A Wicked Financial Storm Descends On America

By: Terresa Monroe-Hamilton – The NoisyRoom

Ever since 2008, this blog has been warning about economic devastation heading our way. You see it everywhere you look today, if you bother to look that is… Gas prices are at close to an average of $4 a gallon and in parts of California, it is now hitting $7, with no end in sight. Food inflation that is rising so precipitously, it takes your breath away – but the government says there is no inflation.

In the world that is America now, all things seem to be upside down and sliding full-blown out of control. This includes the Communist who is our current Commander-in-Chief. He claims he is drilling for oil, when the opposite is true. He is blocking all of it and piling so many regulations on our coal plants in lockstep with his bud, Cass Sunstein, that they are shutting down as well. Lie after lie after infernal lie.

As for unemployment, the government is manipulating the hell out of those numbers in an attempt to calm the sheep before the slaughter. They claim it has fallen to 8.2%. Take a long look at the U6 rate, which tracks not only those out of work, but those who’ve essentially given up looking for work. It currently sits at 14.5% – close to double what is being claimed by our ‘progressive’ leadership. Real unemployment stands at closer to 19.1% and is perhaps substantially higher than that.

People are giving up on finding work. A second, even more brutal wave of foreclosures is also on the horizon. Real hunger is coming to the US and hard times that will make the Great Depression seem like the good ole days are pounding on our door. A majority of states are now close to being unable to cover pensions and other entitlements as well as expenses. Bankruptcy is an understatement for what these states are facing. So, to “solve” the problem, a number of them are taxing more which makes it worse and worse. All the while, the rising flood of fuel prices surges against the levee.

When truckers cannot fill their tanks anymore because of the cost, store shelves will become barren wastelands. Real food deserts. When people get hungry, especially when their children are hungry, they get mean and desperate. Just what the Progressives had in mind. Violence, chaos and mayhem in the streets.

So, you say… the election is not far off and we can get rid of Obama then. Maybe, maybe not… I understand a company owned at least in part by Soros will be handling voting results. It doesn’t take a genius to see how that would be manipulated. Then there is a potential war with Iran. If Obama feels his reelection is in jeopardy, war with Iran will look like just the right emergency. Or, there could be any other number of emergencies, real or ginned up like the Trayvon Martin murder that is sparking racial unrest.

If nothing else, the debt we owe will literally drag us into hell all by itself. We’re broke and we aren’t going back to yesteryear anytime soon. That would take massive cuts and pain and no one with that kind of spine exists today in our government. But until the last penny is stolen and the last party is thrown by the Progressives, they will keep spending until there is nothing left but death, war, famine and blood. And they are okay with that, trust me. We face the abyss and our leaders are embracing the gulf.

From The Economic Collapse Blog:

#1 According to one new survey, approximately one-third of all Americans are not paying their bills on time at this point.

#2 The U.S. housing industry is bracing for another huge wave of foreclosures in 2012. The following is from a recent Reuters article….

“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.

#3 The Citigroup Economic Surprise Index, a key indicator watched by many economists, is on the verge of heading into negative territory.

#4 We are supposed to be in the middle of an economic recovery in the United States, but bad news just keeps pouring in from major companies. For example, Yahoo is firing thousands of workers and Best Buy is closing dozens of stores.

#5 Richard Russell says that the “big money” is starting to quietly exit from the financial markets….

“My guess is that this is the big money that has been holding off as long as it decently can — and then dumping their goods just before the close. I don’t think the big money likes this market, and I think they have been slowly exiting this market, as quietly as they can.”

#6 Goldman Sachs is projecting that the S&P 500 will fall by about 11 percent by the end of 2012.

#7 All over the country, local governments are going into default and we have not even entered the next recession yet.

#8 The U.S. government will add more to the national debt in 2012 than it did from the time that George Washington became president to the time that Ronald Reagan became president.

#9 The Federal Reserve is desperately trying to control interest rates. The Fed purchased approximately 61 percent of all government debt issued by the U.S. Treasury Department in 2011. This is the only thing that is keeping interest rates in the United States from soaring dramatically.

#10 German industrial production is falling at a pace that is far faster then expected.

#11 Italy’s debt-to-GDP ratio is now up to 120 percent.

#12 The Spanish government admitted on Tuesday that Spain’s debt-to-GDP ratio will rise by more than 11 percent this year alone.

#13 Yields on Spanish bonds are rising to dangerous levels.

#14 The Spanish government is projecting that the unemployment rate in Spain will exceed 24 percent by the end of the year.

#15 Unemployment in the eurozone as a whole has risen for 10 months in a row and is now at a 15 year high.

#16 In the aftermath of a 77-year-old retiree killing himself in front of the Greek parliament in protest over pension cuts, the economic rioting in Greece has flared back up dramatically.

#17 At this point, Greece is experiencing an economic depression with no end in sight. Some of the statistics coming out of Greece are really hard to believe. For example, one port town in Greece now has an unemployment rate of approximately 60 percent.

#18 The IMF is asking the United States to contribute more money for European bailouts.

#19 At this point, even some of our top scientists are projecting economic trouble. For example, researchers at MIT are projecting a “global economic collapse” by the year 2030 if current trends continue.

We don’t have till 2030… I personally don’t think we have until 2013. As the stock market (which is hideously manipulated) teeters on the edge of Armageddon and those with any money at all are running for the exits, the warnings of a wicked financial storm descending on America are blaring for all they are worth. And it would seem America is still asleep. Prepare to reap the whirlwind of an economic collapse – we are at its door.

Breitbart.com: As mention above:  Record 87,897,000 Americans Not in the Labor Force amid  disappointing unemployment numbers that fell 80,000 jobs short of projections, another number is raising eyebrows: the number of Americans not in the labor force has hit a record high 87,897,000.

This figure explains why overall unemployment dropped from 8.3% to 8.2%, as the Department of Labor's unemployment figure does not include people who have given up hope and are not actively seeking employment.

When the number of individuals who have stopped looking for a job and/or who are working part-time but desire full-time employment is included--a figure known as the "underemployment rate"--real unemployment stands at 19.1%.

IS THE ECONOMY IMPROVING?

The President and his media are telling us that the economy is improving and their propaganda machine is in overdrive.  Here is an AP survey that’s hot off the presses, “More Optimism about US Jobs and Economy”.

AP surveyed twenty-four economists, not the general public.  Although the headline will influence the slumbering masses and provide a talking point to benefit the Obama administration, all we need to do is ask tax-paying Americans a few important questions.

What is your wallet telling you?  Have energy prices skyrocketed or decreased?  Have food prices risen or declined?  Are other necessities more expensive or less expensive than they were a few years ago?  Did healthcare premiums go up or down?

Truth is brought to light in an excellent article which notes the good news, but also provides economic facts that the propaganda media will not reveal:

“At the moment things are relatively stable. Some economic statistics are improving slightly and some continue to get even worse. However, it is very important to keep in mind that one of the biggest reasons why things have stabilized is because the federal government is pumping more than a trillion dollars a year into the economy that it does not have. The Obama administration is engaging in a debt binge unlike anything America has ever seen before, and yet many economic indicators are still in decline…

… you are bound to run into family and friends that will repeat to you the nonsense that they are hearing on the television about how the economy is recovering.

When they try to convince you that the economy is getting better, ask them these questions....

If the economy is getting better, then why did new home sales in the United States hit a brand new all-time record low during 2011?

If the economy is getting better, then why are there 6 million less jobs in America today than there were before the recession started?

If the economy is getting better, then why is the average duration of unemployment in this country close to an all-time record high?

If the economy is getting better, then why has the number of homeless female veterans more than doubled?

If the economy is getting better, then why has the number of Americans on food stamps increased by 3 million since this time last year and by more than 14 million since Barack Obama entered the White House?

If the economy is getting better, then why has the number of children living in poverty in America risen for four years in a row?

If the economy is getting better, then why is the percentage of Americans living in "extreme poverty" at an all-time high?

If the economy is getting better, then why is the Federal Housing Administration on the verge of a financial collapse?

If the economy is getting better, then why do only 23 percent of American companies plan to hire more employees in 2012?

If the economy is getting better, then why has the number of self-employed Americans fallen by more than 2 million since 2006?

If the economy is getting better, then why did an all-time record low percentage of U.S. teens have a job last summer?

If the economy is getting better, then why does median household income keep declining? Overall, median household income in the United States has declined by a total of 6.8% since December 2007 once you account for inflation.

If the economy is getting better, then why has the number of Americans living below the poverty line increased by 10 million since 2006?

If the economy is getting better, then why is the average age of a vehicle in America now sitting at an all-time high?

If the economy is getting better, then why are 18 percent of all homes in the state of Florida currently sitting vacant?

If the economy is getting better, then why are 19 percent of all American men between the ages of 25 and 34 living with their parents?

If the economy is getting better, then why does the number of "long-term unemployed workers" stay so high?

When Barack Obama first took office, the number of "long-term unemployed workers" in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.

But there is some good news.

When Barack Obama first took office, an ounce of gold was going for about $850. Today, the price of an ounce of gold is over $1700.

The era of great prosperity that America has enjoyed for so long is coming to an end.

In fact, our long-term economic decline is about to accelerate.

So enjoy this "bubble of hope" while you can, because it won't last long.

As I have written about previously, many are warning that Europe is on the verge of a nightmarish financial crisis that could potentially plunge us into a global recession even worse than 2008.

So let us hope for the best, but let us also prepare for the worst.”

Are you prepared?

By: AJ  -  Hat Tip: Mark Levin

Collapse: “It Will Be Sudden and Very Painful”

Ruins of houses in Fredericksburg, Virginia Circa Civil War. Are we preparing for another?

While it’s too early to tell whether or not the destruction in stock markets will continue as it did in 2008, one thing is for sure – when the bottom finally falls out of this economy it’s going to come as a surprise to tens of millions of people who have been bamboozled by their trusted politicians and corporate elite.

Today’s Dow Jones collapse of 350 points (512 when it was all said and done) is but an indicator of the severe volatility and unmitigated destruction we can expect as this crisis enters the next phase. Former comptroller general of the Government Accountability Office (GAO) David Walker warns that it’s going to hurt:

“Here’s the bottom line. If you take the total liabilities of the United States – public debt, unfunded pensions, retiree health care, under funding with regard to social security, with regard to Medicare, a range of commitments and contingencies – as of September 30 2010 we would have had to have had $61.6 trillion dollars in the bank in order to be able to cover those obligations.” Walker explained.

“The fact of the matter is that government has grown too big, promised too much and waited too long to restructure. Our problem is overwhelmingly a spending problem.” Walker, now the head of the fiscal advocacy group the Comeback America Initiative, told viewers.

“Lets understand something very simple. If you have escalating deficits and mounting debt, that means you have to increase the debt ceiling limit at some point and it means absent structural reforms in entitlement programs, defense and other spending, those represent deferred tax increases.”

“We are not exempt from a debt crisis,” he said. “We’re never going to default, because we can print money. At the same point in time, we have serious interest rate risk, we have serious currency risk, we have serious inflation risk over time. If it happens, it will be sudden and it will be very painful.”

It’s not a matter of if, but when. The course is mathematically unsustainable, and a few hundred billion in cuts, as ridiculous as it sounds, is simply not going to be enough.

As Charlie McGrath pointed out in his August 3 video report, the US government will have to take extreme measures, like Greece is being forced to take now, to keep the system alive, albeit on life support:

We are in the leagues of nations such as Greece and Italy, these other nations who their national debt far outpaces their GDP, and reality is these nations are going through austerity.

And, here comes your crisis of reality.

The austerity measures that are about to come our way are going to be like nothing we’ve ever seen or even dreamt about in this country – certainly worse than any of the politicians getting before the cameras will tell you is coming. They’re telling you if you go further into debt everything’s going to be OK.

…President Obama and Federal Reserve Chairman Bernanke are out of bullets. They have nothing left…they’ve tried everything: QE1, QE2, Stimulus 1, Stimulus 2, there’s just nothing left that can be done to help create jobs in this country.

Video:  WARNING ...Real Crisis Ahead

Many don’t believe it will happen here. But make no mistake, it’s coming (in fact, it’s happening right here and now!).

They’re going to print more money and erode your savings. They’re going to borrow more money from foreign creditors, until such time that they won’t lend to us anymore. Prices for essentials like food, energy and clothing are going to increase exponentially over the next few years. At the same time we will see forced cuts to programs like social security, Medicaid, Medicare and a host of other entitlement programs. Millions of Americans are going to feel like they’ve been hit with a sledgehammer.

The United States of America is embroiled in the next Great Depression – and there is no way out. The economy will not, contrary to the opinion of our government and the presstitutes who promote their agendas, recover in a few months. We’re in this for the long haul, as in years and decades not weeks or months, and all of us will soon learn what TEOTWAWKI means.

Source:  ShiftPlan - Mac Slavo - August 4th, 2011

Obama says we're only "halfway" to where he wants to take us as Dow drops 512 Points!

Obama says we're only "halfway" to where he wants to take us as Dow drops 512 Points!

Money/CNN is reporting it is the worst financial crisis since 2008.

"The conventional wisdom on Wall Street was that the economy was growing -- that the worst was behind us," said Peter Schiff, president of Euro Pacific Capital. "Now what people are realizing is the stimulus didn't work, and we may be headed back to recession."

There's "total fear" in the market, said Bob Doll, chief equity strategist at the world's largest money manager, BlackRock.

"In the last two weeks, we've been through the ringer," said Rich Ilczyszyn, market strategist with futures broker Lind-Waldock. "When we start looking at the recovery, there's nothing to hang our hats on anymore."

Earlier today, I read a transcript from Obama's fundraiser on Real Clear Politics where he said we weren't even "halfway there" to where he wants us to be.

When I said 'change we can believe in' I didn't say 'change we can believe in tomorrow.' Not change we can believe in next week. We knew this was going to take time because we've got this big, messy, tough democracy," President Obama said at a campaign fundraiser in Chicago on Wednesday night.

Sounds like this darned democracy thing is impeding Obama's progress.  (Remember his goal, to fundamentally transform America… into a globalist new world order where we are a second rate nation, and that is the elephant in the room that nobody in power or in the media wants to address!) If we are only "halfway" to wherever it is he's trying to take us, all I can do is pray God helps us survive until January 2013.

Sherry Phillips at Tea Party Nation - August 4, 2011 at 5:43pm

Related:

Drunken Ben Bernanke Tells Everyone How Screwed U.S. Economy Really Is

Romney Video: Obama Isn’t Working: Chicago

Globalist Imperial Network

The Smoking Gun:  Preparation for War on the People

Wiedemer: Get Ready for Second Recession, Inflation

“Raising the Debt Ceiling” For Dummies

Lost in all the politics of raising the debt ceiling is a simple understanding of why it is so dangerous to do so.

The government-controlled media is trying to ensure that the public doesn’t have the facts, lacks a clear understanding of the problem and chooses sides based on emotion.

The fact is, at the end of 2008, the Congressional Budget Office (CBO) reported, “At the end of 2008, that debt equaled 40 percent of the nation’s annual economic output (a little above the 40-year average of 37 percent). Since then, the figure has shot upward: By the end of fiscal year 2011, the Congressional Budget Office (CBO) projects federal debt will reach roughly 70 percent of gross domestic product (GDP) — the highest percentage since shortly after World War II.”

The entire US Gross Domestic Product (GDP) for 2010 was $14.62 Trillion. The US debt ceiling currently stands at $14.294 Trillion, which was exceeded in May of 2011. Obama and Congress will be raising the debt ceiling well above our US GDP. Does this make America economically stronger or weaker?

To clarify what the rating agencies said, “Standard & Poor’s and Moody’s credit rating services issued warnings that United States could be downgraded because of the continued large deficits and increasing debt.”

To say that our government is simply spending more than it takes in is an understatement when it comes to the out-of-control spending we’ve experienced under President Obama; what he’s doing is dangerous. He has spent about $12.2 Trillion in just 3 years; that’s $5.15 Trillion more than the approximate $7.05 Trillion that was given to him by taxpayers.

Obama has made America the largest debtor-nation in the history of the world and fully intends to keep spending.

To put this into perspective, let’s look at it this way… It’s like a person spending $86,500 a year when they only bring home $50,000. How long will creditors keep loaning money to this person… especially if this person says they refuse to meaningfully cut their spending and instead expects to increase it every year?

Let’s look at it another way… It took roughly 220 years for our nation to accumulate $5.181 Trillion in debt which occurred in 1996. From 1996 to the end of 2008 (12 years), another $4.473 Trillion was added to our national debt, which is why we screamed for Bush to stop spending. Obama is adding $5.15 Trillion in just 3 years. What he’s doing is dangerous.

So, if you’re not screaming for Obama to stop spending, why not? Raising the debt ceiling without significant strings attached gives him the blank checks he needs to plunge us even further into debt. He refuses to cut spending and dishonestly threatens our creditors, seniors and others in hopes they’ll support him out of fear. He’s historic alright; no President in the history of our nation has ever threatened its citizens or its creditors in this way.

Obama isn’t spending our money to help improve the lives of America’s poor, seniors, veterans, homeless, minorities or others we care deeply about. Here’s just a taste of his real priorities… where he’s been spending our money and what our kids and grandkids will be expected to repay for decades to come:

OVERSEAS

· $63 billion – US Global Health Initiative.

· $665.7 million – International Family Planning & Reproductive Health Programs.

· $1 billion – to Mexico so that they can drill in the Gulf (while Obama caused 23,000 Americans to lose their jobs because of his ban on US drilling in the Gulf).

· $2 billion – to Brazil for OFFSHORE OIL DRILLING!!!!

· $147.3 million – US pays Brazil each year in cotton subsidies to keep its mouth shut.

· $30 billion – of the $100 billion per year for UN Climate Change Policy; the UN admitted global warming is about wealth redistribution, not climate change policy.

· $430 billion from TARP that Timothy Geithner stated will be recovered by January 2011 – of which the Fed spent $350 billion in taxpayer funds to save 35 foreign banks.

· $8 billion – US pays to IMF for Greece Bailout.

· $1.9 billion – International Agriculture Programs.

· $54.1 billion – USAID to other countries for FY 2011 – President Obama already sent $173.5 billion for international/foreign assistance ($90.6 billion in 2010 – a 60% increase compared to FY 2008; $82.9 billion in 2009 – a 47% increase compared toFY 2008).

· $5.96 million – U.S. Ambassadors Fund for Cultural Preservation 2010 Awards (i.e. mosque restoration overseas). NOTE: Section 205.1(d) of title 22 of the Code of Federal Regulations prohibits USAID funds from being used for the rehabilitation of structures to the extent that those structures are used for “inherently religious activities.”

PROPAGANDA ORGANIZATIONS

· $80 billion to Apollo Alliance (socialist/communist George Soros group) to expand community agitation; see this video too.

· $422 million – Funding for Public Broadcasting/NPR – a private company that doesn’t need taxpayer funds.

· $161 million – NEH anti-American group which targets our military.

GROW GOVERNMENT

· $44 billion – This represents a 28% pay increase for Fed employees (Fed pay increased 36.9% since 2000 while private worker’s pay increased only 8.8%.)

· $148 billion – loaned to Fannie Mae and Freddie Mac – these are government operated organizations that are taking control of 90%+ of U.S. home mortgages, and these are the organizations who contributed to the housing meltdown.

· $1.416 billion – Serve America Act FY 2011 to recruit our children at school and get them into “volunteerism” (i.e. recruit and train community agitators).

· $1 billion – Dead people to whom our Federal government sends our money.

· $1.4 billion – FDA to take over our food supply and hire 17,000 more taxpayer-funded government employees.

· $400 million – Michelle Obama’s Food Deserts to open government food stores that are closer to urban areas to save residents the 5 extra minutes of driving time that it takes to get to their existing, privately owned store.

GLOBAL WARMING

· $1.741 billion – INCREASE for “critical efficiency and renewables programs” – this is just the amount of increase to their existing budget.

· $2.4 billion – “clean tech” for energy efficiency and renewable energy programs, a $2.287 billion increase from $113 million in the previous budget [ID:nN01180827].

· $6 billion – clean energy technologies.

· $535 million – Global warming money for a politically-connected private company, Solyndra, to lay off workers and build a new plant (see video here).

· $611.4 million – Bureau of Labor Statistics to gather data on ‘green jobs.’

· $123 million – DoE’s wind program, a $43 million increase over current spending.

· $300 million – the Advanced Research Projects Agency-Energy, or ARPA-E.

$880 Billion is being spent on these items alone in 2011. Are these discretionary expenditures worthy of collapsing America’s economy at a time when we need to reign in spending? If Obama continues to refuse to cut spending, that’s just what will happen.

Don’t be fooled by the propaganda coming from Obama and his regime – to include his MoveOn.org pals. They’re doing George Soros’ bidding. If you haven’t heard, Soros wants a ‘managed decline’ of our dollar and an economic collapse is exactly what he wants. Obama’s actions are clearly leading to what Soros wants.

It’s dangerous to raise the debt ceiling without significant cuts and caps on Obama’s spending and a legislative balanced-budget amendment to prevent future Presidents from doing what Obama’s doing to America.

By: AJ – Posted at the NoisyRoom

Related:

NIA Exposes Debt Ceiling Truth

Next Round in the Debt Crisis (Updated)

The object of the game is to  destroy American capitalism  by having the government take over everything!!!!
                         Want to play?   No???

Too bad, you're already playing...  and just don't know it.              

And by the way?
   You're not winning.

NIA Exposes Debt Ceiling Truth

Here’s where we are at.  Exposing the smoke and mirrors of the congress.

NIA Exposes Debt Ceiling Truth

NIA hasn't written about the whole debt ceiling issue over the past few weeks because in our minds it is completely irrelevant. Our elected representatives in Washington along with the mainstream media have been wasting thousands of hours of time and hundreds of millions of dollars debating a topic that has no meaning at all. The President, Senate, and House of Representatives are putting on a show to make it look like they care about cutting spending and balancing the budget. Except for a select few elected representatives like Ron Paul who care about protecting the U.S. Constitution and preserving what little purchasing power the U.S. dollar still has left, every other politician in Washington is putting on a complete charade in order to trick their constituents into believing there is a difference between the proposals from the Republicans and Democrats.

While our incompetent and corrupt mainstream media has been proclaiming there are major differences between the two bills proposed by House Speaker John Boehner and Senate Majority Leader Harry Reid, NIA believes John Boehner might as well be a Democrat and Harry Reid could easily pass himself off as a Republican. There are absolutely no meaningful fundamental differences between Boehner's plan that was approved by the House of Representatives yesterday evening, before being killed by the Senate two short hours later, and Reid's bill, which was just rejected by the House today in a pre-emptive vote before the Senate even had a chance to vote on it.

Both bills are estimated to reduce the U.S. budget deficit by approximately $900 billion over the next 10 years. Of the $900 billion only about $750 billion are actual discretionary spending cuts with the rest being an expected reduction in interest payments on the national debt as a result of either bill passing. When you have an unstable fiat currency that is rapidly losing its purchasing power and could collapse at any time, it is impossible to accurately project what our budget deficits will be 5 or 6 years from now, let alone 9 or 10 years from today. As far as the next two fiscal years are concerned, both proposed bills from Boehner and Reid are estimated to only cut spending by a total of about $70 billion in fiscal years 2012 and 2013 combined.

The budget that former President Bush submitted to Congress in early-2007, projected the deficit to decline in each of the following four fiscal years. Not only did the deficit not decline the next four years in a row, but it nearly tripled in 2008 and from there more than tripled in 2009. Shockingly, Bush's budget actually projected a $61 billion surplus in fiscal year 2012, but instead we will have a budget deficit of $1.1 trillion based on President Obama's latest budget, which takes into account unrealistic GDP growth next year of 4.86%.

U.S. GDP growth for the first quarter of 2011 was just revised down yesterday by 81% from 1.91% to 0.36%. The advance estimate of second quarter GDP growth came in at 1.28%, well below the consensus estimate of 1.8%. NIA is going to really go out on a limb and predict that second quarter GDP growth will soon be revised downward as well. If this is the highest GDP growth the U.S. could muster after the Federal Reserve's $600 billion in QE2 money printing, this should prove once and for all that monetary inflation does not create real economic growth and employment.

The U.S. Treasury as of Thursday night had $51.6 billion in cash, with its cash position declining by $15.2 billion during the previous 24 hours. It expects to bring in $172.4 billion from August 3rd through August 31st in tax receipts, but is scheduled to pay out $306.7 billion during this time period for an estimated deficit of $134.3 billion. The U.S. is scheduled to make its next interest payment on the national debt on August 15th and it will equal approximately $30 billion. Over the last 9 months the U.S. has spent a total of $385.9 billion on interest payments on the national debt, which means it is on track to spend a record $514.5 billion this year on interest payments alone. Just a tiny 30 basis point increase in the interest rate on the national debt would totally wipe out the deficit reductions proposed by both Boehner and Reid.

The U.S. Treasury has been able to pay its bills in recent weeks by using many different accounting gimmicks. However, come Tuesday, there will be no more accounting tricks left to play and the U.S. won't be able to meet all of its obligations. Without a raise in the debt ceiling, the U.S. government will have to prioritize who it pays using the tax receipts coming in, which will probably include the $30 billion interest payment on the national debt (to avoid a default), $49.2 billion in Social Security payments, $50 billion in Medicare/Medicaid payments, $31.7 billion in defense payments, and $12.8 billion in unemployment benefits. With $23 billion of the $49.2 billion in Social Security payments due to be paid on August 3rd and $59 billion in t-bills due on August 4th, the U.S. Treasury's remaining cash balance could dissipate very quickly.

The 10-year bond yield reached a new 2011 low yesterday of 2.785%, its lowest level since November 30th of last year. It is approaching its record low of 2.08% from December of 2008 during the middle of the financial crisis. With threats of a U.S. debt default making headlines across the world, investors are once again rushing into U.S. bonds as a safe haven. It is almost as if the whole world has gone insane. The world is fearful of the U.S. government defaulting on its debt and not being able to pay off maturing bonds, so as a safe haven let's just all rush into the very asset that will soon be worthless due to either an honest default or default by inflation. The U.S. dollar bubble is the largest and longest running bubble in world history and U.S. bonds are currently mispriced big time.

U.S. dollar-denominated bonds should be the last asset in the world to benefit from fears of a U.S. debt default. One positive sign that NIA members are having success at spreading our message to the world is that gold reached a new all time high yesterday, rising $15 to $1,631 per ounce, with silver rising $0.31 to $40.10 per ounce. Thanks to the efforts of NIA members who worked tirelessly to spread the word about NIA's economic documentaries including 'Meltup', 'The Dollar Bubble', and 'Hyperinflation Nation', a larger percentage of the global population than ever before is educated about the global currency crisis that is ahead.

During the financial crisis of late-2008/early-2009, gold and silver prices declined along with all other assets. Today, NIA estimates that half of the world's investors seeking a safe haven are buying dollar-denominated assets like U.S. Treasuries and the other half are seeking safety in precious metals. By mid-2012, investors will most likely no longer look at U.S. bonds and other dollar-denominated assets as a safe haven. During future times of uncertainty, NIA believes that precious metals will receive nearly 100% of safe haven buying, just like the U.S. dollar received 100% of safe haven buying in late-2008/early-2009.

Once the debt ceiling is inevitably raised, the U.S. Treasury will have a lot of catching up to do in order to get its house in order, and we will likely see the largest amount of debt ever sold by the U.S. government in a single month. With QE2 having finished at the end of June, the U.S. will be relying on foreigners in these upcoming record Treasury auctions. In our opinion, we are likely going to see interest rates rise at an unprecedented rate that will shock the world.

Don't believe the mainstream media's laughable claim that there is a shortage of U.S. Treasuries. It was just reported yesterday that Cambodia, one of the most rapidly growing emerging market economies with GDP growth this year of 6.5%, is moving away from the U.S. dollar, which currently accounts for 90% of their currency in circulation, in favor of its own currency the riel. NIA believes it is only a matter of time until China ends its currency peg with the U.S. dollar. The world is flooded with trillions of dollars in U.S. Treasuries that will soon have no buyers except the Federal Reserve. There is no chance of yields falling below record lows from December of 2008.

The mainstream media has been reporting all week that if the U.S. defaults on its debt as a result of a failure to raise the debt ceiling, it will be the first time that our nation has defaulted on its debt obligations. Most NIA members know that the real U.S. debt default already occurred in 1971 when President Nixon closed the gold window and stopped allowing foreign governments to convert their U.S. dollar holdings into gold. Since then, the U.S. currency system has been completely fiat and the national debt has increased by 3,400%.

For the past 40 years, the U.S. government has been running on fumes left over from when countries were able to convert their paper U.S. dollars into gold. The price of gold has increased by 3,900% during this time period, meaning the U.S. dollar has lost 97.5% of its purchasing power. Meanwhile, the median household income has only increased by 384%. In terms of gold, the median U.S. household is earning 87.9% less income today than they did in 1971. The U.S. debt default of 1971 was many times more significant than the pending debt default, because back then our foreign creditors expected to receive real money and not a piece of paper with no real value that we print. The average American family has experienced a dramatic decline in its standard of living since 1971. The U.S. dollar and its reserve currency status is currently serving as the last thread that is keeping our "house of cards" economy propped up.

The U.S. debt ceiling is very similar to a publicly traded company's authorized shares. When a public company consistently loses money like the U.S. government does, they print new shares just like the Federal Reserve prints dollars and when its total outstanding shares reach the shares authorized, the company's Board of Directors simply raises the shares authorized, which allows it to continue issuing shares and diluting shareholders. Since 1962, the U.S. has raised its debt ceiling 74 times. Any public company that needed to raise its authorized shares 74 times would likely have seen its stock price decline by 99.99% from above $10 to below 1 penny.

NIA is strongly against an increase in the debt ceiling because there are ways for our country to stay afloat and continue operating without getting deeper into debt. The U.S. is currently supposed to have 8,133.5 tonnes of gold reserves at Fort Knox. We don't know for sure if these gold reserves still exist because the last audit of our gold reserves took place in 1954 and we had the little minor issue of our real debt default in 1971. Assuming that all of our gold is still there, this gold is worth $426.5 billion at the present time, enough to cover our U.S. government's deficit spending for almost four whole months. The U.S. government also owns valuable land, buildings, monuments, and other types of Real Estate, that could also be worth hundreds of billions of dollars. Although we don't support selling all of our gold and Real Estate, if the U.S. government isn't going to implement real spending cuts that will lead to a balanced budget, we rather sell our assets than see the dollar-denominated savings and incomes of all Americans lose its purchasing power.

If we continue raising the debt ceiling and getting deeper into debt in order to pay back the debts we already have, we are defaulting on our debts through inflation. With gold at a record high of $1,631 per ounce, the market is clearly telling us that a default through inflation is coming. As the Chinese, Japanese, and our other creditors are paid back in U.S. dollars that are rapidly losing their purchasing power, they will be reluctant to increase their purchases of U.S. Treasuries in the future, which we desperately need them to do in order to fund our spending increases. With the Federal Reserve likely to become the Treasury buyer of last resort, the world will lose their confidence in the U.S. dollar and hyperinflation could potentially break out as soon as 2013.

NIA believes it is very likely that U.S. GDP will begin declining again in late-2011, which will officially put the U.S. in double-dip recession territory. In our opinion, the U.S. is still in the early stages of a hyperinflationary depression and the so-called economic recovery reported by the government and mainstream media has been completely phony and only due to misleading and manipulated economic statistics that don't factor in the real rate of U.S. price inflation. We expect Federal Reserve Chairman Ben Bernanke to do everything in his power to avoid a double-dip recession at all costs.

By the end of 2011, we are confident that not only will we see QE3 under a new name, but the Fed will act to force banks to lend their $1.6 trillion in excess reserves. It is a joke that we are debating spending cuts of $70 billion over the next two years, when only very dramatic across the board spending cuts of 50% or more of the total budget will give the U.S. any hope of balancing the budget and avoiding hyperinflation. Best case scenario, if the U.S. government cuts spending by 50% or more in all areas of the budget including entitlement programs and is able to prevent hyperinflation, NIA still believes we will see the U.S. dollar lose 90% of its purchasing power this decade with the price of gold rising to above $16,000 per ounce.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us

h/t to Anglo at Sovereignty in Colorado National Inflation Association | 96 Linwood Plaza #172 | Fort Lee, NJ 07024 Related: Next Round in the Debt Crisis (Updated)

BREAKING NEWS - GOP Speaker John Boehner (R-OH) Demands Spending 'Cuts of $Trillions!'

Cartoon By Clayton Liotta @DickMorris.Com  - Obviously There Is No Inflation

It looks like John Boehner is finally listening to the Tea Party/9.12 Project movement that put him in the office of the Speaker of the House!
In a stunning turn of events, the Ohio Republican has publicly called for "actual cuts and program reforms, not broad deficit or debt targets that punt the tough questions to the future."

Boehner has been under fire from Tea Party & 9.12 Project groups ever since he chose to compromise with the passage of multiple continuing resolutions, then a feeble compromise that cut an effective amount of LESS THAN A BILLION DOLLARS.

Has the Speaker of the House actually heard the grass roots activists who wish to restore America to greatness, or is this just more political rhetoric? Have the new GOP Constitutionalists made themselves heard, or is something else afoot?

Here's the story from Roll Call:
--------

Boehner: Spending Cuts Should Be in Trillions

By John Stanton | May 9, 2011, 6:50 p.m. | Updated: 7:57 p.m.

Speaker John Boehner warned Monday that he won’t agree to raising the debt ceiling unless Democrats and the White House accept spending cuts that exceed the increase in the nation’s debt level.

“Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase. And the cuts should be greater than the accompanying increase in debt authority the president is given,” the Ohio Republican said in a speech at the Economic Club of New York.

“We should be talking about cuts of trillions, not just billions,” he said. “They should be actual cuts and program reforms, not broad deficit or debt targets that punt the tough questions to the future.”

Boehner’s demand for such large cuts marks a sharp escalation in his rhetorical war with Democrats in advance of talks to increase the $14.3 trillion debt ceiling. Treasury Secretary Timothy Geithner predicts that the nation will default in early August unless Congress acts.

Boehner also reiterated his opposition to increasing taxes to address the nation’s debt and remained adamant that entitlements stay on the table.

“With the exception of tax hikes, which will destroy jobs, everything is on the table,” Boehner said. “That includes honest conversations about how best to preserve Medicare, because we all know, with millions of baby boomers beginning to retire, the status quo is unsustainable.”

Boehner’s speech could help blunt growing concerns among fiscal conservatives that he will cut a deal with the White House that does not include significant cuts.

He also hammered Democrats’ other economic policies, including the Dodd-Frank financial regulatory overhaul law, which he called “all wrong.”

“There was a financial meltdown in our country, and millions of Americans were hit hard. But Washington’s response was all wrong. We got a banking system that is less competitive, pitting the small community banks like the ones in my district against giant banks that the federal government deems ‘too big to fail,’” Boehner said.

“We got a consolidated banking system with a small number of large firms operating as public utilities,” he added. “We got a lot of new rules that make job creation and investment more difficult. And the government mortgage companies that triggered the whole meltdown went untouched.”

Video: Judge Napolitano on Economy in for GB on 05.09.11

Judge Andrew Napolitano once again fills in for Glenn again, who took a surprise trip to Israel and should return this week. The President’s popularity has soared in the wake of the killing of Osama (or Usama) Bin Laden. Yet behind all of the celebrations, America’s economy is still sputtering. Unemployment has ticked up back north of 9%. The national debt is pushing past 14.3 trillion dollars and the Federal Reserve shows no sign of ending its century long war on the dollar. But that didn’t stop the President from taking a victory lap last week. Now, he plans to ask Congress to borrow another 2.7 trillion dollars.

Glenn decided late last week to make a surprise trip to Israel, and is off radio and TV today to visit the country. He plans to broadcast his radio show tomorrow.

Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street

Financial and World News Noisy Room Update – 03/02/11

Published in March 2nd, 2011

STOCKS PLUNGE, THE MIDEAST CRASHES, AND GOLD SURGES: Here’s What You Need To Know

HUGE Explosion Reported In Benghazi

Complete Ineptitude Of Saudi Government Fuels Public Rage

Huge Crash In Cocoa After Technical Glitch

Check Out Pictures Of The USS Kearsarge, The Amphibious Assault Ship Zooming Towards Libya Right Now

Consumer Reports Pees All Over The Chevy Volt

Public Employees Paid More Than Private Workers in 41 States

Now The Saudi Market Is Off 7%, And This Is The Article Everyone’s Looking At

The One “High-Risk” Arab Country That Hasn’t Revolted Yet

Guess The One Country That’s LOVING The Crisis In The Middle East

The CIA Operative Who Shot Two Pakistanis Is Now A Hostage — Obama Needs To Resolve This Quickly

The Bullying Mob; Everything Tea Partiers Were Not

We’re on the verge of mob violence in Wisconsin

Flying over the cuckoo’s nest

The Lion Sleeps

‘It’s About the Children!’

“When the money stops flowing to Main St…”

SEA OF RED INK, CHINESE DEBT LARGER THAN ESTIMATED

The Saudi Market Crash Is Continuing, And Qaddafi Is Now Bombing Rebel Territories

A Super Quick And Dirty Overview Of The Saudi Economy

Shanghai Is Slipping, Oil Is Above $100, And Japan Is Getting Crushed

Now The Saudi Market Is REALLY Crashing, And There’s A Rumor Going Around Of Riots

European Markets Are Sliding Across The Board, While Libya-Connected Bank UniCredit Hits New Lows

In Just The Last Hour, The Saudi Market Crash Got A Lot Worse

How Green Is Your Lost Job?

Pakistan’s only Christian Cabinet member assassinated

Ohio Lawmakers Battle Over Union Bargaining Rights

Iran would “slaughter” people in revolt: defector

Government shutdown avoided for now, with a two-week funding extension

Mideast Unrest Rattles Markets

GAO Audit Hits Agencies for Uncoordinated, Inefficient Programs

Morning Bell: Why Liberals Love Government Waste

Low-Flush Toilets: The San Francisco Treat?

Highly Paid Federal Workers Rally to Support Union Allies in Wisconsin

Governors to Congress: We Could Do Better If Washington Got Out of the Way

Oil jumps after Libyan air strike near oil terminal

Gadhafi vows fight to last man

‘It’s a conspiracy to take our oil’

Forces retake towns near capital

Rebels push back Libya regime attack on oil port

…Want UN air strike

Farrakhan: Jews are pushing the US into war

US warships enter Suez Canal on way to Libyan waters

Panic on borders

Astonishing wealth of Gaddafi and his family revealed

YEMEN RAGES

Announced Job Cuts ‘Rose 20% From Year Ago’

Forbes: Obama is Carter

Gunman fires on US airmen at German airport; 2 dead, 2 wounded

Supreme Court rules for military funeral protesters

Barbour says Obama cheers for higher gas prices

Wisc GOP passes bill to fine AWOL Dems

Ohio union bill set for vote today

Idaho county files for bankruptcy

SHOWDOWN: Bernanke warns Republicans: Don’t hold debt-ceiling hostage

Gaddafi and the Passover story

Feds Launch Massive Organized Crime Crackdown (Hat Tip: Nancy Jacques)

The Islamic Demolition of the Statue of Liberty (Hat Tip: Brian B.) Take a look at this crap. Your eyes will bleed and your blood pressure will skyrocket…

Bernanke Doesn’t Rule Out More Bond Buying to Aid Economy

Reid, Boehner Trade Jabs On Budget Extension

NFL Labor Talks in Two-Minute Warning

R.I. Teachers to Rally in Protest of Mass Firings

Wisconsin Gov’s Budget Chock Full o’ Cuts

U.N. Builds Special Video Relationships with Google, Brit Broadcaster

Dialysis Can Wait… Union Workers Leave Sick & Elderly Patients Stranded So They Can Attend Rally

Eric Holder: Black Panther Case Demeans “My People”

Governor Scott Walker Delivers Wisconsin State Budget Address

Teachers’ Unions 101: “A” is for “agitation”

One measly deepwater drilling permit: Hoo-freaking-rah

Inflation Is Here – Just Open Up Your Eyes And Look At These 5 Financial Charts!

QE3? Several Top Federal Reserve Officials Seem To Think That More Quantitative Easing Is Necessary

See the Google Earth Images That May Have Sparked the Bahrain Unrest

Blaze Exclusive: Socialist Mantra Hidden in Grade School Chants

Message to the American Worker

SurvivalBlog:

Spot Silver was at $34.65 per Troy Ounce.

Is the U.S. dollar still a safe haven?

Peter Schiff: “We’re in the Early Stages of a Depression”

History Tells Us That A Surge In Fuel Costs Makes A US Recession Likely

Silver Squeeze to Continue

The Silver Bullet And The Silver Shield

Why The Financial Werewolves Hate Silver

Marc Faber: I Think We Are All Doomed

Source:  Financial and World News Noisy RoomUpdate – 03/02/11

Trust… Inflation… And Ice Cream - When Will You Have Your Ah Ha Moment

The problem we have in this country is trust, integrity, honor… or rather lack of!  And if we don’t have trust, we have nothing!!!

When Will You Have Your Ah Ha Moment

Video:  Inflation and Rising Prices are Here… When Will You Have Your Ah Ha Moment?

 

If you missed it check out: the Financial News Wrap Up from 01.02.11… A very long list of worrisome financial news, updates and predictions!!

Cotton Shortage Coming, Could Drive Up Clothing Prices

Uncovered:  New Calls for the Updated Cloward-Piven Strategy to Overwhelm America’s Financial System From Frances Fox Piven With SEIU and Bertha Lewis Coordination

Funny how official reports keep coming out on unemployment that jobs are added and we are holding between 9.4 and 9.8 % unemployment when all of us know more and more people out of work, under-employed or more and more who have just dropped off the grid and are no longer counted.  The official unemployment figures came out today at 9.4% and California’s will show a bit higher.  The official real unemployment in California is closer to 23%… think about it!  Who can you trust? Jobless Rate Drops to 9.4 Percent, but Hiring Falls Short of Expectations (and mind you this is for the period where extra temporary Christmas help was hired… who will mostly be let go again.)

The U.S. Constitution

(The Constitution was read by our New Congress Today… and They Edited the Reading Because Obviously the Readers… Members or Our Congress Did Not (DO NOT) Understand It… Think About It)

They left out the 3/5’s clause out of consideration for Political Correctness. For those who understand history and the 3/5’s clause, they understand that it was a measure by which the Founding Father’s ensured that slavery would eventually be defeated; it made it an anti-slavery document, as Frederick Douglass learned when he set out to prove the opposite. If you are not familiar with the 3/5’s clause please read: Giants and Original Intent… and then explain it to your Congressman and Senator. The Congress also did not read the 18^th Amendment about prohibition, but read the 21st Amendment reinstating drinking… why? The two need to be read together as well as the 3/5’s Clause to understand the process, the thought process as well as see the scars of our nation’s journey. The same sanitation is going on with our classics. Books like The Adventures of Tom Sawyer teach lessons that our children now cannot read. (Read it with your children and make sure you read an original version or at least an annotated version: The Annotated Huckleberry Finn which leaves room for discussions).

Upcoming NewSouth ‘Huck Finn’ Eliminates the ‘N’ Word
By Marc Schultz
Jan 03, 2011

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Mark Twain’s Adventures of Huckleberry Finn is a classic by most any measure—T.S. Eliot called it a masterpiece, and Ernest Hemingway pronounced it the source of “all modern American literature.” Yet, for decades, it has been disappearing from grade school curricula across the country, relegated to optional reading lists, or banned outright, appearing again and again on lists of the nation’s most challenged books, and all for its repeated use of a single, singularly offensive word: “nigger.”

Twain himself defined a “classic” as “a book which people praise and don’t read.” Rather than see Twain’s most important work succumb to that fate, Twain scholar Alan Gribben and NewSouth Books plan to release a version of Huckleberry Finn, in a single volume with The Adventures of Tom Sawyer, that does away with the “n” word (as well as the “in” word, “Injun”) by replacing it with the word “slave.”

“This is not an effort to render Tom Sawyer and Huckleberry Finn colorblind,” said Gribben, speaking from his office at Auburn University at Montgomery, where he’s spent most of the past 20 years heading the English department. “Race matters in these books. It’s a matter of how you express that in the 21st century.”

The idea of a more politically correct Finn came to the 69-year-old English professor over years of teaching and outreach, during which he habitually replaced the word with “slave” when reading aloud. Gribben grew up without ever hearing the “n” word (“My mother said it’s only useful to identify [those who use it as] the wrong kind of people”) and became increasingly aware of its jarring effect as he moved South and started a family. “My daughter went to a magnet school and one of her best friends was an African-American girl. She loathed the book, could barely read it.”

Including the table of contents, the slur appears 219 times in Finn. What finally convinced Gribben to turn his back on grad school training and academic tradition, in which allegiance to the author’s intent is sacrosanct, was his involvement with the National Endowment for the Arts’ Big Read Alabama.

Tom Sawyer was selected for 2009′s Big Read Alabama, and the NEA tapped NewSouth, in Montgomery, to produce an edition for the project. NewSouth contracted Gribben to write the introduction, which led him to reading and speaking engagements at libraries across the state. Each reading brought groups of 80 to 100 people “eager to read, eager to talk,” but “a different kind of audience than a professor usually encounters; what we always called ‘the general reader.’

“After a number of talks, I was sought out by local teachers, and to a person they said we would love to teach this novel, and Huckleberry Finn, but we feel we can’t do it anymore. In the new classroom, it’s really not acceptable.” Gribben became determined to offer an alternative for grade school classrooms and “general readers” that would allow them to appreciate and enjoy all the book has to offer. “For a single word to form a barrier, it seems such an unnecessary state of affairs,” he said.

Gribben has no illusions about the new edition’s potential for controversy. “I’m hoping that people will welcome this new option, but I suspect that textual purists will be horrified,” he said. “Already, one professor told me that he is very disappointed that I was involved in this.” Indeed, Twain scholar Thomas Wortham, at UCLA, compared Gribben to Thomas Bowdler (who published expurgated versions of Shakespeare for family reading), telling PW that “a book like Professor Gribben has imagined doesn’t challenge children [and their teachers] to ask, ‘Why would a child like Huck use such reprehensible language?’ ”

Of course, others have been much more enthusiastic—including the cofounders of NewSouth, publisher Suzanne La Rosa and editor-in-chief Randall Williams. In addition to the mutual success of their Tom Sawyer collaboration, Gribben thought NewSouth’s reputation for publishing challenging books on Southern culture made them the ideal—perhaps the only—house he could approach with his radical idea.

“What he suggested,” said La Rosa, “was that there was a market for a book in which the n-word was switched out for something less hurtful, less controversial. We recognized that some people would say that this was censorship of a kind, but our feeling is that there are plenty of other books out there—all of them, in fact—that faithfully replicate the text, and that this was simply an option for those who were increasingly uncomfortable, as he put it, insisting students read a text which was so incredibly hurtful.”

La Rosa and Williams committed to a short turnaround, looking to get the finished product on shelves by February. Mark Twain’s Adventures of Tom Sawyer and Huckleberry Finn: The NewSouth Edition will be a $24.95 hardcover, with a 7,500 first printing. In the meantime, Gribben has gone back to the original holographs to craft his edition, which is also unusual in combining the two “boy books,” as he calls them, into a single volume. But the heart of the matter is opening up the novels to a much broader, younger, and less experienced reading audience: “Dr. Gribben recognizes that he’s putting his reputation at stake as a Twain scholar,” said La Rosa. “But he’s so compassionate, and so believes in the value of teaching Twain, that he’s committed to this major departure. I almost don’t want to acknowledge this, but it feels like he’s saving the books. His willingness to take this chance—I was very touched.”

Financial News (Plus) Update – 01/02/11

2011 - Here We Go…

Niall Ferguson Video Lecture – “Empires On The Verge Of Chaos” (Hat Tip: Jean Stoner)

Healthcare repeal bill coming before Obama’s annual address (Hat Tip: Jean Stoner)

Shawn Perger on Crisis Cycle Investing, the Promise of Silver and the Internet’s New Narrative

HYPERINFLATION WILL DRIVE GOLD TO UNTHINKABLE HEIGHTS (Hat Tip: Jean Stoner)

Rattner to Pay $10 Million in Settlement With Cuomo (Hat Tip: Jean Stoner)

Former Obama ‘car czar’ settles suit with state of New York (Rattner’s $150 million kickback scheme) (Hat Tip: Jean Stoner)

50 million taxpayers must delay filing – IRS (Extension of Bush tax cuts came too late…) (Hat Tip: Jean Stoner)

Recession finds some college students homeless (Hat Tip: Jean Stoner)

Radical-In-Chief: Truth Finally Comes Out On Jeremiah Wright Connection (Hat Tip: Jean Stoner)

Premium power grab! Feds take control of insurance prices (Hat Tip: Jean Stoner)

Kiss your 100-watt lightbulb goodbye (Hat Tip: Jean Stoner)

Gerald Celente, 12.29.2010; The Fed’s $20 Trillion Bailout/Payoff (Hat Tip: Brian B.)

Illinois Review: New pension law could force municipalities to raise property taxes 60%(Hat Tip: Brian B.)

Useful Idiots and Fifth Columnists: The Media Role in the War Against the West (Hat Tip: Brian B.)

Australian towns evacuated as floods ‘of biblical proportions’… (Hat Tip: Jean Stoner)

A Czar is Born (Hat Tip: Jean Stoner)

The TSA’s state-mandated molestation (Hat Tip: Jean Stoner)

As Japan Abandons Emissions Caps, Obama Rushes Headlong Toward It (Hat Tip: Jean Stoner)

Coal’s burnout: Have investors moved on to cleaner energy sources? (Hat Tip: Jean Stoner)

Chinese Military Modernization: The Future Is Arriving Much Sooner Than Expected (Hat Tip: Jean Stoner)

Fascism Coming? Communist-Loving Congressman Doth Protest Too Much (Hat Tip: Jean Stoner)

With Air Force’s new drone, ‘we can see everything’ (Gorgon Stare) (Hat Tip: Jean Stoner)

Public Employee Unions Face Rising Public Anger (Hat Tip: Brian B.)

Interactive: The American Trade Engine (Hat Tip: Jean Stoner)

Give Me Inefficient Lighting or Give Me Death! (Hat Tip: Brian B.)

Is Upton Walking Back His Support for Light Bulb Ban? (Hat Tip: Brian B.)

Republican Who Co-Authored Light Bulb Law Wants Energy Chair (Hat Tip: Brian B.)

The Chilean Model (Hat Tip: Brian B.)

2012 Elections: Mike Pence Builds GOP Stature (Hat Tip: Brian B.)

Saffo Predicts `Decade of Turbulence’ for U.S. Economy

Goolsbee Says Failure to Raise U.S. Debt Ceiling Would Be `Catastrophic’

Rousseff Pledges to Guard Against Inflation `Plague’ as Brazil President – Spoken like a true Marxist…

Top House GOPer Predicts Bipartisan Effort to End Health Law

Lawmakers to Clash on Spending, Debt

GOP Congressman Targets EPA Rules

Foreign Worker ‘Export’ Rule Eased

More Than 1,000 Dead Birds Fall From Arkansas Sky

House Republicans plan assault on Obamacare

Piece by Piece

Issa: Obama ‘one of most corrupt presidents in modern times’

…vows to take on White House over spending

New Congress sets its eyes on oversight

Obama aide: Don’t ‘play chicken’ with debt ceiling

COMING SOON: THE INVESTIGATIONS

Iran ‘shoots down Western spy drones’ in Gulf

Beijing Residents Rush to Register New Cars to Meet China’s Quota System

ABCNEWS Staffer Warns GOP Against ObamaCare Repeal

HAPPY NEW YEAR! CALIFORNIA ENACTS 725 NEW LAWS

Rioting prisoners set fire to British jail

THE BIG STINK: Trash Piles Up Across NYC After Blizzard

Overall Movie Attendance Down Sharply in 2010

Ex-Treasury chief Paulson loses $1 million on DC home

WEB WAR: EXPEDIA Drops AMERICAN AIRLINES in Price Dispute

REP ISSA SAYS SESTAK OFFER WAS ‘OBAMA’S WATERGATE’ BUT WE WILL NOT INVESTIGATE – BUSH DID IT TOO. (Hat Tip: Jean Stoner)

More big paydays at Fannie, Freddie (Hat Tip: Jean Stoner)

DNC Chair Kaine Admits Obama Was Too Busy With Wars and ObamaCare to Care About American Jobs (Hat Tip: Jean Stoner)

Bolivians Protest Marxist Leader Morales – Torch Che Guevara Statue & Venezuelan Flag

Stalin Statue Decapitated Then Blown Up in Ukraine

Obama Starts Off 2011 With a Whopper: “I Am Committed to Creating Jobs” (Video)

Hyperinflation History: Visitors Snap Up 100 Trillion Zimbabwe Bank Notes

Hybrid Cars Get Handicap-Like Parking Privileges in Florida

Moscow Riot Police Arrest Dozens in New Year’s Anti-Government Protests

SurvivalBlog:

Ultimate Cost of 0% Money

U.S. foreclosures jumped in the third quarter; Newly initiated foreclosures up more than 30 percent

Venezuela Devaluing Currency to Revive Economy

Dude, Where’s My Job?

Gold Hits Three-Week High On Weak Dollar

Energy Stocks Rally to Fresh Two-Year Highs

US Dollar Seen Rising in 2011 After Rough 2010 (JWR is dubious and so am I…)

10% Brits Will Be Jobless in 2011

 

Hat Tip: Jean Stoner  -  Source:  the NoisyRoom – Posted by TMH