The Golden Truth: How Many Jobs Did Obama Claim To Have Saved...

Wednesday, February 3, 2010

How Many Jobs Did Obama Claim To Have Saved...

with his useless stimulus legislation and the assumption of another trillion of related indebtedness? I think the last number I saw coming from the White House was in the 700k range. You better read this before you are willing to believe that garbage - from http://www.zerohedge.com/:

Last October the BLS announced it would revise historical payrolls lower by 824,000 on February 5 (this Friday's NFP release). While this number will not impact the actual January NFP report ...while we know what the current revision will be, the scarier prospect is that the next historical adjustment, due out in early 2011, will be even larger, at least 990,000. This means that the government has overrepresented running payroll data by over 1.8 million jobs over the past 20 months. Here's the link: More Obama Lies

The country got what it voted for: garbage in, garbage out.

5 comments:

EconomicDisconnectWednesday, 03 February, 2010
Dave,
This is just unreal! Banana republic and the donkeys keep bidding up stocks (all stocks without regard to sector) like everything is fine.
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AnonymousThursday, 04 February, 2010
Dave when is this paper bs at the crimex going to end?!?!?!?!
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Dave in DenverThursday, 04 February, 2010
Good question. May not end until the Comex defaults on deliveries. Rest assured that JPM and HSBC and GS are hedged with physical probably safekept under their buildings.

The real question is, at what point will the world start to go to gold exclusively for flight to safety. I think we're starting to transition to that now.

The real tragedy about the Comex is that it illustrates just how corrupt our Govt is to let this go on.
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JoeThursday, 04 February, 2010
This is a real drubbing today. Is it a coincidence that Jim Willie just posted an article about the disconnect between paper and physical Gold?

Joe M.
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Dave in DenverThursday, 04 February, 2010
Smells of desperation, doesn't it.

They took silver down another 10 cents right at silver's comex close
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.