Saturday, June 26, 2010

The Keynesian Dead End

Spending our way to prosperity is going out of style.

President Barack Obama's top economic adviser Larry Summers



WSJ.com

Today's G-20 meeting has been advertised as a showdown between the U.S. and Europe over more spending "stimulus," and so it is. But the larger story is the end of the neo-Keynesian economic moment, and perhaps the start of a healthier policy turn.

For going on three years, the developed world's economic policy has been dominated by the revival of the old idea that vast amounts of public spending could prevent deflation, cure a recession, and ignite a new era of government-led prosperity. It hasn't turned out that way.

Now the political and fiscal bills are coming due even as the U.S. and European economies are merely muddling along. The Europeans have had enough and want to swear off the sauce, while the Obama Administration wants to keep running a bar tab. So this would seem to be a good time to examine recent policy history and assess the results.

Read the entire article






Explosive Evidence at WTC Cited by Former CDI Employee

News - News Releases By AE911Truth

Written by Darcy Wearing and Richard Gage, AIA
Thursday, 24 June 2010 18:55

Having had the privilege of speaking with Tom Sullivan, an actual explosive-charge placement technician, we have some new insights to pass along as to how controlled demolition works, where it started, and the effect that 9/11 had on the demolition industry. Sullivan gained his experience as an employee of the leading firm in this field, Controlled Demolition, Inc. (CDI). Sullivan stresses though “I do not in anyway represent CDI and what I have to say is based on my own experience and training,”

Sullivan attended high school with Doug Loizeaux of the Loizeaux family. The Loizeaux family, through the father Jack, independently started the whole controlled-demolition industry and turned it into a highly profitable business. Sullivan, before he became connected to CDI, was an independent photographer during his early years in Maryland. He would be sent to CD sites and take still pictures of the jobs. He became infatuated with the CD industry. The time came when he would do both, being the placer of the “cutter charges” on the primary joints, and photographing the jobs for promoting the business. Soon he would switch to full-time employee status of CDI -- as verified by AE911Truth’s verification team.




Read the entire article

Friday, June 25, 2010

A Prayer for Our Nation

By Carolyn Lanham

Dear Heavenly Father,


We come humbly before you asking your forgiveness and
for your restoration of our nation.

We as a people are a sorry lot unfit to touch the hem of your garment.

We have accepted evil as good and the blood of the innocent drips
from our hands.

We have forsaken your Word, ignored your warnings
and allowed our nation to sink into a cesspool and we have welcomed
encroaching oppressive government power to slip in to fill the void
allowing government to become our substitute god.

Our churches are dens of iniquity and those supposed leaders of the flock,
with their script written ‘sermanettes’ tickling our ears instead of
being led and driven by the Spirit. Church leadership and the blinded flocks
have bowed their knees for 501c3 status granted by Washington .

Show places and show biz entertainment community centers of
social activities have replaced the houses of worship of our true
Saviour who suffered and died on the cross for our sins. Ridicule and
scorn to those who stand for Thee and Thy Word is abundant, while
tolerance and acceptance of compromise is love. None is shown to
those who stand in the gap who are labled intolerant, unloving haters,
and sewers of discord. No longer standing in the gap we rely on your
rapture as an excuse for escapism and cowardice that envelopes us
when your Word clearly tells us to stand in the gap, to occupy----

Dare to be a Daniel when we willingly refuse to hear the roar of the
lions oh so ready to devour us.

We pray, dear Father, you will raise up Daniels in our midst, the three
men who went into a firey furnace who refused to come to the king’s table
and dine on the king’s meat. We pray for young and mighty Davids and
the sling shot and stone to slay the giant Goliath of the enemy in our midst,
Instead we participate in prayer breakfasts with outstretched hands to
Washington rather than the true Master.

We applaud and make heroes of those who are pauns wearing the uniform
of government, soldiers who are victims sent to sovereign lands in wars
of occupation doing the bidding for the self appointed elite, the den of
vipers behind the scenes, the self appointed globalists, the international
banksters as they lock us down in a police state tyranny under the guise
of fighting terrorism.

We accept in our midst those who swear secret oaths that God warns us
about in his Word, and we vote and send to Washington politicians who
expound rhetoric we want to hear while these same people attend and
participate in orgies of demonism at the Bohemian Grove, who worship
a giant stone owl and participate in debaucheries hard to imagine that
God warned us about in the book of Leviticus.

We are admonished to be Watchmen on the Wall, to expose evil
while those in the Council on Foreign Relations, The Bilderberg
Group and the Trilateral Commission feast at the
Globalist New World Order table on the carcus of freedom.

The exposers of this evil are labled and scorned as conspiracy kooks, tin
foil hatters, extremists ----don’t disturb a sleeping churches’ comfort zone-----
while we set in soccor bleachers, fill our gluttony at church social dinners
pot lucks instead of visiting the homeless, sick, the widows and orphans.

(we have a paid staff for that)

Paul was persecuted and all great heroes of the Bible ran afoul of the
Powers that Be, were jailed, beheaded and persecuted –yes they were
Extreme—

We have turned away from God, not being good stewards of our money
without challenge or question how Washington and even how the Church
uses it from the collection plate and we applaud THE CANCER EATING
AWAY OUR SUBSTANCE WITH THE EXCUSE - "WE ARE IN THE LAST DAYS!"

You gave us free will. Dear Father, the right to choose whether we will
serve you and your truths - God have mercy on us for forsaking you-
You are the author of Freedom-lest we forget-

In Jesus name we pray, Amen and Amen

Carolyn Lanham



Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms

Brady Dennis

Washington Post
Friday, June 25, 2010

Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.

Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. — more than 20 messy, mind-numbing hours after they began Thursday morning.

“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

Both the House and Senate must approve the compromise legislation before it can go to Obama for his signature.

Read the entire article

Leaders differ on how to sustain global recovery

Protesters march against the G-8 and G-20 summits in Toronto on Friday.


At G-8, Obama touts stimulus; other countries eye deficit reduction

HUNTSVILLE, Ontario — Fresh from a congressional win on a financial overhaul, President Barack Obama pressed world leaders on Friday to join him in backing stronger rules against banking abuses. He made little headway in his call for more stimulus to keep the world economy growing.


Instead, he ran into strong opposition from countries wanting to put deficit reduction first.

"Those countries with budget deficits need to do that and, as a world, we need to address the imbalances," Britain's conservative new prime minister, David Cameron, said Friday after meeting summit host Stephen Harper, Canada's prime minister. His government brought forward an emergency budget this week that proposed increased taxes and the toughest cuts in public spending in decades.

As Obama and other leaders sparred over how to keep their economies from slipping back into recession, there was little expectation of economic breakthroughs from sessions here and in Toronto.

Read the entire article

Current state of the American housing market. What foreclosures and distressed borrowers tell us in hidden data. 2010 on path to having 4 million foreclosure filings. HAMP call center data at record levels while loan modifications dwindle

MyBudget360.com
Posted: 24 Jun 2010 11:27 AM PDT


Trying to get honest data from the banking industry regarding the current state of housing is a monumental task. We are left using multiple data sources to get an accurate picture of the current state of the American housing market. Even then, we are left trying to piece together data that is largely incomplete. For example, we now know that banks are delaying foreclosure filings so these don’t show up in monthly reports. Next, we have another group of home owners that have stopped paying their mortgages as a strategy. These points are important but are buried deep in reports. Yet we can still try to garner information from other sources that will provide a better perspective on the U.S. housing market.

It is safe to say to say that a foreclosure filing is the worse sign of problems for housing. After all, the first action is taken with a notice of default and this requires at a minimum three missed payments.

Read the entire report

U.S. economic growth revised down to 2.7%

Final estimate of first-quarter GDP shows a sluggish recovery


msnbc
WASHINGTON - U.S. economic growth was slower than previously estimated in the first quarter as estimates of business and consumer spending were cut, according to government data on Friday.

In its final estimate, the Commerce Department said gross domestic product expanded at a 2.7 percent annual rate instead of the 3 percent pace it reported last month.

Although the growth pace was below market expectations for a 3 percent rate, it still marked three straight quarters of expansion as the economy digs out of its most brutal downturn since the 1930s.

Read the entire article

Thursday, June 24, 2010

Unmanned drone set to patrol Texas border

Napolitano: 'Border states have endured more than ... share of challenges'


msn.com
By Ceci Connolly


WASHINGTON - The Obama administration announced Wednesday that it will station an aerial drone in Texas as part of its stepped-up surveillance of criminal trafficking along the Mexican border.

Federal authorities also have signed an agreement to allow local police from non-border communities to temporarily "deploy" to the border region to assist with security, said Janet Napolitano, secretary of the Department of Homeland Security.

"Our Southwest border states have endured more than their share of challenges," said Napolitano, a former Arizona governor. "I share the frustration border communities feel."

Read the entire article

Wednesday, June 23, 2010

Grassfire's Petition Presentation to AZ Senator Pearce on SB1070

ResistNet.com
By Darla, ADMIN / National Director on June 21, 2010 at 7:49pm

Resistnet's National Director presented the 126,101 petitions from Americans who support SB1070. Senator Pearce is the author of this bill. Several news networks were in attendance.


Senator Pearce thanks all of you who signed from the bottom of his heart!

Now let's get it passed in your own states!!

Editor's Note: Here is the immigration enforcement bill Arizona has introduced:
SB1070 pdf version




Sales of new homes in May hit record low

End of homebuyer tax credit contributes to 33 percent decline


msnbc video

By Alan Zibel
APNews

WASHINGTON - Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.

The bleak report from the Commerce Department is the first sign of how the end of federal tax credits could weigh on the nation's housing market.

The credits expired April 30. That's when a new-home buyer would have had to sign a contract to qualify.

Read the entire article




Tuesday, June 22, 2010

Civilian Militia Patrol U.S.-Mexico Border


FOX News video June 19, 2010


PBS.org
A group of self-appointed civilian border patrol agents have begun a month-long effort along the U.S.-Mexico border to stem the flow of illegal immigration into the United States, frustrating federal authorities who say they will hamper not help the problem.

Read the entire story

Monday, June 21, 2010

Federal Reserve Devaluating Dollar in cooperation with China!

Uncommon Wisdom




Over the weekend, and under pressure from Washington, Beijing agreed to start pushing the value of its currency higher, and by definition, the dollar lower.


Make no mistake about it: This is the next phase of the great dollar devaluation I’ve been warning about. For my comments on the weekend’s events, you’ll want to watch the video I just recorded for you.

And if you’re not a Real Wealth Report member, it’s critically important that you join now.

Best wishes,

Larry



U.K. readies for $40 billion of tax hikes, spending cuts

By Simon Kennedy , MarketWatch


LONDON (MarketWatch) -- The U.K.'s new Chancellor George Osborne will Tuesday lay out plans for billions of pounds of spending cuts and tax increases as he attempts to tread a fine line between narrowing the deficit, while avoiding derailing the recovery.

In an emergency budget that comes just six weeks after the Conservative and Liberal Democrat alliance took office, Osborne will announce further fiscal tightening equivalent to around 2% to 3% of gross domestic product, economists said.

The majority of that will come in the form of spending cuts, which will also drive another cut in the outlook for growth next year.

Economists at J.P. Morgan said they expect 28 billion pounds ($42 billion) of new fiscal tightening measures, with at least half of that total in place by the end of fiscal 2012. The newly-created Office for Budget Responsibility will also likely cut its 2011 growth forecast to 2.3% from 2.6%, the broker added.

Read the entire article

China unshackles yuan and markets rejoice

China tries to deflect criticism that its currency is undervalued

msnbc
By Jason Subler and Lu Jianxin


China's yuan surged on Monday the most since its revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is sticking to its word of allowing greater currency flexibility.

The central bank has maintained the peg since the middle of 2008, a controversial policy aimed at steadying the world's fastest-growing major economy during the global economic downturn.

But the central bank stepped aside on Monday to back up its surprise weekend announcement that it would allow greater flexibility for the yuan, buying some time against Western critics who argue the currency is undervalued and gives China an unfair advantage in world trade.

Read the entire article

Sunday, June 20, 2010

Facing Federal Lawsuit, Arizona Governor Stands Her Ground on Immigration Law


Published June 19, 2010
FOXNews.com
Arizona Gov. Jan Brewer speaks to reporters outside the White House in Washington, Thursday, June 3, 2010, after a private meeting with President Barack Obama. (AP)




Gov. Jan Brewer refused to flinch after Obama administration officials confirmed Friday that they plan to file a lawsuit challenging the state's anti-illegal immigration law.


In a statement issued late Friday, Brewer called Obama's decision "outrageous" but "not surprising."

"Our federal government should be using its legal resources to fight illegal immigration, not the law-abiding citizens of Arizona," she said.

Meanwhile, Arizona Attorney General Terry Goddard said his office plans to withdraw as the state's lawyers in legal challenges to the law, leaving Brewer's attorneys to defend it. Brewer had complained that Goddard's criticism of the measure raised doubts about his ability to defend it.

Brewer said with Goddard out, "I will ensure the immigration laws we passed are vigorously defended all the way to the United States Supreme Court if necessary, where this reasonable law will ultimately be found constitutional."

Read the entire story

TERROR CAMPS:The Global Agenda

TERROR CAMPS:The Global Agenda
Watch Full Length Movie Here

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Four Mega Banks Dubbed "The Four Horsemen of U.S. Banking"

New World Order Rising-Documentary

New World Order Rising-Documentary
Watch Here

ObamaCrimes.com

ObamaCrimes.com
Find out Why Here...

My Other Passions

My Other Passions
Aikido and Iaido