The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Thursday, December 27, 2012

Fiscal Cliff taxes in 2013 could affect 400000 jobs in one sector alone

The idiocy of taxation is that companies rarely pay for government legislation that seeks to grab more money from the productive parts of society.  This truth regarding new, old, or inane taxes may have no greater example than the 400000 jobs in the medical instrument industry, that could potentiall be lost of the fiscal cliff is not dealt with before the start of 2013.



Forbes cites a Manhattan Institute report that claims the excuse tax could cut as many as 43,000 jobs in the coming years, translating to a savings of roughly $3.5 billion.

"I want to repeal the medical device tax altogether,” Sen. Al Franken (D-Minnesota) said earlier this month, adding that time was running around without a fix before the bill’s “job-killing” tax takes its toll.

“For now, the best thing to do to ensure that this important industry continues to create jobs and producing life-saving devices is to delay this unwise tax," the senator said in a statement. “The medical device industry creates tens of thousands of good paying jobs in Minnesota and 400,000 nationwide. We should do everything we can to protect it."  - Russia Today

Thus, the continuing answer to failed fiscal policies and the move towards total marxism by Congress and the Obama administration is simply stealing more money from the productive people in America, and providing little or no value for their tax dollars.

Thursday, December 20, 2012

College income study shows education won't assure you a future of success

Proponents of education have quite often used the propaganda that higher learned not only is a vital necessity to succeed in today's world, but is the equalizer against poverty and social economic environments.  That fallacy may be coming to an end as a new study is showing that those who begin at lower levels of household income stand to earn far less for the same college Degree than those in a much higher bracket.

Meaning... in the real world, success is not measured by education and drive, but on money and the connections that come from it.


What does the above chart imply? Nothing more than that for the vast majority of people, college degrees are the modern-day equivalent of very, very expensive snake oil.

Yes: colleges are sold to you as the critical stepping stone on the path to wealth and prosperity, but sadly the empirical evidence demonstrates that when it comes to an actual, demonstrable income effect, only the wealthiest people actually benefit from a degree! The lowest fifth of household by income see their change in income decline by 10%, while the middle fifth sees an incremental 2.1% drop. Where do incomes rise? When you are already wealthy and belong to the highest fifth of households by income: there, going to college boosts your income by an additional 15.1%

And since for the great majority (excluding the richest of course), a college education is funded by even more implied poverty, i.e. debt, which is merely the opportunity cost of future income and wealth, the simply math works out as follows: college - a tool for making the rich richer, the poor poorer, and virtually everyone (excluding the richest, again, of course) a debt slave into a system that beguiles impressionable youths with dreams of money and power, and cheap low interest private and Federal student loans, only for the illusion to shatter upon graduation and all those wonderful jobs demanding a piece of paper procured in exchange for 4 years of debt-funded classes, turn out to have been a mirage all along...

In short: the only hope for a great many people is nothing but a debt trap. - Zerohedge

For a large portion of the wealthy in the world, education had little to do with their prosperity and success.  Bill Gates was a college dropout, and Sam Walton relied upon loans from his Father-in-law to build his first few retail stores.  In truth, luck, risk, and hard work achieves far more than a college Degree, and validates that in an open playing field, not all have the intestinal fortitude to be an entrepreneur because of the qualities necessary to achieve great success.

Monday, December 17, 2012

Gas prices drop below $3 per gallon in areas across the country

With the appearance of deflation entering into the U.S. economy, gas prices in a number of areas around the country are falling below $3 per gallon on Dec. 17.  From Tucson, Arizona, to Memphis, Tennessee, gas prices are nearing $2.80, with state averages holding steady at $3.10.


Tucson:

Sam's Club
4701 N Stone Ave near E River Rd - $2.82

ARCO
2790 W Ruthrauff Rd & N Davis Ave - $2.83

Hanson's
6295 E 22nd St & S Wilmot Rd - $2.83

Memphis:

Mapco
3161 S 3rd St & E Brooks Rd - $2.82

BP
3441 S 3rd St & E Mitchell Rd - $2.82

Pilot
5021 Lamar Ave & Pleasant Run Rd - $2.85

You can find out best locations and lowest prices in your state and area by going to Gasbuddy.

Tuesday, December 11, 2012

Comparing the fiscal cliff of the 1930's to today

The fiscal cliff that American is experiencing today is not he first time this type of financial disaster has faced the country.  In the 1930's, the threat to the dollar, to the economy, and to the budget were just as harsh, and was created for many of the same reasons.

The Federal Reserves inept control over the money supply, and massive bubbles created by debt.



Professor Steve Keen of Debt Deflation.com has put together a video showing the parallels and comparisons between the fiscal cliff of the Depression era, and the fiscal cliff of 2012.

Here is his presentation before Congress on Dec. 5.


Economist suggests scheme to pay off national debt with a few platinum coins

Welcome to a world where no one, including the government, is willing to pay off debts they incur.  As talks on the fiscal cliff stall once again on Dec. 11, an intriguing suggestion has been made by a university economist to pay off the $16.4 trillion national debt using a loophole scheme involving platinum coins.




Enter the platinum coins. Under current law, the Treasury is technically allowed to mint as many coins made of platinum as it wants and can assign them whatever value it pleases.

Under this scenario, the U.S. Mint would make a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Fed moves this money into Treasury’s accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations for the next two years — without needing to issue new debt. The ceiling is no longer an issue.

“I like it," said Joseph Gagnon of the Peterson Institute for International Economics. “There’s nothing that’s obviously economically problematic about it."

In theory, this is much like having the central bank print money. But, Gagnon said, the U.S. government would simply be using the money to keep spending at existing levels, so it would not create any extra inflation. And if it did cause problems, the Fed could always counteract the effects by winding down some of its other programs to inject money into the economy.

Is the platinum coin option really legal? Apparently so. - The Bulletin

What this would mean of course, is that the government would mint say 17 platinum ounce coins, giving them the denomination value of $1 trillion apiece.  Then, not only would they print the equivalent cash in a 'sale' of the coins, but after paying off the national debt, and debt owed to foreign and Fed creditors, they would have an additional $600 billion surplus, where Obama can sing to the world the lie that he not only balanced the budget, paid off the debt, but in fact, created a surplus.

We at The Daily Economist figure the Dow would open at 20,000, and Jim Cramer would hail it as the greatest financial move in history... like he did with Bear Stearns.

Friday, December 7, 2012

Demonocracy shows just how high $16 trillion will go

When most people try to picture a trillion of anything, it usually conjures up the distance between stars or galaxies.  But to the U.S. government, and our ever increasing national debt, trillions of dollars no longer phase legislators as the budget moves towards $4 trillion per year, and the national debt climbs to over $16 trillion.


Demonocracy has put together a very poignant video on just how much and high high $16 trillion would look if stacked on pallets, and raised to the sky.


Wednesday, December 5, 2012

The top 10 states not to invest money in

Back in November, Forbes magazine did a study of the top 10 (11) states which investors should not invest money, or build a new business in, and that have welfare rolls so vast, they have more takers than earners to provide for the system.

Below is the list in order of best of the worst, to cash out now.



Number 11 - Ohio Taker ratio: 1.00The battleground state has a fiscal standoff between takers (people collecting welfare, a government salary or a government pension) and makers (private sector employees).

Number 10 - Hawaii Taker ratio: 1.02Dark clouds over Waikiki Beach: Hawaii has slightly more takers than makers.

Number 9 - Illinois Taker ratio: 1.03Dubious ex-gov Rod Blagojevich personifies what's wrong with this state: Too many goodies promised to insiders. Unfunded pensions contribute to the balance of 103 takers to every 100 makers.

Number 8 - Kentucky Taker ratio:1.05Twilight in Lexington. People drawing from government slightly outnumber people chipping in with private-sector jobs.

Number 7 - South Carolina Taker ratio:1.06Riptides on Folly Beach.

Number 6 - New York Taker ratio: 1.07Blackout in the Flatiron district after the hurricane. Manhattan still has a vibrant financial sector. Manufacturing there is extinguished. Causes: taxes, unions, regulations and cheap apparel workers abroad.

Number 5 - Maine Taker ratio: 1.07

Casco Bay, Portland. This is a state with a beautiful coastline and a ratio of 107 drawers from the public fisc to every 100 contributors.

Number 4 - Alabama Taker ratio: 1.10

Cityscape seen from the Vulcan statue in Birmingham.

Number 3 - California Taker ratio: 1.39

California is generous to a fault, at least to state employees and the needy. To private sector employees, who are outnumbered, it is not so hospitable.

Number 2 - Mississippi Taker ratio: 1.49

Flooding near Tunica in May 2011. The state ranks second to worst on the list of states burdened by a high ratio of takers (welfare recipients and state employees) to makers (private sector workers).

And The Worst State to live in or lend to is...

Number 1 - New Mexico Taker ratio: 1.53

Wildfire near the Los Alamos Laboratory in June 2011. In our taker/maker ratio, federal employees are excluded from the taker count since their cost is not borne locally. That doesn't save this state from having the worst ratio in the nation.

Economic reality in Italy: Buy groceries, earn lottery ticket to win a job

Recently, two Americans split the largest lottery jackpot in history when the numbers came up golden on a $500 million pot.  However in Italy, where unemployment rates are over 11% of the population and growing more than .3 per month, a new lottery opportunity is being introduced, where grocery shoppers will have the chance to win the illustrious prize of...

a part time job as an assistant grocer.


For the unemployed in Italy, new possibilities, to get a job. A supermarket chain is giving away jobs to their customers. The premise: you have to buy for more than 30 euros, then you get a lottery ticket, which entitled to participate in the Sweepstakes. Winners of the lottery, a temporary job part time job as an assistant waiting in the supermarket.

"Our contest is open to people of all ages and backgrounds," said Alessandra Aloisi, HR Manager of Gruppo BSE, Bloomberg. The chain of one-time supermarkets in Rome sells lottery tickets, which are very well received by customers. "Some participants are even question whether the profits they may possibly pass on to a friend or relative," Aloisi Sun -

So enjoy the lottery frenzy while you can America, as it may not be too longer before the gambling concept turns into job creation for the government, states, and the U.S. economy.