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July 24, 2013

President Obama says Washington has "taken its eye off the ball"

President Obama used a trip to his homestate of Illinois to kick off what he says will be a series of speeches and appearances, arguing that Washington needs to refocus on the economy.

"With an endless parade of distractions, political posturing and phony scandals, Washington has taken its eye off the ball," Obama charged in an appearance at Knox College in Galesburg, Il. "And I am here to say this needs to stop. Short-term thinking and stale debates are not what this moment requires. Our focus must be on the basic economic issues that matter most to you -- the people we represent."

Obama used the speech at Knox -- the site of a major economic speech the then- U.S. senator delivered in 2005 -- to argue that while the U.S. under his watch has partially recovered from the "great recession" -- there's more work to be done.

"I'm here today to tell you what you already know – we’re not there yet," Obama said. He offered no specifics, but said it's time to think beyond the next crisis.

"The key is to break through the tendency in Washington to careen from crisis to crisis," he said. "What we need isn't a three-month plan or even a three-year plan, but a long-term American strategy based on a steady, persistent effort to reverse the forces that have conspired against the middle class for decades."

The speech comes months before he and congressional leaders are likely to tangle over raising the debt ceiling and Obama assailed Republicans in the speech, arguing that "over the last six months, this gridlock has gotten worse. And I didn't even think that was possible.

"A growing number of Republican senators are trying to get things done, like an immigration bill that economists say will boost our economy by more than a trillion dollars," Obama said. " But a faction of Republicans in the House won’t even give that bill a vote, and gutted a farm bill that America's farmers and most vulnerable children depend on."

He warned against a repeat of the 2011 debt ceiling debacle, calling it a "fiasco that harmed a fragile recovery in 2011, and one we can’t afford to repeat."

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Davis

Any one with the gumption to take off the partisan political blinders even for a moment can see that the corrupt edifice that is the US big banking and financial system is starting to crumble before our very eyes.

Most interestingly, the former head of the Bureau of Labor Statistics (the politburo in charge of manipulating the “official” unemployment numbers and inflation measures) has come forward and stated, flat out, that the unemployment numbers in the US as published are a lie.

Keith Hall believes the US economy is a lot sicker than the 7.6 percent unemployment rate would lead you to believe.

And he should know.

Hall was, from 2008 until last year, the guy in charge of Washington’s Bureau of Labor Statistics, the agency that compiles that rate.

“Right now [it’s] misleadingly low,” says Hall, who believes a truer reading of those now wanting a job but without one to be more than 10 percent.

Source: NY Post

The Obama administration claims that we’re in recovery, pointing to the unemployment rate as evidence. Why then do we have the former head of the BLS stating that real unemployment is greater than 10%?

Hall also stated that the Federal Reserve's methodology for calculating inflation is seriously flawed and out dated.

So how does the Feds measure inflation? They conduct surveys to see what consumers are buying. Then the BLS sends its staff out to stores to determine how much these items cost.

So the Feds are relying on people to: 1) Remembering what groceries they bought last month and 2) Remember what they paid for them.

I can't speak for everyone but I don’t remember either these things in any great detail. I doubt 99% of the rest of you do either. And yet this is the basis for our inflation metrics!

The unemployment data is faked and the inflation numbers are faked. So we can look forward to the FED continuing to expand its balance sheet by $85 Billion a month until the lies can't be hidden any longer. And the media is finally catching on that both are a joke.

With Obama now officially in Lame Duck status there are the beginnings of some rumblings about the ongoing fraud. One can only wonder how like it will take the public to catch up.

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