Sunday Talking Heads On The Obama Depression and Mass Exodus From White House–Videos

Posted on October 10, 2010. Filed under: Blogroll, College, Communications, Culture, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Immigration, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Regulations, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , |

Interview With Christine Lagarde

Fox News Sunday Part 1 – Erick Cantor VS The Wicked Witch

Fox News Sunday Part 2 – Erick Cantor VS The Wicked Witch

 

Fox News Sunday Part 3 – The Sunday Panel

Fox News Sunday Part 4 – The Sunday Panel

 

Stimulus spending simply does not work.

Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Free Markets and Small Government Produce Prosperity

Eight Reasons Why Big Government Hurts Economic Growth

Yet the stimulus spending package is exactly what President Obama’s Keynesian economics advisors said would keep us under an 8% unemployment rate.

What needs to be done is cutting the size and scope of the Federal Government by closing 10 Federal Departments, going to a national retail sales consumption tax–the FairTax,  and limiting Federal Government spending to 80% of FairTax collections with the remaining 20% of FairTax collection going to pay down the National Debt.

Neither the Democratic nor Republican parties will do any of the above.

The time for a new political party is fast approaching.

The Republicans will gain control of both the House and Senate this November with 255 Republican  Representatives in the House and 51 Republican Senators in the Senate.

However, the Republicans lack the courage, political will and leadership to tell the American people the truth and do what is needed.

I suspect the Republicans will win the next two elections including the Presidency in 2012 and then proceed to replay Bush’s second term with a President such as Newt Gingrich.

If they do, they will never get another chance with the American people.

 

Related Posts On Pronk Palisades

Obama Depression: 20 Months Of Unemployment Over 8% For Official U-3 Rate and Over 15% For Total U-6 Rate–Over 26 Million Americans Looking For A Full Time Job and 41.8 Million On Food Stamps!–Followed By 36 More Months Of Over 8% Official Unemployment U-3 Rate and 15% Total Unemployment U-6 Rate!

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Obama Depression: 20 Months Of Unemployment Over 8% For Official U-3 Rate and Over 15% For Total U-6 Rate–Over 26 Million Americans Looking For A Full Time Job and 41.8 Million On Food Stamps!–Followed By 36 More Months Of Over 8% Official Unemployment U-3 Rate and 15% Total Unemployment U-6 Rate!

Posted on October 8, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, Immigration, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Regulations, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , , |

“Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.”

“True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.”

~Ludwig von Mises

Economy Sheds 95,000 Jobs; 14.8 Million out of Work

 

RECORD 41.8 MILLION PEOPLE ON FOOD STAMPS 9-15-2010

  

 

Sept 2010 Employment Report

 

U.S. Recovering Jobs But Pace Has Slowed, Analyst Says

 

Goolsbee Sees Need to Get ‘Job Engine’ Growing Faster: Video

 

“Traders will look at the U6 unemployment rate…on Friday”

President Obama on September, 2010 Jobs Numbers

Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression

 

The U.S. jobless ” recovery” continues and is getting worse.

While the official unemployment rate of 9.6% as measured by U-3  did not go up in September, the real total unemployment rate went from 16.7% in August to 17.1% in September 2010.

The official unemployment level is currently at 14,767,000 unemployed Americans and exceeds the 13 million unemployed during the worse year of the Great Depression, 1933.

The total unemployment level calculated as 17.1% of the civilian labor force of about 154,158,000 is over 26 million, twice the number of unemployed during the worse year of the Great Depression, 1933.   

The Obama Depression is not over or  improving but is in fact getting worse.

The Keynesian economics recipe for economic disaster of more and more stimulus spending, larger and larger budgetary deficits, financed by layer upon layer of government debt has been a big failure.

A failure made even worse by the Federal Reserves’ quantitative easing monetary policy of monetization of the debt by “printing” more and more money in exchange for the Federal Government’s debt.

Neither the fiscal policy of stimulus spending nor the monetary policy of quantitative easing will create more jobs.

 Obama’s economic policies  only increase the belief among consumers and business owners that the Federal Government is completely out-of-control.

Only when President Obama’s economic policies are reversed and the current regime in Congress and the President are votedout of office will you finally see job creation and low  full employment rates of 2%% to 3% This will take not months but at least five years.

Dixion Says Fed Quantitative Easing Won’t Create New Jobs

http://www.youtube.com/watch?v=85Olz2h6ehM

The immediate result of the Federal Reserve’s monetary policy is the devaluing of the dollar

The Federal Reserve’s policy is a massive tax increase on all Americans as the purchasing power of their money declines daily.

This will only mean higher prices for all imports including petroleum and the costs of all goods and services to the extent they require imported goods and services such as petroleum.

Ron Paul vs. Ben Bernanke

Peter Schiff–Dollar Collaspse–Gold As A Hedge Against The Fed’s Committment To Raise Inflation

 

Who reappointed The Federal Reserve Chairman, Ben Bernanke,–President Barack Obama.

Ron Paul : We Can’t Say Cut Spending For Food Stamps But NOT For The Military Industrial Complex!

http://www.youtube.com/watch?v=whfopF8Xj8I

 

 

 

All Labor and Unemployment Statistics Are From

The Department of Labor, Bureau of Labor Statistics

http://data.bls.gov/cgi-bin/surveymost?ln

 

As Of October 2010

The Numbers In Red Are For The Obama Administration  

U-3

Series Id: LNS14000000
Seasonally Adjusted
Series title: (Seas) Unemployment Rate
Labor force status: Unemployment rate
Type of data: Percent or rate
Age: 16 years and over

 Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9  
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7  
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0  
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7  
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4  
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9  
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4  
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0  
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4  
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0  
2010 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6 9.6        

U-6

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 8.0  
2007 8.3 8.1 8.0 8.2 8.2 8.2 8.3 8.5 8.4 8.4 8.5 8.8  
2008 9.1 8.9 9.0 9.2 9.7 10.0 10.5 10.9 11.2 11.9 12.8 13.7  
2009 14.0 15.0 15.6 15.8 16.4 16.5 16.4 16.8 17.0 17.4 17.2 17.3  
2010 16.5 16.8 16.9 17.1 16.6 16.5 16.5 16.7 17.1        

 

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634  
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258  
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640  
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317  
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934  
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279  
2006 7059 7185 7075 7122 6977 6998 7154 7097 6853 6728 6883 6784  
2007 7085 6898 6725 6845 6765 6966 7113 7096 7200 7273 7284 7696  
2008 7628 7435 7793 7631 8397 8560 8895 9509 9569 10172 10617 11400  
2009 11919 12714 13310 13816 14518 14721 14534 14993 15159 15612 15340 15267  
2010 14837 14871 15005 15260 14973 14623 14599 14860 14767        

 

 In order to reduce the U.S. official  unemployment rate by .1% in a single month requires the creation of  between 250,000 and 300,000 jobs per month depending upon the number of new entrants into the labor market due to population growth and the labor participation rate or those seeking employment.

The labor participation rate goes down as an economy goes into a recession and goes up as the economy grows and prospers. The labor participation rate is currently  64.7%, well below the more normal range of 66% to 67.5% .

 A higher labor participation rate means more individuals are actively seeking full-time employment and more jobs need to be created each month to absorb both new entrants and re-entrants into the labor market.

This is the reason why between 250,000 and 300,000 jobs need to be created each month to reduce the unemployment rate just .1%.

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0  
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7  
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3  
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9  
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9  
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0  
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4  
2007 66.4 66.3 66.3 66.0 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0  
2008 66.2 66.0 66.1 66.0 66.2 66.1 66.0 66.1 66.0 66.0 65.8 65.8  
2009 65.7 65.7 65.6 65.8 65.8 65.7 65.4 65.4 65.1 65.0 64.9 64.6  
2010 64.7 64.8 64.9 65.2 65.0 64.7 64.6 64.7 64.7        

 

It takes at between 100,000 and 150,000 jobs to employ new entrants into the labor market mostly high school and college graduates.

 There are currently over 1.1 million new entrants into the labor force that have not found their first  job.

 

Series Id:                  LNS13023569
Seasonally Adjusted
Series title:               (Seas) Unemployment Level – New Entrants
Labor force status:         Unemployed
Type of data:               Number in thousands
Age:                        16 years and over
Unemployed entrant status:  New entrants

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 394 420 429 406 466 427 433 499 415 402 419 490  
2001 444 396 378 457 468 467 448 485 473 481 495 515  
2002 484 507 538 527 497 549 545 612 536 479 591 535  
2003 599 584 630 635 630 661 669 652 686 636 593 693  
2004 676 666 631 652 718 649 702 704 695 734 700 702  
2005 621 753 712 764 710 650 630 626 607 638 673 633  
2006 618 710 635 590 522 644 638 647 612 573 583 588  
2007 628 599 614 621 536 634 599 590 668 700 661 688  
2008 685 660 705 631 807 771 829 826 811 826 735 820  
2009 792 1016 881 919 977 969 994 1096 1134 1114 1270 1270  
2010 1235 1238 1197 1231 1206 1140 1188 1259 1187        

 

The unemployment rate for the young, ages 16 to 19, is 26%!

The unemployment rate for the young is currently nearly double the  usual unemployment rate for ages 16 to 19 of between 12% and 16% when the economy is growing. 

 

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate – 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2  
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0  
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9  
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2  
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6  
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9  
2006 15.2 15.3 16.1 14.6 14.0 15.7 15.9 16.1 16.3 15.2 14.9 14.7  
2007 14.8 14.9 14.9 15.6 15.9 16.2 15.3 16.0 16.0 15.5 16.2 16.9  
2008 17.8 16.5 16.0 15.6 18.9 19.0 20.8 18.9 19.3 20.3 20.3 20.8  
2009 20.9 21.8 22.0 21.8 23.2 24.3 24.5 25.7 26.1 27.6 26.8 27.1  
2010 26.4 25.0 26.1 25.4 26.4 25.7 26.1 26.3 26.0        

 

Both high school graduates and those who either dropped out or failed to graduate from high school are finding it very difficult to find their first job.

Illegal immigrants, mainly from Mexico and Latin America, of between 10 million to 20 million, has made it even more difficult for young inexperienced American citizens to find entry-level jobs.

Also the Federal  minimum hourly wage law prevents many small businesses from hiring young workers.

Good Intentions 2 of 3 Minimum Wage, Licensing, and Labor Laws with Walter Williams

 

 

Good Intentions 3 of 3 The Welfare System and Conclusions with Walter Williams

It currently takes between 100,000 and 150,000 new jobs in addition to the 100,000 to 150,000 jobs for new entrants to reduce the unemployment rate by .1%.

The civilian labor force is currently about 155 million.

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248  
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305  
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066  
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729  
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059  
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030  
2006 150201(1) 150629 150839 150915 151085 151368 151383 151729 151650 152020 152360 152698  
2007 153117(1) 152941 153093 152531 152717 153045 153039 152781 153393 153158 153767 153869  
2008 154048(1) 153600 153966 153936 154420 154327 154410 154696 154590 154849 154524 154587  
2009 154140(1) 154401 154164 154718 154956 154759 154351 154426 153927 153854 153720 153059  
2010 153170(1) 153512 153910 154715 154393 153741 153560 154110 154158        

Multiply the civilian labor force of  about 155 million by .1% and the result is 155,000.

This is approximate number of jobs that need to be created to reduce the unemployment rate by .1 with no growth in the labor force. 

When you add in the natural growth of the labor force by new entrants from population growth  you arrive at an estimate of between 250,000 to 300,000 new jobs that need to be created each month to reduce the unemployment rate by .1%.

In a robust  economic recovery the private sector should be creating 500,000 to 600,000 jobs per month.

Unfortunately, the private business sector and particularly  small and medium size businesses, are not creating anywhere near 250,000 to 300,000 per month.

In September the private sector created only a net total of 75,000 new jobs. This is far short of the 250,000 to 300,000 jobs needed to reduce the U-3 official unemployment rate by just .1%.

Even if 250,000 new jobs were being created each month and the unemployment rate declined 1.2% per year and over 3 million jobs were created in a year, it would take over five years to bring the official unemployment rate ( U-3) down to under a 3% rate of unemployment or a near full employment level.

The stimulus package of over $789 billion plus billions in interest payments was supposed to keep the unemployment rate under 8% and not above 8%!   

 

 

 

 

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/white-houses-stimulus-math-doesnt-add-up-100456089.html

The stimulus package has been an abject failure of the Keynesian economists including Romer and Berstein who advised Obama that this was what was needed.

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

 Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614  
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047  
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426  
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411  
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125  
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752  
2006 143142(1) 143444 143765 143794 144108 144370 144229 144631 144797 145292 145477 145914  
2007 146032(1) 146043 146368 145686 145952 146079 145926 145685 146193 145885 146483 146173  
2008 146421(1) 146165 146173 146306 146023 145768 145515 145187 145021 144677 143907 143188  
2009 142221(1) 141687 140854 140902 140438 140038 139817 139433 138768 138242 138381 137792  
2010 138333(1) 138641 138905 139455 139420 139119 138960 139250 139391        

President Bush’s Federal income tax rate cuts of 2001 and capital gains and interest rate cuts of 2003 worked and the negative impact on the economy of the September 11, 2001 Islamic Al-Qaeda Jihadist terrorist attack was mostly minimized and avoided.

However, President Bush failed to control Federal Government spending by not vetoing the massive Government spending increases of both the Republican controlled House and Senate in 2005 and 2006 and the Democratic controlled House and Senate in 2007 and 2008. 

President Obama followed the lead of President Bush and the Democratic controlled Congress by more than doubling the Federal budget deficits in 2009 and 2010. 

Dan Mitchell on the Deficit

Dan Mitchell discusses Reagonomics vs. Obamanomics

The result is the Obama Depression with more than twice the number of Americans looking for a full-time job  than the 13 million Americans that were unemployed in March, 1933, the worse month of the Great Depression.

President Obama is following in the footsteps of Presidents Herbert Hoover, Franklin D. Roosevelt, and George W. Bush by pursuing both the expansion of government with huge budgetary deficits (2009 was over $1,400 billion and 2010 is over 1,340 billion) and tax rate increases by letting the Bush tax rate cuts expire,  supporting a massive cap-and-trade energy tax and imposing a mandatory health care plan on Americans that they must purchase or pay a tax penalty.

Feldstein Predicts Dollar to Weaken, Boosting Exports: Video

News Update: CBO Deficit estimates

 

The result is the same–massive unemployment–over 26 million seeking a full-time job and 41.8 million Americans on food stamps.

My recommendation made  February 1, 2009 was to first have a six month  payroll tax holiday on payroll and capital gains taxes and at the end of the six month period switch from the current Federal income tax system to the FairTax, which is a national sales consumption tax on the sale of all new goods and services.

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! Revised and Updated

 

The FairTax would replace all Federal personal and corporate income taxes, payroll taxes, Social Security taxes, Medicare taxes, capital gains taxes, interest and dividend taxes, alternative minimum taxes, estate and gift taxes.

The FairTax requires the repeal the 16th Amendment that gave the Federal government the power to collect an income tax.

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

     

The FairTax is also progressive for it provides a prebate or check each month to every American to pay the sales tax on necessities of living such as food, clothing, housing, and energy (electricity and gasoline).

 Had the FairTax been implemented with a six month payroll and capital gains  tax  holiday, the unemployment rate would have been significantly below 8% by now and the economy growing at a rate above 5%. 

 

The FairTax: It’s Time

The recommended economic policy of cutting both Federal taxes and Federal Government spending and regulation had been tried and proved successful in the past when the United States entered the roaring twenties:

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

 

While the above economic policy recommendations would still work, it will never happen under the existing  ruling political class.

 Unfortunately, the political ruling class based in Washington, D.C., both Democrats and Republicans, vigorously opposed those proposing the FairTax.

 Comprehensive tax reform is opposed by the lobbyist and special interests on K Street in Washington D.C. who benefit from the  complicated Federal Income Tax.

Professional politicians of both political parties need the campaign contributions of these special interests and lobbyists to run for re-election.

The real problem is simply too much Federal Government spending.

The high levels of Federal Government spending is what is driving the need for new and higher  Federal taxation, every increasing borrowing to finance the deficits, and a reckless  expansionary credit and monetary policy.

The solution is to cut Federal government spending by eliminating entire Federal Departments, agencies and programs.

That is why I recommended that Federal Government spending be limited to 80% of FairTax collections with the  remaining 20% used to pay down the National Debt and fund entitlement (Social Security and Medicare) unfunded liabilities.

A Common Sense Political Agenda For A New Conservative and Libertarian Party: American Citizens Alliance Party (ACAP)–A CAP On Government Spending, Taxes, Debt and Regulations!

 

It’s Simple to Balance The Budget Without Higher Taxes

This solution is anathema to the progressive radical socialist of the Democratic Party led by President Obama.

Instead President Obama went with the failed economic policies of the Keynesian economists who always advocate more and more Federal Government spending, which is precisely what the progressive radical socialists want to impose on the American people.

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

  

As a direct  result of President Obama and the Democratic Party controlled Congress failure in cutting Federal Government spending, closing permanently many Federal Departments and agencies and ending hundreds of Federal Government programs, while  proposing even more and higher taxes,  more Americans are now  unemployed and seeking full-time employment than any time in the history of the United States.

 The number of unemployed are twice that of the Great Depression!

The U-3  official unemployment rate will remain above 8% and the U-6 total unemployment rate will remain above 15% for at least another 36 months.

By then the American people will vote President Obama out of office.

By then the American people will vote those Democratic and Republican Senators and Representatives who failed to institute deep and permanent cuts to the Federal budget, a balanced or surplus budget and the FairTax.

President Obama is a progressive radical socialist ideologue.

Obama wants to grow the size and scope of the Federal Government and use coercion and government intervention in the form of higher taxes and pervasive government regulation to redistribute wealth and limit consumer sovereignty and the liberties of the American people.

Paul Ryan on how to break the capital strike  

Krauthammer: “We Are Having A Capital Strike”

President Obama’s economic policies created massive economic uncertainty for consumers and businesses resulting in tens of millions of unemployed and underemployed Americans.

President Obama is a regime that must be changed if there is any hope for the tens of millions of unemployed Americans to find a full-time job.

On November 2, 2010 the American people will vote the Democrats out of office who were responsible for this economic disaster by massive government intervention into the economy and expansion of the size and scope of government.

Most Americans cannot wait to vote President Obama out of office in 2012.

Mr. President, you know  you are an economic illiterate.

Do the right thing Mr. President, resign for the good of the country and the American people.

Just think, Mr. President,  you will have more time to play golf, smoke and be with your family.

Everbody wins.

Good-Bye and Good Luck.

 

 

“Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individual’s life and the unrestricted supremacy of the government in its capacity as central board of production management.”

~Ludwig von Mises

Background Articles and Videos

 

Christina Romer explains a new report about job creation

The Job Impact of the American Recovery and Reinvestment Plan

By Christine Romer and Jared Bernstein

January 9, 2009

http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf

 

 Christie Romer: The Only Surefire Way for Policymakers to Substantially Increase Aggregate Demand in the Short Run Is for the Government to Spend More and Tax Less

“…In a report that Jared Bernstein and I issued during the transition, we estimated that by the end of 2010, a stimulus package like the Recovery Act would raise real GDP by about 3 1⁄2 percent and employment by about 31⁄2 million jobs, relative to what otherwise would have occurred. As the Council of Economic Advisers has documented in a series of reports to Congress, there is widespread agreement that the Act is broadly on track to meet these milestones…. What the Act hasn’t done is prevent unemployment from going above 8 percent, something else that Jared and I projected it would do. The reason that prediction was so far off is implicit in much of what I have been saying this afternoon. An estimate of what the economy will look like if a policy is adopted contains two components: a forecast of what would happen in the absence of the policy, and an estimate of the effect of the policy. As I’ve described, our estimates of the impact of the Recovery Act have proven quite accurate. But we, like virtually every other forecaster, failed to anticipate just how violent the recession would be in the absence of policy, and the degree to which the usual relationship between GDP and unemployment would break down.

By February 2009, before the Recovery Act was passed, unemployment was already over 8 percent; and by June, before the Recovery Act could have had much of an impact, it was 9 1⁄2 percent… our projection turned out to be wrong even before the Recovery Act had a chance to get off the ground, which is about as clear-cut evidence as one could imagine that the problem was in our assessment of the baseline, and not in the effects of the Act….

I certainly don’t regret having done the study. During the Transition, the little paper helped to build the case both internally and externally for a stimulus of unprecedented proportions. Only in retrospect does saying that our best guess was that unemployment would rise to 9 1⁄2 percent without aggressive action look rosy. At the time, it was scary as hell. It helped convince both our team and the Congress to go for as big a program as possible. And laying down a firm marker that the legislation had to save or create 3 1⁄2 million jobs helped prevent the package from shrinking greatly during Congressional negotiations….

The thing I do regret is that there is still so much unfinished business. I would give anything if unemployment really were down to 8 percent or lower…. That the economy remains as troubled as it is despite aggressive action reflects the fact that this has not been a normal recession. Just as the downturn was uncharted territory, so is its recovery. Because the recession began with interest rates at low levels, we can’t just have interest rates fall and housing, investment, and other interest-sensitive sectors come roaring back as they typically do in recoveries….”

http://delong.typepad.com/sdj/2010/09/christie-romer-the-only-surefire-way-for-policymakers-to-substantially-increase-aggregate-demand-in-the-short-run-is-for-the.html

Democratic Pollster: GOP Poised to Seize House and Senate

By: David A. Patten

“…Republicans are on the brink of pulling off a landslide “of potentially epic proportions” that would bring them control of both Houses of Congress and a majority of governorships, Democratic pollster and Fox News commentator Douglas Schoen says.

In an exclusive Newsmax interview, Schoen says he now sees several indications that matters are going from bad to worse for Democrats in this election cycle.

He points to a RealClearPolitics.com analysis that now shows Republicans picking up a net gain of nine seats in the Senate, which would deadlock the upper chamber 50 to 50. And polls show several other GOP candidates, including Carly Fiorina in California and Dino Rossi in Washington state, remain within striking distance, he says.

Schoen, a pollster for former President Bill Clinton, is co-author of the new book “Mad as Hell: How the Tea Party Movement is Fundamentally Remaking Our Two-Party System.”
…”

http://www.newsmax.com/Headline/gop-polls-lead-democrats/2010/10/08/id/373121?s=al&promo_code=AF37-1

 Monetization

“…Monetization is the process of converting or establishing something into legal tender. It usually refers to the printing of banknotes by central banks, but things such as gold, diamonds and emeralds, and art can also be monetized. Even intrinsically worthless items can be made into money, as long as they are difficult to make or acquire. Monetization may also refer to exchanging securities for currency, selling a possession, charging for something that used to be free or making money on goods or services that were previously unprofitable. …”

“…Monetizing debtIn many countries the government has assigned exclusive power to issue or print its national currency to independently operated central banks. For example, in the USA the independently owned and operated Federal Reserve banks do this.[1] Such governments thereby disavow the overly convenient ‘slippery slope’ option of paying their bills by printing new currency. They must instead pay with currency already in circulation, or else finance deficits by issuing new bonds, and selling them to the public or to their central bank so as to acquire the necessary money. For the bonds to end up in the central bank it must conduct an open market purchase. This action increases the monetary base through the money creation process. This process of financing government spending is called monetizing the debt.[2] Monetizing debt is thus a two step process where the government issues debt to finance its spending and the central bank purchases the debt from the public. The public is left with an increased supply of base money.

Effects on inflation

When government deficits are financed through this method of debt monetization the outcome is an increase in the monetary base, or the money supply. If a budget deficit persists for a substantial period of time then the monetary base will also increase, shifting the aggregate demand curve to the right leading to a rise in the price level.[3] When governments intentionally do this, they devalue existing stockpiles of wealth of anyone who is holding assets based in that currency. It is in essence a “tax” as the overall value of their assets decrease due to a loss in spending power. This is known as “inflation tax“.

To summarize: a deficit can be the source of sustained inflation only if it is persistent rather than temporary and if the government finances it by creating money (through monetizing the debt), rather than leaving bonds in the hands of the public.[4]

Examples

Monetizing the debt can be used as a component of quantitative easing strategies, which involve the creation of new currency by the central bank, which may be used to purchase government debt, or can be used in other ways.

However, there can be an insidious effect. As one observer noted:

When governments reach the point where they are borrowing to pay the interest on their borrowing they are coming dangerously close to running a sovereign Ponzi scheme. Ponzi schemes have a way of ending unhappily. To get out of the Ponzi trap, governments will have to increase tax revenues, or cut spending, or monetize the debt–or most likely do some combination of all three. [5] …”

http://en.wikipedia.org/wiki/Monetization

 Quantitative Easing

“…The term quantitative easing (QE) describes a monetary policy used by central banks to increase the supply of money by increasing the excess reserves of the banking system. This policy is usually invoked when the normal methods to control the money supply have failed, i.e the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero.

A central bank implements QE by first crediting its own account with money it creates ex nihilo (“out of nothing”).[1] It then purchases financial assets, including government bonds, agency debt, mortgage-backed securities and corporate bonds, from banks and other financial institutions in a process referred to as open market operations. The purchases, by way of account deposits, give banks the excess reserves required for them to create new money, and thus hopefully induce a stimulation of the economy, by the process of deposit multiplication from increased lending in the fractional reserve banking system.

Risks include the policy being more effective than intended, spurring hyperinflation, or the risk of not being effective enough, if banks opt simply to sit on the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio.[1]

“Quantitative” refers to the fact that a specific quantity of money is being created; “easing” refers to reducing the pressure on banks.[2] However, another explanation is that the name comes from the Japanese-language expression for “stimulatory monetary policy”, which uses the term “easing”.[3] Quantitative easing is sometimes colloquially described as “printing money” although in reality the money is simply created by electronically adding a number to an account. Examples of economies where this policy has been used include Japan during the early 2000s, and the United States, the United Kingdom and the Eurozone during the global financial crisis of 2008–the present, since the programme is suitable for economies where the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero

http://en.wikipedia.org/wiki/Quantitative_easing

Consumer Sovereignty

“…Consumer sovereignty is a term which is used in economics to refer to the rule or sovereignty of consumers in markets as to production of goods. It is the power of consumers to decide what gets produced. People use this term to describe the consumer as the “king,” or ruler, of the market, the one who determines what products will be produced. [1] Also, this term denotes the way in which a consumer ideologically chooses to buy a good or service. Furthermore, the term can be used as either a norm (as to what consumers should be permitted) or a description (as to what consumers are permitted).

In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers as what to produce (and how much). Customers do not necessarily have to buy and, if dissatisfied, can take their business elsewhere, while the profit-seeking sellers find that they can make the greatest profit by trying to provide the best possible products for the price (or the lowest possible price for a given product). In the language of cliché, “The one with the gold makes the rules.”

To most neoclassical economists, complete consumer sovereignty is an ideal rather than a reality because of the existence—or even the ubiquity—of market failure. Some economists of the Chicago school and the Austrian school see consumer sovereignty as a reality in a free market economy without interference from government or other non-market institutions, or anti-market institutions such as monopolies or cartels. That is, alleged market failures are seen as being a result of non-market forces.

The term “consumer sovereignty” was coined by William Hutt who firstly used it in his 1936 book “Economists and the Public”. …”

http://en.wikipedia.org/wiki/Consumer_sovereignty

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Stimulus II: A Sequel America Can’t Afford

 

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The Minimum Wage Law–Causing Massive Unemployment Among Teenagers, Blacks and New Entrants Into Labor Force–Videos

Posted on September 12, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government spending, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Taxes, Video, Wisdom | Tags: , , , , , , , |

Data extracted on: September 12, 2010 (3:24:26 PM) 

Labor Force Statistics from the Current Population Survey

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

 

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate – 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2  
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0  
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9  
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2  
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6  
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9  
2006 15.2 15.3 16.1 14.6 14.0 15.7 15.9 16.1 16.3 15.2 14.9 14.7  
2007 14.8 14.9 14.9 15.6 15.9 16.2 15.3 16.0 16.0 15.5 16.2 16.9  
2008 17.8 16.5 16.0 15.6 18.9 19.0 20.8 18.9 19.3 20.3 20.3 20.8  
2009 20.9 21.8 22.0 21.8 23.2 24.3 24.5 25.7 26.1 27.6 26.8 27.1  
2010 26.4 25.0 26.1 25.4 26.4 25.7 26.1 26.3          

Series Id:           LNS14000006
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate – Black or African American
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Race:                Black or African American

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 8.2 8.1 7.4 7.0 7.7 7.8 7.7 7.9 7.3 7.3 7.3 7.4  
2001 8.2 7.7 8.3 8.0 7.9 8.3 8.0 9.1 8.9 9.5 9.8 10.1  
2002 10.0 9.9 10.5 10.7 10.2 10.5 9.8 9.8 9.7 9.8 10.7 11.3  
2003 10.5 10.7 10.3 10.9 10.9 11.5 10.9 10.9 11.1 11.4 10.2 10.1  
2004 10.4 9.7 10.3 9.8 10.1 10.2 11.0 10.5 10.3 10.8 10.7 10.7  
2005 10.6 10.9 10.5 10.3 10.1 10.2 9.2 9.7 9.4 9.1 10.6 9.2  
2006 8.9 9.4 9.5 9.4 8.7 8.8 9.5 8.8 9.0 8.5 8.6 8.3  
2007 8.0 8.0 8.3 8.3 8.3 8.4 8.0 7.7 8.1 8.5 8.5 9.0  
2008 9.2 8.3 9.1 8.6 9.6 9.4 9.9 10.8 11.4 11.3 11.5 12.1  
2009 12.8 13.5 13.5 15.0 15.0 14.8 14.7 15.2 15.5 15.7 15.6 16.2  
2010 16.5 15.8 16.5 16.5 15.5 15.4 15.6 16.3          

Series Id:                  LNS13023569
Seasonally Adjusted
Series title:               (Seas) Unemployment Level – New Entrants
Labor force status:         Unemployed
Type of data:               Number in thousands
Age:                        16 years and over
Unemployed entrant status:  New entrants

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 394 420 429 406 466 427 433 499 415 402 419 490  
2001 444 396 378 457 468 467 448 485 473 481 495 515  
2002 484 507 538 527 497 549 545 612 536 479 591 535  
2003 599 584 630 635 630 661 669 652 686 636 593 693  
2004 676 666 631 652 718 649 702 704 695 734 700 702  
2005 621 753 712 764 710 650 630 626 607 638 673 633  
2006 618 710 635 590 522 644 638 647 612 573 583 588  
2007 628 599 614 621 536 634 599 590 668 700 661 688  
2008 685 660 705 631 807 771 829 826 811 826 735 820  
2009 792 1016 881 919 977 969 994 1096 1134 1114 1270 1270  
2010 1235 1238 1197 1231 1206 1140 1188 1259          

 

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Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

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The Massive Contraction of The M3 Money Supply To Stop Hyperinflation Will Result In No Net Job Creation For Two Years–The Obama Depression–Longer, Deeper, and Dangerous–Failing Fasicsm and Wage and Price Controls!

Posted on May 28, 2010. Filed under: Blogroll, Books, Communications, Economics, Federal Government, government spending, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Raves, Video | Tags: , , , , , , , , , , |

 

http://nowandfutures.com/key_stats.html

http://www.shadowstats.com/alternate_data/money-supply-charts

 

http://www.shadowstats.com/

Meltup The new Inflation

]Gerald Celente calls for the crash of 2010

 

GLOBAL BREAKDOWN: 1/3 Gerald Celente’s latest trends

 

GLOBAL BREAKDOWN:2/3 Gerald Celente’s latest trends

 

 

GLOBAL BREAKDOWN: 3/3 Gerald Celente’s latest trends

US – Next Greece or Japan?

 

Euro bailout “welfare for the rich” – Jim Rogers

 

Marc Faber: Future Negative US Interest Rates- Part 1 of 2 (2.23.10)

 

Marc Faber: Future Negative US Interest Rates- Part 2 of 2 (2.23.10)

With over 30 million American seeking full time employment and 40 million Americans on food stamps and rising consumer prices,  the United States economy is entering an inflationary depression.

40 MILLION PEOPLE ON FOOD STAMPS 4-15-2010

 

The failed Keynes economic policies of the Obama administration are only making mattters worse.

By the end of the year expect the official unemployment rate to hit 11% as the Census employees become unemployed again and  consumer prices for food and energy continu to rise.

The political issues in the next two elections will be jobs, government spending, taxes, debt, public safety and security.

The American people will throw out of office any politician who does not insist on immigration law enfocement and the removal from the workplace and deportation to their country of origin of all illegal aliens.

The progressive radcical socialist of the Democratic Party led by Barack Obama will be massively defeatedat the polls.

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus
 

Obama’s So-Called Stimulus: Good For Government, Bad For the Economy

Free Markets and Small Government Produce Prosperity

Background Articles and Videos

US money supply plunges at 1930s pace as Obama eyes fresh stimulus

“…The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

http://www.telegraph.co.uk/finance/economics/2795017/Sharp-US-money-supply-contraction-points-to-Wall-Street-crunch-ahead.html

Sharp US money supply contraction points to Wall Street crunch ahead

By Ambrose Evans-Pritchard

“…The US money supply has experienced the sharpest contraction in modern history, heightening the risk of a Wall Street crunch and a severe economic slowdown in coming months.

Data compiled by Lombard Street Research shows that the M3 ”broad money” aggregates fell by almost $50bn (£26.8bn) in July, the biggest one-month fall since modern records began in 1959. …”

http://www.telegraph.co.uk/finance/economics/2795017/Sharp-US-money-supply-contraction-points-to-Wall-Street-crunch-ahead.html

US money supply contraction only comparable to Great Depression

“…The M3 money supply in the US is contracting at a rate that is only comparable with the period 1929-1933. This is the hidden killer that the global economy now faces.

M3 began shrinking last summer and the pace has accelerated since then, reported The Daily Telegraph yesterday. In the three months to the end of April M3 contracted by 9.6 per cent to $13.9 trillion, and institutional money market funds fell at a 37 per cent rate, the biggest ever fall. …”

http://www.arabianmoney.net/global-economics/2010/05/28/us-money-supply-contraction-only-comparable-to-great-depression/

Ron Paul at SRLC 10! (Part 1/3)

 

Ron Paul at SRLC 10! (Part 2/3)


 

Ron Paul at SRLC 10! (Part3/3)

the story of paper money 1 of 3

 

the story of paper money 2 of 3

 

the story of paper money 3 of 3

 

Consumer Price Index -April 2010

On a seasonally adjusted basis, the Consumer Price Index for All
Urban Consumers (CPI-U) declined 0.1 percent in April, the U.S.
Bureau of Labor Statistics reported today. Over the last 12 months,
the index increased 2.2 percent before seasonal adjustment.

The index for energy decreased 1.4 percent in April and accounted for
the seasonally adjusted decline in the all items index. The indexes
for gasoline and natural gas both decreased significantly,
outweighing increases in the indexes for fuel oil and electricity.

The food index increased 0.2 percent in April, while the index for
all items less food and energy was unchanged. The index for meats,
poultry, fish, and eggs rose sharply in April and accounted for the
food increase; other grocery store food groups were mixed and the
index for food away from home rose slightly. Within all items less
food and energy, the indexes for recreation, airline fares, and
medical care all rose in April. Offsetting these increases were
declines in the indexes for apparel and for household furnishings and
operations. The continuing stability of the index for all items less
food and energy has resulted in an increase over the last 12 months
of 0.9 percent, the smallest 12-month increase since January 1966.

Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city
average
                                                                              
                                                                              
                                  Seasonally adjusted changes from            
                                          preceding month                     
                                                                          Un- 
                                                                       adjusted
                                                                        12-mos.
                              Oct.  Nov.  Dec.  Jan.  Feb.  Mar.  Apr.   ended
                              2009  2009  2009  2010  2010  2010  2010   Apr. 
                                                                         2010 
                                                                                                                                                             
All items………………    .2    .2    .2    .2    .0    .1   -.1      2.2
  Food………………….    .0    .1    .1    .2    .1    .2    .2       .5
   Food at home………….    .0    .0    .2    .4    .1    .5    .2       .0
   Food away from home (1)..    .1    .2    .1    .1    .1    .0    .1      1.1
  Energy………………..    .6   2.2    .8   2.8   -.5    .0  -1.4     18.5
   Energy commodities…….    .4   3.0   1.6   4.9  -1.3  -1.0  -2.1     37.0
    Gasoline (all types)….    .3   2.7   2.3   4.4  -1.4   -.8  -2.4     38.3
    Fuel oil (1)…………   2.2   7.4    .0   6.1  -2.4    .7   2.3     28.0
   Energy services……….    .8   1.1   -.3    .0    .5   1.4   -.5      -.2
    Electricity………….    .8   1.2   -.2  -1.1   -.5   2.1    .7       .6
    Utility (piped) gas                                                       
       service…………..    .7    .9   -.7   3.5   3.9   -.7  -4.4     -2.9
  All items less food and                                                     
     energy……………..    .2    .0    .1   -.1    .1    .0    .0       .9
   Commodities less food and                                                  
      energy commodities….    .4    .2    .1    .1   -.1   -.1   -.3      1.2
    New vehicles…………   1.4    .5   -.2   -.5    .1    .1    .0      2.5
    Used cars and trucks….   3.1   1.9   2.2   1.5    .7    .5    .2     16.6
    Apparel……………..   -.3   -.3    .4   -.1   -.7   -.4   -.7      -.9
    Medical care commodities                                                  
       (1)………………    .2    .1   -.1    .7    .8    .4    .2      3.5
   Services less energy                                                       
      services…………..    .1    .0    .1   -.2    .1    .1    .2       .8
    Shelter……………..    .0   -.2    .0   -.5    .0   -.1    .0      -.7
    Transportation services     .5    .5    .3   -.3    .4    .4    .4      3.9
    Medical care services…    .2    .3    .2    .5    .4    .3    .3      3.7

   1 Not seasonally adjusted.

http://www.bls.gov/news.release/cpi.nr0.htm

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Glenn Beck On The Revivial Of Faith, Hope, Charity and The Gold Standard

Posted on May 20, 2010. Filed under: Blogroll, Climate, Communications, Culture, Demographics, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Immigration, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Raves, Regulations, Resources, Reviews, Security, Strategy, Talk Radio, Taxes, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , |

 

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.”

~Alan Greespan

Glenn Beck-05/19/10-A

Weiner Facts.com

http://www.weinerfacts.com/weiner/

 

Glenn Beck-05/19/10-B

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Gold and the Good Guys | Thomas E. Woods, Jr.

The Truth About The Economy: Total Collapse

“I can see, and that is why I can be happy, in what you call the dark, but which to me is golden. I can see a God-made world, not a manmade world.”

~Helen Keller

 

Background Articles and Videos

The Gold Standard Before the Civil War | Murray N. Rothbard

Milton Friedman on The Gold Standard

Gold Standard

“… The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. Three distinct kinds of gold standard can be identified. The gold specie standard is a system in which the monetary unit is associated with circulating gold coins, or with the unit of value defined in terms of one particular circulating gold coin in conjunction with subsidiary coinage made from a lesser valuable metal. The gold exchange standard may involve only the circulation of silver coins, or coins made of other metals, but the authorities will have guaranteed a fixed exchange rate with another country that is on the gold standard, hence creating a de facto gold standard, in that the value of the silver coins has a fixed external value in terms of gold that is independent of the inherent silver value. The gold bullion standard is a system in which gold coins do not actually circulate as such, but in which the authorities have agreed to sell gold bullion on demand at a fixed price in exchange for the circulating currency.

The gold specie standard

A gold specie standard existed in some of the great empires of earlier times, such as in the case of the Byzantine Empire which used a gold coin known as the Byzant. But with the ending of the Byzantine Empire, the civilized world tended to use the silver standard, such as in the case of the silver pennies that became the staple coin of Britain around the time of King Offa in the year 796 AD. The Spanish discovery of the great silver deposits at Potosi in the 16th century, led to an international silver standard in conjunction with the famous pieces of eight, which carried on in earnest until the nineteenth century. In modern times the British West Indies was one of the first regions to adopt a gold specie standard. The gold standard in the British West Indies, that followed from Queen Anne’s proclamation of 1704, was a ‘de facto’ gold standard based on the Spanish gold doubloon coin. In the year 1717, Sir Isaac Newton, who was master of the Royal Mint, established a new mint ratio as between silver and gold that had the effect of driving silver out of circulation and putting Britain on a gold standard. But it wasn’t until the year 1821, following the introduction of the gold sovereign coin by the new Royal Mint at Tower Hill in the year 1816, that the United Kingdom was formally put on a gold specie standard. The United Kingdom was the first of the great industrial powers to switch from the silver standard to a gold specie standard. Soon to follow was Canada in 1853, Newfoundland in 1865, and the USA and Germany ‘de jure’ in 1873. The USA used the American Gold Eagle as their unit, and Germany introduced the new gold mark, while Canada adopted a dual system based on both the American Gold Eagle and the British Gold Sovereign. Australia and New Zealand adopted the British gold standard, as did the British West Indies, while Newfoundland was the only British Empire territory to introduce its own gold coin as a standard. Royal Mint branches were established in Sydney, New South Wales, Melbourne, Victoria, and Perth, Western Australia for the purposes of minting gold sovereigns from Australia’s rich gold deposits.

The gold exchange standard

Towards the end of the nineteenth century some of the remaining silver standard countries began to peg their silver coin units to the gold standards of the United Kingdom or the USA. In 1898, British India pegged the silver rupee to the pound sterling at a fixed rate of 1s 4d, while in 1906, the Straits Settlements adopted a gold exchange standard against the pound sterling with the silver Straits dollar being fixed at 2s 4d. Meanwhile at the turn of the century, the Philippines pegged the silver Peso/dollar to the US dollar at 50 cents. A similar pegging at 50 cents occurred at around the same time with the silver Peso of Mexico and the silver Yen of Japan. When Siam adopted a gold exchange standard in 1908, this left only China and Hong Kong on the silver standard.

The gold bullion standard

The gold specie standard ended in the United Kingdom and the rest of the British Empire at the outbreak of World War I. Treasury notes replaced the circulation of the gold sovereigns and gold half sovereigns. However, legally the gold specie standard was not repealed. The end of the gold standard was successfully effected by appeals to patriotism when somebody would request the Bank of England to redeem their paper money for gold specie. It was only in the year 1925 when Britain returned to the gold standard in conjunction with Australia and South Africa, that the gold specie standard was officially ended. The British act of parliament that introduced the gold bullion standard in 1925 simultaneously repealed the gold specie standard. The new gold bullion standard did not envisage any return to the circulation of gold specie coins. Instead, the law compelled the authorities to sell gold bullion on demand at a fixed price. This gold bullion standard lasted until 1931. In 1931, the United Kingdom was forced to suspend the gold bullion standard due to large outflows of gold across the Atlantic Ocean. Australia and New Zealand had already been forced off the gold standard by the same pressures connected with the Great Depression, and Canada quickly followed suit with the United Kingdom. …”

http://en.wikipedia.org/wiki/Gold_standard

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Posted on May 18, 2010. Filed under: Babies, Blogroll, College, Communications, Crime, Culture, Demographics, Economics, Education, Employment, Energy, Farming, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Homes, Immigration, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Security, Strategy, Talk Radio, Taxes, Transportation, Video, Wisdom | Tags: , , , |

 

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The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

KGB Defector Yuri Bezmenov: Soviet Subversion of the Free World Press–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Read Full Post | Make a Comment ( None so far )

Obama Depression Worsens And Continues: Unemployment Rates Hit 9.9% (U-3, Official) and 17.1% (U-6, Real)–Over 27 Million Americans Seeking Full Time Job–35 State Unemployment Insurance Funds Insolvent–Start of Second American Revolution Or World War III?

Posted on May 7, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Immigration, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Taxes, Technology, Video | Tags: , , , , , , , , , , |

HOUSEHOLD DATA
Table A-15. Alternative measures of labor underutilization

[Percent]
Measure Not seasonally adjusted Seasonally adjusted
Apr.
2009
Mar.
2010
Apr.
2010
Apr.
2009
Dec.
2009
Jan.
2010
Feb.
2010
Mar.
2010
Apr.
2010
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force 4.5 6.3 6.3 4.1 5.9 5.8 5.8 5.8 5.8
 
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force 5.6 6.7 5.9 5.7 6.3 6.1 6.2 6.1 6.0
 
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate) 8.6 10.2 9.5 8.9 10.0 9.7 9.7 9.7 9.9
 
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers 9.0 10.8 10.2 9.4 10.5 10.3 10.4 10.3 10.6
 
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force 9.8 11.5 10.9 10.1 11.4 11.2 11.1 11.1 11.3
 
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force 15.4 17.5 16.6 15.8 17.3 16.5 16.8 16.9 17.1
NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data.

Christina Romer on Jobs, Deficit

 

Obama On April 2010 Job Growth

3 Reasons Public Sector Employees are Killing the Economy

U.S. Government is biggest employer of Illegal Alien Workers

Peter Schiff, How an Economy Grows Why it Crashes


 

President Obama is an economic illiterate.

Higher unemployment is not an accomplishment, it is an economic disaster.

In May and June when graduating  high school and college students enter the labor force and cannot find jobs, by the President’s logic this is progress as the unemployment rates increase even more.

Cut the rubbish Mr. President.

More Americans looking for a job is not the same as more Americans finding jobs.

Only when the unemployment rates start to decline and fall back to under 5% will real progress be made.

Nobody is falling for this nonsense and spin.

 Stop lying Mr. President.

There are actually over thirty million Americans looking for a full-time job.

This is more than double the number of Americans looking for a full-time job in the worse month of the Great Depression, March 1933, when nearly 13 million Americans  were unemployed.

Had President Obama done absolutely nothing, the economy would be in far better shape than it is now. 

Instead the progressive radical socialist Democratic Party passed a stimulus package that simply did not work.

The only sector of the economy that has experienced significant  job and salary growth is the Federal Government.

Over 8.4 million jobs have been lost since December 2007 of which over 4 million jobs have been lost under the Presidency of Barack Obama.

Over 35 state unemployment insurance trust funds are insolvent and are being bailed out by loans from the Federal Government.

There are currently between 10 million to 15 million illegal aliens working in the United States.

Now if the President and the Federal Government would enforce immigration laws and remove from the work place illegal aliens and deport them back to their country of origin, the unemployment rate would  decline by about a third as American citizens took the jobs.

 President Obama appears to be more concerned about illegal aliens than American citizens.

No wonder the President and his surrogates are race baiting those in Arizona that are demanding immigration law enforcement in self-defense of their lives and property.

The youth, blacks, Hispanics and whites that are currently unemployed will remember the progressive radical socialist Democratic Party led by President Obama put illegal alien rights ahead of jobs for American citizens.

 May 6 10 Hearing on the Solvency of the Unemployment Insurance System, McDermott Opening Statement


 

May 6 10 Hearing on the Solvency of the Unemployment Insurance System, Brill Opening Statement

May 6 10 Hearing on th

e Solvency of the Unemployment Insurance System, Sherill Opening Statement

May 6 10 Hearing on the Solvency of the Unemployment Insurance System, Lee Opening Statement

May 6 10 Hearing on the Solvency of the Unemployment Insurance System, Holmes Opening Statement

 

May 6 10 Hearing on the Solvency of the Unemployment Insurance System, Stettner Opening Statement

Gerald Celente: Economic recovery a cover up

Gerald Celente The Coming Great War of Our Age on Alex Jones Tv 1 8

 

Gerald Celente The Coming Great War of Our Age on Alex Jones Tv 2 8

Series Id:           LNS14000000 Seasonally Adjusted Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

 

Year

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9  
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7  
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0  
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7  
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4  
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9  
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4  
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0  
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4  
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0  
2010 9.7 9.7 9.7 9.9                

 

Series Id:           LNS13327709 Seasonally Adjusted Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 8.0  
2007 8.3 8.1 8.0 8.2 8.2 8.2 8.3 8.5 8.4 8.4 8.5 8.8  
2008 9.1 8.9 9.0 9.2 9.7 10.0 10.5 10.9 11.2 11.9 12.8 13.7  
2009 14.0 15.0 15.6 15.8 16.4 16.5 16.4 16.8 17.0 17.4 17.2 17.3  
2010 16.5 16.8 16.9 17.1                

 

Series Id:           LNS11000000 Seasonally Adjusted Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248  
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305  
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066  
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729  
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059  
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030  
2006 150201(1) 150629 150839 150915 151085 151368 151383 151729 151650 152020 152360 152698  
2007 153117(1) 152941 153093 152531 152717 153045 153039 152781 153393 153158 153767 153869  
2008 154048(1) 153600 153966 153936 154420 154327 154410 154696 154590 154849 154524 154587  
2009 154140(1) 154401 154164 154718 154956 154759 154351 154426 153927 153854 153720 153059  
2010 153170(1) 153512 153910 154715                  
1 : Data affected by changes in population controls.

 

Series Id:           LNS11300000 Seasonally Adjusted Series title:        (Seas) Labor Force Participation Rate Labor force status:  Civilian labor force participation rate Type of data:        Percent or rate Age:                 16 years and over
 
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0  
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7  
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3  
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9  
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9  
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0  
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4  
2007 66.4 66.3 66.3 66.0 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0  
2008 66.2 66.0 66.1 66.0 66.2 66.1 66.0 66.1 66.0 66.0 65.8 65.8  
2009 65.7 65.7 65.6 65.8 65.8 65.7 65.4 65.4 65.1 65.0 64.9 64.6  
2010 64.7 64.8 64.9 65.2                

http://data.bls.gov/cgi-bin/surveymost 

Employment Situation Summary

THE EMPLOYMENT SITUATION — APRIL 2010

Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent, and the labor force increased sharply, the U.S.
Bureau of Labor Statistics reported today. Job gains occurred in anufactur-
ing, professional and business services, health care, and leisure and hospi-
tality. Federal government employment also rose, reflecting continued hiring of temporary workers for Census 2010.

Household Survey Data

In April, the number of unemployed persons was 15.3 million, and the unem
ployment rate edged up to 9.9 percent. The rate had been 9.7 percent for the first 3 months of this year. (See table A-1.)

Among the major worker groups, the unemployment rate for whites (9.0 percent) edged up in April, while the rates for adult men (10.1 percent), adult women (8.2 percent), teenagers (25.4 percent), blacks (16.5 percent), and Hispanics (12.5 percent) showed little or no change. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up over the month, reaching 6.7 million. In April, 45.9 percent of unemployed persons had been jobless for 27 weeks or more. (See table A-12.)

Among the unemployed, the number of reentrants to the labor force rose by
195,000 over the month. (See table A-11.)

In April, the civilian labor force participation rate increased by 0.3 percent-
age point to 65.2 percent, as the size of the labor force rose by 805,000.

Since December, the participation rate has increased by 0.6 percentage point. The employment-population ratio rose to 58.8 percent over the month and has increased by 0.6 percentage point since December. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was about unchanged at 9.2 million in April. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

About 2.4 million persons were marginally attached to the labor force in April, compared with 2.1 million a year earlier. (The data are not seasonally adjusted.)

These individuals were not in the labor force, wanted and were available for work,and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 1.2 million discouraged workers in April, up by 457,000 from a year earlier. (The data are not seasonally adjusted.)

Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.

The remaining 1.2 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See
table A-16.) 

http://www.bls.gov/news.release/empsit.nr0.htm 

Stimulus II: A Sequel America Can’t Afford

The Empirical Evidence Against Big Government

Free Markets and Small Government Produce Prosperity

The Unemployment Game Show: Are You *Really* Unemployed? – From Mint.com

 

Alternate Unemployment Charts

“…The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment. …”

http://www.shadowstats.com/alternate_data/unemployment-charts

Background Articles and Videos

                       **Peter Schiff – Because We Were Free**

 

 

  04 UNDERSTANDING ECONOMICS: UNEMPLOYMENT

Unemployment 9.9% for April 2010

“…The April 2010 monthly unemployment figures are out. The rate increased to 9.9% and the number of jobs gained is 290,000. How the rate can increase when the U.S. gained that many jobs will be answered below.

Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent …”

http://www.economicpopulist.org/content/unemployment-99-april-2010

How the Government Measures Unemployment

On this Page:

  1. Why does the Government collect statistics on the unemployed?
  2. Where do the statistics come from?
  3. What are the basic concepts of employment and unemployment?
  4. Who is counted as employed?
  5. Who is counted as unemployed?
  6. Who is not in the labor force?
  7. What about cases of overlap?
  8. Where can people find the data?
  9. How are seasonal fluctuations taken into account?
  10. Is there only one official definition of unemployment?
  11. What other information is collected in the CPS?
  12. How is unemployment measured for States and local areas?
  13. Where can people get more information?
  14. What do the unemployment insurance (UI) figures measure?

http://www.bls.gov/cps/cps_htgm.htm

 

Unemployment

“…Unemployment occurs when a person is available and willing to work but currently without work.[1] The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed. The unemployment rate is also used in economic studies and economic indices such as the United States’ Conference Board’s Index of Leading Indicators as a measure of the state of macroeconomics.

Mainstream economics believes in the main that unemployment is inevitable, and a necessary evil to prevent inflation; this is disputed by some schools of heterodox economics. The causes of unemployment are disputed. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems and inefficiencies inherent in labour markets; structural unemployment involves mismatches between demand and supply of laborers with the necessary skillset, sometimes induced by disruptive technologies or globalisation. Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed and the time it takes to find a new job (frictional unemployment). Behavioral economics highlights phenomena such as sticky wages and efficiency wages which may lead to unemployment.

There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the United States experiences lower unemployment levels than countries in the European Union,[2] although there is variant there, with countries like the UK and Denmark outperforming Italy and France and it also changes over time (e.g. the Great Depression) throughout economic cycles. …”

“…United States Bureau of Labor Statistics

The Bureau of Labor Statistics measures employment and unemployment (of those over 15 years of age) using two different labor force surveys[49] conducted by the United States Census Bureau (within the United States Department of Commerce) and/or the Bureau of Labor Statistics (within the United States Department of Labor) that gather employment statistics monthly. The Current Population Survey (CPS), or “Household Survey”, conducts a survey based on a sample of 60,000 households. This Survey measures the unemployment rate based on the ILO definition.[50] The data are also used to calculate 5 alternate measures of unemployment as a percentage of the labor force based on different definitions noted as U1 through U6:[51]

  • U1: Percentage of labor force unemployed 15 weeks or longer.
  • U2: Percentage of labor force who lost jobs or completed temporary work.
  • U3: Official unemployment rate per ILO definition.
  • U4: U3 + “discouraged workers”, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
  • U5: U4 + other “marginally attached workers”, or “loosely attached workers”, or those who “would like” and are able to work, but have not looked for work recently.
  • U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons (underemployment).

Note: “Marginally attached workers” are added to the total labor force for unemployment rate calculation for U4, U5, and U6. The BLS revised the CPS in 1994 and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5.[52]

It should also be noted that studies have found that the U.S. unemployment rate would be at least 2% higher if prisoners and jail inmates were counted.[53][54]

The Current Employment Statistics survey (CES), or “Payroll Survey”, conducts a survey based on a sample of 160,000 businesses and government agencies that represent 400,000 individual employers.[55] This survey measures only nonagricultural, nonsupervisory employment; thus, it does not calculate an unemployment rate, and it differs from the ILO unemployment rate definition. These two sources have different classification criteria, and usually produce differing results. Additional data are also available from the government, such as the unemployment insurance weekly claims report available from the Office of Workforce Security, within the U.S. Department of Labor Employment & Training Administration.[56]

These statistics are for the U.S. economy as a whole, hiding variations among groups. For January 2008 in the U.S. the unemployment rates were 4.4% for adult men, 4.2% for adult women, 4.4% for Caucasians, 6.3% for Hispanics or Latinos (all races), 9.2% for African Americans, 3.2% for Asian Americans, and 18.0% for teenagers.[55]

These percentages represent the usual rough ranking of these different groups’ unemployment rates. The absolute numbers change over time and with the business cycle.[57]

The Bureau of Labor Statistics provides up-to-date numbers via a pdf linked here.[58] The BLS also provides a readable concise current Employment Situation Summary, updated monthly.[59]

http://en.wikipedia.org/wiki/Unemployment

Series Id:           LNS11000000 Seasonally Adjusted Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248  
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305  
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066  
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729  
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059  
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030  
2006 150201(1) 150629 150839 150915 151085 151368 151383 151729 151650 152020 152360 152698  
2007 153117(1) 152941 153093 152531 152717 153045 153039 152781 153393 153158 153767 153869  
2008 154048(1) 153600 153966 153936 154420 154327 154410 154696 154590 154849 154524 154587  
2009 154140(1) 154401 154164 154718 154956 154759 154351 154426 153927 153854 153720 153059  
2010 153170(1) 153512 153910 154715                  
1 : Data affected by changes in population controls.

 

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Obama Depression Continues–30,000,000 American Citizens Seeking Full Time Jobs–More Than Twice The Great Depression–Nearly 40,000,000 On Food Stamp Bread Lines or SNAP!

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The Great Depression and the Current Recession–Robert Higgs–Videos

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Rose Colored Glasses:The Economy Is Recovering–Where Are The Jobs? When Will Inflation Hit? 2012–Election Year!

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The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

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Read Full Post | Make a Comment ( None so far )

The Great Depression and The Obama Depression–Videos

Posted on April 14, 2010. Filed under: Blogroll, College, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Monetary Policy, Video, Wisdom | Tags: , , , , , , , , , |

 

Obama’s New New Deal: As bad as the old new deal?

The Truth About the Great Depression (by Thomas DiLorenzo)

Robert Higgs on Hoover’s Great Depression Policies ?

The Great Depression and the Current Recession (Robert Higgs)

“Robert Higgs is an American economist of the Austrian School and a libertarian anarchist. He currently serves as a Senior Fellow in Political Economy at the Independent Institute and is an adjunct faculty member of the Ludwig von Mises Institute and is an adjunct scholar at the Cato Institute. He received his Ph.D. in economics from Johns Hopkins University, and has taught at the University of Washington, Lafayette College, Seattle University, and the University of Economics, Prague. He has been a visiting scholar at Oxford University and Stanford University, and a fellow for the Hoover Institution and the National Science Foundation. Mr. Higgs is also a regular contributor to LewRockwell.com.

His writings in economics and economic history have most often focused on the causes, means, and effects of government growth. Some of the books he has authored include, Crisis and Leviathan: Critical Episodes in the Growth of American Government; Resurgence of the Warfare State: The Crisis Since 9/11, and Depression, War and Cold War: Studies in Political Economy. He is also the editor of the collections, Re-Thinking Green: Alternatives to Environmental Bureaucracy; The Challenge of Liberty: Classical Liberalism Today; and Opposing the Crusader State: Alternatives to Global Interventionism.”

80 Years Later: Parallels Between 1929 and 2009

 

 

A Recipe for the Next Great Depression

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

 

Obama’s So-Called Stimulus: Good For Government, Bad For the Economy

Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression

 

UCLA’s Lee Ohanian: Hoover, Roosevelt and the Great Depression

Robert Higgs on Economic Prospects for 2010

 

Background Articles and Videos

Higgs and Liebowitz on Causes of the Economic Crisis ?

Robert Higgs on C-SPAN2’s Book TV, Part 1 of 3

Robert Higgs on C-SPAN2’s Book TV, Part 2 of 3

Robert Higgs on C-SPAN2’s Book TV, Part 3 of 3

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Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

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President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

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Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

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American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

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President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

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Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

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The Glenn Beck Plan vs. The Pronk Plan for A Peace and Prosperity Economy of The American Citizens Alliance Party–Videos

Posted on April 12, 2010. Filed under: Blogroll, Communications, Culture, Demographics, Economics, Education, Fiscal Policy, government, government spending, history, Immigration, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Science, Security, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , , , , , , , |

UPDATED and REVISED July 23, 2011

“…It is a signal advantage of taxes on articles of consumption, that they contain in their own nature a security against excess. They prescribe their own limit; which cannot be exceeded without defeating the end proposed, that is, an extension of the revenue. When applied to this object, the saying is as just as it is witty, that, “in political arithmetic, two and two do not always make four.” If duties are too high, they lessen the consumption; the collection is eluded; and the product to the treasury is not so great as when they are confined within proper and moderate bounds. This forms a complete barrier against any material oppression of the citizens by taxes of this class, and is itself a natural limitation of the power of imposing them….”

~Alexander Hamilton, The Federalist No. 21, The Federalist Papers

“The income tax created more criminals than any other single act of government.”

~Barry Goldwater

http://www.constitution.org/fed/federa21.htm

President Obama’s Pledge Never to Raise Taxes on Anyone Making Less Than $250,000 a Year

President Obama Backs Away From Tax Relief Campaign Promise

Budget 2011: Past Deficits vs. Obama’s Deficits in Pictures

“… The chart above compares the President’s budget deficit projections to the Congressional Budget Office’s budget deficit projections under current law. In other words, the policy changes embodied in President Obama’s 2011 Budget puts our country $2.5 trillion deeper in debt by 2020 than it other wise would be if current law were left unchanged.

Now the President is apparently arguing that his trillions of dollars in additional deficit spending are needed to “invest in areas that will determine our economic success in this new century.”

This is statement goes to the core of the fundamental difference between leftists and conservatives in this country: liberals belief economic growth comes from wise investments by government experts; conservatives believe that economic growth stems from  millions of Americans having the freedom to make their own economic decisions everyday. …”

http://blog.heritage.org/2010/02/05/past-deficits-vs-obamas-deficits-in-pictures

The Beck Plan

Glenn Beck-04-12-10-A

Glenn Beck-04-12-10-B

Glenn Beck-04-12-10-C

Glenn Beck-04-12-10-D

Each month approximately 100,000 people enter the civilian labor force in the United States for the first time.

Thus in order for the official unemployment rate (U-3) to remain constant, at least 100,000 new jobs must be created each month.

In order to reduce the official unemployment rate (U-3) more than 100,000 new jobs need to be created each month.

Since the economy entered the recession in 2008, over 7,000,000 jobs have been lost in the United States.

In order to get the unemployment rate back to pre-recession levels of 5.0% or under,  it will take at least 24 months provided about 200,000 new jobs are created each month in addition to the 100,000 for new entrants into the labor market or a total of 300,000 new jobs each month.

While  U.S. economic growth may be positive, the economy or more precisely small and medium size businesses are still not hiring at anywhere near 300,000 per month.

The actual rate of job creation by the private sector or businesses is under 100,000 new jobs per month.

The actual rate of unemployment measured by U-6 is 16.9% and indicates how bad the job situation actually is:

Why?

Business owners and consumers lack confidence in the economic policies of President Barack Obama.

Instead of restraining entitlement programs, President Obama expanded them with the passage of his Obama Care law:

President Obama’s Health Care bill with its mandatory requirement to buy a plan or pay a tax/ fine, proposed tax increases such as the cap and trade energy tax, proposed income tax rate increases, letting the Bush tax rates expire at the end of 2010, and giving hints of a new value added tax, all discourage small businesses from expanding their operations and hiring new workers.

These tax increase are directed at the top 5% of taxpayers who are the very owners of businesses that create wealth,  new jobs and grow the economy.

 Summary of Federal Individual Income Tax Data, 2008

(Updated October 2010)

Number of Returns with Positive AGI AGI ($ millions) Income Taxes Paid ($ millions) Group’s Share of Total AGI Group’s Share of Income Taxes Income Split Point Average Tax Rate
All Taxpayers 139,960,580 8,426,625 1,031,512 100% 100% 12.24%
Top 1% 1,399,606 1,685,472 392,149 20.00% 38.02% $380,354 23.27%
1-5% 5,598,423 1,241,229 213,569 14.73% 20.70% 17.21%
Top 5% 6,998,029 2,926,701 605,718 34.73% 58.72% $159,619 20.70%
5-10% 6,998,029 929,761 115,703 11.03% 11.22% 12.44%
Top 10% 13,996,058 3,856,462 721,421 45.77% 69.94% $113,799 18.71%
10-25% 20,994,087 1,821,717 169,193 21.62% 16.40% 9.29%
Top 25% 34,990,145 5,678,179 890,614 67.38% 86.34% $67,280 15.68%
25-50% 34,990,145 1,673,932 113,025 19.86% 10.96% 6.75%
Top 50% 69,980,290 7,352,111 1,003,639 87.25% 97.30% >$33,048 13.65%
Bottom 50% 69,980,290 1,074,514 27,873 12.75% 2.70% <$33,048 2.59%
Source: Internal Revenue Service

http://www.taxfoundation.org/news/show/250.html#Data

Summary of Federal Individual Income Tax Data, 2007

(Updated July 2009)

Number of Returns with Positive AGI AGI
($ millions)
Income Taxes Paid
($ millions)
Group’s Share of Total AGI Group’s Share of Income Taxes Income Split Point Average Tax Rate
All Taxpayers 141,070,971 $8,798,500 $1,115,504 100% 100% 12.68%
Top 1% 1,410,710 $2,008,259 $450,926 22.83% 40.42% > $410,096 22.45%
Top 2-5% 5,642,839 $1,286,283 $225,367 14.62% 20.20% 17.52%
Top 5% 7,053,549 $3,294,542 $676,293 37.44% 60.63% > $160,041 20.53%
Top 6-10% 7,053,548 $933,297 $118,139 10.61% 10.59% 12.66%
Top 10% 14,107,097 $4,227,839 $794,432 48.05% 71.22% > $113,018 18.79%
Top 11-25% 21,160,646 $1,817,515 $171,443 20.66% 15.37% 9.43%
Top 25% 35,267,743 $6,045,354 $965,875 68.71% 86.59% > $66,532 15.98%
Top 26-50% 35,267,743 $1,674,859 $117,368 19.04% 10.52% 7.01%
Top 50% 70,535,486 $7,720,213 $1,083,243 87.74% 97.11% > $32,879 14.03%
Bottom 50% 70,535,485 $1,078,287 $32,261 12.26% 2.89% < $32,879 2.99%
Source: Internal Revenue Service

http://www.taxfoundation.org/news/show/250.html

The Top 10 Percent of Income Earners Paid 71 Percent of Federal Income Tax

“…Top earners are the target for new tax increases, but the U.S. tax system is already highly progressive. The top 1 percent of income earners paid 40 percent of all federal income taxes in 2007, while the bottom 50 percent paid only 3 percent. More than one-third of U.S. earners paid no federal income tax at all. …”

(View historical chart by clicking on link below)

http://www.heritage.org/budgetchartbook/top10-percent-income-earners

The government does not create jobs or wealth, the Federal government mainly redistributes wealth by taxing those who actually produce wealth and new jobs.

President Obama’s economic policies and proposed legislation are generating massive uncertainty.

Consumers and business owners do not like uncertainty.

When uncertainty increases, both consumers and businesses postpone consumer expenditures and expanding business operations.

The Obama Depression will last until 2012 with the real unemployment rate (U-6) remaining at or above 15% and the official unemployment rate (U-3) remaining at or above 9% with inflation starting to significantly increase in 2011. Both food and gasoline prices are already increasing.

Forget about the Flat Tax this would still require income tax returns and compliance cost over $300 billion.

Support the FairTax that replaces all Federal taxes including income, payroll, capital gains, gift and estate taxes with a national consumption sales tax.

The FairTax: It’s Time

What is the FairTax?

Q&A on the FAIRTAX pt.2

Tom Wright on the FairTax part 1

Tom Wright on the FairTax part 2

Tom Wright on the FairTax part 3

Tom Wright on the FairTax part 4

Tom Wright on the FairTax part 5

Tom Wright on the FairTax part 6

Tom Wright on the FairTax part 7

Tom Wright On The FairTax–Videos

Obama lied and the economy died.

President Obama is wrecking the economy, destroying jobs and killing the American dream by following a Cloward-Piven strategy that would make tens of millions of Americans dependent upon government.

The American people by a vast majority do not want to be dependent upon government nor do they want the size and scope of the Federal Government expanded.

The American people want to abolish the Federal income, payroll, estate and gift taxes and replace it with a national consumption sales tax–the FairTax.

The American people and business owners do not believe or trust Barack Obama.

The American people are giving President Obama and the progressive radical socialists in Congress and the Senate a vote of no confidence.

The result is a jobless recovery, if not a double dip recession or the Great Obama Depression.

Feldstein Says Risk of Recession Double-Dip Remains

What needs to be done?

The FairTax: It’s Time

Lugar Cosponsors the FairTax

Milton Friedman on Libertarianism (Part 4 of 4)

“If we cannot persuade the public that it is desirable to do these things, we have no right to impose them even if we had the power to do it.”

~ Milton Friedman

The Pronk Plan for A Peace and Prosperity Economy

1. Federal Tax Reform and End The Internal Revenue Service: The FairTax should  replace all Federal taxes and the Internal Revenue Service should be ended with all Internal Revenue records destroyed. A bureau of FairTax Revenues (FTR) would be established in the Department of the Treasury to both send monthly prebates to each American citizen and collect FairTax revenues from retailers and the states.

2. Government Spending: surplus budgets to pay down the National Debt by restricting fiscal year spending outlays to 80% of previous year’s  FairTax revenue collections with the remaining 20% of revenue collection to pay down the national debt.

3. Size and scope of the government: At least ten Federal Departments, many Federal agencies and hundreds of Federal programs should be closed down permanently. The number of Federal employees needs to be cut by at least 50%.

4. National Defense: Budget 5% of our nation’s gross domestic product for national defense, intelligence gathering, securing our borders and homeland security.

5. Foreign Affairs: End US involvement with the United Nations and bring all the troops home from abroad including from the countries of  Germany,  Italy, United Kingdom, Spain, Japan, South Korea,  Afghanistan,  Bahrain, Djibouti,  Iraq, Kuwait, Libya, and Qatar.

6. Social Security and Medicare: Transform them from a government controlled and operated system to an individual controlled and investment system where benefits are based upon payments into a person’s account and investment performance. All persons over the age of forty-five would have the option to remain under the existing Social Security and Medicare programs or go into the new individual controlled and owned  system. All persons under age forty-five would establish their own individual health insurance savings account, disability income and retirement savings accounts with a maximum contributions of twenty-five percent (25%) of their income per year. All persons over the age of sixty-five would continue to receive Social Security and Medicare Benefits.

7. Immigration: immigration law enforcement, illegal alien removal and deportation, and controlled and limited legal immigration. The number of legal immigrants each year would range from a minimum of 200,000 persons when the official unemployment rate exceeds eight percent (8%) to a maximum of 500,000 persons per year when the official unemployment rate is less than two percent (2%). All new citizens must speak, read and write English before becoming a United States citizen.

8. Promote competition in education: provide  all parents with  school vouchers that enable them to choose the school their children attend including home schooling and online schooling.

9. Health Care Reform: affordable, portable, individual, tax favored, and competitive health insurance plans and expanded health savings accounts.

10. End the Federal Reserve System and fiat paper money and  institute  a new gold/silver backed currency standard. Let money interest rates be determined in the market place and not controlled by a central bank.

11. End all Federal subsidies to businesses no matter what form the subsidies take.

12. Eliminate Federal Government regulations that put U.S. businesses at a competitive disadvantage.

13. Energy Independence: repeal all laws and regulations that are impeding the growth and expansion of US energy production including oil and gas exploration and refining and nuclear electrical power generation plant construction and operation.

14. Preserve, protect and defend the Constitution of the United States of America: appoint judges and public servants that will uphold their oaths.

The above Fourteen Issue Positions  should receive the support of the vast majority of the American people including Democrats, Republicans, Independents, Libertarians and others.

However, both the Democratic and Republican Party establishment would not support these Fourteen Issue Positions in their entirety.

The Tea Party movement must transform itself into a viable political party that is fundamentally different from both the Democratic and Republican parties.

The ruling political class and elites in Washington, D.C. are responsible for the economic, political and military mess the United States of America currently finds itself.

The warfare and welfare economy of every expanding collectivist government must be transformed into a peace and prosperity economy with a limited and constrained Constitutional republic.

American Citizens Alliance Party–A CAP On Government Spending, Taxes, Debt and Regulations-The Third Party Base–Tea Party Patriots–Videos

Battle of The Budget

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Eight Reasons Why Big Government Hurts Economic Growth

The Value Added Tax: A Hidden New Tax to Finance Much Bigger Government

What a VAT Means for the Economy

Ron Paul – THE FAIRTAX REVOLUTION

Why We Need a FAIR Tax?

“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government. “

~Thomas Jefferson

“The government’s view of the economy could be summed up in a few short phrases:  If it moves, tax it.  If it keeps moving, regulate it.  And if it stops moving, subsidize it.”

~Ronald Reagan

Background Articles and Videos

Why You’ve Never Heard of the Great Depression of 1920

Ron Paul on Taxes

March 2010 Libertarian Perspective part 1

March 2010 Libertarian Perspective part 2

March 2010 Libertarian Perspective part 3

Who Pays Income Taxes and how much? Tax Year 2007

Percentiles Ranked by AGI AGI Threshold on Percentiles Percentage of Federal Personal Income Tax Paid
Top 1% $410,096 40.42
Top 5% $160,041 60.63
Top 10% $113,018 71.22
Top 25% $66,532 86.59
Top 50% $32,879 97.11
Bottom 50% <$32,879 2.89
Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service

http://www.ntu.org/tax-basics/who-pays-income-taxes.html

Obamanomics – Pt 1 – Jeffrey Miron – Show-Me Institute

Obamanomics – Pt 2 – Jeffrey Miron – Show-Me Institute

Obamanomics – Pt 3 – Jeffrey Miron – Show-Me Institute

Obamanomics – Pt 4 – Jeffrey Miron – Show-Me Institute

Obamanomics – Pt 5 – Jeffrey Miron – Show-Me Institute

OBAMANOMICS EXPLAINED: Spreading the Wealth

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The American People March on Washington D.C.–August 28, 2010–At The Lincoln Memorial! Mark Your Calendar–Be There–Three Million Minimum–Join The Second American Revolution

Glenn Beck On Prosperity And The Perils of Progressivism

A Common Sense Political Agenda For A New Conservative and Libertarian Party: American Citizens Alliance Party (ACAP)–A CAP On Government Spending, Taxes, Debt and Regulations!

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

Third Party Time? Yes Provided You Have $10 Billion and 10 Years!

Cloward Piven

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America

Collectivism: Socialism, Communism, Progressivism and Fascism

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Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

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David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

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Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

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Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Read Full Post | Make a Comment ( None so far )

Barack Obama’s Progressive Radical Socialist Overreaching Agenda–A Bridge Too Far Left

Posted on March 30, 2010. Filed under: Blogroll, Communications, Cult, Culture, Economics, Employment, Federal Government, Films, Fiscal Policy, government, government spending, Immigration, liberty, Life, Links, media, Monetary Policy, Music, People, Philosophy, Politics, Rants, Raves, Strategy, Video, War, Wisdom | Tags: , , , , , , , |

A Bridge Too Far – Plan for Market Garden

Obama’s Next Outrageous Agenda For America !!!

When the progressive radical socialists are acting like tyrants and overreaching, I say let them.

The American people are outraged at what the Democratic Party has done already with Obama Care Less.

With over 30 million Americans searching for a full time job, please let them try to pass a comprehensive immigration bill or amnesty for illegal aliens.

What’s Next – Roy Beck – NumbersUSA

Immigration Gumballs

Combine a amnesty bill with information as to what is really in the Obama Care Less bill, and Democrats will be losing big time come November.

Michael Savage – High Crimes and Misdemeanors – Where are the WMD’s?!!

Obama is losing his cool as his popularity declines.

Seven more months of even higher unemployment rates and President Obama is a lame duck.

Many Americans have already stopped listening to Barack Obama.

The daily lies of the President are hard to hide.

narcissistic lies in under 2 minutes

Obama Double Talk, Caught In A Lie, Illegals and Healthcare Health Care, Immigration Reform Fox

Both radio talk show hosts and their callers have all pointed this out repeatedly.

The American people no longer believe or trust Barack Obama.

President Obama will be defeated by a large margin in 2012.

Obama still doesn’t get it. What an arrogant buffoon

A Bridge Too Far – The German “Surrender”

A Bridge Too Far Ending

Background Articles and Videos

Stop Amnesty for Illegal Immigrants – Expert Reveals the True Cost of Amnesty

Immigration Policy and the Economic Impact of Immigration

Related Posts On Pronk Palisades

Cloward Piven

Massive Budget Deficit Spending, National Debt and Tax Increases–Obama Successful Cloward-Piven Strategy–Over 30 Million Seek Jobs and Food Stamps or SNAP!

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America

Collectivism: Socialism, Communism, Progressivism and Fascism

The Battle For The World Economy–Videos

Walter Block–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Immigration

American Citizens Want Jobs and Criminal Alien Removal, Not Criminal Alien Census and Health Care!

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Discover The Left’s Organized Crime Network–Crime Pays–Organized Crimes Pays More–Apply for Census Taker Jobs!

US Immigration Videos

Borderline Chaos: Immigration Out of Control–Videos

The Hyphenated American and The Hyphen

The Signed “Stimulus Package” Did Not Include Funding for E-Verify and Border Fence Construction–Less Jobs And Security for American Citizens

President Obama Delays E-Verify–Shame On You Mr. President!

The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

John McCain’s Position on Illegal Immigration and Criminal Alien Removal?

Alan Keyes on Immigration

Read Full Post | Make a Comment ( None so far )

Massive Budget Deficit Spending, National Debt and Tax Increases–Obama Successful Cloward-Piven Strategy–Over 30 Million Seek Jobs and Food Stamps or SNAP!

Posted on March 29, 2010. Filed under: Blogroll, Communications, Economics, Employment, Energy, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Immigration, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Security, Taxes, Technology, Transportation, Video, War, Wisdom | Tags: , , , , |

The Cloward/Piven Strategy 1

The Cloward/Piven Strategy 2

The Cloward/Piven Strategy 3

The Cloward/Piven Strategy 4

The Cloward/Piven Strategy 5

The Cloward/Piven Strategy 6

Background Articles and Videos

 

With health bill, Obama has sown the seeds of a budget crisis

 

“…Should the United States someday suffer a budget crisis, it will be hard not to conclude that Obama and his allies sowed the seeds, because they ignored conspicuous warnings. A further irony will not escape historians. For two years, Obama and members of Congress have angrily blamed the shortsightedness and selfishness of bankers and rating agencies for causing the recent financial crisis. The president and his supporters, historians will note, were equally shortsighted and self-centered — though their quest was for political glory, not financial gain.

Let’s be clear. A “budget crisis” is not some minor accounting exercise. It’s a wrenching political, social and economic upheaval. Large deficits and rising debt — the accumulation of past deficits — spook investors, leading to higher interest rates on government loans. The higher rates expand the budget deficit and further unnerve investors. To reverse this calamitous cycle, the government has to cut spending deeply or raise taxes sharply. Lower spending and higher taxes in turn depress the economy and lead to higher unemployment. Not pretty. …”

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/28/AR2010032802353.html

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The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America

Collectivism: Socialism, Communism, Progressivism and Fascism

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Walter Block–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

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The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

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Murray Rothbard–Libertarianism–Video

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Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

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Tom Woods–Smashing Myths and Restoring Sound Money–Videos

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Discover The Left’s Organized Crime Network–Crime Pays–Organized Crimes Pays More–Apply for Census Taker Jobs!

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The Signed “Stimulus Package” Did Not Include Funding for E-Verify and Border Fence Construction–Less Jobs And Security for American Citizens

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The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

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John McCain’s Position on Illegal Immigration and Criminal Alien Removal?

Alan Keyes on Immigration

 

 

 

Read Full Post | Make a Comment ( None so far )

824,000 Jobs To Disappear February 5, 2010–Black Friday–The Obama Depression Even Worse!

Posted on February 3, 2010. Filed under: Blogroll, Climate, Communications, Computers, Demographics, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Resources, Security, Talk Radio, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , |

U.S. May Lose 824,000 Jobs as Employment Data Revised: Analysis

“…The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time. …”

http://www.bloomberg.com/apps/news?pid=20601109&sid=aNSc0oQ0vb4M&pos=10

See Graphic On Revised Data on Bloomberg

http://www.bloomberg.com/insight/birth-death-model.html

The revised numbers are for April 2008 through March 2009 and will not be reflected in the January 2009 unemployment statistics published by the Bureau of Labor Statistics.

For the entire period  April 2008 through March 2009 the original number of of jobs lost was 4,800,000 will be revised upward to 5,600,000.

Of the 824,000 jobs lost during the April 2008 though March 2009 most of the jobs were lost from October 2008 through March 2009.

The business birth/death model used to generate the revision has resulted in 990,000 additional jobs from April 2009 through December 2009.

Will the business closings that resulted in the revisions have the same impact next year and result in a million job loss?

We have to wait until Febuary 2011 to learn what the adjustments to the unemployment and job data for  the months of April 2009 through March 2010.

I still expect the U-3 official unemployment rate to increase from 10.0% to 10.2% for January 2010.

In twelve months I expect the April 2009 through March 2010 to all be adjusted to reflect the fact that business are still closing and more jobs are being lost than created by new business births.

This appears to be partially confirmed by former Secretary of Labor Robert Reich comments on the unemploymnet rate in the video below.

Keep in mind that the real unemployment rate as measured by U-6 is over 17% with over 26,000,000 million Americans seeking full time work.

This is more than double the number of unemployed Americans seeking full time employment during the worse month of the Great Depression, March 1933.

The Obama Depression is still getting worse in terms of its duration and its impact in terms of the numbers of Americans unemployed.

Robert Reich: Expect 10% Unemployment Until 2011

Background Articles and Videos

Issues in Labor Statistics: How the Business Birth/Death Model
Improves Payroll Employment Estimates
 
 

  http://www.bls.gov/opub/ils/pdf/opbils70.pdf

Bureau of Labor Statistics
October 3, 2008

 

CES Birth/Death Model Frequently Asked Questions

Q: Do the birth/death factors vary from first preliminary to final estimate?

A: The birth/death factor for a given month does not change between 1st preliminary, 2nd preliminary, and final sample-based estimates.

Q: Are birth/death factors seasonally adjusted?

A: No, they are calculated using population data that is not seasonally adjusted and the factors are applied to the sample-based not seasonally adjusted estimates.  Months with generally strong seasonal increases such as April, May and June generally have a relatively large positive factor.  Conversely, months with overall strong seasonal decreases, such as January, generally have a relatively large negative factor.

Q: Can I subtract the birth/death adjustment from the seasonally adjusted over-the-month change to determine what it is adding to employment?

A: No.  Birth/death factors are a component of the not seasonally adjusted estimate and therefore are not directly comparable to the seasonally adjusted monthly changes.  Instead, the birth/death factor should be assessed in the context of its effect on the not seasonally adjusted estimate.

Q: Can BLS provide an estimate of the contribution of the birth/death adjustment to the seasonally adjusted monthly payroll change? 

A: BLS does not calculate an estimate of the seasonally adjusted contribution of the birth/death model.  The sample, the imputation of business births using deaths, and the net birth/death model are all necessary components for obtaining an accurate total employment estimate.  The components are not seasonally adjusted separately because they do not have any particular economic meaning in and of themselves.

Q: How frequently are the birth/death figures revised and why do the values change?

A: Birth/death numbers are revised once a year with the benchmark revision.  There are two reasons that the birth/death values change with the update.  First, each year another 12 months of data are added to the historical series used in fitting the models.  As a result of the additional data, the models provide updated results.  Secondly, in general the amount of birth/death required is of a larger magnitude the further the reference month is from the benchmark.  As a result one model is used to provide birth/death values for the first 12 reference months after the benchmark month, and the second model is used for providing birth/death values for 13 to 21 months from the benchmark.  As an example, the first preliminary estimate for June 2003 was produced on the March 2002 Benchmark using a second year model.  When the March 2003 Benchmark was implemented, the June 2003 birth/death factor came from a first year model.

Q: How long has CES been using the birth/death factors and is the history of birth/death available?

A: Implementation of the birth/death factors was associated with the implementation of a new probability-based sample design and estimator.  The new methodology was phased in gradually under the following schedule:  Beginning in June 2000 (with March 1999 Benchmark), Wholesale Trade on an SIC-basis was under the new methodology; in June 2001 (with the March 2000 Benchmark), Mining, Construction, and Manufacturing, on an SIC-basis, were added; in June 2002 (with the March 2001 Benchmark), all of Total Private with the exception of Services were under the new methodology; with the conversion to NAICS in June 2003 (with the March 2002 Benchmark), all of the Total Private industries were produced under the new methodology.

Historical Birth/Death factors are available at www.bls.gov/ces/cesbdhst.htm.

Q: Were estimates purely sample based before 2003?

A: No, prior to the implementation of birth/death modeling, CES used a technique known as bias adjustment to account for business births, business deaths, and other limitations of the survey.

Last Modified Date: May 6, 2008

http://www.bls.gov/ces/cesbdqa.htm

Shrinking U.S. Labor Force Keeps Unemployment Rate From Rising

“…An exodus of discouraged workers from the job market kept the U.S. unemployment rate from climbing above 10 percent in December, economists said.

Had the labor force not decreased by 661,000 last month, the jobless rate would have been 10.4 percent, according to economists including David Rosenberg at Gluskin Sheff & Associates in Toronto and Harm Bandholz at UniCredit Research in New York.

“The actual unemployment rate is higher than shown by the official numbers,” Bandholz said yesterday after a Labor Department report released in Washington showed the economy unexpectedly lost 85,000 jobs in December while the jobless rate was unchanged.

About 1.7 million Americans opted out of the workforce from July through December, representing a 1.1 percent drop that marks the biggest six-month decrease since 1961, the Labor Department report showed. The share of the population in the labor force last month fell to the lowest level in 24 years.

December’s 10 percent unemployment rate matched the median forecast of economists surveyed by Bloomberg News. It was shy of the 26-year high of 10.1 percent reached two months earlier. …”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aHA4PMI1G2ks

First-time jobless claims rise unexpectedly

New jobless claims rise unexpectedly to 480,000 as layoffs continue, jobs remain scarce

By Christopher S. Rugaber

“… The Labor Department said Thursday that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000, according to Thomson Reuters.

The four-week average, which smooths fluctuations, rose for the third straight week to 468,750.

The figure is the highest in the past two months. Initial claims dropped sharply in late December, raising hopes among economists that layoffs were nearing an end and the economy would soon start generating net gains in jobs.

The figures come a day before the Labor Department is scheduled to report the January employment figures, which are expected to show a tiny gain in jobs. The unemployment rate is forecast to rise to 10.1 percent.

The number of people continuing to claim benefits was unchanged at 4.6 million. That data lags initial claims by a week.

But the so-called continuing claims do not include millions of people who have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government.

More than 5.8 million people were receiving extended benefits in the week ended Jan. 16, the latest data available, up from about 5.6 million the previous week. The extended benefit data isn’t seasonally adjusted and is volatile from week to week.

Still, the increasing number of people claiming extended unemployment …”

http://finance.yahoo.com/news/Firsttime-jobless-claims-rise-apf-106391038.html?x=0&.v=8

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The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Bureau of Labor Statistics–Selected Tables on Labor Force Statistics from the Current Population Survey

Job Creating Businesses and CIT–Videos

President Barack Obama Beats It–President Franklin Roosevelt Record–Worse Unemployment Numbers Since 1933–14,700,000 Unemployed Americans Greater than 13,000,000 in 1933!

The Obama Depression (OD) Starts July 4, 2009–30 Million Americans March To Tea Parties In Washington D.C. and Over 1,000 Cities and Towns Across America!

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

Bill Gates–Hope, Change and Rapid Affluence Development–Creative Capitalism!

 

Read Full Post | Make a Comment ( None so far )

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Posted on January 6, 2010. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Raves, Regulations, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , |

 “The comparatively greater prosperity of the United States is an outcome of the fact that the New Deal did not come in 1900 or 1910, but only in 1933.”

~Ludwig von Mises, Planning for Freedom, page 136.

Great Depression vs. Today – New Deal or Raw Deal? – Rooseveltism vs. Obamaism

Glenn Beck – Road to Socialism: Yaron Brook, Ayn Rand Center

Tom Woods on Glenn Beck “Meltdown” 02/09/2009

Book TV: Burton Folsom “New Deal or Raw Deal?”

http://www.youtube.com/watch?v=Zis7sxCfooM

Jim Powell Parses the New Deal on C-SPAN (1 of 2)

Jim Powell Parses the New Deal on C-SPAN (2 of 2)

Why You’ve Never Heard of the Great Depression of 1920

A Recipe for the Next Great Depression

Unemployment: The 1930s and Today

Uncommon Knowledge: The Great Depression with Amity Shlaes

Amity Shlaes’ “The Forgotten Man” 1

Amity Shlaes’ “The Forgotten Man” 2

Amity Shlaes’ “The Forgotten Man” 3

Amity Shlaes’ “The Forgotten Man” 4

Amity Shlaes’ “The Forgotten Man” 5

Amity Shlaes’ “The Forgotten Man” 6

Amity Shlaes’ “The Forgotten Man” 7

The Great Depression and the Current Recession (Part 1 of 9)

The Great Depression and the Current Recession (Part 2 of 9)

The Great Depression and the Current Recession (Part 3 of 9)

The Great Depression and the Current Recession (Part 4 of 9)

The Great Depression and the Current Recession (Part 5 of 9)

The Great Depression and the Current Recession (Part 6 of 9)

The Great Depression and the Current Recession (Part 7 of 9)

The Great Depression and the Current Recession (Part 8 of 9)

The Great Depression and the Current Recession (Part 9 of 9)

“The cyclical fluctuations of business are not an occurrence originating in the sphere of the unhampered market, but a product of government interference with business conditions designed to lower the rate of interest below the height at which the free market would have fixed it.”

~Ludwig von Mises, Human Action, pages 562 and 565.

Among liberal and progressive radical socialists the late President Franklin D. Roosevelt was and is now considered one of the top three greatest Presidents that ever lived in the same class as George Washington and Abraham Lincoln.

Read American historians, who also are mostly liberals and progressives and whose knowledge of economics is as limited or even more limited than President Roosevelt, they too believe in the greatness of FDR.

This legend is the biggest myth or more precisely lie ever told and endless repeated.

Franklin D. Roosevelt was simply the worse President the United States has ever had in terms of the impact his economic policies had on the American economy and American people.

If you doubt this, I strongly recommend you read all of the above books.

What is so disturbing and very dangerous is that one of Barack Obama Presidential role models is Franklin Roosevelt.

President Obama  has surrounded himself with economic and political advisors who are progressive radical socialists that actually believe that repeating FDR’s economic policies would be a good for the country.

Thus the massive bailouts, stimulus packages, massive budget deficits, huge increases in the national debt, proposed new tax increases including the Cap and Trade Energy Tax,  letting the Bush tax cuts expire in 2010, and the new health care bill forcing people to buy health insurance or pay a tax fine.

Barack Obama and Franklin D. Roosevelt have many characteristics in common.

Both were educated at Harvard and Columbia Universities.

Both were excellent readers of prepared speeches.

Both were habitual liars.

Both were great believers in class warfare on businesses and the rich with very high progressive  income tax rates while at the same time imposing  hidden very regressive excise taxes on low and middle income Americans.

Both were ignorant of economics. job and wealth creation

Both destroyed jobs and wrecked the U.S. economy.

Good intentions are not enough.

Results count.

President Obama is intentionally repeating the economic mistakes of President Roosevelt that will destroy both free market capitalism and democracy and lead to a totalitarian command and control socialist economy.

I hope President Obama fails early and often and is a one term President that in the process destroys the Democratic Party of progressive radical socialists.

With over 25,000,000 Americans seeking fully time employment, repeating the mistakes of Keynesian government interventist economic policies that have repeatedly failed in country after country will only prolong the duration of the  Obama Depression.

Republican and Democratic Presidents, in the past and present, Hoover and Roosevelt, and Bush and Obama, have failed the American people by implementing massive government intervention in the free market capitalist economy.

Read and listen to economist Thomas Sowell on President Obama’s economic policies using Roosevelt as a model:

Thomas Sowell on the Housing Boom and Bust

Thomas Sowell – Obama’s Economic Policy

“Those who do not remember the past are condemned to repeat it.”

~George Santayana

Background Articles and Videos

Glen Beck with Thomas Sowell Part 1

Glenn Beck with Thomas Sowell Part 2

The Myth of War Prosperity [Robert Higgs]

 

Monetary Lessons from America’s Past

Does Bernanke Have an Exit Strategy?

Tom Woods at UNH 110609

Scholar survey results

Green backgrounds indicate top quartile. Red backgrounds indicate bottom quartile.

No  ↓ President  ↓ Schlesinger 1948 poll rank  ↓ Schlesinger 1962 poll rank  ↓ 1982 Murray-Blessing survey  ↓ Chicago Tribune 1982 poll rank  ↓ Siena 1982 poll rank  ↓ Siena 1990 poll rank  ↓ Siena 1994 poll rank  ↓ Ridings- McIver 1996 poll rank  ↓ CSPAN 1999 poll rank  ↓ Wall Street Journal 2000 poll rank  ↓ Siena 2002 poll rank  ↓ Wall Street Journal 2005 poll rank  ↓ CSPAN 2009 poll rank  ↓
Total in survey 29 31 36 38 39 40 41 41 41 39 42 40 42
01 Washington George Washington 02 02 03 03 04 04 04 03 03 01 04 01 02
02 Adams, John John Adams 09 10 09 14 (tie) 10 14 12 14 16 13 12 13 17
03 Jeff Thomas Jefferson 05 05 04 05 02 03 05 04 07 04 05 04 07
04 Mad James Madison 14 12 14 17 09 08 09 10 18 15 09 17 20
05 Mon James Monroe 12 18 15 16 15 11 15 13 14 16 08 16 14
06 Adams, John Q John Quincy Adams 11 13 16 19 17 16 17 18 19 20 17 25 19
07 Jack Andrew Jackson 06 06 07 06 13 09 11 08 13 06 13 10 13
08 Van B Martin Van Buren 15 17 20 18 21 21 22 21 30 23 24 27 31
09 Harrison, W William Henry Harrison  –  –  – 38 26 35 28 35 37  – 36  – 39
10 Tyle John Tyler 22 25 28 29 34 33 34 34 36 34 37 35 35
11 Polk James K. Polk 10 08 12 11 12 13 14 11 12 10 11 09 12
12 Tay Zachary Taylor 25 24 27 28 29 34 33 29 28 31 34 33 29
13 Fil Millard Fillmore 24 26 29 31 32 32 35 36 35 35 38 36 37
14 Pier Franklin Pierce 27 28 31 35 35 36 37 37 39 37 39 38 40
15 Buc James Buchanan 26 29 33 36 37 38 39 40 41 39 41 40 42
16 Linc Abraham Lincoln 01 01 01 01 03 02 02 01 01 02 02 02 01
17 Johnson, A Andrew Johnson 19 23 32 32 38 39 40 39 40 36 42 37 41
18 Gran Ulysses S. Grant 28 30 35 30 36 37 38 38 33 32 35 29 23
19 Hay Rutherford B. Hayes 13 14 22 22 22 23 24 25 26 22 27 24 33
20 Gar James Garfield  –  –  – 33 25 30 26 30 29  – 33  – 28
21 Art Chester A. Arthur 17 21 26 24 24 26 27 28 32 26 30 26 32
22/24 Cle Grover Cleveland 08 11 17 13 18 17 19 16 17 12 20 12 21
23 Harrison, B Benjamin Harrison 21 20 23 25 31 29 30 31 31 27 32 30 30
25 McK William McKinley 18 15 18 10 19 19 18 17 15 14 19 14 16
26 Roosevelt, T Theodore Roosevelt 07 07 05 04 05 05 03 05 04 05 03 05 04
27 Taf William Howard Taft 16 16 19 20 20 20 21 20 24 19 21 20 24
28 Wilson Woodrow Wilson 04 04 06 07 06 06 06 06 06 11 06 11 09
29 Harding Warren G. Harding 29 31 36 37 39 40 41 41 38 37 40 39 38
30 Cool Calvin Coolidge 23 27 30 27 30 31 36 33 27 25 29 23 26
31 Hoov Herbert Hoover 20 19 21 21 27 28 29 24 34 29 31 31 34
32 Roosevelt, F Franklin D. Roosevelt 03 03 02 02 01 01 01 02 02 03 01 03 03
33 Truman Harry S. Truman  – 09 08 08 07 07 07 07 05 07 07 07 05
34 Eisen Dwight D. Eisenhower  – 22 11 09 11 12 08 09 09 09 10 08 08
35 Kennedy, J John F. Kennedy  –  – 13 14 (tie) 08 10 10 15 08 18 14 15 06
36 Johnson, L Lyndon B. Johnson  –  – 10 12 14 15 13 12 11 17 15 18 11
37 Nix Richard Nixon  –  – 34 34 28 25 23 32 25 33 26 32 27
38 Ford, G Gerald R. Ford  –  – 24 23 23 27 32 27 23 28 28 28 22
39 Carter Jimmy Carter  –  – 25 26 33 24 25 19 22 30 25 34 25
40 Reagan Ronald Reagan  –  –  –  – 16 22 20 26 10 08 16 06 10
41 Bush, George H George H. W. Bush  –  –  –  –  – 18 31 22 20 21 22 21 18
42 Clinton, B Bill Clinton  –  –  –  –  –  – 16 23 21 24 18 22 15
43 Bush, George W George W. Bush  –  –  –  –  –  –  –  –  –  – 23 19 36
44 Obama Barack Obama  –  –  –  –  –  –  –  –  –  –  –  –  –

 http://en.wikipedia.org/wiki/Historical_rankings_of_United_States_Presidents

Related Posts On Pronk Palisades

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

David Gordon–Five Best Books on the Current Crisis–Video

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Murray Rothbard–Videos

Rothbard On Keynes–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Read Full Post | Make a Comment ( None so far )

Time Man Of The Year–Money Cartel Chairman Of Federal Reserve System Ben Bernanke–Time Ignores Tea Party Americans–Buy Gold and Cancel Your Subscriptions!

Posted on December 16, 2009. Filed under: Blogroll, Communications, Economics, Homes, Investments, Law, liberty, Life, Links, Monetary Policy, People, Politics, Rants, Raves, Regulations, Video, Wisdom | Tags: , , , , , , , , , , , , , , |

 

~Ludwig von Mises

“The development of a profession of economists is an offshoot of interventionism. The professional economist is the specialist who is instrumental in designing various measures of government interference with business. He is an expert in the field of economic legislation, which today invariably aims at hindering the operation of the market economy.”

Human Action, pages 865 and 869. 

“A sound monetary policy is one of the foremost means to thwart the insidious schemes of communism.”

Economic Freedom and Interventionism, page 106.

 

Time Magazine Names Bernanke ‘Person of the Year’

Bernanke: Time Person of the Year

http://www.youtube.com/watch?v=53yy0F4WjoU

 

Bernanke named TIME’s Person of the Year

 

Ron Paul reacts to Ben Bernanke being named TIME ‘Person of the Year’

Ben Bernanke: TIME Magazine Person of The Year

Glenn Beck Show – December 16, 2009 – Pt 1 of 8

Glenn Beck Show – December 16, 2009 – Pt 2 of 8

 

Glenn Beck Show – December 16, 2009 – Pt 3 of 8

Glenn Beck Show – December 16, 2009 – Pt 4 of 8

The Man of The Year, Fed Chairman Ben Bernanke was and  continues to be responsible for massive government intervention into the economy by an expansionary monetary policy that resulted in the housing and commercial real estate  bubbles and is now  prolonging the recession/depression and by 2012 will  lead to a significant decline in the purchasing power of the dollar with double digit  inflation. 

The Federal Reserve is creating another bubble with its expansionary credit monetary policy–a double bubble and an inflationary depression. 

The Dollar Bubble

The Peter Principle at work.

Glenn Beck is right.

The American people should have been selected as people of the year.

There are over 25,000,000 Americans seeking full time employment, more than double the number of unemployed Americans during the worse year of the Great Depression 1933.

The arrogance of the political class in Washington D.C. and their allies in big media knows no bounds.

While there is plenty of blame to go around as to the causes of this recession, the single entity that deserves a big piece of the blame is the Federal Reserve System under both Alan Greenspan and Ben Bernanke.

The Fed’s easy credit expansionary monetary policy fueled the housing and commercial real estate bubble.

The Fed’s lax regulation of large depositary institution that made imprudent investments in mortgage backed securities compounded this failure of government.

Both the Congress and Executive Branch did not stop the reckless investment policies of Fannie Mae and Freddie Mac.

The American people are suffering as a direct result of the failure of government intervention in the economy. Government intervention begets more government intervention to correct the mistakes of government meddling into the market place.

This government intervention is only made worse by more bailouts, stimulus spending and political payoffs to the friends and supporters of both political parties.

The bill for this failure of Federal Government intervention policies is being sent to the American people and their children, grandchildren, and great grandchildren. The interest on this deficit spending that results in more Government debt  is simply staggering.

The American people are mad as hell and are not going to put up with this gross, irresponsible and criminal behavior of the political elites of both political parties.

We are Fed Up!

Time Names Bernanke “Person of the Year” & Man Loses It in BofA Parking Lot!

There well be a day of reckoning.

Time to throw the bums out.

Broom them all.

Tea Party Interviews Bureaucrash Independence Day July 4 2009

~Ludwig von Mises

“The interests of the capitalists are scarcely ever represented in monetary policy.”

 The Theory of Money and Credit, page 414.

“Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.”

Omnipotent Government, page 44

9/12 Taxpayer Tea Party March on Washington, DC

POLICE ESTIMATE 1.2 MILLION PEOPLE MARCH ON 9/12 WASHINGTON DC TEA PARTY PROTEST OBAMA – CONGRESS


 

Background Articles and Videos

How TIME Picks Person of the Year

 

For Bernanke, Time’s Man of the Year: Honor or Curse?

By Michael Corkery

“…Federal Reserve Chairman Ben Bernanke is Time magazine’s Person of the Year – an annual rite dating back to 1927. Time has dubbed Bernanke the “overlord” of the global economy, who coolly steered the world away from economic disaster.

The first draft of history has generally been kind to Bernanke, who is expected to coast to a second term. But history has not always been kind to previous winners of the Time award. With unemployment at 10% and business lending dormant, Bernanke knows that the final chapters of the financial crisis are still being written.

Here are some People of the Year whose fortunes have changed not long after winning the award:

1939 and 1942: Stalin, the Soviet ruler was so influential he won the award twice. His efforts to bring together the far flung cultures and geographies of the Soviet Union through fear, intimidation and murder, were undone by his successors. …”

http://blogs.wsj.com/deals/2009/12/16/for-bernanke-times-man-of-the-year-honor-or-curse/

Glenn Beck Show – December 16, 2009 – Pt 5 of 8

Glenn Beck Show – December 16, 2009 – Pt 6 of 8

Glenn Beck Show – December 16, 2009 – Pt 7 of 8

Glenn Beck Show – December 16, 2009 – Pt 8 of 8

Related Posts On Pronk Palisades

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Frederic Bastiat–The Law–Videos

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Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

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Ludwig von Mises–Videos

Robert P. Murphy–Videos

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L. William Seidman on The Economic Crisis: Causes and Cures–Videos

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Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas E. Woods, Jr.–Videos

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Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Federal Reserve System

The Coming Inflation and A New Money Supply Backed By Real Estate?–Free Enterprise To The Rescue?

Richard Fisher–Inflation and Debt: The Interaction of Fiscal and Monetary Policy –Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos 

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

 

Ludwig von Mises Institute

Our Enemy, Inflation–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

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Read Full Post | Make a Comment ( 1 so far )

Can The American People Afford Three More Years Of The Progressive Radical Socialist Democratic Party Led By President Obama? Absolutely Not–Throw The Bums Out Next November!

Posted on December 14, 2009. Filed under: Blogroll, Climate, Communications, Economics, Education, Employment, Energy, Fiscal Policy, government spending, Health Care, Immigration, Investments, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Raves, Resources, Reviews, Security, Strategy, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , |

“Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management.”

~Ludwig von Mises

President Obama Job Approval

Polling Data

Poll Date Sample Approve Disapprove Spread
RCP Average 12/1 – 12/13 48.4 45.4 +3.0
USA Today/Gallup 12/11 – 12/13 1025 A 49 46 +3
Rasmussen Reports 12/11 – 12/13 1500 LV 44 55 -11
Gallup 12/11 – 12/13 1547 A 48 42 +6
FOX News 12/8 – 12/9 900 RV 50 44 +6
CBS News/NY Times 12/4 – 12/8 1031 A 50 39 +11
Bloomberg 12/3 – 12/7 1000 A 54 41 +13
Marist 12/2 – 12/7 858 RV 46 44 +2
Ipsos/McClatchy 12/3 – 12/6 1120 A 49 49 Tie
Quinnipiac 12/1 – 12/6 2313 RV 46 44 +2
CNN/Opinion Research 12/2 – 12/3 1041 A 48 50 -2

See All President Obama Job Approval Polling Data

http://www.realclearpolitics.com/epolls/other/president_obama_job_approval-1044.html#polls

FoxNews Opinion Dynamics Poll on Obama (FoxNews Dec 13 2009)

 

Unemployment’s Bottom Line

Neil Cavuto’s Common Sense – Fat Cat Bankers And Obama’s B+


 

Ron Paul “Let’s End the Fed” Speech (This Speech will be famous) 2/25/2009

Arguing with Idiots

 

Glenn Beck-12-11-09-A

 

Glenn Beck-12-11-09-B

 

Glenn Beck-12-11-09-C

 

Glenn Beck-12-11-09-D

 

Glenn Beck-12-11-09-F

 

Economic Collapse: Peter Schiff explains Obama’s false Chinese policy

 

Barack Obama on 60 Minutes

 

The Progressive Radical Socialists led by President Obama are destroying jobs, wrecking the economy and killing the American dream.

There are currently over 25,000,000 Americans seeking full time employment.

The official unemployment rate (U-3) is expected to exceed 10% throughout 2010.

The real unemployment rate (U-6) already exceeds 17% and in not expected to fall below  17% until 2011 at the earliest.

So what are the political “elites” in Washington D. C. proposing to do about job creation?

The Progressive Radical Socialists are trying to massively increase your taxes, increase government spending. deficits and the national debt and erode the purchasing power of the US dollar.

Vote out of office any Democrat or Republican representative or Senator that votes for the  new Health Care and Cap and Trade Energy tax bills and comprehensive immigration reform.

Abolish both the Environmental Protection Agency (EPA) and the Federal Reserve System.

The Federal Reserve and Congress caused the problem of a housing bubble by massive government intervention in expanding credit for housing mortgages and failing to regulate the investment activities of commercial, investment and mortgage bankers.

Shut them down now, before it is too late.

The political elites of both parties are fast becoming tyrants in their disregard of what is in the best interest of the American people.

The political elites only concern are how to control your lives and how  to stay in power or office.

The political elites  could care less that their proposed health care and energy tax bills would put several million more Americans out of work.

Throw these corrupt bums out of office in November 2010, 2012, and 2014.

When in doubt–throw them out.

LOL

the Government is Incompetent…

The Poll Numbers Slip Sliding Away

“There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.”

~Ludwig von Mises

Background Articles and Videos

Daily Presidential Tracking Poll

December 14, 2009

“…The Rasmussen Reports daily Presidential Tracking Poll for Monday shows that 24% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty-two percent (42%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -18.

That’s a one point improvement from yesterday when Obama’s Approval Index rating fell to the lowest level yet recorded. Prior to the past three days, the Approval Index had never fallen below -15 during Obama’s time in office (see trends).

As the health care plan struggles in the Senate, public opposition remains stable. Fifty-six percent (56% ) oppose the plan working its way through Congress while just 40% favor it. In Nevada, the health care bill is causing problems for Senate Majority Leader Harry Reid’s bid for re-election.

The Presidential Approval Index is calculated by subtracting the number who Strongly Disapprove from the number who Strongly Approve. It is updated daily at 9:30 a.m. Eastern …”

http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

Health Care Reform

40% Support Health Care Plan, 56% Oppose It

“…Fifty-six percent (56%) of U.S. voters now oppose the health care plan proposed by President Obama and congressional Democrats. That’s the highest level of opposition found – reached three times before – in six months of polling.

The latest Rasmussen Reports national telephone survey finds that just 40% of voters favor the health care plan.

Perhaps more significantly, 46% now Strongly Oppose the plan, compared to 19% who Strongly Favor it. …”

http://www.rasmussenreports.com/public_content/politics/current_events/healthcare/september_2009/health_care_reform

Why the Meltdown Should Have Surprised No One

 

Steele: ‘Let’s reduce the unemployment tax’

Jim Rogers America is Collapsing Part 1 of 5

 

Jim Rogers America is Collapsing Part 2 of 5

Jim Rogers America is Collapsing Part 3 of 5

Jim Rogers America is Collapsing Part 4 of 5

Jim Rogers America is Collapsing Part 5 of 5

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Irresponsible Government Intervention Results In Huge and Continuing Government Failures–Shut Down Government Interventions–No More Bailouts!

 

Cloward Piven

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America 

 

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Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009!

Ben Bernanke

The Coming Inflation and A New Money Supply Backed By Real Estate?–Free Enterprise To The Rescue?

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

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The Great Depression and the Current Recession–Robert Higgs–Videos

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Rose Colored Glasses:The Economy Is Recovering–Where Are The Jobs? When Will Inflation Hit? 2012–Election Year!

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The Big Economic Picture–Some Perspectives–Videos

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously!

Barlett Boo Boos–Boortz Blasts Back

President Doom and Panic Obama’s Big Lie: More Government Spending Works and Tax Cuts Do Not Work 

 

Monetary Economic Policy

The Obama Depression: Lessons Learned–Deja Vu!

Rose Colored Glasses:The Economy Is Recovering–Where Are The Jobs? When Will Inflation Hit? 2012–Election Year!

The Coming Inflation and A New Money Supply Backed By Real Estate?–Free Enterprise To The Rescue?

The Battle Between Keynes and Monetarism in the UK–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

The Big Economic Picture–Some Perspectives–Videos

M3 Money Meteorite Moves–Deep Impact–The Coming Inflation Tidal Wave–Wage and Price Controls Will Signal Radical Socialist Obama’s Failure!

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Thomas E. Woods, Jr.–Videos

Bailed Out Bank Trillion Dollar Derivative Exposure

Banking–Videos

Creature from Jekyll Island: The Federal Reserve System–Videos

The Monopoly Men: The Federal Reserve Bank Cartel–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos 

 

Federal Reserve System

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Banking–Videos

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Ludwig von Mises Institute

Our Enemy, Inflation–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Murray Rothbard–Videos

Thomas E. Woods, Jr.–Videos

 

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

David Gordon–Five Best Books on the Current Crisis–Video

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand 

Read Full Post | Make a Comment ( None so far )

The Calm In The Eye Of Hurricane Barack–Official Unemployment Rate Declines From 10.2% to 10.0% and Real Unemployment Rate Declines From 17.5% to 17.2% In November–15,600,000 to 26,466,000 Americans Seeking A Full Time Job!

Posted on December 4, 2009. Filed under: Blogroll, Communications, Demographics, Economics, Fiscal Policy, Investments, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Resources, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , |

 

  


The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The Unemployment Game Show: Are You *Really* Unemployed?

Glenn Beck – Job Creation Or Wrecking Ball?

 

Romer Says U.S. Is on `Right Path’ to Jobs Recovery: Video

http://www.youtube.com/watch?v=kd_yYKYgOWo

 

Obama Hosts Jobs Summit

 

Rush Limbaugh – Obama Attacks Small Businesses – Pt1

Rush Limbaugh – Obama Attacks Small Businesses – Pt2

Rush Limbaugh on Liberalism and unemployment

The Road Ahead: Unemployment, Poverty and the Recession

Keynesian Economics is a Failure – Why is Obama trying it again? Repeal the Stimulus Package

 

Rupert Murdoch: Unemployment Will Reach 10 Or 11 Percent

Unemployment Statistics – John Williams on Economics 101

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 4.3 4.4 4.2 4.3 4.2 4.3 4.3 4.2 4.2 4.1 4.1 4.0  
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9  
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7  
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0  
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7  
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4  
2005 5.2 5.4 5.2 5.2 5.1 5.1 5.0 4.9 5.0 5.0 5.0 4.8  
2006 4.7 4.8 4.7 4.7 4.7 4.6 4.7 4.7 4.5 4.4 4.5 4.4  
2007 4.6 4.5 4.4 4.5 4.5 4.6 4.7 4.7 4.7 4.8 4.7 4.9  
2008 4.9 4.8 5.1 5.0 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2  
2009 7.6 8.1 8.5 8.9 9.4 9.5 9.4 9.7 9.8 10.2 10.0  

 

http://www.youtube.com/watch?v=kd_yYKYgOWo

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 7.7 7.7 7.6 7.6 7.4 7.5 7.5 7.3 7.4 7.2 7.1 7.1  
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.2 9.0 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.5  
2006 8.4 8.5 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.0 7.9  
2007 8.3 8.1 8.0 8.2 8.3 8.3 8.3 8.5 8.4 8.5 8.4 8.7  
2008 9.0 9.0 9.1 9.2 9.8 10.1 10.4 10.9 11.2 12.0 12.6 13.5  
2009 13.9 14.8 15.6 15.8 16.4 16.5 16.3 16.8 17.0 17.5 17.2  

 

Series Id:           LNS14000006
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Black or African American
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Race:                Black or African American
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 7.8 8.2 8.0 7.8 7.4 7.7 8.7 7.7 8.5 8.4 8.0 7.8  
2000 8.2 8.1 7.4 7.0 7.7 7.8 7.7 7.9 7.3 7.3 7.3 7.4  
2001 8.2 7.7 8.3 8.0 7.9 8.3 8.0 9.1 8.9 9.5 9.8 10.1  
2002 10.0 9.9 10.5 10.7 10.2 10.5 9.8 9.8 9.7 9.8 10.7 11.3  
2003 10.5 10.7 10.3 10.9 10.9 11.5 10.9 10.9 11.1 11.4 10.2 10.1  
2004 10.4 9.7 10.3 9.8 10.1 10.2 11.0 10.5 10.3 10.8 10.7 10.7  
2005 10.6 10.9 10.4 10.3 10.1 10.2 9.2 9.7 9.4 9.1 10.6 9.2  
2006 8.9 9.5 9.4 9.4 8.8 8.8 9.5 8.8 9.0 8.4 8.5 8.2  
2007 8.0 8.1 8.3 8.4 8.4 8.5 8.0 7.7 8.1 8.5 8.4 8.9  
2008 9.2 8.4 9.0 8.8 9.7 9.4 9.9 10.7 11.4 11.3 11.3 11.9  
2009 12.6 13.4 13.3 15.0 14.9 14.7 14.5 15.1 15.4 15.7 15.6

 

 http://data.bls.gov/cgi-bin/surveymost

Background Articles and Videos

Rush Limbaugh – Today Show (Part 1 of 2)

 

Rush Limbaugh – Today Show (Part 2 of 2)

 

Transmission of material in this release is embargoed            USDL-09-1479
until 8:30 a.m. (EST) Friday, December 4, 2009

Technical information:
Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  http://www.bls.gov/cps
Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  http://www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                         THE EMPLOYMENT SITUATION — NOVEMBER 2009

The unemployment rate edged down to 10.0 percent in November, and nonfarm
payroll employment was essentially unchanged (-11,000), the U.S. Bureau of
Labor Statistics reported today. In the prior 3 months, payroll job losses
had averaged 135,000 a month. In November, employment fell in construction,
manufacturing, and information, while temporary help services and health care
added jobs.

Household Survey Data

In November, both the number of unemployed persons, at 15.4 million, and the
unemployment rate, at 10.0 percent, edged down. At the start of the recession
in December 2007, the number of unemployed persons was 7.5 million, and the
jobless rate was 4.9 percent. (See table A-1.)

Among the major worker groups, unemployment rates for adult men (10.5 per-
cent), adult women (7.9 percent), teenagers (26.7 percent), whites (9.3 per-
cent), blacks (15.6 percent), and Hispanics (12.7 percent) showed little
change in November. The unemployment rate for Asians was 7.3 percent, not
seasonally adjusted. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of job losers and persons who completed tem-
porary jobs fell by 463,000 in November. The number of long-term unemployed
(those jobless for 27 weeks and over) rose by 293,000 to 5.9 million. The
percentage of unemployed persons jobless for 27 weeks or more increased by
2.7 percentage points to 38.3 percent. (See tables A-8 and A-9.)

The civilian labor force participation rate was little changed in November at
65.0 percent. The employment-population ratio was unchanged at 58.5 percent.
(See table A-1.)

The number of people working part time for economic reasons (sometimes re-
ferred to as involuntary part-time workers) was little changed in November
at 9.2 million. These individuals were working part time because their hours
had been cut back or because they were unable to find a full-time job. (See
table A-5.)

About 2.3 million persons were marginally attached to the labor force in
November, an increase of 376,000 from a year earlier. (The data are not sea-
sonally adjusted.) These individuals were not in the labor force, wanted and
were available for work, and had looked for a job sometime in the prior 12
months. They were not counted as unemployed because they had not searched
for work in the 4 weeks preceding the survey. (See table A-13.)

Among the marginally attached, there were 861,000 discouraged workers in
November, up from 608,000 a year earlier. (The data are not seasonally ad-
justed.) Discouraged workers are persons not currently looking for work be-
cause they believe no jobs are available for them. The remaining 1.5 mil-
lion persons marginally attached to the labor force had not searched for
work in the 4 weeks preceding the survey for reasons such as school attend-
ance or family responsibilities.

Establishment Survey Data

Total nonfarm payroll employment was essentially unchanged in November
(-11,000). Job losses in the construction, manufacturing, and information
industries were offset by job gains in temporary help services and health
care. Since the recession began, payroll employment has decreased by 7.2
million. (See table B-1.)

Construction employment declined by 27,000 over the month. Job losses had
averaged 117,000 per month during the 6 months ending in April and 63,000
per month from May through October. In November, construction job losses
were concentrated among nonresidential specialty trade contractors
(-29,000).

Manufacturing employment fell by 41,000 in November. The average monthly
decline for the past 5 months (-46,000) was much lower than the average
monthly job loss for the first half of this year (-171,000). About 2.1 mil-
lion manufacturing jobs have been lost since December 2007; the majority of
this decline has occurred in durable goods manufacturing (-1.6 million).

Employment in the information industry fell by 17,000 in November. About
half of the job loss occurred in its telecommunications component (-9,000).

There was little change in wholesale and retail trade employment in November.
Within retail trade, department stores added 8,000 jobs over the month.

The number of jobs in transportation and warehousing, financial activities,
and leisure and hospitality showed little change over the month.

Employment in professional and business services rose by 86,000 in November.
Temporary help services accounted for the majority of the increase, adding
52,000 jobs. Since July, temporary help services employment has risen by
117,000.

Health care employment continued to rise in November (21,000), with not-
able gains in home health care services (7,000) and hospitals (7,000). The
health care industry has added 613,000 jobs since the recession began in
December 2007.

In November, the average workweek for production and nonsupervisory workers
on private nonfarm payrolls rose by 0.2 hour to 33.2 hours. The manufacturing
workweek increased by 0.3 hour to 40.4 hours. Factory overtime rose by 0.1
hour to 3.4 hours. Since May, the manufacturing workweek has increased by
1.0 hour. (See table B-2.)

In November, average hourly earnings of production and nonsupervisory workers
on private nonfarm payrolls edged up by 1 cent, or 0.1 percent, to $18.74.
Over the past 12 months, average hourly earnings have risen by 2.2 percent,
while average weekly earnings have risen by 1.6 percent. (See table B-3.)

The change in total nonfarm payroll employment for September was revised from
-219,000 to -139,000, and the change for October was revised from -190,000 to
-111,000.

_____________
The Employment Situation for December is scheduled to be released on Friday,
January 8, 2010, at 8:30 a.m. (EST).

    ———————————————————————
   |                                                                     |
   |     Upcoming Changes to The Employment Situation News Release       |
   |                                                                     |
   |Effective with the release of January 2010 data on February 5, 2010, |
   |the U.S. Bureau of Labor Statistics will introduce several changes   |
   |to The Employment Situation news release text and tables. Two new    |
   |summary tables–one for the household survey and one for the estab-  |
   |lishment survey–will replace the current table A. In addition,      |
   |three new household data tables will provide information on the em-  |
   |ployment status of veterans, persons with a disability, and the for- |
   |eign born. Also, the establishment data tables have been largely re- |
   |designed to include information on all employee hours and earnings,  |
   |women workers, and production and nonsupervisory workers. The or-    |
   |dering and format of some tables also will change. Additional inform-|
   |ation is available at http://www.bls.gov/bls/upcoming_empsit_changes.htm.   |
   |                                                                     |
    ———————————————————————

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President Obama Leads The Progressive Radical Socialists In Intentionally Destroying Jobs, Killing The American Dream, and Wrecking Market Capitalism–Stop All New Federal Spending and Taxes!

Posted on November 19, 2009. Filed under: Blogroll, Communications, Demographics, Economics, Employment, Energy, Fiscal Policy, government spending, Health Care, Investments, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Reviews, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , , |

“The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.”

~Thomas Jefferson

Glenn Beck 11 19 09 part 1

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“A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.”

~Thomas Jefferson

 

Background Articles and Videos

To Create Jobs, Voters Say Cut Taxes and Stop Spending

“…As the policy debate has unfolded in Washington this year, voters have consistently believed that tax cuts would do more than increased government spending to stimulate the economy and create jobs. Now that the nation’s unemployment rate has reached 10.2%, voters continue to hold that view.

The latest Rasmussen Reports national telephone survey shows that 62% believe tax cuts are a better way to create jobs and fight unemployment. Only 21% believe that additional stimulus spending is a more effective tool. Earlier this year, as the first stimulus package was being debated in Congress, 62% of voters wanted the plan to have more tax cuts and less spending.

Given a different choice today, 51% believe canceling the rest of the stimulus money would create more jobs while 32% say spending the money would be the better approach to job creation. These findings are consistent with earlier polling. Most Americans say that, generally speaking, increased government spending is bad for the economy.  Earlier this year, before the unemployment rate had reached its current highs, 45% wanted to cancel the rest of the stimulus spending while just 36% disagreed. …”

http://www.rasmussenreports.com/public_content/business/economic_stimulus_package/november_2009/to_create_jobs_voters_say_cut_taxes_and_stop_spending

EDITORIAL: National debt projections should be wake up call for our lawmakers

“…This week both the White House and nonpartisan Congressional Budget Office issued reports painting a bleak portrait of our economy, not just for ourselves, not just for our children but for our grandchildren. The stunningly grim $9 trillion, 10-year national debt forecast, as far as we’re concerned, would seem to preclude any further discussions about adding yet another trillion or so dollars for health care reform, especially if it includes a public option. A recent poll indicates more than half of our nation opposes such legislation, especially if it means more debt.

While much of the deficit spending the next few years is caught up in recent spending such as the American Recovery and Reinvestment Act approved under President Barack Obama and earlier Wall Street bailouts approved under President George W. Bush, consider this: Much of the debt piling up after 2013 involves the rising costs inherent in Social Security, Medicare and Medicaid as baby boomers retire to their expected rewards.

How on earth can this be the time to add another entitlement program? Does anyone really believe the government’s claim that health care reform will pay for itself, especially when Social Security, Medicare and Medicaid almost certainly will force an overhaul of those programs and/or significantly higher taxes for most Americans? …”

http://www.wacotrib.com/opin/content/news/opinion/stories/2009/08/27/08272009wactopeditorial.html

An $800 Billion Mistake

By Martin Feldstein

“…As a conservative economist, I might be expected to oppose a stimulus plan. In fact, on this page in October, I declared my support for a stimulus. But the fiscal package now before Congress needs to be thoroughly revised. In its current form, it does too little to raise national spending and employment. It would be better for the Senate to delay legislation for a month, or even two, if that’s what it takes to produce a much better bill. We cannot afford an $800 billion mistake. …”

“…The problem with the current stimulus plan is not that it is too big but that it delivers too little extra employment and income for such a large fiscal deficit. It is worth taking the time to get it right.”

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/28/AR2009012802938.html

Peter Schiff on Budget Deficit National Debt and Economic Crisis

United States of Amercia Government

http://www.usa.gov/Agencies/Federal/Executive.shtml

http://www.federalbudget.com/

 

 http://www.scribd.com/doc/3015540/US-Budget-Deficit-or-Surplus-1960present

http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

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http://online.wsj.com/article/SB125119686015756517.html

Table S–3. BASELINE PROJECTION OF CURRENT POLICY BY CATEGORY 

1 (In billions of dollars) 

Totals 
2008  2009  2010  2011  2012  2013  2014  2015  2016  2017  2018  2019  2010- 2014  2010- 2019 
Outlays: 
Appropriated (“discretionary”) programs: 
Defense (050) including cost of overseas contingency operations  612  662  717  715  718  732  747  766  784  803  823  843  3,628  7,647 
Non-defense discretionary  508  584  681  639  607  595  597  608  622  637  652  667  3,118  6,304 
Subtotal, appropriated programs  1,120  1,246  1,397  1,353  1,325  1,326  1,344  1,374  1,407  1,440  1,474  1,509  6,746  13,950 
Mandatory programs: 
Social Security  612  677  702  729  755  792  837  886  939  997  1,060  1,128  3,814  8,825 
Medicare  386  425  452  497  507  565  631  650  720  751  780  871  2,652  6,425 
Medicaid  201  258  285  273  284  307  332  360  389  418  450  483  1,481  3,580 
Troubled Asset Relief Program (TARP) 

2

………  235  70  11  9  6  6  3  1  *  ………  ………  102  106 
Other mandatory programs  411  636  644  590  499  500  489  489  517  526  526  553  2,722  5,333 
Subtotal, mandatory programs  1,610  2,232  2,152  2,100  2,054  2,170  2,295  2,387  2,566  2,693  2,817  3,035  10,771  24,269 
Net interest  253  173  196  288  392  477  542  603  660  716  770  829  1,895  5,473 
Disaster costs 

3

………  2  8  15  18  20  22  24  26  27  29  30  83  220 
Total outlays  2,983  3,653  3,754  3,756  3,788  3,993  4,204  4,389  4,659  4,876  5,090  5,403  19,495  43,913 
Receipts: 
Individual income taxes  1,146  904  1,026  1,155  1,306  1,418  1,537  1,657  1,771  1,885  2,001  2,114  6,443  15,870 
Corporation income taxes  304  149  206  275  325  355  359  392  412  431  451  474  1,520  3,680 
Social insurance and retirement receipts: 
Social Security payroll taxes  658  653  661  699  734  775  823  866  919  958  1,003  1,045  3,691  8,482 
Medicare payroll taxes  194  190  189  202  214  227  241  254  270  282  294  307  1,074  2,481 
Unemployment insurance  40  40  50  62  72  76  78  79  77  76  72  73  339  715 
Other retirement  9  9  9  8  8  9  9  9  9  9  9  9  43  87 
Excise taxes  67  65  69  79  83  85  86  87  88  89  88  89  403  844 
Estate and gift taxes  29  26  19  23  24  26  27  29  31  33  36  38  119  286 
Customs duties  28  23  21  22  23  24  25  27  29  31  34  36  114  272 
Deposits of earnings, Federal Reserve System  34  27  39  41  43  43  46  48  49  51  53  55  211  468 
Other miscellaneous receipts  17  16  16  16  17  17  17  18  18  18  18  18  83  172 
Total receipts  2,524  2,102  2,305  2,583  2,850  3,055  3,249  3,464  3,671  3,863  4,059  4,258  14,041  33,357 
Deficit  459  1,552  1,449  1,173  939  938  955  925  988  1,013  1,031  1,145  5,454  10,555 
On-budget deficit  642  1,684  1,559  1,302  1,085  1,101  1,135  1,112  1,189  1,210  1,225  1,329  6,182  12,247 
Off-budget surplus (–)  –183  –133  –110  –128  –147  –163  –180  –188  –201  –197  –194  –184  –728  –1,692 

http://www.whitehouse.gov/omb/assets/fy2010_msr/10msr.pdf

http://blog.heritage.org/2009/07/29/which-chart-best-exposes-obamacares-true-impact-on-the-deficit/

http://keithhennessey.com/2009/06/22/orszags-health-spending-gap/

I.O.U.S.A. Bonus Reel: Social Security+Medicare Projections

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http://www.youtube.com/watch?v=O_TjBNjc9Bo

Stop Spending Our Future – The Crisis

 

$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?

Obama; Spending us into Oblivion. Why? – How do we pay off this Debt? – Glenn Beck Explains

Has the White House Gone Nuts?

MarketTamer.com: Credit Market Debt

U.S. National Debt Clock Real Time

http://www.usdebtclock.org/

CURRENCY COLLAPSE: Why The Government Won’t Act

CURRENCY COLLAPSE: Why The Government Won’t Act Part 2

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