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Archive for April 29, 2011

Losing Faith (In The U.S. Economy)

“Are the American people losing faith in the U.S. economy? The statistics that you are about to read might surprise you. Not everyone believes that the U.S. economy is dying (there are still millions out there that will swallow anything that the mainstream media tells them), but the reality is that there is a growing chunk of the population that has completely lost faith in our leaders and in our economic system. A brand new Gallup poll has found that the number of Americans that believe that we are in a “depression” is actually larger than the number of Americans that believe that the economy is “growing”. That is absolutely shocking because according to official government figures, the U.S. economy is growing right now and virtually nobody in the mainstream media or the government has used the term “depression” to describe the economic downturn that we went through recently. In fact, according to Gallup a total of 55% of the American people believe that we are either in a recession or a depression right now. This is clear evidence that the American people are losing faith in U.S. government economic statistics and instead they are basing their opinions on what they see in their own communities. Despite the pablum about an “economic recovery” constantly being spewed by Ben Bernanke and Barack Obama, faith in our economic system continues to decline. The truth is that the American people are not stupid. They can see what is happening to the economy.”

Via The Economic Collapse Blog

Categories: Economy, Unemployment

Obama’s past

Categories: Uncategorized

Obama Working “Under The Radar” To Sneak Attack Second Amendment

April 29, 2011 1 comment

“According to a little noticed quote in the Washington Post earlier this month which has attracted virtually no media attention, President Obama told gun control advocate Sarah Brady that his administration is working “under the radar” to sneak attack the second amendment rights of American citizens.”

“During a March 30 meeting between Jim and Sarah Brady and White House Press Secretary Jay Carney, at which Obama “dropped in,” the president reportedly told Brady, “I just want you to know that we are working on it (gun control)….We have to go through a few processes, but under the radar.”

The quote appeared in an April 11 Washington Post story about Obama’s gun control czar Steve Croley.

“What is truly startling about this story is the way it has been totally ignored by the rest of the media,” writes Jeff Knox….”Even the folks at the Brady bunch are not spreading the news about the stunning reassurances from the president. There is nothing on their website discussing or even mentioning Obama’s chat with Jim and Sarah.””

Via Prison Planet

Feds sting Amish farmer selling raw milk locally

“A yearlong sting operation, including aliases, a 5 a.m. surprise inspection and surreptitious purchases from an Amish farm in Pennsylvania, culminated in the federal government announcing this week that it has gone to court to stop Rainbow Acres Farm from selling its contraband to willing customers in the Washington area.

The product in question: unpasteurized milk.

It’s a battle that’s been going on behind the scenes for years, with natural foods advocates arguing that raw milk, as it’s also known, is healthier than the pasteurized product, while the Food and Drug Administration says raw milk can carry harmful bacteria such as salmonella, E. coli and listeria.”

Via Washington Times

Chicago PMI Misses, Survey Respondent: “Companies That Are Very Profitable Still Behaving As If Bankruptcy Is Around The Corner”

“While the miss in the April Chicago PMI was just as we predicted, with the final read of 67.6 below “expert” expectations of 68.2, and down from a near record 70.6, it seems that the full pain will only be felt yet. The reason: “In response to special questions about the Japanese disaster, panelists reported minimal impact.” They will. Guaranteed. Which means that upcoming weakness is simply deferred from April to May or later, pushing back the “imminent” rebound further into the future, yet guaranteeing a major miss in Q2 GDP. Our call continues to be for a Q2 GDP of at or below 2%. Yet the most insight as usual comes from the survey respondents, where we find this pearl of wisdom which probably explains everything that is wrong with the economy: “Companies that are very profitable still behaving as if bankruptcy is around the corner”. And why wouldn’t they: when in the history of human events has central planning every worked?”

Via Zero Hedge

Categories: Economy

Caught on tape: Las Vegas police beating man in front yard

” A Las Vegas Metropolitan Police officer has been suspended after he is caught on video tape beating a man in his own front yard.

“Listen turn of the camera for me,” says officer Derek Colling, as he approaches Mitchell Crooks.

“No sir, I am within my legal rights to do this,” replies Crooks.

Within seconds, Crooks is thrown on the ground by the officer; his video camera still rolling by his side.

“You can hear the punches on there,” says Crooks while reviewing the tape. “Ya that’s pretty tough for me to watch still to this day.””

Via KYNV Las Vegas

Wal-Mart: Our shoppers are ‘running out of money’

“Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.

“We’re seeing core consumers under a lot of pressure,” Duke said at an event in New York. “There’s no doubt that rising fuel prices are having an impact.””

“Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

Lately, they’re “running out of money” at a faster clip, he said.

“Purchases are really dropping off by the end of the month even more than last year,” Duke said. “This end-of-month [purchases] cycle is growing to be a concern.”

Via CNN Money

Categories: Food prices, Inflation

Waking Up to Economic Realities

“Last week the financial markets were roiled by Standard & Poor’s announcement that they will change their outlook on the fiscal health of the United States over the next two years from “stable” to “negative.” The administration decried this decision as political. However, it seems the only political thing about this decision is the fact that it took so long. The Washington Post recently reported that the White House and the Treasury Department put tremendous pressure on S&P not to do this. However, if S&P made its ratings based on political pressures rather than economic reality, it would cease to have any relevance to the business community. Even if S&P delayed its announcement that U.S. government bond market would be downgraded, at some point it would become obvious that the finances of this country are out of control and our leadership is out of touch. All credibility would be lost if S&P simply continued to assign U.S. debt a AAA rating. “

Via Lew Rockwell

Categories: Debt, Economy

The Real Inflationary Threat – Decreasing Foreign Reserves: Why the US Should Expect 8% Inflation For The Next Three Years

“This is a good proxy for money growth and good predictor of inflation except for one crucial flaw.
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There is some money which is printed, but does not make it into the money supply. Consider the scenario that the Fed prints a dollar that is then either lost or destroyed. It then cannot be used to buy goods, or be lent out and thus does not create inflation.
There is something else which can happen to our money which has the same net effect. Foreign central banks can take cash printed from the Fed and place it on their balance sheet. US dollars on foreign banks balance sheets gives investors confidence that their own currency will not be debased.
In our current (weakening) dollar regime, the US dollar is the main foreign reserve currency. When foreign central banks put US dollars onto their balance sheet, they take them out of circulation. They are not being used to buy goods. These dollars are not lent out. As such, they do not create inflation. “

Via Zero Hedge

Categories: Inflation

The Next Two Months: Best Case, Medium Case, Worst Case

“David Galland put together an analysis worthy of your time where he discusses various viable scenarios we may see play out with the US dollar, stocks, commodities, and precious metals in coming months:”

Via SHTF Plan

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