Understanding the Fiscal Cliff Hoax

Understanding the Fiscal Cliff Hoax

One key thing you have to understand about Washington D.C. is that politicians have to keep making sure you think they are relevant. 100 years ago this was not the case. Washington, had virtually no control of the country. This was fine because that was how the federal government was supposed to work. It was only in control of a few key things. With the advent of the 4th central bank of the US, the federal reserve plunged the nation into ultimate control by the federal government. From then on, politicians in Washington have fought an ever increasing battle to gain control and impress upon citizens that they are relevant.

Enter the fiscal cliff

The fiscal cliff is just one of the latest, in a long line of disaster scenarios engineered by Washington to make citizens think that Washington is somehow integral to the nation’s economy. Nothing could be further from the truth. The corner store that hires 20 people is far more important to a community than anything Washington could ever do. But, Washington does not want local citizens to realize this.

PAUL CRAIG ROBERTS of CounterPunch states:

“Last June 5  I pointed out that according to the Office of the Comptroller of the Currency’s fourth quarter report for 2011, about 95% of the $230 trillion in US derivative exposure was held by four US financial institutions: JP Morgan Chase Bank, Bank of America, Citibank, and Goldman Sachs.

With the repeal of Glass-Steagall these honest commercial banks became gambling casinos, like the investment bank, Goldman Sachs, betting not only their own money but also depositors money on uncovered bets on interest rates, currency exchange rates, mortgages, and prices of commodities and equities.

These bets soon exceeded many times not only US GDP but world GDP.  Indeed, the gambling bets of JP Morgan Chase Bank alone are equal to world Gross Domestic Product.

The hoax is the propaganda that the fiscal cliff can be avoided by reneging on promised Social Security and Medicare benefits that people have paid for with the payroll tax and by cutting back all aspects of the social safety net from food stamps to unemployment benefits to Medicaid, to housing subsidies. The right-wing has been trying to get rid of the social safety net ever since Franklin D. Roosevelt constructed it, out of fear or compassion or both, during the Great Depression.”

The Election is Over: How is that Fair Share Scam Working for You Mr President

How is that Fair Share Scam Working for You Mr President

fair share scamThrough all of the 2008 and 2012 campaign Mr. Obama continuously chanted about how the rich need to pay their “fair share.” Back at the ranch the proof came in that not only did the rich pay their fair share, but that they paid your fair share as well, to the tune of 30% by the one percenters and 60% by the top 10% wealthiest in the nation. In fact the top 53% of US taxpayers pay 100% of the tax revenue. There is no 99%. it doesn’t exist.

But wait, there’s more!

Not only did an Obama report show how the rich pay all the taxes, but the report showed conclusively since Kennedy, that lowering tax rates increases federal revenue. That bears repeating. A Whitehouse report showed that lower taxes brings in more money to the government.

Before you jump to conclusions that Mr. Obama did not see the report, he did. He signed every page of the report, and read it, and went over it with Timmy Geithner.

The Coming Obama Created Economic Depression

No one likes to say it, but the 2008 economic situation was an actual depression. The federal reserve pumped so much money into the economy, that it created a top heavy situation that stopped the very large firms from crashing. That does not mean though, that the rest of the nation was not in a depression. We were and probably still are, if you can find honest numbers on unemployment and business closure.

But, fast forward to 2013. Obamacare and his raising of taxes, even for the 99%, is setting the stage for a knock out punch. A real depression is coming. Thousands of jobs, in a market that has already lost millions of jobs, are prepped to be lost. Some top firms have already pledged to lay off thousands this year.

Couple Obamacare with higher payroll taxes and small firms will be lost. The end result is that, while large firms will feel the pinch on their bottom line and get rid of thousands of jobs, they’ll gobble up smaller firms that flounder. They’ll find themselves in a position  to be able to get into markets that they were never in before, and at a very cheap price, since small firms will be worth pennies on the dollar.

Conspiracies aside, it doesn’t take a genius to figure out that, regardless of intent, Obamacare and his pro-higher-taxes stance will destroy this country.

The Unemployment Scam and GDP

The Unemployment Scam and GDP

Obama Oops
Obama Oops

The nation’s economy unexpectedly shrank by 0.1 percent in the fourth quarter of 2012, casting fresh doubt on the strength of the economic recovery. The new estimate of gross domestic product (GDP) from the Commerce Department marks the first time the economy shrank since it was in the depths of the recession in mid-2009.

This is not news for anyone paying attention. Unemployment fell an entire 1% twice in the 4th quarter? yet ony 200,000 jobs were allegedly gained? NO! 400,000 people fell off the unemployment rrecords and out of the labor pool. There was no turn around in the economy. There are now over 25 million people out of the labor pool by my calculations. This doesn’t even include the under-employed. This notion of rebounding economy is bogus.

You cannot have actual growth with upwards of 15%-20% [real numbers] of the US being unemployed. They cannot buy goods and services. They cannot pay state, local and federal taxes. They cannot pay indirect taxes via tariffs and excise taxes. You cannot grow the economy with unemployed people.

For the past 4 years, the beltway has put out bogus labor numbers and fixing their books to show GDP expanding. They had the GDP expanding when we were still losing 500,000 jobs each month. People are just not paying attention. It’s as iff Berny Madoff is in the white house.