The Fed, the White House and Congress Are Setting Up the Next Financial Bubble

Posted on October 16th, 2015

Financial help or Bombardmant from www.caglecartoons.com # 142648By Stephen Moore

My 13-year-old son told me at the dinner table the other day that Franklin Roosevelt was one of America’s “greatest presidents” because “he ended the Great Depression.” He’s usually a good student, so I checked where he got this tripe and sure enough the fairy tale was right there in his American history book.

Sure enough his text book tells kids that the New Deal ended the Great Depression and even saved capitalism. Of course the New Deal exacerbated the pain and financial devastation of a stock market crash, and unemployment lingered in double digits for a decade after Roosevelt was elected until the start of World War II.

We get this kind of rampant revisionism because the left writes the history books — which they are doing right now.

Here’s the latest story line: bailouts, trillions of dollars of government spending and debt, easy money, and re-regulation of Wall Street ended the 2008 Great Recession. The myth took on new life last week when Ben Bernanke took a bow in The Wall Street Journal for in his mind saving the economy with his $3 trillion of quantitative easing and zero interest rate policy. No, actually this is what created the crisis. Don’t be surprised if Mr. Bernanke receives a Nobel Peace Prize. Read More..

EU Diplomat: My Government ‘Believes Obama Is Quite Mentally Unwell’

Posted on October 15th, 2015

DID YOU KNOW? red Rubber Stamp over a white background. BasicBy Steve Watson

A former NSA intelligence analyst has claimed that a senior European diplomat told him that the entire government of a European country considers president Obama to be literally mentally unwell.

John Schindler, a security expert and whistleblower who now writes for The Daily Beast, has claimed that a senior EU official from an undisclosed country also inquired about impeachment proceedings, saying that the nation believes Obama is not fit for office.

The wording indicates that the opinion is not that of a single person, but rather the whole government of whichever European country the diplomat is from.

The following countries make up the European Union:

Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.

According to Schindler’s source, one of the governments of those nations considers Obama to be mentally unstable.    (my emphasis) Read More..

Jobs Report: Disappointment Is Routine With This Administration

Posted on October 14th, 2015

State of denial, unemployment, Obama, work forceBy Investor’s Business Daily

Friday’s jobs report has us feeling like Bill Murray in “Groundhog Day”: waking up morning after morning to the radio blaring Sonny and Cher’s “I’ve Got You Babe.”

We’ve lived through this over and over during the Obama presidency. Every time we see a hopeful sign that the economy’s shifting into a higher gear (a bullish 3.9% GDP growth in the second quarter, for example, after a near-recessionary 0.6% in the first), hiring slips back again into its slow-growth ditch.

No wonder voters are seething with anger.

Jobs rose by just 142,000 in September. But even that paltry gain was offset by 59,000 fewer jobs than originally reported for July and August. We need about 150,000 jobs just to keep up with natural population growth and new young entrants into the workforce.

Worse yet — and stop us if you’ve heard this before — another 350,000 Americans of working age disappeared from the labor force, bringing the total over age 16 not working to a record 94.6 million.

This is no accident; it’s policy-induced slow growth. Read More..

Obama Will Be the Only Person Sticking to Iran Deal

Posted on October 13th, 2015

Tick Tock Iran DealBy Amir Taheri

Sometime this week, President Obama is scheduled to sign an executive order to meet the Oct. 15 “adoption day” he has set for the nuclear deal he says he has made with Iran. According to the president’s timetable the next step would be “the start day of implementation,” fixed for Dec. 15.

But as things now stand, Obama may end up being the only person in the world to sign his much-wanted deal, in effect making a treaty with himself.

The Iranians have signed nothing and have no plans for doing so. The so-called Joint Comprehensive Plan of Action (JCPOA) has not even been discussed at the Islamic Republic’s Council of Ministers. Nor has the Tehran government bothered to even provide an official Persian translation of the 159-page text.

“Obama won’t do anything that might jeopardize the deal,” says Ziba Kalam, a Rouhani adviser. “This is his biggest, if not the only, foreign policy success.”

Nor have Britain, China, Germany, France and Russia, who were involved in the so-called P5+1 talks that produced the JCPOA, deemed it necessary to provide the Obama “deal” with any legal basis of their own. Obama’s partners have simply decided that the deal he is promoting is really about lifting sanctions against Iran and nothing else.

The Obama deal may end up as the biggest diplomatic scam in recent history. Read More..

Even Hillary Clinton’s Fans Don’t Believe a Thing She Says

Posted on October 13th, 2015

The end game Hillary lyingBy Jonah Goldberg

Hillary Clinton revealed on Wednesday that she opposes the Trans-Pacific Partnership trade deal, providing just the latest evidence that she is little more than political ambition wrapped in a pantsuit.

Pay attention to the press coverage, because it’s fascinating: Nobody takes Clinton at her word. I’m not just referring to her conservative critics.

Slate’s Jim Newell asks, “Will anyone find Clinton’s position convincing?” The question is purely rhetorical.

The article is headlined “Hillary Clinton Comes Out Against TPP, at Least Until the Democratic Convention.”

“Yes, Hillary Clinton’s new opposition to the Trans-Pacific Partnership trade accord cleans up something she needed to do before next week’s first Democratic debate. And, yes, it puts pressure on Vice President Joe Biden getting into the race (because he’d be on the only major candidate in support of TPP). But make no mistake: This flip-flop isn’t believable at all.”

Clinton had long touted TPP as “the gold standard” of trade deals. A tally by CNN in June found at least 45 instances where she had plumped, praised, pushed or otherwise promoted the agreement.
Read More..

Pleasant Surprise! U.S. Officials Conclude Iran Deal Violates Federal Law

Posted on October 9th, 2015

Iran deal survives Republican attacks Obama from www.caglecartoons.com # 168776By James Rosen

Some senior U.S. officials involved in the implementation of the Iran nuclear deal have privately concluded that a key sanctions relief provision – a concession to Iran that will open the doors to tens of billions of dollars in U.S.-backed commerce with the Islamic regime – conflicts with existing federal statutes and cannot be implemented without violating those laws, Fox News has learned.

At issue is a passage tucked away in ancillary paperwork attached to the Joint Comprehensive Plan of Action, or JCPOA, as the Iran nuclear deal is formally known. Specifically, Section 5.1.2 of Annex II provides that in exchange for Iranian compliance with the terms of the deal, the U.S. “shall…license non-U.S. entities that are owned or controlled by a U.S. person to engage in activities with Iran that are consistent with this JCPOA.”

In short, this means that foreign subsidiaries of U.S. parent companies will, under certain conditions, be allowed to do business with Iran. The problem is that the Iran Threat Reduction and Syria Human Rights Act (ITRA), signed into law by President Obama in August 2012, was explicit in closing the so-called “foreign sub” loophole.

Indeed, ITRA also stipulated, in Section 218, that when it comes to doing business with Iran, foreign subsidiaries of U.S. parent firms shall in all cases be treated exactly the same as U.S. firms: namely, what is prohibited for U.S. parent firms has to be prohibited for foreign subsidiaries, and what is allowed for foreign subsidiaries has to be allowed for U.S. parent firms.

What’s more, ITRA contains language, in Section 605, requiring that the terms spelled out in Section 218 shall remain in effect until the president of the United States certifies two things to Congress: first, that Iran has been removed from the State Department’s list of nations that sponsor terrorism, and second, that Iran has ceased the pursuit, acquisition, and development of weapons of mass destruction. Read More..

U.S. Chamber Plans $100 Million Campaign Against Conservatives

Posted on October 8th, 2015

WAIMH Red ArrowEDITOR’S COMMENT: My how things have changed, as in the past the Chamber of Commerce and the Republicans, in general, were in lockstep together promoting conservative principles. Now, it appears that the Chamber of Commerce, if not all its members, favor big government and government handouts. So, now we have the Republicans rather divided. Those representing the establishment, who tend to agree with the Chamber, are opposed to the more free-market, conservative, Tea Party individuals, who are completely opposed to the hand of big government and all its regulations.

By Mike Flynn

While many conservatives celebrate the abrupt resignation of Speaker Rep. John Boehner (R-OH), business groups backed by mega corporations are finalizing plans to neuter conservative lawmakers in 2016.

The U.S. Chamber will take the lead, planning to spend $100 million in 2016, a large portion of which will be devoted to defeat conservatives in Republican primaries.

Roll Call reports that “[s]ome of business’ top targets in 2016 will be right-wing, tea party candidates, the types that have bucked the corporate agenda in Congress.”

The $100 million the Chamber plans to spend this cycle is close to triple the amount the group spent in 2012, when President Obama was running for reelection. In 2014, when the Chamber launched its effort to attack conservatives in primaries, the group spent close to $70 million.

The evolution of the Chamber’s political spending goes a long way to explain the current dysfunction in Washington. The organization will devote $170 million to combat conservatives in primaries and support establishment Republicans in the general, but only around $30 million when Obama is running for reelection. Read More..

The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis.

Posted on October 7th, 2015

Dominoes fallingBy Michael Snyder

There has been so much attention on Greece in recent months, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment.  As you are about to see, there are 24 nations that are currently facing a full-blown debt crisis, and there are 14 more that are rapidly heading toward one. 

Right now, the debt to GDP ratio for the entire planet is up to an all-time record high of 286 percent, and globally there is approximately 200 TRILLION dollars of debt on the books.  That breaks down to about $28,000 of debt for every man, woman and child on the entire planet.  And since close to half of the population of the world lives on less than 10 dollars a day, there is no way that all of this debt can ever be repaid.  The only “solution” under our current system is to kick the can down the road for as long as we can until this colossal debt pyramid finally collapses in upon itself.

As we are seeing in Greece, you can eventually accumulate so much debt that there is literally no way out.  The other European nations are attempting to find a way to give Greece a third bailout, but that is like paying one credit card with another credit card because virtually everyone in Europe is absolutely drowning in debt.

Even if some “permanent solution” could be crafted for Greece, that would only solve a very small fraction of the overall problem that we are facing.  The nations of the world have never been in this much debt before, and it gets worse with each passing day. Read More..

France Threatens “Outright Termination” of TTIP Corporate Trade Negotiations

Posted on October 5th, 2015

TTIP CorporatocracyEDITOR’S COMMENT: Maybe the fight over this awful, middle-class-devastating treaty isn’t over after all. Obama was able to bambooozale the U.S. Congress but several other nations are resisting for different reasons. France seems to be a big obstacle at the moment.

By Cassius Methyl

In a recent development with multinational trade agreements, France threatened to walk out on Transatlantic Trade and Investment Partnership (TTIP) negotiations this week. France is frustrated with the United States’ unwillingness to budge on issues, most notably the issue of secrecy within negotiations.

France’s junior trade minister, Matthias Fekl, is threatening “outright termination” of France’s involvement in the partnership, saying “total lack of transparency” in negotiations constitutes a “democratic problem.”

In an interview on Monday with French newspaper Sud-Ouest, Matthias Fekl said,

Europe has offered many compromises, in all areas, and has received no serious offers from the Americans in return. Neither for access to their public markets, nor for access to their agricultural and food markets, which remain closed.

According to Fekl, the United States must modify their position or face consequences. One of their main concerns is that the deal is highly secretive. According to Fekl, U.S. officials have access to more information than European officials and there is a serious lapse in communications. Read More..

Putin Targets US Monetary System: “Aims to Eliminate the US Dollar and the Euro From Trade”

Posted on September 30th, 2015

Dollars FallingBy Max Slavo

Last year Russia began unloading massive amounts of their US dollar reserves. In the month of December 2014 alone Putin sold some 20% of the country’s U.S. Treasurys, a move that further increased tensions surrounding what can only be described as economic warfare between East and West.

Then, as if part of a coordinated effort, this summer it was revealed that China had implemented a similar strategy, dumping half a trillion in dollar denominated assets.

But that’s just the beginning of the end for the US dollar. Amid a major meltdown in Chinese stock markets the People’s Republic sold off billions in dollar assets last week in what was reported to be an effort to stabilize their collapsing financial markets.

And now, as Russia’s economy collapses under the weight of American and European sanctions, including what many believe to be widespread downward manipulation of oil prices, Vladimir Putin is sending a clear signal to the central bank of the world’s reserve currency.

A new bill drafted by the President of the Russian Federation aims to completely eliminate the US dollar from the trade of goods: Read More..

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