Getting tired of the propaganda bull crap coming out of the White House about the “jobs saved?” Tired of garbage being feed to the ignorant masses gobbling it up like the press corps as if it was something more than hot air? Well this blog is for you.

The first one is a look at the productive sector of the economy or “total non-farm payrolls.” Currently it shows the Obama Administration has lost 3,961,000 private sector productive jobs since January of 2009. The numbers bottomed out at 129,588 (thousands) in December of 2009 and increased to 130,595 as of May 2010, a modest increase of 1.9% annually, but have resumed a downward decline to 130,470 indicating the strong possibility of a “double dip” recession in the future.

Civilian Participation Rate at a 26 year low of 64.7%

The second bull crap eliminator that you need to look at is the “civilian participation rate” in the labor market. This closely follows true economic activity and is pretty self explanatory. As the private sector economy heats up more people find it lucrative to find a job and participate in the economy. This number peaked at 66.4% in January of 2007 and was 65.7% in January of 2009. Recently it has hit a 26 year low at 64.4%. Anyone reading about the press reporting this statistic? Just a 1.8% drop represents 5.5 million people no longer participating in the labor force. 5.5 million people out of work who in 2007 were employed. That’s a staggering number few people realize or can relate to.

The next one is the one the White House likes to point to as “we are reducing the jobs losses because of our economic programs. Job losses were xyz and now they are abc” spiel using the “4-Week Moving Average of Initial Claims (IC4WSA), Number, Weekly, Seasonally Adjusted.” What they hope is that you are dumb enough and misinformed enough to not look at statistics one and two above or the fact that during a strong economy the number should be around 250,000.

The White House trumpets reports of “only” 454,000 job losses celebrating because it’s below the peak of 643,000 in April of 2009. This is an incredibly delusional way of looking at economic growth and policy. I guess if one were a progressive and shrinking the economy to 50% civilian participation rate was the short term goal, eventually as more and more unemployed were not counted as economic participants the unemployment rate could be reduced to 5% and weekly jobless claims reduced to 200,000 as the economic sector shrunk. Millions would be out of work and discouraged but not counted in the official statistics. The Obama Administration would be touting “only 200,000 initial unemployment claims for the week of February 13, 2013, unemployment plunges to 5%!” Something out of George Orwell. Something that fits in with the goals of Obama and his communist friends.

There are other measurements, 67 at least listed but the total non-farm payrolls and civilian participation rate give a good snapshot of productive employment and total participants in the economy. This allows a more accurate look at the employment picture.

Anybody who knows anything about politics knew it was coming sooner or latter. The progressives are desperate. They call white Republicans racist; accuse them of stealing Social Security checks or stealing Medicare funds. Same crap different year. The only difference is this year the democrats are stealing the gimme generations Medicare money. Neither side wants to talk about Social Security going in the red, my apologies to Marco Rubio, so that leaves the race card. Whitey Republican man is a racist and now the whitey Tea Party man is racist also. Hell just call all whites racist and get it over with.

Unfortunately for the progressives information flows freely and they just can’t shut down Fox News yet so all the economic myths about health care costing less, bail outs and “financial reform” are out there for the informed public to read about. Just too many of those pesky white folks who love freedom and liberty out there making trouble. All those nasty Tea Party people causing a ruckus and worse getting tired of being called racist. And to make it worse those white folks at Fox seem to be getting what the former Georgia communist jihadist congresswoman Cynthia A. McKinney referred to as a “low Negro tolerance.” Yea I guess every white man and woman is getting tired of being called a racist especially since their second class citizenship is coming to the forefront at the Department of Justice, Dealership closings 0f 2009, and any policy touched by Obama and his “redistribution” economic policies. White people are finally learning how Negroes think. Everything is in terms of black and white. Any decision that doesn’t go their way is racist. Anyone who disagrees with them is racist. White people are learning the hard way blacks are by far, no one else even close, the most racist people on the planet.

W. E. B. DuBois, who later joined the Communist Party, was the NAACP organization's first director of publicity and research, as well as the editor of the group's monthly publication The Osiris.

Of course if we want to be really racially intolerant I guess we should give the Jews who founded the NAACP their share of credit for radicalizing our America Negroes. If blacks were paying attention they would have noticed a black man was never in charge of the NAACP until 1975. The NAACP was an almost all white organization for 60 years. One gentile and nothing but Jews ran the NAACP up until 1975. Blacks were made servants by the NAACP for progressive political proposes by Jews. Funny thing is today the Muslims are using blacks for the same reasons and the Jews at the ADL are shocked that this is allowed to happen in America. I don’t know but if the Jews formed a National Association of American White People and told me to worship Karl Marx I might just get out some rope and use it on them. I don’t know that’s just me an intolerant freedom loving white man.

And so here we have a real live Negro racist in the White House who believes in Black Liberation Theology for all the lily white folks like Megan Kelly of Fox News to see. It’s hilarious for those of the millions of poor abandoned white people left in the inner cities to rot surrounded by violence, drugs, rape, bigotry, prejudice and inferior schools to see the privilege white folks starting to comprehend what its like to be a second class citizen. How does it feel Megan when your own government treat you like crap? How does it feel white America to be a second class citizen? As Eric Holder properly called white people a “nation of cowards.” Can’t argue with the man about that.

Just keep letting those 5th grade educated immigrants keep piling in and the white folks will soon have to give up on America and move to Canada. It’s amazing to see a once proud nation brought down by a few rich Jew bastards and a 12% Negro population. What a lousy way to go out. Having China kick our ass in a war would have been so much nobler than rotting from within on stupid crap like being called a “racist.”

Is anyone else out there suffering from the Obama administration racial whiplash?

The white-house didn’t know … oh wait they did know?
The buck stops with Agriculture Secretary Tom Vilsack … or did it?
It may have ended there but where did it start?

Is this just a please don’t sue us a second time AND WIN?

Sorry guys I am not buying any of this story.

One minute Shirley Sherrod gets the royal White-house boot and the next she is promoted because of a hasty ill informed mistaken decision?

NAACP is snookered by FOX News?
WOW how stupid does that make Ben Jealous and his crew?
PRETTY STUPID if you ask me since they owned the tape with Shirley Sherrod’s speech.

When the dust finally settles in all of this Barack Obama AGAIN IS ill informed, looks, acts and is an indecisive weakling. He wrings his hands over the gushing well in the gulf before he acts. He takes months to decide “to” or “not to” send extra troops into Afghanistan. The police act stupidly. Arizona immigration law is discriminatory.

Apparently the public is smarter and better informed than the man at the top and his minions.
CAN THIS BE?
SORRY IT JUST SIMPLY IS!

This is a great video that rings true for most of the visitors to this site.
It is what drives the vast majority of the “Tea Party”.

It is also important to understand President Obama DOES NOT give a fig about what “We the People” want, care about or hope will happen to our country.

We the people need to understand he has ONE AGENDA no matter what he says or who he blames for out situation. That agenda is to DESTROY OUR NATION as it was created … TO BE FREE!

He has MINIONS who follow his lead.
Both Republican as well as Democrats.
YOU HAVE THE POWER to make real change.
DO YOU HAVE THE WILL?

First we had the Bush/Pelosi/Reid $700 billion bail out in September of 2008. Now we get the “to big to fail” legislation “reform” banking legislation. A nasty piece of legislation peddled to the ignorant masses as “banking reform legislation.” What it does is pure Washington evil.

The first problem with the legislation is it creates new laws that will burden banks with additional compliance cost. This is an old favorite of the big corporations. Why? Big corporations, or in this case banks, are better able to absorb the cost of costly federal regulations. Medium and smaller banks will be less able to afford these additional costs. Big guys 1 small guys 0. The business plan of using politicians as the front guys to drive your competitors out of business is an old and well established tradition both in Washington and across the pond in London where it all started in the 16th century.

Barney Frank likes screwing the gentiles as much as he can

Everyone thinks government regulation is bad. It is for consumers and medium to small competitors but is a huge bonanza for large corporations and government bureaucrats. The more burdensome and costly the regulations the better it positions the larger corporations to maintain and increase market share at the expense of the marginal competitors. Government red tape makes big corporation dreams of oligopolies come true. And so it is with Dodd-Frank legislation. More red tape for the banking industry equals less competition for the big guys.

The second problem is it does nothing to regulate the main culprits of the financial melt down Freddie Mac and Fannie Mae. There is nothing in the bill to repeal any of the Community Reinvestment Act legislation that forced private sector banks to abandon traditional banking standards in favor of race based loans to unqualified individuals. Basically when the coast is clear Fannie and Freddie can go back to buying sub-prime mortgages from private banks and bundling them up and selling them just like last time. Congress and Acorn can resume pressuring private banks to lend to minorities or else be subjected to charges of racism and ridicule from Washington politicians. Government quotas must be meet or else! 90% of Countrywide’s loans were sold to Fannie, Freddie or backed by Ginnie Mae. Nothing changes just another bubble waiting to happen. When it comes crashing down again this new legislation gives Washington bureaucrats the power to bypass congress and write a bail out check. Who needs all that political turmoil like in October of 2008? Just shut your mouth gentiles and write that check for Goldman Sacks.

Chris Dodd is your typical dumb white guy who does whatever the smart boys tell him to do. He pretends to be a financial wizard but is too stupid to read his own mortgage contract. This asshole needs to go bye bye.

So what did we get? Besides screwed basically your standard Washington legislation protecting the big guys like Citibank, rewarding the guilty Federal Reserve, ignoring the redistributing the wealth players Fannie and Freddy, no change in tax law helping investment or penalizing debt, no acknowledgment of Washington’s role in the crisis, just another bend over and get screwed. I am sure Barney Frank loves every second of this.

Ex-prosecutor: Obama’s Kenyan activities may be ‘criminal’
McCarthy says Obama’s foreign dealings as senator possibly illegal

Limbaugh: Obama, Not the ‘Post’ but the ‘Most’ Racial President

THE END OF THE POST RACIAL PRESIDENCY by Dick Morris

Who is the real Newt Gingrich?

Let me say straight out … when Gingrich was drummed out of his speaker-ship I thought it was awful.
Not because I felt he was a great man but because of the hypocrisy behind the whole situation.
When all was said and done Gingrich and Clinton were caught in the same boat. One gracefully resigned the other disgracefully carried on.

So for that reason I salute Gingrich and continue to view Bill Clinton as the LIAR, cheat and corrupt person that he remains today.

I am republishing 2 speeches here … the first is a segment of a speech by Gingrich for Horowitz TV.
I fully support what he had to say.
What I DO NOT SUPPORT is the apparent behind the scenes NEWT GINGRICH OF RECORD.

Shortly after the election of Obama I began to noticed a slow shift of what I saw (in Gingrich) as the old Republican Guard to this new I AM REALLY A CONSERVATIVE FACE.

Personally I think it is time I abandon the “I AM CONSERVATIVE” to something that defines my mindset a little more accurately. I AM BECOMMING A CONSTITUTIONALIST … an eclectic thinker. That gives me an opportunity to pick and choose the best of all groups to suit the best needs of the whole nation

And yes I believe our founding fathers were wise beyond our understanding. I feel it is high time we go back to our roots and start over if necessary … the sooner the better.
I further believe there are millions more just like me who are willing to roll up their sleeves in order to get it done.

WE WILL DO IT!

So do we need to follow the advice of Gingrich as suggested in the video?

Some historical facts about Newt: … do leopards change their spots?

So is Gingrich suitable Presidential material today?

That is one of the decisions “we the people” will have to make in 2012.

I ran across this blog on the esteemed Ludwig von Misis and found it incredibly funny. It quotes a government economist, Kartik Athreya, of the Federal Reserve Bank of Richmond, who probably does incredible feats of regression analysis all day long running from office to office and meeting to meeting reporting his latest finding to save the world from economic collapse. Mr. Athreya warns of “economics” bloggers who talk of how easy economics is. I guess he is referring to me and others like myself who try to deprogram the Keynesian indoctrinated masses.

First Mr. Athreya I have had differential equations and the graduate programs with degrees thank you. I do understand partial derivatives and I confess I am in awe of the academic skills of some of our best economist and their published papers. Very few people understand economics at the highest levels of our humble science. But a academic understanding of higher mathematics can translate very poorly into real world economics. You may be intimately familiar with the upper reaches of regression analysis but I am intimately familiar with real world economics.

I have worked as a project manager, building inspector, construction for a few decades. Even though I am currently a professor of economics it is only because of the devastation to my industry caused by Greenspan, Bush and Keynesian economics. If you saw me you would understand I am not exactly your typical “office” person. I will tell you the average construction superintendent has more economic sense in them than the entire White House staff. Hands down not even close. Slam dunk.

I spend my time in my class trying to deprogram my government educated zombies who spout out “tax cuts lead to deficits” and other nonsense. I have to explain to them there is no money tree and Obama is not Jesus sent from heaven to give everyone a free meal. I try to get them to acknowledge that poverty is not a function of a Democrat or Republican president. I do the best I can to get them to accept facts and discount Keynesian economics as much as possible.

One of the areas we cover is the Federal Reserve and how our currency has devalued 92% since 1913. We talk about the damaging effect the Federal Reserve had in 2003 at the beginning of the housing bubble by setting the Federal Funds rate at 1%. We discus how Alan Greenspan did the right thing in the late 80′s and early 90′s during the Savings and Loan bubble by raising the Fed Funds rate to 8.9%. And how he correctly predicted the NASDAQ bubble in 1997 with his “irrational exuberance” speech. And how in 2003 he was the equivalent of a fireman showing up at a five alarm fire with a hose spraying gasoline on the fire.

We talk about how the Federal Reserve contracted the money supply 25% from 1929 to 1933. We talk about how the Federal Reserve doubled the reserve requirement from 7% to 14% for county banks in 1937 devastating the meager recovery. And lastly we talk about 1837 to 1913 when there was no Federal Reserve and how the nation prospered.

As far as economics being complex yes it certainly can be. But teaching people fairy tales like The Means to Prosperity, no matter how well intentioned, discredits the profession. I agree with Mr. Terrell that trying to prove the impossible over there at the Federal Reserve requires amazing feats of mental gymnastics and rationalization. And that it is a complete waste of time and money. You would be so much more productive using that great mind of your sweating it out in the hot sun, reading a set of building plans and creating something for the good of humanity.

So those of you that read this blog rest assured that while I do not have a Federal Reserve job I do most assuredly know economics and how it affects the peasants of the world.

Mises Daily: Wednesday, July 14, 2010 by Sterling T. Terrell

“The truth is that economics is so hard for Kartik Athreya because he is trying to do the impossible.”

I stumbled across an interesting article a few days ago. Written by Kartik Athreya, of the Federal Reserve Bank of Richmond, the article is titled “Economics is Hard. Don’t Let Bloggers Tell You Otherwise.”

The abstract of the paper declares,

In this essay, I argue that neither non-economist bloggers, nor economists who portray economics — especially macroeconomic policy — as a simple enterprise with clear conclusions, are likely to contibute [sic] any insight to discussion of economics and, as a result, should be ignored by an open-minded lay public.

To start, I might propose that the open-minded public ignore economists and organizations that are unable to run a spell-checker over the word “contribute.”

But that takes me away from the issue.

If by “hard” Athreya means that economic concepts, and results, are sometimes counterintuitive, then I can agree. Examples include the following:

* Giving the poor cash payments will result in fewer poor people — False.
* Or, setting limits on rent prices will make housing, overall, more affordable — Also false.

But that is not what Athreya means. He means that economics is so scientific and complex that the untrained economist (or a trained economist who simplifies the explanation or policy result) has nothing meaningful to contribute.

He continues in discussing the public commentary, or lack thereof, that took place after the Tsunami in East Asia and the earthquake in Haiti:

Everyone understands that seismology is probably hard enough that one probably has little useful to say without first getting a PhD in it. The key is that macroeconomics, which involves aggregating the actions of millions to generate outcomes, where the constituents pieces are human beings, is probably every bit as hard. This is a message that would-be commentators just have to learn to accept. For my part, seventeen years after my first PhD coursework, I still feel ill at ease with my grasp of many issues, and I am fairly confident that this is not just a question of limited intellect.

The truth is that economics is so hard for Kartik Athreya because he is trying to do the impossible. He still feels ill at ease in his profession, after seventeen years, because he is trying to explain the economic aggregates of entire states and nations with the tools he learned in Calculus III, Econometrics II, and Linear Algebra I.

This all reminds me of the scathing critique that Nassim Nicholas Taleb leveled in his book The Black Swan about the infiltration and paralyzing reality that rationality became to the world of mainstream economics:

It involves complicated mathematics and thus raises a barrier to entry by non-mathematically trained scholars. I would not be the first to say that this optimization set back social science by reducing it from the intellectual and reflective discipline that it was becoming to an attempt at an “exact science.” By “exact science,” I mean a second-rate engineering problem for those who want to pretend that they are in the physics department — so-called physics envy. In other words, an intellectual fraud. (p. 184)

$3.00 $2.50

For a short explanation on the limits of macroeconomics, I recommend reading “The Limits of Macroeconomics” by Roger Garrison.

For a slightly longer one, I recommend a quick reread of Human Action by Mises himself.

Additionally, I will say that recent macroeconomic developments have been easy to understand. People bought homes they couldn’t afford with the blessing of government officials. This was encouraged by the likes of Fannie Mae and Freddie Mac, and a Federal Reserve in love with a cheap-credit policy. Now, it is all being made worse by increasing regulations, higher taxes, fiscal interventions, and unneeded bailouts.

Meanwhile, I will continue to repeat that all people will be made better off in the long run by lowering taxes, easing regulations, stopping fiscal-policy interventions, and not giving the state the power to print fiat money.

And Kartik Athreya can go on making “quality” contributions to macroeconomics by recalculating the fiscal multiplier, mathematically tweaking the Phillips Curve, and taking integrals under the IS-LM curves.

Sterling T. Terrell is an economist and writer living outside of San Antonio, TX. Send him mail. See Sterling T. Terrell’s article archives.

Comment on the blog.

You can subscribe to future articles by Sterling T. Terrell via this RSS feed.
You can receive the Mises Dailies in your inbox. Go here to subscribe or unsubscribe.

Obama says: “The economy is getting better.”

That might be true for Obama himself since he came from more than humble beginnings and $100,000 a year would be an improvement for him. (Do keep in mind he lives on YOUR BUCK NOW)

For the rest of us who have seen a decline in our income and a rise in our output … somehow the comments are considered delusional on his part.

Personally I find his comments laughable.
For those who agree with him and parrot his foolishness?
I view them as simply stupid.

I heard O Reilly say the other night “why is he (Obama) doing this?”

Come on Bill get with the program here.
Obama/his minions (THE MINIONS) have one objective.
Financially bankrupt this nation!
Bravo … they are doing a great job so far!
The minions simply don’t care about blacks, whites, grays, greens or reds.
The minions care about one thing … POWER OVER YOU.
The minions will use any means at hand.
LIE, CHEAT, STEAL is the agenda.

This latest Black Panther corruption uncovered about the DOJ?
Guess what? … they are no longer protecting YOU!
How long has this been going on?
Who knows? … but under Holder (another incompetent crook) at least the light has been flicked on for all to see.

Here is the bottom line.
The government IS NO LONGER looking out for YOU.
So you better well be ready to take care of yourself.