1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus
(CNSNews.com) – Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed.
In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.
http://cnsnews.com/news/article/after-28-months-stimulus-spending-19-mil
9 TRILLION Dollars Missing from Federal Reserve
Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs
Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month.
Only the stimulus bill to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates enacted in 2008 have been voted on by lawmakers. The remaining $8 trillion is in lending programs and guarantees, almost all under the Fed and FDIC. Recipients’ names have not been disclosed.
“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
For those of you who are not entirely sure what all of this means, we should start by pointing out the elephant in the room. The Federal Reserve Bank is not part of the Federal government. They are a privately owned bank, no more Federal than FedEx. They have no obligation whatsoever to the will or the interests of the voter despite the fact that they dominate every facet of our financial lives. Now it is true, that the Federal government has imposed some token oversight of Fed Res Bank. The person in charge of that oversight is that lady you just saw in the video who had no flipping clue where $9 TRILLION of your tax dollars have gone.
If all this economic stuff confuses you in any way, I cannot impress upon you enough how important it is to understand how the economy actually works. You will be shocked to learn how simple it really is actually. Forget the big fancy words and complex mathematical principals. In the video linked below, you will learn in 47 minutes what most economic students never learned in years of advanced study. I mean it, watch the video, and then ask yourself why you never saw this video in high school...
Vampire Economics
Worried about the economy? Dollars not going as far as they used to? Well, you're certainly not alone in your sentiments. Yet everyone seems to have an explanation, or a reason why it is like this, often blaming their neighbors for the economic woes of the world, rather than the folks who operate a terminally flawed economic system. Don't expect things to get better anytime soon. Under our current economic structure, collapse is a mathematical certainty. When exactly it will happen, and how the collapse will be managed are anyone's guess. But who will benefit? The very few who implemented this system, and no one else. Even if you are still comfortable, and not really feeling the economic pinch yet, have no fear, the check is in the mail. You are not immune from the woes that others are feeling now through little fault of their own.
If you think you understand how the economy works, think again. Very few people actually do, so don't be ashamed, and don't be blinded by arrogance thinking that you are special and that you actually do know better than most people. We all think that. Sure, you may have taken a few economics classes in school, but you were never taught the bare-bones truth of how our economy works. So please, take the next 47 minutes to watch the following video. It affects each and every last one of us. You might very well agree that this is hands down the single most important and eye-opening educational video of our time.
http://msmreview.blogspot.com/p/vampire-economics.html
No comments:
Post a Comment