WARREN BUFFETT SUED BY OBAMA’S IRS… EVEN HE ISN’T SAVE - WAIT UNTIL THEY COME AFTER YOU FOR OBAMA’S SECOND-TERM TAXES AND OBAMACARE

WARREN BUFFETT SUED BY OBAMA’S IRS

By AJ

Obama and his rich pals think you are just another useful idiot like the Occupy (OWS) crowd.

While Obama seeks to enact the “Buffett Rule” to place a higher tax burden on families/small businesses who make $250K per year or more, his Internal Revenue Service (IRS) is suing Warren Buffett.

Obama’s pal just doesn’t want to pay his taxes… but he has no problem stumping for Obama and calling for a higher tax burden on families and small businesses.

“Get this: Uncle Sam is suing Warren Buffett's company over taxes. Yes, taxes. The US government, in a little-followed case in Ohio, filed a lawsuit this month against a unit of Buffett's Berkshire Hathaway, seeking $366 million in taxes and penalties. The Berkshire division at the centre of the suit is NetJets, the private-aircraft company that caters to the nation's wealthiest - the people Buffett says should pay more in taxes.

It is an odd twist that a company controlled by Buffett - perhaps the most outspoken businessman in the country in support of raising taxes on the 'mega-rich' - is now in a dispute with the government over his company's paying too little in taxes.”

But it gets better… Buffett’s NetJets has now filed a lawsuit against the IRS.

“Now, NetJets and its sister division, which have filed their own suit against the IRS, say they "are stuck with a $642 million-plus bill for past taxes the IRS never indicated they were required to collect".

Obama’s rich friends do not want to pay their taxes, but they want to instill envy in the hearts of the uneducated and sing their “tax the rich” song.

Obama’s pal and Jobs Adviser, Jeffrey Immelt, has benefited since Obama took office through the same tax loopholes that Obama criticizes on the campaign trail. General Electric paid no Taxes in 2009, General Electric Paid No Federal Taxes in 2010.

“…GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.”

Before blindly jumping on the “Tax the Rich” bandwagon, people should ask two simple questions:

1. If Obama makes people pay even more in taxes, will I get some of that money? (Answer = No).
2. Why are Obama’s millionaire and billionaire friends unwilling to pay more in taxes themselves?

Video:  Patriotic Millionaires Higher Taxes Treasury Department Donation The Daily Caller

Maybe it’s time to rethink the envy that Obama is selling, or at least see it for the BIG LIE that it is.

Video:  Milton Friedman: Why soaking the rich won't work. Reference:

Private jets, Warren Buffett and tax lawsuit

http://articles.economictimes.indiatimes.com/2012-03-28/news/31249610_1_ticket-tax-tax-battle-first-tax

General Electric paid no Taxes in 2009

http://www.politisite.com/2010/04/12/general-electric-paid-no-taxes-in-2009/

General Electric Paid No Federal Taxes in 2010

http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558

Obama's Second-Term Taxes 

By DICK MORRIS  - Published on TheHill.com on April 10, 2012

If Obama is reelected, the tax increase he and a Democratic Congress would impose on middle- and upper-middle-income Americans would be disastrous. It's easy to lose sight of his tax plans because he has hidden them in a variety of nooks and crannies, including the Simpson-Bowles Commission Report, the Pelosi budget of 2009 and the various tax proposals advanced by his party. But, should he win, they will all come out of hiding, and together, they will be the principal legislative thrust of his efforts in 2013.

For a couple making $250,000, these tax hikes would add another $3,000 to $4,000 a month in taxes (depending on whether they were self-employed).

For a couple making $150,000, they would add another $1,200 to $1,400 per month.
Let's all realize that Obama let a massive deficit accumulate precisely because he realized that doing so gave him the leverage he would need to raise taxes and increase, permanently, the size of government in America. Reagan let the deficit pile up so liberals couldn't spend more money. Obama did so in order to make conservatives vote for higher taxes.

How will he tax us? Let us count the ways:

• Most basic, of course, will be an increase in tax rates. Those paying 33 percent will now pay 36 percent. People paying 35 percent will now pay 40 percent. Most people accept and expect that Obama will raise these brackets if he is reelected. But they don't realize what else he will do.

• As he advocated in the 2008 campaign, he will eliminate the ceiling on wages that must be taxed for Social Security. Currently, wages are taxed at 6.2 percent (now, temporarily, at 4.2 percent) up to a ceiling about $100,000 per year in income. The ceiling rises with the cost of living. But Obama will eliminate the ceiling and subject all wages to FICA taxation. (In his campaign, he spoke of a "carve-out" for those making between $100,000 and $200,000, where income would be exempt from FICA, but don't count on it.) For those who are employed, the increase in FICA taxes will mean an effective increase in their tax bracket of 6.2 percentage points. For the self-employed, it will mean a whopping 12.4 percentage point increase, bringing their effective tax rate, if they are in the top bracket, over 52 percent. Obama has refrained from addressing Social Security's financial problems and will do so until after the election. But his solution will be higher taxes, not curtailed benefits.

• All deductions for mortgage interest, charitable giving and state and local tax payments would likely end for those making more than $250,000.

• Even for those making less than $250,000, the Bowles-Simpson recommendations call for replacing the current tax deduction for mortgage interest, charitable giving and state and local taxes with a tax credit. Usually 8 percent is mentioned as the tax credit level.

So add it up:

Case A
Married couple
Income: $250,000
Home: $300,000 (mortgage interest: $20,000)
Property taxes: $15,000
Self-employed
Basic tax rate: +5% +$12,500
FICA on full income: +$18,600 ($9,300 if employed)
No deduction
Mortgage interest +$ 6,500
Prop Taxes +$5,000
State income tax (9%) +$7,500
Total additional tax: +$50,100 ($40,800 if employed)

Case B
Married couple
Income: $150,000
Home: $200,000 (mortgage interest: $10,000)
Property taxes: $10,000
Self-employed
Basic tax rate: +3% +$ 4,500
FICA on full income +$6,200 ($3,100 if employed)
8% credit, no deduction
Mortgage interest +$ 2,500
Property taxes +$ 2,500
State income tax (6%) +$ 1,500
(calculation replaces deduction at 33% bracket with an 8% credit)
Total additional tax: +$17,200 ($14,100 if employed)

Can we afford Barack Obama for four more years? No way! And don't say you weren't warned!

Related:

A Wicked Financial Storm Descends on America

Nothing to Do With Health Care!  It’s All About New Taxes and Tax Collection

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

This gives a new meaning to " gov’t. corruption"!!!!

No wonder they didn't want to be Audited..

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts - unelected.org - Click: The Silver Bear Cafe

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill (HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the right), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling:

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious - the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is "only" $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

"This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else." - Bernie Sanders (I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and super-corporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf
Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

Source: unelected.org  - Click: The Silver Bear Cafe

(The Motto of the Silver Bear Cafe is: "Serving up a heaping helping of the Truth, with a generous side of Common Sense")

The Biggest Bank in France Has Suddenly Cut ATM Card Access to Cash in Half and People are Freaking Out!

http://www.jovanovic.com/blog.htm I just got off the phone with Pierre Jananovic . . . La Banque Postale has lowered the limits on the amounts of cash customers can withdraw per week by 50%. First of all, for you Americans and Brits, the way France works its banking system – customers are limited to how much they can withdraw per week from their accts no matter what the balance. Now what has happened here is that Gold card members – who could take out 3,000 euros a week – are now limited to 1,500 a week. This was sudden, without warning, and people here in France are freaking out. Pierre tells me that its the first clear sign that liquidity in the European banking system is drying up. http://maxkeiser.com/2011/06/07/the-biggest-bank-in-france-has-atm-card-access-to-cash-in-half/ If you remember we warned about this happening  here in the U.S. (sometimes it really stinks to be right!) (Reprint below) And is it a coincidence that this is happening just as the big Bilderberg conference in St. Moritz is closing?    Is An ATM Cash Shortage Coming? Submitted by Tyler Durden on 11/08/2010 11:35 -0500 Image: Betsy Fletcher While we have no way to confirm or refute the validity of this statement presented by a supposed ATM business insider on Steve Quayle.com, it does bring up an interesting point regarding how banks may be conserving "petty cash." Of course, if this perspective is true, it validates concerns about bank capitalization, and explains the reason why the FDIC recently expanded insurance on checking accounts from $250,000 to infinity in an attempt to get Americans to put their money in their friendly neighborhood bank. Of course, that this contradicts everything that the Fed Chairman is trying to do by getting Americans to spend (or buy Netflix at a 1,000 P/E) instead of putting the money in the bank, is precisely the reason why Sheila Bair's relationship with Geithner and Bernanke is, shall we say, tenuous. From Steve Quayle (who may or may not have properly attributed the original article on Urban Survival). "George, I work with a business partner in the [region redacted] . We have combined between us 180 ATM machines that we service, Cash Load. In order to do this we NEED to order the money, 20's only from several banks on a weekly basis. This is a considerable amount weekly, 380k plus. Here is the interesting piece that is developing: In the past several weeks 4 of the MAJOR banks have informed us that they can no longer provide us with the cash for our business. Now the problem is that it is OUR money we are taking out! So speaking with bank "personnel" on the side my question was this, what is going on? how come we cannot take OUR money out? Answer: "they" are not authorized to hold, carry or have on hand anymore more than a certain amount of cash on hand! The amount we are getting, even though it is out of our account, they cannot order or have on hand that amount of cash at any time now. I am not talking small banks...large banks [large money center bank in America name redacted] etc...! We can see our ability to keep these machines with available cash is becoming more and more difficult. This has taken place just in the past few weeks. By the way, these banks were willing to lose our full business due to this issue. Trying to work with smaller banks now...we will see how long!" h/t Kyle Ben Bernanke Federal Deposit Insurance Corporation ATMs Crash Across The Country After “Bank Holiday” Warning Paul Joseph Watson -  Infowars.com - November 8, 2010 Following rumors of a “bank holiday” that could limit or prevent altogether cash withdrawals later this week, Twitter and other Internet forums were raging yesterday about numerous ATMs across the country that crashed in the early hours of Sunday morning, preventing customers from performing basic transactions. It’s unknown whether the crashes were partly a result of a surge of people trying to withdraw their money in preparation for any feared bank shutdown, or if mere technical glitches were to blame. The fact that the problem affected numerous different banks in different parts of the U.S. would seem to indicate the former. The Orange County Register reported that the problems were “part of a national outage” which prevented people from performing simple transactions such as cashing checks and withdrawing money. “Computer issues” were blamed for similar issues in Phoenix Arizona, while in Birmingham Alabama, Wells Fargo customers’ online banking accounts and ATMs displayed incorrect balances. The banks primarily affected were Wells Fargo, Chase and Bank of America, but according to blogger Phil Brennan, who studied Twitter feeds and other Internet message boards that were alight with the story, numerous other financial institutions were also affected, including US Bank, Compass, USAA, Suntrust, Fairwinds Credit Union, American Express, BB&T on the East Coast and PNC. “Twitter is going crazy with reports of ATMs and online accounts going down as of 01:00 hours EST of the 7th of November 2010,” writes Brennan. “This is happening to many banks all across America. Some are trying to say that it is a computer glitch to do with the change in Daylight Savings Time, but I will call BS on this as we manage to put our clocks back over here in the UK without knocking out ATMs and online accounts nationally.” Brennan questions whether the outages were the first warning shots in a move to “devalue the dollar,” just days after Federal Reserve chairman Ben Bernanke sparked an international currency war by announcing that the Fed will buy $600 billion of U.S. government bonds over the next eight months. Any perceived inability of banks to deal with a sudden demand for cash would undoubtedly place in peril the United States’ triple A credit rating and spark a fresh dollar crisis. “In the light of what is going on geopolitically, I am still very suspicious about the reasons for this mass downtime of ATMs and Online Accounts, adds Brennan. “There is still a very distinct possibility that November the 11th will turn into an extended Bank Holiday so I would advise all those who can get their money out of their banks to do so, even if you have to pay your upcoming bills manually.” As we reported last week, the “bank holiday” rumor has reared its ugly head once again, after a story emerged that a pastor was told by one of the managers of a prominent east coast bank that banks would close for an undetermined amount of time, and that when they reopened, “all withdrawals by checks would be limited to $500 per week – no matter what the balance in the account is.” Though the story is still an unconfirmed rumor, banks have been preparing for limiting withdrawals. As we reported back in February, Citigroup sent an advisory to its customers at the start of the year which stated that the bank reserved “the right to require (7) days advance notice before permitting a withdrawal from all checking accounts.” The advisory stoked fears that financial institutions were preparing for bank runs. Fresh food that lasts from eFoods Direct (Ad) While we still think this new bank holiday rumor will subside as the previous two did earlier this year and last, in the current economic climate it would be foolish not to keep at least a small amount of your savings in physical cash. The current financial turmoil has been likened with the post 1929 period, during which newly elected Franklin Roosevelt declared a “bank holiday” that lasted four days, therefore such a scenario is not without historical precedent. — Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a fill-in host for The Alex Jones Show. Watson has been interviewed by many publications and radio shows, including Vanity Fair and Coast to Coast AM, America’s most listened to late night talk show.

Doomsday? China claims U.S. already in default

The faces of stock traders tell the story that big trouble is brewing.

(Photo by Scott Olson/Getty Images

As a means of stirring up political opposition to the intention of Congressional conservatives to refuse to raise the debt ceiling, the Obama Administration, Congressional Democrats, and liberals in general have warned that if we do not raise the debt limit the U.S. will 'default on its obligations to its lenders.' Apparently that warning was highly misplaced. One of America's largest creditor nations, China, is claiming today that the U.S. is already defaulting on its loans. Is this the doomsday many have warned about for at least 3 years?

The Obama Administration has pursued a policy of deliberately devaluing the dollar and spending the nation into oblivion with money that is borrowed. Many astute political observers, including this writer, have warned incessantly that such a policy would ultimately lead to economic collapse. The more the Administration spends borrowed money without restraint, the more likely it is that the nation will default, given that it has no money to pay its creditors and its creditors are becoming more convinced by the day that they cannot lend America any more money.

Without the luxury of continuing to borrow money, the vast majority of America's obligations to senior adults and the disabled poor will go unfunded. This will lead to widespread suffering on a scale never before experienced in the United States of America.

Not surprisingly, the stock market plunged again today in response to such news, dipping below 12,000 for the first time in months. Today's plunge represents the worst sustained decline in stocks since 2002, just after the 9/11 attacks.

What does this mean for the average citizen on the street?

t means inflation will necessarily skyrocket. This has already happened in the food and energy sectors, but the government conveniently does not count these two items in its inflation numbers. Further, look for food shortages, energy shortages, and continued skyrocketing costs. Electricity rates will be raised to historic levels, in keeping with a statement Obama made in 2007, "Under my plan, energy costs will necessarily skyrocket."

The nation can also look for civil unrest as citizens grow increasingly outraged that their government has deliberately pursued policies that have brought the nation to the brink of ruin. Even James Carville, former Bill Clinton advisor, confirmed that such a scenario is not mere speculation or fear-mongering but a distinct possibility.

What can the government do to reverse this march into the abyss? Stop spending money. Cut the budget drastically. Don't borrow any more money. The government must live off of only what it takes in from the citizens in the current tax structure. And taxes must not be raised in any shape, form, or fashion. That would merely throw dirt on the grave.

In addition, the nation must lower the tax rate for business, making this country the most business-friendly nation on earth. Only the private sector can get the economy moving again, and a friendly and non-oppressive tax structure would do the trick in getting businesses to invest and hire workers.

Be sure to catch my blog at The Liberty Sphere. Visit my ministry site at Martin Christian Ministries.

Source: Examiner.com

• China ratings house says US defaulting: report

 

German Rating Agency Feri Downgrades US Government Bonds: AAA to AA!

The first Western downgrade of US government bonds is a fact! The German credit rating agency Feri lowered its rating on US debt by a full notch, from AAA to AA.

Here is the German press release: Feri Downgrades US Gov Debt AAA to AA

The English translation:

Homburg, 8 June 2011 - The Bad Homburg Feri EuroRating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the downgrade by the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal measures, and weaker growth prospects.

"The U.S. government has fought the effects of the financial market crisis primarily by an increase in government debt. We do not see that there is sufficient attention being paid to other measures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG. "Our rating system shows a deterioration in economic health, so the downgrading of the credit ratings of U.S. is warranted."

For the third consecutive year the deficit of the United States is in double digit percentages relative to gross domestic product (GDP). "Deficits of such magnitude are not a sustainable fiscal policy. We would reconsider the rating when the U.S. government creates a long-term sustainable budget," said Schmidt.

Feri Rating is listed on the Federal Financial Supervisory Authority (BaFin) as an EU credit rating agency approved and created with more than 20 years experience in sovereign ratings. Every month, the Feri analysts evaluate sovereign credit ratings from the perspective of a foreign investor based on the ability and willingness of countries to repay their debts. The credit ratings have eleven possible gradations between "AAA" (best credit) and "Default".

Obama's Jobs Plan Takes a Page From Marx

By Investor's Business Daily

Politics: The president has unveiled a plan to cut joblessness with an industrial policy from the 19th century. In this "new" economy, government will pick winners and losers for industry. It didn't work then, it won't work now.

Taking a cue from classical Marxist theory as well as vintage union organizing doctrine, both discounting the value of service work over manufacturing, we now see President Obama touting training for factory jobs over all others, pushing government spending in that area and calling it a jobs recovery plan.

"I see a future where we train workers who make things here in the United States, and continue a important and honorable tradition of folks working with their hands, creating value, not just shuffling paper," he said Wednesday at Northern Virginia Community College, urging students to pack up and go to ... Detroit.

As he announced his public-private "Skills for America" partnership to train and credential 500,000 students for jobs in industries favored by the Obama administration, it bears looking at how at odds this approach is to both history and economic reality.

"We know it means building the infrastructure, the roads and bridges, and manufacturing new products here ... that create good jobs," Obama said. "Above all, it means training and educating our citizens to out-compete workers from other countries."

The Bill Moyers crowd has been touting manufacturing-era nostalgia for years, claiming the world would go back on its axis if America could just shut its market and put everyone back into blue collars, turning gears and listening for the lunch whistle.

Fact is, the more advanced the economy, the greater percentage of the work force that moves out of manufacturing and into services.

Economists call this the "tertiary progression" of development - from farming and fishing, to the Industrial Revolution, to an advanced service economy. Every rich nation has followed this path - every one.

In the U.S., that move started not last decade but more than 70 years ago. In the U.S. there are six times more service workers than factory workers, boasting higher skills and per capita income. U.S. trade data consistently show U.S. surpluses in service exports across the board because that's America's competitive advantage.

Now the president wants us to "give back" all that white collar development and return to a simpler sort of economy premised on manufacturing - one that's more characteristic of today's China or Peru than a developed economy such as America.

Amazingly, he wants this even though he admits state-directed industrial policy has failed. "We've got a lot of programs out there," he said. "If a program does not work in training people for the jobs of the future and getting them a job, we should eliminate that program."

Which defies belief when one recalls he's holding up job-creating free-trade treaties with Colombia, Panama and South Korea for just such a useless training program called "Trade Adjustment Assistance," or TAA.

That program is so bad a 2008 American University study by Kara Reynolds and John Palatucci declared it "of dubious value in terms of helping displaced workers find new, well-paying employment opportunities." Obama is holding up a proven way to create jobs - trade deals - to expand TAA from $2 billion to $7 billion.

It's as if all the economic knowledge acquired in the course of the 20th century never made it to the Obama White House. Obama wants to pick industrial winners while the economy languishes from high taxes, massive new regulatory burdens and his failure on free trade.

The only logic that can explain this is that Obama means to spend more money on vocational education to prepare kids for work in industries dominated by unions - Obama's main base of political support.

Presumably, if enough community college students can be trained for traditionally unionized manufacturers, employers will have no choice but to hire them. That's a win-win-win-win for educational bureaucrats, unions, jobs and Obama's political prospects.

Too bad the rest of the economy - which accounts for three-quarters of all U.S. output - didn't make Obama's list of industrial winners.

Money Mischief – Financial Intelligence Report

Friedman Predicted the
Destruction of the Dollar

The late, great Milton Friedman
in his classic book prophetically
revealed how Obama's reckless monetary policies will cause hyperinflation and destroy our nation

Everything Barack Obama, the Federal Reserve, and Congress are doing was predicted in startling detail almost two decades ago by a famous Nobel Prize-winning economist.

His name was Milton Friedman.

Though he passed away in 2006, in his prophetic book, Friedman showed how, facing massive deficits, the U.S. government would dramatically increase the money supply; why foreign countries would stop buying our debt; how the Fed would start buying our Treasury bills; and why this would call cause massive inflation.

He even predicted that our officials would claim inflation was no problem at all.

Amazingly all of this is coming to pass!

Make no mistake about it — the Obama administration is embracing massive inflationary deficit spending.

In just 100 days, Barrack Obama has more than doubled the U.S. money supply . . . committed the government to at least $7 trillion in new spending . . . and warned the American people to expect trillion-dollar deficits for the foreseeable future.

While the media has been falling over itself to praise Obama's "bold initiatives," the question no one has been asking is, "Where is all of this money coming from?"

Decades ago, Milton Friedman answered these questions clearly and precisely in his insightful — and very topical — book, Money Mischief: Episodes in Monetary History.

In Money Mischief, Friedman even warned that the coming inflation could "destroy" our country.

Here's what he wrote: "Inflation is a disease, a dangerous and sometimes fatal disease that, if not checked in time, can destroy a society." (Money Mischief, Page 191)

You see the end result of that process in countries like Zimbabwe today, where prices double every day, and it now takes a $10 billion Zimbabwe note to buy a single loaf of bread - assuming you can find one.

Could America suffer the same fate? Friedman wrote ominously, "The fate of a country is inseparable from the fate of its currency."

Even Warren Buffett recently admitted on CNBC that the only way for the U.S. to solve its woes was to inflate the currency.

There is little doubt that Obama's massive deficit spending will doom the dollar and our economy.

You need to find out what is really happening to our economy and your wealth and get a copy of Milton Friedman's path-breaking book, Money Mischief.

Its insights are so relevant and shocking — it reads like it was just published for our times!

Other must reads for understanding and dealing with our times:

Glenn Beck's Common Sense

Saving Freedom

Catastrophe or Catastrophe CD

Liberty and Tyranny

American Progressivism

Liberal Fascism

Shut Up, America!

A Slobbering Love Affair

The 5000 Year Leap

Green Hell

Money Mischief

Also please keep checking the growing list of resources on this site!!