” - property taxes and school district bonds - creating a second mortgage, the equivalent of 70% of the value of your home, to pay for a morally and financially bankrupt school system that is producing students that can’t balance a checkbook and are ill-prepared for life. See article,
For the Kids. The fraudulent bonds continue to earn interest and compound, instead of pushing the fraudsters into immediate bankruptcy.
- “We need fuel taxes because it is good for the environment”. See article,
Cultural Decay.
- “We need special hotel taxes to pay for a marketing campaign created by government employees to promote the state”. This is a make-work program that society and guests pay for and that literally delivers nothing of value. It inflates the cost of your hotel stay.
- According to Stephan Moore (not Steve Moore mentioned above) “Since the global warming crusade started some 30 years ago, the temperature of the planet has not been altered by one-tenth of a degree—as even the alarmists will admit. In other words, $16 trillion has been spent—a lot of people got very, very rich off the government largesse—but there is not a penny of measurable payoff. But it’s much worse than that. In economics there is a concept called opportunity cost: What could we have done with $16 trillion to make the world better off? What if the $16 trillion had been spent on clean water for poor countries, or preventing avoidable deaths from diseases like malaria, or finding the cure for cancer?
The reality is… The enemy of society, regardless of political affiliation, is debt and the purveyors of debt that transferred the fraud they created onto the backs of all taxpaying citizens. Society has been manipulated into thinking certain expenditures are necessary without consideration to the long-term cost of those unnecessary expenditures. Society has been defrauded!
More information can be read at www.mockingbirdproperties.com/dcad and within the Articles, Letters & Discussions section.
All Citizens, not just property owners, are affected by property tax fraud & school district bond fraud. It is important to help everybody become aware of how they are being defrauded. Whether you're new to this subject matter or already have a firm understanding, follow these links & get up to speed.
What's the difference between Omar, Chief Appraiser & Powell? All 3 & their organizations are frauds, as your money is transferred to their pockets, because the debt they created by virtue of fraud cannot be paid off but for printing more money, raising property tax values, issuing more bonds... creating more fraud.
There was no income tax until 1913. That was the same year the Federal Reserve was created. Coincidence? I think not! Accounting Fraud? Guaranteed. Let's review: 1. the current financial health of the U.S. & its people, 2. the historical counts provided by Erased Evidence, and 3. the actual words of Robert F. Kennedy.
Perhaps no phrase is used more to describe the grievances of the colonists in the lead up to the American Revolution than “No taxation without representation!” This Article is an immediate follow-up to We Don’t Need Arguments…We Have Facts, Law & Math. DCAD and SPENCER have FRAUD!
Opposing counsel, officer of court, is attempting to mislead & lie to SCOTX, as truth is that he is not just acting as defense for SPENCER or DCAD, but is in fact aiding & abetting a criminal conspiracy to defraud, participating in scheme to settle cases with no basis in law, fact or math...ignoring law, facts & math.
One should be asking for what purpose have these frauds been created and allowed to exist without adjudication? Who got the benefit in terms of fees, salaries, and interest paid? Could the ultimate answer be to consolidate and control capital flows, and would that not be the definition of socialism?
401(k)s, Pensions, IRAs, federal, state, local gov all invest in municipal bonds (school bonds). Property tax is bankrupting Americans. Schools are bankrupt & continue to ask for more $ (bonds & property taxes). Appraisal Districts fraudulently raise property values. Investing in bonds is investing in fraud.
Quick discussion concerning AI, preparedness, societal manipulation, and independent thought... from cell phones, to education, to healthy eating, to cost of living, to school district bond debt, to property taxes.
Often after writing an article I realize there is more detail and background information that would help to complete it. That is what is included here... a preamble of sorts.
A list of frauds and some links to evidence of fraud is presented. The Hidden Propaganda socialist Model is used by both political parties. The common enemy is inflation & those responsible. None of this would exist if the government and courts were doing their job. So...Why Gold? Why Silver? Why Now?
Report by Mackenzie Eason can only be viewed as a whitewash, because the report is inconsistent & wrong: could not have looked at the requirements or math of USPAP, did not examine the software override allowing manipulation of values; and would take 3 cross examination questions to completely prove the whitewashing.
Being highly levered is an assurance of mass destruction. At the breaking point, will spin out of control, as everybody heads for the exits simultaneously. And it's not just Private Equity structures, but School Districts, that are over-leveraged, requiring bailouts/additional taxes to pay for their financial crimes.
This Open Letter is a bit of a premonition given my experience with politicians, economists, and fraudulent reports. I could be wrong, but let’s see how this plays out in the next few days.
Clock's ticking. Every moment, that passes without property tax repealed & replaced w/ uniform states sales tax, more households are in jeopardy of bankruptcy or losing home. Are you in that position now; are you struggling w/ monthly payments; how much more property tax before you're forced to sell... or go bankrupt?
In Texas, the system itself (CADs, IAAO, TAAO, AG, TEA, State Comptroller, others) all violated the laws & framework they are supposed to represent. Violations enabled fraud to start & grow and are now necessary to feed compound-cumulative interest on fraudulent school district bonds. Vexler's suit exposes this & them.
NY Federal Reserve reported US household debt reached $18.8 Trillion in Q4 2025, up 1% ($191 Billion) from previous qtr. We are at the end, where the compound interest on top of the compounded fraudulent debt cannot be paid down or off. The math is the math... socialism ends when you run out of other people's money.
As an offshoot of our main focus of property tax fraud & school district bond fraud, and in addition to Articles I wrote on socialist behavior (links provided), a pattern of Cultural Decay in both corporations & people has emerged which is the fallout of socialism. Consider the common traits of items presented here.
Roughly 42 mil US households are in harm’s way of bankruptcy or of losing the roof over their head due to property tax fraud & school district bond fraud. The unity among thieves, where they protect each other further expanding fraud, must be replaced with unity among lawful citizens. Your involvement is required!
Why invest in Silver? Vexler has written 6 other related articles discussing metals, the Fed, manipulation, and application of law. Links to these articles are included here... along with 36 additional points for consideration.
Government entities choose to turn a blind eye to what is mathematically quantifiable & politically visible and politicians modify laws to placate the public, only exacerbating the growth of the debt... with no person or entity held accountable... The Thread of Inconsequential Actions can be seen across the U.S.
1/30/2026 Supreme Court of TX requested response from opposing counsel representing Denton CAD. We expect opposing counsel will put forth same nonsense to prohibit adjudication of fraud being perpetrated against every real estate owner & every citizen in Denton County. Perhaps SCOTX now sees the Constitutional issue.
Although my focus is on property tax fraud & school district bond fraud, in effort to help protect against theft & erosion of property rights, precious metals, I continue to share my thoughts in videos & writings because they are all connected. And there's important topic concerning investing in mining companies.
A CONTRACT FOR AMERICA... How to Fight
Vexler provides quick thoughts & comments on Central Appraisal Districts, property tax fraud, school district bond fraud, lack of accountability, compound cumulative effect of bond debt, funding priorities, socialism, gold's resurgence, and credibility... Repeal Property Taxes in Favor of Uniform States Sales Taxes.
Article written by Brandon Smith lays out how history is repeating. He states "sometimes the war chooses you and you have to adapt." There are parallels in his discussion with property tax fraud & school district bond debt. Participation in your local community is not an option... it is an obligation, for your future.
Taxpayers who know something is wrong with appraisal practices & property valuations within their appraisal district should push for a Forensic Audit. Here is a guideline for the Scope of Work Letter between Forensic Accountant & Central Appraisal District, listing many violations and fraudulent activity to uncover.
What changed with U.S. National Debt, school district bond fraud, or U.S. National Deficits in last 24 hours leading to the 1/30/26 precious metals crash? How is crash of metals any different than crash of crude oil 11/28/25? It isn’t, except for 1 thing, manipulation... if not, outright fraud & criminal activity.
If you acknowledge this list as “truths” or if you agree and can answer yes to a majority of these qualifying statements and questions, you should be… investing in Metals and getting involved in repealing all real estate tax in favor of the Uniform States Sales Tax.
Following up on article “socialism is a Noun” I kept thinking about psychology of socialism & proof not just in fact that it was a con from inception, but proof of why it self-terminates when it runs out of other people’s money to steal. Let's review a Bisnow article about proposed bond funding in Ft. Worth Texas.
There are many factors to consider with silver, gold, platinum (commodities). The Federal Reserve with no accountability & no oversight has been printing money, not backed by assets, to support the banks & cover the bond debt, i.e. cover compound cumulative fraud upon compound cumulative fraud. So, who owns the bank?!
This article links to others and digs deeper to show why socialism is the antithesis of capitalism & the U.S. Constitution and why socialism should be codified as illegal... Stop theft & fraud, repeal all property tax in favor of the Uniform States Sales Tax. Your involvement as taxpayer & property owner is crucial.
The 2 largest purveyors of fraud in the U.S. are the Federal Reserve & the School Districts which own the CADs and this is the Civil Rights issue of our generation. In my humble opinion, the true solution is to Chain the Doors of the Federal Reserve and repeal all property tax in favor of the Uniform States Sales Tax.
2011 Report from the Office of Inspector General, along with various letters, discussed & analyzed bank failures and provided recommended course of actions.. of which none were followed... and here we are today... let's review it all & the Federal Reserve.
State(s) Property Tax Codes are criminally violated, not just 1 or 2 sections of code, on an epic level, including failure to comply with Uniform Standards of Professional Appraisal Practice which is required in the code of law. Property Taxes must be repealed in favor of the Uniform State(s) Sales Tax to save us all.
The only way to insist, and get, permanent change starts with knowledge of the issues. Goal is to inform ALL, including politicians, and obtain advocacy from all levels of government. Share this article, all the links to other articles & links to videos. Together we will make a permanent difference.
Every Citizen should be greatly bothered by any political party, official, or judge refusing to adhere to Constitutional law, as in the end, all citizens regardless of party affiliation end up paying for the fraud created. Socialism, a means to perpetrate/perpetuate fraud, should be codified illegal. Protect yourself.
There's a direct correlation to property tax fraud, silver scam, & printing of money via U.S. Treasury & Federal Reserve. The nexus is the creation of false value being fraudulent property valuation from which to steal tax revenue, fraudulent paper chasing paper from which there is no physical to back up the paper...
Auditing serves as a critical function, providing credibility to financial information & enhancing accountability of governmental entities. If your school district & appraisal district are participating in a criminal conspiracy to defraud, you have a civic duty to expose them because it is your money they are stealing.
A Sampling of Recent Messages Attached to Petition Signatures
Recapping recent articles, videos, & events related to school & municipal bond debts, property taxes, and the financial stability of property owners and tax paying citizens… along with a reminder that YOU CAN MAKE A DIFFERENCE.
Conroe Texas' example of the pattern & practice of Institutionalized Systemic Moral Hazard that's playing out across the US: Public Private Partnerships, School Bond Fraud, Economic Development Commissions. The common nexus is fraudulent overvaluation & over taxation of property, annually increasing to cover up fraud.
Prepared to go bankrupt to support your school district that is failing in education & equity stripping your home & future via the outstanding fraudulent school bond debt? Let's repeal all property tax in favor of Uniform States Sales Tax, end the socialist nightmare, & feed those strangled by the socialists.
Please forgive bluntness of this letter. The Financial Stability Oversight Council Report December 2025 has a conclusionary fatal flaw especially regarding pgs 29 – 38 which has ramifications in other areas of Report: fraudulent property tax, school district accounting & bond fraud and related State & Federal crimes.
What's the connection between Bitcoin, Trading, Federal Reserve, the Texas investigation of over-taxation, socialism, the repeal of property tax, & Precious Metals... a Crisis of Confidence... loss of faith in ability to achieve goals or trust institutions, leading to feelings of doubt & uncertainty about the future.
Attorney General Ken Paxton Launches Statewide Investigation of Nearly 1,000 Texas Cities to Ensure Municipal Transparency and Stop Illegal Tax Increases. If you believe a municipality is in violation of Section 103.001 or 103.003 of the Local Government Code you may file a complaint.
The Press & Federal Reserve have stated that we are not in a recession. The evidence is the opposite. Any one of the 50 issues presented here is enough to cause a recession or major credit crisis... Existing laws are not enforced... Measures need to be implemented... Stop Institutionalized Systemic Moral Hazard.
Basics of economics are not being taught. Health care costs have exploded. Individual, Local, State, & National debt is at all-time highs. Property taxes are stealing equity. Risk of bankruptcy or loss of home is increasing. Restore Mom & Pop’s balance sheet. Repeal property tax, in favor of Uniform States Sales Tax.
Inflation, loss of purchasing power, debt, and fraud… The real national security risk is the 37.8% (42,000,000) households that are in harms way of bankruptcy or losing the roof over their head.
To expand on yesterday’s Trials & Tribulations of Advocacy for Permanent Change – Repeal Property Tax in favor of Uniform States Sales Tax, this Part II will tie several elements together that we all experience & prove up why we must individually & collectively advocate for permanent change.
What does it take to effect change for the betterment of society? Are you willing to learn to help your family and society? Does helping society have to cost you money? Can my family and I benefit by being involved? What can I do to help? What can I expect for my efforts?