Wednesday, November 27, 2013

Told You So...L&C

Sebastian, Johnny L, and JFL have all told you in countless pieces that you can no longer trust our government agencies, the Federal Reserve and our government leaders when it comes to telling the truth about our economy and their policies. Truth comes slowly, but it can't be stopped.
Last week Julius Buckmon, a Census Bureau appointee, confirmed that his supervisors had asked him to fudge his interviews, concerning labor employment. In addition, he revealed that he is not the only one because higher pay came with "positive" numbers. Like we have stated, the fake positive news pushes the stock market higher and all the info is being built on wet sand and the walls are as thick as playing cards.
Keep in mind that our banks were already caught rigging the Libor Loan Rate and Wall Street paid up for selling securities while at the same time were doubling down against the same toxic packages that their agents sold to customers. Don't forget the triple AAA ratings of the rating agencies that helped Wall Street deceive its clients.
Here is another example that reveals manipulation. The Department of Energy(DOE) stated gasoline usage have returned to the pre-crisis level of 2007, however the Bureau of Economic Analysis which follows the same category, but uses sales at the pump to obtain their results which shows no gain, but sees gasoline usage declines for six years in a row. By the way gasoline inventories have had 10 weekly straight builds which counters more usage.
Finally, do you recall the Working Group? Goes back to the first president Bush who gathered together the Fed and Wall Street biggies, to work to stabilize the market when a severe downturn was present. Later, Secretary of Treasury, Paulson did the same thing with a new moniker, Plunge Protection Team(PPT). Well, I can't prove it, but I think the present Fed is buying future index opinions to keep the stock market up. We need a real hero to find out if this serious violation of our free markets is indeed happening. This brings to mind how lucky our nation is to have in the past, true leaders like Andrew Jackson and with Thanksgiving approaching, I thought that you, my dear readers would like to read what a true leader thought of money, the Fed(called the National Bank in his day)and professional people to which we know call, lobbyists.

- "Men when under the influence of interest or passion often delude themselves thoughtlessly, and do not always acknowledge even to themselves the motives upon which they really act...
It was one of the dangers arising from this mammoth power, that its very duties as collecting and disbursing agent brought and other public functionaries and made it acquainted with their wants and enabled it to place them under obligation and create a feeling of dependence or even gratitude without the direct and offensive offer of a bribe."
Liars and Crooks: goes to president Obama who used Air Force One last week to go to Miami for a fund raiser and play golf. This may not actually be either of my categories(L&C)but it displays poor judgment. The cost to taxpayers runs over $200,000 per hour and all the president achieved was personal riches and pleasure.