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Snap Back: Stock Crash!

August 10, 2011 by  

Snap Back: Stock Crash!

Stock indexes went postal on Washington’s debt deal celebration. Last Thursday, the Dow Jones industrial average declined more than 500 points, its worst setback since the Crash of 2008. Then on Friday, Standard & Poor’s downgraded America’s debt from AAA to AA+. In response, the market suffered an even greater setback on Monday, with the Dow Jones industrial average falling 643 points.

The sky is falling. If you don’t believe me, check what happened to the stock market just last week. American stock indexes vaporized $2.5 trillion in assets over five days last week, and the likelihood of a crushing depression now looms large. The only good news out of any of this is that Congress — that useless bunch of imbeciles — has gone on vacation. Good riddance.

The world is waking up to the reality that President Barack Obama and Congress have agreed only to waste more of our money. Investors get it: America is a runaway train headed for bankruptcy. Traders finally understand that Obama’s vision of Big Government is grinding the world’s greatest nation into a second-rate power at best. America, with all its debts, is being stretched past the breaking point.

Congress needs to own up to some of this mess. Just scant hours before the deadline of deadlines, Washington voted to pass a bill that would raise the U.S. debt limit by at least $2.1 trillion and cut spending by about half that amount over the next decade… or so says Washington.

This has created a big stir with the popular media, yet the government has not done its job. All this hubbub, and Big Government (just the way the Democrats want it) goes on.

But Republicans share some of the blame. The useless agreement involved wrangling, threats and even name-calling by our elected officials. The only reduction in deficit spending set in stone, for now, calls for the government to trim $900 billion in spending during the next decade. Other cuts may be made, but it is uncertain under the agreement.

Put that in perspective: Concrete spending reductions amount to $90 billion per year. Washington is expected to spend roughly $1.4 trillion this year, which it can finance only by further borrowing. These so-called cuts amount to only about 6.4 percent of the current deficit.

It is like a gambler who promises his wife to blow the family paycheck only at a discount resort in Lake Tahoe rather than Caesars Palace in Las Vegas. Remember, the Federal government has promised to reduce spending more times than Charlie Sheen has promised to quit smoking crack.

The U.S. dollar continues to slump while gold has reached all-time highs, prices that were incomprehensible a couple of years ago. The once-unassailable U.S. dollar is sitting on death row. Washington has given it only a short reprieve — and judging by the reactions of the stock markets, a very short one at that.

Equity investors finally understand that the cinching sound they hear every time America raises its debt ceiling is the sound of impending doom.

I know from experience that all things — from debt to barbed wire — can be stretched only so far.

A Tale From The Prairies

I will never forget my days repairing fences with my dad. We stabled horses and always kept an eye on the fences. We would secure them with barbed wire.

Loose wire could maim a horse, so our job was straightforward: Find and tighten any loose wires between fence posts.

We stapled the barbed wire tightly to each post, then moved on to the next one. Dad would then attach the wire stretchers, a jack-like device through which the barbed wire was threaded and then advanced. The key to the operation was to have the wire as tight as possible without causing it to break.

At each post Dad would start cranking the wire stretchers. At first, there was no noticeable change in the slack of the wire. Slowly, each crank would pull the wire through the stretchers. Within a few minutes, the wire would become taut. Then, I would staple down the wire, and we would move on to the next post.

My dad was a perfectionist. If the wire would take three more cranks, he was determined not to stop after one or two. Like anything, you can stretch something only so far before it snaps.

I could always tell when we reached that point, because the wire would start to give off a low humming sound.

That was my cue to step in with a hammer and staple. Sometimes, he would wave me back. “Let me give it a few more tugs. I want to make it tight.”

He would crank again. By then, the wire would be humming like a fluorescent light. That was when I knew to step back. Crank… snap!

At the weakest point between the two posts, the wire would snap. This threatened life and limb, because barbed wire was racing in opposite directions at breakneck speed.

I wish that more members in Congress and the President had put in a little time farming. If they had, they might understand that things can be stretched only so far before they reach their breaking limit.

Instead, our leaders are blissfully ignorant of their massive spending that continues today and every day.

Perhaps the debt ceiling should not have been lifted. Perhaps America should have experienced default. Only our mistakes teach us life’s hard lessons. And I am willing to bet that most of our government officials have never had to face tough lessons. In my opinion, that makes them poor leaders. They are sending America off in the wrong direction, one that will eventually end with a catastrophic result.

Raise And Call

There is an old saying that after you have been sitting at the poker table for more than 15 minutes and you are still looking for the patsy, you’re the patsy.

I am an American living in Canada, a nation best known for its beer and hockey. A decade ago, the Canadian dollar (“loonie”) traded under 70 cents to the greenback. It is now worth $1.05.

This speaks volumes about the mess Washington has made over the past 10 years and portends dark days ahead.

Yours in good times and bad,

–John Myers
Editor, Myers’ Energy & Gold Report

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

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  • FreedomFighter

    Stock investors report record number of snake bites.

    Laus Deo
    Semper Fi

  • http://cordleycoit.com swm carson

    fine piece ‘o work! does it matter which ‘brand ‘o snake’ bites us? i’d sooner turn loose a burlap sack of serpents in the lane in front of the place before welcoming these poisonous congresscreatures into the neighboring place! D2NWO scar 101st ABN ’63-’65

  • jay Lindberg

    I do believe the government had to go into default before it gets fixed. A few years ago a bureaucrat even to me as much, “Jay, I guess it will have to go bankrupt before it gets fixed.”

    We needed responsible legislation (Like that’s going to happen) a lot more than more money for hole digging equipment.

    • EddieW

      Jay, I sure hope it don’t go bankrupt…at least right away!! It would help me immensly if it could hold off a couple years, but I will survive very well at any rate!! I honestly believe that Obozo, our Liar in Chief is trying to destroy this country, and I don’t think he needs another term to do it!! we know for sure that if his lips are moving, he’s lying!! oh yeah, also blaming!! The economic troubles are the fault of the Japan Earthquake!!! Utterly ridiculous!!!
      Then it’s the tea party Blame someone else or give them a new name…Racist…EXTREME etc.!! That’s all the Liberals have!!

      • DurangoKid

        Obama bin Lyin’s job is done here. He was sent in by George Soros to set the U.S. up for ultimate failure and bankruptcy. Since it’s well on it’s way, now he can go vacation in Martha’s Vineyard AGAIN ! How many EXPENSIVE vacations does a useless president get anyway? This empty suited, anti-American, anti-capitalist, racist, job destroying, muslim-loving, gay promoter, and general piece of shiite is INTENTIONALLY destroying our country. Hope all the libtards are happy because you also will live in a 3rd world country…idiots!!

      • James

        Gerald K. C’mon, we were headed for bankruptcy, while Obama was still in Illinois. The U.S. has been operating on credit for decades, and by that I mean individuals, cities, states and the federal government. Until those debts are canceled or paid for, we will continue our slide into a depression. All the negatives that got us into this fiscal mess are still there, and until that changes, there will be no recovery regardless who is in the Oval Office.

  • http://www.chandostransport@eastlink.ca Graeme B

    I blame the idiots who voted to never increase taxes. The stock markets and hence the world trading nations know that when you decide to cut social security and medicare, that this will most definitely lead to double dip recession, if not depression. I see depression because these morons have decided that the top 5% who are receiving the tax breaks that cost the Treasury $800 billion in borrowing costs due to lost revenues, should not be taxed to help balance the budget. It is basic economics.
    You mentioned Canada’s loonie being at $1.05 where it used to be .75c to the USD. Canada, in 1993, after a profligate spending spree by a Conservative government, had it’s rating downgraded to AA. The subsequent Liberal government with Paul Martin as Finance Minister, implemented spending cuts across the boardbut he also increased taxes to help pay for the deficits. Canada’s Social Security called Canada Pension Plan, was projected to be bankrupt by 2015 so premiums were raised to actuarialy compensate for the shortfall and the result is a CPP that is stong into 2035.
    By 1997 Canada was in surpluses and has been until 2008 when the now Conservative government has cut taxes and increased spending with the resulting record deficits. Sounds very familiar, doesn’t it
    Until Congress brings balance back where you do increase revenues but with judicious and thoughtful cuts, the haemoraging will continue with further downgrading by the rating agencies. They see the idiocy of the past month for what it really is, pure politics and stupid politics at that, because it is going to bring down the whole system and it will be Congress’s fault, not the President. Without the stimulus implimented by GWB and continued by Obama, where do you think we would be NOW?

    • Ellen

      Graeme, The reason the tax cuts were extended for all is that our economy is based on consumer spending (70% of our economy). Consumers can’t spend what the govt has taken in taxes. Of the top 3% of earners, 95% are small businesses. Small businesses have created 90% of all jobs since 2006. So, taxing the ‘rich’ would effectively kill our economy. It’s just a popular class warfare tactic to make middle class people think they’re getting cheated and the rich get all the tax breaks. It’s complete hogwash. Our govt’s definition of ‘rich’ is also about 80 years old. No one making $200,000 per year is a millionaire or billionaire. They probably live in a large city where wages are high because expenses are high. Our govt takes in plenty of tax money and the rich pay more than their fair share. One of our biggest problems is the 50% of wage earners who don’t pay taxes and actually collect from the govt. Another substantial problem is the inefficient spending/waste/fraud in our govt. If we really want to increase taxes, then everyone should get a tax increase, including the non-payers. It’s quite foolish to think the top 5% could pay more and get us out of this mess.

      • Elevenarrows

        Ellen,

        Amen! I wish you could go to Congress and explain it that clearly to them, but they wouldn’t listen…they are drunk on their own importance and infallibility.

        Our company is in the banking industry and we took a hit three years ago when the gov’t decided to tell banks what to do. We are not a bank, but banks are some of our largest clients. We are living off 1/3 of the income we made before the economy tanked. As a family, we had to sit down with the kids and look at things we could eliminate. The kids picked up odd jobs to help out. We got rid of anything that wasn’t absolutely necessary. Unfortunately, we even had to decrease the donations we were making to worthy causes including friends of ours who are missionaries in Ecuador. We have had to cut spending until it hurts…no dental cleanings this year, no new tires on the trucks, no professional hair cuts…I’ve even darned kids’ socks!

        It infuriates me that Congress and the White House cannot grasp that this is the reality for many American families. We want foreign aid to be drastically cut or eliminated altogether. We want no more crazy spending/entitlements such as Obamacare that are guaranteed to drive us further into bankruptcy. We want funding to organizations like Planned Parenthood to stop. We don’t want to buy computers for mosques around the world. We want all spending except what is absolutely necessary for the defense of the nation and smooth operation of her infrastructure to stop. A monstrous centralized gov’t is exactly what our founders fled from and feared re-creating. Until Congress cuts spending to the extent American families are having to and until lazy Americans living off of the rest of us realize they are destroying our once-great nation, nothing will stop our downward spiral. May God have mercy on us all…because that is the only thing that can save us now.

        • OB1

          Yes, pray for God’s mercy daily, many times. Also, please google Ron Paul. His voting record is consistent. The problem is the Federal Reserve. It is NOT a division of the US government. It is a private corporation controlled by Wallstreet bankers as well as International Bankers and elites. There are Republican and Dems both involved in this mess for YEARS. People are finding out one by one.

          • slayerwulfe

            If God were going to save us, that entity would have done so already,
            sorry children were on our own, sounds ominous.

          • Marten

            Just tell it like it is. The ”Fed” is owned and controlled by the Zionist Jews. It is a foreigh Entity…it controls our Economy…

      • Libertarian

        Prior to G.W. Bush comming on the scene, the US was set producing SURPLUSES and was projected to do so for ever from there on. By 2010 it was projected to have over $7 trillion in surpluses!!! All of that was before he gave his buddies tax-breaks, which if you made $100 million a year amounted to $25 million and if you made $20,000 a year, amounted to approx. $500 a year!!! You do the math and see who is responsible for the current situation!!! And that is before the two ILLEGAL wars (based on the 9/11 Inside Job scheme) are counted in!!!!!!

        • Jeff in OH

          You can tell by the post, who pays taxes and who are the freeloaders. Taxpayers think their being robed, and they are… Non taxpayers want it raised to keep their lazy ass from working.

        • jibbs

          Nothing last forever except, overspending, tax raises and welfare….I don’t think you have to worry.

        • Ellen

          Libertarian, You are confusing taxes for earned income and for capital gains. If someone earns $100 million, he is currently in the 35% tax bracket (was 39% under Clinton because he raised taxes). If he makes $100 million from capital gains, he pays 15% tax on that. Capital gains are moneys from investing money that was already taxed once when it was earned. That’s why it was lowered. Most of us don’t have capital gains because every investment we’ve made has depreciated, but some people still do. Of course, the rich will have more capital gains because they had more money to invest. If Warren Buffett made $100 million in capital gains last year and pays $15 million in taxes, don’t you think he has paid his fair share? Does he get extra services from the govt for that extra tax burden? No. Why do people think he is morally responsible for even more in taxes?

        • Karolyn

          Ellen – Buffet WANTS to pay more taxes. Had you not heard about that. A TRUE patriot wanting to give back and be on equal footing with the ratio that the “little people” pay.

          • Warrior

            Right? That’s why he pays himself a token salary of about $100K. All these people that urge someone to tax them more just don’t seem to be able to bring their checkbook to the announcement that they should pay more taxes. Nothing is stopping anyone from paying more. If they believe they should pay more go right ahead.

            So genious, why aren’t they doing this?

          • independent thinker

            If Buffet wants to pay more taxes there is NOTHING stopping him. All he has to do is refuse to claim some of his deductions. So far I have not seen that happen.

      • bob wire

        The rich is not in anyway, shape or form “small business” .

        But you are right, small business is the job creators and do not need to be subject to more taxes and regulation today.

        An income of $125, to 165,000.00 dollar is not “rich and wealthy” , that needs to be understood. It’s just a very good earning.

        $75,000.00 is good earnings if your dependent burden is light, say one or two children. You throw an aging parent in the mix and $75,000.00 per year is struggling.

        At least that’s the way it works for me.

    • Brian

      We are not heading to a double-dip recession. The last recession ended June of 2009. A double-dip occurs when there are one or two quarters of growth followed by negative growth. We are headed to an all new recession and this one has Obama’s name all over it.

      • ValDM

        Brian,
        You’ve been listening to too much mindless media & the DC dolts. The recession NEVER stopped in 2009–it’s still going strong. And with this latest chicanery over the debt ceiling, is here to stay & stay & stay, just like the Energizer Bunny.

        I can hear the socialists rubbing their hands together & chortling over what they’ve done to the American taxpayer. We’re being financially raped without even being kissed, and it will only get worse. Socialism isn’t about “sharing the wealth”, but instead is ALL about sharing the poverty. The only ones getting wealthy out of this swampy mire is the ones who did it to us.

        • Old Henry

          ValDM:

          Ya hit the nail on the head. Poor Brian is gonna have back truble ifn he doesn’t pull his head outta he rectal socket.

        • OB1

          Thanks Val, spot on.

        • bob wire

          “I can hear the socialists rubbing their hands together & chortling over what they’ve done to the American taxpayer.

          That might make sense if they “were not” American Tax payers as well. But they do, just like you and doubt if they are any more socialist then you.

          If you are not claiming or perceived to be some hybrid socialist what is your claim? Capitalist? That went out the window with bail-outs, Public losses and privatized gains.

    • fundamentalattributionerror

      great post Graeme! Thanks for sharing your thoughts.

    • DaveH

      The real idiots are those who still haven’t learned that when Politicians get more money, they spend more money.
      It’s the spending that is the problem:
      http://www.cato-at-liberty.org/canadas-spending-cuts-and-economic-growth/

      • bob wire

        Seems to me, we’ve not learned they can spent it without even getting it !

        They don’t have to get it ~ that’s a huge problem.

    • Toomuchsense

      Graeme B, your wish for higher taxes is ignorant for sure. And likely hypocritical too. Are you even the one in two, or to put it another way. The 50% that even pays federal taxes or are you in the group that does not pay, but wishes to raise taxes on the 50% that do. When I pay another dollar in taxes, I spend less at the local diner. Leaves the waitress without a tip. The diner owner with less income, likely less need for employees. The diner does not replace business property as often, along with his personal property. It’s that thing called less money. Less money to spend. The waitress has less to spend on her household, and her children. The entertainment center loses money, as the waitress can’t take her children to those entertainment centers her children would like to go. Because I didn’t order that ruben with fries and a large drink, and leave that tip. Graeme B, you’re a thoughtless person. A compainer, not a doer. Most lib’s have trouble reaching in their own pocket to help others.

    • Old Henry

      Graeme:

      When the h*ll ae your kind going to get it thru your thick communist heads that IT. IS. NOT. THEIR. MONEY. It is the property of those who EARN it.

      I’m guessing you are one of those sucking on the government teat that is continually filled by the worker bees.

    • Christine

      If we taxed the millionaires and billionaires 100% of their income, we couldn’t balance our budget, so obviously the primary way to balance the budget is to cut spending. Most of what the Federal government is doing is unconstitutional. If we eliminated all of the unconstitutional departments, we could easily balance our budget and even cut taxes. The other thing that would help our economy would be to totally revamp the tax code. Either eliminate all taxes and replace with the fair tax or eliminate all taxes and replace with a simplified income tax. (All sources of income) – ($7000 per adult) – ($5000 per child). Everyone pays the same tax rate. Businesses and the government waste so much money complying with our complex tax code, that this would instantly turn the economy around even if the total taxes collected were exactly what they are now. So many are constantly saying tax corporations, but you can’t tax corporations. When you tax a corporation they either raise their prices (effectively taxing individuals), they leave the country (reducing jobs), or they go out of business.

    • http://Moreexpensive,moreunknowproblems. Lewis Munn

      How has the Stimulus helped?

      My SS check, if I even get one now, does not go as far; all I see is the steady rise in coast of fuel and food, and I can no longer afford some of my medicines. Do without. No longer can afford to go to the clinic. Do without.

      Everything the government seems to do these days winds up with something more, basic to living, I have to do without.

      Stimulus, Plimulus. Give ME the stimulus, cash in my pocket, not the big corporations or the unions or the political parties or our good friends in communist and muslim countries.

      • bob wire

        well, for the best or worst of it, the stimulus did go largely to government, it bought time for people and local governments to make changes and cushion the blow.

        It was said about 12 months ago that the effect of the stimulus would dry up mid to last summer of 2011. And sure enough that day is upon us.

        So have you prepared and used the time to get your house in order?

        If you did, the stimulus worked and if you didn’t it didn’t.

    • JimO

      GraemeB: So you paid more taxes than what you originally sent in? You made a donation to erase the debt? No? Then don’t be asking to raise anyone else’s taxes until you do. Otherwise, you become just another hypocrite.

    • Jeff in OH

      I’ve always said ” The demacraps are the party of the stupid, and I’m proven right whenever I look at any Blog…

      • bob wire

        So what is your plan with all of your collected “rightness” Jeff in OH?

        You plan on jumping up with a fix, ~ then why so late with it’s coming?

        Have you been holding out on us?

    • jibbs

      I found two politicians over six feet slithering accross my property today…….they looked like black snakes!(no pun intended)

    • Void1972

      After the coming revolution in America, we the victors should send all of the surviving liberals to Canada and Mexico where they belong!

  • Warrior

    Rasmussen poll shows that 70% of the polled do not believe the guvmint has the consent of the governed. Now there’s change you can believe in!

    • Old Henry

      Warrior:

      I HOPE that in a year we have any CHANGE left…

    • http://Moreexpensive,moreunknowproblems. Lewis Munn

      I agree. I cannot even see pocket change anymore.

      More month, and the money doesn’t go as far anymore. And no more COL adjustment, but the threat of a squad out to change my mental outlook, permanently.

      That is a change I do not need, or like the threat of.

    • bob wire

      That would be most alarming if it didn’t come from Rasmussen poll. They are little more that guns for hire by Ruppert.

      • JeffH

        Is that so, and you know this how? Oh, that’s right, a little bird told you. Can you remember which ear the bird whispered in? If I were a betting man, I’d bet it was the left ear!

        Warner Brothers need you bobby…Warner Bros. plans to launch a website early next year that will allow users to interact with its cast of animated characters, create personal profiles and watch original online episodes as well as write new stories.

        • bob wire

          No jeff, their track record of being accurate ~ they have one you know, since they have been in the crystal ball business for several years now and been quit active.

  • Danny Kirkpatrick

    I was raised on a farm in the mountains of North Carolina. My uncle who raised me and i stretched a lot of barbed wire and i know full well the sound it make before it snaps. The American economy is making that sound right now, soon it will snap and America will fall into a great depression, WHY? Because of political greed and political power? I implore ALL Americans to wake up and get involved in what is happening or one day you will wake up and find your self in ” The Socialist States of America”, and ALL your God given rights will be GONE.

    • Lost in Paradise

      Danny we are currently in the middle of that very transformation you speak of. America IS being transformed before our very eyes. It is happening NOW, not in the future. The USSA is now being formed!

    • OB1

      Ron Paul 2012. The Federal Reserve is NOT a division of the US Government!!! They have control of the PRINTING of all money! They have to be audited and stopped! Please Many Repubs and most Dems are into this scam too. The are bought off and beholden to corporate and bankster elites.

    • David

      What god given rights? We have only the rights we claim and exercise. Stop looking to sky fairies to give you what you should be fighting for yourself.

  • Bert Cundle

    WALL Street… Sunset strip Los Vegus! Insiders with an edge… But anyone could have predicted the Fall & Rise of the Stock Market! That is what it does!!!

  • Jay

    It doesn’t take a genius to figure out what the “evil genius”, obama and his administration, the previous evil administrations, and all the evil minions in tow are up to. Step1. Deliberately bankrupt the country. Step2. When all the shareholders, investors, debt holders, and criminal banksters pull out, call in their loans, sell their stocks and shares, then, the country can be purchased for a song. Step3. Enjoy the fruit of thy labours!

  • TIME

    Don’t worry be happy! Have drink, the DIXIE CUPS comand you too!

  • Ivan

    When a paper pushing organization like S&P can exhibit more clout than the US government ( and that is what we have just witnessed) we need to think about how we can change the government into a body that represents “We the People” . I hear “Tax the Rich” everywhere I turn here in Illinois. I say everyone needs to be engaged as a taxpayer, and that our tax code needs to be drasticly reformed to make sure that everyone does. To answer Graeme B’s question (Without the stimulus implimented by GWB and continued by Obama, where do you think we would be NOW?) I have to respond I don’t know, but We the People would not be saddled with 1 trillion $ in debt. Our government spends way too much of our resources helping the “Bad Actors” in our nation and does nothing to promote productive behavior. If the government is your saviour we don’t need you.

  • Dan az

    This was the only way that He could piss off the rest of our allies by breaking them the same as he has done here.How else can you make more enemies with out bombing them?He know sooner did that then went on to play another game of golf.Does he still carry his blackberry around?

  • Don

    While everyone is jawing about how incompetent president Obama is no one seems to be looking into his real intentions. Google, Richard Cloward and Francis Pevin. See the articles they have written about how to bring down a government by overwhelming it with entitlement spending. Then Google, Sal Alinsky and read about his book on “Rules for Revolution”. He outlines ways to incite the masses to revolt. Then Google Keynesian Economics. Put together the principles that these people have advocated then Google Obama and see that he is and has been an avid student of these principles. If you connect the dots you will see that this administration is relentlessly trying to put them all together. Implement the whole package to CHANGE America dramatically. This has been going on since the days of FDR but was accelerated exponentially when Obama managed to get into office. Wake up people. Look at what is really going on. Obama incompetent? Maybe more like cunning.

    • Brian

      It’s Francis Piven, not Pevin, and Saul Alinsky wrote Rules for Radicals, not Rules for Revolution. And yes, that is exactly what they are doing.

      • http://Moreexpensive,moreunknowproblems. Lewis Munn

        We need a million American march. Unfortunately, I cannot afford to go. Can hardly afford to get to town!

        Wonder if we could get a million Americans to march around the Capitol once a day for 6 days, and on he 7th, march 7 times around the Capitol grounds…maybe things would come crashing down?

        Or would we not be treated as well as illegal aliens???

        • Jeff in OH

          Lewis, We Don’t need to march around the capital for it to crumble like Jericho. It’s crumbling on It’s own weight of debt

    • Elevenarrows

      I agree, Don, but I don’t think he is the brains behind the agenda. I think there are puppet strings…what concerns me most is that even if he is defeated in the next election, there are so many others with the same agenda that most likely, the efforts will continue. Too many Americans refuse to give up the freebies and those same freebies will destroy life as we know it. We need the potato chip-crunching, don’t block the TV, I can’t vote because I’ll miss Survivor people to get up and get busy trying to help the rest of us delay the inevitable.

      • http://Moreexpensive,moreunknowproblems. Lewis Munn

        I think I missed something. Where does one get all those freebies?

        • Jeff in OH

          You must become a Demacrap first, Then all things will come. Join the Demacrap religion and live beyond your wildest dreams and means

    • JeffH

      Don, you might be a bit off on the names but you’re dead on the ideaologies. Right on!

      Sal Alinsky = Sol
      Pevin = Pivens

      • JeffH

        oops, my bad…Saul not Sol…

        • Old Henry

          Those keebords have really been busy mis-spelling things today!

          • JeffH

            OH, gets us all… :)

  • Joe America

    Please note that this overspending is by design and not by accident. This nation is being brought down from the inside, by the Federal Reserve, the Council on Foreign Relations, the United Nations, Wall Street and all the central banks in Europe and the USA. Why? Because these folks want a one world government. The only thing standing in their way is the US Constitution, which has already been hobbled by the renewal of Patriot Act II. Their goal is to bring the USA down, because if that happens, there will be no one left to stand in their way. If you believe I’m kidding, or crazy, look for the following to happen, soon:

    1) Your dollar: Worthless.

    2) Martial Law will be declared to protect us from rioting in the streets.

    3) Guns: Taken away from the people.

    4) If you stand up against them: FEMA camps will be your new abode.

    History repeats itself, over, and over, again. The bottom line is that there is a small, but powerful elite that wants to return the world to, what they see, as a simpler time, when there were a small number of god-like Lords and Ladies who welded absolute life and death power over their surfs (us). This is their agenda and this is where we are headed.

    Everything presently occuring is simply smoke screens to divert our attention from the goals and machinations of the new world order.

  • Raggs

    I have to ask… Does the investors money just “Vanish” into thin air or maybe an empty pocket?

    Somebody is making a killing off of manipulating the stock market… Hummm wonder who that could be…. If the market is expected to take a dive everytime oblama screws up ( and it does just that ), well lets just say that the market will resemble a ping-pong match with apes at the table.

    • DaveH

      Traders can’t make money unless there’s turmoil. They don’t care if prices are rising or falling, as long as they are not staying stable.
      We wouldn’t have this instability if not for Big Government and the Federal Reserve. Ironically the Federal Reserve was pitched to the voters as a way to increase stability, but just 16 years later we had the Great Depression which lasted for over 10 years. And now this.
      We need to Shrink the size of Government, and we need to abolish the Central bank. And we, the voters, need to get educated to the fact that Leaders are concerned mostly about themselves. I mean, why not? Aren’t most of us concerned mostly with our own lives? Once enough people catch on to that simple fact, we can wake up to the fact that Big Government is not going to be the solution to our problems.
      And it’s time for people to realize that the Republicans aren’t going to do the job. Witness how even most the “tea party” Republicans caved to the political pressure in the debt ceiling battle. They were afraid of being blamed for the necessary pain of shrinking Government. But they were blamed anyway (of course), so what’s the use of taking the cowardly route? And then there’s always the possibility that those who caved really didn’t want to downsize Government, and just needed a convenient excuse to avoid it.

      Vote Libertarian, the ONLY political party with the Principles to get the job of Shrinking Government done:
      http://libertarianparty.org/platform

      • Dan az

        Well said Dave!
        What is it going to take to get people to understand that the libertarian party is what they are looking for?Don’t they realize that the founding fathers had it right the first time?Why then do they want to change it by only voting for the lesser of two evils?I would like to ask everyone here if they have ever even looked into the libertarian beliefs,these are the only ones that protest the two headed snakes that are only in it for their own good not yours.Look even the dems are starting to be concerned that this is not going to last much longer and the repubs are trying to use the tea party to mask their greed,So what is it that your all afraid of by voting the constitution upholders that only want the same thing as you do?Smaller gubmnt and free markets and the rights that they are stealing from you to be returned to what they once where?Come on people its not rocket science vote with your brain instead of your wants and needs before its to late if its not already!

        • http://Moreexpensive,moreunknowproblems. Lewis Munn

          Beats starving for a living!!

          And they sure beat the tar out of the DemoPublican party, in concepts and intentions!

          There a a few other good ideas in minor parties worth voting for, alaso. Unless you like being sucked down the tubes!

      • JeffH

        Obviously there are some turncoats amongst the Tea Party Caucus who should be weeded out, but here is a list of the Tea Party Caucus who stood fast and voted against raising the debt ceiling.

        It is as important to note who voted “NO” also.
        ■Todd Akin, R-Mo.
        ■Michele Bachmann, R-Minn.
        ■Rob Bishop, R-Utah
        ■Paul Broun, R-Ga.
        ■Dan Burton, R-Ind.
        ■Jeff Duncan, R-S.C.
        ■John Fleming, R-La.
        ■Trent Franks, R-Ariz.
        ■Phil Gingrey, R-Ga.
        ■Louie Gohmert, R-Tex.
        ■Tom Graves, R-Ga.
        ■Ralph Hall, R-Tex.
        ■Vicky Hartzler, R-Mo.
        ■Tim Huelskamp, R-Kan.
        ■Steve King, R-Iowa
        ■Doug Lamborn, R-Co.
        ■Tom McClintock, R-Ca.
        ■Mick Mulvaney, R-S.C.
        ■Randy Neugebauer, R-Tex.
        ■Steve Pearce, R-NM
        ■Ted Poe, R-Tex.
        ■Denny Rehberg, R-Mon.
        ■Dennis Ross, R-Fla.
        ■Steve Scalise, R-La.
        ■Cliff Stearns, R-Fla.
        ■Joe Walsh, R-Ill.
        ■Lynn Westmoreland, R-Ga.
        ■Joe Wilson, R-SC

        • OB1

          I looked for who voted against the final debt limit deal the day after the vote and posted it on a previous post here. NM, SC really stood their ground. Congress held all the cards and caved. Even Donal Trump said that was a huge mistake! The day before the vote Mr. Rhino, Lindsay Graham went on record, very saddened BTW, and said he would NOT vote for it. John McCain called the Tea Party holdouts “hobbits”. I was thrilled! Frodo and Sam succeeded in destroying the ring in the end! I like to think of Ron Paul as Gandolf, and Marco Rubio as Aragorn. To expand on this concept the evil power is The Bilderberg Group, The Trilateral commission, and the Federal Reserve. The Orks are the progressive socialist marxists….just having some fun with this. I got very discouraged yesterday. Just, think about how JRR Tolkein and C.S. Lewis wrote about all this stuff prior to and during WWII. That apparently was the period of the rise of the Rothchilds and the Bilderberg group. Ron Paul 2012. He IS a registered Republican and a die hard Libertarian. Audit the Fed and end it! It is NOT a division of the US government! It is a private corporation!!!!! Wake up America!

          • JeffH

            Ron Paul…”the greatest spirit and the wisest”…

          • DaveH

            Unfortunately, the RINO McCain is my State Senator. I did my best to get him thrown out, but there are too many good old boys protecting him.

          • DaveH

            And we must always be aware of the games politicians play to fool the voters. One is to vote the way their constituents want them to vote, but only if the vote is a slam dunk for the policy they really want. This gives the appearance that they are listening to their constituents when in reality they would have voted the other way if necessary to get what they really wanted.

        • Jeff in OH

          Great job Jeff….

        • Dan az

          Jeff
          You know the only one that returned a real letter was franks.I will be watching him.Good to know.Thanks brother

        • Old Henry

          JeffH:

          Bachmann might have voted NO on “the deal”, but she voted in FAVOR of facsism, AKA the unPatriot Act. That soured me on her completely and moved my complete allegience to Ron Paul.

          Steve King also put his support behind facsism per some video clips posted here (by you?) a couple weeks ago.

          Speaking of Bachmann, I have been trying to find a way to email her, or her campaign, to voice my anger. There seems to be no contact information that I can find.

          I am FED UP with O’Reilly and Gretta and the way they continually trumpet Bachmann and mysteriously never mention Ron Paul.

  • Charley41

    Joe America 8:28am …you said it plain and simple. I’m afraid this Rick Perry is also on the side of One world gov. We should be very careful who we vote in to replace the mess now.

    • Old Henry

      Charley, the TX RINO is a Bilderburger. (I just realized that sounds like something from Burger King….j)

      • Dan az

        Old Henry
        Would you like Fries with that? :)

  • Harry

    I still haven’t decided which is more worthless, the American currency, or the bankers and politicians who have destroyed it

    • JeffH

      No doubt, the crony bankers and politicians…

      • Old Henry

        I don’t know…. It’s kinda like the chicken and the egg deal.

  • 2WarAbnVet

    The President and his party have the answer to this problem – spend more money!

    • http://Moreexpensive,moreunknowproblems. Lewis Munn

      Print and spend. Worked so well for Germany!

  • Elevenarrows

    Charley41, I agree. I have the same concerns about Gov. Perry. I am suspicious of anyone who attends Bilderberg meetings. I’m glad he rallied everyone for the day of prayer for our nation, but I just can’t trust other things about him. And, why does the media keep trying to sell us Romney again??? I run from any candidate that the media seems to love and support. I honestly don’t see much difference if Romney is in office or Obama. I suppose Romney wouldn’t actually bow to Muslim kings….

    • DaveH

      Rick Perry talks a good show. But smooth talkers always make me suspicious.
      If we look carefully at his issues page, we can see that Perry has his own agenda for Government spending. Especially read the Public and Higher Education section, the Health Care/Tort Reform section, and the Environment and Natural Resources section. These are NOT Small Government agendas:
      http://www.rickperry.org/issues

      • Old Henry

        Yes DaveH, Perry absolutely mushroomed the TX budget. I do not have the numbers in front of me, but I read them a couple of weeks ago and was, ah, taken aback to say the least.

        He also was / is trying to push that North American Super Highway thru TX up to OK by essentially stealing land from land owners. I wish I could remember where I read all that, and much more, but I look at so much each day it blurs.

    • DaveH

      Ron Paul, on the other hand, is not Handsome, he isn’t a great Orator like Perry, and, unlike Perry, he has a diminutive appearance. But the man exudes bravery in spite of his appearance. Who else has stood so consistently against Big Government for 30 years, even in the face of all the ridicule and scorn that the Big Government lovers could heap on him during those years?
      A real man:
      http://www.ronpaul2012.com/

      • Elevenarrows

        I agree, DaveH! I did everything I could to support Ron Paul in the last election. I am sick of the masses complaining there is no one who can make a difference in Washington, but they themselves lack the courage and moral fortitude to step outside of the two party box and vote for someone who has shouted the same message from the rooftops for over 30 years. Dr. Paul often comes across somewhat befuddled in media interviews, but it is usually because he has such an urgency about his message and the media gives him two minutes to get it across. Any of us would sound a little harried under those circumstances. I, for one, am through with the glossy, teleprompter-reading, coached, stiff suits that do NOTHING to support the vision of the founding fathers that made this nation great. Everyone is begging for a hero to step forward…they need to get behind the one who has faithfully served under the Constitution (even when it hurt) all these years. Dr. Ron Paul.

        • Dan az

          Elevenarrows
          Well said!You know if the repubs refuse to have him then it just shows that they as corrupt as the dems.They will never pick him and that is the one everyone should be backing with all they have.I have and I wish that everyone here would take the time to read what he says because he has so much to say and know time to say it when they finally let him speak.Even when they constantly interrupt him during his only chance to speak on the air.Frustrating to say the least.I would like to see him speak to the nation with out interruption for one hour and then see if anyone would take heed in what he has been saying for the last 30 yrs that has come true in every aspect.

          • Karolyn

            Why doesn’t he buy some airtime? And I’m not being facetious, Dave. Would that not be a terrific idea?

          • Dan az

            Then karolyn
            please donate to the poor side.
            http://libertarianparty.org/platform

          • DaveH

            Airtime is extremely expensive, Karolyn, and he wouldn’t get the time to really develop the reasons his agenda would work. Fox Business Channel has given him some good airtime though.
            I think we can’t beat the Internet for getting information to those people who care. He has a wealth of information on his website for those who want to seriously investigate. And those wishing to understand why his drug agenda would work, and why the drug wars don’t, can get a wealth of information from sites like mises.org, reason.org, cato.org, drugpolicy.org, and here:
            http://www.drugwarfacts.org/factbook.pdf

      • JeffH

        DaveH, that is the saddest part of politics…that it is more important to look good and be charasmatic than be a champion of the people, of freedom. There is no doubt that Ron Paul is and has always been a champion.

        • JeffH

          correction…that is the saddest part of politics and “human nature”…

      • OB1

        DaveH, I re-posting this for you. To me Ron Paul is beautiful. I never read his entire voting record, or writings until 5 months ago. One of my most successful clients told me about Ron Paul in the LAST Election. He explained why he voted for him. He knew about all this stuff back then! Ron Paul will get NO media exposre because he is THE THREAT to the entire BEAST! Previous post:
        OB1 says:
        August 10, 2011 at 12:34 pm

        I looked for who voted against the final debt limit deal the day after the vote and posted it on a previous post here. NM, SC really stood their ground. Congress held all the cards and caved. Even Donald Trump said that was a huge mistake! The day before the vote Mr. Rhino, Lindsay Graham went on record, very saddened BTW, and said he would NOT vote for it. John McCain called the Tea Party holdouts “hobbits”. I was thrilled! Frodo and Sam succeeded in destroying the ring in the end! I like to think of Ron Paul as Gandolf, and Marco Rubio as Aragorn. To expand on this concept the evil power is The Bilderberg Group, The Trilateral commission, and the Federal Reserve. The Orks are the progressive socialist marxists….just having some fun with this. I got very discouraged yesterday. Just, think about how JRR Tolkein and C.S. Lewis wrote about all this stuff prior to and during WWII. That apparently was the period of the rise of the Rothchilds and the Bilderberg group. Ron Paul 2012. He IS a registered Republican and a die hard Libertarian. Audit the Fed and end it! It is NOT a division of the US government! It is a private corporation!!!!! Wake up America!

      • Old Henry

        Yep DaveH, a “man’s man”. I think that may be what is resonating not only with the younger voters, but with a lot of American people.

        I have known a few in my life, but very few.

  • http://yahoo skyraider 6

    What another 105 billion for africa i thought we were broke. please charity begins at home

    • Lost in Paradise

      Yes and how many of these handouts does it take to equal one trillion?Have we reached a trillion since Odumber has been in office? Maybe I should be asking how many times have we reached one trillion in foreign spending. Yet it is our domestic entitlements that are the Problem?????????? Yep sure it is.

    • http://Moreexpensive,moreunknowproblems. Lewis Munn

      That is for home. Obama’s home! He looks out for his own first!

    • jibbs

      When did we give that money away?…….wait a minute……

      hey!!!! my wallets gone!

  • Lost in Paradise

    I find it very difficult to believe that entitlements are our real problem. To me it is the entire U.S. government and its constant spending in so many other areas that we may not even hear about, plus the enormous foreign budget, or lets call it foreign entitlements, so you understand. Your government is playing God with you money, and will continue to do so, until WE THE PEOPLE, put a stop to it. Voting is not the answer as it did nothing last November, and will do nothing in the future with the current government in place. It needs to be forcefully removed!!

    I do not have a problem with helping the poor of this country, but do have a problem with us supporting the WORLD!

    • Nadzieja Batki

      Doesn’t helping the poor in this country and the whole world give the do gooders their warm fuzzy feelings and jobs as well.The do gooders will fight anyone tooth and nail if you disparage what they are doing.
      Charity is an individual duty. You help if you want to and don’t do it if you don’t want to. Charity if given is to be paid back to the one who gives it.

      • Karolyn

        Nadzieja – “Charity if given is to be paid back to the one who gives it.” What does that mean? Charity is not given in order to get omething back.

        • bob wire

          Charity might start at home but it come from everywhere and goes everywhere and it’s a “pay forward” situation.

  • Jay

    The fortunes of California are sinking fast.

    We need not imagine what our lives would be like if the Democrats take top to bottom control of our lives ever again. The unmitigated disaster that is California shows us what America’s future would be if Democrats and their union masters ever regain control of our government.

    When disgraced and recalled California Democrat Governor Gray Davis quietly signed SB 400 a bill funding the California Public Employees’Retirement System in 1999,he set in motion a nightmare for taxpayers and sugarplums dancing in the empty heads of the state’s unionized workers.

    Bill SB 400 gave California’s public employees billions of dollars in RETROACTIVE pension increases resulting in LIFETIME pensions of up to 90% of yearly salary starting for workers as young as 50 years old! More than this, the California Democrats and their union masters insisted (presumably with a straight face) “no increase over current employer contributions is needed for these benefit improvements”and that
    Calpers [California Public Employees Retirement System] would “remain fully funded.”

    Imbedded in this SB 400 is the fact that any shortfall of CALPERS funding would be made up by the taxpayers of the State of California,but of course that would NEVER be necessary because the fund would grow along with the Dow Jones! Right?

    You don’t know whether to laugh or cry

    The generosity in SB 400 relies on a certain set of fiscal assumptions that extend ten years into the future. Incredibly the assumptions in this bill rested on growth in the basic Dow Jones average so strong and so uninterrupted that by 2009 it would be at 25,000 and believe it or not at 28,000,000 by 2099. Remember these numbers come from the same people that cry at the thought of privatization of Social Security because people will “put their money in the stock market and loose it all.”

    Enter Jerry Brown

    Apparently no one has told California’s current Governor Jerry Brown about California’s obligations under SB 400. He has just bet $4 billion he does not have that the stock market will climb and he can steal the money of the state’s few producers with capital gains taxes.

    A Los Angeles based financial consultant summed up Brown’s gamble this way “[His] revenue projections were silly before. It was always unrealistic,and now it’s just that much less realistic.”In other words there is nothing but disaster ahead for the Democrat/union controlled state of California. Since California is essential to Obama’s re-election it is a certainty that a foundering California will be passing the hat in Washington. As a hopelessly Blue bastion it is hard to see any bailout for the Golden State.

    http://www.coachisright.com/california’s-disastrous-condition-proves-democrats-can’t-be-trusted-with-our-future-ever-again/#

    • Dan az

      Jay
      Excellent work my friend.I hope for your sake your not living in kalifornia.

      • JeffH

        …from a life long Californian…sad but true.

        Now, the first line in California’s High Speed Rail estimate took a big hit…the 140 miles to be built in the central valley between Merced and Bakersfield.

        Environmental impact studies released Tuesday put the price tag of the first segment of the high-speed rail project — connecting Merced and Bakersfield — at $10 billion to $13.9 billion.

        That compares to an initial estimate of $7.1 billion from 2009 for the Merced-to-Bakersfield section

        Yeah, California is the original of La La land…

        • Dan az

          Jeff
          When are you going to get the hell out of there?Really I cant think of a better time then now.I did it and it seem like it would be impossible but it wasn’t.Just a bit-ch.All my family moved too.So whats holding you there?

          • JeffH

            …have some family obligations to complete before I depart…I’m looking towards Montana, Idaho, New Mexico or Arizona…not sure yet but the weather and the cost of living will play a big roll in my decision…oh, and the waterfowl/upland hunting and fishing…

          • jibbs

            JeffH says:
            August 10, 2011 at 1:54 pm
            …have some family obligations to complete before I depart…I’m looking towards Montana, Idaho, New Mexico or Arizona…not sure yet but the weather and the cost of living will play a big roll in my decision…oh, and the waterfowl/upland hunting and fishing…

            *********************************************************************
            JeffH,
            Have you thought about south central Missour? we have all your looking for and low taxes too. Plenty of hunting and fishing, and property is cheap for homes with large parcels on land and the cost of living is low. If you would like some info. let me know.

          • jibbs

            err, I meant Missori

          • jibbs

            I meant Missouri, I guess I was wound up about the 105 billion dollar givaway.

          • OB1

            I want to leave CA too. In my case, fly fishing…as well as all of the following that JeffH stated:

            I’m looking towards Montana, Idaho, New Mexico or Arizona…not sure yet but the weather and the cost of living will play a big roll in my decision…oh, and the waterfowl/upland hunting and fishing…

            South Central Missouri? Near what city or town? Have a sister in rural Virginia that raises grass fed black Angus Cattle. A little remote but near a big lake like Lake Shasta in Cali. Own a 29 year old business. Own RV and ready to go. Don’t want to be more than 25 minutes to a town..any ideas?

          • Dan az

            Jeff
            Cold,cold,hot and hot.
            misery is nice but allot of bugs,Idaho is nice to but cold as hell in the winter,montana is nice to but to cold for me,Thats why I picked AZ is for the dry heat for the old bones.Al and I both would love to have you come here but you have to like the heat in the summer.I made my choice because of the gun laws here and the climate I just hope you make your choice sooner than later!I know that you will take it in the shorts when you sell but hey better then loosing it to taxes!

          • JeffH

            jibbs, I do have some relatives in Missouri and Arkansas but haven’t given much of a thought of moving that way. I would really like to experience the green timber duck hunting though…gotta look into it.
            I am trying to stay away from heat, humidity, tornadoes, hurricanes and big bugs…how’s Missouri in that department?

          • JeffH

            Brother Dan, I’d like it too! Not a homeowner so that eliminates the tax problem. How is the heat in Az? …here in Fresno, it runs mid to 100+ temps during the summer months then cools down for fall and winter. A dry heat too. I know some areas like Flaggstaff are fairly consistent…the pine highland country is what I think I’d like to check out.

          • jibbs

            JeffH says:
            August 10, 2011 at 4:12 pm
            jibbs, I do have some relatives in Missouri and Arkansas but haven’t given much of a thought of moving that way. I would really like to experience the green timber duck hunting though…gotta look into it.
            I am trying to stay away from heat, humidity, tornadoes, hurricanes and big bugs…how’s Missouri in that department?

            JeffH,
            The bugs are not that bad or big, we have a few snakes, but they tend to stay away from the house, I see them here and there up by our hay field..harmless garders, and some black racers that eat mice, spiders and other unwanted vermon. We seem to be in a good area to miss the tornado’s. they had the hottest summer in 30 years this year, but it was cooler than Chicago. Average temps are high 80′s to low 90′s humidity has been in the comfort zone. NO HURRICANES.

            Hunting seasons start with in November with Deer, Turkey, squirrel and frog, I’m not sure when duck starts. We are near the Jack Forks riverways and several others for fishing.
            We bought are home lst Sept., 10acres, pasture and wooded, 22 ft. deep 1/2 acre pond with frogs, turtles and fish. You can hunt your own land in season and target shoot at will.

            We are in Howell County near West Plains.
            If you want to email me, I can give you a lot more info. and the real estate service agents name. And the best part is, we remain good friends and he is like minded.
            My email is, airventure @live.com

          • Dan az

            Jeff
            Where Al lives in the summer it stays pretty much in the hundreds.
            Where I live it stays in the 80′s and where Dave lives is about 10 deg.cooler. He is about 1000 ft higher than I am which is about 5800 ft and for the desert rat Al that plays in the heat and loves it is about sea level or there abouts.The Elk hunting up here is fantastic but the fishing sucks with the stocking of lakes.There are snow geese and honkers but you have to be on one of the ranches to get access to them but it is cheep.The deer here are a little bigger than where you are and there is javelina and plenty of antelope for variety.Land cost is around 20 to 40K for 40 acres and when you get into flagg area it goes up and the amount of ground goes down.

  • Falcon99

    Quite a lot of wisdom displayed in these posts! So many are beginning to see clearly that the downfall of our nation is being orchestrated. Many fail to realize that Obama was not reared with American values. He lived with an atheist mother in a Muslim nation during his formative years so he was taught, openly and subtly, disrespect and dislike for our understood values. He has surrounded himself in adulthood with like-minded individuals. Why are we surprised when his actions are arrogantly hostile to the American populance and our way of life? The legislators who grew up here and claim they love our country must just be blinded by their desire for power and greed.

    • Lost in Paradise

      Falcon a large portion of our population was not raised in America, and reared in American values. That is the problem we now face, and I think it may have been orchestrated by the elite.

      Something is really amuck, when the minority can manipulate, and control the majority.Of course, I can think of at least two minorities, that breed like rats,so watch out for the new majority sometime in the future. One of them has already overwealmed California, and some other western states.

  • Lost in Paradise

    I certainly hope that you do not consider UNION BANDITRY, entitlement programs. We finally got a republican governer in Wisconsin that said enough is enough and now the Unions are spending literally millions to get themselves into the majority in the senate, and hope to remove the governer in a recall election. America can no longer afford the Unions, and I would like to see the demise of them all. Coupled with downsizing the government, it would almost surely mean the return of Manufacturing to the U.S.

    • http://personalliberty.com fedup

      Couldn’t of said it better myself.

  • Jay

    Timing is everything in politics,and the Obama White House has mastered this axiom like none other.

    A motion to strike,(a win for Plaintiff Orly Taitz),was granted by the U.S. D.C. District Court in the same 24 hour news cycle Barack Obama appeared before the American people to declare a troop draw down in Afghanistan,(to send them on the ground in Libya in September ??) thus burying a huge story of enormous constitutional merit. The takedown and burial at sea of Osama Bin Laden “coincidentally” happened at the same time another eligibility case moved forward in May.

    As Obama and his corps play the American people like a fiddle in their White House marching band,we are just learning the indefatigable Ms. Taitz,so mocked and scorned by the MSM,won her motion to enforce her Freedom of Information Act request for Obama’s records,filed with the Social Security Administration (SSA).

    The befuddled SSA was so busy stonewalling the release of any information concerning her request for Obama’s social security application form that it even let filing dates pass,a real no no!

    Rule 12 of the Federal Rules of Civil Procedure states,“the court may strike from a pleading an insufficient defense. . .” In her introduction,Taitz said,“something very strange is going on,”a stunning understatement indeed. Now in an only in America twist,only the web site http://www.thepostemail.com is making this PUBLIC RECORD court case # 1:11-CV-00402 available so far on line. Heavy copyright statements preclude actual release of what is being revealed there,but be assured THIS IS BIG!

    Taitz’earlier case representing former U.S. Ambassador Alan Keyes et al is the bigger skein of the eligibility issue dogging Obama. And this will just not die no matter how many millions Obama spends to stifle questions of who he is and whether or not his birth and parentage qualify him to be our Commander in Chief and U.S. President.

    Taitz presented the court a 53 page pleading covering stunningly detailed forensic evidence by printer and graphics experts testifying to the cut and paste fraud and forgery inherent in the long form birth certificate released by the Obama White House during the Bin Laden news cycle. From the binary-grayscale conflict to dropped pixels to obvious layering,Federal Court Judge Hon. Royce C. Lamberth heard a depth of investigative research not matched by the losing side.

    The multi-state travels of the Stanley Ann Dunham- Barack Obama family showed up in the pressure being put on Social Security Administration Commissioner Michael Astrue whose agency returned requests for the Obama ss # application with,“Sorry,your request cannot be processed at this time. . .” so “Access Denied” is the tune of the day!

    Are there a few good men and women out there in Congress to stand with this patriot Orly Taitz?

    Taitz describe Obama’s fraud as,“… the most serious breach of the U.S. national security since the creation of this nation,”what American patriot could disagree?

    Will you call toll free 1-877-762-8762 the following U.S. House members: Darrell Issa,House Oversight;Mike Rogers,House Intelligence;Sam Johnson,House Ways &Means;Dana Rohrbacher,House Foreign Affairs. Will you demand they stand with the truth?

    • OB1

      The FBI and many others have been notified since June of the Forgery proof (photoshopped in layers that were never flattened!)Plus oh so much more. Lokk at all those who have been served and notified as well as all the evidence:

      http://sn134w.snt134.mail.live.com/mail/InboxLight.aspx?fid=1&fav=1&n=1266223603#fid=7bcee2b3f679462a852880574de2b0a6&pdir=NextPage&paid=e236d64e-a75d-11e0-a4a6-002264c20336&pad=2011-07-05T23%3A24%3A10.133Z&pidx=2&n=1164729240&mid=92c917ac-8e20-11e0-b22e-00237de4a6ea&fv=1

      • Jay

        Thanks OB1, mega info and proof, but why is he still in the White House? Hmm…

        • OB1

          The banksters and the corporate elite. Both sides unfortunately. They are worried about the “hobbits” as John McCain so eloquently put it. Point: Allen West when asked why he voted for the Patriot Act renewal as well as the final debit ceiling raise: (military man) you will not win the war with one battle. Choose your battles, or something like that.
          I fear a big battle is brewing. Ron Paul has no media coverage. Not even on Fox. Fox business? Yes! They love him! If he wins or scores high in Iowa (where Romney hasn’t even really campaigned)and Perry is on the way there after he announces in South Carolina on Saturday, I predict that the MSM will completely block Paul (as they already have) and make a circus of the Romney Perry circus, i.e., Mormon vs. “Christian”. Sideshow. They are both Globalists. Romney: Council of Foreign Affairs and Perry Bilderberg 2007, Mexico to Canada Super Hiway,both illegal immigration supporters and card check., etc., etc.
          How can ordinary citizen not think card check will affect them? Just plain dumb. I am thinking that either one if they win the primary will consider Bachmann as the Palin substitute to appease the Tea Party. What say you?

      • Kate8

        Jay and OB1 – I really think this issue is a big statement to the American people that our DC government is a sham, that we are now ruled by the NWO and our Constitution is meaningless. It is also a statement that all officials under the NWO are above the law, and this includes Obama.

        We’ll see if this goes anywhere, but since the higher courts, including the Supremes, have completely sold us out, as has Congress, I wouldn’t hold my breath.

        Orly Taitz has tirelessly pursued this, despite being slapped down by the courts and ridiculed by the media, for the sake of our country, and she’s Russian. She knows where America is heading, and this is how much she is willing to fight against it.

        If more Americans had any idea of what life is like under communism, and what the NWO has in store for us, they wouldn’t be so unconcerned.

        • Jay

          My sentiments exactly, Kate, which is why obama is still walking free, and not in jail, as he should be!

          • OB1

            Actually, I’m unsettled today because the entire point of the authors’ article was about barbed wire stretched too tight until it snaps. I was a caretaker on a 40 acre cattle ranch (not big but very hilly!). It was’nt just the barbed wire had to be checked all the time, it was the damned POSTS! After a real heavy rainey season, they would come loose. The cattle woul press against them (not the barbed wire) all the time. Eventually, one of the cows or the bull would knock down a post then I’d have a neighbor calling (saying “moooooooooo” which meant your cattle are here again!) or the park service (I’m not kidding you, the guy’s name was Red Greene). I can’t believe I did this evey day for 3 years morning (early) and evening. The whole time, I kid you not, I was working full time for technology in high tech business for national company. I would like the writter of this article to comment on what he and his dad did about the damned posts. Seems to me I understand the metaphor about the wire but it also seems to me the posts are rotted or the ones they may have replaced with metal were no good. No Posts, no tight fence.

  • Old Henry

    John:

    I never had experience with barbed wire, but did have occasional run-ins with electric fences on my uncle’s farm when he used to raise Herefords back in the 50s and 60s. Never stretched fence, but did have the privilege of walking the bean fields and pulling button weeds and rogue corn.

    You stated that you wish Congrssional memebers and Obama had done some farming. I would say I wish Obama had done anything in his life – anything. The only “real” job he ever had was shoveling ice cream. Maybe THAT’S how he got so proficient at shoveling manure.

    That is basically why he has not a clue. (Or does he?) Me thinks the commie Muslim Kenyan knows exactly what he and his communist administration are doing.

    We must also remember that the current “leaders” in the House are the same dirt-bags that colluded with Shrub to spend, spend, spend from 2001 – 2007 when they lost the Congress. Admittedly it was down-hill in the Congress when Nazy Pelosi and Dingy moved into their new digs, but can we expect the current crop of “leaders” to abandon their good ole boy network and actually DO what the voters mandated in November of 2010?

    My freshman “TEA Party” Rep is a small businessman. He started from scratch and has a going resturant. In the end HE voted for the “deal”.

    He received two scathing emails from me for his actions. The first when I found out. The second as a reply to his email justfying his vote, or attempting to.

    I also sent a similar email to one of my Senators, the RINO. The oter one is a worthless communist traitor who stated our military personnel are Nozis, communists and mass-murders, all on the Senate floor.

    I cannot afford gold, but still can afford groceries so, that is what I have been investing in. And some silver rounds last year.

    • Old Henry

      Mr. Myers:

      I forgot to ask you, if the wire made that certain sound just before it broke, was your dad a slow learner, or was he hard of hearing?

      • John Myers

        He was very smart but liked to tempt the Fates.
        Thanks for reading.
        John

        • Dan az

          :) ;)

        • bob wire

          Sounds like my old man, if a little does a little good it’s only reason that a lot does a lot of good.

          I hated to work with my father ~ he made it hell on earth. I’ve let it go but forget? ~ not in this lifetime.

          • Jay

            My sympathy, bw. I can relate!

    • 45caliber

      I like to invest in lead. I suspect it will be worth more in the future than either gold or silver – and it can be used instead of traded if needed, unlike the other two metals.

      • Dan az

        45
        You and me both brother! :)

  • robert shrugged

    lost in paradise I disagree with you. I have a problem with governmet supporting the poor and the poor countries with the peoples money. charity is to be dispensed by individuals who have the ability to help others. the government has no right or authority to give anyone money taken from the people at gunpoint. where in the constitution does it direct the government to do this? we got through the depression because people helped people who needed help. the government does not help people it enslaves them. when someone is hungry and asks me to give them money I say no, but I will buy you a sandwich and a milk or fruit drink. that is helping the person in need. giving money to someone who is an acholic money for a drink is not helping him. in the depression it was the individuals helping and sharing what the could that got us out of depression and world war two, not the government. government is our worst ememy, that is why our founding fathers tried to limit the government from doing anything but what was essntially necessary for them to do. the constitution limits government. but the politicians slowly but surely went around the constitution and did things that they were prohibited and made people think they needed a cradle to grave support from the people. what we have today is tyrrany and loss of fredom.

  • robert shrugged

    we had a recession in 1918 and Harding said they did it to themselves, let them fix it. the recesslion lasted 10 months.

  • http://www.foundersrevolution.net Patriot1776

    Now the Fed says it will keep interest rates artificially low for the next two years! Yeah, thats just what we need….more malinvestment This only exacerbates the problem in the long term! Good job fed. Are we done with centrally planned economics yet?

  • steve in AZ

    Hiding in Canada won’t do you much good,Bob. I’d rather die in America than live anywhere else. And I will.

    As the procrastinator might wait for the last minute before repenting and seeking salvation in Christ, so have many waited (for whatever reason – oblivion,denial,faith in our government,etc.) for the last minute to store whatever amount of pseudo-wealth they may have in the Federal Reserve Notes in physical precious metals. Keep them in your possession.Share this advice with your loved ones. I don’t know how many chances these folks think are still to come. Buy physical precious metals now, or do without the comforts to which you have become accustomed,indeed,even minimal requirements for survival, as soon as tomorrow.

    http://www.youtube.com/watch?v=0SfbqeD_WBY&feature=uploademail

    DONATE AND VOTE RON PAUL 2012!!!!

  • Dan az

    One down…..49 to go!!!

    Florida is the first state – Hooray for Florida

    Florida is the first state that is now going to require drug testing for welfare! Some people are crying this is unconstitutional. How is this unconstitutional? It’s completely legal that every other working person had to pass a drug test in order to have a J-O-B that supports those on welfare!

    Forward if you agree!! Let’s get Welfare back to the ones who NEED it, not those that WON’T get a JOB…..I AGREE!!!

    • OB1

      There are some in the Senate and the House who are strong! Check out this video of Marco Rubio speak about the debt before the senate! It’s got a title now, called “Save The Whole House or it will Burn Down!” (great part where he takes questions from John Kerry (another Bilderberg and Trilateral Commision, Council of Foreign Affairs sell out!) I found this VERY Encouraging! Ron Paul (Gandolf) 2012! Maybe Marco Rubio for VP! Hot damn!

      http://www.youtube.com/watch?v=_68GjR6V6zI&feature=email

      • JeffH

        OB1, fantastic video of Marco Rubio in action on the Senate floor…something everybody should watch and listen to…no partisan lies, just complete nonpartisan truth…very well done.

      • Dan az

        OB1
        Excellent find!!!!
        We need more like him!Kerry is such an azz that he could not even debate him.YES thats the kinda stuff we need more of to get the rino’s out of there.Good Find!!!!

  • robert shrugged

    welfare is not a rignt. the federal has no constitutional right to take money from me and give it to someone else. show me where in the constitution that gives congress, the president, or the supreme court the power to take from me to give to others who do not work. if they would go and work for the government to buils roads, clean roads, clean parks, sweep sidewalks, or clean city buildings that is another thing.

  • robert shrugged

    correction to build roads

  • Bob from SoCal

    None of this is going to stop until America defends itself from the New World Order. The destruction of our economy is by design. They will go after our 2nd amendment next, then clamp down with martial law. Things are heating up folks, but this will not stop by treating the symptoms. We need to destroy the cause.

  • robert shrugged

    just go back to the constitution as written. anything that is not in the constitution is null and void. one term for all federal jobs and elected officals. void the supreme court decisions that are in conflict with the founders and state laws (since the states are superion to the federal government (admendments 9 and 10)

  • Dan az
  • bob wire

    Hmm? Yes I hear it too! I’ve been smelling it for many years.

    I hope Wall Street has their windows unlock for the ones that wish to make a quick exit.

    They need to clear the streets below. No need in innocent bystanders getting hurt.

  • SMSgt Z retired Nam 68

    Something for you all sorry the chart did not copy

    Forget, if you can, the day-to-day craziness in the stock market. Here’s a broader question: After the big declines of the past several months, are stocks cheap? Are they still expensive?

    By one measure, stock prices are not particularly high or low — they’re valued very close to their 50-year average, as Jason Zweig pointed his latest WSJ column.

    (Note: This is not a prediction about what stock prices are going to do. I am proud to say that I have no idea what stock prices are going to do. Still, I find this to be a useful way of thinking about how the stock market behaves in the very long term.)

    I’ll start with a chart, then explain what it means.

    Another Way Of Looking At The Stock Market
    Ratio of stock prices to long-term earnings

    Source: Robert Shiller, irrationalexuberance.com
    Credit: Allison Lenz/NPR
    If you know what this chart means, you can stop reading here. If not, here’s an explanation.

    When you buy a share of stock in a company, you’re buying a tiny slice of the company’s future profits. So the price of a stock today should be the present value of all those future profits.

    Of course, no one knows what those profits will be, and the market isn’t as simple as that explanation suggests. The market plunge in the past few weeks doesn’t mean that investors calmly, rationally decided that all future profits of U.S. companies will be radically lower than they previously thought.

    Still, it’s useful to keep this idea in mind, particularly over the long term. Investors have developed a measure to track the price of a company’s stock relative to its profits, or earnings. It’s called the price-to-earnings ratio, or PE.

    Quick example: Say Planet Money International stock is trading at $50 a share, and Planet Money’s annual profits are $2 per share.

    To get the PE, you divide the stock price by the annual income. In this case, you divide 50 by 2. The PE for Planet Money international is 25.

    A higher PE means investors are willing to pay more for each dollar of current profit — typically a sign that investors think profits will grow in the future.

    PE is sometimes calculated by using profit estimates for the coming year. But these estimates are notoriously unreliable. You can also use the previous year’s profits to calculate PE. But profits can bounce up and down a lot from year to year.

    Robert Shiller, the Yale economist, uses a PE measure that takes into account the past 10 years of profits. That has the advantage of smoothing out the year-to-year ups and downs.

    He’s calculated this measure — known as the cyclically adjusted PE — for a broad swath of the U.S. stock market going all the way back to 1900. (Here’s the spreadsheet.)

    Over the past 50 years, the average cyclically-adjusted PE for the overall stock market has been 19.5. As I’m writing this — it’s Wednesday morning, and the S&P 500 is at 1140 — the cyclically adjusted PE is 19.7. (The last data point chart above reflects yesterday’s close, by the way.)

    Again, this isn’t a prediction about what the market is going to do. It clearly moves widely around the long-term average. And for that matter, the long-term average can change over time.

    Still, looking at the market in this way can make it easier to see beyond the day-to-day craziness of market moves and think about the long-term picture.

    by JACOB GOLDSTEIN

    • bob wire

      Thank you for your rational posting SMSgt Z retired Nam 68.

      I earlied out in 69, having served 12 months with the 25th out of ChuChi and within 120 days of my DROS.

      For people that play the markets it must be madding to follow minute by minute and probably accounts from much of this fevered insanity.

      If they can’t afford to lay down a marker, walk away and let it work through, they really can’t afford to play. It’s seems like they are trying to bet on a horse race a gallop at a time. Only affording a few gallops at a time, I suppose. An amusement game of sport for small timers that probably don’t know near what they should to engage such a sport.

  • SMSgt Z retired Nam 68

    Happy reading

    Just days after the Treasury Department criticized Standard & Poor’s for “a $2 trillion mistake” in the math it used to justify its credit downgrade of the United States, the ratings firm sent a letter to securities regulators urging them to keep some proposed regulations as vague as possible.

    One area in which S&P had specific interest in keeping things vague? A provision that would require the firm to report “significant errors.” The letter was first noticed by Reuters, though you can see the letter for yourself [PDF] on the Security and Exchange Commission’s website.

    S&P “does not believe that the Commission should attempt to define the term ‘significant error,’ ” the firm wrote. Should it do so, the commission “would effectively be substituting its judgment for that of the (rating agency).” (Reuters notes that the other two of the three main ratings firms, Moody’s and Fitch, did not raise major concernsabout the proposed rule on errors.)

    In the controversy over the U.S. downgrade, Treasury officials accused the firm of making a miscalculation that “undermined the economic justification for S&P’s credit rating decision,” noting that after the mistake was pointed out, “S&P simply removed a prominent discussion of the economic justification from their document.”

    According to the Wall Street Journal, however, S&P didn’t seem to agree on whether this mistake constituted a significant error:

    S&P officials acknowledged the error Treasury pointed out but didn’t believe it was so significant. It was a technical error, though it could have serious implications.

    “We have found our error correction policy has proven to be effective,” the company told the SEC. That policy requires [PDF] the firm’s employees to “promptly report any material errors discovered” but essentially leaves it to the firm to define whether the error is significant enough to warrant disclosure or adjustment of ratings.

    The SEC rule-making is mandated by the Dodd-Frank financial reform bill, passed by Congress last year to clean up after the financial meltdown of 2008.

    In its comments on the rules, S&P sought more discretion than regulators had proposed. “The Commission should not set out such detailed requirements,” the company wrote regarding a proposal to require more reporting on firms’ internal control structures.

    The rules also require ratings firms to limit the interaction between employees involved in developing ratings and employees involved in sales and marketing activities—the idea being to prevent the sort of conflicts of interest that some say aided and abetted the creation of risky mortage-backed securities.

    S&P urged the SEC not to define “sales and marketing activities.”

    “We think it is appropriate for individual (rating agencies) to define these activities for themselves,” the company wrote.

    Meanwhile, advocates of reform expressed disappointment on key aspects of the rules regarding internal controls and conflicts of interest. In a separate letter, Americans for Financial Reform and the Consumer Federation of America urged the SEC to enact more stringent rules in those areas and to provide “extensive clarification” on other aspects of the proposed regulations that the groups felt were too vague to be meaningful.

    • Al Sieber

      So what’s your point Jovanus,sorry, I meant Sarge.

  • Jay

    WASHINGTON – The latest meeting of the secretive, half-century-old Bilderberg Group concluded yesterday outside of Athens with a few arrests, but little news.

    Demonstrators from the political left and right shouted outside the Astir Palace hotel letting some of the wealthiest and most powerful people in the world know they weren’t entirely welcome.

    A photographer for the London Guardian was briefly taken into custody while police insisted he delete pictures he took outside the hotel, which was closed to the public during the three-day meeting.

    A police officer told the Associated Press the resort was being protected by hundreds of police, navy commandos, coast guard speedboats and two F-16 fighter planes. The officer spoke on condition of anonymity, in keeping with his department’s regulations.

    Attendees this year reportedly included U.S. Treasury Secretary Tim Geithner; Larry Summers, the director of the U.S. National Economic Council; Richard Holbrooke, the Obama administration’s special representative for Afghanistan and Pakistan; World Bank President Robert Zoellick; European Central Bank President Jean-Claude Trichet and European Commission president Jose Manuel Barroso.

    Bilderberg attendance is by invitation only. And if you want an invitation, you’d better be extremely rich or extremely powerful.

    New invitees reportedly include the nouveau riche Google Chief Executive Officer Eric Schmidt. Henry Kissinger, a lynchpin of continuity with other secretive internationalist groups including the Council on Foreign Relations and the Trilateral Commission, is a regular attendee, as is Wall Street Journal Editor Paul Gigot.

    http://www.wnd.com/index.php?fa=PAGE.view&pageId=98469
    Former British cabinet minister, Lord Denis Healey, one of the founders of the group, explained the purpose of the group to Jon Ronson of the Guardian: “Those of us in Bilderberg felt we couldn’t go on forever fighting one another for nothing and killing people and rendering millions homeless. So we felt that a single community throughout the world would be a good thing.”

    Read more: Google joins Bilderberg cabal http://www.wnd.com/?pageId=98469#ixzz1UinmRKdO

  • Dan az

    Some times the best solution is the simplest.Sniper!

  • Gerard Kalmbach

    Funny that it bounced right back up again the next day. What next, Chicken Little?

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