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A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.

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In Defense Of A Nation

Wednesday, May 21, 2014

By Michael Mccune: The Rant (US Government auditor for 16 years In Cheyenne, WY. - Government, 1% Only Winners in "Recovery" (( to Have Michael send you the Rant to your Email contact Him Here ((

Government, 1% Only Winners in "Recovery"
Economic news report continues to defy facts.
Today, Monday,  the left-wing mouthpiece CNBC put out an article detailing the four main reasons the U.S. is in an economic recovery. To offset that optimistic report on Friday the Daily Ticker described the trouble the U.S. is having hanging onto major companies and two hours after the CNBC report came out, Analyst/Consultant Howard Davidowitz explained the problem with retail sales is because 80 percent of America--the middle class--is in a deepening recession.
The CNBC report was widely accepted and repeated by other news outlets. The two downbeat items received almost no mention. The question is how did CNBC come up with their report if they used real facts and not biased emotion.
According to CNBC "signs of modestly higher inflation and a robust jobs market in the U.S. have many economists cheering the recovery." The "modestly higher inflation" is not due to any increase in the economy but a reflection of the Fed's printing press policy. As for the robust jobs market, the left continues to compare apples and oranges because the high-paying, living wage, full-time jobs that went away are being replaced by part-time, non-living wage jobs. How is that going to work out?
What is of special interest was the acknowledgement by the CNBC that "consumer spending is likely to be more lackluster." Thus the report places all its optimism on 1) a weaker dollar, 2) shale gas development (fracking) which allows the U.S. a big competitive edge via less expensive gas and electrical prices, 3) trade financing because the U.S. companies found it impossible to complete international trade deals abroad after 2008 and thus had to turn to domestic sources, and 4) Apple is going to lead a tech charge.
Those are CNBC's reasons the economy is set to turn dramatically better this summer. Let's explore the reasons a bit deeper.
1) While a weaker dollar normally means an upside for consumers, the dollar's weakness at this time aids nobody. In fact the dollar's weakness abroad just allows for more assaults on removing the greenback as the benchmark currency because, as Davidowitz so aptly points out, the American consumer is still in decline trying to stem the inertia of an economy that is still seeking a true bottom but has been hindered by a control-mad government.
2) Any fossil fuel development is being attacked by the tree-huggers as a bad thing but fracking has been a very sore point. Done correctly it is a perfectly harmless way to extract more BTU's from an already completed well or field system. But the Lefties want to ban all fracking and have a willing ally in the EPA. How then can this one step forward-two step back process be considered an asset for the future? Could it be the left wing is finally acknowledging the additional costs and economic non-competitiveness of the green technology is a hindrance to the recovery? If so, this might be a real positive step forward for the future...all the government has to do is remove the EPA's inane regulations. But no liberal candidate would ever get nominated destroying the base of the tree-hugger agenda.
3) Trade financing done from local sourcing might have been a boon but for the fact the institutes involved were not only the cause of the recession but also the sole beneficiaries of the bailouts and stimulus packages. All one is doing relying on them is concentrating even more of the wealth into the hands of the dreaded 1 Percenters while the 99% sink deeper.
4) Apple is going to lead a technology surge. That helps very few workers and, again, concentrates a vast amount of money into the hands of a very few people. As many economists point out, the gauge of the economy was many people doing well over an extended period of time. Tech companies have been the exact opposite of that premise for the most part.
Now turn to the opposing views. The fact big companies are leaving the U.S. is not a shock anymore and therefor not newsworthy. The environmental concerns alone have forced hundreds to seek pastures where emission standards are not a concern--which again shows the idiocy of allowing the EPA to run wild with economy-killing rules. But the larger problem is our unwieldy tax system and its spiraling rates makes even places like Britain more attractive than ever. Pfizer announced plans to move its headquarters to the UK to take advantage of the lower rates there.
Inane government policies like the obsession with "hidden U.S. wealth abroad" brings to mind the statement by Leia to the Imperial Commander in Star Wars, "The tighter you squeeze to hold worlds in your grasp, the more they will slip through your fingers." The insatiable maw of mandatory spending on entitlements demands more and more sustenance through a rising tax base by Congress. This policy puts the U.S. at a distinct disadvantage in the world market.
The last nail in CNBC's report comes from Davidowitz. He argues "One in six Americans are living in poverty (compared to but 1 in 18 when the War on Poverty started in LBJ's Great Society more than 50 years ago). Forty-Nine million alone are on food stamps."  Then Davidowitz hits the nail directly. "The reason retail sales are slipping is Americans don't have any money."
Davidowitz blasts the notion cold weather kept people home this winter. "It's the other way around. The weak economy is keeping people home, the weather provided an excuse. People can't even afford to shop at Walmart anymore."
Recovering or not, the fact remains more Americans report they feel a financial strain unlike anything they've previously felt which is bad news for the economy and blows the myth the recession is over. The middle class, the backbone of America for two centuries, is in decline and anyone who pretends otherwise is deluding themselves. That equates to the recession's demise as a figment of liberal emotion.
Government has to be reined in or the economic situation will get worse. Financially, this republic is in danger not because of outside threats but those emanating from a corrupt government the alleged watchdog media. The economy is ripe for an implosion. 
"I have sworn on the altar of God eternal hostility to every form of tyranny over the mind of man."--Thomas Jefferson 

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