The Obama administration, so
called academics and deceitful media/pundits say the economy is
rebounding. Facts belie their claim. Read these items to see why.
There is a lot here. The items presented highlight various aspects of
the deceptions and outright lies that come our way. I know time is
limited so select those that strike your fancy. Save and revisit when
time permits. However, the first seven items pretty much tell the
story.
In our country alone there are at least 92,986,000 people eligible and wanting work but cannot find it. http://www.breitbart.com/big-government/2015/06/05/jobs-data-92986000-people-not-in-the-workforce/
What do you think about Obama's initiative to "welcome" tens of
thousands of illegals and refugees that only add to that number? And
where do you think the money will come from to pay for their housing,
food, medical care, children's schooling, etc., etc.?
Not only that. Read This. Quote: "The number of people giving up on the job market is rising. You can measure it by the rapid acceleration of government spending on welfare.
In 1990, the civil government spent $200 million on welfare. In 2010,
that number was well over a trillion dollars. Especially considering
that factors inflation, that is a monumental increase. And those numbers
will only get worse. And all the while, the information we’re going to
get from the civil government will be all sunshine and dandelions. Don’t
drink the Kool-Aid. http://eaglerising.com/18195/labor-department-caught-lying-about-unemployment/ The government says the economy is moving along. If so, why this? http://freebeacon.com/issues/feds-spent-100-billion-on-food-assistance-last-year/
More evidence that the economy
is contracting and a recession is a realistic possibility. Look at
these numbers. Quote: "Large US corporations posted their first decline
in both earnings and sales since the great recession. Are we back in
recession?" http://finance.townhall.com/columnists/mikeshedlock/2015/10/27/sales-earning-estimates-contract-first-time-since-2009-us-back-in-recession-n2071372?l
There is a recession in our future according to this expert. http://finance.townhall.com/columnists/mikeshedlock/2015/12/18/sam-zell-warns-recession-coming-provides-opinions-on-22-topics-including-fed-tools-equities-real-estate-energy-china-brazil-mexico-climate-change-n2094777?
Read this item which captures
the thinking of these two investment experts. Two Quotes: "If the
government’s official statistics are to be believed the U.S. economy is
moving full steam ahead. Consumers are spending, the job market is
expanding, real estate has recovered, stocks are soaring and the U.S.
dollar is stronger than it has been in a decade. But if you have yet to
realize it, it’s all a lie." And, "Though the market price has yet
to reflect it, Eric Sprott and Keith Neumeyer are being joined by scores
of billionaires and investment funds that are positioning themselves in
the gold and silver markets. They know what’s coming. Unfortunately
for the majority of the populace, it’ll be too late by the time they
realize it too." http://patriotpowerednews.com/sprott-unleashed-everything-is-a-lie-i-dream-of-the-day-comex-paper-exchange-cant-deliver-gold/
Quote: "The 70 percent of
Americans that comprise the middle class have been suffering for years
from “stealth stagflation” that is driven by high taxes and oppressive
regulations. Stagflation is defined by Merriam-Webster as a condition
of “persistent inflation combined with stagnant
consumer demand and relatively high unemployment.” According to the
Bureau of Labor Statistics, the official unemployment was at 7.8 percent
in January 2009, when President Obama took office. The rate soared to
10 percent in October of that year and has been sinking steadily to 5
percent last month. But the “good news” has not been from an expansion
in the percentage of Americans working, but rather millions who ran out
of benefits up and stopped looking for jobs." http://www.breitbart.com/big-government/2015/11/04/stealth-stagflation-killing-middle-class/
Tell
me again that illegal immigrants don't cost Americans tax payers any
money! Get this. Quote: "DOE officials have declined to give out exact
numbers of recently enrolled illegal alien children or the costs to the
taxpayers. Based on last year's spending, NYC spent $20,749 per student
which would bring the total for the migrant kids to $48.7 million. This
does not include state mandated English-language instruction, free or
reduced-price lunch, and the medical and dental coverage that many of
these illegal alien minors will also receive." And that $48 plus
million is only the cost for NY city residents. Great job Obama! http://nypost.com/2014/11/23/city-schools-warned-of-plans-to-enroll-2350-migrant-children/ Here are the facts on unemployed Americans. We have 94,031,000 out of work. Obama is just making matters worse. http://cnsnews.com/news/article/susan-jones/record-94031000-americans-not-labor-force-participation-rate-stuck-38-year
Need more evidence? Check this
out. Quote: "Periodically I trot out the numbers— unemployment, jobs,
GDP, CPI— and discuss the cold, hard facts that liberals and central
bankers (same-same) refuse to face: This economy does not reflect either
the traditional strengths or the historical resilience of the American
economic system. I get tired of this exercise, however, because the
story hasn’t changed much in 20 to 30 years, and the liberals— both Dems
and GOP— who created the mess won’t change policies, laws or
expectations to set things right." http://finance.townhall.com/columnists/johnransom/2015/10/28/no-happy-ending-in-obamanomics-n2071875/page/full Another item adds to the debate.
Now
let's expand the discussion to the rest of the world. Quote: "The
biggest bank in the western world has just come out and declared that
the global economy is “already in a recession”. According to British
banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent. So those that are waiting for the next worldwide economic recession to begin can stop waiting. It is officially here" http://patriotpowerednews.com/the-numbers-say-that-a-major-global-recession-has-already-begun/
And this former Federal Reserve
Chairman Allen Greenspan says the funding for the Welfare State is doing
us in. Quote: "To me the discussion today shouldn't even be on
monetary policy it should be on how do we constrain this extraordinary
rise in entitlements," he said in a CNBC "Closing Bell" interview, calling the trend "extremely dangerous." http://www.cnbc.com/2015/07/29/alan-greenspan-this-is-extremely-dangerous.html
Please folks do not believe what
Obama and loyal taking heads say about how well the economy is
doing. They lie. Quote: "To properly accommodate the disappointment that
has been the Hillary-Sanders-Obama economy perhaps we should count the
years of the Obama administration in reverse of dog years. Perhaps seven
years of Obama really is the economic— and moral— equivalent of what
used to be one earth year. It would only go to highlight how badly the
statistics have been deranged under Democrats." http://finance.townhall.com/columnists/johnransom/2015/10/21/lies-darn-lies-and-democrats-n2068408/page/full
We
are witnessing the worst cyclic recovery in history. The headline for a
Bloomberg Business report released last week read "Obama "Recovery"
Objectively Worse On Record." The findings are provided in this link. http://cfif.org/v/index.php/commentary/43-taxes-and-economy/2712-obama-qrecoveryq-objectively-worst-on-record Need more proof? http://cnsnews.com/news/article/susan-jones/record-93770000-americans-not-labor-force-participation-rate-matches-38
The Consumer Financial Protection Agency is a problem. The US House Financial Services committee study has determined that "The agency has harmed consumers and low income Americans. While Cordray defended the actions and regulations of the agency he heads, the committee has concluded
that, because of excessive regulations of the CFPB, that “big banks are
bigger and the small banks are now fewer,” while also noting the
regulations have, “eliminated competition, stifled innovation and given
consumers fewer choices.” And, "...concluded that
CFPB regulations under Dodd-Frank have made it more difficult for
Americans to achieve financial independence, and have raised prices of
financial services, eliminated free checking services for millions, and
have reduced consumer access to mortgages, bank accounts, and credit
cards for millions. http://patriotupdate.com/out-of-control-federal-agency-may-limit-consumer-financial-choices/
It
gets worse. Quote: "The economy is sluggish but growing and inflation
remains low, painting a decidedly mixed picture for the federal
government, the Congressional Budget Office
reported Tuesday, saying the fiscal situation is improving this year
but will snap back by 2018 to swelling deficits and unsustainable
debt." http://www.washingtontimes.com/news/2015/aug/25/budget-deficit-smallest-obamas-tenure-cbo/
The poverty trap known as the welfare state is a reality. Check out these data. http://finance.townhall.com/columnists/danieljmitchell/2015/09/08/which-european-nations-have-the-biggest-subsidies-that-trap-people-in-poverty-n2049134/page/full
Think
the minimum wage is good idea? As this item notes most economist do
not think so. But what difference does that make to its advocates? This
item examines the faulty logic associated with the minimum wage.
Quote: "Most folks think minimum wage laws exist to help the poor in
particular and everybody in general. But most economists have known
better, and for a long time." And, "For every advocate of a
class-based, favoritist policy who argues deceptively — for every
knowing proponent of the minimum wage — there are dozens upon dozens who
are merely mistaken, who think raising the minimum wage helps the poor.
And the true cynics can take the naivety of the masses and try to shame
economists and those like me who see the minimum wage as a major cause
of unemployment — of, indeed, permanent underclass unemployment — and
who see this as a bad thing. We who oppose the minimum wage do not do
so because we “hate the poor.” We oppose it because we want to encourage human betterment specifically for the poor." http://townhall.com/columnists/pauljacob/2015/07/12/the-cynics-and-the-minimum-wage-n2024343/page/full If you are still not convinced, read this. http://www.westernjournalism.com/seattles-15-minimum-wage-law-just-came-back-to-bite-them-in-a-totally-unexpected-way/? And this should put the nail in the coffin. http://www.breitbart.com/big-government/2015/07/24/seattle-sees-unexpected-fallout-from-15-per-hour-min-wage/ And if that one didn't, this one surely will. http://townhall.com/tipsheet/mattvespa/2015/07/26/shocker-minimum-wage-hikes-gutted-over-700000-jobs-in-2013-n2030568? Here's another one. http://hotair.com/archives/2015/12/16/the-science-is-nearly-settled-a-higher-minimum-wage-costs-jobs/?
This socialistic minimum wage experiment failed big time. http://conservativesunited.com/liberals-loved-this-ceo-and-his-70000-minimum-wage-but-months-later-hes-regretting-it/ Here is a discussion about the folly of those who support the minimum wage. The facts suggest it is a bad idea. http://townhall.com/columnists/johncgoodman/2015/09/12/why-is-there-so-much-economic-illiteracy-paul-krugman-is-one-reason-n2051103/page/full
Ask yourselves if, as most economists say, based on hard evidence the
minimum wage is a bad idea, why do the leftist elitists in government,
academia, unions and other power brokers promote it? The collective
content of this note should provide a clue. Another example of
failure. http://dailysignal.com/2015/10/22/seattle-hiked-the-minimum-wage-to-15-an-hour-heres-what-happened-to-seattles-job-market/?
And get this minimum wages do
not reduce government dependence. Quote: "Minimum wage increases do not
reduce reliance on government assistance programs, according to a report from the Employment Policies Institute." http://freebeacon.com/issues/report-minimum-wage-increases-do-not-reduce-reliance-on-govt-assistance/
Now
consider this exceptional think piece regarding Keynesianism and
Capitalism. One is socialistic with government controls that depress
the economy. The other is enterprise free of government oppressive
controls. http://www.garynorth.com/public/14208.cfm
Do
you think the expansiveness of these series of programs is affecting
our nation's economy? Quote: "...what the War on Poverty accomplished
was that it kept the underclass frozen in place, with no reduction in
the ratio of people climbing out of poverty. If the goal of welfare
transfer payments was to give
people a chance to climb out of their straightened circumstances, the
War had no effect. If the goal was to artificially inflate poor
people’s income at the expense of taxpayers, then President Obama’s
claim this month at Georgetown was correct – a 40% reduction was indeed
accomplished, if you call that an accomplishment at the inconceivable
expense of $22 trillion." http://www.americanthinker.com/articles/2015/05/no_progress_since_the_war_on_poverty_began_half_a_century_ago.html
Speaking
of poverty and welfare, the Founders had it right. Modern day
progressives/liberals have it way, way wrong. This succinct piece
explains the differences. I have long held that the Founder's way is
the right way. http://dailysignal.com/2015/05/30/the-founders-model-of-welfare-actually-reduced-poverty/?
So
do you now agree with the fact that we are being deceived as to the
realities of the economy? If not, I would appreciate learning your
perspective.
George Burns
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