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?

Friday, August 10, 2012

Banking collapse: Fed tells banks to prepare for worst case scenario

A super secret Federal Reserve program, by which they ordered the major U.S. banks to prepare a worst case scenario contingency plan in the advent of a collapse in the banking system, was made public on Aug 10.



U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the "living wills" the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress. - Reuters

Courtesy of JP Morgan Chase
Perhaps it was due to the Federal Reserves secret plan that the American people were placed on the hook for hundreds of trillions of dollars worth of toxic assets, which JP Morgan Chase and Bank of America moved to their commercial balance sheets, allowing the FDIC and the taxpayer to be responsible for losses should they fail.

Corn report lays out the future direction for the economy

With the ongoing drought across the globe, and especially in America, corn production and yields are quickly becoming one of the most vital data indicators in the economy.  On Aug 10, the USDA issued its projected corn harvest for 2012, and the results were a 17% drop in yields, and a dire outlook for several industries and communities that rely upon the farm staple.





The U.S. Department of Agriculture Friday slashed its forecast for corn production this year by about 17% as drought conditions in key growing regions worsened.
Farmers are now expected to produce just 10.779 billion bushels of corn this year, the USDA said in its monthly World Agricultural Supply and Demand Estimates report. That's a sharp drop from the 12.97 billion bushels the agency predicted a month ago and the reduction exceeded expectations from some traders and analysts.

The new forecast puts U.S. corn production at its lowest since 2006, the USDA said. - Marketwatch
For farmers, investors, futures traders, and ethonol producers, this chart is of vast importance today, in the coming day.



At the end of June, corn futures were selling for 657 a contract.  Today, corn futures reached an inter-day high of 827 per contract, an increase in price of 26% in less than a month and a half.  Projections could raise corn prices to between $10 and $11 per bushel, which would create a price in inflation in food and ethonol to record highs.

Wednesday, August 8, 2012

Government withholding money from Social Security recipients who have student loan defaults

When President Obama endorsed going back to school shortly after he came into office, very few Americans understood what the full ramifications of this would be.  Coupled with the fact that under Obama, the government has taken over the Student Loan industry, millions of Americans have become debt slaves to Uncle Sam.

And to deal with the 30% of student loan debtors who are delinquent in their payments, the government has moved towards stricter ways of getting its money back, and this now includes withholding Social Security payments to worthy recipients.



It's no secret that falling behind on student loan payments can squash a borrower's hopes of building savings, buying a home or even finding work. Now, thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits.

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student loans. From January through August 6, the government reduced the size of roughly 115,000 retirees' Social Security checks on those grounds. That's nearly double the pace of the department's enforcement in 2011; it's up from around 60,000 cases in all of 2007 and just 6 cases in 2000.

The amount that the government withholds varies widely, though it runs up to 15%. Assuming the average monthly Social Security benefit for a retired worker of $1,234, that could mean a monthly haircut of almost $190. "This is going to catch an awful lot of people off guard and wreak havoc on their financial lives," says Sheryl Garrett, a financial planner in Eureka Springs, Ark.

Many of these retirees aren't even in hock for their own educations. Consumer advocates say that in the majority of the cases they've seen, the borrowers went into debt later in life to help defray education costs for their children or other dependents. Harold Grodberg, an elder law attorney in Bayonne, N.J., says he's worked with at least six clients in the past two years whose problems started with loans they signed up for to help pay for their grandchildren's tuition. Other attorneys say they're working with older borrowers who had signed up for the federal PLUS loan -- a loan for parents of undergraduates -- to cover tuition costs. Other retirees took out federal loans when they returned to college in midlife, and a few are carrying debt from their own undergraduate or graduate-school years. (No statistics track exactly how many of the defaulting loans fall into which category.) -
Smart Money

Over 100,000 social security recipients have had their benefits withheld in 2012 because of student loan delinquencies they have incurred, or they are bound to from co-signing with someone else.  And with the fact that nearly 50% of all Americans age 18-24 are unable to find jobs to pay off those loans, finding mercy with Uncle Sam is an fruitless activity because while your Pastor might give you remission for your choices, the government rarely forgives.

Tuesday, August 7, 2012

Wireless company using Craigslist to hire workers to give out free phones on the taxpayers dime

In Washington State, a wireless company who is coordinating with the Federal government to give out free cell phones and wireless service to the poor on the taxpayer's dime is now using Craigslist to solicit workers to shovel out the devices.

We (Touch Wireless) are looking for Agents to help market the lifeline free cell phone program and help them sign up.
This is a federally funded program that provides a free cell phone with 250 free monthly minutes and 250 monthly text to people who are on government assistance.
In this position you will work OUTDOORS in Your Community!! You will work with community organizations and Food Banks, Charities, Stores and other agencies to get the word out

* looking for English , Bi-Lingual Spanish - English and Vietnamese and Chinese
*Must have Car/ Reliable transportation
*No Prior Experience Necessary
*Bi-Lingual and good penmanship a Plus
*We will train you and make sure you're successful

Washington Qualifications:
1. Temporary Assistance to needy Families (TANF) 2. Supplemental Security Income (SSI) 3. Food Stamps
4. State Family Assistance (SFA) 5. Medical Assistance (including Medicare cost-sharing programs ETC. . .

Compensation: You will be paid $3.00 Commission for each Approved Application Submitted.

Top Representatives complete 25+ forms a day.

Send in your resume; No resume?? Reply with your PHONE NUMBER and CITY you live in for a phone interview.

** We are looking for 2 people to start immediately Wapato and Sunnyside Come help out and make $$ while you are at it

  • Location: Wapato_Sunnyside
  • Compensation: $1200.00 - $1500.00 Monthly Commission
  • This is a part-time job.
  • This is a contract job.
  • Principals only. Recruiters, please don't contact this job poster.
  • Please, no phone calls about this job!
  • Please do not contact job poster about other services, products or commercial interests.
PostingID: 3186177101
http://yakima.craigslist.org/csr/3186177101.html




Even though some in Congress have been outraged at the waste and growing bureaucracy, the fact of the matter is, once a program is created by Uncle Sam, it rarely goes away, and quite often, becomes a monster of fraud and waste.

Buy women with your rewards points on Citi credit card

While we at the Daily Economist think this was an error in coding, the fact of the matter is, Citi financial institution has taken rewards points to the next level.  In a recent survey to customers, one of the answer selections on where you would spend your rewards points includes the most interesting choice of:

Women.


Courtesy of Josh Zumbrum via Zerohedge

Whether choosing 'women' with your rewards points is an actual incentive to spend more money on your credit card is a debate for someone else, but the real question that must be asked is what KIND of women would you use rewards points for?

Wife, girlfriend, escort, blowup facsimile...

To that end, we will leave to the cardholder and ponder how long until Citi gets usurped by President Obama's presidential campaign and seeks people to use their rewards points on him.

Monday, August 6, 2012

The cost of a nation banning guns for their citizens

Recently, Austrailia became the latest politically correct country to ban a major assortment of guns from their citizens.  In the short amount of time since the ban, and public destruction of those firearms, crime has exploded with murders, home invasions, physcial assaults climbing more than 50% in each sector.


Here is a video breakdown of societal destruction once Austrailia banned firearms for their citizens.




Unfortunately, politicians are more interested in absolute control over their citizens than for public safety.  In the city of Chicago, where ownership of firearms is extremely controlled, the municipality had 8 murders last weekend alone, and was named the most dangerous city in America.

Friday, August 3, 2012

Mike Maloney: Fed should admit gold is money then close up shop and go home

In an interesting interview on RT on July 31, the founder of Goldsilver.com gave his assessment of Fed Chairman Ben Bernanke, and the central bank's attempts to stimulate the economy with failed economic policy.  In his argument, Mike Maloney openly said that the Fed is simply defrauding the world about gold, and its value as money, and to resolve the crisis, should come out and say Gold is money, then close up shop and go home.





Seems Mike is simply agreeing with Ron Paul who has challenged the Fed over and over as to why they hold gold reserves, but continuously tell the world that it is no longer money.

Las Vegas resorts offering major deals to customers in recession

In an interesting look at economic indicators, one of the most esoteric, but actually relevent is Las Vegas revenues.  Since the credit crash of 2007, and the stagnant economy dipping in and out of recession, the loss of disposable income by Americans is leading many resorts to offer outstanding deals on hotel stays.



The Plaza Hotel and Casno, along with LaOhana.com, is giving away three free nights if you simply Like their facebook page and fill out an online application.

Like our Facebook page on the right side and we will give you a 3 night stay for free at the Plaza Hotel and Casino Las Vegas.

Please fill out this form and you will receive a confirmation by email or phone from a Plaza Representative. Offer is good for one per house hold. Must stay between 8/1/2012 - 9/30/2012. Room booking must be 3 or less consecutive nights.

This is a collaboration with LaOhana.com and Plaza Hotel and Casino - laohana

Like deflationary periods in an economy, recessions can also be a boon to those individuals who live without debt, and are primary savers over spenders.  It is during the lean times that the best deals can be found for cars, homes, and in this case, vacations in Las Vegas, and there is normally no better incentive to do something than if it is offered for free.

Wednesday, August 1, 2012

Gay marriage boycotts on businesses backfires

Activists for gay marriage are engaging in an all-out push to boycott businesses that speak out, or help fund traditional marrige policies.  Chick-Fil-A franchaises, and a bakery in Colorado have been the primary focus for both activists and politicians such Chicago mayor Rahm Emmanuel.

Fortunately for American pragmatism, the boycotts appear to have backfired as business and revenues for both companies have soared since they were pushed into the crosshairs of militant gay rights protesters.


Photo courtesy of Sarah Palin/Facebook

And in Lakewood, Colorado:

The owner of a cake shop in Lakewood, Colorado said that, following a refusal to provide a wedding cake for a homosexual couple his business has more than doubled.

Jack Phillips, the owner of Masterpiece Cakeshop, told local media that this wasn’t the first time he had turned away homosexuals seeking wedding cakes, but it is the first time his stand for Christian principles has resulted in so much media attention and some death threats. - Lifesite

Gay rights advocates love to say that traditional Americans want to discriminate and keep homosexuals from their fair rights in society.  However, the underlying truth is, no one really cares if those with alternative lifestyles get naked and howl at the moon.  It is only when they choose to do so in someone else's yard, as seen by the militant stances against Chick-Fil-A and other businesses, that people begin to draw a line in the sand and use the power of their wallets to repel the nonsense of others.

Soccer fans and investors getting ready to own a stake in Manchester United

First it was fan ownership in the Green Bay Packers.  Now, soccer fans around the world can buy into one of the most lucrative clubs in Europe as Manchester United goes public in a planned IPO on August 9th.


Unfortunately for investors these days, IPO's are not the best equity to grow your money in.  All one has to do is look at Zynga, Facebook, and Linkedin to see what while Euro Soccer may be a serious money maker, investing in stocks is not.