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All Da King's Men

Economic Lies

By David King Published: November 21, 2013

According to a whistleblower, the federal Census Bureau faked unemployment data just prior to the 2012 election, making the unemployment rate appear lower than it really was. A Census employee named Julius Buckmon said he was ordered to fabricate unemployment information by higher-ups at Census. The source also said the unemployment manipulation went far beyond just this one employee. Because a falling unemployment rate would clearly benefit the incumbent, President Barack Obama, and because the Census Bureau is under the authority of the Executive branch of government, which is led by that very same President Barack Obama, this report raises some very disturbing questions.

In response to the report, the Census Bureau promptly claimed there was "no systemic manipulation" of the jobs report, and White House mouthpiece Jay Carney said the report was "obviously misleading". Hmmm. This brings to mind the IRS's claim that it wasn't systematically targeting conservative groups for two years prior to the 2012 election. That turned out to be a big old lie. Fool me once... It's time for a full investigation.

We can be heartened by the fact that we know President Obama is a man of absolute integrity who would never lie to the American public...except, of course, for the many lies he has already told to the American public, i.e., you can keep your insurance. You can keep your doctor. You're premiums will drop by $2,500. Insurance companies are greedy, blah, blah, blah. This is a man who sold his signature legislation to the American public based upon a series of lies, and the public was against it even when they accepted all his lies. I am amazed that anyone still believes anything that comes out of this President's mouth. Like I said, fool me once...

While I'm on the subject of unemployment, the official unemployment rate itself is little more than a giant lie these days. The official unemployment rate of 7.3% would seem to indicate unemployment is falling. It isn't. All you have to do is look at the unemployment-to-population ratio from the Bureau of Labor Statistics, which measures how many working-age people are actually working. You will discover that there was a steep drop in working people when the Great Recession hit, and that number has remained low, between 58-59%, for the last 50 months in a row. There has been no jobs recovery, just as there has been no wages recovery. Wages have contracted for five years in a row too.

The Federal Reserve keeps telling us inflation is low (so it can keep printing money like crazy. The M1 money supply has nearly doubled since 2008), but the inflation measure is controversial and also designed to fool you. In any case, when it takes $1.13 to buy what only took $1.00 to buy in 2007 (link), and your income is falling at the same time, it doesn't take a rocket scientitst to figure out that you are worse off than you were previously.

Obama would transform this into, "things are getting better", but there's no reason to  listen to what he says. Judging from his falling poll numbers, America is at long last catching onto his act.

I'll tell you who things are getting better for - Wall Street. That is who was helped by the Fed's quantitative easing, and this comes from a Fed official who managed QE:

A banker named Andrew Huszar that helped manage the Federal Reserve's quantitative easing program during 2009 and 2010 is publicly apologizing for what he has done.  He says that quantitative easing has accomplished next to nothing for the average person on the street.  Instead, he says that it has been "the greatest backdoor Wall Street bailout of all time."

Thus, a short-term policy to benefit Wall Street was implemented, which further weakens the dollar and massively increases debt. Btw, the federal debt increased by another trillion bucks last year, and Obama has now incurred more debt than all other American Presidents COMBINED. America's economic future is literally being destroyed by our insane fiscal policies, and I have mentioned only a few of those policies here. There is so much more, but that will have to wait until a later date. If Obama was actually trying to destroy this country, he couldn't have done a much better job of it.

That's it for now.



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