When Woodrow Wilson (regardless of his later regret) sold us down the river with the “Federal” Reserve and the IRS in 1913, we started down the road to the financial worthlessness of our currency.
United States Founding Father
United States Founding Father
Published: 17 hours ago
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“I filed an amendment that would have corrected one of the most egregious aspects of the gang of eight bill as it intersects with Obamacare legislation, namely a penalty imposed on U.S. employers for hiring U.S. citizens and U.S. permanent residents. This bill says if an employer hires a citizen or a legal immigrant, the IRS can impose a $5,000 penalty on that employer. But if the employer instead hires someone with RPI status, that penalty will go away. That is utterly and completely indefensible.”“Nobody in this body wants to see African-American unemployment go up. Nobody wants to see Hispanic unemployment go up, youth unemployment go up, union household unemployment go up, legal immigrant unemployment go up. Yet every one of those will happen if this Gang of Eight bill passes without fixing this problem. If that happens, all 100 members of the U.S. Senate will be accountable to our constituents for explaining why we voted to put a federal penalty on hiring U.S. citizens and hiring legal immigrants. I hope this body will choose to pass my amendment and fix this grave defect in the Gang of Eight legislation.”
Cruz already weathered a few hilariously botched attempts to “fact-check” his claim into oblivion, which ended with the “fact checkers” admitting he was right about the problem, but questioning whether employers would respond to this incentive on the scale he envisions. (That, of course, is a difference of opinion, not a fact check.)For added fun, the Weekly Standard collared five of the Democrat senators who voted to cut off debate on the immigration bill, and asked for their take on the problem Cruz describes. None of them knew if the loophole had been addressed yet. Senator Barbara Boxer (D-CA) babbled something incoherent that had nothing to do with the question; Tom Carper (D-DE) snarled that he was too busy to answer the question; and Max “Train Wreck” Baucus, the author of ObamaCare, mumbled: “We’re trying to solve that right now… I don’t know if that’s been solved.”
The unfortunate reality is that we are actually in a much more dangerous and precarious place today than we were five years ago.
I’m simply following my research to its logical conclusion.
As for me, I’m more certain about this looming crisis than I’ve been about anything else in my life.
My take on this issue… “Just the facts, M’aam”
The figures below don’t sinc with my “reality” – The so called 40 hr work week annual wages can be ascertained by multiplying your wage (if paid by the hr) by 2080 hrs.
At $8.25 X 2080 it equals $17,160 per year. However, my “at will” employers have varied my hrs for a number of dubious reasons. Currently, I’m fortunate if I get 32 hrs; which equals $12,870. This is BEFORE “Uncle Sam” takes his bite, and before SS taxes take their bite. Divide that by 12 (months) it comes out to $1072.50 per month. My Rent is $499.00, my auto insurance is $410 per 6 months (a service charge is incurred by having to pay $102.50 per 4months instead of being able to make an annual payment). My rate is tied into having Apt ins. @$142; paid @ 40.50 a month, or it would be higher. My Gas expense due to site/schedule changes made, has increased by $50. per month; so monthly gas expense is $75. My utilities, (rent covers gas so I don’t have heating expenses) electric equals about $25. per month. My internet/phone charges equal $50. per month. Total = $751.50. This leaves precious little for food, and there is NO “discretional” income for things like preventative maintenance for my vehicle, ME, (no health coverage) or other things that are quaintly referred to as S— happens. Amazingly enough, if the Min wage IS raised to $9.00; my employers would pay me $9.25 per hr. (I was making $8.00 per hr before the last change) At this rate I could manage to keep body and soul together, even with far less than full time hrs. The guy from CATO in his $1000 suit and six figure income can go pound sand.
It remains to be seen if HE will prevent my becoming in deep debt. People like me exist. They don’t “live”. Use the link provided to view video.
By Bernice Napach | Daily Ticker – Fri, Mar 1, 2013 12:51 PM EST
In his State of the Union Address President Obama proposed raising the minimum wage to $9.00 an hour, declaring that “in the wealthiest nation on earth, no one who works full-time should have to live in poverty.”
A full-time worker making the minimum wage today would earn roughly $14,500 a year—about 40% below the $23,550 poverty line for a family of four.
Given that gap, about 19 states have set a minimum wage above the federal minimum—including at least 10 that raised it the beginning of this year and more states are considering increases.
On Capitol Hill Senator Tom Harkin (D-IA) and Representative George Miller (D-CA) this week announced plans to introduce a bill to raise the national minimum wage to $10.10 in just over two years after passage and adjusting it for inflation after that. If the minimum wage of $1.60 per hour in 1968 had been adjusted for inflation it would be close to $10.30 today—or 30% higher than the current rate.
Not everyone agrees that raising the minimum wage would help minimum wage workers.
Dan Mitchell, senior fellow at the Cato Institute, a libertarian Washington, D.C. think tank, tells The Daily Ticker “If you increase the price of something by 24%…In all likelihood you’re pricing them out of a job….it will cause job losses. The federal government shouldn’t put people out of work.”
Mitchell assumes that all the increases in the minimum wage would be passed onto consumers, who in turn will reduce their purchases. “If McDonalds raises their hamburger prices 33% they will sell fewer hamburgers… If the government raises the price of low-skilled labor by 33% there will be less low-skilled labor being hired.”
But Senator Harkin, in a recent USA Today op-ed, writes that raising the minimum wage “would create at least 100,000 jobs through increased consumer spending” by “putting additional money in the hands of consumers who will spend it right away in their local communities.”
Economists generally agree that the economy gets more bang for the buck putting money into the hands of lower income workers rather than higher-income earners. Mark Zandi of Moody’s Analytics, who has advised Senator John McCain during his presidential bid in 2008 as well as President Obama, says the so-called multiplier effect of emergency of unemployment benefits, for example, is 1.52—meaning $1.52 spent by consumers for every dollar’s worth of government stimulus and 1.27 for the employee payroll tax cut vs. a 0.25 multiplier for an income tax cut for wealthy Americans. As part of the deal to avoid going off the fiscal cliff the employee payroll tax cut was eliminated but unemployment benefits were extended.
Another reason to raise the minimum wage: record inequality in the U.S. now.
“Company owners and wage earners are doing incredibly well, “ says The Daily Ticker’s Henry Blodget. “Everybody else is getting hammered. Why isn’t it a good idea to force companies to pay their workers more?….The vast majority of the country is paid almost nothing…Most of the people who work for Wal-Mart (WMT) are poor.”
Blodget says Harkin and Miller’s plan to raise the minimum wage to $10.10 in a few years is simply indexing it to inflation, taking it back to where it was more than 40 years ago. “That doesn’t seem too extreme.”
Tell Us What You Think!
by Dave Jolly
I’m Aaron DeHoog , the financial publisher at Newsmax.
And what I have to discuss with you now is the most serious threat to both our country and your financial security that I’ve ever come across.
Because it could eradicate your life savings . . . your investments . . . and your entire net worth.
Today, I Want You to
Imagine the Unimaginable.
What if a man with the highest government clearance at the Pentagon and CIA . . .
Who has access to some of the most sensitive military and economic intelligence, who regularly briefs the Treasury, and who has testified before the Senate and House of Representatives . . .
Walked into your office, sat down, and with a calm voice that did not waver, gave you the following warning . . .
“An Economic Pearl Harbor
Is about to Strike America.”
And this was not something he said without understanding its gravity.
Because — as you’ll soon learn — the CIA enlisted him to investigate the last direct attack on our country and economy: 9/11.
And this time he believes the outcome could be as severe as the Great Depression, as our already fragile financial system collapses, and the wealth of tens of millions of innocent Americans who aren’t prepared is decimated in the blink of an eye from the onslaught.
For example, the $50 trillion lost in the recession would be just a drop in the bucket.
Picture $100 trillion vanishing from Main Street America and our economy.
Picture investment accounts crumbling into ashes . . . impoverishing even the wealthiest . . . as the stock market suddenly plunges 50% . . . with no floor in sight.
Picture inflation hitting extreme levels that make the 1970s look like a pleasant memory . . . as what’s left of the dollar is eradicated.
The struggle to afford gas and food could cause conflict and stress to overcome our society.
Now, Imagine You Are Me.
And this is what has just been described to you.
Who would you tell?
And what would you do at that very moment to protect you and your family’s financial security?
That’s what I want to discuss with you today.
Now before I go further, let me tell you about the man who delivered this warning to me, so you can understand with complete clarity why you need to take this seriously.
His name is James Rickards.
And he is a top security adviser to the Pentagon . . . CIA . . . Department of Defense . . . and the Director of National Intelligence.
He is also a powerful lawyer and investment banker, who has spent over 35 years on Wall Street.
While much of his work is classified, I am permitted to tell you that his focus is on identifying threats that may strike our economy, financial markets, and average Americans.
This oftentimes places him behind enemy lines in some very dangerous areas of the world including Nigeria, Liberia, Zimbabwe, and Pakistan.
His rather unique skillset is the main reason that James Rickards has been called upon by our great nation to intervene directly in some of recent history’s most important events.
For example, the U.S. government placed him in the heart of the negotiations to free 52 innocent Americans during the Iran hostage crisis that endured for 444 straight days from 1979 through 1981.
But that was just the beginning . . .
As you probably remember, in 1998 the large hedge fund Long-Term Capital Management almost single-handedly destroyed our economy when its trillion-dollar exposure to risky investments threatened to unleash . . .
A financial catastrophe not seen in the previous 60 years.
A few years later, James Rickards’ expertise in Middle Eastern financing, and his ability to operate in secrecy, resulted in top CIA officials placing him in the center of an investigation into one of our nation’s darkest hours.
I’m referring to . . . September 11, 2001.
The CIA enlisted Rickards to examine terrorist ties to a large block of insider trading that occurred on Wall Street prior to the attack . . .
Because of the direct loss of innocent lives, we don’t often stop to think that 9/11 was also a strike on our economy as well.
In fact, Osama bin Laden even stated this was one of his top priorities on numerous occasions.
All in all, it’s believed we lost $6.4 trillion when you factor in the loss in market wealth, plus the costs of the wars in Iraq and Afghanistan that followed.
For obvious security reasons, James Rickards did not discuss the specifics of his work investigating the 9/11 financial paper trail in great detail with me.
But he did say that what he uncovered angered him.
And he decided to do his part to ensure it will never happen again.
So in the years that followed, he developed and then implemented a system the national intelligence community could use to decipher clues emanating from Wall Street.
Clues that could help provide an early warning of a coming economic crisis. And it wasn’t long before his worst fears came to reality.
You see, in 2005 he started getting signals that our economy and financial markets had become unstable and had reached a code red status.
So he began briefing the Treasury on a regular basis.
But When, to Their Surprise, James Rickards
Started Pointing Fingers at THEM and the FEDERAL RESERVE . . . His Message Fell on Deaf Ears.
Look, it’s hard for anyone to tell their boss that they are the problem, let alone stand up in front of our government and do it.
But that’s exactly what James Rickards boldly did.
His concerns reached a boiling point at a Treasury meeting when he declared that Ben Bernanke had become more dangerous to the national and financial security of the United States . . . than al-Qaeda.
They didn’t listen.
Well, we all know what happened next when the recession struck.
And now Rickards is seeing those code red warnings again.
But this time the signals are TWICE as strong . . .
And they are exposing a frightening revelation . . . that could bring down many powerful people.
You see, James Rickards uncovered evidence that suggests for the last few years the American government and Federal Reserve have been covertly working together to deliberately commit calculated, and unspeakable economic aggressions against not only other nations, but American citizens . . .
So he rushed to testify about his findings before both the Senate and House of Representatives.
However, when Congress heard that the blame didn’t fall on a Middle Eastern country or on a corrupt Wall Street firm . . . or a terrorist group. . .
But instead fell on the leaders of America — some of whom were present at the time of his testimony . Well, as you can imagine, they didn’t like his message.
So James Rickards turned to the Pentagon.
And shortly after he shared this intelligence with them . . .
The Pentagon brought him to a top-secret facility in Maryland — their Warfare Analysis Laboratory — to re-create a startling scenario of exactly what could erupt in our future . . .
As an “Economic Pearl Harbor”
Is Unleashed on Our Country.
All from a financial war our leaders started.
And a global counterattack nobody on Capitol Hill, at the Treasury, or at the Federal Reserve was prepared for . . .
Now if that wasn’t frightening enough, wait until you hear this.
Everything could eventually escalate into military conflicts against China, Iran, Russia, or possibly an unknown enemy.
Because, it has happened before.
And right now, history is being ignored.
What James Rickards briefed the Pentagon and Congress on, and later shared with me in our private meeting is called a global Currency War.
And It’s a War We
Are Going to Lose.
Unfortunately, Rickards had already learned a hard lesson that sometimes Washington, D.C., ignores the national intelligence community.
So with no other choice, he is now stepping out of the shadows to play the role of whistleblower.
And that is why James Rickards came to the Newsmax office to speak with me.
Because he knows that Newsmax has the power, and therefore the responsibility, to warn the public.
As you are probably aware, Newsmax has built a strong reputation for exposing the stories the mainstream media oftentimes ignore until it’s too late.
It was Newsmax that traveled to Moscow to meet with the former president of the Soviet Union, Mikhail Gorbachev, to discuss a coming war with Iran . . .
Well before it was a top headline in the newspapers.
It was Newsmax that sat down with former President Bill Clinton to expose China’s growing energy dominance . . .
And the threat of a future tax siege on the American public . . .
And it was Newsmax that years ago warned of the cyber attacks we’ve begun to see now.
So it goes without saying that we don’t take the threat of an “economic Pearl Harbor” striking America lightly.
Which is why we investigated and vetted it thoroughly.
So, let me ask again, imagine you are me.
Who would you tell?
And what would you do at that very moment to protect you and your family’s financial security?
After all, the scenario James Rickards described to me was truly unimaginable.
But with his background — with his credibility — and with the evidence he provided to me . . . he was not somebody to be ignored.
But I knew that if I was going to warn the public — to warn you — I would have to assemble a team of experts who could provide you with the exact details on what is about to unfold . . . and more importantly, how to protect yourself.
I assembled a team of experts
to provide you with the exact
details that are about to unfold.
So to “out this story” I commissioned an Emmy Award-winning director to follow James Rickards and a team of economists that includes . . .
The chairman of Forbes Media, Steve Forbes.
Global market specialist Sean Hyman . . .
And Bob Wiedemer, the author of the New York Times best-selling book Aftershock . . .
Together they investigated and exposed this unimaginable threat to your net worth and our country.
The documentary is called Declassified: America’s Coming “Economic Pearl Harbor.”
And I’m now going to show you never-before-seen footage from this film so that you can understand what’s at stake.
And why this Currency War has become such a large concern of the Pentagon, CIA, and entire national intelligence community.
~ THE ORIGINAL*ONLY GUNNY G ! NEWS*VIEWS*HISTORY*POLITICS*Etc. ~SEMPER BLOGGING/REBLOGGING ! ~
With breaking news regarding black on white racial/hate crimes, contributed by NYC/QPTV's David Ben Moshe.
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