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Infowars

On Borrowed Time: “They’re Going to Turn the Blame Directly on You”

borrowed-timeIf you regularly follow establishment media and you’ve fallen for the notion that the stock market is the primary measure for economic health in this country, then you probably also believe that the recovery has taken hold, that the economy is growing, and that our elected officials have done a great job dealing with the crisis.

Never mind the record job losses or the over 100 million Americans who depend on a government distribution in some form to make ends meet. Officials in political and financial spheres, through their manipulated job statistics and financial market intervention, have convinced the majority of people that things are actually getting better.

But just because the Dow Jones has hit all time highs doesn’t necessarily mean we’re back to boom times again. In fact, as Charlie McGrath of Wide Awake News notes, the situation is exactly the opposite of what it appears to be. We’re already seeing cracks in financial markets as evidenced by the destruction of long-time American staple retailers like JC Penny and Sears. And this week Best Buy announced very disappointing holiday sales results, which led to an almost immediate collapse in its stock price of nearly 30%.

But despite the overwhelming signs that consumers are tapped out, the stock market shook it off like nothing happened.

To mainstream pundits this was a sign of the tenacity and strength of the American economy. To those who get it, this was just more confirmation that the entire system as it exists today is being manipulated on all fronts.

They’re saying that we’re recovering. They’re saying that Dow Jones 16,000, that Dow Jones 20,000 equals success on Main Street. In the meantime, The war on poverty just reached a new fifty year low. The war on unemployment, the war on fixing an economic crisis brought to you by a bunch of bankers that started in 2008 to present, that has been an abject failure on every front when it matters to Main Street… that war is being sold as a success.

So you’d better understand what that means. The days of easy cheap bailout money, the days of easy cheap papering over the depression money in the form of social safety nets… you better rest assured of one thing…

You are on borrowed time. You are on borrowed time for the kind, caring government that is lulling a populace into servitude with these handouts.

Because they’re gonna stop doing it, and when they do they’re going to turn the blame directly on you.


(via Wide Awake News)

What does this all lead to?

A total dismantling of free market principles… a free market under attack around this planet will lead to an overt totalitarian society… that is the path we’ve been set on.

A path that leads to government having more solution, that leads to more failure, that leads to more crisis, that leads to more solution… a self feeding beast that turns a once representative government into a totalitarian juggernaut.

This is what we’re facing in this country… The IMF came out and said the planet is facing a 1930′s style default.

…this is all by design. We are heading towards a total in which the crime for standing up for yourself will be met with the heavy boot of tyrannical government.

It isn’t all hunky-dory. We’re not heading down the path to rainbows and lollipops because the Dow Jones says 16,000.

We need to use these indices as what they are… a true measure… a reverse of what is truly going on on Main Street. The higher the Dow goes, the more the bank stocks, the more the suffering on Main Street continues to expand.

When the system finally buckles – and it will – who do you think is going to get the blame?

The answer is quite simple. It’s going to be those people who planned ahead.

  • Did you stock up on food and other supplies ahead of time while Americans are starving in the streets? Then you are a socially selfish individual and you’re personal property will need to be seized and distributed for the greater good. In fact, a recent Executive Order gives the President authorization to do just that.
  • Did you purchase silver or gold as a hedge against inflation or fear that our monetary system would collapse? Then you are to blame for undermining our national currency.
  • Do you have a retirement account like a 401K or IRA while other Americans have to depend on paltry government assistance checks to survive? Then you are the problem because you haven’t shared your wealth. Congressional members have already discussed turning your personal savings into government managed plans much like Obamacare.
  • Do you often discuss free market principles like the elimination of income taxes or letting large institutions fail when they mismanage their company operations? Then your ideas are to blame.

This is how totalitarian governments operate and when it hits the fan ours will be left with no other option (save being dismantled) than to create scapegoats.

Guess who’s going to be first on the red list


SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

Going Under: Over One Million Lose Unemployment Benefits – Will Hit Five Million By End of 2014

Sinking Economy

Earlier this year government benefits for nutritional assistance were reduced after the expiration of emergency legislation that was enacted following the 2008 financial collapse. Nearly all of the 48 million people receiving food stamp distributions were affected. The move led to warnings from food pantries and recipients around the country who said that the $ 40 billion in cuts would leave many American families without the ability to put food on dinner tables across America. According to Feed America, the roughly $ 29 per family that would no longer appear on their EBT cards will amount to about 1.5 billion meals in 2014.

But that was just the beginning.

Because the government now claims that we are in a period of economic growth we will see more cuts to emergency assistance over the course of the next year.

And it starts today.

As of midnight Saturday some 1.3 million Americans who lost their jobs in the last two years and were left with no choice but to collect unemployment benefits due to the worst jobs market since the Great Depression have now seen their benefits expire.

Long-term unemployment benefits for 1.3 million Americans expired Saturday after Congress failed to pass an extension. Reinstating those benefits is expected to be one of the first priorities for congressional Democrats in the new year.

“Extending unemployment insurance is the right thing to do for millions of Americans who are trying to support their families,” Democratic National Committee chairwoman and Florida Rep. Debbie Wasserman Schultz said in a statement Saturday. “What makes matters worse, the loss of benefits comes just a few days after the holidays.”

CNN

This morning, the President placed separate telephone calls to Senator Jack Reed and Senator Dean Heller to offer his support for their proposal to extend emergency unemployment benefits for three months,” White House Principal Deputy Press Secretary Josh Earnest said in a statement.

“The President said his administration would, as it has for several weeks now, push Congress to act promptly and in bipartisan fashion to address this urgent economic priority.”

Obama says the abrupt cut-off in cash assistance during the holidays will hurt economic growth and jobs.

Fox News

Here’s the kicker. By the end of 2014 the number of Americans who will lose access to long-term unemployment benefits will be five times higher:

By July, another 1.9 million people will get the boot from extended benefits. By the end of 2014, 1.6 million more will be kicked off, totaling about 5 million Americans.

Bloomberg

Five millions Americans will be losing access to what essentially amounts to their paycheck. And we’re not talking about a $ 29 cut to food stamps. We’re talking about a mortgage payment, a healthcare payment, and funds to pay for essential utilities.

All of it will be vaporized by the end of the year. This will affect not just those five million people, but their dependents as well, which amounts to at least an additional 5 – 10 million people.

Congress and the President propose to extend these benefits for another three months, and most would suggest that this will avert the emergency.

That notion is laughable.

What happens after we kick the can down the road for another three months? Will President Obama somehow magically create 1.3 million shovel-ready jobs?

The problem is that there are no meaningful jobs available. So you can extend these benefits for six months, or even two more years, and we’ll be right back where we started once they expire – perhaps even worse off as prices for everything from food to utilities to health care rise unabated.

When a DHS Insider warned recently of a crisis of unprecedented magnitude within the United States he noted that we are in the midst of a long-term economic collapse.

Given what is transpiring around us, can anyone honestly say that our economy is actually recovering?

President Obama claims that failing to extend the unemployment benefits for these 1.3 million people will hurt economic growth and jobs. He has just broadcast the severity of the situation we face.

It should be clear that without government intervention and backroom machinations the entire system will come unglued. Stocks would crash, millions would be starving in the streets, and the violence that the Department of Homeland Security and US military have been preparing for would take hold across the streets of America.

That may sound sensational, but consider that just one week ahead of the cut to food stamp benefits of $ 29 per family the Department of Homeland Security spent $ 80 million to beef up security in New York City with the expectation that those who lost their benefits would start rioting. They know that we are rapidly approaching a breaking point, otherwise why would they be preparing for it?

The government has no choice but to keep pumping out money and emergency assistance, whether that be to people who have lost their jobs or the banks that provide the lending. The second (literally) that they pull back on the monetary, financial and economic intervention we will see a catastrophe that few can imagine.

It’s coming.

If you’re paying attention you can’t go a day without seeing the signs.

The only question is: Are you prepared for when it happens?

 

Related:

Unemployment Prepping – What You Can Do Beforehand (Ready Nutrition)

52 Weeks to Preparedness (Free Comprehensive Guide)

The Pantry Primer (The Organic Prepper)


SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

The Taper Is On – 8 Ways That This Is Going To Affect You And Your Family

Janet-Yellen-Ben-Bernanke-Swearing-InThe unelected central planners at the Federal Reserve have decided that the time has come to slightly taper the amount of quantitative easing that it has been doing.  On Wednesday, the Fed announced that monthly purchases of U.S. Treasury bonds will be reduced from $ 45 billion to $ 40 billion, and monthly purchases of mortgage-backed securities will be reduced from $ 35 billion to $ 30 billion.  When this news came out, it sent shockwaves through financial markets all over the planet.  But the truth is that not that much has really changed.  The Federal Reserve will still be recklessly creating gigantic mountains of new money out of thin air and massively intervening in the financial marketplace.  It will just be slightly less than before.  However, this very well could represent a very important psychological turning point for investors.  It is a signal that “the party is starting to end” and that the great bull market of the past four years is drawing to a close.  So what is all of this going to mean for average Americans?  The following are 8 ways that “the taper” is going to affect you and your family…

1. Interest Rates Are Going To Go Up

Following the announcement on Wednesday, the yield on 10 year U.S. Treasuries went up to 2.89% and even CNBC admitted that the taper is a “bad omen for bonds“.  Thousands of other interest rates in our economy are directly affected by the 10 year rate, and so if that number climbs above 3 percent and stays there, that is going to be a sign that a significant slowdown of economic activity is ahead.

2. Home Sales Are Likely Going To Go Down

Mortgage rates are heavily influenced by the yield on 10 year U.S. Treasuries.  Because the yield on 10 year U.S. Treasuries is now substantially higher than it was earlier this year, mortgage rates have also gone up.  That is one of the reasons why the number of mortgage applications just hit a new 13 year low.  And now if rates go even higher that is going to tighten things up even more.  If your job is related to the housing industry in any way, you should be extremely concerned about what is coming in 2014.

3. Your Stocks Are Going To Go Down

Yes, I know that stocks skyrocketed today.  The Dow closed at a new all-time record high, and I can’t really provide any rational explanation for why that happened.  When the announcement was originally made, stocks initially sold off.  But then they rebounded in a huge way and the Dow ended up close to 300 points.

A few months ago, when Fed Chairman Ben Bernanke just hinted that a taper might be coming soon, stocks fell like a rock.  I have a feeling that the Fed orchestrated things this time around to make sure that the stock market would have a positive reaction to their news.  But of course I absolutely cannot prove this at all.  I hope someday we learn the truth about what actually happened on Wednesday afternoon.  I have a feeling that there was some direct intervention in the markets shortly after the announcement was made and then the momentum algorithms took over from there.

In any event, what we do know is that when QE1 ended stocks fell dramatically and the same thing happened when QE2 ended.  If you doubt this, just check out this chart.

Of course QE3 is not being ended, but this tapering sends a signal to investors that the days of “easy money” are over and that we have reached the peak of the market.

And if you are at the peak of the market, what is the logical thing to do?

Sell, sell, sell.

But in order to sell, you are going to need to have buyers.

And who is going to want to buy stocks when there is no upside left?

4. The Money In Your Bank Account Is Constantly Being Devalued

When a new dollar is created, the value of each existing dollar that you hold goes down.  And thanks to the Federal Reserve, the pace of money creation in this country has gone exponential in recent years.  Just check out what has been happening to M1.  It has nearly doubled since the financial crisis of 2008…

M1 Money Supply 2013

The Federal Reserve has been behaving like the Weimar Republic, and this tapering does not change that very much.  Even with this tapering, the Fed is still going to be creating money out of thin air at an absolutely insane rate.

And for those that insist that what the Federal Reserve is doing is “working”, it is important to remember that the crazy money printing that the Weimar Republic did worked for them for a little while toobefore ending in complete and utter disaster.

5. Quantitative Easing Has Been Causing The Cost Of Living To Rise

The Federal Reserve insists that we are in a time of “low inflation”, but anyone that goes to the grocery store or that pays bills on a regular basis knows what a lie that is.  The truth is that if the inflation rate was still calculated the same way that it was back when Jimmy Carter was president, the official rate of inflation would be somewhere between 8 and 10 percent today.

Most of the new money created by quantitative easing has ended up in the hands of the very wealthy, and it is in the things that the very wealthy buy that we are seeing the most inflation.  As one CNBC article recently stated, we are seeing absolutely rampant inflation in “stocks and bonds and art and Ferraris and farmland“.

6. Quantitative Easing Did Not Reduce Unemployment And Tapering Won’t Either

The Federal Reserve actually first began engaging in quantitative easing back in late 2008.  As you can see from the chart below, the percentage of Americans that are actually working is lower today than it was back then…

Employment-Population Ratio 2013

The mainstream media continues to insist that quantitative easing was all about “stimulating the economy” and that it is now okay to cut back on quantitative easing because “unemployment has gone down”.  Hopefully you can see that what the mainstream media has been telling you has been a massive lie.  According to the government’s own numbers, the percentage of Americans with a job has stayed at a remarkably depressed level since the end of 2010.  Anyone that tries to tell you that we have had an “employment recovery” is either very ignorant or is flat out lying to you.

7. The Rest Of The World Is Going To Continue To Lose Faith In Our Financial System

Everyone else around the world has been watching the Federal Reserve recklessly create hundreds of billions of dollars out of thin air and use itto monetize staggering amounts of government debt.  They have been warning us to stop doing this, but the Fed has been slow to listen.

The greatest damage that quantitative easing has been causing to our economy does not involve the short-term effects that most people focus on.  Rather, the greatest damage that quantitative easing has been causing to our economy is the fact that it is destroying worldwide faith in the U.S. dollar and in U.S. debt.

Right now, far more U.S. dollars are used outside the country than inside the country.  The rest of the world uses U.S. dollars to trade with one another, and major exporting nations stockpile massive amounts of our dollars and our debt.

We desperately need the rest of the world to keep playing our game, because we have become very dependent on getting super cheap exports from them and we have become very dependent on them lending us trillions of our own dollars back to us.

If the rest of the world decides to move away from the U.S. dollar and U.S. debt because of the incredibly reckless behavior of the Federal Reserve, we are going to be in a massive amount of trouble.  Our current economic prosperity greatly depends upon everyone else using our dollars as the reserve currency of the world and lending trillions of dollars back to us at ultra-low interest rates.

And there are signs that this is already starting to happen.  In fact, China recently announced that they are going to quit stockpiling more U.S. dollars.  This is one of the reasons why the Fed felt forced to do something on Wednesday.

But what the Fed did was not nearly enough.  It is still going to be creating $ 75 billion out of thin air every single month, and the rest of the world is going to continue to lose more faith in our system the longer this continues.

8. The Economy As A Whole Is Going To Continue To Get Even Worse

Despite more than four years of unprecedented money printing by the Federal Reserve, the overall U.S. economy has continued to decline.  If you doubt this, please see my previous article entitled “37 Reasons Why ‘The Economic Recovery Of 2013′ Is A Giant Lie“.

And no matter what the Fed does now, our decline will continue.  The tragic downfall of small cities such as Salisbury, North Carolina are perfect examples of what is happening to our country as a whole…

During the three-year period ending in 2009, Salisbury’s poverty rate of 16% was about 3% higher than the national rate. In the following three-year period between 2010 and 2012, the city’s poverty rate was approaching 30%. Salisbury has traditionally relied heavily on the manufacturing sector, particularly textiles and fabrics. In recent decades, however, manufacturing activity has declined significantly and continues to do so. Between 2010 and 2012, manufacturing jobs in Salisbury — as a percent of the workforce — shrank from 15.5% to 8.3%.

But the truth is that you don’t have to travel far to see evidence of our economic demise for yourself.  All you have to do is to go down to the local shopping mall.  Sears has experienced sales declines for 27 quarters in a row, and at this point Sears is a dead man walking.  The following is from a recent article by Wolf Richter

The market share of Sears – including K-Mart – has dropped to 2% in 2013 from 2.9% in 2005. Sales have declined for years. The company lost money in fiscal 2012 and 2013. Unless a miracle happens, and they don’t happen very often in retail, it will lose a ton in fiscal 2014, ending in January: for the first three quarters, it’s $ 1 billion in the hole.

Despite that glorious track record, and no discernible turnaround, the junk-rated company has had no trouble hoodwinking lenders into handing it a $ 1 billion loan that matures in 2018, to pay off an older loan that would have matured two years earlier.

And J.C. Penney is suffering a similar fate.  According to Richter, the company has lost a staggering 1.6 billion dollars over the course of the last year…

Then there’s J.C. Penney. Sales plunged 27% over the last three years. It lost over $ 1.6 billion over the last four quarters. It installed a revolving door for CEOs. It desperately needed to raise capital; it was bleeding cash, and its suppliers and landlords had already bitten their fingernails to the quick. So the latest new CEO, namely its former old CEO Myron Ullman, set out to extract more money from the system, borrowing $ 1.75 billion and raising $ 785 million in a stock sale at the end of September that became infamous the day he pulled it off.

So don’t believe the hype.

The economy is getting worse, not better.

Quantitative easing did not “rescue the economy”, but it sure has made our long-term problems a whole lot worse.

And this “tapering” is not a sign of better things to come.  Rather, it is a sign that the bubble of false prosperity that we have been enjoying for the past few years is beginning to end

Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years. Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream. If you want to know what things in America are going to look like in a few years read his new book The Beginning of the End.


SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

Please pray for Billy Graham, who seems close to going home to be with the Lord.

Billy Graham is pictured during a celebration for his 95th birthday in Asheville, North Carolina, in this November 7, 2013 handout photo provided by the Billy Graham Evangelistic Association (Reuters)

Billy Graham is pictured during a celebration for his 95th birthday in Asheville, North Carolina, in this November 7, 2013 handout photo provided by the Billy Graham Evangelistic Association (Reuters)

(Washington, D.C.) — Please join me in praying for Dr. Billy Graham, who at the age of 95, appears to fading and ready to go home to be with the Lord. Please also pray for his family and staff at this challenging and emotional time.

“Franklin Graham, son of the Rev. Billy Graham and president of his evangelistic association, gave an update on the minister’s health to The Christian Post this week, stating that while the elder Graham was not in any immediate danger, a simple cold could turn the tide,” reported the Christian Post. “Meanwhile, Will Graham, the elder evangelist’s grandson, has said he believes the 95-year-old Southern Baptist preacher was ready to ‘go home’ to be with the Lord.”

“He’s not doing real well,” Franklin Graham told The Christian Post on Thursday. “His vitals are good. It’s not like he’s in danger right this second. But if he got a cold right now, it could be deadly. So I just ask the people to pray that he gets his strength back. I’ve never seen him this weak in all my life, so I know he’d appreciate your prayers.”

“The BGEA president’s son, evangelist Will Graham, made similar remarks the day prior during a speaking engagement at a California church,” noted the Post.

“I saw my grandfather last week and he is not doing well,” Will Graham told Assist News Service. “He’s not suffering or anything. It’s just that old age has caught up to him and is sucking the life out of him.”

He added, “On November 7, he finished his race and up until that time, God had protected his health and gave him supernatural strength and now, the only thing left is for him to come home. God has removed his hand of protection and old age has set in.”

The Post added that when asked how supporters could pray for his grandfather, Will Graham did not sound very optimistic: “I don’t know how to answer that anymore. I wish He would give him strength, but I don’t think he needs strength anymore. It’s time to go home.”


Joel C. Rosenberg’s Blog