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?

Showing posts with label congress. budget. Show all posts
Showing posts with label congress. budget. Show all posts

Monday, October 17, 2011

New poll shows Americans blame Washington more than Wall Street for economic problems

Three years into the Obama presidency, and the American people are no longer falling for the 'blame Bush' mantra anymore.  In fact, in a recent poll by The Hill, 56% of Americans blame Washington, including Congress and the President, for the currency economic problems much more than they are blaming Wall Street.

Surely Obama is neither the first (nor last) to recognize that the scapegoating of a "minority" group (as the Wall Street "1%" clearly is) and use it as a catalyst for class warfare, is a historically very successful tactic. Well, while thousands of people may express their displeasure with their plight openly before the traditional symbols of Wall Street, it would appear that Obama is failing in his attempt at global diversion from the place where popular anger should truly lie: Congress, Senate, and of course, the White House, without whose (and by 'whose' here we clearly envision Tim Geithner, Hank Paulson and Ben Bernanke) blessings Wall Street would not exist in its current form. Yet it does, and many have figured that out. According to a brand new poll by The Hill, "in the minds of likely voters, Washington, not Wall Street, is primarily to blame for the financial crisis and the subsequent recession. - Zerohedge

The sad thing is... the leaders in Washington are so inept, even when the American people are ready to hang Wall Street Bankers (real and in effigy), politicians can't take advantage of it, and instead, become the primary targets on the economy.

Tuesday, October 11, 2011

Currency Wars part xxxx - Congress to vote on penalties to nations for devauled currencies

This evening, Congress is scheduled to vote on a bill that would penalize countries (primarily China), for what they perceive as a manipulated de-valuation of currency which helps to continue the massive trade imbalance between the US, and global economies.

  • Currency “manipulator” label: The bill establishes objective criteria that the Treasury must use to identify “misaligned” currencies, rather than the more subjective “manipulation” designation that the Treasury currently uses in its semi-annual report to Congress on foreign exchange. All instances of currency misalignment would require some type of action if not corrected; cases of intentional misalignment caused by foreign countries' policy actions—labeled under the legislation as “priority misalignment”—would require the administration to take more aggressive steps, as detailed below.

  • Anti-dumping and countervailing duties: Countervailing duties are currently applied under US law against specific goods from certain countries that are found to be subsidizing their exports. The Senate bill would require the Department of Commerce (DOC) to investigate currency undervaluation as a countervailable subsidy (under current law, the DOC has this option but is not required to do so). In addition, if “priority misalignment” hasn’t been corrected within 90 days, the full extent of currency undervaluation as calculated by the DOC or International Trade Commission (ITC) would also be explicitly reflected in anti-dumping duties. This means that domestic companies facing competition from imports would still need to file product-specific complaints with the DOC and ITC, but could add currency undervaluation to their complaint, and thus increase the remedial tariffs put in place if they are successful. This is similar to the currency bills proposed over the last few years, but unlike the original legislation offered by Senators Schumer (D-NY) and Graham (R-SC) in 2005, which would have imposed an across the board tariff on all imports from countries with undervalued currencies.

  • WTO complaint: If misalignment continues for more than 360 days, the US Trade Representative would be required to request dispute settlement proceedings in the World Trade Organization (WTO). The Treasury would also be required “to consult with” the Federal Reserve Board on remedial intervention in currency markets, though the Federal Reserve would not be required to take any action.  - Goldman Sachs
Isn't it ironic however, that the US, who has helped export the most diabolical commodity to the world, that of INFLATION, has the gall to chastise other countries and economies who simply seek to protect their own against the nation who controls the world's reserve currency?

Monday, September 26, 2011

Congress does what Congress does best... passes two month budget to nowhere

Congress, afraid of having to stay late before their extended vacation next week, was able to pass a new.... wait for it....

Stopgap budget!  A two-month budget to nowhere.

Why Americans even bother to elect Congressmen anymore when they seem to have the literacy rates of Detroit is beyond this observer.

Ahh well... come November 18th, Congress will once again huff and puff, and do a humpty-dumpty, claiming themselves celebrities for passing another small extension before zooming off for a Christmas only the rich can enjoy.