Daily Archives: January 22, 2014
Prosperity Redistributed: The Real Unemployment Rate and Misery for All
By: Terresa Monroe-Hamilton
Marxists: Let the unemployed eat cake…
Guess I was wrong… but not in the way the Left would like to see. For years now, I have told our readers that the unemployment rate is closer to 25%. That the government is manipulating the rate and outright lying to America. David John Marotta, a Wall Street adviser and President of Marotta Wealth Management, puts it closer to 37.2%, not the unicorn dust propaganda of 6.7% claimed by the Fed. Let’s put that in a new light, shall we? The unemployment rate during the Great Depression was 25%. This makes what America is experiencing the Greatest Depression thanks to Progressives on both sides of the political aisle. And the Misery Index is now the greatest it has been in 40 years – closer to 14.7.
Someone finally had the guts to come out and call a fraud a fraud. If you will remember, Marotta was the one who recently told his investors to get a gun. He now comes out and bluntly states that the calculations used to determine those out of the workforce and the rate of inflation are nothing but fluffy lies for the masses. These numbers are used to calculate the Misery Index.
“The unemployment rate only describes people who are currently working or looking for work,” he said. That leaves out a ton more.
“Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent. This number obviously includes some people who are not or never plan to seek employment. But it does describe how many people are not able to, do not want to or cannot find a way to work. Policies that remove the barriers to employment, thus decreasing this number, are obviously beneficial,” he and colleague Megan Russell in their new investors note from their offices in Charlottesville, Va.
They added that “officially-reported unemployment numbers decrease when enough time passes to discourage the unemployed from looking for work. A decrease is not necessarily beneficial; an increase is clearly detrimental.”
Marotta also points out that the inflation rate is closer to 4.24, not the 1.24 the government claims. They are doing this with fast and loose accounting tactics and outright manipulation. The Keynesians are full of crap.
The stock market is detached from reality and the actual performance of the economy. With the printing of money, stimulus schemes and bailouts, Wall Street would have you believe things are terrific with an ever rising stock market. Nothing could be further from the truth. This time the correction will be staggering – the higher the market goes, the harder it will fall.
Marotta on the stock market:
So how could our stock market be at such record highs while so many are unemployed? Given current government policies, it is specifically by avoiding U.S. workers that companies are keeping their profits strong. Obamacare punishes large companies for each full-time worker and provides strong incentives for small businesses to stay below 50 full-time-equivalent employees. Automation and outsourcing are making U.S. companies more profitable at the expense of U.S. employment.
Inflation, the other half of the misery index, assists stock prices as well. Every month, the Federal Reserve has been injecting $85 billion into the money supply. This devaluation of the currency causes inflation that naturally pushes all prices, including stock prices, higher.
The Obama Administration is providing breads and circuses to the masses, while America collapses. They are aggressively implementing the Cloward and Piven strategy by recruiting households onto the welfare roles and food stamps. 20% of American households in 2013 were on food stamps and it is just the beginning.
Marotta is right… now is the time to prepare as never before:
A top financial advisor, worried that Obamacare, the NSA spying scandal and spiraling national debt is increasing the chances for a fiscal and social disaster, is recommending that Americans prepare a “bug-out bag” that includes food, a gun and ammo to help them stay alive.
So while Obama and the other Marxists claim a recovery is occurring, more and more Americans can’t find work and are going hungry. And the government and media are whitewashing it and ignoring it. Obama will be in control another three years. Imagine the devastation he will leave in his wake after entitlement spending, the printing of money, inflation, bail-outs, Obamacare and the coming Amnesty for illegal aliens. Now imagine Hillary Clinton as President. 2014 and 2016 are the most important elections of our lifetime and we will either fall as a nation to the Marxists, or return to founding principles. Enough already of the prosperity redistribution – we want our country back and we want to be left the hell alone.
Blaming the Victim in Benghazigate
By: Roger Aronoff
Accuracy in Media
The media have discovered a scandal they can eagerly embrace, and they are off to the races. Having already found him guilty, they are now trying to determine if New Jersey Republican Governor Chris Christie knew about or ordered his underlings to create traffic jams entering the George Washington Bridge, from Ft. Lee, New Jersey into New York City; or to threaten to withhold Superstorm Sandy funds from Hoboken, NJ unless the mayor agreed to play ball with a developer with ties to the governor; or if he created a culture whereby all that could happen. Yet few are asking the parallel questions of Hillary Clinton. While those are all valid questions for Christie, the fact remains that Mrs. Clinton was in charge of the State Department during the September 11, 2012 terrorist attacks in Benghazi, which the recent SSCI report determined “were likely preventable.” Did she create a culture at the State Department that would allow these attacks to occur? Or is the answer, “What difference at this point does it make?”
One person who is getting blamed in the media is Chris Stevens, the ambassador to Libya at the time, who was murdered by the terrorists when they attacked the Temporary Mission Facility in Benghazi. Sean Smith was another casualty there. Liberals like Piers Morgan and MSNBC’s Katty Kay are among a number of journalists who have basically blamed Stevens for his own death, as did The New York Times, and third-rate comedian Bill Maher, who wouldn’t be worth mentioning, except that Time Warner sees fit to give him a weekly one-hour show on HBO to spew his venomous ignorance on a range of topics.
How was it Ambassador Stevens’ fault that he and the others died? According to the SSCI report, “General Ham called Ambassador Stevens and asked if the Embassy needed the SST [Site Security Team] from the U.S. military, but Stevens told Ham it did not.” And, again, “Shortly thereafter, Stevens traveled to Germany for a previously scheduled meeting with Ham at AFRICOM headquarters. Ham again offered to sustain the SST at the meeting, and Stevens again declined.”
How does this evidence stack up against reports that he had pleaded, repeatedly, for additional security?
Here is what the record shows: The U.S. Mission had been attacked twice earlier in the year. The British and Red Cross had pulled out before the attacks. On July 9, 2012, Stevens sent a cable requesting additional security support, so that the Tripoli Embassy would have 13 security support personnel. The cable mentions Department of Defense SST as a possibility.
On August 16, another cable was sent, to the attention of Hillary Clinton, who claims she never saw it. The cable reportedly said that al Qaeda had training camps in Benghazi, and the senior security officer at the U.S. Mission in Benghazi didn’t believe the Mission could be protected or defended against a “coordinated attack.” The State Department had signed a contract with the Blue Mountain Group out of Wales, which provided security of sorts. Unarmed security. The only armed security was supplied by the February 17th Martyrs Brigade, a Libyan militia group of which Greg Hicks, the State Department’s deputy chief of mission in Libya at the time of the attacks, said, “Certainly elements of that militia were complicit in the attacks.”
What changed for Stevens between July and August? The August 16 Emergency Action Committee (EAC) cable that prompted Ham to ask Ambassador Stevens about accepting the SST back remains classified. We now know from the SSCI report that a CIA officer briefed the EAC in August “on the location of approximately ten Islamist militias and [Al Qaeda] training camps within Benghazi.”
We also know from former Regional Security Officer in Tripoli Eric Nordstrom that the State Department was opposed to additional military support. “Mr. Nordstrom told the Committee that Ms. [Charlene] Lamb claimed [an extension of the SST] would be embarrassing and give Libya more security agents than in Yemen and Pakistan,” according to the “Additional Views” of six Republican senators on the committee, who issued their own summary as part of the SSCI report. Lamb was the State Department official responsible for managing Diplomatic Security programs designed to protect all of the international missions from terrorism and other threats. Such political considerations should not have outweighed the value of the lives of those in Libya.
So while there is some word-of-mouth testimony that Stevens said no to additional security, wasn’t it up to the State Department higher ups, those who created the culture, to protect their diplomats? There is always the Chief of Mission responsibility for his or her own people, but could State have been applying pressure for Ambassador Stevens not to accept the military support? They certainly applied pressure on Nordstrom.
According to the unified findings of the SSCI, the State Department could have prevented this attack given the “known security shortfalls” and “significant strategic…warnings from the Intelligence Community about the deteriorating security situation in Libya.” But why blame a building? According to the minority view, Hillary Clinton was due a share of the blame: “Ultimately, however, the final responsibility for security at diplomatic facilities lies with the former Secretary of State, Hillary Clinton.”
When will the media start chasing Hillary, and spending hours of prime time television questioning the culture she created at State, and going line by line through what everyone said? No, instead they try to tell us that this is a phony scandal, no one cares about it, and as MSNBC host Chris Hayes said, “it is time to say good-bye, RIP, Benghazi scandal. There is nothing left.”
Nothing could be further from the truth.
Roger Aronoff is the Editor of Accuracy in Media, and can be contacted at [email protected]. View the complete archives from Roger Aronoff.