Next week we should hear about the bailout for Ireland. Just in time for our Thanksgiving Day and the market should give thanks by shooting upwards. However, waiting in the shadows is Portugal, Greece(again), and France. The problem for the European Union is between them and the International Monetary Fund is a limited amount of capital unlike our Federal Reserve which has no restraints. The country which could be the tipping point is Spain. Ireland only(only?) needs $300 billion euros, but Spain will need one trillion euros and the vault is empty. Better get some gold, especially after the pullback and the predictable flight to the dollar when this crisis hits the fan.
It is no different here in the states. There are over 36 states that have a budget gap and this has been going on since before Eisenhower in one form or another. Our government gives it euphemistic terms like earmarks, pork barrel, infrastructure, stimulus, whatever. It is debt that is being added to our national debt because of politics and a lack of discipline by our state governments. Almost every state took some of the last stimulus for their education system, police or fire departments, highway maintenance or similar needs. They are counting on getting even more in 2011 or risk default. Our biggest state by population is first on the list, but this time our printing press sits idle. It is out of ink and the electric bill hasn't been paid because the public has woken up. Praise the Lord!
The real problem will be in austerity. President Sarkozy of France faced riots in the street because he changed their Social Security(they call it - Pension)from 60 to 62. He got elected on change. Does that sound familiar? He has failed to do what he promised to do for France. He may lose the next election like President Obama for similar reasons. Nouriel Roubini believes the EU will collapse because of the weight of its debt. We are looking at the same scenario, but forget about it this week and enjoy your family, friends and love ones. Peace, Be With You.
Friday, November 19, 2010
Saturday, November 13, 2010
QE2...The Invisible Tax and other Manipulations
Last week the Fed made definite the hints of quantitative easing. They will buy Treasuries(no one else will)which will pump another $600 billion into the money supply. This monetizing of debt is a direct revelation of a lie that Helicopter Ben Bernanke made last year when he said that the Fed would not monetize the debt. In addition, Treasury Secretary, Turbo Timmy Geithner, said that the Treasury would not seek to devalue the dollar. These blatant lies are better than Young and Restless.
The bottom line is that the dollar has lost 14% of its purchasing power since last July. This may be good for the rally in the stock market, but it is hardship to Main St. At a time of the longest stretch of long-term unemployment, 43.9 million Americans collecting food stamps and the loss of unemployment benefits, the Fed's action has caused the "silent thief" to strike our households. The price of unleaded gasoline has risen 15% since September and according to the Department of Agriculture the price of corn has risen 47% this year. I place these two examples because next week is a big week for government agencies to make their reports or should I say their manipulated, massage announcements.
The Fed also stated last week that they could do QE because inflation was benign. Yeah, right! How can you place the two examples, one in energy and the other in food with their report? Simple. They don't include the things that we need in our daily life. Why do we let them control our money? Why do they even exist?
In any case a report on retail sales will give a clue to the holiday season and effect market direction. Also, we will get another jobless claims report. I bet that they don't mention or include the 2.3 million workers in California who received pink slips last week - and this is only one state. Instead I bet that you will hear about Amazon hiring 1,300 for Christmas who will be back on the street by January. There will also be a report on housing starts and building permits. They can't manipulate this report, however since all the big banks have stopped their foreclosure proceedings, that aspect could effect the stats.
Finally, under the question of why - I place this tidbit. In 1936 the Federal Register which contains rules and regulations was 2,600 pages in length and today, it is over 80,000 pages. How much more can they manipulate? Go figure.
The bottom line is that the dollar has lost 14% of its purchasing power since last July. This may be good for the rally in the stock market, but it is hardship to Main St. At a time of the longest stretch of long-term unemployment, 43.9 million Americans collecting food stamps and the loss of unemployment benefits, the Fed's action has caused the "silent thief" to strike our households. The price of unleaded gasoline has risen 15% since September and according to the Department of Agriculture the price of corn has risen 47% this year. I place these two examples because next week is a big week for government agencies to make their reports or should I say their manipulated, massage announcements.
The Fed also stated last week that they could do QE because inflation was benign. Yeah, right! How can you place the two examples, one in energy and the other in food with their report? Simple. They don't include the things that we need in our daily life. Why do we let them control our money? Why do they even exist?
In any case a report on retail sales will give a clue to the holiday season and effect market direction. Also, we will get another jobless claims report. I bet that they don't mention or include the 2.3 million workers in California who received pink slips last week - and this is only one state. Instead I bet that you will hear about Amazon hiring 1,300 for Christmas who will be back on the street by January. There will also be a report on housing starts and building permits. They can't manipulate this report, however since all the big banks have stopped their foreclosure proceedings, that aspect could effect the stats.
Finally, under the question of why - I place this tidbit. In 1936 the Federal Register which contains rules and regulations was 2,600 pages in length and today, it is over 80,000 pages. How much more can they manipulate? Go figure.
Saturday, November 6, 2010
Veteran's Day...a Call Back for a Call Down
VETERAN'S, we need you one more time. In this call to duty I'm asking you to do battle against the real enemy - the military complex. These bureaucratic generals have systematically divided our country both literally and figuratively. By the way I do not include the VA in this beat down. The VA people go beyond the call of service by providing the best service that they can achieve even in the face of opposition due to economic restraints. I direct your attention to the Pentagon, NSA, TSA and all the beneficiaries of our front line soldiers who gain economic benefits while real Americans suffer loss of limb, PTSD and death.
Military Complex have locked up all the Southern legislature votes because military bases mean income and jobs in their states. By carefully choosing defense contracts in various other states or building offices in states that do not provide military weapons, the military have ensured their status quo and our nation has become a bully in the world. This goes against the thinking of our Founding Fathers who agreed that entanglements equates to loss of freedom. George Washington highlighted this point in his Farewell Address.
Other actions like limiting journalists to military campaigns, ending the draft to end peace protests and "emergency" proclamations which circumvent democratic decision making have all but ensured their power grab. We will need your voices to our government which will require a Profiles in Courage vote stop these mad, greedy, short-sighted men from destroying our nation not from outside forces, but economically as the military owns the budget and it is through their wastefulness of resources that we find ourselves in economic turmoil. The military owns the media and through it have brain washed our citizens about dangers to the public like terrorism which only puts more stars on undeserving shoulders and squanders out future.
This is the same scenario that destroyed modern Russia not Reagan, the same for England, the same for Germany, the same for France, the same for ancient Greece or Rome.
A quick review of our military since WWll.
In Korea the Chinese flew their Russian built Migs from China and attacked our troops. What did the military do when they already had the atomic bomb? NOTHING! Why did they continue the course of acquiring more bombs when they were afraid to use them? That war is technically not over, however the stupidity of thinking remains.
Viet Nam was a call to war because the "domino theory" in Southeast Asia was needed to stop Communism. We got ten years of death because of this LIE.
By creating a professional military we ended peace protests, developed indifference at the polls which the status quo loves and set up the small war concept that maintains power. Think Grenada or Panama. How about the lie of Weapons of Mass Destruction in Iraq? Everything that they have said is a lie and all they do is keep spinning more lies clouding our judgement.
No More Wars! Return our nation to the thinking of our Founding Fathers. We are not the police force for the world. Our mission is to promote the general welfare. Our Founders set our nation on a peaceful course, and we can express this together in song, "GIVE PEACE A CHANCE" or in this universal prayer: Lead me from death to life, from falsehood to truth. Lead me from despair to hope, from fear to trust. Lead me from hate to love, from war to peace. Let peace fill my heart, my world, my universe. Amen.
Military Complex have locked up all the Southern legislature votes because military bases mean income and jobs in their states. By carefully choosing defense contracts in various other states or building offices in states that do not provide military weapons, the military have ensured their status quo and our nation has become a bully in the world. This goes against the thinking of our Founding Fathers who agreed that entanglements equates to loss of freedom. George Washington highlighted this point in his Farewell Address.
Other actions like limiting journalists to military campaigns, ending the draft to end peace protests and "emergency" proclamations which circumvent democratic decision making have all but ensured their power grab. We will need your voices to our government which will require a Profiles in Courage vote stop these mad, greedy, short-sighted men from destroying our nation not from outside forces, but economically as the military owns the budget and it is through their wastefulness of resources that we find ourselves in economic turmoil. The military owns the media and through it have brain washed our citizens about dangers to the public like terrorism which only puts more stars on undeserving shoulders and squanders out future.
This is the same scenario that destroyed modern Russia not Reagan, the same for England, the same for Germany, the same for France, the same for ancient Greece or Rome.
A quick review of our military since WWll.
In Korea the Chinese flew their Russian built Migs from China and attacked our troops. What did the military do when they already had the atomic bomb? NOTHING! Why did they continue the course of acquiring more bombs when they were afraid to use them? That war is technically not over, however the stupidity of thinking remains.
Viet Nam was a call to war because the "domino theory" in Southeast Asia was needed to stop Communism. We got ten years of death because of this LIE.
By creating a professional military we ended peace protests, developed indifference at the polls which the status quo loves and set up the small war concept that maintains power. Think Grenada or Panama. How about the lie of Weapons of Mass Destruction in Iraq? Everything that they have said is a lie and all they do is keep spinning more lies clouding our judgement.
No More Wars! Return our nation to the thinking of our Founding Fathers. We are not the police force for the world. Our mission is to promote the general welfare. Our Founders set our nation on a peaceful course, and we can express this together in song, "GIVE PEACE A CHANCE" or in this universal prayer: Lead me from death to life, from falsehood to truth. Lead me from despair to hope, from fear to trust. Lead me from hate to love, from war to peace. Let peace fill my heart, my world, my universe. Amen.
Saturday, October 30, 2010
TRICK OR TREAT?...the lie by both of our political parties
TV Political Ads
Are you tried of them yet? I know I am, "I'm gonna cut taxes, create jobs and lower the deficit." Yeah, right? It was two years ago that now, President Obama campaigned on health care under the first payer concept, end the wars, make Wall Street accountable with transparency and offer a CHANGE in Washington. I predict that Republicans will win some seats and I further predict that that is the Halloween trick and all the treats will be for the moneyed class. There will be continuous unemployment, higher taxes and still higher deficit and of course, the military complex will ensure that we will spend another trillion, waste lives and be active in some war somewhere protecting their retirement as the world will develop a hatred of the US because of this policy.
PIONEER
We need to have the courage to form a new political party that mirrors the thinking of our Founding Fathers. The Tea Party began the process, however they have been taken over by extremists right wing Republicans. They have words but no substance. If you want jobs, change our pseudo free trade policy to protectionism like the rest of the world. Exports are only 14% of our economy while 86% suffers. Protect the bigger number and we will immediately lower the deficit, redevelop our economic base in manufacturing and the effects will spread throughout. With jobs will come revenue, less foreclousures, more home buying and the saving of the real middle class not some out-of-touch $250,000 income that only 3% achieve.
Are you tried of them yet? I know I am, "I'm gonna cut taxes, create jobs and lower the deficit." Yeah, right? It was two years ago that now, President Obama campaigned on health care under the first payer concept, end the wars, make Wall Street accountable with transparency and offer a CHANGE in Washington. I predict that Republicans will win some seats and I further predict that that is the Halloween trick and all the treats will be for the moneyed class. There will be continuous unemployment, higher taxes and still higher deficit and of course, the military complex will ensure that we will spend another trillion, waste lives and be active in some war somewhere protecting their retirement as the world will develop a hatred of the US because of this policy.
PIONEER
We need to have the courage to form a new political party that mirrors the thinking of our Founding Fathers. The Tea Party began the process, however they have been taken over by extremists right wing Republicans. They have words but no substance. If you want jobs, change our pseudo free trade policy to protectionism like the rest of the world. Exports are only 14% of our economy while 86% suffers. Protect the bigger number and we will immediately lower the deficit, redevelop our economic base in manufacturing and the effects will spread throughout. With jobs will come revenue, less foreclousures, more home buying and the saving of the real middle class not some out-of-touch $250,000 income that only 3% achieve.
Saturday, October 23, 2010
Wall Street Rallies...on the lie of economic gains
Earnings indicate that the rally in the stock market will continue according to the shills and pundits, however many of those gains came on the backs of laid of workers(they call it job productivity and cost cutting), continuing the out-sourcing of jobs(increased by 30% in 2010)and QE2(the devaluing of our dollar for the profits for the banking industry, lobbyists for US companies that export and the hope that the housing industry will stabilize.
Time for a Haircut
If the truth in reporting by the media were complete, our corporate gains due to sales growth did not happen. You cut workers hours and you make them do more with less is the facts behind those profits. Foreign affiliates of US companies increased employment 30% to 10 million on foreign shores while at home the US version of these same companies lost a total of 5.5 million workers since 2001. It continues when Dell announced it is closing its last large US facility in North Carolina. Our economic job haircut comes from the lie of free trade. Isn't it a shame that we invented items like the cell phone and 1.2 billion of them were manufactured elsewhere? Rawlings is the official supplier of Major League Baseball, but not made here. It is the same for many brands like Converse, Hanes and almost any US company. Keep in mind that sovereign wealth funds and foreign companies have gobbled up the likes of Bud, Gerber and many more.
Finally, when the Fed devalues our dollar we all suffer daily due to the rising cost for food and energy while the few exporting companies(we only export 14% of GDP)made gains due to this decline in the value of the dollar. So, did any of the Feds actions help every day Americans? No! Terminate the Fed. Place protective tariffs on all imports and swing the pendulum back to job security and social mobility at home. Of course, if this policy were to be adopted, Wall St. would tank - let it, afterall the Yankees lost.
Time for a Haircut
If the truth in reporting by the media were complete, our corporate gains due to sales growth did not happen. You cut workers hours and you make them do more with less is the facts behind those profits. Foreign affiliates of US companies increased employment 30% to 10 million on foreign shores while at home the US version of these same companies lost a total of 5.5 million workers since 2001. It continues when Dell announced it is closing its last large US facility in North Carolina. Our economic job haircut comes from the lie of free trade. Isn't it a shame that we invented items like the cell phone and 1.2 billion of them were manufactured elsewhere? Rawlings is the official supplier of Major League Baseball, but not made here. It is the same for many brands like Converse, Hanes and almost any US company. Keep in mind that sovereign wealth funds and foreign companies have gobbled up the likes of Bud, Gerber and many more.
Finally, when the Fed devalues our dollar we all suffer daily due to the rising cost for food and energy while the few exporting companies(we only export 14% of GDP)made gains due to this decline in the value of the dollar. So, did any of the Feds actions help every day Americans? No! Terminate the Fed. Place protective tariffs on all imports and swing the pendulum back to job security and social mobility at home. Of course, if this policy were to be adopted, Wall St. would tank - let it, afterall the Yankees lost.
Saturday, October 16, 2010
Mid-Term Elections:10 Things I Run On...but won't see
The media airwaves are full of political campaign ads. They mostly inform you of how bad the opposing candidate, party or resolution and or, how in these tough economic times they would create jobs, cut spending, promote clean energy and will work for you, the constituency.
First of all, no one can create jobs. Candidates or resolutions can enact legislation or policy that would enhance opportunities in certain fields. To cut taxes for companies or individuals does not translate into hiring. If someone talks clean energy, but does not back made in America, all they are doing is exporting our stimulus to foreign shores like China. Finally, just two years ago, these same media ads stated the same issues and what have we got - the same status quo. President Obama is a failure. I voted for him because he campaigned on ending the two wars, endorsed the concept of first payer, would make the financial industry accountable, endorse transparency, especially with derivatives among other promises. The only thing that he did that I agreed with is the Ledbetter Act for fair wages between men and women. He is a Democrat in a Republican coat. He has made things worse with exploding debt, a status quo health plan, continuing the war policy and the present crisis with mortgage foreclosure reveal how poor his legislation deals with the broken financial industry who disregard rules and regulations at taxpayer's expense for their profit. This is NO CHANGE. It is in this light that I present 10 concepts if I were running for office.
* I would endorse a resolution to repeal the Taft-Hartley Act of 1947. This mockery destroyed the labor movement and don't BS me about greedy unions when CEO pay in relationship to labor was 44 to 1 in 1980 and in 2010 it is 344 to 1. People cannot afford cars, homes because labor does not make a living wage. The pendulum is so far to the right that producers are finally afraid as their brand name originally built with union labor, was outsourced to foreign soil, is now under threat.
* I would call for the end of the two Wars, close almost all foreign bases, re-institute the draft and disband TSA, border guards and similar agencies. In their place I would put the returning military people to protect our airports, borders and ports of call. This one act would eliminate one-half trillion dollars from the budget. In fact, it would lead to a balance budget even without other cuts.
* In a related field I would extend the budget of the FDA. This agency can only inspect 1% of all incoming containers. This is ridiculous and dangerous. Under this expansion I would also place troops to inspect cargo. I would demand RFID tags for accountability. Follow this small list and understand the impact with fake, dangerous illegal items of contraband. In 2009 there was seized over $11 million in illegal drugs, over $4.3 million in electrical items, over $3.2 million in tech components, over $3.7 million in phony perfume and over $2.9 million in fake sunglasses. Keep in mind that we only inspect 1%. Imagine if we did real inspections. These numbers would explode and the by-product would be the protection of jobs.
* Endorse a resolution to reevaluate all passed pork barrel legislation and thus end bridges to nowhere, studies for idiots, etc.
* In a related act I would endorse a resolution that stated that any originator of any legislation has the power to veto any riders, amendments or additions to his act. Did you know that under the health plan is section 9006 of the Patient Protection and Affordable Care Act. It tracks gold purchases and sales which opens the door to tax or confiscate your gold in any form. Enough B.S. and deceit!
* A bill to terminate the Federal Reserve. Did you know that they are creating debt by printing dollars to buy Treasury debt because no one will purchase our long term debt because of fear that we will default. And while we are waiting for that dreaded day, we suffer with the loss of purchasing power in the dollar or inflation.
* Educate the public about the lie of the Chinese economy. For example, when Ford built its third auto plant in China worth $500 million and Honda opened a motorcycle plant valued the same, the Chinese say their economy grew at $1 billion dollars and this is not true. Say, you have a store and you lease space to a jewelery stand who pays you rent. Maybe more people will enter your store, however if they don't buy from you did your economy grow? You cannot include the jewelery stands income as yours, only the rent, but the Chinese include everything and this is fraud.
* I would endorse a resolution to exit the WTO. The Founding Fathers said make no entanglements and this along with NAFTA and CAFTA are why we suffer from SHAFTA!
* I would endorse a resolution to form a national committee that would take the place of the Fed. They would answer to Congress to establish the national interest rate which would be set once a year and this group would have equal amount of workers to producers and only one banker.
* In a related resolution I would draft a call to return to the gold standard. If we had a gold standard we could place tariffs on all imported fiat items for the difference between gold and their fiat currency. We should have done this in the past and we would never be in the position that we find ourselves today. A by-product of this act would be the natural protection of our jobs and economy. Keep in mind that in anything that is passed must contain the clause to buy made in America whenever possible and don't let me get started on the Supreme Court, but then again, it is covered in my book, " The Evolution of Democracy."
First of all, no one can create jobs. Candidates or resolutions can enact legislation or policy that would enhance opportunities in certain fields. To cut taxes for companies or individuals does not translate into hiring. If someone talks clean energy, but does not back made in America, all they are doing is exporting our stimulus to foreign shores like China. Finally, just two years ago, these same media ads stated the same issues and what have we got - the same status quo. President Obama is a failure. I voted for him because he campaigned on ending the two wars, endorsed the concept of first payer, would make the financial industry accountable, endorse transparency, especially with derivatives among other promises. The only thing that he did that I agreed with is the Ledbetter Act for fair wages between men and women. He is a Democrat in a Republican coat. He has made things worse with exploding debt, a status quo health plan, continuing the war policy and the present crisis with mortgage foreclosure reveal how poor his legislation deals with the broken financial industry who disregard rules and regulations at taxpayer's expense for their profit. This is NO CHANGE. It is in this light that I present 10 concepts if I were running for office.
* I would endorse a resolution to repeal the Taft-Hartley Act of 1947. This mockery destroyed the labor movement and don't BS me about greedy unions when CEO pay in relationship to labor was 44 to 1 in 1980 and in 2010 it is 344 to 1. People cannot afford cars, homes because labor does not make a living wage. The pendulum is so far to the right that producers are finally afraid as their brand name originally built with union labor, was outsourced to foreign soil, is now under threat.
* I would call for the end of the two Wars, close almost all foreign bases, re-institute the draft and disband TSA, border guards and similar agencies. In their place I would put the returning military people to protect our airports, borders and ports of call. This one act would eliminate one-half trillion dollars from the budget. In fact, it would lead to a balance budget even without other cuts.
* In a related field I would extend the budget of the FDA. This agency can only inspect 1% of all incoming containers. This is ridiculous and dangerous. Under this expansion I would also place troops to inspect cargo. I would demand RFID tags for accountability. Follow this small list and understand the impact with fake, dangerous illegal items of contraband. In 2009 there was seized over $11 million in illegal drugs, over $4.3 million in electrical items, over $3.2 million in tech components, over $3.7 million in phony perfume and over $2.9 million in fake sunglasses. Keep in mind that we only inspect 1%. Imagine if we did real inspections. These numbers would explode and the by-product would be the protection of jobs.
* Endorse a resolution to reevaluate all passed pork barrel legislation and thus end bridges to nowhere, studies for idiots, etc.
* In a related act I would endorse a resolution that stated that any originator of any legislation has the power to veto any riders, amendments or additions to his act. Did you know that under the health plan is section 9006 of the Patient Protection and Affordable Care Act. It tracks gold purchases and sales which opens the door to tax or confiscate your gold in any form. Enough B.S. and deceit!
* A bill to terminate the Federal Reserve. Did you know that they are creating debt by printing dollars to buy Treasury debt because no one will purchase our long term debt because of fear that we will default. And while we are waiting for that dreaded day, we suffer with the loss of purchasing power in the dollar or inflation.
* Educate the public about the lie of the Chinese economy. For example, when Ford built its third auto plant in China worth $500 million and Honda opened a motorcycle plant valued the same, the Chinese say their economy grew at $1 billion dollars and this is not true. Say, you have a store and you lease space to a jewelery stand who pays you rent. Maybe more people will enter your store, however if they don't buy from you did your economy grow? You cannot include the jewelery stands income as yours, only the rent, but the Chinese include everything and this is fraud.
* I would endorse a resolution to exit the WTO. The Founding Fathers said make no entanglements and this along with NAFTA and CAFTA are why we suffer from SHAFTA!
* I would endorse a resolution to form a national committee that would take the place of the Fed. They would answer to Congress to establish the national interest rate which would be set once a year and this group would have equal amount of workers to producers and only one banker.
* In a related resolution I would draft a call to return to the gold standard. If we had a gold standard we could place tariffs on all imported fiat items for the difference between gold and their fiat currency. We should have done this in the past and we would never be in the position that we find ourselves today. A by-product of this act would be the natural protection of our jobs and economy. Keep in mind that in anything that is passed must contain the clause to buy made in America whenever possible and don't let me get started on the Supreme Court, but then again, it is covered in my book, " The Evolution of Democracy."
Saturday, October 2, 2010
He who controls the money...makes the rules
Thursday ended the month of September and the third quarter in the economic calendar. The stock market had its best fall month since 1939. The stats all indicated that the recession was over and although admittedly slow, the economy is back on the positive track. Gee, they admitted that the economy grew less then expected. Why? Because these same gurus said that the economy would grow at a 3.6% clip by this period last year and it grew at only a 1.6% snail pace. You see, at 1.6% growth rate, the economy is actually getting worse in terms of unemployment due to school grads entering the market place, immigration, both legal and illegal and the continuing practice of out-sourcing of jobs.
Their Facts versus Mine
Last week the National Bureau of Economic Research said that the recession was over and it ended in 2009. However, the census bureau reported that 43.9 million Americans are now living in poverty. This is more than the combined populations of Canada and Austria. Another government report stated that personal income grew in August at 0.5 percent. Do you know anyone who got a pay increase? Talk about the 6-degrees of separation. Well, according to this report part of the increase is due to the emergency extention of unemployment benefits. I guess if your unemployment ran out and you have no money, but miraculously you get an extention and now, you have money - well then, that is a pay increase. Again, those who create the money control the rules. Nevertheless, by my stats two more banks failed Friday which brings the total to 129 for the year. Failing banks will soon pass the 140 that was recorded last year which was the worse year since 1992. Yeah, we are on the positive track according to the rule makers. I wonder if they considered the survey by the National Inflation Association(NIA)which concluded that 77% of Americans are living paycheck-to-paycheck or the fact that August broke the record for foreclosures which it set earlier in the year. By the way home prices have fallen year-over-year and for eight straight quarters according to the FHA(Federal Housing Agency). Another government stat states that consumer spending increased in August because again, personal income grew in August. Isn't it amazing that consumer spending on gasoline and food is included in stats for consumer spending and yet, according to the CPI(Consumer Price Index)food and energy are NOT included which is why inflation is subdued, nada, zipo! He who controls the money makes the rules...except this game is corrupt.
Their Facts versus Mine
Last week the National Bureau of Economic Research said that the recession was over and it ended in 2009. However, the census bureau reported that 43.9 million Americans are now living in poverty. This is more than the combined populations of Canada and Austria. Another government report stated that personal income grew in August at 0.5 percent. Do you know anyone who got a pay increase? Talk about the 6-degrees of separation. Well, according to this report part of the increase is due to the emergency extention of unemployment benefits. I guess if your unemployment ran out and you have no money, but miraculously you get an extention and now, you have money - well then, that is a pay increase. Again, those who create the money control the rules. Nevertheless, by my stats two more banks failed Friday which brings the total to 129 for the year. Failing banks will soon pass the 140 that was recorded last year which was the worse year since 1992. Yeah, we are on the positive track according to the rule makers. I wonder if they considered the survey by the National Inflation Association(NIA)which concluded that 77% of Americans are living paycheck-to-paycheck or the fact that August broke the record for foreclosures which it set earlier in the year. By the way home prices have fallen year-over-year and for eight straight quarters according to the FHA(Federal Housing Agency). Another government stat states that consumer spending increased in August because again, personal income grew in August. Isn't it amazing that consumer spending on gasoline and food is included in stats for consumer spending and yet, according to the CPI(Consumer Price Index)food and energy are NOT included which is why inflation is subdued, nada, zipo! He who controls the money makes the rules...except this game is corrupt.
Subscribe to:
Posts (Atom)