Congress’s Bipartisan Budget… “Deal” or Budget “Breaker”

December 11, 2013 in Congress, Debt Crisis, Debt Limit, Depression, Economic Deception, Economy, Political Class, Political Deception, Political Incompetence, Quantitative Easing, Republicans Vs. Tea Party, Sequestration, Taxiation with Representation

SequesterWe have a Bipartisan “Deal” in Congress that will roll back the Sequester and add back at least $63B in additional Debt. The “Deal” will result in raising Revenue to offset the new spending and to make it appear like spending has been reduced! For those of you that don’t understand the Washington jargon, raising “Revenue” means raising “Taxes”.  

When  our good friend of Liberty and Fiscal Responsibility, Louie Gohmert  (R-TX) has qualms about the ” Deal”, then Houston, we have a problem!

The “Deal” is great for most of our “Political Class” on both sides of the aisle that just want to continue their comfy spending habits without any accountability,   interference or distressing phone calls from their constituents. Hence, this “Deal compromise” promises to exacerbate and accelerate our present economic ticking time-bomb.

On his “The Economic Collapse Blog” of December 10th, 2013, with our economy in such a precarious situation, Michael Snyder asks, How Far Will Stocks Fall This Time When The Fed Decides To Slow Down Quantitative Easing? Read his article at  http://theeconomiccollapseblog.com/archives/how-far-will-stocks-fall-this-time-when-the-fed-decides-to-slow-down-quantitative-easing

Chart-By-DayOnBay-425x328

We already have a monumental Federal Deficit of $17.2 Trillion and super-Monumental Unfunded Liabilities of anywhere between $60 and $90 Trillion “…or 550 percent of our GDP. And the debt per household is more than 10 times the median family income.”

Folks, we have Local, State and Federal Governments that are totally out of control and are literally taxing us to death and a Federal Reserve that has been feeding $85 B/ month in Quantitative Easing into our banking system. Every time the Fed attempts to withdraw what some characterize as the QE “Heroin Fix” our economy pulls back. Will the imminent pull back by the Federal Reserve of of QE3 be the trigger that will plunge us into an unprecedented economic Collapse?

Whatever the case, as you will see from the following signs, Americans can no longer afford the debt being placed upon us and future generations by our Legislators without some sort of personal financial buckling!

The time has come to stand up and be counted. Enough is Enough! Our Governments continue to squander and misappropriate our hard earned treasure on cronyism. Career Congressmen and Senators become multimillionaires while working as public servants.

Meanwhile, the “Standard of Living” for American who work deteriorates as both the “Government class” and their rapidly growing “class of non-producer perpetrators” at the Local, State and Federal levels continue to feed on and to suck the “Systems” dry.

The following are the first 10 signs that Americans will be wiped out by an Economic Collapse and  are excerpted from an article by Michael Snyder, on June 24th, 2013, in his Economic Collapse Blog at :  http://theeconomiccollapseblog.com/archives/how-far-will-stocks-fall-this-time-when-the-fed-decides-to-slow-down-quantitative-easing

#1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck. But most Americans are acting as if their jobs will always be there. But the truth is that mass layoffs can occur at any time. In fact, it just happened at one of the largest law firms in New York City.

#2 27 percent of all Americans do not have even a single penny saved up.

#3 46 percent of all Americans have $800 or less saved up.

#4 Less than one out of every four Americans has enough money stored away to cover six months of expenses.

#5 Wages continue to fall even as the cost of living continues to go up. Today, the average income for the bottom 90 percent of all income earners in America is just $31,244. An increasing percentage of American families are just trying to find a way to survive from month to month.

#6 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.

#7 Small business is becoming an endangered species in America. In fact, only about 7 percent of all non-farm workers in the United States are self-employed at this point. That means that the vast majority of Americans are depending on someone else to provide them with an income. But what is going to happen as those jobs disappear?

#8 In 1989, the debt to income ratio of the average American family was about 58 percent. Today it is up to 154 percent.

#9 Today, a higher percentage of Americans are dependent on the government than ever before. In fact, according to the U.S. Census Bureau 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government. So what is going to happen when the government handout gravy train comes to an end?

#10 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.

 

 

 

12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here

March 4, 2013 in 2nd Amendment, Abuse of Power, America's Collapse, America's Heritage, Congress, Constitution, Cooking the Books, Deval Patrick, Economic Deception, Generational Theft, Gun Control, Intimidation, Liars, Liberty, Liberty in Jeopardy, Obamanation, Patriotism, Political Deception, Political Incompetence, President Obama, Propaganda, Quantitative Easing, Sequestration, US Sovereignty

Mark SteynOur government is lying to us. The reason Barack Hussein Obama began his strategy of “Blame” over “Sequestration” is because he knows that the economic collapse of the US economy is coming and he needs a scapegoat! His “full court press” in the media is perpetuating his grievous “lie” that an “Itsy Bitsy Teeny Weeny” Sequestration cut will cause catastrophic damage to our economy.

Besides the following article, other independent economists, who, using the same data as our US Bureau of  Labor Statistics reach the entirely different conclusion that our unemployment rates are INCREASING, not DECREASING. 

Thomas Jefferson said that, To preserve our independence, we must not let our rulers load us down with perpetual debt….I am for a government rigorously frugal and simple.”  We have thrown his warnings to the wind and now because of our economic gluttony of QE1, QE2, QE3, QE4 etc., face the loss of our Independence and sovereignty as well. 

Folks, an economic collapse will place our  Bill of Rights and our Constitution in grave jeopardy! The dumbing down of  our last generation has left them without an understanding of the source of the Rights  that they enjoy.

Without the Bill of Rights,  our 2nd Amendment and our ability to protect and preserve our Constitution and our “Natural Rights” will be abolished.  All of the proposed  State and Federal Gun Laws being proposed would have practically no affect on stopping incidents like Newtown while having a vital affect on our Constitutional right to preserve and protect our families and country.   

This is a time for action! Don’t allow either the Obama or  the Patrick Administrations to take away any more of your Constitutional Rights! Call your State and Senators and representatives and tell them NO on Unconstitutional Gun Control measures and  on our “drunken sailor” Spending. 

12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here

 By Michael, on March 3rd, 2013�

12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost HereAre we running out of time?  For the last several years, we have been living in a false bubble of hope that has been fueled by massive amounts of debt and bailout money.  This illusion of economic stability has convinced most people that the great economic crisis of 2008 was just an “aberration” and that now things are back to normal.  Unfortunately, that is not the case at all.  The truth is that the financial crash of 2008 was just the first wave of our economic troubles.  We have not even come close to recovering from that wave, and the next wave of the economic collapse is rapidly approaching.  Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency.  As each wave of the crisis hits us, the solutions that our leaders will present to us will involve even more debt and even more money printing.  And each time, those “solutions” will only make our problems even worse.  Right now, events are unfolding in Europe and in the United States that are pushing us toward the next major crisis moment.  I sincerely hope that we have some more time before the next crisis overwhelms us, but as you will see, time is rapidly running out.

The following are 12 things that just happened that show the next wave of the economic collapse is almost here…

#1 According to TrimTab’s CEO Charles Biderman, corporate insider purchases of stock have hit an all-time low, and the ratio of corporate insider selling to corporate insider buying has now reached an astounding 50 to 1….

While retail is being told to buy-buy-buy, Biderman exclaims that “insiders at U.S. companies have bought the least amount of shares in any one month,” and that the ratio of insider selling to buying is now 50-to-1 – a monthly record.

#2 On Friday we learned that personal income in the United States experienced its largest one month decline in 20 years

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That’s the most dramatic decline since January 1993, according to the Commerce Department.

#3 In a stunning move, Michigan Governor Rick Snyder says that he will appoint an emergency financial manager to take care of Detroit’s financial affairs…

Snyder, 54, took a step he avoided a year ago, empowering an emergency financial manager who can sweep aside union contracts, sell municipal assets, restructure services and reorder finances. He announced the move yesterday at a public meeting in Detroit.

If this does not work, Detroit will almost certainly have to declare bankruptcy.  If that happens, it will be the largest municipal bankruptcy in U.S. history.

#4 On Friday it was announced that the unemployment rate in Italy had risen to 11.7 percent.  That was a huge jump from 11.3 percent the previous month, and Italy now has the highest unemployment rate that it has experienced in 21 years.

#5 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent.

#6 On Friday it was announced that the unemployment rate in the eurozone as a whole had just hit a brand new record high of 11.9 percent.

#7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent, and it is being projected that it will reach30 percent by the end of the year.

#8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters filled the streets of Lisbon and other Portuguese cities to protest the austerity measures that are being imposed upon them.  It was reportedly the largest protest in the history of Portugal.

#10 According to Goldman Sachs, bank deposits declined all over Europe during the month of January.

#11 Over the weekend, the deputy governor of China’s central bank declared that China is prepared for a “currency war“…

A top Chinese banker said Beijing is “fully prepared” for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China’s central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.

#12 Italy is an economic basket case at this point, and the political gridlock in Italy is certainly not helping matters.  Former comedian Beppe Grillo’s party could potentially tip the balance of power one way or the other in Italy, and over the weekend he made some comments that are really shaking things up over in Europe.  For one thing, he is suggesting that Italy should hold a referendum on the euro…

“I am a strong advocate of Europe. I am in favor of an online referendum on the euro,” Beppe Grillo told Bild am Sonntag.

Such a vote would not be legally binding in Italy, where referendums can only be used to repeal laws or parts of laws, but would carry political weight. Grillo has said in the past that membership of the euro should be up to the Italian people.

In addition, Grillo is also suggesting that Italy’s debt has gotten so large that renegotiation is the only option…

In an interview with a German magazine published on Saturday, Mr Grillo said that “if conditions do not change” Italy “will want” to leave the euro and return to its former national currency.

The 64-year-old comic-turned-political activist also said Italy needs to renegotiate its €2 trillion debt.

At 127 per cent of gross domestic product (GDP), it is the highest in the euro zone after Greece.

“Right now we are being crushed, not by the euro, but by our debt. When the interest payments reach €100 billion a year, we’re dead. There’s no alternative,” he told Focus, a weekly news magazine.

He said Italy was in such dire economic straits that “in six months, we will no longer be able to pay pensions and the wages of public employees.”

And of course government debt has taken center stage in the United States as well.

The sequester cuts have now gone into effect, and they will definitely have an effect on the U.S. economy.  Of course that effect will not be nearly as dramatic as many Democrats are suggesting, but without a doubt those cuts will cause the U.S. economy to slow down a bit.

And of course the U.S. economy has already been showing plenty of signs of slowing down lately.  If you doubt this, please see my previous article entitled “Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money“.

So what comes next?

Well, everyone should keep watching Europe very closely, and it will also be important to keep an eye on Wall Street.  There are a whole bunch of indications that the stock market is at or near a peak.  For example, just check out what one prominent stock market analyst recently had to say

“Every reliable technical tool is warning of major peaking action,” said Walter Zimmerman, the senior technical analyst at United-ICAP. “This includes sentiment, momentum, classical chart patterns, and Elliott wave analysis.

“Most of the rally in the stock market since 2009 can be chalked up to the Federal Reserve’s attempt to create a ‘wealth effect’ through higher stock market prices. This only exacerbates the downside risk. Why? The stock market no is longer a lead indicator for the economy. It is instead reflecting  Fed manipulation. Pushing the stock market higher while the real economy languishes has resulted in another bubble.

“The next leg down will not be a partial correction of the advance since the 2009 lows. It will be another major financial crisis. The worst is yet to come.”

Sadly, most people will continue to deny that anything is wrong until it is far too late.

Many areas of Europe are already experiencing economic depression, and it is only a matter of time before the U.S. follows suit.

Time is running out, and I hope that you are getting ready.

So what do you think?

How much time do you believe that we have left before the next wave of the economic collapse strikes?

 

Jeff Rowley Big Wave Surfer wipeout Photo Jaws Peahi by Xvolution Media

Read more at:  http://theeconomiccollapseblog.com/

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Obama To Boehner: “We Don’t Have A Spending Problem” -WJS

January 7, 2013 in Debt Crisis, Economic, Economic Deception, Economy, Fiscal Cliff, Gas Price, Obama-Nomics, Obama's America 2016, Obamanation, President Obama, Propaganda, Quantitative Easing, Redistribution of Wealth, Tax Hike

Obama

Obama To Boehner: “We Don’t Have A Spending Problem” – WJS
Pelosi: More Tax Revenues Must Be Part Of Any Debt Deal
Boehner: Obama Blames “Health Care Problem” For Deficit -WSJ
Democrats Pushing For Another $1 Trillion In Tax Revenue – Rpt

 

Obama to Boehner: ‘We Don’t Have a Spending Problem’

By Ben Shapiro, Breitbart.com

In an interview with Stephen Moore of the Wall Street Journal, newly re-elected House Speaker John Boehner (R-OH) opened up about President Obama’s utter unwillingness to cut a single dollar from federal spending. In a stunning admission, Obama reportedly told Boehner, “We don’t have a spending problem.”

Boehner added that President Obama continues to maintain that America’s federal deficit is caused not by governmental overspending but by “a health-care problem.” Said Boehner, “They blame all of the fiscal woes on our health-care system.” Boehner told Obama, “Clearly we have a health-care problem, which is about to get worse with Obamacare. But, Mr. President, we have a very serious spending problem.” Obama eventually replied, “I’m getting tired of hearing you say that.”

Obama may be tired of hearing Boehner talk about a spending problem, particularly when Obama has been re-elected on the basis of ignoring government spending. Nonetheless, America does have a spending problem, which Obama is steadfastly ignoring. “He’s so ideological himself,” Boehner explained, “and he’s unwilling to take on the left of his own party.” That’s why Obama refused to raise the retirement age for Medicare after agreeing to it. “He admitted in meetings that he couldn’t sell things to his own members,” said Boehner. “But he didn’t even want to try … We could never get him to step up.”

Read more: http://nation.foxnews.com/government-spending/2013/01/07/obama-boehner-we-dont-have-spending-problem?intcmp=fly#ixzz2HNU1yTAL

Have we gone beyond the Tipping Point?

September 28, 2012 in America's Collapse, Audit the Fed, Congress, Constitutional, Debt Crisis, Economic Deception, Economy, Election, Freedom, Obama's America 2016, Politics, President Obama, Quantitative Easing, Restoring Courage, Socialist, The Hope and The Change, The Stakes for the 2012 Election, United States Constitution, United States Sovereignty, Welfare, Welfare Fraud

Just another Obama Abomination!

In 2011, our Government has provided  ” free give-away phones to welfare clients that has cost you and I $1.6B and is climbing. This Administration is buying votes and allegiances with our tax dollars in accordance with Obama’s  October 19, 1998 Loyola College forum on community organizing and policy making  speech. In that speech Obama  stated that he favored a government redistribution of wealth and more importantly, he viewed welfare recipients and “the working poor” as “a majority coalition” that could be mobilized to help advance progressive policies and elect their champions.


The Barack Hussein Obama Administration is purchasing votes with programs like the “Obama Phones” even though we do not have the tax revenues to pay for these  outrages. Consequently,  Ben  Bernake and his Fed minions have been purchasing  as much as 80% of our $16T National Debt associated with these “Welfare Frauds” with increasingly worthless US paper dollars.  This monumental US debt accumulation, using  Quantitative Easing (Another name for selling/buying US Bonds) will result at some point in the near future in an Inflationary Spiral that will make Germany’s Weimar debacle seem like a cake walk!  

The Washington Examiner
Sep 28, 2012 | 07:01 PM

Beltway Confidential

Where do “Obama phones” come from?

September 27, 2012 | 2:25 pm

The video of an Obama supporter bragging about having an “Obama phone” has gone viral on the web, but where do these “free cell phones” come from?

The program is called Lifeline, established in 1984, originally created to subsidize landline phone service for low income Americans, funded by government-collected telecommunication fees, paid by consumers.

In 2008, the program was expanded to support cell phones which quickly escalated the cost of the program. In 2008 the program cost $772 million, but by 2011 it cost $1.6 billion.

A 2011 audit found that 269,000 wireless Lifeline subscribers were receiving free phones and monthly service from two or more carriers. Several websites have been created to promote “free” government cell phones, including the”The Obama Cell Phone” website at Obamaphone.net.

Rep. Tim Griffin R-Ark. has proposed a bill to eliminate federal subsidies for free cell phones and has produced a great YouTube videohighlighting the runaway cost of the program. The program has also been highlighted for reform by Senator Claire McCaskill D-Mo.

Pressure to reform the program led the FCC to announce an effort in February to “reduce the potential for fraud while cutting red tape for consumers and providers” by the end of 2013.

 

 

 

Bernake’s QE3 Places America on the Road to Financial Armageddon

September 16, 2012 in America's Collapse, America's Heritage, Audit the Fed, Budget, Congress, Constitutional, Debt Crisis, Economic Deception, Quantitative Easing

QE3 ANNOUNCED – GOLD & SILVER RALLYING 

BRACE FOR INFLATION

“Ultimately no matter how long and how many years they seem to get away with running up Deficits, running up Borrowing and Spending and inflating, eventually an empire comes to an end because you can not do it. You have to pay it. Any individual or any Country that lives beyond its means will always have to live beneath its means”                           Ron Paul at 2009 New Orleans Investment Conference

Peter Schiff , our  foremost private sector  FED  “Watchman on the Wall”,  presents a scathing video of  Ben Bernake’s QE3 debacle that promises to place America on the road to Financial Armageddon.

 

Bernake’s 3d Round of Quantitative Easing Explained

September 15, 2012 in 2nd Amendment, Diplomacy, Economic Deception, Economy, Energy, Freedom, Obama's America 2016, ObamaCare, President Obama, Quantitative Easing, The Stakes for the 2012 Election, United States Constitution

We have a sociopath in the White House. A Sociopath is a person who lacks a sense of moral responsibility or social conscience.  Barack Hussein Obama went to a Las Vegas  for a fundraiser after briefly delaying his itinerary to speak on National Television regarding the death (assassination) of our Ambassador to Libya.  In the last four years, Barack Hussein Obama has destroyed  our economy,  driven up the price of gasoline and energy, forced Americans to accept Obamacare,  illegally advocated for Illegal Alien Amnesty via an Executive Order, engaged in a second Amendment plot via “Fast and Furious” in an attempt to disenfranchise gun ownership, stuffed the Supreme Court and lower courts with ideologue judges, stiffed us with massive failed stimulus packages, illegally disenfranchised preferred stock holders (GM),  had government takeover private enterprises  and has  punished job creators.

His final legacy will be Quantitative Easing  which means that the “Fed will print a ton of money” and will devalue the dollar. His lack of leadership in creating Fiscal Policy has forced Ben Bernake into a third round of Monetary policy. This in turn will create massive inflation  so that oil, food, medicine and all imported goods and services will skyrocket.

“Printing money is the last refuge of failed empires and Banana Republics and the Fed doesn’t want to admit that this is their only idea”

The following  video  explains Quantitative Easing: