Yes, yes, yes….I AM paying attention but am busy working on the rabbit hole story. For those sending emails with links…keep them coming, and for those that need to know about something other than the Obama/Boehner golf game, Bachmann and glitter, and Jon Stewart – hit the links below: (more…)
This is one of those important shows that Glenn does packed with inflation information, numbers, and great visuals, about the devaluation of the dollar and the economic collapse that is coming due to the debt and deficit. One of the best pieces of advice that Glenn has for people living in large cities is what we have been saying for 18 months now; if you live in a city, have an escape plan for getting out into the country once the general populace starts rioting. You will not want to be caged like rats. Glenn closes out this program with the ‘Day of Rage’ (Part 3, 9:15) that has been called for in America on March 12th by the Day Of Rage(America), who apparently does not yet have very many followers on Facebook. Whether these ‘useful idiots’ (or tools of the globalists as I like to call them) start their shenanigans on March 12th or later, be prepared, because their stupidity is coming.
Mark Levin: GE is Obama’s Haliburton
Mark Levin – Their real target is the middle class
For those that haven’t seen Gerald’s interview a few days ago, here is an interview that covers the ‘Greatest Depression’ that is headed our way since the ponzi scheme of fiat currency and debt is about to implode. He also covers how cyber-wars are going to increase because of the shrinking money pool, how being a ‘cyber-sleuth’ is a career path that will flourish, and how governments will begin cracking down on the internet.
Here are just a few examples.
From CNBC and Reuters:
Moody’s warned Monday that it could move a step closer to cutting the U.S. Aaa rating if President Obama’s tax and unemployment benefit package becomes law.
The plan agreed to by President Obama and Republican leaders last week could push up debt levels, increasing the likelihood of a negative outlook on the United States rating in the coming two years, the ratings agency said.
A negative outlook, if adopted, would make a rating cut more likely over the following 12-to-18 months.
For the United States, a loss of the top Aaa rating, reduce the appeal of U.S. Treasuries, which currently rank as among the world’s safest investments.
“From a credit perspective, the negative effects on government finance are likely to outweigh the positive effects of higher economic growth,” Moody’s analyst Steven Hess said in a report sent late on Sunday.
After Obama announced his plan, Treasury prices fell sharply in volatile trade last week and yields have hit a six-month high, in part due to concerns over the effect the package will have on government debt levels.
If the bill becomes law, it will “adversely affect the federal government budget deficit and debt level,” Moody’s said.
Ben Bernanke and the Fed’s chickens are coming home to roost and guess who is going to be paying the price? Not them…
Got Rice, Beans, Tobacco, Ammo, Guns, Gold, and Silver yet?
Socialism has a 100% failure rate; why is Europe turning away from socialism yet America is running toward it? Glenn lists off very important dates throughout the year and what these dates to mean to us and to Congress; April 15th (budget deadline), November 2nd (midterm elections), December 31st (Bush tax cuts expire) putting the upcoming republican controlled congress into a ‘damned if you, damned if you don’t” situation. Glenn also covers the raising of the ‘debt ceiling’ (Congress’ credit card) from $11.3 Trillion to $14.9 Trillion, and the decision the republican congress will have to make in March, 2011 when it comes to raising the debt ceiling yet again.
I found this deficit chart over at WND on a related story about the Declaration Of Healthcare Independence penned by Michele Bachmann (R-MN). You may want to copy this chart from Congressional Quarterly Today, and send it near and far…
If you would like to sign the Declaration and add your voice to 100 congressmen and thousands of Americans, go here.
The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation.
Mr Hoenig said that rising debt was infringing on the central bank’s ability to fulfil its goals of maintaining price stability and long-term economic growth. “Stunning” deficit projections were putting political pressure on the Fed to keep interest rates low, infringing on its independence at the risk of inflation, he said.
“Without pre-emptive action, the US risks its next crisis,” Mr Hoenig said in a speech at the Pew-Peterson Commission on Budget Reform.
He was the only Fed member who dissented at last month’s meeting against language indicating that interest rates should remain near zero for an “extended period”.
On Tuesday he said that the worst option for the US was a scenario where the government “knocks on the central bank’s door” and asks it to print more money. Instead, the administration must find ways to cut spending and generate revenue. He called for a “reallocation of resources” and noted that the process would be painful and politically inconvenient.
The US budget deficit is projected to be $8,000bn (€5,800bn, £5,000bn) in the next decade. Barack Obama, US president, recently lifted the government’s borrowing authority to $14,300bn.
If the Fed succumbed to pressure to increase the money supply, Mr Hoenig said, inflation would lead to a loss of confidence in the dollar and in the economy. Meanwhile, a potential stalemate between the fiscal and monetary authorities that govern the economy could allow growing imbalances to go unchecked, thus raising the costs of borrowing and of capital for the US.
Congress just raised the debt ceiling almost $2 Trillion to somewhere around $14.4 TRILLION. Barack Obama is about to “unveil” his 2011 budget. No surprise that it is another $3,800,000,000,000.00 ($3.8 Trillion), because this ZERO just loves looking at himself. My head is about to explode from the recklessness and chaos coming out of the Executive Branch. ARE YOU FREAKIN KIDDING ME?
As President Obama prepares to unveil his $3.8 trillion budget for fiscal year 2011, which begins Oct. 1, the White House is projecting the current fiscal year will end with a $1.6 trillion deficit, congressional sources confirmed to Fox News.
Next year’s budget will have a nearly $1.3 trillion debt, according to those sources, dropping to just over half that — $700 billion in fiscal year 2013 — before jumping back up to $1 trillion in 2020, the furthest out that budgeters will predict.
A $1.6 trillion deficit would represent more than 10 percent of the gross domestic product, but the White House says over the next 10 years, the average deficit will represent only 4.5 percent of GDP annually. Last year’s deficit was $1.42 trillion.
The numbers come as the president and congressional Democrats have pivoted from preparing a $1 trillion health care proposal to focusing on jobs and the deficit. Speaking at the State of the Union last week, Obama told a joint session of Congress that he wants to freeze spending — beginning in 2012 — on discretionary spending except the military, veterans and homeland security. The president said that would save $250 billion over 10 years.
“There’s a three-year discretionary spending freeze and that is to say there is a three-year cap on domestic discretionary spending,” said Obama senior adviser David Axelrod on CNN. “Within that cap we’re going to have to prioritize just like every business or every family would, so we’re going to have to do away with the things that we don’t need in order to pay for the things that we do.”
Too bad David, the Chicago Hack, does not give the whole story.
I am happy to hear that we are finally going to get some discipline on spending, but Greta, remember, these programs that he is talking about freezing for three years, over the last 18 months, the average increase in spending for these agencies has been over 50%. So even if you freeze their spending for 3 years, they are so ahead of the game because they got huge appropriations last year and the year before, and on top of that, they got that massive amount of stimulus spending.
Let’s get back to the leaderless government.
“We don’t expect this is going to be easy,” Fox Business Network reported White House Communications Director Dan Pfeiffer saying. Pfeiffer added that the White House proposed cuts last year but Congress funded programs anyway.
But keeping budget deficits where they are currently projected will happen only if tax cuts passed in 2001 and 2003 expire as scheduled at the end of this year. The White House calculates tax hikes would generate $1.2 trillion in revenue over 10 years.
“We just did an 84 percent increase in a very short period of time of all this new spending. Democrats, since they took over Congress, increased domestic discretionary spending by $1.4 trillion,” Rep. Paul Ryan, R-Wis., said on “Fox News Sunday.”
“We don’t think taking all this money out of the private economy up to Washington and spending it through Washington is the way to create jobs. We believe we should keep that money in the economy,” Ryan added.
Congressional sources say Obama’s new budget will propose extending the popular middle-class tax breaks of $400 per individual and $800 per couple through 2011. They were due to expire after this year.
What good does this bribe do when one is unemployed or facing imminent unemployment because the company you work for is going under due to policies being implemented by the OBAMA CHAOS ADMINISTRATION?
(Editor’s note: I am desperately trying to find a clip from Greta and Steve Moore in the last week talking about Congress raising the debt ceiling. 1.28 or 1.29.2010 If anyone has this clip, please let me know in comments or on the contact page. Very Important!)
Meg Whitman, former CEO of Ebay being interviewed by Neil Cavuto on ‘Your World’ about government spending and her campaign for governor of California.
And yes, Robert Gibbs is an idiot – he doesn’t just play one on TV.