President Announces His Intention To Steal More Of Your Money

8 Responses to President Announces His Intention To Steal More Of Your Money

1. Peter F.Alexander, Landscape Architect Planner says:

   December 1, 2015 at 1:40 pm

   He just said all their numbers were wrong.
   Bragger of unprecedented etc….etc…..flat out stated they were wrong with all their numbers as to cost and increase in use.
   So why did we spend billions on cronies, just for the Green Lemming Vote?

   Reply
2. rah says:

   December 1, 2015 at 1:58 pm

   Another great example of News that is not News as far as the establishment media is concerned.

   Reply
3. Gail Combs says:

   December 1, 2015 at 2:25 pm

   I do not think we can afford even one more year of Barry.

   According to the media spinners In 2008, George W. Bush ran a deficit of $485 billion after tarp the deficit was officially pushed up to $1.3 trillion. The $700 billion was a short-term loan. $500 billion of it had already been repaid by 02/02/10. from 02/02/10 — These are the true deficits: Bush $800B, Obama $1.4T

   As usual that is Lies, Damn Lies and Statistics: See Shadow Stat: Federal Deficit Reality (sept 2004)

   This shows how the game is played:
   …………… GAAP-Based …….. GAAP-Based
   Fiscal …….. “Official” …….. Deficit Without …….. Deficit With
   Year …….. Deficit …….. Soc. Sec., Etc. …….. Soc. Sec., Etc.
   ————————————————————
   2004 est. … $445 Billion …….. $800 Billion …….. $4.3 Trillion
   2003 ………. $374 Billion …….. $665 Billion ……… $3.7 Trillion
   2002 ………. $158 Billion …….. $365 Billion …….. $1.5 Trillion
   —————————————————

   So where are we now after 7 years of Oh Bummer?
   From Shadow Stat: No. 692 Special Commentary: 2015 – A World Out of Balance (51 pages)

   ….for 2014, the GAAP-based deficit was about $6 trillion, with total obligations approaching $100 trillion, against total federal debt of $17.8 trillion, levels that still are unsustainable and uncontainable (see the U.S. Dollar in Peril and Federal Debt and Deficit sections)….

   The Economy and the Fed. With highly-questionable recent reporting of surging GDP growth, the U.S. dollar rally has accelerated, propped by the illusion of booming activity, the strongest U.S. economy reported in more than a decade…

   In reality, the United States economy never recovered and still is in recession. The Fed should find itself soon enough facing-down renewed questions as to the need for another expansion of “quantitative easing.” The major difference between the Fed and its counterparts, among the traditionally stronger-currency countries, is that the counterparts tend to provide more-honest economic reporting than generally comes out of some of the U.S. statistical bureaus….

   The economic-boom mentality touted in the popular financial media is not likely to survive beyond late-March or April 2015, with likely downside surprises in this year’s benchmark revisions to key economic series, including retail sales and industrial production….

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   • Gail Combs says:

     December 1, 2015 at 2:37 pm

     And just in case you think John Williams at Shadow Stat is wrong about U.S. Dollar Demise and Hyperinflation Are Likely in Year Ahead. Remember RAH’s remarks about the trucking slacking off going into Christmas and another fellow stating the same for shipping by water.

     BUT Don’t worry folks! The International Monetary Fund has a SOLUTION! STEAL 10% of EVERYONE’s WEALTH
     Am I kidding? No and that was back in 2013 before this latest fiasco.
     The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation

     …The report itself says:

     “The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)”

     Note three takeaways. First, IMF economists know there are not enough rich people to fund today’s governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth—everyone with retirement savings or home equity—would have their assets plundered under the IMF’s formulation.

     Second, such a repudiation of private property will not pay off Western governments’ debts or fund budgets going forward. It will merely “restore debt sustainability,” allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along….

     http://www.reuters.com/resources/r/?m=02&d=20070605&t=2&i=910394&w=460&fh=&fw=&ll=&pl=&r=910394

     Reply
     • Jason Calley says:

       December 1, 2015 at 3:01 pm

       Going Galt makes more and more sense. First of all, an increasing part of our income is being taken by the state (over 50% is common). Secondly, the part that is taken is not simply being wasted, but is primarily being used for things that are actively unethical.

       Reply
       • Gail Combs says:

         December 2, 2015 at 7:59 am

         Jason, while I agree in part, Going Galt does not do anything about the threat from China. China has a HUGE population and needs to expand. The USA is relatively ’empty’ and without a strong military ripe for the taking.

         All China has to do is get North Korea to pop off a Nuke above the Midwest or eastern sea board and it takes out our electronics according to Dr Peter Vincent Pry.

         Presentation by Dr. Peter Vincent Pry
         The Atlantic and Conservation Institute
         New York City ~ April 10, 2014

         North Korea’s third illegal nuclear test on February 12, 2013, was followed by increased international sanctions, that prompted escalating threats from North Korea to make nuclear missile strikes against U.S. allies, South Korea and Japan, and the mainland United States. President Obama denied that North Korea could deliver on these threats, claiming that North Korea does not yet have nuclear armed missiles–despite assessments to the contrary by DIA, CIA, and NATO.

         Three months earlier, on December 12, 2012, North Korea successfully orbited a satellite, the KSM-3, thereby demonstrating the capability to deliver a small nuclear warhead to intercontinental ranges–against any nation on Earth. The Congressional Commission to Assess the Threat to the United States from Electromagnetic Pulse (EMP) Attack assessed that Russia, China, and North Korea (with help from Russia) have probably developed nuclear weapons of special design that produce a low explosive yield and high gamma ray output in order to generate an extraordinarily powerful EMP field. The Russians term these “Super-EMP” weapons. Independently, South Korean military intelligence and a Chinese military commentator in open sources credit North Korea with having Super-EMP warheads….

         http://www.familysecuritymatters.org/publications/detail/emp-threat-from-north-korea-2013
4. willys36 says:

   December 1, 2015 at 2:50 pm

   I was force to watch the buffoon Hussein give his post Paris news conference while using the treadmill at the gym this morning since Fox and Friends carried it live. That is the first time I ever watched him speak. That arrogant narcissist actually believes he is the most intelligent gift to mankind ever put on this earth.

   Reply
5. mikegeo says:

   December 1, 2015 at 4:28 pm

   This list misses a number since 2012 but the most recent big one – with $2.7 B of Obama loans now looking to go under, is Abengoa going into bankruptcy. It’s the big Spanish solar company and it looks to be spain’s largest bankruptcy ever at near $30 billion.

   Reply