Thread: Amnesty during a DEPRESSION ~ I think NOT

Amnesty during a DEPRESSION ~ I think NOT

This isn’t a double dip recession; it is a depression and has been one since last February. Wall Street tells us a lower dollar will again bring prosperity. That is hardly true. At best it can add ½% to 1% to GDP and at the same time boost inflation by 10%. Some trade off.

http://www.theinternationalforecaster.c ... ar_To_Come

you crazy EMPLOYED AMERICANS BETTER WAKE UP .. you may soon join the ranks of the UNEMPLOYED and it looks like you may need every job you can get

Economists say employment at large firms is likely to remain flat through much of 2010. Many companies already have hit their hiring targets for what's expected to be a weak and bumpy recovery.

The number of U.S. workers filing new claims for jobless benefits rose more than economists expected last week, the Labor Department said in its weekly report Thursday.

Total claims lasting more than one week, meanwhile, fell.

Initial claims for jobless benefits rose by 17,000 to 474,000 in the week ended Dec. 5. The previous week's level was unrevised at 457,000.

Economists surveyed by Dow Jones Newswires expected an increase of 8,000 initial claims.

An economist at the Labor Department said Thursday that an increase in claims is generally expected during this time of year because it reflects data from the week after Thanksgiving and because construction lay-offs tend to occur in that week.

"Generally...that week sees the biggest percentage increase in initial claims over the year, and this year was no exception," he said.

Although initial claims rose last week, the four-week moving average, which aims to smooth volatility in the data, still continued to drop. The Labor Department said the four-week moving average fell by 7,750 to 473,750 from the previous week's revised average of 481,500. That is the lowest figure since September 27, 2008.

http://www.theinternationalforecaster.c ... o_Recovery

They ALREADY pushed NAFTA FREE TRADE crushing America Industry, the same PEOPLE PUSHED Off Shoring and Out Sourcing Jobs to OTHER 3rd World country's making YOU a 3rd World Country and NOW want to give AMNESTY that will push the Population over another 100 Million making you the New Illegal Alien.... They plan on adding MILLIONS of ILLEGAL ALIENS LEGALLY to the Work Force benefiting Big Business, SEIU and other corrupt organizations that will gladly reduce the wages of Americans for a higher bottom line.... you think your BROKE NOW .. get ready for abject poverty

free trade, globalization, off shoring and outsourcing upset the balance of trade worldwide. It shifted production and sources to the East from the West. A battle that could not conceivably be won by the West with its much higher standard of living. The wealthy elitists don’t care about the living standard of the West, or anyone for that matter, except themselves.

millions of people who will work for virtually nothing

http://www.theinternationalforecaster.c ... f_Recovery

Obama ALREADY put a TAX on Cigarettes to pay for Illegal Alien Child Health Insurance

Obama and the DEMOCRAT's have Added Illegal Aliens in the Obamacare / CASTROCARE Health care

OBAMA ~ "YOU LIE"

now they want to add up to 100 Million ILLEGAL Alien Family Members to Health care and do it on your dime

Saturday, December 12, 2009

Americans More Pessimistic On Economy, Nation's Direction

Only 31 percent expect the economy to improve in six months
81 percent say persistently high unemployment is a major threat

http://globaleconomicanalysis.blogspot. ... onomy.html

Shadowstats' John Williams: Prepare For The Hyperinflationary Great Depression

by Tyler Durden
12/14/2009 14:32 -0500

John Williams, who runs the popular counter government data manipulation site Shadowstats, has thrown down the gauntlet to deflationists, and in an extensive report concludes that the probability of a hyperinflationary episode in America over the next year has reached critical levels. While the debate between deflationists and (hyper)inflationists has been a long and painful one, numerous events set off in motion by the Bernanke Fed (as a direct legacy of the Greenspan multi-decade period of cheap and boundless credit) may have well cast America as the unwilling protagonist in the sequel of the failed monetary policy economic experiment better known as Zimbabwe.

Williams does not mince his words:

The U.S. economic and systemic solvency crises of the last two years are just precursors to a Great Collapse: a hyperinflationary great depression. Such will reflect a complete collapse in the purchasing power of the U.S. dollar, a collapse in the normal stream of U.S. commercial and economic activity, a collapse in the U.S. financial system as we know it, and a likely realignment of the U.S. political environment. The current U.S. financial markets, financial system and economy remain highly unstable and vulnerable to unexpected shocks. The Federal Reserve is dedicated to preventing deflation, to debasing the U.S. dollar. The results of those efforts are being seen in tentative selling pressures against the U.S. currency and in the rallying price of gold.

And even as Bernanke continues existing in a factless vacuum where he sees no asset bubbles, Williams takes aim at the one party almost exclusively responsible for the economic carnage that will soon transpire:

The crises have been generated out of and are centered on the United States financial system, triggered by the collapse of debt excesses actively encouraged by the Greenspan Federal Reserve. Recognizing that the U.S. economy was sagging under the weight of structural changes created by government trade, regulatory and social policies -- policies that limited real consumer income growth -- Mr. Greenspan played along with the political and banking systems. He made policy decisions to steal economic activity from the future, fueling economic growth of the last decade largely through debt expansion.

The Greenspan Fed pushed for ever-greater systemic leverage, including the happy acceptance of new financial products, which included instruments of mis-packaged lending risks, designed for consumption by global entities that openly did not understand the nature of the risks being taken. Complicit in this broad malfeasance was the U.S. government, including both major political parties in successive Administrations and Congresses.

As with consumers, the federal government could not make ends meet while appeasing that portion of the electorate that could be kept docile by ever-expanding government programs and increasing government spending. The solution was ever-expanding federal debt and deficits.

Purportedly, it was Arthur Burns, Fed Chairman under Richard Nixon, who first offered the advice that helped to guide Alan Greenspan and a number of Administrations. The gist of the wisdom imparted was that if you ran into problems, you could ignore the budget deficit and the dollar. Ignoring them did not matter, because doing so would not cost you any votes.

Back in 2005, I raised the issue of a then-inevitable U.S. hyperinflation with an advisor to both the Bush Administration and Fed Chairman Greenspan. I was told simply that "It's too far into the future to worry about."

Indeed, pushing the big problems into the future appears to have been the working strategy for both the Fed and recent Administrations. Yet, the U.S. dollar and the budget deficit do matter, and the future is at hand. The day of ultimate financial reckoning has arrived, and it is playing out.

Looking at the events over the past year demonstrates that Williams is not just being a drama queen.

Effective financial impairments and at least partial nationalizations or orchestrated bailouts/takeovers resulted for institutions such as Bear Stearns, Citigroup, Washington Mutual, AIG, General Motors, Chrysler, Fannie Mae and Freddie Mac, along with a number of further troubled financial institutions. The Fed moved to provide whatever systemic liquidity would be needed, while the federal government moved to finance corporate bailouts and to introduce significant stimulus spending.

Curiously, though, the Fed and the Treasury let Lehman Brothers fail outright, which triggered a foreseeable run on the system and markedly intensified the systemic solvency crisis in September 2008. Whether someone was trying to play political games, with the public and Congress increasingly raising questions of moral hazard issues, or whether the U.S. financial wizards missed what would happen or simply moved to bring the crisis to a head, remains to be seen.

More on the impending timing of the complete economic collapse of the US financial system:

Before the systemic solvency crisis began to unfold in 2007, the U.S. government already had condemned the U.S. dollar to a hyperinflationary grave by taking on debt and obligations that never could be covered through raising taxes and/or by severely slashing government spending that had become politically untouchable. The U.S. economy also already had entered a severe structural downturn, which helped to trigger the systemic solvency crisis.

The intensifying economic and solvency crises, and the responses to both by the U.S. government and the Federal Reserve in the last two years, have exacerbated the government's solvency issues and moved forward my timing estimation for the hyperinflation to the next five years, from the 2010 to 2018 timing range estimated in the prior report. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, gross mismanagement, and a deliberate and ongoing effort to debase the U.S. currency. Accordingly, risks are particularly high of the hyperinflation crisis breaking within the next year.

What are the alternatives for the US? In a word, none. Presumably this means you should ignore what the axed "experts" from various bailed out sell side research chop shops try to tell you.

The U.S. has no way of avoiding a financial Armageddon. Bankrupt sovereign states most commonly use the currency printing press as a solution to not having enough money to cover obligations. The alternative would be for the U.S. to renege on its existing debt and obligations, a solution for modern sovereign states rarely seen outside of governments overthrown in revolution, and a solution with no happier ending than simply printing the needed money. With the creation of massive amounts of new fiat dollars (not backed by gold or silver) will come the eventual destruction of the value of the U.S. dollar and related dollar-denominated paper assets.

What lies ahead will be extremely difficult, painful and unhappy times for many in the United States. The functioning and adaptation of the U.S. economy and financial markets to a hyperinflation likely would be particularly disruptive. Trouble could range from turmoil in the food distribution chain to electronic cash and credit systems unable to handle rapidly changing circumstances. The situation quickly would devolve from a deepening depression, to an intensifying hyperinflationary great depression.

While the economic difficulties would have global impact, the initial hyperinflation should be largely a U.S. problem, albeit with major implications for the global currency system. For those living in the United States, long-range strategies should look to assure safety and survival, which from a financial standpoint means preserving wealth and assets. Also directly impacted, of course, are those holding or dependent upon U.S. dollars or dollar-denominated assets, and those living in "dollarized" countries.

In other words, the economic cycle will come back with a vengeance. Having pulled America out of the abyss by the last hairs on its Rogaine infused head, the Fed and the Administration have merely purchased one-two years of excess time in which insiders can sell all their holdings (look at recent reports indicating the ratio of insider sellers to buyers) and banks can book one/two years of record bonuses before signing off.

And whether one is a deflationist or inflationist, the take home message from Williams' thesis that everyone should be able to agree on, is what everyone knows yet is unwilling to admit: that the US economy (and its derivative, the undecoupled global economy, which that most certainly includes China) is that we are now caught in the greatest Ponzi bubble of all time. One small hiccup in which there is no incremental hollow value added on the margin courtesy of printing presses pushing fiat pieces of paper in overtime, would lead to precisely the same outcome as the world saw with Bernie Madoff: from $50 billion to 0 overnight. It is somehow fitting that world GDP is 1,000 time greater, at $50 trillion. Take away the fiat illusion, and the real value collapses to those concepts of tangible value that will remain in a post bubble implosion scenario: whether these be spam, gold, or lead.

And just so there is no confusion about the course of events, Williams presents the Zimbabwe hyperinflation episode as the case study that the historian Bernanke should have been focusing on, instead of spending long nights, "learning" from the Great Depression.

Hyperinflation in Zimbabwe, the former Rhodesia, was a quadrillion times worse than it was in Weimar Germany. Zimbabwe went through a number of years of high inflation, with an accelerating hyperinflation from 2006 to 2009, when the currency was abandoned. Through three devaluations, excess zeros repeatedly were lopped off notes as high as 100 trillion Zimbabwe dollars.

The cumulative devaluation of the Zimbabwe dollar was such that a stack of 100,000,000,000,000,000,000,000,000 (26 zeros) two dollar bills (if they were printed) in the peak hyperinflation would have be needed to equal in value what a single original Zimbabwe two-dollar bill of 1978 had been worth. Such a pile of bills literally would be light years high, stretching from the Earth to the Andromeda Galaxy.

In early-2009, the governor of the Zimbabwe Reserve Bank indicated he felt his actions in printing money were vindicated by the recent actions of the U.S. Federal Reserve. If the U.S. went through a hyperinflation like that of Zimbabwe’s, total U.S. federal debt and obligations (roughly $75 trillion with unfunded liabilities) could be paid off for much less than a current penny.

What helped to enable the evolution of the Zimbabwe monetary excesses over the years, while still having something of a functioning economy, was the back-up of a well functioning black market in U.S. dollars. The United States has no such backup system, however, with implications for a more rapid and disruptive hyperinflation than seen in Zimbabwe, when it hits.

Maybe in retrospect it is good that banks are not lending out. If the $1.2 trillion in excess reserves were to actually hit circulating currency overnight, or even in a much more gradual fashion, then hyperinflation would surely be unavoidable, not so much as function of the consumer becoming a dominant force once again, which is the deflationists' key point, but as a result of the excess liquidity of the capital markets, which is the only reason why the S&P is where it is, into Main Street. As it stands, banks' unwillingness to recreate the cheap credit bubble by lending to anyone who has a pulse and can walk is the only thing that is so far preventing America's name change to the United States of Zimbabwe.

http://www.zerohedge.com/article/shadow ... depression

2010: "The Year of Severe Economic Contraction"

by Mike Whitney
Global Research, December 15, 2009

Upbeat reports in the financial media, belie the effects of the ongoing credit contraction. Massive injections of central bank liquidity have prevented the collapse of financial markets, but have done little to ease the deleveraging of households or stimulate activity the broader economy. The crisis has stripped $13 trillion in equity from working families who now find their access to credit either cut off or severely curtailed by the same banks that received hefty taxpayer-funded bailouts. The fiscal strangulation of the millions of people who are no longer considered "creditworthy" is progressively weakening demand and spreading pessimism across all income levels. Growing public desperation was the focus of a special weekend report by Bloomberg News:

"Americans have grown gloomier about both the economy and the nation’s direction over the past three months even as the U.S. shows signs of moving from recession to recovery. Almost half the people now feel less financially secure than when President Barack Obama took office in January, a Bloomberg National Poll shows.

The economy is the country’s top concern, with persistently high unemployment the greatest threat the public sees. Eight of 10 Americans rate joblessness a high risk to the economy in the next two years, outranking the federal budget deficit, which is cited by 7 of 10. An increase in taxes is named as a high risk by almost 6 of 10.

Fewer than 1 in 3 Americans think the economy will improve in the next six months....Only 32 percent of poll respondents believe the country is headed in the right direction, down from 40 percent who said so in September." (Bloomberg)

The near-delirious optimism that followed the 2008 presidential election has fizzled in less than 12 months. While the policies of the Obama administration have improved Wall Street's prospects for record profits and lavish bonuses, ordinary working people continue to fight to keep their jobs and maintain their standard of living. Recent data show that household debt which surged during the boom years is being pared back at a historic pace. Household debt to disposable income has plummeted from 136 percent to 122 percent in a little more than a year, leaving many families with little to spend at the malls or shopping centers.

Severe retrenchment has triggered a shift towards personal thriftiness which is reducing economic activity and strengthening deflationary pressures. 2010 is likely to be even worse, as mushrooming foreclosures and commercial real estate defaults force banks to slash lending accelerating the rate of decline. This is from Bloomberg:

"Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said. This year’s filings will surpass 2008’s total of 3.2 million as record unemployment and price erosion batter the housing market...

Foreclosure filings exceeded 300,000 for the ninth straight month in November, RealtyTrac said today. A weak labor market and tight credit are "formidable headwinds" for the economy, Federal Reserve Chairman Ben S. Bernanke said in a Dec. 7 speech in Washington. The 7.2 million jobs lost since the recession began in December 2007 are the most of any postwar economic slump, Labor Department data show. Unemployment, at 10 percent last month, won’t peak until the first quarter, Quigley said." (Bloomberg)

The Obama administration's $787 billion stimulus pushed GDP into positive territory for the first time in more than a year, but the maximum impact has already been felt. President Obama--under advice from his chief advisors-- has shifted his focus from soaring unemployment to long-term deficits. Additional stimulus will be no more than $200 billion, of which, a mere $50 billion will go towards jobs initiatives. At the same time, Fed chair Ben Bernanke will terminate the quantitative easing (QE) program which kept long-term interest rates low while providing financing for the housing market. When the program ends, rates will rise, housing prices will tumble, and liquidity will drain from the system. The end of QE coupled with dwindling stimulus ensures that economy will slide back into recession in the 2nd or 3rd Quarter of 2010.

Policymakers have decided to create conditions that are favorable to financial sector consolidation and the further privatization of public assets. The economy is being strangled by design.

Here's economist Mark Thoma explaining why consumption will not return to pre-crisis levels:

"For the immediate future and likely for much longer than that, slow consumption growth is expected. One way that could change is if the government implements a successful jobs program or uses some other means to increase household income (e.g. a payroll tax cut), and households spend rather than save the extra income..., but the political environment makes a jobs program or further fiscal policy action highly unlikely.

Similarly...the Fed is anxious to unwind its massive policy intervention, not extend it, so monetary policy is unlikely to help much either. Since monetary and fiscal policy authorities are unwilling to provide further help, slow growth is the best outcome we’re likely to get." ("Will Consumption Growth Return to Its Pre-Recession Level?" Mark Thoma, moneywatch.com)

Along with flagging consumption, economists Antonio Fatas and Ilian Mihov show why both investment and employment will not rebound in the way that many bullish analysts expect. By tracking the rate of recovery in the last 5 recessions, the two economists show that demand will remain flat for a prolonged period of time, precipitating a "jobless" and "investmentless" recovery. Their research supports additional stimulus to reduce the output gap and engage the labor force in productive activity. The administration's policies are the exact opposite of the majority of professional economists who believe that deficits need to increase to effect overcapacity and underutilization. Obama is deliberately steering the economy into a double-dip recession.

While financial institutions have been propped up with zero-rates, myriad lending facilities and boatloads of Fed liquidity, the real economy continues to on a downward path. As households rebalance accounts and increase savings, the signs of distress are becoming more apparent. In Europe, the ECB and IMF have begun to use the financial crisis to wrest control of the budgets of deficits-plagued nations to apply business-friendly austerity measures. The economic meltdown--that was generated by overleveraged banks trading dodgy investment paper--is now being used to assert corporate/bank control over sovereign nations. Greece, Ireland, Iceland, Ukraine, Latvia, Lithuania, Portugal and Spain are all presently in the crosshairs of neoliberal restructuring. Surely, the same policies will be applied within the United States under the guidance of supply-side economist and chief advisor to the president, Lawrence Summers. Thus, in 2010, economic contraction will continue to force state and local governmnets to lay off millions of more workers while public assets and services are made available at firesale prices to private industry.

Debt deflation and deleveraging will continue into 2011, while foreclosures, personal bankruptcies and defaults continue to mount. The public's frustration with ineffective government policies, is likely to change from pessimism to rage on short notice. The prospect of social unrest or sporadic incidents of violence can no longer be excluded.

http://www.globalresearch.ca/index.php? ... &aid=16569

....and Bernanke got Time's person of the year for heading off a depression?? What a total joke.

Had this forwarded to me this morning:

The Fundamental Transformation of America-VERY INTERESTING

Pretty conclusive evidence if one wants to believe the truth.

The Fundamental Transformation of America

When Obama wrote a book and said he
was mentored as a youth by Frank,
(Frank Marshall Davis) an avowed Communist,
people said it didn't matter.

When it was discovered that his grandparents, were strong socialist,
sent Obama's mother to a socialist school, introduced Frank Marshall Davis to young Obama,
People said it didn't matter.

When people found out that he was
enrolled as a Muslim child in school and his father and step father were both Muslims,
people said it didn't matter.

When he wrote in another book he authored "I will stand with them (Muslims)should the political winds shift in an ugly direction."
people said it didn't matter.

When he admittedly, in his book, said he chose Marxist friends
and professors in college,
people said it didn't matter.

When he traveled to Pakistan ,
after college on an unknown
national passport,
people said it didn't matter.

When he sought the endorsement of the Marxist party in 1996 as he ran
for the Illinois Senate,
people said it doesn't matter.

When he sat in a Chicago Church
for twenty years and listened to a preacher spew hatred for America and
preach black liberation theology,
people said it didn't matter.

When an independent Washington organization, that tracks senate voting records, gave him the distinctive title as the "most liberal senator",
people said it didn't matter.

When the Palestinians in Gaza ,
set up a fund raising telethon
to raise money for his election campaign,
people said it didn't matter.

When his voting record
supported gun control,
people said it didn't matter.

When he refused to disclose who
donated money to his election campaign, as other candidates had done,
people said it didn't matter.

When he received endorsements from
people like Louis Farrakhan and
Mummar Kadaffi and Hugo Chavez,
people said it didn't matter.

When it was pointed out that he was
a total, newcomer and had absolutely
no experience at anything except
community organizing,
people said it didn't matter.

When he chose friends and acquaintances such as Bill Ayers and Bernadine Dohrn
who were revolutionary radicals,
people said it didn't matter.

When his voting record in the Illinois
senate and in the U.S. Senate
came into question,
people said it didn't matter.

When he refused to wear a flag,
lapel pin and did so only
after a public outcry,
people said it didn't matter.

When people started treating him as
a Messiah and children in schools
were taught to sing his praises,
people said it didn't matter.

When he stood with his hands over
his groin area for the playing of the
National Anthem and Pledge of Allegiance,
people said it didn't matter.

When he surrounded himself in the White house with advisors who were pro gun control, pro abortion, pro homosexual marriage and wanting to
curtail freedom of speech to silence the opposition
people said it didn't matter.

When he aired his views on abortion,
homosexuality and a
host of other issues,
people said it didn't matter.

When he said he favors
sex education in Kindergarten,
including homosexual indoctrination,
people said it didn't matter.

When his background was either
scrubbed or hidden and nothing
could be found about him,
people said it didn't matter.

When the place of his birth
was called into question, and he refused to produce a birth certificate,
people said it didn't matter.

When he had an association in Chicago
with Tony Rezco, a man of questionable character, who is now in prison and had helped Obama to a sweet deal on the purchase of his home,
people said it didn't matter.

When it became known that George Soros, a multi-billionaire Marxist,
spent a ton of money to get him elected,
people said it didn't matter.

When he started appointing czars
that were radicals, revolutionaries,
and even avowed Marxist/Communist,
people said it didn't matter.

When he stood before the nation
and told us that his intentions were to
"fundamentally transform this nation"
into something else,
people said it didn't matter.

When it became known that he had
trained ACORN workers in Chicago
and served as an attorney for ACORN,
people said it didn't matter.

When he appointed a cabinet members
and several advisors who were
tax cheats and socialist,
people said it didn't matter.

When he appointed a science czar, John Holdren, who believes in forced abortions, mass sterilizations and seizing babies from teen mothers,
people said it didn't matter.

When he appointed Cass Sunstein as regulatory czar and he believes in "Explicit Consent",
harvesting human organs with out family consent,
and to allow animals to be represented in court,
while banning all hunting,
people said it didn't matter.

When he appointed Kevin Jennings, a homosexual,
and organizer of a group called gay, lesbian, straight, Education network, as safe school czar and it became known
that he had a history of bad advice to teenagers,
people said it didn't matter.

When he appointed Mark Lloyd as diversity czar
and he believed in curtailing free speech, taking from one and giving to another to spread
the wealth and admires Hugo Chavez,
people said it didn't matter.

When Valerie Jarrett was selected as Obama's
senior White House advisor and she is an avowed Socialist,
people said it didn't matter.

When Anita Dunn, White House Communications director
said Mao Tse Tung was her favorite philosopher
and the person she turned to most for inspiration,
people said it didn't matter.

When he appointed Carol Browner as global warming czar, and she is a well known socialist working on Cap and trade as the nations largest tax,
people said it doesn't matter.

When he appointed Van Jones, an ex-con and avowed Communist as green energy czar,
who since had to resign when this was made known,
people said it didn't matter.

When Tom Daschle, Obama's pick for health and human services secretary could not be
confirmed, because he was a tax cheat,
people said it didn't matter.

When as president of the United States
he bowed to the King of Saudi Arabia ,
people said it didn't matter.

When he traveled around the world
criticizing America and never once
talking of her greatness,
people said it didn't matter.

When his actions concerning the middle-east seemed to support the Palestinians
over Israel , our long time friend,
People said it doesn't matter.

When he took American tax dollars to
resettle thousands of Palestinians
from Gaza to the United States ,
people said it doesn't matter.

When he upset the Europeans by
removing plans for a missile defense system
against the Russians,
People said it doesn't matter.

When he played politics in Afghanistan by not sending troops the Field Commanders
said we had to have to win,
people said it didn't matter.

When he started spending us into a debt
that was so big
we could not pay it off,
people said it didn't matter.

When he took a huge spending bill
under the guise of stimulus
and used it to pay off organizations,
unions and individuals
that got him elected,
people said it didn't matter.

When he took over insurance companies,
car companies, banks, etc.
people said it didn't matter.

When he took away student loans
from the banks and put it
through the government,
people said it didn't matter.

When he designed plans to take over
the health care system
and put it under government control,
people said it didn't matter.

When he set into motion a plan
to take over the control of all
energy in the United States
through Cap and Trade,
people said it didn't matter.

When he finally completed his
transformation of America
into a Socialist State ,
people finally woke up........

but it was too late.

Any one of these things, in and of themselves does not really matter. But.... when you add them up one by one you get a phenomenal score that points to the fact that our Obama is determined to make America over into a Marxist/Socialist society. All of the items in the preceding paragraphs have been put into place. All can be documented very easily. Before you disavow this, do an internet search. The last paragraph alone is not yet cast in stone. You and I will write that paragraph. Will it read as above or will it be a more happy ending for most of America ? Personally, I like happy endings

If you are an Obama Supporter, please do not be angry with me because I think your president is a socialist. There are too many facts supporting this. If you seek the truth you will be richer for it. Don't just belittle the opposition. Search for the truth. I did. Democrats, Republicans, Independents, Constitutionalist, Libertarians and what have you, we all need to pull together. We all must pull together or watch the demise of a society that we all love and cherish. If you are a religious person, pray for our nation.

Never before in the history of America have we been confronted with problems so huge that the very existence of our country is in jeopardy. Don't rely on most television news and what you read in the newspapers for the truth. Search the internet. Yes, there is a lot of bad information, lies and distortions there too but you are smart enough to spot the fallacies. Newspapers are a dying breed. They are currently seeking a bailout from the government. Do you really think they are about to print the truth? Obama praises all the television news networks except Fox who he has waged war against. There must be a reason. He does not call them down on any specifics, just a general battle against them. If they lie, he should call them out on it but he doesn't. Please, find the truth, it will set you free.

Our biggest enemy is not China, Russia, Iran; no, our biggest enemy is a contingent of politicians in Washington DC .

http://www.marketoracle.co.uk/Article15751.html

[quote][b]Lies, Damn Lies, and Government Statistics

We are going to look at the unemployment numbers of last week, along with the unemployment claims that came out yesterday. But first, I want to quote a section from Dennis Gartman’s letter this morning. It illustrates why we have to be very careful how we use government data. Too often, we think the data is straightforward math and simply draws on the underlying data sources. The reality is that it is anything but. To wit:

“A PROBLEM AT THE VERY HEART OF DATA GATHERING: Recently in Washington a rather large number of economists from academia and from government met to try to hash out a problem with data gathering that has become more and more serious here in the US and has more and more distorted how we value the American economy itself. At heart is how imports into the US are accounted for.

“For example, when a part for perhaps $100 is imported from China and is used in an American automobile … something that happens more and more and more often these days … the stats show that the finished car is American-made because it was assembled here in the US and in the process the US GDP is raised by that same $100 when in fact it should have been deflated by that figure instead. In the process, American workers who might in the past have made the part in question are no longer doing so and are obviously made redundant, hence a job or jobs is lost.

“The unemployment data then ‘finds’ that unemployed worker and accounts for him or her, but the car that is assembled does not, and when it is produced and sold and its value makes its way through the system, it appears that productivity has risen … and rather dramatically so, when in fact it has not. As one of the economists attending that meeting said,

â€