At a fundraiser in Milwaukee on Monday, President Barack Obama said in a speech, “Let’s reach for hope.” Apparently hope is all he has left.
While he “inherited”—a word he loves to use as if the economic woes of the country came to him by surprise—an economy that was in freefall due to Federal Reserve interest rates set at near zero and government policies that benefited Wall Street and Big Banksters while absolving them of risk, he supported most of those policies while a back-bencher in the United States Senate.
Obama has officially been president for 19 months, and his economic team began working hand-in-hand with the George W. Bush administration immediately after the November, 2008 elections. Everything done subsequently that has created the almost $2 trillion deficit and deepened and prolonged the recession lays at his feet.
He can hope things get better before the November elections. He can hope his economic advisors will get a good surprise for a change. He can hope his (and Michelle’s) summer vacation continues.
Our hope is that enough awakened voters hit the voting booths in November to stop the train wreck that is Obama and a Democrat-controlled Congress.
While Obama urges his followers to reach for hope, right thinking Americans will soon be able to make a change.
Are you a fan of those sweet-smelling candles, air fresheners or scented plug-ins? You could unknowingly be releasing millions of toxic particles into your home. This could lead to allergies, migraines or nausea. Instead of masking unpleasant indoor odors with synthetic chemicals, open your windows or doors during nice weather and invite in a fresh breeze. For a natural way to purify your air, go green by placing a peace lily, Gerbera daisy, bamboo palm, potted mum or English ivy in your home.
It’s good to see civil disobedience making a comeback.
As NBC’s Washington, D.C., affiliate reported recently, a group of students who were members of the conservative Young America’s Foundation High School Conference were touring the Capitol in June. While visiting the Lincoln Memorial, the group spontaneously began singing the National Anthem when a U.S. Park Police officer tried to shut them down.
Rather than be intimidated by the fascist brown shirt on duty, a girl in the group is heard to say on the video, “This is America, we sing the national anthem. Who says on the Lincoln Memorial we can’t sing the national anthem, that’s what I want to know?”
The group then sang it again and, according to news reports, other visitors not part of the group joined in. The nonplussed and now greatly outnumbered brown shirted thug did nothing.
“The area they were standing in and singing is an area that is restricted for this type of activity,” U.S. Park Police spokesman Sgt. David Schlosser told NBC. “The United States Park Police is absolutely content-neutral when it comes to any sort of demonstrations in these areas.”
This is typical of the mindless, bureaucratic, zero-tolerance, politically correct garbage that has infiltrated government on all levels. And it’s time for Americans to stand up to it.
While a visit to a monument dedicated to the tyrannical dictator responsible for the death of 700,000 people, who shredded the 10th Amendment and accelerated the nation down this path toward oppressive government wouldn’t have moved me to break out in song, I can understand how a group of students indoctrinated with the sanitized version of America’s 16th President might be so moved.
Good for the students. May the rest of us have enough backbone to resist the oppression rather than just “move along” as we are directed.
Have you noticed how often the elitist “economists” in government, academia and the media are surprised by bad economic news?
They are constantly “surprised” by high unemployment numbers. They say the low manufacturing numbers were “unexpected.” They claim they didn’t “foresee” such a great trade imbalance.
When the Fed Open Market Committee met in June it said the economic recovery was “proceeding” and was likely to advance at a moderate pace. At the time they were talking of “tightening” monetary policy to fend off inflation.
Vice President Joe Biden has said we are in the “Summer of Recovery.” President Barack Obama has been saying his policies have “pulled us back from the brink of another Great Depression.” As recently as Aug. 2, Treasury Secretary Timothy Geithner, in an op-ed piece for The New York Times, wrote an uplifting column entitled “Welcome to the Recovery.” And he wasn’t being facetious.
He wrote that exports are booming, private job growth has returned, businesses now have strong balance sheets. But then he mentions his surprise.
“The new data show that this recession was even deeper than previously estimated,” Geithner wrote.
Still, he says, all economic measures represent an encouraging turnaround. He must have forgotten to tell that to the Fed.
Because the Fed’s had an “oops” moment. It has decided inflation isn’t an immediate threat after all, and they are “loosening” monetary policy again to try and stave off deflation and a second recession. But with the interest rate at zero there is little left to do.
Fed Chairman Ben Bernanke signals he fears a double-dip recession. The Fed decides it’s going to buy back debt. Buy back debt?
Fiat currency is debt. So the Fed is buying debt with debt. It’s shuffling money piles around. It’s taking money from one pocket and putting it in another. Meanwhile, the International Monetary Fund declares the United States is essentially bankrupt, writes Laurence Kotlikoff of Bloomberg News.
Reporting the latest “surprising” job numbers, The Wall Street Journal says the “government’s latest snapshot of the job market was bleak; a sign the economic recovery is running out of steam with 14.6 million Americans still searching for work.”
Or, as Tig Gilliam, the chief executive of the staffing firm Adecco Group North America told The Journal, “It’s a double whammy because it causes people to take a psychological step back. Now, it looks like not only has the economy slowed, but maybe it wasn’t as good when it was originally reported as we thought.”
On Aug. 11 the trade numbers came out. The U.S. trade deficit grew to the largest level in almost two years on rising imports form China. Imports increased to $200.3 billion while exports fell to $150.5 billion—a deficit of $49.8 billion. Most economists had expected it to be about $42 billion.
“This is spectacularly terrible,” Ian Shepherdson of High Frequency Economics told AFP news service, explaining that rising imports eat into anemic U.S. growth figures.
If they are constantly surprised by the results of their policies, could it be that they don’t really know what they’re doing? Or is it that they know and are lying while they line their pockets and the pockets of those who pull their strings?
“Ninety-three percent of the wealth is controlled by 10 percent of the nation. That means the rest of us are there to cut up the other 7 percent. We have 10 banks controlling 80 percent of the assets. It’s a takeover,” Gerald Celente of Trends Research Institute told radio host Alex Jones.
Congress expands unemployment benefits to 99 weeks—that’s five weeks shy of two years. Yet businesses that are now looking to hire are having a difficult time finding qualified workers.
At Mechanical Devices, which supplies parts for earthmovers and other heavy equipment to manufacturers like Caterpillar, Inc., co-owner Mark Sperry says he’s been looking for $13-per-hour machinists for months. His company’s sales would increase by as much as 20 percent if he could hire 40 workers, he told The Journal.
But trips to job fairs have been almost fruitless, he said, as many of the applicants he saw were just going through the motions so they could continue to collect unemployment checks.
Michael Hatchell, a 52-year-old mechanic in North Carolina, told The Journal that he’s turned down more than a dozen offers during the 59 weeks he’s been unemployed because they didn’t pay more than the $450 a week he collects for unemployment. One auto parts store offered him $7.75 an hour.
“I was not going to put myself in a situation where I was making that small of a wage,” says Hatchell.
This sort of thing is happening all over the country. Many people used to making $50,000 to $60,00 a year aren’t willing to take a job making $30,000 to $40,000—and then get deducted taxes plus have to buy gas and maintain a vehicle—when they can draw $23,000 per year sitting home… and do it for almost two years.
The Federal government, of course, can and does print money to infinity. So it has no problem paying government workers huge salaries. According to recent reports, Federal civil servants earned an average of $123,000 per year in salary and benefits in 2009. By comparison, private workers made about $61,000. And the Federal payroll continues to grow.
States, counties and municipalities aren’t so lucky. They must live within their means—or are supposed to—and many are being forced to slash millions from their budgets. Since payroll is usually the biggest expenditure most are looking at cutting jobs.
So Congress, in an election year vote-buying scheme, votes to print more money and pass it along to the states in order to save those state jobs. Who gets the money? Teachers, firefighters and police… each with unions that were among Obama’s—and the Democratic Party’s—biggest supporters.
What Obama and Congress are doing is creating an ever-growing dependency class of government workers and government handout takers. Take a look at what happened in Atlanta last week.
Thirty thousand people showed up to get Federal housing assistance through the Section 8 program. They stood in lines for hours in the sweltering heat. Many passed out. Others were hospitalized for heat-related symptoms. Fights broke out and the riot police had to be called in to restore order. All for a little housing assistance. They are a reminder of two women interviewed in the aftermath of Obama’s inauguration who proclaimed Obama was going to take care of them—pay for their mortgage and provide them with a car—from “his stash.”
But Obama’s stash isn’t yet empty. He is now providing $3 billion to unemployed homeowners facing foreclosure in 17 states with higher than average unemployment rates. Another $1 billion will go to the Department of Housing and Urban Development to provide homeowners with emergency zero-interest loans.
California will get the largest share–$476 million. Florida will get $239 million. Illinois will get $166 million and Ohio will get $149 million. That’s 123 blue-state electoral votes—almost half of what Obama will need to win re-election in two years… should the country still be around in its current form.
Celente, who in 2007 predicted the 2008 crash and is one of those who is not constantly surprised, is predicting another crash—and another war—before the end of 2010, saying it’s not going to be a double-dip recession but a continuation of the current one… the new Great Depression. Last week’s news out of the Fed that it’s buying debt with more debt is an indication the death spiral has begun.
Even the mainstream media is beginning to recognize what’s going on and some stories are starting to talk about a second Great Depression.
The flow of money out of the Fed will stave off the crash for a time, but the regime is gasping. Celente says it’s too late to stave off the ultimate crash.
“America today looks like Russia in 1998,” Jochen Wermuth, chief investment officer at Wermuth Asset Management, said on CNBC. “Consumers, companies and the government are all highly indebted. America as a result is a bankrupt Mickey Mouse economy.”
With the Fed printing fiat currency to infinity, one would think any Mickey Mouse economist could see it coming.
In 1995 Representative Maxine Waters (D-Calif.) took to the floor to excoriate then-House Speaker Newt Gingrich (R-Ga.) over accusations that he had violated ethics laws.
Now look who’s in the hot seat. Waters herself is now headed to a public trial after the House Ethics Committee (now there’s an oxymoron) charged her with violating House rules.
She’s accused of intervening with Federal regulators on behalf of a bank in which she and her husband have substantial investments, and where her husband once served on the board of directors. The bank was one of the weakest to receive funds from the Troubled Asset Relief Program.
Maybe now we’ll find out who Maxine Waters really is.
Regardless of where you come down on the gay marriage issue, that a single unelected Federal judge would overrule the wishes of the majority of Californians should frighten you.
Proposition 8 was put on the California ballot in the November 2008 election, five months after the California Supreme Court legalized gay marriage.
Almost 80 percent of the California electorate voted and the measure—which provided that only marriage between a man a woman is valid or recognized in California—passed with 52.24 percent of the vote. It passed by about 600,000 of the 13.4 million votes cast. And it came in an election year that saw Democrat Barack Obama garner 61 percent of the vote, or more than 8.27 million votes in California.
U.S. District Judge Vaughn R. Walker ruled that the gay marriage ban violates the Constitution’s due process and equal protection clauses while failing “to advance any rational basis in singling out gay men and lesbians for denial of a marriage license.”
As Geopolitical Editor Chip Wood discussed in his article two weeks ago, Don’t Believe This Liberal Lie, the Founding Fathers intended for states to settle their own issues locally. Citizens were free to shape their state’s politics to suit them. If that didn’t work they were free to move to another that better suited them politically.
What has happened is far different, and the Federal courts are becoming the oligarchy Thomas Jefferson warned us about when he said, “[T]o consider the judges as the ultimate arbiters of all constitutional questions… would place us under the despotism of an oligarchy.”
Jefferson also wrote, “The germ of dissolution of our federal government is in the constitution of the federal judiciary; an irresponsible body, (for impeachment is scarcely a scare-crow) working like gravity by night and by day, gaining a little today and a little tomorrow, and advancing its noiseless step like a thief, over the field of jurisdiction, until all shall be usurped from the States, and the government of all be consolidated into one.”
Vaughn’s ruling is yet another example of an unaccountable, unelected Federal judge overstepping his authority, advancing as a thief, consolidating all government into one.
The chair of President Barack Obama’s White House Council of Economic Advisors quit last week, the day before the elitist no-nothings in charge declared their “surprise” that 130,000 more jobs were lost in July.
That chair, Christina Romer, said she was headed back to Berkley and her spot in academia where she can pour failed Keynsian economics into the noggins of another generation of empty-headed college kids so they can move on to highly-paid government jobs where they can manage (ie., wreck) our economy at some future date.
Romer is the clueless neo-Keynsian who drafted the February 2009 report “The Job Impact of the American Recovery and Reinvestment Plan,” which the White House touted in its efforts to pass the $1 trillion stimulus bill. It was upon Romer’s report that the fascists trashing our economy based their predictions that if Congress passed the stimulus bill unemployment wouldn’t rise above 8 percent and would be dropping by now to around 7 percent.
There is no end to the folly that the de-stimulating stimulus bill has wrought. Not only has unemployment consistently remained at 9.5 percent and above, but hundreds of thousands of additional potential workers have just given up looking. Some analysts say the real unemployment rate is above 15 percent.
Senators Tom Coburn (R-Okla.) and John McCain (R-Ariz.) have released a report highlighting the folly of the stimulus spending. On the list is $554,760 for the Forest Service to replace windows in a closed visitor’s center at Mount St. Helens, $762,372 to create Dance Draw interactive dance software, $62 million for a tunnel to nowhere in Pennsylvania that the state’s Democrat Governor Ed Rendell called a “tragic mistake,” $1.9 million for international ant research and $308 million for a joint clean energy venture with BP.
Tragically, there are many more just like these. And what’s worse, the money that didn’t go to this type of foolishness was used to pay off Obama’s union thug supporters like the Service Employees International Union.
Seeing no end to friends deserving to be paid off, House Speaker Nancy Pelosi (D-Calif.) called House members back from their August recess vacations on Tuesday to print more money and hand it over to the teachers, police and firefighters unions in the guise of a $26 billion state aid bill.
Meanwhile, Obama was out doing the one thing he does well, trashing his predecessor and his “disastrous policies.” He conveniently leaves out the fact that he voted for many of former President George W. Bush’s disastrous policies and has since ramped them up to infinity.
But is it surprising? After all, all government economists were trained under the same Keynsian theories and none of them saw the recession coming to begin with. They see improvement where there is none and are continually “surprised” by the bad news.
However those who saw this crisis coming, folks like Mark Faber and Gerald Celente, are warning about the second leg of this crash. And it’s going to be worse than the first.
Continuing to print fiat money in order to prop up the failing system is a doomed policy. The crash is coming, dear reader. Don’t be surprised.