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The Silent Tax Obama Will Use To Win The Election

September 10, 2012 by  

The Silent Tax Obama Will Use To Win The Election
The Federal Reserve will most likely initiate another round of quantitative easing (fiat money production) this week.

Dismal employment numbers released on Friday by the U.S. Department of Labor can mean only one thing for America’s Keynesian money managers: Future consequences be damned, it’s time for another round of inflationary quantitative easing (inflationary fiat money making).

On Friday, the Labor Department released a jobs report that showed nearly 40 percent of the Nation’s population is jobless. The percentage of the population as a whole that makes up the U.S. workforce was charted at only 63.5 percent, the lowest it has been since September 1981.

Despite mainstream economists’ collective assumption that the U.S. economy would show around 130,000 new jobs added for August, the actual figure was only about 96,000.

The report, released on the back end of President Barack Obama’s speech Thursday night at the Democratic National Convention, has given fuel to both his and challenger Mitt Romney’s campaigns.

“If last night was the party, this morning is the hangover,” Romney said in a written statement Friday morning. “For every net new job created, nearly four Americans gave up looking for work entirely. This is more of the same for middle-class families who are suffering through the worst economic recovery since the Great Depression. After 43 straight months of unemployment above 8%, it is clear that President Obama just hasn’t lived up to his promises and his policies haven’t worked.”

Obama claimed in his DNC address that despite the dismal current outlook he has “a real, achievable plan that will lead to new jobs, more opportunity and rebuild this economy on a stronger foundation” if Americans re-elect him.

Pundits have for the past couple of months been speculating that the Federal Reserve would implement another round of quantitative easing that would likely create a short-lived economic boon just before the Presidential election in November. Taking into consideration the latest job numbers, it appears that the Fed will most likely seize the opportunity to act this week at a previously scheduled Federal Open Markets Committee meeting.

The assumption is backed up by a statement released last week by top banksters at Goldman Sachs:

With today’s August employment report showing a nonfarm payroll gain of 96,000 and an unemployment rate of 8.1% because of a drop in the participation rate, we expect a return to unsterilized and probably open-ended asset purchases at the September 12-13 FOMC meeting.

We now anticipate that the FOMC will announce a return to unsterilized asset purchases (QE3), mainly agency mortgage-backed securities but potentially including Treasury securities, at its September 12-13 FOMC meeting. We previously forecasted QE3 in December or early 2013. We continue to expect a lengthening of the FOMC’s forward guidance for the first hike in the funds rate from “late 2014” to mid-2015 or beyond.

In other words: Fire up the presses, Ben Bernanke, we’ve got an election to win.

Another indicator of the high likelihood of Fed action that could lead to inflation was delivered via market data last week following the jobs report. Frenzied investors sent gold prices back to a six-month high at $1,740 an ounce.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • Warrior

    Ben is going to print up some more confetti! Great. And while your at it, why not let us know who the money is going to,,,,,,maybe Calif, IL or one of your favorite auto makers?

    Here’s hoping the “market” goes up enough to offset your losses.

    • Ted Crawford

      Any reciepient of the money will need to have a company name that includes : Solar, Flex-Fuel, Bio- (?), ETC.!

      • Ted Crawford

        I know! I spelled recipient wrong.

      • FreedomFighter

        End the FED

        Laus Deo
        Semper Fi

      • Vigilant

        “Obama claimed in his DNC address that despite the dismal current outlook he has “a real, achievable plan that will lead to new jobs, more opportunity and rebuild this economy on a stronger foundation” if Americans re-elect him.”

        Well, well, I can think of no better reason to throw him out of office. Was he engaged in “on the job training” for almost four years so that only NOW he has “a real, achievable plan?” Have we wasted four years, countless people thrown out of their jobs and homes, suffered a reduction in median incomes, and sustained the first downgrade to our credit worthiness as a nation, simply to give Obama the time and elbow room to come up with a miracle?

        If he wasn’t able to do it in four years, this Johnny-Come-Lately sure as Hell can’t convince anyone but the blind, adoring minions that he just now had his Eureka! Moment.

      • Thor

        Keynesian economics + Cloward and Piven entitlement doctrine = communist socialism (or is that socialist communism?)

      • Ted Crawford

        Thor, it really doesn’t matter, throw in a little Engles and a dash of Marx and you have a PROGRESSIVE !

      • alpha-lemming

        Socialism is just the “seventh inning stretch” on the route to full blown Communism (Obammunism??).

      • DaveH

        The funny thing, Ted, is that you don’t know that you’re a Progressive.

    • Sirian

      A sizable portion of it will probably go to Europe, as it did before. The banks? Sure, they’ll get their portion too. We’re just seeing an “instant replay”, are we not?

      • Ted Crawford

        I heared, in passing a couple of days ago, that Solyndra might still be in line for even more of our money! Does anyone know about that?

      • Sirian

        Ted Crawford,
        One main point I recall in ref to Solyndra is that they, through the bankruptcy court, will only have to repay 23 million of the half billion of taxpayer money they were awarded and obviously mis-used. Insofar as their acquiring any further taxpayer backed funding, nope, haven’t seen anything along that line specifically.

      • Mary

        Ted, there’s an article at “TheHilldotcom” that claims Solyndra is scheduled for an additional $23 million in tax breaks…the House is trying to squelch it.

      • Warrior

        I do believe the Solyndra building was recently picked up on auction or some other type of purchase arrangment. I also understand that proceeds are not going back to john Q public!

    • eddie47d

      The markets have been mostly up in the last 3 years but this is still a good article. This slow economy for working folks (Middle Class) could push Romney into the White House. Although I don’t think Romney has real working folks at heart. It’s nothing more than a winner take all game to him.

      • Frank

        I am mystified about when and by whom the term working class was magically transformed into middle class. I know about millions of hard working americans that will never get even close to $250,000 a year income. To us simple people out here in the great northwest thems is rich folk. I am not concerned with nor worried about the current financial situation of someone who makes a quarter of a million dollars every year. If they lose 10% of their yearly income they lose more than I make in a year. Or, to look at it in a different way, they will still make 13 times as much as I do.

        Everyone, starting with the illegal alien in the oval office, needs to start focusing on the bottom of the pile. The middle class have jobs, the people at the bottom either dont have jobs or have jobs that dont pay enough to live on. Not everyone on entitlements wants to be there but, if there are no jobs for them they will stay there.

        I am a well educated man, have a bachelors degree in software engineering. Shortly after Obama took office I was “laid off permanently” from a job paying me almost 100K a year. Now I make less than 20K. That is underemployed considering the fact that while in college the standart median income for my education was over $250,000 a year. I also have over 25 years of experience in my field.

        Say I am lucky because I have a job, well that aint good enough for me. I am like the other poor people who are living on part time minimum wage jobs. I have more debt than my salary can cover. By this I mean that the economy is going backwards not forward. In 1987 I was making 25K a year doing simple computer programming. And 25K back then was worth much more than it is now due to inflation.

        And, dont hand me that crap about it was Bush’s fault because that is wrong. Economics is a very slow moving monster. The president does not destroy an economy. A president does not spend money. If you check out what caused us to lose jobs in this country you start way back with NAFTA, not the first but a major job outsourcing piece of legislation. Then you look at China’s most favored nation trading status (zero or extremely low import terrifs on their merchandise). Walmart destroyed american manufacturing by forcing them to sell for less than the cost of making the products. This forced manufacturing to be sent overseas (mostly to china) for cheap labor.

        Bush didnt cause it and neither did Obama, but neither one does anything to fix it. To fix it takes balls and the willingness to tighten the belt. Put import terrifs on products from China and any other country that uses slave labor. If you put 15% import terrif on Chinese goods it will help reduce the deficit in our budget. Yes, you say it will raise the price of goods sold here but, right now 70 – 80% of GM automobiles are built in China (has the price of a chevy gone down lately?). Most Fords are not built in the US, have their prices gone down? NO, the price stays the same just the corporate profits go up.

        Anyway, saying that workers are middle class is BS. When was the last time you saw a man roofing a house pulling in a quarter of a million dollars a year?

  • Lynnette

    One can only wish that a meteor could fully impact Washington D.C. thereby allowing the people to have their country back. We have been robbed of our jobs, our homes, our money, our liberties to the point where death will be preferable to the slavery that is planned all in the name of greed. Big Brother is here and they don’t have us just by the balls, they have us by the throat and they are choking the living [expletive deleted] out of us.

    • Ron b

      I guess it’s almost time for the clergy response team to arrive. Seems like Marshall law is not far away..judgeing by all the ammo the government agencies are purchasing.

      • steve

        Martial Law

    • DaveH

      It’s more like we gave our country to them, Lynnette.

  • steve

    so who is being designated to turn the lights off. the parties over

  • Ted Crawford

    If Obama truly has “A real, achievable plan that will lead to new jobs, more oppertunity and rebuild the Economy” Where in the HE!! has he been keeping it? We all know why he just brought it out now, like his “plan to reduce the Deficit by $4 Trillion over the next decade”, when it was offered by the Simpsom-Bowles Commision, he rejected it, now, IN AN ELECTION YEAR, it’s a wonderful idea!

    • The Resolute Voice

      It’s all just smoke and mirrors, and Obama is banking on enough voters to stay dumb or bored through election day. There is an amazing, but scary, similarity between these times and the mid-1930′s in Germany. Hitler had a “plan” for economic boom too, and the Germans and a lot of the rest of the world, including a lot of Americans, bought into it until September 1939.

  • Chester

    Ted, might ask your Tea Party friends where anything Obama might have offered went to. It seems the party of NO has practiced that word very loudly every time anything that just MIGHT help Obama has come up in the house. Take a look at our national credit rating and actually go behind the front story to see who held up who to cause that. Every time the Democrats offered another compromise, the Republicans, pushed by the Tea Party wing, demanded even more concessions. Incidentally, that is why we are looking at severe cuts to military AND social services spending after the first of the year, barring miracles coming from a congress that can NOT compromise.

    • don

      chester, you can call it the party of no but its always been this way. its called partisan politics. in other words the democrats against the republicans. you say the republicans blocked democratic compromise. they have a majority in the house in the senate the democrats have the majority. anything the republicans send from the hose to the senate is usually blocked by the senate president obunhole [a-hole] is like a dictator. what he wants he must get. anymore democrat representitives are going against him. there is no more bipartisan politics in dc.

    • trw

      the only one that could not compermise was obama he would not bend from his tax hike on the rich . the goverment already takes 67% of all the working peoples money and can`t produce a budget in over 3 years now what makes you think if the goverment had more tax money that they would balance the budget or even give us one give away programs and spending is the problem just ask your self if you took 67% of your check and squandered it could you pay all your bills and that is just what our goverment is doing wake up

    • Ted Crawford

      Chester that tired, old, worn out, “Party of No” idiocy is so yesterday as they say! Obama and the Progressives had control of 2/3rds of the Government for two years! For 9 months of that time they even had a filibuster proof Senate! That means that if Obama hadn’t been such a Narcissistic, idealist, that even his own party couldn’t agree with him they could have done ANYTHING that they wanted!
      Since the 2010 election of the 112th Congress the House has passed and sent to the Senate( by Constitutional mandate), hundreds of bills (30+ of which are jobs bills), and three budget proposals. They lay, gathering dust, along with 7 Appropiations bills unread and untouched on Harry Reids desk! The Appropiations bills and Budgets are also a Constitutional mandate! The real party of NO is clearly the Progressive Senate!

    • Wade Stanley

      Yeah Chester and that is why we elected them Why is it you liberals dont see what the end response to the changes your party has adopted over the last fifty or sixty years? Think about all you and everyone else would lose out on in a country changed by BHO. Every thoughtless vote given to him and biden will simply bring this country down to a third world nation status. What then? You think when you all are tired of Obamunism you can vote the Constitution and Bill of Rights back? Dream on. I know you are only doing your job manning the Conservative web sites and voiceing your First Amendment Rights in opinion (enjoy them while you can) because thats all you have to do and that IS your JOB. When you tire of the mess the progressives have made of your party, come on over to the light, its a big tent and we are patient and will teach you.

    • John Woodbury

      Chester, I hate to be the one to pop your bubble, but you sir are dog @#$% liar. The DNC sure has their trolls out, or you are the most stupid person on this site. The Republicans control the House, the Democrats the Senate. Look and see where things are not being passed, Senate, yes. Please do some research before telling you DNC talking points here.

  • alboy5

    Dont despair. Vote Mitt

  • Dwight Mann

    How much longer are we going to put up with this kind of tyranny folks? The time for something to change is now.
    This election is bought and paid for, you can tell by the way the PP(presumtive potus) sways. . .

  • DavidL

    So Romney NOW says that there are aspects of Obamacare that he likes. It is correct to say, therefore, that he will NOT repeal Obamacare on his first day, or any day, in office. No surprise here!

    You should have nominated Ron Paul. At least he is a man with integrity. He isn’t a drafter-dodger, tax dodger, incompetent Governor, predator capitalist, and lying wuss who, among many other things, made, or is making, money off the disposal of aborted fetuses (STERICYCLE). Don’t believe it? Release the tax returns!

    • whstanley

      Names, names. What is it that you say about Romney that is Huessien not guilty of. Ron Paul is a good man. I like him. Its just not his time. I believe because you didn’t get your way with his nomination, your gonna shut the world down with your tantrums. Grow up.

      • Rage Fury

        “What is it that you say about Romney that is Huessien not guilty of. ”
        That is at least part of the point that was being made…
        We nominated a flip-flopping loser that will do nothing of significance differently…

    • Rage Fury

      “So Romney NOW says that there are aspects of Obamacare that he likes. ”
      Not surprising since he was pleased that his Romneycare was pretty much the base for Obamacare…
      Saw this writing on the wall months ago and said as much in other forums. There was plenty of evidence and video to support the claim and I was called crazy for my troubles.
      “Romney gonna fix everything, just you wait.”, I was usually told…
      Well he is backpedaling again,only this time on Obamacare, so what’s next?
      Patiently awaiting the next flipflop…

  • dcjdavis

    Not giving up, but I believe we’ve already sunk. We’ve been underwater for a long time, now. We’re not dead yet. Maybe we’ll all wake up before we drown and we’ll find the strength to swim again. Then, maybe, we can wrap the heavy chains around the powers that be in government and throw them to the sharks.

  • boyscout

    Do not discredit the unemployed and welfare recipients from effectively swinging the election to Obama. Multitudes now depend on that government fiat and probably see it as their mode of survival. The incumbent’s thumb presses hard while it’s not raised in the attaboyme position.

  • Ev

    Why are we waiting to Impeach this (>>>) We need to do it now the power of the people is greater than the tyranny this man is purpertrating on Americans. Yes our country is being ruined. If we want another Germany wait until the election if you vote this man another term……..He is the greatest fraud we have been dealt. It is an insult to the Office of President. He lied about so much how can you believe anything he says now. He was never at his mothers’ bed side when she died, Michelle and he never lived as poor as they told the American people. (fact checked) they lived in a 277,000 condo, they held two jobs with tremendous incomes, student loans were paid, check out how Michelle dealt with hospital patients. as for Obama saying he is for the poor why didn’t he help out his brother George?……Hypocrite. We need to wake up before we become the next holocaust.

    • http://yahoo marc lizotte

      Good write up Ev. Check out page 107 on Obamas Health Bill. Then go to Google to check out what Dhimmitude is if you haven`t already! What is in line is that the Muslims ARE exempt from all taxes and penalties from getting FORCED insurance. Also another tid bit for ya, its only 1:42 min. Dr. Barbara Bellar on you tube, if you want a good laugh!

  • Pingback: The Silent Tax Obama Will Use To Win The Election : Personal Liberty Digest™ « shofar37

  • john

    I want Obama out, now with that said, if Mitt. were to do every thing it will take to get this nation out of the hole it is in, the amount of money we have spent through Tarp, QE1,QE2, buying our own US bonds, it will take years to undo the damage (five to ten years or more). Even if people go back to work as soon as Mitt, took office, how will these people get back the way of life they had five years ago (homes, cars, savings, credit, self esteem). When a person has lost every thing, and wants to work instead living on handouts, where does that person go and what does he do when it has been the government standing in the way of that person’s future? This nation was built on hard working people, now every where I look I see people who don’t want to work and want the people who are working and paying taxes, to take care of them.

  • john

    I like to know how the unemployment number is at 8.1% when almost 40% of the nation’s people are not working, I think the person the government hired to count how many people out of work, needs to go back to elementary school and learn some simple math, over 1/3 of the nation does not equal 8.1%.

    • Rage Fury

      The 8.1% unemployment figure you see tossed about is the “feel good number”. There are several numbers for unemployment:
      U-1 Unemployment Rate
      U-2 Unemployment Rate
      U-3 (Official)Unemployment Rate
      U-4 Unemployment Rate
      U-5 Unemployment Rate
      U-6 Unemployment Rate

      I believe the U-6 figure is the most accurate one we have available and is currently at 14.7%.

  • Laurie Lane

    God help us and the USA ! Please, people wake up ! Obama is rapidly destroying the USA !



  • JustAnotherJoe

    Bernake is an idiot, as are most of those in government. This is the same yo-yo that thinks inflation would be good for us. Yes, I am sure that every American would love paying more at the gas pump, the grocery store, and never mind the heating fuel prices that never go down. The fact is, the economy is on an out-of-control train, traveling too fast, and soon-to-be-running head-long into a brick wall. And the fact is, none of them know what the hell to do. I swear, idiocy must be a requirement to be in any government office. Even a first grader (at least in the past) could tell you that spending more money than what you brings in leads to disastrous results. Apparently, even bone head math 101 (general math) is something not required to be in office, either.

  • nnicko

    Okay, let play DUMOCRAT MONOPOLY ! Let’s take our money and payoff our cronies. Roll the dice and then let bail out the auto companies and give up boardwalk & parkplace to help the unions, another payoff, and then for all those unemployed, lets spend more money and make them give-up looking for work with 99 week extension. How much money do we have left.? Not much, but let’s call Benny B. Since we are the govn’t we have the advantage over the other players. Now let’s see….food stamps..let’s show our charity and give those out. to sweeten the voter rolls. Boy, fellow dumocrats, liberals and lefties, let’s do this game again since we played without a budget the last 4 years we will do it again…let’s ask the euro peeps to play, especially Greece, spain and france. they know how to play fair, don’t they ?

  • gettinready

    I couldn’t have said it better


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