Posts Tagged ‘food prices’

A Formerly Great Nation Under God: Obama Has So Undermined America It Is Beyond Unreal

April 21, 2014

It was Obama’s “reverend” who spoke as a prophet when he screamed, “No, no, no!  NOT God bless America!  God DAMN America!”

It was Obama who summed up the implications of his Führership when he shocked Republicans with his refusal to work with them in any way, shape or form when he had lockstep control of all three political branches of government: “Elections have consequences.”

And they sure have [For the official record, I TOLD you so the night the demons cheered while the angels wept and Obama was elected in 2008].

I think of Ronald Reagan – who won by a FAR greater landslide margin than anything Obama has ever come CLOSE to – governing like a leader while Obama IMMEDIATELY broke his word to “transcend the starkly red-and-blue politics” and “finally move beyond the divisive politics of Washington.”

If you believe the media propaganda that Obama has tried to work with the Republicans but no matter how rational and reasonable Obama was, racist Republicans just wouldn’t  allow him to succeed in any way, shape or form – just look at the man’s BUDGETS to see how false that bullcrap spin is.  Just see here and here for Obama’s true pattern: the man is so damn fascist radical that he couldn’t get a SINGLE vote from his own party.  And when he did get a vote, he got something like TWO votes from his own damned party.  If you think that’s “compromise,” you belong in an insane asylum for the criminally depraved and stupid.

The man has been nothing but a pure liar without honor, without virtue, without integrity, without decency of any kind.  And that was what he was from the very start.  No human being who has EVER LIVED has been caught in as many bald lies as this fascist who now contaminates our White House: as an example just one of his numerous lies – which merited him the title “Liar of the Year” – he repeated over and over and over again as his means of deceiving America into re-electing him again.  Every president has arguably lied, but Obama wallows in lies the way a particularly disgusting pig wallows in his own filth.

Who is Obama?  Well, even the extremely liberal New York Times long since acknowledged the fact: he is a divisive, arrogant blowhard who thinks he’s ontologically superior to everyone else while massively overestimating his own abilities.

Where are we under Obama’s misrule?

Well, according to CNN’s Jack Cafferty, as Obama was getting re-elected, “More than 100 million people in the United States of America get welfare from the federal government. 100 million.”  And that number has since skyrocketed to over 151,000 – or about half the damn population, since Obama was re-elected.

“Elections have consequences.”  And one of those consequences has been unprecedented welfare as Obama has gutted the American economic engine with every monkey wrench known to liberal engineering.

Another consequence of Obama’s elections has been a poverty level that has never been seen in America for MORE THAN FIFTY YEARS:

That’s rich: Poverty level under Obama breaks 50-year record
By Dave Boyer – The Washington Times
Tuesday, January 7, 2014

Fifty years after President Johnson started a $20 trillion taxpayer-funded war on poverty, the overall percentage of impoverished people in the U.S. has declined only slightly and the poor have lost ground under President Obama. […]

Although the president often rails against income inequality in America, his policies have had little impact overall on poverty. A record 47 million Americans receive food stamps, about 13 million more than when he took office.

The poverty rate has stood at 15 percent for three consecutive years, the first time that has happened since the mid-1960s. The poverty rate in 1965 was 17.3 percent; it was 12.5 percent in 2007, before the Great Recession.

About 50 million Americans live below the poverty line, which the federal government defined in 2012 as an annual income of $23,492 for a family of four.

President Obama’s anti-poverty efforts “are basically to give more people more free stuff,” said Robert Rector, a specialist on welfare and poverty at the conservative Heritage Foundation.

“That’s exactly the opposite of what Johnson said,” Mr. Rector said. “Johnson’s goal was to make people prosperous and self-sufficient.”

If you’re poor, realize that Barack Obama doesn’t give a flying DAMN about you.  All he cares about is demonizing and slandering his enemies while promising you lies that he will never deliver.

The worse consequence of Obama’s elections domestically has been Obama’s gutting of the labor participation rate.  The man has dishonestly boasted about the jobs he’s created when the reality is that he has destroyed tens of millions of jobs.  I documented how Obama’s policies had caused the U.S. labor participation rate to plummet to a 25-year low in 2010, and then decline to a 27-year low in 2011, decline to a 30-year low in 2012.  In 2013 it was the worst in 35 years under Obama, and now as we enter 2014 it is declining again.

The labor participation rate is a measure of the percent of working-age Americans who actually have JOBS.  And Obama with his demonic regulations and taxes and burdens on businesses has made it all but impossible for millions of Americans to ever HOPE of getting a job.

The rich are getting richer faster under Obama than under any president before him.  Because Obama is a crony capitalist fascist who has thrived politically using the raw power of government to decide who gets to win and who loses.

And what does Obama do?  His policies have caused this holocaust, but with the help of liberal media propaganda that surpasses Joseph Goebbels best work, Obama is able to “never let a serious crisis go to waste.”  Even though HE created the crisis to begin with.  Obama has been able to slander his opponents – who frankly have had zero ability to change anything – to keep pushing his already broken system further and further past the breaking point.

Democrats are now hell-bent on demagoguing “income inequality” to whole new levels, promising to do more of what they did to create the crisis in the first place and therefore create millions more ignorant, desperate people who will stupidly keep voting for the very people who are hurting them by undermining the economy that they desperately need to keep their heads above water.

Under Obama, the nation that put a man on the moon now gets to beg our enemy Russia to please, please let one of our astronauts ride with you into space for $70 million per trip.

Under Obama, the nation that invented the Internet now abandons its control over the Internet it invented.  Because Obama is the “president of the world,” you know.  American sovereignty is an evil thing to people like Obama.

But as bad as our domestic situation has been under Obama, it is our national security that has most collapsed.

More than six in ten Americans believe Obama has lied to them on important issues.  What percent of world leaders know that Obama has the integrity of a weasel?  I’m guessing that number is 100 percent of everybody.

Dishonesty is the heart of the Liberal Democrat Way.  Consider their “war on women” slander.  According to them, Republicans may have wives and daughters and mothers, but they hate women.  And Obama – who has a “boy’s club” featuring a hostile workplace environment for women – and who has consistently paid women on his own staff significantly less than men – and who is therefore “anti-woman” and ought to be voted out BY women according to his own disingenuous standards – is allowed to run on an issue in spite of the facts and in spite of reality.  Because running on lies is who these people are.

And the lies have started to pile up like the yard of a house that has fifty pit bulls and no one with any decency to take care of all the messes.

Now, I point out that it took eight years of Bill Clinton’s gutting of the military and intelligence branches that made America weak enough and blind enough to incite an attack by Osama bin Laden on 9/11.  Osama bin Laden began his dream of attacking America in 1993 after he watched Bill Clinton’s abject moral cowardice and concluded “Our boys no longer viewed America as a superpower … and they realized that the American soldier was just a paper tiger. He was unable to endure the strikes that were dealt to his army, so he fled.”

Every single one of the terrorists who attacked us on 9/11/2001 had already entered the country, received their funding and had their training by the time Bill Clinton left office.

But of course the same fascist propaganda media that blamed Bush for everything absolved Bill Clinton of everything.  You know, it was Bush’s fault that under President Bill Clinton Osama bin Laden declared war on America and said that our warriors were paper tigers.  That’s what these people always do: punish their enemies and reward their friends.

Bill Clinton left America a sitting duck.  Or a plucked chicken, given Jeremiah Wright’s infamous “our chickens have come home to roost” metaphor.

So now Obama has been so much WORSE than Clinton ever was that it is almost laughable.  Because Clinton was pretty damn bad.

Obama has gut the Army to its weakest level since BEFORE World War II.  Even Clinton couldn’t find enough “loathing the military” in his heart to do that.

What is our policy/strategy to deal with what Putin has done in Ukraine?

Keep in mind that the United States had a treaty to protect Ukraine from the Russian aggression that they feared if they gave up their nuclear weapons that was negotiated by Bill Clinton.

Let me preamble by pointing out according to no less an authority than Hillary Clinton, what Putin did was like what Hitler did in the 1930s.

So how has Obama decided to deal with Hitler?

Obama has clearly decided the cause of World War II was that America and the West had the audacity to try to defend themselves rather than baring their throat to a dictator and begging for mercy.  Obama wants to re-fight World War II by surrendering and refusing to fight and see what happens that way.  After all, when Hitler invaded Poland and Winston Churchill and FDR stood up to him, we ended up in a war.  Far better to employ the Neville Chamberlain strategy and get some piece of paper that guarantees “peace in our time.”

Sometimes courageous people have to fight; cowards never do.  All they have to do is be willing to live with the consequences of their cowardice.  Which cowards are plenty willing to do.

So also keep in mind that Sarah Palin knew a coward when she saw one and boldly predicted that under an Obama presidency Russia would seize Ukraine.  Which they are doing.

Anyone who believes a damn word our Liar-in-Chief says is an abject fool who deserves destruction.  If our allies believe a word Obama says, they’re stupid.  And you can rest assured our enemies are salivating at the weakness and fecklessness of Obama’s “God damn America.”

Obama says baloney that laughingly tries to spin reality by claiming he’s winning (much like Charlie Sheen’s “winner” with his “tiger blood” nonsense).

But even the Los Angeles Times had this to say about whose “winning.”

It turns out that Vladimir Putin has more admirers around the world than you might expect for someone using a neo-Soviet combination of violence and the big lie to dismember a neighboring sovereign state. Russia’s strongman garners tacit support, and even some quiet plaudits, from some of the world’s most important emerging powers, starting with China and India. […]

Beside this realpolitik, I was told, there is also an emotional component. Chinese leaders such as Xi Jinping, who grew up under Chairman Mao, still instinctively warm to the idea of another non-Western leader standing up to the capitalist and imperialist West. “Xi likes Putin’s Russia,” said one well-informed observer. […]

Last month, Putin thanked India for its “restrained and objective” stance on Crimea. India’s postcolonial obsession with sovereignty, and resentment of any hint of Western liberal imperialism, plays out — rather illogically — in support for a country that has just dramatically violated its neighbor’s sovereignty. Oh, and by the way, India gets a lot of its arms from Russia.

And there are others. Russia’s two other partners in the so-called BRICS group, Brazil and South Africa, both abstained on the U.N. General Assembly resolution criticizing the Crimea referendum. They also joined Russia in expressing “concern” at the Australian foreign minister’s suggestion that Putin might be barred from attending a Group of 20 summit in November.

What the West faces here is the uncoiling of two giant springs. One is the coiled spring of Mother Russia’s resentment at the way her empire has shrunk over the last 25 years.

The other is the coiled spring of resentment at centuries of Western colonial domination. This takes very different forms in different BRICS countries and members of the G-20. They certainly don’t all have China’s monolithic, relentless narrative of national humiliation since Britain’s Opium Wars. But they do share a strong and prickly concern for their own sovereignty, a resistance to North Americans and Europeans telling them what is good for them, and a certain instinctive glee, or schadenfreude, at seeing Uncle Sam (not to mention little John Bull) being poked in the eye by that pugnacious Russian. Viva Putinismo!

Obviously this is not the immediate issue on the ground in Ukraine, but it is another big vista opened up by the East European crisis. In this broader, geopolitical sense, take note: As we go deeper into the 21st century, there will be more Ukraines.

Timothy Garton Ash is professor of European studies at Oxford University, a senior fellow at Stanford’s Hoover Institution and a contributing writer to Opinion. His latest book is “Facts Are Subversive: Political Writing From a Decade Without a Name.”

Vladimir Putin has “tiger blood.”  Barack Obama has “chicken blood.”

Russia is winning and winning big.  Particularly since the civil war in Syria when Obama issued his “red line” and then did NOTHING after that red line was repeatedly crossed, nobody believes ANY of Obama’s worthless threats.

Within months of Obama’s “red line” warning, it was discovered that Syria had not only used chemical weapons, but in fact had used them at least FOURTEEN TIMES.

And damn, they just got through using them AGAIN.

But it’s okay, because Obama has that treaty that his good fascist pal Putin put together for him to make him look slightly less weak and feckless.  Now Syrian dictator Assad is safely in power, and free to continue his vicious civil war in which he’s murdered more than 100,000 of his own people.

It’s worse than a horror movie over there.  But don’t worry, Obama’s got his “peace in our time” piece of paper to wave around to his adoring and fawning fascist press.

Weak, feckless, moral cowardice.

And Obama has failed so miserably in Egypt, Syria, Iran, Iraq, Libya, Afghanistan, and you basically name it, it’s beyond sick.

We are just beginning to learn how wildly Obama has failed America in Afghanistan.  It will be awful and it will get worse.

The number one thing Obama could do to lay a serious hurting on Russia short of going to all-out war would be to get agreements to begin filling the void to supply the oil and natural gas that Russia currently supplies Europe.  That would a) strengthen America and the American economy and b) weaken Russia and the Russian economy and c) undermine Russian influence in both Western AND in Eastern Europe in one fell swoop.

And what did Obama do?  Make a purely political decision to hold off approving the Keystone Pipeline – to the enragement of one of our few remaining allies Canada – until AFTER the 2014 election so his rejection of it won’t make the slaughter of Democrats even worse.

Because he’s owned by the radical environmentalists who want most of the world’s human population to die and who want America to be economically broken rather than being the engine of manufacturing that made it great.

To the extent that we have any cards to play after six years of Obama, Obama refuses to play them.  Obama is like a man who pimps out his girlfriend and keeps counting on his “bitch” to keep loving him and bringing him “his” money.  Only, tragically, Obama’s “bitch” has been the United States of America.

Sadly, America has been a faithful bitch indeed to her pimp Obama even though he keeps prostituting her to his cynical political interests.  To her own massive hurt.

So things are truly going to hell under Obama in the Atlantic.  But at least Obama is in control of things in the Pacific, right?

Wrong.

And so I turned to the Los Angeles Times this morning to find this:

WASHINGTON — Two and a half years after President Obama vowed to shift America’s diplomatic, economic and military focus to Asia, he will head back to the region this week to try to convince allies and adversaries alike that he really meant it.

Since the much-touted decision to “pivot” to Asia, the Obama administration has found itself repeatedly pulled away by crises in the Middle East, political battles in Washington and, more recently, turmoil in Ukraine. […]

The result is anxiety among allies, and questions about the U.S. commitment to establishing a counterweight to China’s growing economic clout and military assertiveness.

“In polite company people won’t say it, but behind closed doors I think they’ll openly ask where the pivot is,” Victor Cha, former director for Asian affairs in the George W. Bush administration, said at a recent forum at the nonpartisan Center for Strategic and International Studies.

This not being a “polite circle,” I’m free to point out reality: Obama LIED.

Obama’s “pivot to Asia” is as much of a joke as his “pivot to the economy” was.  I mean, I remember him doing that over and over and over and over and over again.

Obama’s “pivot” is “just words.”  You know, like, “If you like your doctor, I guaran-damn-tee you that you’ll be able to keep your doctor and your health plan.  Unless I’m a lying Nazi, that is.  In which case, April Fools!”

As China realizes that Obama is a weakling cowardly incompetent fool the same way Russia realized it, do you think that Obama will be able to promise his way out of a mess given all of his past lies and past displays of weakness and fecklessness?

This is a nation on it’s way down.  And thanks to the most wicked electorate in the history of the republic, it is a nation on its way out.

The Bible prophesied long ago that America would be nowhere to be found in the last days.

Because “God Damn America” doesn’t get to stick around.  Not after we elected a baby-murdering sodomite worshiper – twice.

How far we have fallen in such a short time!  And how hard we have yet to fall when the artificial bubble we think will remain around us forever very shortly bursts.

I pointed out above how badly Obama has hurt the poor as he’s given the rich their money (because those rich people LOVE Democrat crony capitalist fascism).

Consider the fact that under Obama, cattle levels have declined to their lowest levels since 1951 when Harry Truman was president.

Meat prices have never been higher in the entire history of the republic.

What has Obama’s response been?  Well, his thug Bureau of Land Management just literally tortured and executed cattle of the very last rancher in a county that used to be dominated by cattle ranching.  If I heard correctly, one cow was discovered that had six bullet wounds.  The BLM admitted to executing the cattle on the grounds that they were “rowdy.”  Which is probably the pretense Obama used to use his thug IRS to intimidate and harass tea party conservatives for being “rowdy” enough to think they had a right to exercise their constitutional rights.  I’m sure the BLM agents heard some of the cattle uttering “anti-Obama rhetoric” and they had to punish their enemies.  We’re all “cattle” to Obama.  In addition to at least two mass graves – many of the cattle being the mothers who give birth to calves to keep the business going – the Bundy family discovered that the BLM thugs had essentially vandalized many improvements to the land such as tearing up water pipes.

So yeah, the next time you buy beef or anything with beef in it, thank Obama for the incredibly high price you pay.

And food prices in general have skyrocketed.  While your wages under Obama have plummeted.

It’s just a foretaste of what the Book of Revelation prophesied would happen in the last days as a wicked world worshiped the beast rather than God.

Obama arrogantly promised to lower the level of the oceans; but because he has brought America under the wrath of God for his worship of abortion and homosexual sodomy marriage, what he HAS done is lower the level of all the fresh water in America as we are OWNED by crippling drought in his God damn America.

Famine and drought are very much signs of God’s judgment.

Realize that as you vote “Democrat” and thus vote for the wrath of a holy God according to Romans Chapter One.

 

 

 

 

 

 

 

 

 

 

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Joe Biden Says Middle Class Buried Last Four Years. He’s Right: Under Obama, Gas Prices Double, Incomes Plunge, Food Prices Soar And Jobs Vanish.

October 3, 2012

From the mouths of drooling babes comes wisdom?  The words of Joe Biden:

“This is deadly earnest,” Biden said. “How they can justify — how they can  justify raising taxes on the middle class that’s been buried the last four  years.”

Whoever the hell has been president and vice president ought o be fired.  Hell, they ought to be criminally prosecuted and then executed.  What’s that?  Ooops.  That’s me and Obama, isn’t it?  Well, never mind, then!”

Here’s the story:

Biden says middle class ‘buried’ the last 4 years, Republicans pounce
Published October 02, 2012
FoxNews.com

Vice President Biden said Tuesday that the middle class has been “buried the  last four years” — a practically gift-wrapped gaffe that Republicans  immediately grabbed to hammer President Obama on the eve of the first  presidential debate.

Biden made the remark at a campaign stop in Charlotte, N.C., in the course of  slamming Republican tax policies which Democrats claim would cut taxes for the  rich and hike them for the middle class.

“This is deadly earnest,” Biden said. “How they can justify — how they can  justify raising taxes on the middle class that’s been buried the last four  years. How in the lord’s name can they justify raising their taxes with these  tax cuts?”

Mitt Romney, it turns out, couldn’t agree more with the first part.

He tweeted: “Agree with @JoeBiden, the middle class has been buried the last  4 years, which is why we need a change in November #CantAfford4More.”

Running mate Paul Ryan echoed, saying at a rally in Iowa that “we need to  stop digging” and elect Romney.

Both the Romney campaign and The Republican National Committee got to work  blasting out a clip of the comment Tuesday  afternoon, in what the Obama campaign decried as a “desperate and out-of-context  attack.”

But Republicans used the remark to hammer home claims that Obama’s economic  policies have hurt the middle class, in advance of a debate where the economy is  sure to feature prominently.

An RNC official told FoxNews.com: “Joe Biden said what so many Americans are  feeling every day. For four years, the middle class has been buried by Obama’s  failed policies from higher taxes to more debt which is why he has a difficult  time explaining why he deserves another term in the White House.”

A Romney campaign email also included numerous examples of the middle class  being “buried” during Obama’s term — by debt, by high unemployment and by  falling incomes.

An Obama campaign official countered, blaming Republican policies for  crushing the middle class — well before Obama took office.

“As the Vice President has been saying all year and again in his remarks  today, the middle class was punished by the failed Bush policies that crashed  our economy — and a vote for Mitt Romney and Paul Ryan is a return to those  failed policies. With more than five million private-sector jobs created since  2010, the Vice President and President Obama will continue to help the middle  class recover and move the nation forward,” the official said.

The first presidential debate will be held Wednesday in Denver and will focus  on domestic policy.

Fox News’ Nick Kalman contributed to this report.

For the record, ObamaCare is not only a tax hike on the middle class, but in fact the LARGEST tax hike on the middle class in the history of the republic, with 21 new taxes that will disproportionately fall on middle class families.  So, yeah, it’s a valid question.  Given that Obama has “buried the middle class during his four-year regime,” how the hell can he justify imposing all these taxes when he looked the American people in the eye and repeatedly told them he wouldn’t increase their taxes so much as one dime???

But Obama has done far more damage to the middle class than that:

Obama’s War on the Middle Class: Gas Prices Double – Incomes Drop – Jobs Killed
Posted by Jim Hoft on Monday, October 1, 2012, 12:38 PM

Barack Obama hates the poor and middle class. (RSG)

Thanks to Barack Obama gas prices doubled, incomes dropped, unemployment soared and the deficit nearly tripled in less than four years. The poor and middle class suffered the most.

The Republican Study Group released this information.

A few points about the chart above, which visualizes these trends all too well. **  According to analysts at Sentier Research, median household income has dropped $4,520, or about one month’s average wages, since President Obama took office. **  The average price for a gallon of gas has more than doubled since January 2009, from under $2 to now almost $4.

More… Obama is a net jobs killer

If that damn chart above were a hail Mary football play, the two wide receivers would have run smack into each other and knock each other silly.  Which is pretty much a metaphor for the entire Obama presidency.

Oh, yeah, by the way, food prices have skyrocketed since Biden’s boss took over (see more here).  Sooo, I guess that kind of sucks for the middle class, too.

And the median household income has plunged by 8.2 percent since Barack Obama and Joe Biden took office.  That can’t be good for the middle class.

And the labor force participation rate has gone down more dramatically under Obama’s failed presidency than any president’s in the history of the republic, and it is now at the lowest level in well over thirty years.  How’s that working for the middle class?  How’s it working for the middle class that if we calcuated the unemployment rate by the same labor participation rate that Bush handed to Obama, unemployment would be measured at 11.6 percent  now???

For every job Obama “adds,” there are FOUR workers who drop out of the workforce.  How’s that working for the middle class?  How is it working for the middle class that there are four million fewer jobs today than there were when Obama took office?

 Last year new start-up businesses were at the lowest level EVER measured in the 25-year history of recording that statistic; this year new start-up businesses plunged by another 24%.  I’m sure the middle class isn’t too happy about that, given that those jobs Obama has destroyed by demonizing the people who create those jobs are the very jobs that the middle class most depends on.

If you’re a middle class retired person, it’s even suckier for you in this “No, no, no, NOT God bless America!  God DAMN America” administration: when Bush left office, a person could put their retirement nest egg of $300,000 into a secure bond and live off of the $1,500 a month interest.  And if things went well, why, you’d leave your children and grandchildren a nice sum to remember you by in fulfillment of the American Dream to give your children better off than you were.  Now, thanks to Obama’s QE1, QE2, Operation Twist and then let’s do QE3, that same nest egg gives you $200 a month and you’re pretty well screwed, aren’t you?

Finally, Biden screwed up so badly trying to demonize Romney for increasing taxes on the middle class, which is an outright lie.  Name the Republican who has offered a plan to increase taxes on the middle class.  Versus Obama-Biden, who in fact have passed the largest tax increase on the middle class in the history of the republic.  Obama and Biden have both slandered Republican policies by asserting that tax cuts result in low revenues and therefore according to some liberal think tank that used radically leftist presuppositions, if the rich didn’t get their taxes hiked the middle class wold therefore have to somehow pay more taxes.  That is a lie.  That is a provable lie.  If you go back to the Bush tax cuts, you will find that tax revenues increased massively.  Even the New York Times was forced to acknowledge that tax revenues increased just as Republicans said they would.  If you go back to the Reagan tax cuts, you will see that tax revenues increased massively.  If you go back to John F. Kennedy’s tax cuts, you will see that tax revenues increased massively; and if you go all the way back to Calvin Coolidge’s tax cuts, you will see that tax revenues increased massively.  Liberals deny reality.  They cannot even begin to comprehend the real world.

It’s stuff like this that makes the REAL middle class want Obama and Biden to get the hell out of Washington.  Middle class voters favor Romney by 14 points (55 to 41 percent).  And Democrats trying to say that middle class voters favor Obama would be like Republicans saying that female grad students who demand that government pay for all their birth control favor Romney.

With QE3 Federal Reserve And Obama Administration Fully Qualify For Definition Of Insanity (Doing SAME Thing Over And Over And Expecting Different Results)

September 14, 2012

Things aren’t getting better.  Obama told you a lie.  Democrats have been telling you lies.  I (and other conservatives) have accurately and reliably told AND PREDICTED the truth from the get-go.  As I will document in this article.

First of all, the QE3 that was launched today is an open recognition of the failure of the Obama administration by the Federal Reserve.

The initial title of this article – as you can see by examining the link itself – was “GOLDMAN: Bad Jobs Report Puts Odds Of QE Next Week Above 50%.”

GOLDMAN: It Looks Like QE Is Coming Next Week
Joe Weisenthal|Sep. 7, 2012, 8:47 AM

Quick blast outta Goldman.

BOTTOM LINE: With today’s August employment report showing a nonfarm payroll gain of 96,000 and an unemployment rate of 8.1% because of a drop in the participation rate, we expect a return to unsterilized and probably open-ended asset purchases at the September 12-13 FOMC meeting.

MAIN POINTS:

1. We now anticipate that the FOMC will announce a return to unsterilized asset purchases (QE3), mainly agency mortgage-backed securities but potentially including Treasury securities, at its September 12-13 FOMC meeting. We previously forecasted QE3 in December or early 2013. We continue to expect a lengthening of the FOMC’s forward guidance for the first hike in the funds rate from “late 2014” to mid-2015 or beyond.

So this isn’t a “good thing.”  This is a bad thing.  The 200 point increase in the stock market is a temporary blip and ultimately only the institutional investors who can move money around in microseconds will be able to benefit from it.

Here’s another article I wrote back in August that cites proof that the QE3 that we just saw Friday is the result of the Obamanomics disasterThe Fed simply didn’t launch QE3 because Obama’s economic policies are working; they did it because Obamanomics has utterly failed.

Second, let’s look at the “success” of quantitative easing:

Here’s more on that from an article I wrote back in August 2011.  Notice that I predicted with complete accuracy that QE2 would fail and that we would be at precisely the point where we are now trying a THIRD round of quantitative easing.

And this isn’t really even “QE3”; it’s really “QE4.”  Because Operation Twist basically WAS QE3.  It was certainly at the very least a “primer” for QE3.  I’m hardly the only one to say that, as it’s rather easy to show.  Just how many times do we have to keep trying this???

As long as Wall Street keeps getting its massive doses of sugar (really more like crack cocaine) from the government, it keeps feeding and feeding from the massively-government-subisidized feeding trough.

Look at the chart above and answer this question: if I were a drug addict pursuing doses of crack, how would a graph of my behavior look different?  I’d have my hit (QE1) and then crash; then I’d take another hit (QE2) and then crash; so I’d need another hit (QE3).  And then another one, ad infinitum.  That is the nature of destructive addictive behavior; and the addict either changes or he dies.  We’ll see in November if we’re ready to change or if we want to keep pursuing economic crack until we collapse and die as a nation.

How many times do you keep doing the same thing?  Now that we are at “QE3,” how is this not the classic definition of insanity???

What do you think the odds are that the market is going to tank again just like it did the first two times in anticipation of a QE4????  And you need to realize that a vote for Obama IS a vote for QE4.  And QE5.  And we’ll be a banana republic before Obama’s Fed would have a chance to do a QE6.

Not counting QE3 today, the Federal Reserve has pumped (or dumped) more than $2.3 trillion in money that it invented by adding zeros to their computer under Obama.

Let me ask you a question?  Where did that $2.3 trillion go?  Are you richer???

You sure aren’t.  In fact, even if you blame the ENTIRE recession on Bush (as liberals invariably do), Obama has still been very nearly TWICE as disastrous for household incomes in his “recovery” than you can blame Bush for during “his” recession.  You’re being lied to every single day.

When George Bush left office, a senior citizen with $300,000 in bonds – basically a fairly average retirement nestegg – could collect $1,500 a month in interest.  Which was enough for them to live on and be able to have the principal for emergencies and hopefully be able to leave that principal to their children.  But Obama and Bernanke have obliterated that; now that same $300,000 is producing only $200 a month in interest.  Which is very obviously nowhere NEAR enough to live on.  And so senior citizens are eating away at that nestegg that they counted on at a very alarming rate.  Obama and his failed policies have screwed these people – and the mainstream media will NOT talk about it.

Now the Fed balance sheet is going to be over $3 trillion.  And you can add to that shocking tally another $40 billion every single month for the foreseeable future.  Before Obama took office, it was $800 billion.  Nobody’s talking about what that massive devaluation of our currency is going to ultimately cost us.  Nobody is talking about the fact that the people who are going to pay the highest tax as a result of this action – and it IS a regressive tax – will be retirees who will see the value of their savings drop even as they look at interest rates and pension funds that pay them nothing.  Retirees are not in a position to snort the crack of quantitative easing; they depend mostly on bonds.  And the Obama administration and the Federal Reserve have decided to stab the bond market  that older investors necessarily depend upon in the heart to artificially inflate the stock market.  Until they have to do it again.  And again.  And of course pretty soon again and again after that.

Commodities like oil and food – which conveniently are being ignored as proof positive that we are already seeing MASSIVE inflation – will continue to go up and up and up (see here and here and here for examples).   The fact of the matter is that prices are rising dramatically and HAVE BEEN rising dramatically, and what just happened today will sure that they CONTINUE to rise dramatically.  And everybody but Obama and the Federal Reserve know it.

I put it in biblical terms here.  And I pointed out:

The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2. Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres). Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air. The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks. And QE2 is set to end in June.

This means QE3, and then of course QE4. Because “QE” means “Quack Economics” far more than it should mean anything else.

I also pointed out that this would fail way back in 2010.  And I pointed out that all the Federal Reserve is doing is monetizing Obama’s damn insane deficits.

But the real inflation monster is still yet to come.

Back in May of last year I wrote this:

QE2 is the economic equivalent of sugar in nutrition. Will it provide quick energy? Sure it will. Will that quick energy come at the expense of future health? You bet it will.

Right now, as a result of the Obama Federal Reserve’s policy of increasing the monetary supply by buying debt from itself (literally creating money out of thin air), there is more economic activity. Right now, as a result of this policy, credit rates are lower. Fewer banks and corporations are going under because of the ready access to cheap money. Investors see the stability and invest.

We should all feed our children tons of sugar, so we can enjoy the short term bonanza of frenetic activity.

Unless you worry about all the cavities, the weight gains, the diabetes, and of course that huge depressing crash with all of those catastrophic health consequences that necessarily come later.

The first time we ended QE1, the stock market lost 16% of its value in two weeks. Which is to say it didn’t work the first time for the same reason it won’t work this second time. Or a necessary third time, etcetera.

One of the more sinister effects of quantitative easing is that it essentially becomes a tax on saving. You were busy at work putting away as much as you could during a period when your money was worth more. But now, as a result of artificially increasing the money supply, all that money you accumulated in saving is worth less. Why is this? Because you can increase the money supply all you want, but you’ve still got the same finite amount of goods and services. And when you’ve got twice as many dollars in the money supply as you had before, over time those same goods and services will cost twice as much as before, and so on.

Right now, prices are going up dramatically on virtually everything that matters. And yet the only ones who refuse to admit it are the federal government and its staunchest mainstream media propagandists who think and report what the Obama regime wants them to think and report.

In another article I wrote over two full years ago:

An increase in the money supply is rather like an overdose of drugs. And in this case the effect of the overdose will be hyperinflation. Basically, the moment we have any kind of genuine recovery, our staggering deficit is going to begin to create an ultimately gigantic inflation rate. Why? Because we have massively artificially increased our money supply beyond our ability to actually produce real wealth, and that means that money will ultimately be devalued. There’s simply no way it can’t be. If simply printing money solved financial problems, the government could just mail everyone several million dollars, and we could all retire. The problem is that more money chasing a limited supply of goods simply pushes up prices higher and higher without doing anything to solve the underlying economic problems. If we have a recovery, with increased economic activity, there will be increased demand on the money supply, forcing an upward climb in interest rates as a means of controlling the currency. And then we’ll begin to seriously pay for Obama’s and the Democrat Party’s sins. Paradoxically, the only thing preventing hyperinflation now is the recession, because people aren’t buying anything and therefore aren’t competing for those limited goods.

THAT is why we haven’t yet experienced truly catastrophic inflation YET.  But the moment we ever actually start to get out of the economic hellhole Obama has dug us into, we will see inflation at levels that will shock and dismay you.  You mark my words.

Now that we are officially at QE3, I want you to watch this video to see what necessarily awaits you:

Get ready, because the American economy WILL be going on a scary ride:

Rising Cost Of Obama Liberalism Spiking The Price Of Your Easter Dinner

April 7, 2012

Meat is becoming a luxury item at the food banks under Obama’s “hope and change.”  From the AP:

Ham prices high heading into Easter holiday
JOSH FUNK AP Business Writer Published: April 4, 2012 7:49PM

OMAHA, Neb. (AP) — Ham will be the centerpiece of many Easter dinners this weekend, but the cost of that traditional main dish may make it harder for families to live high on the hog.

Ham prices have been higher than usual for the past two years because the cost of hog feed has gone up, and some major pork producers are spending millions to convert barns as they phase out cramped cages used to confine pregnant sows.

Ham has been selling wholesale for 75 to 80 cents per pound this spring, which is in line with last year’s prices but well above the 55 cents per pound average for the previous five years.

A recent check at one Omaha-area supermarket found boneless Hormel hams selling for about $2.20 per pound, with bone-in hams slightly cheaper. With sales offered this week to attract Easter shoppers, it was possible to get a bone-in ham for as little as $1.28 per pound.

Paula Vejvoda of Omaha said she’s had her Easter ham in the freezer since Christmas, when she bought it on sale so she could economically feed her two daughters, two exchange students and husband.

“You really have to watch the ads and see who has the best price,” Vejvoda said.

That’s good advice for families, but hard to do when you’re trying to provide ham for hundreds of people at a food pantry.

Joyce Lonergan, food pantry director at St. Anthony’s Shrine in downtown Boston, said she tries to arrange to have a special meal at each holiday to help boost people’s spirits, but the prospect seemed daunting when the pantry began shopping for hams back in January. They were selling for $2.30 per pound, not the 99 cents per pound paid last year.

With added donations and some breaks from suppliers, St. Anthony’s was able to secure ham steaks and chickens for the holiday meal.

“We’ve made it work only because people have been so generous,” Lonergan said.

Livestock economist Shane Ellis said the price of ham isn’t likely to drop soon because pork producers’ costs aren’t decreasing. Feed, which is mainly corn, is running about $6 a bushel — not far from the record $7.99 per bushel set last June.

Pork producers also are switching from gestation crates to more open pens amid public pressure from consumers and animal welfare advocates who believe the smaller cages are cruel. One major producer, Smithfield Foods, recently said it expects to spend nearly $300 million by 2017 to convert its barns.

The switch also requires more labor to manage the sows because they tend to fight. Some of those costs are likely to be passed on to consumers.

Americans consume about 51 pounds of pork a year on average, according to the U.S. Department of Agriculture.

While ham is a traditional element of many Easter meals, Ellis said prices typically peak in June, near the height of the grilling season when demand is highest. The low point is usually at the end of the calendar year because that’s when large numbers of hogs reach the market.

Many organizations, like the Food Bank for the Heartland, don’t even attempt to deliver a special holiday meal to the people they help because their goal is to offer the most nutritious food at the lowest possible price.

Donations from business and individuals have been down over the past two years, making it harder to keep up with the need in the 93 counties in eastern Nebraska and western Iowa that the food bank serves, spokesman Brian Barks said.

Most food pantries, shelters and other programs receiving food from the Omaha food bank this Easter will receive staples like pasta, peanut butter or canned chicken. The food bank recently received 4,200 3-pound hams from the USDA, but Barks said those were gone within a couple of weeks.

“Meat has almost become a luxury item at the food bank,” he said.

That 55 cent wholesale price average (under Bush) to Obama’s new 80 cent price amounts to a 45.45 percent increase.  And the food pantries that are seeing their prices spike from 99 cents last year to $2.30 this year?  That’s a  132.32 percent increase in the price of food for poor people.  Which amounts to a “Happy Easter Hope and Change” from your false messiah.

And why can you point a finger at liberals?  There were two reasons given for the price spike – and both are DIRECTLY the fault of the left.

The first was the price of feed.  Why is feed so sky-high?  Because Obama and his liberal swine (a fitting term when talking about ham being so out-of-control due to liberals) have doubled-down and then tripled-down on ethanol subsidies – which have artificially and massively increased corn prices as we are literally burning our food to replace the hated oil which is far cheaper without massive subsidies.

The second reason – and what do you know, this is also right out of the liberal playbook – is the huge costs and labor associated with keeping liberals from demonizing hog farmers for their “inhumane conditions” (reality alert: pigs aren’t considered humans except when they vote “Democrat”).  It sure aint right-wing Rush Limbaugh conservatives throwing paint at women who wear fur.

So, just to make sure I’m clearly stating my point: this is ENTIRELY DUE TO THE LEFT.

Along with fuel (which rose from $1.85 to $3.94 under Obama’s watch for a massive 114 percent increase) and out-of-control rent prices (people can’t buy homes after Obama’s failed policies and then add in gigantic food inflation, the result is huge competition for rentals), and you have a shocking regressive tax on the poor whom Obama is always falsely saying he’s helping.

Inflation Back On The Table As Part Of Obama’s ‘Hope and Change’ Misery Buffet

April 7, 2012

Obama loves the poor: that’s why he’s created so damn many of them.

In the God damn America of Barack Obama, the poor people that Obama promised his policies would save are (of course) unable to buy a house while watching their rents skyrocket.

They could live in their cars, but damn it’s too expensive for them to pay the regressive tax of Obama’s gas prices.

Of course, it used to be that you could always at least find a minimum wage job to help make ends meet – but Obama in his abundant compassion kept milions from that kind of drear and drudgery.

The thing is, Michelle Obama would never say, “Let them eat cake” and is frankly offended that cake is being wasted on the proletariet who clearly don’t deserve cake until November when it’s time to vote again.

There is a shocking increase in food prices:

As is often the case, there is a big difference between what the government statistics are reporting and what’s going on in the real world. According to the most recent inflation reading published by the Bureau of Labor Statistics (BLS), consumer prices grew at an annual rate of just 1.1% in August.

The government has an incentive to distort CPI numbers, for reasons such as keeping the cost-of-living adjustment for Social Security payments low. While there’s no question that you may be able to get a good deal on a new car or a flat-screen TV today, how often are you really buying these things? When you look at the real costs of everyday life, prices have risen sharply over the last year. For simplicity’s sake, consider the cash market prices on some basic commodities.

On average, our basic food costs have increased by an incredible 48% over the last year (measured by wheat, corn, oats, and canola prices). From the price at the pump to heating your stove, energy costs are up 23% on average (heating oil, gasoline, natural gas). A little protein at dinner is now 39% higher (beef and pork), and your morning cup of coffee with a little sugar has risen by 36% since last October.

Good thing Obama can use the same math to calculate inflation that he’s using to calculate his uemployment rate.  That way he and his media propaganda can keep assuring us that things are going just swell.

Mitt Romney sums up Obamanomics thus:

“Today, we have a different set of ailments. Instead of unemployment coupled with inflation, we have a toxic blend of unemployment, debt, home foreclosures, and bankruptcies,” he says. “Their sum total is what we can call the Obama Misery Index. It is at a record high. Indeed, it makes even the malaise of the Carter years look like a boom.”

Since a picture is worth a thousand words, I sum up Obamanomics this way:

I hope none of this is giving anybody a headache.  Because ObamaCare is all about dumping millions of patients into Medicaid – and doctors are fleeing Medicaid the way rats flee sinking ships.  And lifesaving drugs are becoming as scarce thanks to the brave new world of ObamaCare as bread was on the shelves of the former Soviet Union.

After Setting Middle East On Fire And Allowing Iran To Build The Bomb, Obama Follows Up By Dismantling America’s Nuclear Deterrent

October 27, 2011

A picture is worth a thousand words, so:

Obama has set the Middle East on fire.  He didn’t do it via “hope and change” there any more than he inspired it in the broken wreck he’s made out of America.

He did it by devaluing and destabilizing the U.S. dollar which every Middle Eastern nation that has anything to do with oil has to base their own currency on (oil is bought and sold exclusively in U.S. dollars).  What is just really, really bad food inflation here has been catastrophic in the much weaker Middle Eastern economies.

That people are actually so utterly stupid that they are looking at the shocking damage Obama has made of foreign policy is proof that we are in the very last days just before the world chooses to worship the satanic beast of the Book of Revelation.

So Obama has set the Middle East on a fire that is continuing to burn out of control.  He has allowed Iran to grow closer and closer to its goal of having nuclear weapons and the nuclear immunity that will accompany it.

And he is simultaneously dismantling the American nuclear arsenal – and the deterrent that that arsenal created for the last sixty damn years:

US’s Biggest Nuclear Bomb Dismantled in Texas
By BETSY BLANEY Associated Press
AMARILLO, Texas October 25, 2011 (AP)

The last of the nation’s biggest nuclear bombs, a Cold War relic 600 times more powerful than the atomic bomb dropped on Hiroshima was dismantled Tuesday in what one energy official called a milestone in President Barack Obama’s mission to rid the world of nuclear weapons.

This is God damn America.  And God will surely damn the American people for electing the greatest fool who ever lived as he labors unceasingly to bring about World War III and Armageddon.

We can go back a few years, to when demonic, vile, un-American Democrats – including Barack Obama, Joe Biden and Hillary Clinton – demonized George Bush for trying to prevent Iran from developing nuclear weapons.  And we can zoom ahead and see how the same weakness that epitomized the Democrat Party has taken America to new depths of weakness since.

When I say that the Democrat Party is under the direct control of Satan, I tell no lies.

Now Iran has the bomb, Russia and China are arming themselves and the United States of America under the biggest fool who ever sat in the Oval Office is dismantling the only thing that gives us any power following Obama’s destruction of the US economy.

God damn America does not have long to go.

AP-Reported FACT: U.S. Economy The Worst Since The LAST Time We Let A Socialist Run It

July 11, 2011

The Los Angeles Times print edition ran this story on July 2 under the considerably more Marxist headline, “Wealthy benefit from recovery as workers struggle“:

U.S. Recovery’s 2-Year Anniversary Arrives With Little To Celebrate
First Posted: 07/ 1/11 05:33 PM ET Updated: 07/ 1/11 05:33 PM ET

WASHINGTON (AP) — This is one anniversary few feel like celebrating.

Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.

After previous recessions, people in all income groups tended to benefit. This time, ordinary Americans are struggling with job insecurity, too much debt and pay raises that haven’t kept up with prices at the grocery store and gas station. The economy’s meager gains are going mostly to the wealthiest.

Workers’ wages and benefits make up 57.5 percent of the economy, an all-time low. Until the mid-2000s, that figure had been remarkably stable — about 64 percent through boom and bust alike.

[…]

But if the Great Recession is long gone from Wall Street and corporate boardrooms, it lingers on Main Street:

Unemployment has never been so high — 9.1 percent — this long after any recession since World War II. At the same point after the previous three recessions, unemployment averaged just 6.8 percent.

The average worker’s hourly wages, after accounting for inflation, were 1.6 percent lower in May than a year earlier. Rising gasoline and food prices have devoured any pay raises for most Americans.

The jobs that are being created pay less than the ones that vanished in the recession. Higher-paying jobs in the private sector, the ones that pay roughly $19 to $31 an hour, made up 40 percent of the jobs lost from January 2008 to February 2010 but only 27 percent of the jobs created since then.

[…]

Hard times have made Americans more dependent than ever on social programs, which accounted for a record 18 percent of personal income in the last three months of 2010 before coming down a bit this year. Almost 45 million Americans are on food stamps, another record.

[…]

Because the labor market remains so weak, most workers can’t demand bigger raises or look for better jobs.

“In an economic cycle that is turning up, a labor market that is healthy and vibrant, you’d see a large number of people quitting their jobs,” says Gluskin Sheff economist Rosenberg. “They quit because the grass is greener somewhere else.”

Instead, workers are toughing it out, thankful they have jobs at all. Just 1.7 million workers have quit their job each month this year, down from 2.8 million a month in 2007.

The toll of all this shows in consumer confidence, a measure of how good people feel about the economy. According to the Conference Board’s index, it’s at 58.5. Healthy is more like 90. By this point after the past three recessions, it was an average of 87.

How gloomy are Americans? A USA Today/Gallup poll eight weeks ago found that 55 percent think the recession continues, even if the experts say it’s been over for two years. That includes the 29 percent who go even further — they say it feels more like a depression.

Allow me to start with the second paragraph in the story:

“Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.”

The weakest and most lopsided of any recovery since the 1930s, you say???

WHO WAS PRESIDENT IN THE 1930s?  WHICH PARTY DOMINATED BOTH THE HOUSE AND THE SENATE IN THE 1930s?

And next let me ask you, “Are there any similarities between socialist Democrat Franklin Delano Roosevelt and socialist Democrat Barack Hussein Obama???  And the answer is, “HELL YES THERE ARE!!!”:

Which is to say, “This is the worst the U.S. economy has ever been since the LAST time we had a socialist just like FDR – and the mainstream media proudly hailed Obama as FDR and Obama’s as a NEW “New Deal.”

But here’s the truth:

FDR prolonged — not ended — great depression

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

”Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. ”We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

[…]

”The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. ”Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”

And of course all the “experts” the mainstream media love to trot out have all bought hook, line and sinker the notion that capitalism is something to be loathed and feared.  So they demand that America pursue asinine government stimulus policies that fail even by the “experts'” own standards, and then these same “experts” proceed to argue that the economy failing to recover somehow is proof that more of the same thing that already failed is necessary.

These “experts” whom the mainstream media give a loud microphone to to espouse their socialist views are pathologically incapable of seeing this connection between socialist policies and an economy in the doldrums.  Every bit of negative economic news is invariably “unexpected” (liberals favorite adjective to wave a hand at bad economic developments whenever a Democrat president is in charge), because these “experts” cannot separate the inevitable results of their ideology from their terribly failed ideology.  There has to be a disconnect, or more commonly, a scapegoat.

I can simply re-cite my conclusion from a previous article to find a particularly laughable example of this phenomena:

I think of the Soviet Union, which literally blamed the total failure of their entire political philosophy and the ruinous policies that philosophy entailed by claiming that their agricultural output had been adversely affected due to 72 years of bad weather.  And the Soviet Union has gone the way of the Dodo bird for that very reason.

Is America under Obama the next Dodo bird to fall apart while we’re assured that everything is fine while some suitable scapegoat bears the blame for every failure that can’t be ignored???

It couldn’t be the fact that socialism is nothing more than state-planned economic failure.  It had to be something else, ANYTHING else.

The Big Brother from the novel 1984 had Emmanuel Goldstein.  The Big Brother who is now occupying our White House has George W. Bush.

The next obvious question to ask and answer is, “Why are the wealthy benefitting while the workers struggle?”

The answer is twofold: 1) because when you attack the employers, the first thing to go is the employees and 2) because that’s exactly how crony capitalism works.

There is a magnificent book entitled, New Deal Or Raw Deal?  How FDR’s Economic Legacy Has Damaged America, which should be required reading.  Burton Folsom Jr. points out that when FDR structured his many policies and regulations that strangled economic growth, he did so in such a way that favored the big crony capitalist corporations at the expense of the smaller businesses that could no longer compete given the costly regulatory requirements.  The smaller businesses were forced out of the market while the big businesses protected themselves with insider deals based on access to and influence with the government that only they could afford.  And there is no question whatsoever that – even as FDR employed the class warfare of socialism – the rich got richer while the poor got poorer.  Income tax revenues plunged as the wealthy sheltered their wealth from the high tax rates and the poor paid an increasingly high overall percentage of tax revenues via excise taxes.  Regulations mandating higher pay for workers priced those workers right out of their jobs.  Folsom provides the official data to back it up.

Check out this fact from page 127 of New Deal or Raw Deal?:

In 1929, prior to FDR demonizing the rich, income taxes accounted for 38% of total revenue collected, and corporate income taxes accounted for 43%.  Excise taxes which burdened the poor only counted for 19% of revenues.  By 1938, the rich and the corporations had protected themselves from FDR’s demagogic tax policies (but the poor couldn’t), such that the only 24% was collected in income taxes (versus 38%) and only 29% from corporate income taxes (versus 43%).  Meanwhile the poor-punishing excise taxes (e.g. gasoline tax) soared from 19% to 47% of the total taxes collected.  Meanwhile, when income taxes were kept low, the wealthy invariably paid FAR MORE in the total tax revenue as they put their money out to invest in and expand the economy in pursuit of the profits.  And they created millions of jobs in doing so.

And guess what?  Regulations mandating higher wages are STILL killing jobs now that Obama is doing it.

And the exact same mindset is yielding the exact same results ALL OVER AGAIN.  Obama has put the fear of God (actually the fear of the Soviet-style STATE) into the wealthy and the corporations.  They keep hearing Obama demagogue them, and they keep sheltering their money.  And they will CONTINUE to keep doing that until the threat of Obama is gone.  Just like they did with FDR.

Here we are today, with “the New FDR,” Barack Obama.  Who is the top dog on Obama’s economic team?  Why lo and behold, it is none other than GE CEO Jeffrey Immelt, crony capitalist extraordinaire whose big corporation has REPEATEDLY benefitted from a cozy insider relationship with big government.  And consider how Obama literally took big auto makers GM and Chrysler away from their legitimate shareholders and gave them to big unions.

Regarding “crony capitalism,” I made a sweeping statement in a previous article:

That said, there is also a deliberate and fundamental misunderstanding of fascism by the left.  If you read leftists, you come away thinking that somehow “fascism” is the takeover of a state by corporations. But stop and think: Hitler, Himmler, Eichmann, Hess and all the other key Nazis WEREN’T corporate CEOs who took over the state; THEY WERE SOCIALIST POLITICIANS WHO TOOK OVER THE CORPORATIONS.  They usurped the corporations and FORCED them to perform THEIR agenda.  They either performed the Nazis’ will or they were simply taken away from their rightful owners and nationalized.

And to the degree that German crony capitalist corporations helped Hitler in his rise to power, THEY WERE JUST MORE USEFUL IDIOTS.

The same sort of takeover of German corporations by socialists is building in America.  Take Maxine Waters, a liberal Democrat, as the perfect example.  What did she say of the oil companies?

“This liberal will be all about socializing … uh uh … would be about … basically … taking over … and the government running all of your companies.”

THAT’S what Hitler did, too.  Hitler got this power through regulations that required corporations to do his bidding, just like Obama has now REPEATEDLY done.

And then consider how willing Maxine Waters used “crony capitalism” (which is the essence of developing fascism) to directly personally benefit even as she shaped the banking industry.

The Democrat party is the party of socialism.  It is the party of Marxism.  It is the party of fascism.

I stand by that sweeping statement.  People need to realize that “Nazi” stood for “National SOCIALIST German Workers Party,” and that both Nazi socialism and Soviet socialism were big government socialist tyrannies that failed their people.  As to our own experiment with socialism here in the USA, I point out in an article that explains how “Government Sponsored Enterprises” Fannie Mae and Freddie Mac policies led us into economic implosion in spite of warnings for YEARS prior to the 2008 economic collapse:

But rigid opposition from Democrats – especially Democrats like Senator Barack Obamawho took more campaign money from Fannie and Freddie and dirty crony capitalism outfits like corrupt Lehman Bros. than ANYONE in his short Senate stint – prevented any “hope and change” of necessary reform from saving the US economy.

The timeline is clear: Fannie Mae and Freddie Mac were giant behemoths that began to stagger under their own corrupt weight, as even the New York Times pointed out:

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

And it was FANNIE and FREDDIE that collapsed FIRST before ANY of the private investment banks, which collapsed as a result of having purchased the very mortgaged backed securities that the Government Sponsored Enterprises SOLD THEM.  It wasn’t until Fannie and Freddie collapsed that investors began to look with horror at all the junk that these GSE boondoggles had been pimping.

The man who predicted the collapse in 1999 wrote a follow-up article titled, “Blame Fannie Mae and Congress For the Credit Mess.”  It really should have read, “Blame DEMOCRATS.”  Because they were crawling all over these GSEs that they had themselves created like the cockroaches they are.  But Wallison is nonpartisan

Barack and Michelle Obama have a documented personal history of crony capitalism:

The Chicago way is a very, very ugly way.  And Obama has been in it up to his eyeballs.  Chicago is a dirty place filled with dirty politicians – and Obama was perfectly at home with all the dirt.

That Chicago corruption extends right into Obama’s home, by way of his wife Michelle.  This is a woman who sat on high-paying boards in direct quid-pro-quo consequences of Obama advancing in public office.  And in some of those boards, she participated in the worst kind of hospital patient-dumping.

Here’s a video of Michelle Obama you ought to watch – if you can stand the revelations:

Too bad we voted to nationalize the Chicago Way.

I also pointed out that when you attacked employers, the ones who would be hit the most and the hardest would be EMPLOYEES.

Take a look at what’s happening to small businesses, which create at least half of all the jobs in America, under Obama.  How about the fewest new business startups since the Bureau of Labor Statistics began tracking it:

Through the 12 months ended in March of last year, 505,473 new businesses started up in the U.S., according to the latest data available from the Bureau of Labor Statistics. That’s the weakest growth since the bureau started tracking the data in the early 1990s. It’s down sharply from the record 667,341 new businesses added in the 12 months that ended in March 2006.

And we can tie this right back to crony capitalism, as Obama has created a system in which larger businesses are protected against the threat of competition from smaller businesses:

Many times large corporations will even lobby for more regulations  for their  own industry because they know that they can handle all of the  rules and  paperwork far easier than their smaller competitors can.   After all, a  large corporation with an accounting department can easily  handle filling out a  few thousand more forms, but for a small business  with only a handful  of employees that kind of paperwork is a major  logistical nightmare.

When it comes to hiring new employees, the federal government has  made the  process so complicated and so expensive for small businesses  that it is  hardly worth it anymore.  Things have gotten so bad that more  small  businesses than ever are only hiring part-time workers or  independent  contractors.

So what we actually have now is a situation where small businesses  have lots of incentives not to hire more workers, and if they really do need some extra help the rules make it much more profitable to do  whatever you can to keep from bringing people on as full-time   employees.

And who do all these rules and regulations hurt the most but the very people Democrats cynically and deceitfully claim they are trying to help?  Meanwhile, who does it help the most but the crony capitalist corporations who DON’T do most of the hiring in America who can profit from Obama’s war on business that results in the destruction of their small business competition.

A recent report by the National Federation of Independent Business points out that small businesses are planning to SHRINK rather than EXPAND their payrolls under Obama.  From the New York Times:

A Slowdown for Small Businesses
By CATHERINE RAMPELL
Published: June 14, 2011

In the latest sign that the economic recovery may have lost whatever modest oomph it had, more small businesses say that they are planning to shrink their payrolls than say they want to expand them.

That is according to a new report released Tuesday by the National Federation of Independent Business, a trade group that regularly surveys its membership of small businesses across America.

The federation’s report for May showed the worst hiring prospects in eight months. The finding provides a glimpse into the pessimism of the nation’s small firms as they put together their budgets for the coming season, and depicts a more gloomy outlook than other recent (if equally lackluster) economic indicators because this one is forward-looking.

While big companies are buoyed by record profits, many small businesses, which employ half of the country’s private sector workers, are still struggling to break even. And if the nation’s small companies plan to further delay hiring — or, worse, return to laying off workers, as they now hint they might — there is little hope that the nation’s 14 million idle workers will find gainful employment soon.

“Never in the 37-year history of our company have we seen anything at all like this,” said Frank W. Goodnight, president of Diversified Graphics, a publishing company in Salisbury, N.C. He says there is “no chance” he will hire more workers in the months ahead.

“We’re being squeezed on all sides,” he says.

So let me ask again the question that the Los Angeles Times phrased: “Why are the wealthy benefitting from the ‘recovery’ as workers struggle?

And the answer is simple: because Barack Obama and the Democrat Party are socialist who have destroyed the engine that creates the jobs that workers depend upon to flourish.

An interesting fact is that businesses are now forced to spend $1.7 TRILLION a year in regulatory compliance costs.  That is a massive hidden tax on their viability; it exceeds the overt income taxes businesses have to pay, and it most certainly exceeds their profits.  And right now Obama is attacking them via the Dodd-Frank regulatory legislation, via the EPA, via OSHA, via ObamaCare and via the ridiculous actions of the NLRB in addition to their tax burden.  Just to name a few.  The result is businesses terrified to expand and further place their necks under Obama’s axe blade.

Meanwhile, Obama’s socialist policies have not only devastated the worker by destroying his jobs, but they’ve ruined America on numerous other levels, too.  Take the housing crisis – which was THE cause of the economic implosion of 2008.  Did Obama make it better?  Well, here’s a headline for you from CNBC: “US Housing Crisis Is Now Worse Than Great Depression.”  Which is to say that Democrats – who first created the housing crisis by refusing to allow the regulation of their pet socialist wealth redistribution agencies Fannie Mae and Freddie Mac – took something awful and turned it into an American Dream-massacring nightmare.

The latest job figures simply further document my point: Obama is destroying America job by job.  Not only did the unemployment rate go up to 9.2% (Obama promised the American people that the unemployment rate would be 7.1% by now if he got his massive government-spending stimulus); not only were the previous two month figures adjusted DOWNWARD by some 45,000 jobs; not only have a third of the unemployed been unemployed for at least a YEAR with fully half of the unemployed having been unemployed for over six months (which is unprecedented); not only did the economy create an incredibly dismal 18,000 jobs (versus the 100,000 the economists naively expected); but a quarter million more people simply walked away from the workforce entirely – abandoning any hope that Obama will do anything more than crush their hopes of finding a job.

Pissed-Off Sugar Daddy China Says Obama ALREADY Defaulting On Debt

June 10, 2011

Sugar daddy China has already learned that it is not a good investment to keep funding America’s (mostly Democrat’s, fwiw) reckless spending.  Which is to say, who we going to beg money from now???

China is pissed.

Mind you, Obama’s answer to China could be, “Yes, I’m screwing you.  But keep in mind, I’m screwing the American people even more.  It’s their money I’m making worthless, after all.”

This is a typical example of a story that comes out in the Friday dump.  The government always releases its most embarassing stuff before the weekends when no one’s paying attention.  And, of course, the mainstream media which is determined to protect their messiah reliably follows suit.

That way, they don’t have to seriously cover the damage that Obama has done to the U.S. dollar.

China ratings house says US defaulting: report
AFP – Fri, 10 Jun, 2011

A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.

“In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.

Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies — eroding the wealth of creditors including China, Guan said.

Guan did not immediately respond to AFP requests for comment.

The US government will run out of room to spend more on August 2 unless Congress bumps up the borrowing limit beyond $14.29 trillion — but Republicans are refusing to support such a move until a deficit cutting deal is reached.

Ratings agency Fitch on Wednesday joined Moody’s and Standard & Poor’s to warn the United States could lose its first-class credit rating if it fails to raise its debt ceiling to avoid defaulting on loans.

A downgrade could sharply raise US borrowing costs, worsening the country’s already dire fiscal position, and send shock waves through the financial world, which has long considered US debt a benchmark among safe-haven investments.

China is by far the top holder of US debt and has in the past raised worries that the massive US stimulus effort launched to revive the economy would lead to mushrooming debt that erodes the value of the dollar and its Treasury holdings.

Beijing cut its holdings of US Treasury securities for the fifth month in a row to $1.145 trillion in March, down $9.2 billion from February and 2.6 percent less than October’s peak of $1.175 trillion, US data showed last month.

Foreign ministry spokesman Hong Lei on Thursday urged the United States to adopt “effective measures to improve its fiscal situation”.

Dagong has made a name for itself by hitting out at its three Western rivals, saying they caused the financial crisis by failing to properly disclose risk.

The Chinese agency, which is trying to build an international profile, has given the United States and several other nations lower marks than they received from the the big three.

If you’ve got money in the bank, your money is worth substantially less than it was just a few years ago.

Obama made sure of that.

So we can point fingers at China – whom no one should like because it’s a mean, nasty communist country (albeit less communist than we are now under Obama) – and laugh.  But when we point a finger at them, three fingers are pointing back at ourselves.

Your dollar is worth dramatically less under Obama.  The number of dollars you have to shuck out to buy the same amount of gas, of food, of prettty much everything, has skyrocketed.  Your dollar is worth less.

And it’s likely going to get much, MUCH worse.  Because Obama is truly an enemy of a strong, stable America.

Stop and think about it.  Remember that massive $870 (it really cost taxpayers $3.27 TRILLION, but who is seriously counting anymore?) billion stimulus Obama shoved through Congress entirely on Democrat votes?  We are now at the point where we’re going to be paying the equivalent of an Obama stimulus PLUS every single year in interest payments – mostly to China.  We’re beyond broke; we’re a dead Dodo bird walking.  But Democrats won’t cut ANYTHING, and shrilly demonize Republicans for cutting even a tiny fraction of what is necessary if we are to prevent a massive economic implosion that will make 2008 or even the Great Depression look like heaven.

Everyone But Obama And Obama’s Fed Knows That Prices Are Rising Drastically

May 9, 2011

I’m from the government, and I’m here to mislead you.

Sticker Shock
Niall Ferguson – Mon May 2, 3:33 am ET

NEW YORK – Sticker ShockThe Fed may deny it, but Americans know that prices are rising. In this week’s Newsweek, Niall Ferguson takes a look at the Great Inflation of the 2010s.

“I can’t eat an iPad.” This could go down in history as the line that launched the great inflation of the 2010s.

Back in March, the president of the New York Federal Reserve, William Dudley, was trying to explain to the citizens of Queens, N.Y., why they had no cause to worry about inflation. Dudley, a former chief economist at Goldman Sachs, put it this way: “Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful. You have to look at the prices of all things.” Quick as a flash came a voice from the audience: “I can’t eat an iPad.”

Dudley’s boss, Ben Bernanke, was more tactful in his first-ever press conference on Wednesday of last week. But he didn’t succeed in narrowing the gap between the Fed’s view of inflation and the public’s.

I respect Bernanke. As an expert on the financial history of the 1930s, he was one of the very few people in power back in 2008 who grasped how close we were to another Great Depression. But if we’ve avoided rerunning the 1930s only to end up with a repeat of the 1970s, the public will judge him to have failed.

To ordinary Americans, however, it’s not the online price of an iPad that matters; it’s prices of food on the shelf and gasoline at the pump.

To this, the Fed has a stock response. It points to the all-urban consumer price index (CPI-U) and notes that it was up only 2.7 percent in March relative to the same month a year earlier. Strip out the costs of food and energy, and “core CPI”—the Fed’s preferred measure—is just 1.2 percent. When Google unveils its new index of online prices, it’s likely to tell a similar story.

To ordinary Americans, however, it’s not the online price of an iPad that matters; it’s prices of food on the shelf and gasoline at the pump. These, after all, are the costs they encounter most frequently. And with average gas prices hitting $3.88 a gallon last week, filling up is now twice as painful as when President Obama took office.

Sensing a threat to his hopes of reelection, the president last week called on Congress to eliminate “unwarranted” tax breaks for oil companies and set up a Justice Department task force to investigate price gouging and fraud in the oil markets. Give me a break. The spike in gas prices is the result of Fed policy, which has increased the monetary base threefold in as many years, and a geopolitical crisis in the Middle East that the president and his advisers still haven’t gotten a handle on.

And the reason the CPI is losing credibility is that, as economist John Williams tirelessly points out, it’s a bogus index. The way inflation is calculated by the Bureau of Labor Statistics has been “improved” 24 times since 1978. If the old methods were still used, the CPI would actually be 10 percent. Yes, folks, double-digit inflation is back. Pretty soon you’ll be able to figure out the real inflation rate just by moving the decimal point in the core CPI one place to the right.

It’s not only the BLS that speaks with a forked tongue. Members of the Council on Foreign Relations last week heard Treasury Secretary Tim Geithner say: “Our policy has been and will always be that a strong dollar is in the interest of the country.” Fact: the dollar has depreciated relative to other currencies by 17 percent since 2009. That European vacation is going to cost nearly a fifth more than you anticipated when you booked the flights a year ago.

I grew up in the 1970s. My first-ever publication, when I was 10, was a letter to the Glasgow Herald lamenting the soaring price of school shoes (I genuinely thought my feet were growing too fast). I wrote my Ph.D. dissertation about German hyperinflation. So perhaps I’m also hypersensitive. Maybe in June, when the Fed stops quantitative easing (its program of injecting cash by buying government bonds), inflation will recede. Maybe high fuel prices will, as Goldman Sachs predicts, slow the economy and revive the specter of deflation.

Maybe. Or maybe inflation expectations started shifting when the guy from Goldman—a Marie Antoinette for our times—seemed to say: let them eat iPads!

Niall Ferguson is a professor of history at Harvard University and a professor of business administration at Harvard Business School. He is also a senior research fellow at Jesus College, Oxford University, and a senior fellow at the Hoover Institution, Stanford University. His latest book, The Ascent of Money: A Financial History of the World, was published in November.

IPads may start looking tastier and tastier as food prices keep soaring.

Allow me to re-introduce an article which I wrote in October of last year titled “Financial Expert HOPES Inflation Will Only Be As Bad As 1970s“:

The numbers told the sad story of the Jimmy Carter presidency: interest rates of 21%; inflation at 13.5%, and an unemployment rate of 7%.  And a relatively new economic device called “the misery index” – the combination of the unemployment and inflation rates which Carter had himself used to great effect in his 1976 campaign to win election – was at a shocking 20.5%.

And those who went through those dark and difficult times may soon be looking back to that period as “the good old days.”

Welcome back, Carter.

When Ronald Reagan took office from Jimmy Carter, inflation was at a meteoric 13.3% and the country was in the throes of a fierce recession. There was a real question as to whether workers’ wages would keep up with the costs of living, which made people afraid to either spend or save. And nobody knew how to control inflation – which had risen from 1.4% in 1960 to the aforementioned 13.3% in 1980 – causing a real erosion of confidence in the future. Jimmy Carter answered a reporter’s question as to what he would do about the problem of inflation by answering, “It would be misleading for me to tell any of you that there is a solution to it.”

But Ronald Reagan had a solution.  And by the time he left office, he had solved the problem of creeping inflation increases and had actually reversed the trend: he left behind a healthy inflation rate of 4.1%.

Reagan’s policies set the trajectory for growth that would last for 20 years.

And the only thing that could truly destroy the fruit of Reagan’s policies was the coming of another Jimmy Carter.

Inflation Inevitable, Rogers Says: Could Be “Much Worse” Than the 1970s
Posted Oct 12, 2009

Given the Fed’s extremely easy policies, runaway government spending and shortages of many commodities, inflation pressures are building and destined to get much worse, according to famed investor Jim Rogers of Rogers Holdings.

“The Federal Reserve has laid the groundwork for some serious inflation down the road by printing all this money,” Rogers says. “So have many other central banks.”

Although “the U.S. government lies about inflation” in its official data, inflationary pressures are already evident in nearly everything, excluding energy, Rogers says. Inflation is “going to continue, going to accelerate,” he says. “We’re going to be paying more for just about everything down the road.”

Asked if he foresees a 1970s-style stagflation period ahead, Rogers chuckled and gave an ominous reply: “I hope it’s that good. It might be much, much worse.”

Given that view, Rogers remains very bullish on commodities as we discuss in subsequent clips.

You don’t massively increase the money supply (by running printing presses night and day) without consequences.  But that is exactly what we’ve done.  “The money supply was increased from $600 billion in 2000 to $800 billion in 2007.   This year, it has risen from $800 billion to $1.7 trillion! (Source: Federal Reserve Bank of St. Louis).”  And we aint seen nothin’ yet, as the Fed is planning a 15-fold increase in the monetary base.  Actions have consequences.  And the crazier and more irresponsible the action, the worse and more dramatic the consequences.

The National Inflation Association released a statement back in March following the passage of the massive $3.27 trillion stimulus porker:

“The United States today is in a short-term deflationary phase caused by forced liquidations, de-leveraging, going out of business sales, and other temporary factors.

It is our belief that the monetary policies of the Federal Reserve and United States Treasury will soon put an end to this deflationary phase, and we will see massive inflation in the U.S. that could ultimately lead to Zimbabwe-style Hyperinflation.

The U.S. has lost more than 2.8 million jobs since the passage of the stimulus bill and its promise of “shovel ready projects” that was supposed to prevent unemployment from going over 8%.  It failed to create jobs, but only massively increased our debt.

This country is going to go for a ride, and it won’t be a fun one.

And you tell me whether, going on two years later, you feel like that little girl or notIt might be a lot better to shut your eyes – like the “grownup” and just pretend it isn’t happening; that way you’ll believe whatever reassuring pabulum the liberal Obama government and the liberal mainstream press tell you.

US Dollar, Housing, Oil And Food Markets Point To Dodo Bird Ending For America: The Beast Is Coming

May 2, 2011

This is your dollar.

This is your dollar on Obama:

APRIL 23, 2011
Dollar’s Decline Speeds Up, With Risks for U.S.
BY TOM LAURICELLA

The U.S. dollar’s downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.

With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.

“The dollar just hasn’t had anything positive going for it,” said Alessio de Longis, who oversees the Oppenheimer Currency Opportunities Fund.

The main driver for the dollar’s decline is low interest rates in the U.S. compared with higher and rising rates abroad. Lower rates mean a lower return on cash—and the pressure from that factor could intensify next week when the Federal Reserve’s rate-setting committee is expected to signal that U.S. short-term rates will likely remain near zero for many months to come. On Wednesday, Fed Chairman Ben Bernanke is scheduled to give the central bank’s first-ever press conference following a policy-setting meeting.

But it is worry about the U.S. budget deficit that is intensifying the selloff. On Monday, investors were spooked by a warning from Standard & Poor’s that it might take away the U.S. government’s coveted AAA rating status amid concerns the Obama administration and Republicans in Congress might not be able to agree to significant reductions in the deficit.

In addition, Chinese government officials have stepped up rhetoric hinting they might diversify their $3 trillion of currency reserves away from U.S. dollars. Such a shift would chip away at what has been a substantial source of dollar-buying in recent years.

I dare say that the Wall Street Journal got it wrong this time.   While it certainly might be technically true that the immediate driver of the dollar’s decline is ” is low interest rates in the U.S. compared with higher and rising rates abroad,” that is only a symptom of the ultimate cause of the dollar’s decline.  The bigger picture can be summed up in two words: quantitative easing.  Obama’s Federal Reserve is creating money out of thin air.  And with more dollars chasing the same amount (and actually fewer) finite goods and services, the value of each dollar devalues. 

A week is a long time in Obama’s God damn America.  A fool-in-chief can do a lot of damage in a week:

APRIL 29, 2011
Dollar Skids to New Three-Year Lows
By JAVIER DAVID

NEW YORK—Investors wasted no time in sending the dollar to new three-year lows after the Federal Reserve gave them little reason to support it.

Weak U.S. growth and unemployment data quickened the dollar’s fall. Initial employment claims jumped back above the 400,000 level in the latest week. Meanwhile, gross domestic product data showed that economic growth slowed sharply in the first quarter, led by surging food and energy costs that sent a key gauge of inflation, the personal consumption expenditures (PCE) price index, soaring to its highest level in nearly three years.

Late Thursday, the euro was at $1.4821 from $1.4794 late Wednesday. The dollar traded at ¥81.54 from ¥82.04, while the euro was at ¥120.85 from ¥121.37. The U.K. pound bought $1.6640 from $1.6636. The dollar fetched 0.8733 Swiss franc from 0.8738 franc, plunging to a new record low.

The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 73.12 from 73.519, its lowest level since July 2008.

Has Obama made our economy better?  Really?  You’ve been watching and reading mainstream media propagandist lies, haven’t you?  Here’s the reality: our dollar situation is every bit as bad now as it was when the terrible economic implosion of 2008 hit us.  That giant sucking sound you hear all around you is the value and purchasing power of your dollar sinking into the abyss.

Here’s another major economic indicator going right down the toilet:

Home price gains since spring 2009 vanish
The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities in February comes close to its previous bottom reached in April 2009.
By Alejandro Lazo, Los Angeles Times
 April 26, 2011, 5:06 p.m.

The home price gains made after the housing market bottomed in spring 2009 have vanished, with 10 cities posting fresh lows in February, according to a closely watched index that tracks home prices in America’s biggest metropolitan areas.

The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities, released Tuesday, came within a hair of its previous bottom hit in April 2009. The renewed drop in home prices indicates the nation’s housing woes continue despite a recovery in the broader economy.

“There is very little, if any, good news about housing. Prices continue to weaken, while trends in sales and construction are disappointing,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s.

[…]

Foreclosures remain a significant part of the market and probably will remain so for the foreseeable future as borrowers continue to fall behind on their mortgage payments.

Patrick Newport, U.S. economist for consultancy IHS Global Insight, wrote in a note Tuesday that the decline in the index and drops in other home price measures — specifically a monthly index produced by the Federal Housing Finance Agency, which has seen steady declines in recent months — indicate that the housing slump is once again widespread.

The federal agency’s index’s “recent decline indicates that the vicious cycle in which falling prices lead to more foreclosures which lead to even lower housing prices, continues to play a role in keeping housing on the mat,” Newport wrote.

The Case-Shiller index has fallen to nearly the same level it was in April 2009, the last time it bottomed, evaporating the gains made last year after a popular tax credit for buyers fueled sales nationally. Experts predict prices will continue to fall this year, pushing past their previous lows into a much-feared double dip.

The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2.  Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres).  Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air.  The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks.  And QE2 is set to end in June.

This means QE3, and then of course QE4.  Because “QE” means “Quack Economics” far more than it should mean anything else.

The following video WAS a fictional account warning us of what could happen.  But it is about to become news before history confirms it:

And do I really have to say anything about gas prices?  Gas was $1.79 a gallon when Obama took office; it is now $3.91 and going up every single day.  That is an increase of more than 118%.  How’s that hope n’ change workin’  out for ya?

Should I mention corn?  Field corn has increased 300% (from $2 a bushel in 2009 to $6 a bushel now) under Obama’s dreadful godawful policies

Wheat prices have more than doubled.  These are basic staples used in everything. 

Food costs more than at any time since 1974.  And it’s going to get much, much worse.  Prices for food and meat are going to soar in the coming days.

Liberals say they care about the poor.  But they don’t give a damn about the poor.  All Democrats want is to “fundamentally transform” America into a socialistic system where they can maintain power forever.

The other thing to say about the above is that Gerald Celente predicted in 2008 that food riots and revolution would overtake America by 2012.  I pointed out in a recent article that what he said is exactly coming to pass both here and around the most flammable region on earth.

And all the unrest you’re seeing around you is simply the Cloward and Piven strategy for bringing about the downfall of the United States of America finally coming to pass exactly like the left wants, and exactly like people like me were talking about for the last two years.

Nobody’s really telling you about what’s happening or about what’s coming.  And that’s mostly because nobody wants to hear about it.

When Adolf Hitler seized power (he never took more than 37% of the vote, but that doesn’t stop a big government tyrant from seizing total power), he began to ruthlessly suppress dissent.  Today, the Democrat Party has pushed on attempt to impose one euphamistically-named “Fairness Doctrone” after another to shut down competing voices, even as Nancy Pelosi now demands a system in which “elections shouldn’t matter so much” in the aftermath of the one that drove her from power).

I think of one journalist named Stephen Laurent who was impriosoned for trying to tell the truth about Hitler.  He wrote:

“I am writing this from cell 24. Outside a new Germany is being created. Many millions are rejoicing. Hitler is promising everyone precisely what they want. I think when they wake to their sobering senses, they will find they have been led by the nose and duped by lies.”

And that is where America is heading.  Only there will be no America to rebuild America the way the United States of America rebuilt Germany in the aftermath of Germany reaping its whirlwind after sowing the wind.  Obama himself will have seen to that.

The funniest thing about this – if anything about America turning into a socialist banana republic is “funny” – is that it will be the left who so rabidly despise the Word of God (otherwise known as the Holy Bible) who will bring about it’s ultimate fulfillment.

The beast is coming.  He will be a one-world global leader who will take over in the catastrophic aftermath of false messiahs like Barack Hussein Obama.  He will be the personification of the United Nations and globalism and a world without borders and all the other total idiocy the left has been jabbering about for decades.  He will represent the sum total of everything the liberals have ever yearned for.

The secular humanist left has said that if they could just take over, they would create a humanist Utopia.  God is going to give them their chance in the Tribulation with the big government Utopia of the Antichrist.

And in just seven years he will have brought a literal hell on earth.

It will be the left – it will be the people who most hate and despise and mock the Bible – that brings about all of the end times prophecies of the very Bible they so ridicule.

Barack Obama is an example of the sneering tone of the left toward the Word of God:

Which passages of Scripture should guide our public policy? Should we go with Leviticus, which suggests slavery is ok and that eating shellfish is abomination? How about Deuteronomy, which suggests stoning your child if he strays from the faith? Or should we just stick to the Sermon on the Mount – a passage that is so radical that it’s doubtful that our own Defense Department would survive its application? So before we get carried away, let’s read our Bibles. Folks haven’t been reading their Bibles.

But I have been reading my Bible, President Obama.  And I’m seeing more and more reasons to believe it and accept it as God’s Word about a time which is now at hand.

I see the dollar devaluing to nothing; I see the cost of food skyrocketing.  And I consider the words of the book of Revelation:

He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name” (Revelation 13:16-17)

.