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"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
--Roman philosopher and statesman Marcus Tullius Cicero (106-43 BC)
The Debt Just Hit $16,000,000,000,000
09/04/2012 at 5:00PM
Coincidentally, the DNC Convention just kicked off at this time, too
A Jobs Report Conspiracy Just In Time For The CORONATION Of Our Emperor And Chief Empty Chair
Well, isn't that convenient? The Obama campaign desperately needed the last employment report to be released before the election to show that the unemployment rate had fallen below 8 percent, and somehow it magically happened. Even though non-farm payroll employment only increased by 114,000 last month (not enough to even keep up with population growth), the official unemployment rate fell from 8.1 percent to 7.8 percent. So how did that happen? Well, the unemployment number is not based on the survey of employers that showed that 114,000 jobs were added to the economy last month. Rather it is based on a survey of households. And that survey showed that the total number of Americans employed last month increased by a whopping 873,000 - almost eight times the number that the employer survey showed. That figure for September (873,000) was the biggest one month increase in 29 years. And it just happened to come at the exact perfect time for Barack Obama. So was there a jobs report conspiracy? Examine the evidence and decide for yourself.
The number of Americans with a job fell by 195,000 in July.
Then it fell by another 119,000 in August.
But somehow in September it miraculously exploded in the other direction and 873,000 jobs were added to the economy?
If you believe that, I have a bridge that I want to sell you.
Somehow, the largest increase in jobs in 29 years happened just when Barack Obama needed it the most.
Nah, that doesn't sound fishy to me at all.
We are being told that a big reason for the huge increase was the number of Americans working part-time for "economic reasons". That number surged from 8.0 million in August to 8.6 million in September.
Why the sudden jump?
Nobody can really explain it.
And if you look at the U6 unemployment rate, nothing has really changed at all. U6 is still at 14.7 percent just like it was last month.
But the media is not going to talk about the U6 rate. Instead, all of the headlines are going to be about "7.8 percent".
According to the survey of employers, the U.S. economy added fewer jobs in September than it did in August, and it added fewer jobs in August than it did in July.
So according to the survey of employers, the employment situation in the United States is getting worse.
But according to the household survey, we just had the greatest month of job creation since the first term of Ronald Reagan.
Something does not add up.
And as I have written about previously, the unemployment rate would actually be up around 11 percent instead of 7.8 percent if not for the millions of workers that the government claims "dropped out of the labor force" over the past few years because they became too discouraged to look for work.
So unemployment in America is still a massive crisis, but the media is boldly proclaiming that things are getting better and that we are on the road to recovery.
Of course Obama looks like the cat who ate the canary today. He is just thrilled with the "7.8 percent" number.
But the truth is that according to the employer survey, job growth in the United States is actually slower than last year. The following is from the Calculated Risk blog....
All that said, the economy has only added 1.3 million payroll jobs over the first nine months of the year. At this pace, the economy would only add around 1.8 million private sector jobs in 2012; less than the 2.1 million added in 2011.
Are you starting to see why people are so skeptical of this jobs report?
When the "7.8 percent" figure was released, there was immediately a wave of shock and unbelief throughout the financial world and all over the Internet.
The following is a sampling of skeptical quotes about this jobs report....
Former GE chief Jack Welch
Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers
Chapwood Capital Investment Management Managing Partner Ed Butowsky
I feel like I’m watching a movie. There is no way in the world these numbers are accurate.
Neil Irwin of the Washington Post
"Weird that payrolls are exactly on forecast but household survey is far better."
Conn Carroll, senior editorial writer for the Washington Examiner
While it is highly improbable that BLS conspired to cook the books, there is still a huge 756,000 job gap between the number of jobs employers told the Labor Department they created in September (114k), and the number of Americans who told the labor department that they got new jobs (873k).
U.S. Representative Allen West
I agree with former GE CEO Jack Welch, Chicago style politics is at work here. Somehow by manipulation of data we are all of a sudden below 8 percent unemployment, a month from the Presidential election. This is Orwellian to say the least and representative of Saul Alinsky tactics from the book "Rules for Radicals"- a must read for all who want to know how the left strategize . Trust the Obama administration? Sure, and the spontaneous reaction to a video caused the death of our Ambassador......and pigs fly.
Gluskin Sheff's David Rosenberg
That the 7.8 percent jobless rate takes it to the level that prevailed when the President took office in January 2009 has raised many an eyebrow. I don't believe in conspiracy theories. But I don't believe in the Household Survey either.
This notoriously volatile indicator has become even more so in recent months. It showed a 195K slide in July and a 119K decline in August, to only then reveal a massive 873K surge in September.
Radio host Laura Ingraham
"Jobs #s from Labor Secretary Hilda Solis are total pro-Obama propaganda--labor force participation rate at 30-yr low. Abysmal!"
Americans for Limited Government
"Either the Federal Reserve, which has its fingers on the pulse of every element of the economy, and the Bureau of Labor Statistics manufacturing survey report are grievously wrong or the number used to calculate the unemployment rate are wrong, or worse manipulated. Given that these numbers conveniently meet Obama's campaign promises one month before the election, the conclusions are obvious."
Rick Santelli of CNBC
"I told you they'd get it under 8 percent — they did! You can let America decide how they got there!"
Of course the backlash in the media against skepticism of the jobs report has been very forceful.
Already, those that are doubtful of the legitimacy of the jobs report are being called "truthers" - as if there is something wrong with wanting to know the truth.
Sadly, that is how things work these days. If you don't like the viewpoint that some people are expressing, you just label them "conspiracy theorists".
And when someone is labeled a "conspiracy theorist", that is code for "that person is so crazy that you should not listen to anything they say".
But the truth is that we live in a world where often people do things that they are not supposed to be doing.
When something rather strange happens, it is not wrong to investigate and try to figure out what is going on.
And this jobs report seems very, very odd.
It sure does seem rather strange that the household survey is showing almost 8 times as many jobs created as the employer survey does.
It sure does seem rather strange that 873,000 more Americans were working in September (the largest increase in 29 years) after decreases in both July and August.
It sure does seem rather strange that the unemployment rate dropped under 8 percent at the exact moment when Barack Obama needed it the most.
But perhaps all of this is just a coincidence.
What do you think?
The number of Americans with a job fell by 195,000 in July.
Then it fell by another 119,000 in August.
But somehow in September it miraculously exploded in the other direction and 873,000 jobs were added to the economy?
If you believe that, I have a bridge that I want to sell you.
Somehow, the largest increase in jobs in 29 years happened just when Barack Obama needed it the most.
Nah, that doesn't sound fishy to me at all.
We are being told that a big reason for the huge increase was the number of Americans working part-time for "economic reasons". That number surged from 8.0 million in August to 8.6 million in September.
Why the sudden jump?
Nobody can really explain it.
And if you look at the U6 unemployment rate, nothing has really changed at all. U6 is still at 14.7 percent just like it was last month.
But the media is not going to talk about the U6 rate. Instead, all of the headlines are going to be about "7.8 percent".
According to the survey of employers, the U.S. economy added fewer jobs in September than it did in August, and it added fewer jobs in August than it did in July.
So according to the survey of employers, the employment situation in the United States is getting worse.
But according to the household survey, we just had the greatest month of job creation since the first term of Ronald Reagan.
Something does not add up.
And as I have written about previously, the unemployment rate would actually be up around 11 percent instead of 7.8 percent if not for the millions of workers that the government claims "dropped out of the labor force" over the past few years because they became too discouraged to look for work.
So unemployment in America is still a massive crisis, but the media is boldly proclaiming that things are getting better and that we are on the road to recovery.
Of course Obama looks like the cat who ate the canary today. He is just thrilled with the "7.8 percent" number.
But the truth is that according to the employer survey, job growth in the United States is actually slower than last year. The following is from the Calculated Risk blog....
All that said, the economy has only added 1.3 million payroll jobs over the first nine months of the year. At this pace, the economy would only add around 1.8 million private sector jobs in 2012; less than the 2.1 million added in 2011.
Are you starting to see why people are so skeptical of this jobs report?
When the "7.8 percent" figure was released, there was immediately a wave of shock and unbelief throughout the financial world and all over the Internet.
The following is a sampling of skeptical quotes about this jobs report....
Former GE chief Jack Welch
Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers
Chapwood Capital Investment Management Managing Partner Ed Butowsky
I feel like I’m watching a movie. There is no way in the world these numbers are accurate.
Neil Irwin of the Washington Post
"Weird that payrolls are exactly on forecast but household survey is far better."
Conn Carroll, senior editorial writer for the Washington Examiner
While it is highly improbable that BLS conspired to cook the books, there is still a huge 756,000 job gap between the number of jobs employers told the Labor Department they created in September (114k), and the number of Americans who told the labor department that they got new jobs (873k).
U.S. Representative Allen West
I agree with former GE CEO Jack Welch, Chicago style politics is at work here. Somehow by manipulation of data we are all of a sudden below 8 percent unemployment, a month from the Presidential election. This is Orwellian to say the least and representative of Saul Alinsky tactics from the book "Rules for Radicals"- a must read for all who want to know how the left strategize . Trust the Obama administration? Sure, and the spontaneous reaction to a video caused the death of our Ambassador......and pigs fly.
Gluskin Sheff's David Rosenberg
That the 7.8 percent jobless rate takes it to the level that prevailed when the President took office in January 2009 has raised many an eyebrow. I don't believe in conspiracy theories. But I don't believe in the Household Survey either.
This notoriously volatile indicator has become even more so in recent months. It showed a 195K slide in July and a 119K decline in August, to only then reveal a massive 873K surge in September.
Radio host Laura Ingraham
"Jobs #s from Labor Secretary Hilda Solis are total pro-Obama propaganda--labor force participation rate at 30-yr low. Abysmal!"
Americans for Limited Government
"Either the Federal Reserve, which has its fingers on the pulse of every element of the economy, and the Bureau of Labor Statistics manufacturing survey report are grievously wrong or the number used to calculate the unemployment rate are wrong, or worse manipulated. Given that these numbers conveniently meet Obama's campaign promises one month before the election, the conclusions are obvious."
Rick Santelli of CNBC
"I told you they'd get it under 8 percent — they did! You can let America decide how they got there!"
Of course the backlash in the media against skepticism of the jobs report has been very forceful.
Already, those that are doubtful of the legitimacy of the jobs report are being called "truthers" - as if there is something wrong with wanting to know the truth.
Sadly, that is how things work these days. If you don't like the viewpoint that some people are expressing, you just label them "conspiracy theorists".
And when someone is labeled a "conspiracy theorist", that is code for "that person is so crazy that you should not listen to anything they say".
But the truth is that we live in a world where often people do things that they are not supposed to be doing.
When something rather strange happens, it is not wrong to investigate and try to figure out what is going on.
And this jobs report seems very, very odd.
It sure does seem rather strange that the household survey is showing almost 8 times as many jobs created as the employer survey does.
It sure does seem rather strange that 873,000 more Americans were working in September (the largest increase in 29 years) after decreases in both July and August.
It sure does seem rather strange that the unemployment rate dropped under 8 percent at the exact moment when Barack Obama needed it the most.
But perhaps all of this is just a coincidence.
What do you think?
More Americans Added to Food Stamps Than Find Jobs
Yep...OBAMA & LIBTARDS BUILT THIS
An alarming data point from the minority side of the Senate Budget Committee: More Americans are being added to food stamps than are finding jobs. The data is detailed in this chart, provided by the committee:
As the chart shows, between April-June 2012 (the most recent three month block for which government data is available), only 200,000 jobs have been created while 265,000 individuals have been added to the food stamp rolls. Additionally, in that time period, 246,000 workers were awarded disability.
Another chart shows that the last three month block is part of a larger trend. The chart, also from the minority side of the Senate Budget Committee, shows that "Workforce Shrinks Since January 2009 While Millions Sign Up For Disability And Food Stamps."
As the chart shows, since January 2009, when President Barack Obama took office, the net change jobs has been negative (-1.3 million), while 5.7 million workers and dependents have been awarded disability and a whopping 15.1 million have been added to the food stamp rolls.
"A total of 46,670,373 Americans are now on food stamps," according to the minority side of the Senate Budget Committee. "The food stamp program has doubled in size since 2008 and quadrupled since 2001."
And the government program isn't cheap: "Spending on food stamps alone is projected to reach $770 billion over the next decade."
AND 46% OF THE PEOPLE IN THIS COUNTRY ARE PROUD OF THIS....WTF
As the chart shows, between April-June 2012 (the most recent three month block for which government data is available), only 200,000 jobs have been created while 265,000 individuals have been added to the food stamp rolls. Additionally, in that time period, 246,000 workers were awarded disability.
Another chart shows that the last three month block is part of a larger trend. The chart, also from the minority side of the Senate Budget Committee, shows that "Workforce Shrinks Since January 2009 While Millions Sign Up For Disability And Food Stamps."
As the chart shows, since January 2009, when President Barack Obama took office, the net change jobs has been negative (-1.3 million), while 5.7 million workers and dependents have been awarded disability and a whopping 15.1 million have been added to the food stamp rolls.
"A total of 46,670,373 Americans are now on food stamps," according to the minority side of the Senate Budget Committee. "The food stamp program has doubled in size since 2008 and quadrupled since 2001."
And the government program isn't cheap: "Spending on food stamps alone is projected to reach $770 billion over the next decade."
AND 46% OF THE PEOPLE IN THIS COUNTRY ARE PROUD OF THIS....WTF
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The TRUTH About The Great Depression & How Government Created It
MUST WATCH, For This Is Exactly What Is Happenning TODAY
Also Read The Document Below The Video
MUST WATCH, For This Is Exactly What Is Happenning TODAY
Also Read The Document Below The Video
195,000 Fewer Americans Had Jobs in July; 150,000 Dropped Out of Labor Force(CNSNews.com) - There were 195,000 fewer people employed in the United States in July than in June, according to the Bureau of Labor Statistics, as the national unemployment rate ticked up from 8.2 percent to 8.3 percent.
Meanwhile, 150,000 people simply dropped out of the labor force during the month and did not seek to find a job. More Here: Full-Time Jobs -197,000; Part-Time Jobs +31,000
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Abbott & Costello Explain Unemployment
COSTELLO: I want to talk about the unemployment rate in America .
ABBOTT: Good Subject. Terrible Times. It’s 9%. COSTELLO: That many people are out of work? ABBOTT: No, that’s 16%. COSTELLO: You just said 9%. ABBOTT: 9% Unemployed. COSTELLO: Right 9% out of work. ABBOTT: No, that’s 16%. COSTELLO: Okay, so it’s 16% unemployed. ABBOTT: No, that’s 9%… COSTELLO: WAIT A MINUTE. Is it 9% or 16%? ABBOTT: 9% are unemployed. 16% are out of work. COSTELLO: IF you are out of work you are unemployed. ABBOTT: No, you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed. COSTELLO: BUT THEY ARE OUT OF WORK!!! ABBOTT: No, you miss my point. COSTELLO: What point? ABBOTT: Someone who doesn’t look for work, can’t be counted with those who look for work. It wouldn’t be fair. COSTELLO: To whom? ABBOTT: The unemployed. COSTELLO: But they are ALL out of work. ABBOTT: No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed. COSTELLO: So if you’re off the unemployment roles, that would count as less unemployment? ABBOTT: Unemployment would go down. Absolutely! COSTELLO: The unemployment just goes down because you don ‘t look for work? ABBOTT: Absolutely it goes down. That’s how you get to 9%. Otherwise it would be 16%. You don ‘t want to read about 16% unemployment, do ya? COSTELLO: That would be frightening.. ABBOTT: Absolutely. COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number? ABBOTT: Two ways is correct. COSTELLO: Unemployment can go down if someone gets a job? ABBOTT: Correct. COSTELLO: And unemployment can also go down if you stop looking for a job? ABBOTT: Bingo. COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work. ABBOTT: Now you’re thinking like an economist. COSTELLO: I don ‘t even know what the hell I just said! ABBOTT: Now you’re thinking like a politician. |
Another Record!… Foreign Debt Up 72.3% Under Obama
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On This Day In 2016
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The Perfect Storm
By Peter Schiff
“The perfect storm is the real fiscal cliff that we’re going to go over. The real fiscal cliff is when we can’t borrow any more money because our creditors wake up to the fact that we’re no good for the debt .....and interest rates start to rise.
They (interest rates) rise sharply and then we have to choose between default and collapse, or runaway inflation. That’s really the perfect storm and unfortunately we are sailing right in to it.”
They (interest rates) rise sharply and then we have to choose between default and collapse, or runaway inflation. That’s really the perfect storm and unfortunately we are sailing right in to it.”
Yet More Proof Of Barack Obama’s Total Lack Of Leadership Over American Economy
This past week Americans learned Worthless GOB OF SHIT President Barack Obama has not met with his own jobscouncil in over a year. Now we also learn it has been over a year since he has said even one word to Congressional budget leaders. He has time to fly to well over 100 and counting personal fundraising events and play repeated rounds of golf - but no time to actually make any effort whatsoever to do the job of President.
Rep. Paul Ryan, the House Budget Committee chairman and the GOP point man on budgetary and other economic issues, said today that he has not spoken to President Obama in more than a year. …The absence of even a conversation with Ryan – no less a meeting – calls into the question ...calls into question what.... that he's a brain dead FUCKTARD....whether Obama is the least bit serious about trying to find agreement on extending the Bush tax cuts, an issue on which he has been pounding Republicans as allies of the rich. It suggests he is much more content to let this and other fiscal problems simmer so he can use them as a means of attacking Republicans. During the past year, Ingraham noted, Obama has seen fit to meet with Paul McCartney and Mick Jagger, but not Ryan. She could have added to the list a host of other celebrities and athletes, including Sarah Jessica Parker, Jessica Alba, Barbara Streisand, Charles Barkley, Chris Rock, Jay-Z and Tom Hanks and George Clooney, which whom he’s had multiple sessions. LINK The Cost Of Government Regulation: $1.75 Trillion
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17 Reasons Why Those Hoping For A Recession In 2012 Just Got Their Wish
If you were hoping for a recession in 2012, then you are going to be very happy with the numbers you are about to see. The U.S. economy is heading downhill just in time for the 2012 election. Retail sales have fallen for three months in a row for the first time since 2008, manufacturing activity is dropping like a rock, sales of new homes are declining again, consumer confidence has moved significantly lower and a depressingly small percentage of businesses anticipate hiring more workers in the coming months. Even though the Federal Reserve has been wildly pumping money into the financial system and even though the federal government has been injecting gigantic piles of borrowed cash into the economy, we still haven't seen an economic recovery. In fact, we appear to be on the verge of yet another major downturn. In California the other night, Barack Obama told supporters that "we tried our plan — and it worked", but only those that are still drinking the Obama kool-aid would believe something so preposterous. The truth is that the U.S. economy has been steadily declining for many years and now we have reached another very painful recession.
And don't let the second quarter GDP number on Friday fool you. Analysts are expecting to see GDP growth of about 1.4 percent for the second quarter, but the only reason for our very small amount of "economic growth" is because the economy has been flooded with new dollars. Let me give you an example. If I could go out overnight and magically double the bank accounts of every single American, would we all be twice as wealthy? No, because there would be twice as many dollars now chasing the same amount of goods and services. The price of those goods and services would soon rise dramatically to reflect this new reality. With all of those new dollars spinning around in the economy it would look like "economic growth" was going through the roof, but in reality the amount of real economic activity would be about the same. So whenever we talk about GDP, we need to adjust it for inflation. And as I noted the other day, after adjusting for inflation the U.S. economy has been continually experiencing negative economic growth since about 2005. So let's not deceive ourselves. The U.S. economy has been declining for a long time. But soon even non-inflation adjusted GDP will turn negative. We will probably see a slightly positive number for the second quarter, and the number will likely go negative either in the third quarter or the fourth quarter. Economists will debate when this new recession officially "began" just like they do with every recession, but it doesn't take a genius to figure out what is happening to our economy right now. The following are 17 reasons why those hoping for a recession in 2012 just got their wish.... 1. U.S. retail sales have declined for three months in a row. This is the first time this has happened since 2008. Every other time this has happened in U.S. history (except for once) this has signaled that the U.S. economy was either already in a recession or was about to enter one. 2. The Philadelphia Fed index of manufacturing activity contracted for the third month in a row during July. According to the Financial Post, this is a very bad sign.... Seven out of eight times when the average reading has been that low (-11.8) for that long the U.S. economy has tipped into recession. 3. Manufacturing activity in the mid-Atlantic region has also declined for three months in a row. In fact, the only time in the past decade when manufacturing activity in the mid-Atlantic has fallen more dramatically was during the last recession. 4. A factory index calculated by the Institute for Supply Management has fallen to its lowest level since June 2009. 5. The Conference Board index of leading economic indicators has fallen for two of the past three months. 6. According to a recent survey conducted by the Conference Board, only 17 percent of CEOs had a positive view of the economy during the second quarter of 2012. During the first quarter of 2012, 67 percent did. 7. Gallup's U.S. Economic Confidence Index is now the lowest that it has been since January. 8. Optimism among small business owners has declined in three of the last four months and is now at its lowest levelsince last October. 9. Believe it or not, the amount of waste being carted around on trains in the United States has an 82 percentcorrelation with U.S. economic growth. Unfortunately, right now the number of garbage carloads on trains is falling dramatically. 10. Sales of previously occupied homes dropped by 5.4 percent during June. 11. Sales of new homes declined by 8.4 percent during June. At this point new home sales are less than a third of what they were during the boom years. 12. An increasing number of Americans are relying on high interest "payday loans" to pay the rent and put food on the table. 13. Far more companies are defaulting on their debts this year than last year. 14. According to the U.S. Labor Department, the unemployment rate fell in 11 states and Washington, D.C. last month, but it rose in 27 states. 15. The unemployment rate in New York City is now back up to 10 percent. That equals the peak unemployment rate in New York City during the last recession. 16. The teen unemployment rate in Washington D.C. right now is 51.7 percent. 17. A recent survey conducted by the National Association for Business Economics found that only 23 percent of all U.S. companies plan to hire more workers over the next 6 months. When the same question was asked a few months ago that number was at 39 percent. All of those are very powerful pieces of evidence that a new recession has started. But do you want to know one of my favorite indicators that the U.S. economy is sliding into recession? In a previous article, I noted that Federal Reserve Chairman Ben Bernanke made the following statement to Congress recently: "At this point we don't see a double dip recession. We see continued moderate growth." As I mentioned the other day, Bernanke has a track record of failure that is absolutely embarrassing. Back onJanuary 10, 2008 Bernanke made the following statement.... "The Federal Reserve is not currently forecasting a recession." That turned out to be a great call, didn't it? On June 10, 2008 he doubled down on his call that the U.S. economy was going to avoid a recession.... "The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so." Just before Fannie Mae and Freddie Mac collapsed Bernanke made this statement.... "The GSEs are adequately capitalized. They are in no danger of failing." And there are dozens of other examples just like these. This is the guy running our economic system. I am very critical of the Federal Reserve, but there are very good reasons for this. The Federal Reserve is running our economy into the ground, and we need to pound this into the heads of the American people so that they will wake up and demand change. Perhaps this next recession will be painful enough to wake people up. The Wall Street Journal is already even using the "D word" to describe what we are experiencing. Just today, the Wall Street Journal ran an article that asked this question: "Do Two Recessions Equal One Depression?" Sadly, this is just the leading edge of what is coming. By the time 2014 or 2015 rolls around, we are going to look back and long for the "good old days" of 2011 and 2012. Over the next few years, the unemployment rate is going to skyrocket and poverty in the United States is going to get a whole lot worse. Now is not the time to goof off. Now is the time to work really hard to get yourself and your family into the best position that you can for the storm that is coming. Nothing is going to stop the terrible economic crisis that is coming, but at least we can get prepared for it. There is hope in being prepared. Sadly, most people will never even see the next crisis coming until they get blindsided by it. |
You're SCREWED...But You Don't Know It YET
IMPORTANT LAW ENFORCEMENT BULLETIN: BERNANKE CRIME FAMILY UPDATE
Click the image to enlarge
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Epic Santelli Rant On 'Un-American' Federal Reserve/Treasury Incompetence |
Market Savior? Stocks Might Be 50% Lower Without Fed
Published: Thursday, 12 Jul 2012 | 3:15 PM ET - CNBC
By: John Melloy Executive Producer, Fast Money & Halftime A report from the Federal Reserve Bank of New York suggests that the bulk of equity returns for more than a decade are due to actions by the US central bank.
Theoretically, the S&P 500 [.SPX 1353.65 18.89 (+1.42%) ] would be more than 50 percent lower—at the 600 level—if the bullish price action preceding Fed announcements was excluded, the study showed.
Posted on the New York Fed’s web siteWednesday, the study sought out to explain why equities receive such a high premium over less risky assets such as bonds. What they found was that the Federal Reserve has had an outsized impact on equities relative to other asset classes. For example, the market has a tendency to rise in the 24-hour period before the release of the Fed’s statement on interest rates and the economy, presumably on expectations Chairman Ben Bernanke and his predecessor, Alan Greenspan, would discuss or implement a stimulus measure to lift asset prices. The FOMC has released eight announcements a year at 2:15 ET since 1994. The study took the gains in the S&P 500 from 2 pm the day before the announcement to 2 pm the day of the statement and subtracted that market move from the S&P 500’s total return over that time span. Without the gains in anticipation of a positive Fed action, the S&P 500 would stand at just 600 today, rather than above 1300. 
“I would conclude that correctly analyzing Fed moves is much more important than stock picking,” said Brian Kelly of Shelter Harbor Capital. “If you want to generate alpha, you should trade the stock market 24 hours before an FOMC meeting. Simply follow the trend for that 24 hours and you will outperform.”
The chart shows the effect to be significantly pronounced in the aftermath of the tech bubble when Greenspan re-inflated stock and housing prices by slashing rates. It widens even further in the period since the financial crisis of 2008 as the market became beholden to the Fed’s use of its balance sheet to add liquidity to the market. “Blame Greenspan for this S&P 500 effect… it’s his free put,” said Robert Savage, chief executive of research site Track.com and formerly managing director of FX Macro Sales at Goldman Sachs. “Since 1994, the battle of central banks hasn't been to fight inflation, but rather to smooth out the business cycle and credit. The convergence of global rates and inflation left the decisions of the FOMC as the key variable for S&P 500.” The market is down six days in a row currently on the concern that the Federal Reserve will not embark on its third round of so-called quantitative easing anytime soon.Minutes from the central bank’s last meeting, released Wednesday, reinforced the concern that the economy is muddling along enough to keep the Fed on the sidelines. Read The Article HERE |
27 Things That Every American Should Know About The National Debt
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17 Reasons To Be EXTREMELY Concerned About The Second Half Of 2012 Read on The Economic Collapse Blog
What is the second half of 2012 going to bring? Are things going to get even worse than they are right now? Unfortunately, that appears more likely with each passing day. I will admit that I am extremely concerned about the second half of 2012. Historically, a financial crisis is much more likely to begin in the fall than during any other season of the year. Just think about it. The stock market crash of 1929 happened in the fall. "Black Monday" happened on October 19th, 1987. The financial crisis of 2008 started in the fall. There just seems to be something about the fall that brings out the worst in the financial markets. But of course there is not a stock market crash every year. So are there specific reasons why we should be extremely concerned about what is coming this year? Yes, there are. The ingredients for a "perfect storm" are slowly coming together, and in the months ahead we could very well see the next wave of the economic collapse strike. Sadly, we have never even come close to recovering from the last recession, and this next crisis might end up being even more painful than the last one.
#1 Historical Trends A recent IMF research paper by Luc Laeven and Fabián Valencia showed that a banking crisis is far more likely to start in September than in any other month. The following chart is from their report.... #2 JP Morgan Do you remember back in May when JP Morgan announced that it would be taking a 2 billion dollar trading loss on some derivatives trades gone bad? Well, the New York Times is now reporting that the real figure could reach 9 billion dollars, but nobody really knows for sure. At some point is JP Morgan going to need a bailout? If so, what is that going to do to the U.S. financial system? #3 Derivatives Last week, Moody's downgraded the credit ratings of 15 major global banks. As a result, a number of them have been required to post billions of dollars in additional collateral against derivatives exposures.... Citigroup’s two-notch long-term rating downgrade from A3 to Baa2 could have led to US$500m in additional liquidity and funding demands due to derivative triggers and exchange margin requirements, according to the bank’s 10Q regulatory filing at the end of the first quarter. Morgan Stanley – which Moody’s downgraded from A2 to Baa1 – said a two-notch downgrade from both Moody’s and Standard and Poor’s could spur an additional US$6.8bn of collateral requirements in its latest 10Q. The bank did not break down its potential collateral calls under a scenario where only Moody’s downgraded the bank below the Single A threshold. Royal Bank of Scotland estimated it may have to post £9bn of collateral as a result of the one-notch Moody’s downgrade to Baa1 in a statement on June 21, but did not detail how much of this additional requirement was driven by margin for swaps exposures. The worldwide derivatives market is starting to show some cracks, and at some point this is going to become a major disaster. Remember, the 9 largest U.S. banks have a total of more than 200 trillion dollars of exposure to derivatives. When this bubble completely bursts it is going to be impossible to fix. Read More Here |
These 12 Hellholes Are Examples Of What The Rest Of America Will Look Like Soon
Do you want to see where this country is headed? If so, don't focus on the few areas that are still very prosperous. New York City has Wall Street, Washington D.C. has the federal government and Silicon Valley has Google and Facebook. Those are the exceptions. The reality is that most of the country has been experiencing a slow decline for a very long time and once thriving cities such as Gary, Indiana and Flint, Michigan have become absolute hellholes. They are examples of what the rest of America will look like soon. 60 years ago, most Americans were decent, hard working people and there were always good jobs available for anyone that was willing to roll up his or her sleeves and put in an honest day of work. But now all of that has changed. Over the past decade, tens of thousands of manufacturing facilities have shut down and millions of jobs have left the country. Cities such as Cleveland, Baltimore and Detroit were once shining examples of everything that was right about America, but now they stand out like festering sores. The "blue collar cities" have been hit the hardest by the gutting of our economic infrastructure. There are many communities in America today where it seems like all of the hope and all of the life have been sucked right out of them. You can see it in the eyes of the people. The good times are gone permanently and they know it. Unfortunately, the remainder of the country will soon be experiencing the despair that those communities are feeling.(Read More....)
So..the way I see it if a Bank, or Fund, or whatever you want to call wants your money....
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Just so we understand each other
JP MORGAN & JAMIE DIMON are Scumsuckingbottomfeedinasshead WHORES
Let's just tax everyone so the DingleFucks in Congress can spend on stupid shit. This video shows how FUCKED these clowns are...especially when it comes to taxes.
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Dear Jobseeker: Here's Why I Can't Hire You
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More People Went On Disability Than Got Jobs In June
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Graph of the day: Monitoring the so-called “recovery”
Lately, we’ve heard a lot about “the recovery” and lot of arguing over who’s to blame for its supposed slowdown. But before we got too bogged down in who’s responsible for retardingeconomic growth, maybe we should first look at the data.
Without one word of explanation, Harvard University econ professor Greg Mankiw posted the following graph to his blog: As you can see, the shaded area indicates the recession and everything to the right of that is the so-called “recovery.” Huh. So, was this what the White House meant when it said we’re moving in the right direction or should we just not read too much into the data? 
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Yep, These Liberal SHITARDS sure Know How to Create Jobs
A new report out Tuesday from the U.S. Census Bureau reveals that American businesses and workers took a beating in 2010. A few of the lowlights:
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California on Brink of Financial Armageddon
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Five Banks Account For 96% Of The $250 Trillion In Outstanding US Derivative Exposure; Is Morgan Stanley Sitting On An FX Derivative Time Bomb?
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Derivatives: The $600 Trillion Time Bomb That's Set to Explode
Guess What AssHat's?
We're On The Hook For This
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My favorite site about what is really happening in the economy
Click The Image And Learn Something AssHeads
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The U.S. Economy By The Numbers: 70 Facts That Barack Obama Does Not Want You To See
 If You Voted For These Fucking Idiots, You Should Move The Fuck To Greece
Here You Go....What A Complete FuckTard This Guy Is
$3.59 - When Barack Obama entered the White House, the average price of a gallon of gasoline was $1.85. Today, it is$3.59. 22 - It is hard to believe, but today the poverty rate for children living in the United States is a whopping 22 percent. 23 - According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities permanently shut down in the United States every single day during 2010. 30 - Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer. Today, that number is above 30 percent. 32 - The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House. 35 - U.S. housing prices are now down a total of 35 percent from the peak of the housing bubble. 40 - The official U.S. unemployment rate has been above 8 percent for 40 months in a row. 42 - According to one survey, 42 percent of all American workers are currently living paycheck to paycheck. 48 - Shockingly, at this point 48 percent of all Americans are either considered to be "low income" or are living in poverty. |
The Mother Of All Infographics: Visualizing America's Derivatives Universe
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49 - Today, an astounding 49.1 percent of all Americans live in a home where at least one person receives benefits from the government.
53 - Last year, an astounding 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed.
60 - According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably.
61 - At this point the Federal Reserve is essentially monetizing much of the U.S. national debt. For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.
63 - One recent survey found that 63 percent of all Americans believe that the U.S. economic model is broken.
71 - Today, 71 percent of all small business owners believe that the U.S. economy is still in a recession.
80 - Americans buy 80 percent of the pain pills sold on the entire globe each year.
81 - Credit card debt among Americans in the 25 to 34 year old age bracket has risen by 81 percent since 1989.
85 - 85 percent of all artificial Christmas trees are made in China.
86 - According to one survey, 86 percent of Americans workers in their sixties say that they will continue working past their 65th birthday.
90 - In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
93 - The United States now ranks 93rd in the world in income inequality.
95 - The middle class continues to shrink - 95 percent of the jobs lost during the last recession were middle class jobs.
107 - Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes.
350 - The average CEO now makes approximately 350 times as much as the average American worker makes.
400 - According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americanscombined.
$500 - In some areas of Detroit, Michigan you can buy a three bedroom home for just $500.
627 - In 2010, China produced 627 million metric tons of steel. The United States only produced 80 million metric tons of steel.
877 - 20,000 workers recently applied for just 877 jobs at a Hyundai plant in Montgomery, Alabama.
900 - Auto parts exports from China to the United States have increased by more than 900 percent since the year 2000.
$1580 - When Barack Obama first took office, an ounce of gold was going for about $850. Today an ounce of gold costsmore than $1580 an ounce.
1700 - Consumer debt in America has risen by a whopping 1700% since 1971.
2016 - It is being projected that the Chinese economy will be larger than the U.S. economy by the year 2016.
$4155 - The average American household spent a staggering $4,155 on gasoline during 2011.
$4300 - The amount by which real median household income has declined since Barack Obama entered the White House.
$6000 - If you can believe it, the median price of a home in Detroit is now just $6000.
$10,000 - According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.
49,000 - In 2011, our trade deficit with China was more than 49,000 times larger than it was back in 1985.
50,000 - The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.
56,000 - The United States has lost more than 56,000 manufacturing facilities since 2001.
$85,000 - According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs.
$175,587 - The Obama administration spent $175,587 to find out if cocaine causes Japanese quail to engage in sexually risky behavior.
$328,404 - Over the next 75 years, Medicare is facing unfunded liabilities of more than 38 trillion dollars. That comes to$328,404 for each and every household in the United States.
$361,330 - This is what the average banker in New York City made in 2010.
440,00 - If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to totally pay it off.
500,000 - According to the Economic Policy Institute, America is losing half a million jobs to China every single year.
2,000,000 - Family farms are being systematically wiped out of existence in the United States. According to the U.S. Department of Agriculture, the number of farms in the United States has fallen from about 6.8 million in 1935 to only about 2 million today.
$2,000,000 - At this point, the U.S. national debt is rising by more than 2 million dollars every single minute.
2,600,000 - In 2010, 2.6 million more Americans fell into poverty. That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.
5,400,000 - When Barack Obama first took office there were 2.7 million long-term unemployed Americans. Today there are twice as many.
16,000,000 - It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
$20,000,000 - The amount of money the U.S. government was spending to create a version of Sesame Street for children in Pakistan.
25,000,000 - Today, approximately 25 million American adults are living with their parents.
40,000,000 - According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.
46,405,204 - The number of Americans currently on food stamps. When Barack Obama first entered the White House there were only 32 million Americans on food stamps.
88,000,000 - Today there are more than 88 million working age Americans that are not employed and that are not looking for employment. That is an all-time record high.
100,000,000 - Overall, there are more than 100 million working age Americans that do not currently have jobs.
$150,000,000 - This is approximately the amount of money that the Obama administration and the U.S. Congress are stealing from future generations of Americans every single hour.
$2,000,000,000 - The amount of money that JP Morgan has admitted that it will lose from derivatives trades gone bad. Many analysts are convinced that the real number will actually end up being much higher.
$147,000,000,000 - In the U.S., medical costs related to obesity are estimated to be approximately 147 billion dollarsa year.
295,500,000,000 - Our trade deficit with China in 2011 was $295.5 billion. That was the largest trade deficit that one country has had with another country in the history of the planet.
$359,100,000,000 - During the first quarter of 2012, U.S. public debt rose by 359.1 billion dollars. U.S. GDP only rose by 142.4 billion dollars.
$454,000,000,000 - During fiscal 2011, the U.S. government spent over 454 billion dollars just on interest on the national debt.
$1,000,000,000,000 - The total amount of student loan debt in the United States recently surpassed the one trillion dollar mark.
$1,170,000,000,000 - China now holds approximately 1.17 trillion dollars of U.S. government debt. Yet the U.S. government continues to send them millions of dollars in foreign aid every year.
$1,600,000,000,000 - The amount that has been added to the U.S. national debt since the Republicans took control of the U.S. House of Representatives. This is more than the first 97 Congresses added to the national debt combined.
$5,000,000,000,000 - The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office. In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.
$5,000,000,000,000 - What the real U.S. budget deficit in 2011 would have been if the federal government had used generally accepted accounting principles.
$11,440,000,000,000 - The total amount of consumer debt in the United States.
$15,734,596,578,458.59 - The U.S. national debt as of June 7, 2012.
$200,000,000,000,000 - Today, the 9 largest banks in the United States have a total of more than 200 trillion dollarsof exposure to derivatives. When the derivatives market completely collapses there won't be enough money in the entire world to fix it.
53 - Last year, an astounding 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed.
60 - According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably.
61 - At this point the Federal Reserve is essentially monetizing much of the U.S. national debt. For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.
63 - One recent survey found that 63 percent of all Americans believe that the U.S. economic model is broken.
71 - Today, 71 percent of all small business owners believe that the U.S. economy is still in a recession.
80 - Americans buy 80 percent of the pain pills sold on the entire globe each year.
81 - Credit card debt among Americans in the 25 to 34 year old age bracket has risen by 81 percent since 1989.
85 - 85 percent of all artificial Christmas trees are made in China.
86 - According to one survey, 86 percent of Americans workers in their sixties say that they will continue working past their 65th birthday.
90 - In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
93 - The United States now ranks 93rd in the world in income inequality.
95 - The middle class continues to shrink - 95 percent of the jobs lost during the last recession were middle class jobs.
107 - Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes.
350 - The average CEO now makes approximately 350 times as much as the average American worker makes.
400 - According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americanscombined.
$500 - In some areas of Detroit, Michigan you can buy a three bedroom home for just $500.
627 - In 2010, China produced 627 million metric tons of steel. The United States only produced 80 million metric tons of steel.
877 - 20,000 workers recently applied for just 877 jobs at a Hyundai plant in Montgomery, Alabama.
900 - Auto parts exports from China to the United States have increased by more than 900 percent since the year 2000.
$1580 - When Barack Obama first took office, an ounce of gold was going for about $850. Today an ounce of gold costsmore than $1580 an ounce.
1700 - Consumer debt in America has risen by a whopping 1700% since 1971.
2016 - It is being projected that the Chinese economy will be larger than the U.S. economy by the year 2016.
$4155 - The average American household spent a staggering $4,155 on gasoline during 2011.
$4300 - The amount by which real median household income has declined since Barack Obama entered the White House.
$6000 - If you can believe it, the median price of a home in Detroit is now just $6000.
$10,000 - According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.
49,000 - In 2011, our trade deficit with China was more than 49,000 times larger than it was back in 1985.
50,000 - The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.
56,000 - The United States has lost more than 56,000 manufacturing facilities since 2001.
$85,000 - According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs.
$175,587 - The Obama administration spent $175,587 to find out if cocaine causes Japanese quail to engage in sexually risky behavior.
$328,404 - Over the next 75 years, Medicare is facing unfunded liabilities of more than 38 trillion dollars. That comes to$328,404 for each and every household in the United States.
$361,330 - This is what the average banker in New York City made in 2010.
440,00 - If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to totally pay it off.
500,000 - According to the Economic Policy Institute, America is losing half a million jobs to China every single year.
2,000,000 - Family farms are being systematically wiped out of existence in the United States. According to the U.S. Department of Agriculture, the number of farms in the United States has fallen from about 6.8 million in 1935 to only about 2 million today.
$2,000,000 - At this point, the U.S. national debt is rising by more than 2 million dollars every single minute.
2,600,000 - In 2010, 2.6 million more Americans fell into poverty. That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.
5,400,000 - When Barack Obama first took office there were 2.7 million long-term unemployed Americans. Today there are twice as many.
16,000,000 - It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
$20,000,000 - The amount of money the U.S. government was spending to create a version of Sesame Street for children in Pakistan.
25,000,000 - Today, approximately 25 million American adults are living with their parents.
40,000,000 - According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.
46,405,204 - The number of Americans currently on food stamps. When Barack Obama first entered the White House there were only 32 million Americans on food stamps.
88,000,000 - Today there are more than 88 million working age Americans that are not employed and that are not looking for employment. That is an all-time record high.
100,000,000 - Overall, there are more than 100 million working age Americans that do not currently have jobs.
$150,000,000 - This is approximately the amount of money that the Obama administration and the U.S. Congress are stealing from future generations of Americans every single hour.
$2,000,000,000 - The amount of money that JP Morgan has admitted that it will lose from derivatives trades gone bad. Many analysts are convinced that the real number will actually end up being much higher.
$147,000,000,000 - In the U.S., medical costs related to obesity are estimated to be approximately 147 billion dollarsa year.
295,500,000,000 - Our trade deficit with China in 2011 was $295.5 billion. That was the largest trade deficit that one country has had with another country in the history of the planet.
$359,100,000,000 - During the first quarter of 2012, U.S. public debt rose by 359.1 billion dollars. U.S. GDP only rose by 142.4 billion dollars.
$454,000,000,000 - During fiscal 2011, the U.S. government spent over 454 billion dollars just on interest on the national debt.
$1,000,000,000,000 - The total amount of student loan debt in the United States recently surpassed the one trillion dollar mark.
$1,170,000,000,000 - China now holds approximately 1.17 trillion dollars of U.S. government debt. Yet the U.S. government continues to send them millions of dollars in foreign aid every year.
$1,600,000,000,000 - The amount that has been added to the U.S. national debt since the Republicans took control of the U.S. House of Representatives. This is more than the first 97 Congresses added to the national debt combined.
$5,000,000,000,000 - The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office. In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.
$5,000,000,000,000 - What the real U.S. budget deficit in 2011 would have been if the federal government had used generally accepted accounting principles.
$11,440,000,000,000 - The total amount of consumer debt in the United States.
$15,734,596,578,458.59 - The U.S. national debt as of June 7, 2012.
$200,000,000,000,000 - Today, the 9 largest banks in the United States have a total of more than 200 trillion dollarsof exposure to derivatives. When the derivatives market completely collapses there won't be enough money in the entire world to fix it.
STUDY: STATE PENSION SHORTFALL NEARS $1 TRILLION
(AP) Study: State pension shortfall ballooned in 2010
By CHRISTOPHER WILLS Associated Press SPRINGFIELD, Ill. Recession-plagued states diverted scarce money away from pensions to pay for more immediate concerns, leaving a $757 billion hole in the retirement funds covering millions of public employees, according to a study released Monday. The Pew Center on the States found 34 states failed to maintain safe levels of money in the pension funds, which most experts agree is about 80 percent of long-term obligations. Four states _ Connecticut, Illinois, Kentucky and Rhode Island _ didn't even have 55 percent of the money they'll need in the long run. More Here |
Why the Senate Won’t Touch Jamie Dimon: JPM Derivatives Prop Up U.S. Debt
 Check Out This Fucking Clown's Cuff Links
When Jamie Dimon, CEO of JPMorgan Chase Bank, appeared before the Senate Banking Committee on June 13, he was wearing cufflinks bearing the presidential seal. “Was Dimon trying to send any particular message by wearing the presidential cufflinks?” asked CNBC editor John Carney. “Was he . . . subtly hinting that he’s really the guy in charge?”
The groveling of the Senators was so obvious that Jon Stewart did a spoof news clip on it, featured in a Huffington Post piece titled “Jon Stewart Blasts Senate’s Coddling Of JP Morgan Chase CEO Jamie Dimon,” and Matt Taibbi wrote an op-ed called “Senators Grovel, Embarrass Themselves at Dimon Hearing.” He said the whole thing was painful to watch. Propping Up a Pyramid Scheme Is there no alternative but to succumb to the Mafia-like Wall Street protection racket of a covert derivatives trade in interest rate swaps? As Willie and Kirby observe, that scheme itself must ultimately fail, and may have failed already. They point to evidence that the JPM losses are not just $3 billion but $30 billion or more, and that JPM is actually bankrupt. More Here |
