Thursday, June 25, 2009

America Gets Poorer (Part II)

Twenty years ago few educated people listened when anyone talked about the obvious plan by Wall Street to use the Federal Reserve system to transfer all wealth to them from us.

Now they all listen as they see retirement plans and jobs go up in smoke while homes are being foreclosed and state and local governments slide into bankruptcy. Our unemployment rate is actually higher than it was in 1930.

In many other ways we are much worse off today than in 1930. Our current Gross Domestic Product (GDP) has contracted to just under 14 trillion dollars. But 40% of that measure of domestic output of goods and services includes government which produces nothing we consume like food and clothes. If we were charitable and subtracted 35% and not 40% from 14 trillion dollars for government, we would see that Americans are producing 9 trillion dollars in real consumable wealth.

Yet today we have an 11.4 trillion national dollar debt to service. We are adding 2 trillion dollars a year to that debt and have allowed the Congress and two Presidents to obligate us to pay up to 13 trillion dollars in Bail Outs to their benefactors in Wall Street who own the Republican and Democratic parties.

Nobody disputes the fact that we are on track to a 20 trillion dollar debt. Interest rates have been inching upwards. For the next several weeks the US Treasury will be selling more than 100 billion dollars a week in bonds in order to finance the deficit and the Bail Outs. So what happens to us when we have to pay 2 trillion dollars a year in interest with a GDP of only 9 trillion dollars in real output? What happens when the Chinese tell us to double the interest rate and we have to pay 4 trillion dollars from that 9 trillion dollars that used to be ours?

Already there are people in China and Japan who are saying they should only sell us bonds in Chinese yuan and Japanese yen so they can protect themselves from a devaluing American currency.

In my last essay I explained that when we went over 150,000,000 in population we had to begin importing oil and other natural resources. To earn enough foreign currency to buy oil from overseas we were supposed to lower our wages so foreigners making fifty cents to a dollar an hour could afford to buy our exports. We did not do that.

Instead Wall Street decided to give 156,000,000 legal and illegal immigrants plus their children our standard of living by borrowing money from foreigners to buy oil and other imported goods and resources. When, not if, foreigners refuse to accept IOU Nothing Federal Notes and demand that we earn yuan and yen and euros to buy our imports, we will have to cut off all oil imports for the bottom half of American consumers. We will do that by raising the price of gasoline to $4 a gallon and then to 7 and then 10 and then to $20.

I have heard that we are on target to add another 50,000,000 and then another 100,000,000 and even another 150,000,000 people. As it stands, we will have to cut after tax and inflation real wages in half to balance our trade deficit. That means foreigners will be able to buy our exports and the working class and the middles class will not be able to either buy foreign cars or even to buy gas to drive to work.

Of course if we add another 100,000,000 people, we will have to boldly face a 65% or even a 70% permanent pay cut.

I believe that the bankers on Wall Street knew this would happen when they deliberately supported unlimited legal and illegal immigration. Wassilly Leontieff did an input output analysis of the American economy in the 1930s where the outputs of the mining industry for example, coal and iron, became inputs to the steel industry whose output in turn became inputs to the construction, automotive and appliance industries, such as, washing machine manufacturers.

A follow up study at Stanford in 1955 found that Americans enjoyed high wages because they added valuable skilled labor to their abundant natural resources. The study specifically warned us that if we went above 150,000,000 in population we would have to cut wages to pay for imported oil, minerals and other natural resources.

Yet Wall Street went ahead with their plans to impoverish Americans. Why? I believe their goal is to reduce Americans to slavery.

There has been in place since 1913 another scheme to transfer all wealth from the working and middle classes to Wall Street. As I said, we are on track to a 20 trillion dollar national debt and an annual interest only payment of 4 trillion dollars. And yet, as my long time readers know, all government debts are fictions. I promise to explain just why government debts are fictions in the next installment in this series.

In Part I of this essay I pointed out that housing prices were forced up through massive immigration and that savings went below zero. Wall Street created a system where 85% of youmg couples could no longer afford to buy homes. The Congress which is owned by the bankers passed the Housing and Economic Recovery Act of 2008 which had a provision which will now be used by the nre administration to bulldoze whole sections of towns with dozens of foreclosed homes.

Think what this means. They will be bulldozing homes and denying housing to the 80% who will never be able to afford to buy a home. And never forget that they did that after running up the housing bubble and crashing the market so that they could take away all the savings whether it was in our 401K or in our home equity. And they did that while knowing their unlimited immigration policy would permanently cut our wages in half. This kind of clever but insane cruelty boggles the mind.

I have talked many times in the past of Wall Street’s divine right to steal billions of dollars each week from unaudited federal spending under Democratic and Republican administrations alike. They have sent this money overseas where they combined it with their profits from laundering more than a trillion dollars in drugs and up to 400 billion in illegal weapons plus the money for cleaning 500 billion dollars a year in bribes for politicians around the world.

All that money will soon be repatriated after the dollar crashes and they buy what is left of America for pennies on the dollar.

And now the new administration has decided to turn regulatory control of the economy over to the privately owned Federal Reserve Bank. The Congress gave the FED a license to create our money long ago and now they will soon have the power both to create our money and to run the economy as well.

We will be turniing over control of all our savings, our investments, our banking system, our companies and our government to criminals who have systematically looted this nation for more than one hundred years.

Does this mean we are to formally acknowledge Wall Street as Master and ourselves as slaves? I say no. I was born a free man and will die a free man.

I agree with Gerald Celente when he says we will very, very soon have food riots in major American cities. I also predict that if we do nothing to stop the bankers, millions of Americans will decide to kill themselves rather than either to steal from their neighbors or to die slowly of starvation.

Are we to have widespread starvation in America and suicides in the millions because Wall Street will not allow us to tell people through our universities and the mainstream media that government debts are fictions? Will the Lords of Wall Street forever deny us common folk the right to audit federal spending? Were we predestined to become slaves in service to our betters at Goldman Sachs and the Federal Reserve?

I do not think so.

What is more important, our real lives or Wall Street’s dreams of power and glory?

Saturday, June 20, 2009

America Gets Poorer (Part I)

I can remember working for the minimum wage while I was classified I-A by my local draft board and was waiting to see if I was to be sent to Vietnam. It took eight hours for me to earn enough money to pay my rent for one week in San Francisco. Today the cheapest room at minimum wage would take a young worker 25 hours to pay for. A worker’s after tax and rent wage has fallen from 32 hours to 15 hours of disposable income in a generation.

My focus in this essay will be on the American middle class as that is where most of us see ourselves. In part one of this series on what I believe is the deliberate impoverishment of the middle and working classes in America I will summarize a long video presentation by Elizabeth Warren who was astounded at what she discovered to be true and not true about the changes in the American middle class in just one generation.

The video is 54 minutes long and can be seen here.

In her lecture at Berkeley the Harvard professor of consumer contract law said she found a co-operative employee at the Commerce Department who was willing to run the numbers comparing a family of four from 1971 to a family of four in 2003. Ms Warren said she did not believe the results until the man at Commerce had run different statistics eight times for her.

She knew that the median family in 1971 saved 11% of its income and spent only 1.4% of that income to cover credit card debt. Today savings are negative. In 2005 her median family of four had a negative savings of 8/10ths of one per cent and had credit card debt equal to 15% of their income. So if Americans stopped saving and went into deep credit card debt in one generation, she wanted to find out where all that money went.

Her first request was to ask how much more Americans were spending on clothes today than 30 years ago. In 1970 a married woman with one sixteen year-old child was more likely to be at home than was a woman with one six month child in 2003. The increased participation of women in the workforce has increased the median family income from $32,000 to $73,000 after adjusting for inflation. Incomes for men have declined but family incomes have risen so she was expecting the middle class to be spending a lot more on clothes.

Wrong. We spend 32% less on clothing. She didn’t believe the results so she asked her man at Commerce to run the figures on food. Surely we were spending more on food including meals out especially with mom working. Wrong again. We are spending 18% less on food.

Well, maybe we were spending more on appliances. Also wrong. We are spending 52% less. We had to be spending a lot more on cars. We were spending 24% less per car. We held onto our cars longer and spent less to repair them. However, she did find that we were spending 52% more on total car expenditures because with mom working fulltime we have to operate more cars.

She found we were spending $300 a year more on electronics. We also spent more on dog food but less on dry cleaning and baby food. However these items were negligible and not big enough to affect the totals.

So where did all of our money go? One big ticket item to go up dramatically was the home mortgage. It went up 76% even though interest rates are lower. Home prices have increased a lot. Actually,the price of housing for unmarried couples only went up 52%. Married couples who have to worry about the quality of schools have to pay a lot more for shelter.

She found that the average house today has 6.1 rooms versus 5.8 in 1971. The reason is that new homes have been priced out of the reach of most young couples. The construction industry does not bother to build starter homes anymore like they did in the 1960s. Nothing is being built for the bottom 80% of society.

Another big ticket item to go up was daycare. Ms Warren arbitrarily put the increase in spending on daycare at 100% because we spent nearly zero in 1971 and division by zero is undefined. She found that we were spending more for college as well. I checked and the figures are unbelievable. The average fulltime student at a four year public college pays over $6,000 a year in tuition and fees . A two year college will still run over $2,000. All of this required education both at pre-school and at college are seen as needed to prepare the next generation for work. And most of these new and therefor additional expenses are carried by the family.

Ms Warren pointed out that the city of Chicago decided to offer subsidized day care to the public. The tuition for three year-olds was more than for students at the University of Illinois. Parents today pay for 1/3rd of all education costs versus the 1971 family that had most of their costs publicly funded.

Taxes also went up as the wife’s income was taxed at a progressively higher rate. Taxes are about 24% more.

The cost to the median family of four for employer sponsored health care has risen 74%. And it is inferior care in respect to the amount of time we are expected to spend at home recuperating while a family member takes care of us. In 1971 a woman who gave birth could stay in the hospital for five days for natural birth and up to ten days for Caesarian. She could elect to go home earlier if she chose. Today she is lucky she gets one day in hospital and that is only because many state legislatures decided to protect mothers from being prematurely pushed out of her recovery room.

Hospital policy is to send them home quicker and sicker. We now have 80 year-old relatives being told by the nurses how to give themselves injections. This is not the same care as a generation ago when nurses gave the shots. We also face the burden of having one parent, usually the mother, to stay home from work to care for a parent, a child or a spouse who might need help for several months.

Health care, job loss and family break up are the three leading causes of families filing for bankruptcy. Professor Warren found that a family with two parents and two children in 2005 was more likely to file for bankruptcy than to file for divorce. And that was before the current down turn in the economy.

If you look at the big ticket fixed costs the family faces today, you will see that we need to receive 104 checks a year versus the 52 checks a year family of 1971. Back then if a man lost his job and went on unemployment his wife could go to work and even though she did not make much it was sufficient to cover their monthly costs. Unemployment insurance used to pay a much higher per centage of your income.

To cover the mortgage, health care, taxes, credit card debt and cars, the 2003 family needs to spend 75% of their income to cover these basic fixed costs. In 1971 the average family only had to spend 50% of its income to cover its fixed costs. In fact the disposable after basics income for 2003 families was actually less than that of their parents’ generation.

Professor Warren thinks we are in danger of losing the middle class to poverty. She also says the middle class is so hard pressed to make its financial commitments that it has nothing left over to give to the poor.

Since Professor Warren is a liberal and teaches at Harvard, she cannot say what I will. One reason for cars costing more to operate is the high price of gasoline. We have over 306,000,000 people in this country. We have added 100,000,000 people to our population due to legal and illegal immigration and the greater numbers of children immigrants have. This means we have to import more oil and it is the demand for imported oil that has driven the price of oil much higher. In 1971 a 42 gallon barrel of oil imported from Saudi Arabia cost less than a single gallon of gasoline in Chicago does today. That increased cost was all due to immigration.

In 1972 a new three bedroom home in San Jose California was $40,000 and now should cost $259,000. But does cost twice that. Sales taxes went from 6% to 9 ½ % due to illegal immigration and the higher birth rate. A businessman might gloat about the cheap wages but we all have to pay taxes to support the families that cannot be supported or educated for near minimum wage workers.

Note. This is part I of a multi-part series on the plans by those who think they own the federal government to impoverish Americans. I promise to explain how and also why and what these insane men are doing their best to destroy America.

Sunday, June 14, 2009

NOW IS THE TIME TO CALL 202-224-3121

Bankers are more dangerous than standing armies.
Thomas Jefferson in a letter to Albert Gallatin

Now is the time for you and everyone you can persuade to call the United States House of Representatives. The House is holding a hearing on HR 1207 which will require an audit of the Federal Reserve Bank. The FED has never been audited since it was created in 1913.

At a recent hearing, Federal Reserve Chairman Ben Bernanke was asked by an elected representative what exactly he did with the more than one trillion dollars in new assets he created since last year and used to bail out Wall Street firms. The man was so arrogant that he refused to answer any questions. As if the billions of dollars Wall Street donates every election cycle trumped our votes.

Now is the time to take back our democracy from the bankers. I am fully persuaded that if even one tenth of the criminality of the banking system is revealed in the forthcoming hearings, the public will be so enraged that they will force the House and then the Senate to pass the bill requiring the FED to be audited.

Now is the best possible time for the revelations from the audit to be made public. People are losing homes, jobs , cars, pensions and retirement savings. The dollar is about to crash. And the US debt is 11.4 trillion dollars and growing almost two trillion dollars a year threatening to send us all into permanent debt slavery to Wall Street if we do nothing now.

Many have become disheartened by a corrupt political system but it is Wall Street and the Federal Reserve that are at the core of that corruption. If we all make one phone call now, we can put an end to the power of all those who have stolen our money and all but destroyed America.

In 1906 there was a reform movement in California that did not get any traction until the earthquake and fire destroyed most of San Francisco. The citizens became so enraged by shoddy government sponsored construction that the reformers took over city hall and then went on to take away the state legislature and the governorship from the railroads.

We now have millions of angry people behind us. Please call the Capitol Switchboard at 202-224-3121 and launch the reform movement that is America’s last and best hope.

If you do not know your Congressional representative‘s name, you can go to and type in your zip code to find out. You can also find their local and congressional office direct lines.

Ask them why the Federal Reserve should not be audited at least once in 96 years. Ask them if they think that the bankers are above the law?

If you want to find out before you call whether or not your congressional representative supports HR 1207, you can go here:

If your representative does support HR 1207, then give them your appreciation and support. They will need it as we are all headed into dangerous and trying times.
The Week That Was 6-14-09

The one word that sums up this week’s news is INSANITY. Nothing new there. I was eight years-old when I had that vision of WW III and fully realized the maniacal, hate-filled and self-destructive nature of world leaders.

The dollar spirals downwards as interest rates, oil, gasoline and unemployment inch upwards till we reach that day in a few months when it all goes to hell and we have food riots in the streets. All this while insane men fritter away our time and resources. Tick Tock.

President Obama who won the Democratic primaries as an anti-war candidate has been trying to outdo Bush and Cheney. Last month he was sending more troops to Afghanistan. Mr. Obama please explain to us why sending troops to Iraq was a bad idea but sending troops to Afghanistan is a good idea.

Last week the President of the United States proposed prolonged detention for people who might be suspected of committing a crime in the future. He specifically mentioned a ten year sentence. No mention of what we do with people after serving ten years for not committing a crime.

There was a time when we could have taken a transcript of a speech like this, removed all identifying references to people and places and nobody would have thought an American President would have uttered such gibberish. Ten years in prison without trial because someone thinks you might commit a crime in the future!!

To balance his dark side our anti-war President has the FBI reading Miranda warnings against self incrimination to prisoners captured in Afghanistan.

He has also given the island nation of Palau 200 million dollars to take in a few Chinese Muslims who were captured near Tora Bora in Afghanistan, That works out to a cost of 11.7 million dollars a Muslim.

Anti-war Presidential advisors do not understand the military. A lot of soldiers will probably just shoot prisoners rather than fill out all that paper work from the Department of Justice.

The Obama DOJ has also been busy covering up torture on an American citizen for Bush and Cheney and the AIPAC spy case for Israel.

Taken altogether the policies of this administration make no sense especially when you consider that regular gas is selling for $3.00 a gallon in California and interest rates have creeped up to within one point of tipping us over into a very steep Depression from which we might not ever recover. Tick Tock.

Our friends in Israel have kept pace with America in the competition for insane politicians. The Israeli parliament has passed a law making it illegal to commemorate the Nakba which is a Palestinian day of remembrance for the 700,000 Palestinians forced from their homes at gun point in 1948.

They have also made it a condition of citizenship for Israeli-Arabs to swear allegiance to Israel as a Zionist state. Now critics worldwide have reason to compare Israel to South Africa. Imagine an African being forced to swear allegiance to a white separatist government before being granted citizenship.

Israel has continued to expand its illegal settlements on Palestinian territory. By the way, that famous quote from the Iranian President saying Israel should go off the map was part of a longer statement in which he compared Israel to the Soviet Union. The latter nation is no longer on the map and deservedly so. It has been replaced by Russia and several other independent nations.

It is past time for the whole world to seriously consider allowing Israel to be replaced by a Greater Palestine which would have to consist of two separate Palestinian states for a generation or two.

If Jewish people want to feel safe,they will have to learn to make their neighbors feels safe. They can begin by removing the blockade of Gaza, withdrawing all illegal settlements from the West Bank, tearing down all sections of the Apartheid wall on Palestinian land and stopping all insane talk of launching World War III by attacking Iran.

As I have said before, Mordecai Vanunu told us that Israel killed President John Fitzgerald Kennedy so they could develop nuclear weapons. The Israelis jointly tested their first nuclear bomb with their allies in Red China in 1964.

And as I have said before, the real reason why Israel killed our first Catholic President is the same reason why they want to launch a war against Islam. They want to be eternally hated by a billion Catholics and 1.3 billion Muslims.

The goal of the current self-appointed Jewish leadership is the same as that of their forbears in 1935 when they financed Hitler’s purchase of weapons with a loan from a Rothschild owned bank that was the monetary equivalent of 50,000,000 ounces of gold.

Simply put the Israelis are trying to get us all killed just so they can get themselves killed. Israel is the definition of Insanity.

Quote 1 of the week: If torture, er, waterboarding were against the law, Bush and Cheney would be arrested and sent to jail. Bill O’Reilly

Quote 2 of the week: In the long run we are all dead but our children are left to pick up the tab. Thomas Hoenig President of the Kansas City Federal Reserve Bank.


You can watch President Obama explain this insanity of preventive detention for future crimes you might commit here:

To read about the Obama administration using indefinite detention without trial in Iraq and Afghanistan please go here:

To read about allowing torture victims to plead guilty and avoid trial please go here:

To read about the torture of an American citizen in Dubai at the request of the FBI please go here:

And go here to read about the judicial: cover up which includes the Obama DOJ:

Here is another Obama DOJ cover up of the AIPAC spy case:

This is another outrageous Obama DOJ assault on free speech. This time against the Las Vegas Review Journal:

The Israeli cabinet minister who flaked out and demanded a boycott of American products can be read here:

You can read about the Jews only suffer controversy here:

You can read a Jewish American’s take on the insane laws the Israeli parliament is passing here:

Or you can read this poll that says Israelis think they have one of the most corrupt governments in the world:§ionid=351020202

Thursday, June 11, 2009

Richard Gage Interview

Richard Gage of Architects and Engineers for 911 Truth was interviewed Tuesday night Wednesday morning by George Noory on the nationwide radio program Coast To Coast Am. The following is a few of the points he made about the collapse of World Trade Center Towers 1, 2 and 7 on 911. His website now has 684 registered architects and engineers who have signed his petition for a new inquiry into the events of 911. He was employed for 20 years as an architect but is now working for full time for 911 Truth.

Tons of molten iron were found at the World Trade Center site. FEMA acknowledged this as a fact but later omitted it from its final report.

Sulfur and thermite, cutting agents, were found in the molten iron.

Nano-thermite was found in the dust debris of the WTC. (Nano-thermite is not commercially available. It is only available from Defense Department labs.)

He said he has more than 20 other smoking gun items of evidence like Nano-thermite at his website.

There are multiple eyewitnesses who saw and heard explosions prior to the collapse of WTC 7.

We have more than 100 first responder witnesses to explosions in WTC 1 and 2 prior to their collapse. We did not have transcripts of their testimony until the New York Times successfully sued the City of New York in August of 2002.

The Popular Mechanics hit piece on 911 Truth was debunked by the official NIST (National Institute of Standards and Technology)report.

NIST said 80% of the jet fuel was consumed in explosions outside the towers.

Office fires have enough fuel to last 20 minutes and must move on or burn out which explains why skyscraper fires can last for 16 to 30 hours. But these fires were not like WTC 1, 2 and 7.

He did not get into the 911 Truth Movement until three years ago after investigating David Ray Griffin’s book The New Pearl Harbor.

When he asks most architects if they have seen the collapse of WTC 7 he says they say they had not seen it. When he shows them a video of WTC 7 collapsing at nearly free fall speed against the path of most resistance, he says the majority are convinced that it was a controlled demolition.

WTC 5 burned but did not collapse free fall style against the path of greatest resistance.

WTC 7 had 40,000 tons of steel in its path to be overcome when the tower did collapse.

No steel frame building prior to or since 911 has ever collapsed at nearly free fall speed against the path of greatest resistance.

A high school physics teacher made NIST retract their original claim that Towers 1 and 2 collapsed at only 40% of free fall speed.

Steel beams were ejected up to 600 feet away from the WTC.

NIST concluded that the WTC towers were well designed and constructed.

His website can be found here:

You can see Richard Gage being interviewed by local FOX reporters in Fresno in a YouTube post on the main page of his above website.

Sunday, June 07, 2009

The Week That Was 6-07-09

I have decided to highlight the significant news of the week. This week boils down to Money and to the Mideast.

Obama made a speech in Cairo Egypt . He is an incumbent President and can no longer run against Bush. Obama decided to expand the war in Afghanistan. Obama spilled his war over into Pakistan creating 2.4 million Muslim refugees without adequate provisions for their care. He also appointed Stanley McChrystal to lead NATO forces in Afghanistan. McChrystal was the head of the Joint Special Operations Command which is to say he was in charge of Dick Cheney’s assassination bureau. K T McFarland, a FOX news contributor and former Republican DOD official has just returned from Afghanistan. She sees no goals, no exit strategy and lots of downside to this expanded war.

In my opinion Afghanistan and Pakistan could spin out of control long before Israel attacks Iran. I remind you that I predicted no war against Iran in 2009. Let me emphasize that Afpak is now Obama’s war to lose. And he cannot win it. So why is he there?

Iran announced they will begin production this week of 40 km range ant-aircraft missiles. As I reported previously, the Chinese had been talking to Iran about selling them Hong Qi 9 anti-aircraft missiles which have a range of 75 km. The Iranians have a history of building Russian and Chinese military equipment under license. Most notably those 100 and 150 km range rocket artillery pieces that could together with the SS-N22 Sunburn and SS-N26X Yakhonts (Onyx) anti-ship missiles sink our entire Persian Gulf fleet in minutes. The Iranians are only saying that these new 40 km range anti-aircraft missiles are fast (supersonic) and accurate.

As I said before, an Israeli assault on Iran’s nuclear works would be suicide for the Jewish pilots. They have to come within a 9 km range of their targets at specific angles to release their American GBU-28s which means that the Iranians can flood the sky with anti-aircraft missiles prior to the Israeli jets reaching the 9 km envelope at which point they can fill the sky with rapid anti-aircraft fire and then release even more missiles as the American supplied jets attempt to return home. Did I mention that these 90 plus jets would have to refuel both before and after hitting their targets? Israel would be lucky if half of their pilots and planes returned home. For what? Iran is years away from developing a nuclear bomb. North Korea will be selling nukes before that.

In passing I should note that the Saudi Foreign Minister has threatened to use oil as a weapon to force Israel out of Gaza. I don’t think we will hear more of this until Israel attacks Lebanon again. Maybe in a few months.

A couple weeks ago I mentioned the Laugh Heard Round The World in reference to that fast approaching day when the President of the United States goes to China and asks for a couple trillion dollars to fund our deficit and to please throw in a few hundred billion to bid oil away from Chinese workers so unemployed Americans will vote for Obama’s party in the 2010 elections.

Last week the Chinese laughed when Treasury Secretary Tim Geithner tried to explain to them that their nearly two trillion investment is American bonds was safe. I am now seeing articles around the world saying what I have been saying about the funding of the deficit. World trade has collapsed so no group of countries in Asia or Europe has enough of a trade surplus to fund our enormous deficits. That means we will have to monetize the debt which is to say that the Federal Reserve will have to create another trillion dollars every few months to fund the deficit and to buy worthless government backed mortgages from Fannie Mae as they did earlier this year,

Keep in mind that the trillions of dollars the FED is creating is expanding M0, the monetary base which can through fractional reserve banking grow into ten to twenty additional M3 dollars. We are headed to a REALLY BIG INFLATION in the very near future.

The Fed did manage a few months ago to bring down interest rates on Treasury bonds and home mortgages when they created a trillion dollars and bought Fannie Mae mortgages and Treasury bonds. If you remember I told you that we need to keep an eye on Treasury bond auctions so we could tell when the dollar was in imminent danger of collapse. Interest rates have creeped back up 7/10ths of a point on Treasuries and half a point on mortgages.

If, as expected, those two rates go up another point, the economy will nose dive big time.

State and local governments are facing savage cuts in their budgets which combined with tax increases will produce a counter effect to Obama’s federal stimulus.

I would love to force someone from the administration to sit down with an intelligent person and explain how it is possible that they can even think that there is one chance in a thousand that their economic policies will work. And then have them come back and repeat the show the next night with our Mideast military policy as the subject.

Quote of the week: Have you hear of the new car to be released by GM (Government Motors)? It’s called the Obama. It goes from zero to Bush in 8.4 seconds. Quoted from Mike Rivero.


This is a very funny video. If Steve Jobs were George Bush or Barack Obama:

To watch K T McFarland’s video DEFCON 3 made after her return from Afghanistan please go here:

To read about those new Iranian anti-aircraft missiles please go here:

To read about what the Saudi Foreign Minister had to say about using oil as a weapon to get the Israelis out of Gaza please go here:

To read why debt monetization is the only path the Federal Reserve can follow please go here: