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News Journal: Number 35, December 1, 2010: The Audacity of Grope: A TSA Exposé–Progressive Pervert Petulent Prevaricating President–Must View Video!

Posted on December 1, 2010. Filed under: Communications, Democratic Party, Digital Communication, Ethical Practices, Ethics, Issues, Law, Mass Media, News, Newspapers, Policies, Political Parties, Politics, Print Media, Public Relations, Radio, Recordings, Republican Party, Society, Speech, Television, Web | Tags: , , , , , , , , , , |

Campaign for Liberty launches a public relations campaign against President Obama’s TSA government interventionism:

“…Got questions about the TSA? This video’s got answers. Jam-packed with all the information you need to get up to speed on the 2010 holiday airport security uproar. Get the inside scoop on full body scanners, radiation health risks, pat-downs, screw-ups, underwear bombers, cavity searches, special interests, government officials, the Constitution (specifically, the 4th Amendment), scanner storage capability, and hear from some of the most engaged minds in the debate; including Congressman Ron Paul…”

Campaign for Liberty Mission Statement

“Our mission is to promote and defend the great American principles of individual liberty, constitutional government, sound money, free markets, and a noninterventionist foreign policy, by means of educational and political activity.”

http://www.campaignforliberty.com/about.php

http://www.youtube.com/user/campaignforliberty

One point that the above video failed to address is the spread of disease as a direct result of the TSA not changing their blue gloves after each pat down.

Instead the TSA screeners use the same pair of blue gloves most of the day.

Imagine going to a doctor or dentist who wore the same blue gloves while examining many patients during the day.

An unintended consequence of the government grope will be the spread of the various influenza (flu) viruses.

The time has come to stop this security theater nonsense and start profiling passengers and targeting individuals that are more likely to be terrorist bombers.

Flawless Airline Security on Israeli Planes

TSA: Enemy of the American People?

Ron Paul: TSA Has Gone too Far

Enough is enough.

Terminate the TSA peepers and pat downs.

President Obama responds:

President Obama explains the new TSA Airport Security Screenings

Wink

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News Journal: Number 34, November 12, 2010: TSA–Thousands Standing Around To Trained Sexual Assaulters To Tyrants Scanning Americans–Videos

Posted on November 12, 2010. Filed under: Audio, Balanced Budgets, Budget, Communications, Debt, Deficits, Democratic Party, Digital Communication, Economics, Fiscal Policy, Issues, Law, Mass Media, News, Newspapers, Political Parties, Politics, Print Media, Radio, Taxes, Web | Tags: , , , , , , , , , |

“The right of the people to be secure in their persons, housses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

~United States Constitution, Fourth Amendment

If you are planning to fly this Thanksgiving or Christmas holiday to visit family and friends, you might want to seriously consider driving or taking a bus instead of flying or just stay home.

The American people’s rights under the Fourth Amendment to the United States Constitution “to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures…” is being challenged by the Transportation Security Administration of the United States Government.

When you go to through airport security you must first pass through a metal detector then a full body radiation scan.

If you elect not to have the full body radiation scan, you are called a opt outer and subject to a perverted pat down of your entire body including genitals, breast and buttocks by the government gropers of the TSA.

Woman, children, and the disabled in wheel chairs may have to go through both the full naked body radiation scan and the perverted pat down.

You choices are as follows when you opt out:

  1. Full naked body radiation scan
  2. Perverted pat downs
  3. Interrogation and possible detention, arrest and lawsuit
  4. Leave airport and drive to destination
  5. Just stay home

More and more Americans are electing to just stay home and save the time, money and invasion of their bodies and property and the legal molestation of their children by Federal Government Employees.

The American people should respond to the use of full naked body radiation scans and perverted pat downs by simply not travelling on commercial airlines.

The commercial airlines and not the Government should be responsible for security and safety on an airline flight.

When the airlines and the travel industry experience significant drops in their revenues and profits, they will insist the full naked body scans and pat downs not be used and current TSA employees become employees of the airline and not the government.

Time for Congress to revisit the whole subject of TSA, government unions, and unreasonable searches and seizures.

Metal detectors and thermal detectors are fine.

Airport Security and Screening on Fox News Channel profiling Thermal Matrix and the ACT System

End the full naked body radiation scans.

End the perverted pat downs.

End the Transportation Security Administration or TSA.

Stop unreasonable searches and seizures.

Start profiling passengers and target those who have the higher probability of being terrorists or suicide bombers.

Give the airlines the responsiblity for security and screening passengers.

 

Airline Attack Highlights Israel’s Security Success

 

Terminate Homeland Security Secretary Napolitano for approving these unreasonable searches.

Demand that your local airport opt out of TSA and select another company to perform security. 

Secretary of Homeland Security Janet Napolitano

Pushes Perverted Pat Downs and

 Full Naked Body Radiation Scans

TSA Posts Airport Screening Manual Online

TSA Manual Posted on the Internet

Senator Collins questions TSA officials on security procedure posting

TSA Fondles Women and Children Refusing Airport Naked Body Scanners

TSA airport full body scanner: a perverts dream come true.

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TSA Child Porn or Protection ?

Invasive TSA Airport Pat-Down

TSA Gropping People With New Pat Down Procedure-Getting Lawsuits

Air Travelers Not Happy With New TSA Security Measures

LIVE DEMONSTRATION OF NEW BODY AIRPORT SCANNER

TSA installs full-body scanners at Boston Logan International, other airports nationwide

TSA Body Scanners Deprive Americans of their Dignity

Scanners Too Revealing?

Woman Claims Security at DC Airport Beat Her Up

Airline Pilot to TSA: ‘No Groping Me and No Naked Photos!’ DNA Damage, Cancer Risk

Full-Body Scanners Damage Human DNA

Alex’s Encounter with TSA During Latest Trip to California

Paul Watson Discusses TSA Agents Gone Wild on The Alex Jones Show 1/2

Paul Watson Discusses TSA Agents Gone Wild on The Alex Jones Show 2/2

EPIC FOIA – Feds and TSA save and transmit Body Scan images

TSA pulls pants off 71 y/o man with knee implant

Full Body Scanner Images Stored

Paul Watson Feds Caught Storing Body Scan Images at Florida Courthouse Security Checkpoint

TSA not screening screeners

Nude Protest: Airport Body Scanners in Germany

Airport scanner – TheBikerSite

Funny Body Scanner

EXCLUSIVE: TSA Unveils New Genital Visualizers

Background Articles and Videos

Feds admit storing checkpoint body scan images

by Declan McCullagh

“…For the last few years, federal agencies have defended body scanning by insisting that all images will be discarded as soon as they’re viewed. The Transportation Security Administration claimed last summer, for instance, that “scanned images cannot be stored or recorded.” Now it turns out that some police agencies are storing the controversial images after all. The U.S. Marshals Service admitted this week that it had surreptitiously saved tens of thousands of images recorded with a millimeter wave system at the security checkpoint of a single Florida courthouse. This follows an earlier disclosure (PDF) by the TSA that it requires all airport body scanners it purchases to be able to store and transmit images for “testing, training, and evaluation purposes.” The agency says, however, that those capabilities are not normally activated when the devices are installed at airports. Body scanners penetrate clothing to provide a highly detailed image so accurate that critics have likened it to a virtual strip search. Technologies vary, with millimeter wave systems capturing fuzzier images, and backscatter X-ray machines able to show precise anatomical detail. The U.S. government likes the idea because body scanners can detect concealed weapons better than traditional magnetometers. This privacy debate, which has been simmering since the days of the Bush administration, came to a boil two weeks ago when Homeland Security Secretary Janet Napolitano announced that scanners would soon appear at virtually every major airport. The updated list includes airports in New York City, Dallas, Washington, Miami, San Francisco, Seattle, and Philadelphia. …” Read more: http://news.cnet.com/8301-31921_3-20012583-281.html#ixzz14ztWIFHJ

Pilots and passengers rail at new airport patdowns

By Jeremy Pelofsky

“…Executives from the travel industry, including online travel sites, theme parks and hotels, were set to meet Homeland Security Secretary Janet Napolitano and Pistole on Friday to discuss their concerns that security is crimping travel. “We have received hundreds of e-mails and phone calls from travelers vowing to stop flying,” said Geoff Freeman, an executive vice president of the U.S. Travel Association, which set up the meeting with the Obama administration officials. “You can’t talk on the one hand about creating jobs in this country and getting this economy back on track and on the other hand discourage millions of Americans from flying, which is the gateway to commerce,” he said. Privacy groups have challenged the new body scanners in court, saying they are a violation of privacy and illegal. Lawmakers plan to hold hearings on aviation security next week when they return to Washington. Some travelers are also livid about how children are being screened. During a trip last Sunday by a father and son through Orlando airport in Florida, the 8-year-old boy was selected for extra screening by TSA after going through the metal detector. The father said the officer described the procedure before conducting it. Then he patted down the boy in the open security area, using the backside of his hands to check his genital area, he said. “I didn’t think it was going to be as horrible as he was describing,” said the boy’s father, Bill, who works as a lobbyist in Washington and did not want his full name used. …” http://www.reuters.com/article/idUSTRE6AA55S20101111?ref=nf

U.S. Marshals Service Storing Naked Body Scanner Images

Kurt Nimmo “…Now it turns out police agencies, including the U.S. Marshals Service, are storing naked body scanner images too. In response, the advocacy group Electronic Privacy Information Center has filed a lawsuit asking a federal judge to grant an immediate injunction and putting a kibosh to the intrusive and unconstitutional snoop program. Fresh food that lasts from eFoods Direct Despite the revelation, the TSA steadfastly maintains that naked body scanners are delivered to airports with the image recording functions disabled. “We’re not recording them,” TSA spokeswoman Sari Koshetz told CNET on Wednesday. “I’m reiterating that to the public. We are not ever activating those capabilities at the airport.” Let’s get serious here. Naked body scanners are obviously being used to compliment existing dossiers on Americans. The NSA, FBI, CIA, and multitudinous government agencies have long profiled all aspects of the lives of American citizens. Images captured by naked body scanners, including images of genitals, are merely the next logical step in this process. …” http://www.infowars.com/u-s-marshals-service-storing-naked-body-scanner-images/

Transportation Security Administrion

PROCUREMENT SPECIFICATION FOR WHOLE BODY IMAGER DEVICES FOR CHECKPOINT OPERATIONS

“…3.1.1.1.2 Privacy TSA policy dictates that passenger privacy is maintained and protected during passenger screening. To ensure passenger privacy safeguards arc in place, WEI systems will prohibit the storage and exporting of passenger images during normal screening operations. When not being used for normal screening operations, the capability to capture images of non-passengers for training and evaluation purposes is needed. To ensure that image capturing maintains passenger privacy, the WEI will provide two distinct modes of operation: Screening Mode and Test Mode as defined in 3.1.1.3.1. During Screening Mode, the WEI shall (6) be prohibited from exporting passenger image data, including via STIP. During Test Mode, the WEI shall (7) not be capable of conducting passenger screening. The WBI shall (8) prohibit local storage of image data in all modes. The WEI shall (9) employ 256-bit encryption for image data in accordance with Fcderal Information Processing Standard (FIPS) 197 Advanced Encryption Standard (AES). http://epic.org/open_gov/foia/TSA_Procurement_Specs.pdf

Are airport full body scanners a danger?

Jane Jamison

Massachusetts Institute of Technology (MIT) “Technology Review” reports the technology can harm human DNA:

“The evidence that terahertz radiation damages biological systems is mixed. “Some studies reported significant genetic damage while others, although similar, showed none,” say Boian Alexandrov at the Center for Nonlinear Studies at Los Alamos National Laboratory in New Mexico and a few buddies. Now these guys think they know why.

The airport scanning technology creates a “picture” of the passenger’s body. Clothing is not really visible. Body parts, or any “additions” or augmentations to the body, such as an implanted plastic bag of explosives, are visible. …”

By Wesley Clark, MD
“…The Department of Homeland Security has the authority to stop, search, and detain anyone and anything (including the contents of your computer), for any reason, within a “Constitution-Free Zone,” resident or traveler, without a warrant and without even having probable cause — only a reasonable suspicion, which by DHS rules and case law can include even ethnic indicators. Two-thirds of Americans live within this Constitution-Free Zone, especially the “liberal” residents of coastal cities in the “blue states.”
Ostensibly, your decision to travel by airline implies your choice to abandon your rights to privacy in order to serve the cause of collective security. If you don’t like it, just travel by car or bus instead — but don’t venture within one hundred miles of the border or the coast, or you may be subject to warrantless search without probable cause by other TSA agents with the Border Patrol or the Immigration and Customs Enforcement divisions.
The newly infamous body scanners are of two types. Millimeter wave scanners generate high-frequency photons, in the “terahertz” radiation band from 30 to 300 gigahertz frequency, that are able to penetrate clothing to strike the body — but penetrating much less than x-rays, that have a higher frequency and energy levels.
Backscatter scanners generate low-energy x-rays, which readily penetrate clothing, while some portion are reflected (backscattered) from the surface of the skin, detected, and used by the scanner to generate the detailed image. X-rays are ionizing radiation and are judged to have no minimum safe threshold exposure. Exposure is cumulative over one’s lifetime. This has potential implications for frequent fliers and flight personnel, who also accumulate increased lifetime exposure from cosmic ray exposures at altitude.
Consequently, serious concerns have been raised regarding unrecognized radiation effects of the body scanners. Exposure to high-energy photons of terahertz frequencies may be damaging to the

Airport Body Scanners Finding Controlled Substances NOT Bombs!

TSA Screeners Frequently Miss Fake Bombs!

How the airport body scanner is used

TSA – Three Simple Steps

TSA – Laptops and Electronics

TSA – Why ID?

TSA – Traveling with Children

AT X-ray and Advanced Belts: TSA Checkpoint Evolution

Composure Benches: TSA Checkpoint Evolution

Transportation Security Administration (TSA)

“…The Transportation Security Administration (TSA) was created as part of the Aviation and Transportation Security Act passed by the U.S. Congress and signed into law by President George W. Bush on November 19, 2001. The TSA was originally organized in the U.S. Department of Transportation but was moved to the U.S. Department of Homeland Security on March 25, 2003. The agency is responsible for security in all modes of transportation.[1] …”

http://en.wikipedia.org/wiki/Transportation_Security_Administration

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News Journal: Number 33, November 9, 2010: Tea Party Movement Expects Republican Party To Balance The Budget By Cutting Spending Now!

Posted on November 9, 2010. Filed under: Audio, Balanced Budgets, Banking, Budget, Communications, Debt, Deficits, Democratic Party, Economics, Fiscal Policy, Issues, Mass Media, Monetary Policy, Money, News, Newspapers, Political Parties, Politics, Print Media, Republican Party, Society, Taxes, Web | Tags: , , , , , , , , , , , , |

Debt Clock

http://www.usdebtclock.org/

Economics 101 – It’s Simple to Balance The Budget Without Higher Taxes!

Deficits are Bad, but the Real Problem is Spending

Meltzer Says U.S. Economic Programs Have Been `Foolish’

Ron Paul – Dr. Allan Meltzer

No Compromise: Issa, Ryan and Cantor Will Cut Runaway Federal Spending

Eric Cantor Discusses Tax Rates, Ending Earmarks & Cutting Spending On Fox News Sunday

Rand Paul: GOP must consider military spending cuts

Ron Paul on the Deficit, Government Spending, and Military Industrial Complex (1988)

The tea party movement is expecting the Republican Party to balance the Fiscal Year 2011 and 2012 budgets or face the consequences or fate in 2012 of the big spending Democrats in this past election.

Instead the Republican Party is talking about a Fiscal Year 2008 level of total outlays of about $3 trillion dollars.

This is definitely an improvement over President Obama’s estimated budget deficits exceeding over $1,000 billion in FY 2010 and FY 2011.

However, it still would not come close to balancing the budget in FY 2011 where tax revenues are expected to be about $2,567 billion.

Unfortunately the deficit would be about $400 billion for the total combined on-budget and off-budget.

Refer to the following receipts and outlay estimates at:

Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (−): 1789–2015

http://www.whitehouse.gov/omb/budget/Historicals/

The total estimated tax revenues for FY 2011 and FY 2012 are $2,567 billion and $2,926 billion respectively for the combined on-budget and off-budget.

The total estimated outlays for FY 2011 and FY 2012 are $3,834 billion and $3,755 billion respectively for the combined on-budget and off-budget.

The total estimated deficits for FY 2011 and FY 2012 are $1,267 billion and $828 billion respectively for combined on-budget and off-budget.

To balance the combined on-budget and off-budget the FY 2011 outlays would need to about the level of Fiscal Year 2005 of $2,472 billion.

To balance the combined on-budget and off-budget the FY 2012 outlays would need to about the level of Fiscal Year 2008 of $2,983 billion.

Either balance the budget or face the consequences in 2012.

Stop dithering.

Start shutting down entire Federal Departments, agencies and programs.

Milton Friedman on Libertarianism (Part 4 of 4)

Pass the FairTax and limit future outlays or expenditures for the total on-budget and off-budget to 80% of previous year’s tax revenue from the FairTax.

The FairTax: It’s Time

The remaining 20% of FairTax revenues would go to pay down the debt.

Time for some real change and hope.

Stop spending our future and balance the budget.

Stop Spending Our Future – The Crisis

Background Articles and Videos

 

Keynesian Economics vs. Austrian Economics

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

 

Warren Harding and the Forgotten Depression of 1920

by Thomas E. Woods, Jr.

“…The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent. No wonder, then, that Secretary of Commerce Herbert Hoover – falsely characterized as a supporter of laissez-faire economics – urged President Harding to consider an array of interventions to turn the economy around. Hoover was ignored.

Instead of “fiscal stimulus,” Harding cut the government’s budget nearly in half between 1920 and 1922. The rest of Harding’s approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third. The Federal Reserve’s activity, moreover, was hardly noticeable. As one economic historian puts it, “Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.”2 By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and was only 2.4 percent by 1923.

It is instructive to compare the American response in this period to that of Japan. In 1920, the Japanese government introduced the fundamentals of a planned economy, with the aim of keeping prices artificially high. According to economist Benjamin Anderson, “The great banks, the concentrated industries, and the government got together, destroyed the freedom of the markets, arrested the decline in commodity prices, and held the Japanese price level high above the receding world level for seven years. During these years Japan endured chronic industrial stagnation and at the end, in 1927, she had a banking crisis of such severity that many great branch bank systems went down, as well as many industries. It was a stupid policy. In the effort to avert losses on inventory representing one year’s production, Japan lost seven years.”3

The U.S., by contrast, allowed its economy to readjust. “In 1920–21,” writes Anderson, “we took our losses, we readjusted our financial structure, we endured our depression, and in August 1921 we started up again. . . . The rally in business production and employment that started in August 1921 was soundly based on a drastic cleaning up of credit weakness, a drastic reduction in the costs of production, and on the free play of private enterprise. It was not based on governmental policy designed to make business good.” The federal government did not do what Keynesian economists ever since have urged it to do: run unbalanced budgets and prime the pump through increased expenditures. Rather, there prevailed the old-fashioned view that government should keep spending and taxation low and reduce the public debt.4 …”

http://www.lewrockwell.com/woods/woods125.html

Historical Tables

Historical Tables provides data on budget receipts, outlays, surpluses or deficits, Federal debt, and Federal employment over an extended time period, generally from 1940 or earlier to 2011 or 2015.

Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (−): 1789–2015

http://www.whitehouse.gov/omb/budget/Historicals/

High Taxes and High Budget Deficits
The Hoover–Roosevelt Tax Increases of the 1930s
by Veronique de Rugy, Fiscal Policy Analyst, Cato Institute

“…Conclusion
The tax increases of the 1930s coincided with large
deficits and economic stagnation. While the monetary and
trade policy mistakes of the 1930s are now widely
understood, the tax policy mistakes are less appreciated.
As Congress grapples with today’s budget deficit and
mediocre economic growth, it should look to the tax cuts
of the 1920s for inspiration rather than the failed “budget
balancing with high taxes” approach of the 1930s.”

http://www.cato.org/pubs/tbb/tbb-0303-14.pdf

 

Can GOP Shrink Government Spending?

Ron Paul in San Francisco – Amazing Speech!

Republicans roll out “Pledge to America”

Related Posts On Pronk Palisades

Heritage Foundation 2010 Budget Charts–Federal Spending

Heritage Foundation 2010 Budget Charts–Federal Revenue

Heritage Foundation 2010 Budget Charts–Federal Debt and Deficits

Heritage Foundation 2010 Budget Charts–Federal Entitlements

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Richard Ebeling–America’s New Road to Serfdom and the Continuing Relevance of Austrian Economics –Videos

Milton Friedman–Videos

Milton Friedman–Capitalism and Freedom–Videos

Milton Friedman On Business–Videos

Milton Friedman On Education–Videos

Milton Friedman On Monetary Policy–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Milton Friedman–Economic Myths–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

Robert Higgs–The Complex Path of Ideological Change–Videos

Robert Higgs–The Great Depression and the Current Recession–Videos

Robert Higgs–Why Are Politicians Always Trying to Scare Us?–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Paul Krugman–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Liberal Fascism–Jonah Goldberg–Videos

Dan Mitchell–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Robert P. Murphy–Government Stimulus: Repeating the mistakes of the Great Depression–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Paul Craig Roberts–How The Economy Was Lost–The War Of The Worlds–Videos

Paul Craig Roberts–Peak Jobs–Videos

Llewellyn H. Rockwell, Jr–How Empires Bamboozle the Bourgeoisie–Videos

Murray Rothbard–Videos

Murray Rothbard–A History of Money and Banking in The United States–Videos

Murray Rothbard–The American Economy and the End of Laissez-Faire: 1870 to World War II–Videos

Murray Rothbard–The Case Against The Fed–Videos

Murray N. Rothbard–Introduction to Economics: A Private Seminar–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Econ Talk With Thomas Sowell–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Calamity of Anti-Capitalism: A Brief American History–Video

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

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News Journal: Number 31, November 3, 2010: Tea Party Tidal Wave Falls and Rises–Videos

Posted on November 3, 2010. Filed under: Books, Issues, Law, News, Newspapers, Politics, Print Media, Radio, Society, Speech, Web | Tags: , , , , , , , , |

The tea party movement supported many candidates for public office in the 2010 elections.

Some lost and some won.

One candidate for public office had a record of failure if you believed the press and lost several races for public office in the past.

The person lost his job.

The person failed in business.

The person lost a state representative race.

The person had a nervous breakdown.

The person lost a state house speaker race.

The person lost a U.S. Senate race.

The person lost the nomination to be U.S. Vice President.

The person lost again a U.S. Senate race.

The person finally ran for President of the United States.

The person won.

Abraham Lincoln, one of America’s most respected Presidents was the first Republican President of the United States.

 One tea party supported candidate who lost for a second time a U.S. Senate race was Christine O’Donnell of Delaware.

Tea Party Favorite Christine O’Donnell

O’Donnell’s Internal Opposition

Delaware is a very liberal state where union endorsements and support play a big role in determining who wins a state-wide election.

Delaware’s Senator for 36 years had been Joe Biden, the current Vice-President of the United States.

Christine O’Donnell lost the U.S. Senate race in 2008 against Senator Biden who was running for both Senator and Vice-President of the United States.

Christine O’Donnell lost again the U.S. Senate race in 2010.

Character and integrity matter and ideas have consequences.

A person with character and integrity and the right ideas does not always win a political race.

Christine O’Donnell has character and integrity and the right ideas.

Like Abraham Lincoln, I do not believe the American people have heard the last from Christine O’Donnell.

Many tea party movement supported candidates did win the privilege of governing their state and to represent the citizens of their state in Congress and the Senate.

Four standout.

Vicky Hartzler: A Friend to Small Business in Congress

Rand Paul: ‘It’s a Tea Party Tidal Wave’

REPLAY: Marco Rubio acceptance speech

NIKKI HALEY (R-SC)

NIKKI HALEY (R-SC) on HANNITY GOP Gubernatorial Candidate

Vicky Hartler was elected to represent Missouri’s 4th District in the United States House of Representatives.

Rand Paul was elected to represent Kentucky as Senator in the United States Senate.

Marco Rubio was elected to represent Florida as Senator in the United States Senate.

Nikki Halley was elected to govern South Carolina as Governor.

All four favor limited Constitutional government, balanced budgets, lower taxes, less regulation, capitalism and a free market place.

The Founding Fathers were men of character and integrity and knew that ideas have consequences.

The Founding Fathers–Washington, Adams, Jefferson, Madison, Franklin and others– gave the American people the benefit of their wisdom contained in The Declaration of Independence and the United States Constitution.

The Founding Fathers gift to the American people was a representative republic with separation of powers and a system of checks and balances.

On Tuesday the American people elected a few of their fellow citizens to represent them in Congress and the Senate and govern their states.

The tea party movement goes to Washington and will have its own caucus in the House and Senate.

Rand Paul on Tea Party’s Future

Only time will tell whether the American people choose wisely.

Background Articles and Videos

Tea party candidates win in Fla., Ky.; lose Del.

“…Two tea party champions won high-profile Senate elections Tuesday, spearheading a likely cadre of libertarian-leaning Republicans who will press party leaders to be more adamant about lower taxes, less spending and smaller government.

Rand Paul of Kentucky and Marco Rubio of Florida rocked the GOP establishment last spring by routing leadership favorites in party primaries. Then they beat back Democrats’ efforts to paint them as too extreme, winning comfortably on Tuesday. However, another well-publicized tea party darling, Christine O’Donnell of Delaware, lost to Democrat Chris Coons. She also won a stunning GOP primary victory, beating longtime Rep. Mike Castle, but she failed to extend her popularity to the broader November electorate. …”

http://news.yahoo.com/s/ap/20101103/ap_on_el_se/us_senate_14

“…List of Lincoln’s failures

A common list of the failures of Abraham Lincoln (along with a few successes) is:

  • 1831 – Lost his job
  • 1832 – Defeated in run for Illinois State Legislature
  • 1833 – Failed in business
  • 1834 – Elected to Illinois State Legislature (success)
  • 1835 – Sweetheart died
  • 1836 – Had nervous breakdown
  • 1838 – Defeated in run for Illinois House Speaker
  • 1843 – Defeated in run for nomination for U.S. Congress
  • 1846 – Elected to Congress (success)
  • 1848 – Lost re-nomination
  • 1849 – Rejected for land officer position
  • 1854 – Defeated in run for U.S. Senate
  • 1856 – Defeated in run for nomination for Vice President
  • 1858 – Again defeated in run for U.S. Senate
  • 1860 – Elected President (success)

That looks like a pretty glum résumé, making you wonder how he ever made it to the top. But when you really think of it, to run for office or high positions so many times, you have to have something on the ball and have more successes than meet the eye. …”

http://www.school-for-champions.com/history/lincoln_failures.htm

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News Journal: Number 30, November 2, 2010: Dump Democrats–Vote–Remember Tuesday Is Soylent Green Day–Trust But Verify–Videos

Posted on November 2, 2010. Filed under: Audio, Communications, Digital Communication, Issues, Law, Mass Media, Movies, News, Newspapers, Politics, Print Media, Radio, Television, Web | Tags: , , , , , , , |

SOYLENT GREEN music – Fred Myrow (HQ + ending)

Trust but verify

I still stand by my wild ass guess (WAG) that the Republicans will win 77 seats in the House of Representatives for a total of 255 seats and 10 seats in the Senate for a total of 51 seats giving the Republican Party majority control of both the House and Senate.

There will also be 35 state Republican  governors.

The Democratic Party led by President Obama have lost the independents, older voters, white voters, the unemployed and increasingly the young.

Since the core progressive/liberal base of the Democratic Party is between 20% and 25% even in the best of turnout election years, they simply cannot win in districts that have a high percentage of Republican and Independent voters.

The conservative and libertarian movement is more than energized–they want to throw the bums out of office.

The major issues were jobs, spending, taxes, deficits, debt, bailouts, illegal immigration and Obama care.

On all these issues the Democratic Party is simply on the minority side of the issue and their economic policies of a stimulus package, green jobs, and Obama care have been an abject failure in creating jobs and reducing spending and deficits.

The tea party patriots have become a political force to be reckoned with by the political establishments of the Democratic and Republican parties.

The real test for the Republican Party will be in the next two to four years.

At a bare minimum the Republican Party must cut back spending and balance the budget with no tax or debt increases.

If the Republican Party does not deliver on this, more and more tea party patriots will look to forming a new political party instead of taking over the Republican Party.

I am simply not optimistic that the current Republican Party establishment is up to the job.

The Republican establishment lacks both vision and courage to do what needs to be done.

What the Republican Party should be doing is closing down entire Federal Departments and passing the FairTax.

Very few Republicans and Republican talk radio and television show hosts mention either.

Instead it is business as usually with the same talking points that we need to cut spending by x% and tax rates by y%.

This approach has failed time and time again for the simple reason that it is quickly reversed by the progressives in both the Democratic and Republican parties when they win majorities in the House and Senate.

Only by passing the FairTax and eliminating ten Federal Departments will the cancer of out-of-control government intervention be permanently stopped.

The time for a new political party that replaces either the Republican or Democratic Party is fast approaching.

Tea parties or rallies are great but results count and that requires MOMMA–Money, Organization, Message, Momentum and Ambition.

MOMMA is what is required to win elections.

A new political party that favors limited constitutional government is required–American Citizens Alliance Party–ACAP on spending, deficits, debt, regulations, and taxes.

The American people are also waiting for its twenty-first century George Washington and Thomas Paine to emerge from the tea party patriots.

The election of 2016 is the one to watch out for.

By then I fully expect that both the Democratic and Republican parties will be so widely perceived as failures in delivering results that the American people will finally support candidates that want limited constitutional government and belong to another political party.

NRA Tribute to Charlton Heston

 

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News Journal: Number 29, October 26, 2010: American People’s No Confidence Voting Wave Wipes Out Democrats–It’s The Economy Stupid!–Videos

Posted on October 26, 2010. Filed under: Communications, Ethics, Issues, Law, Magazines, News, Newspapers, Politics, Print Media, Radio, Regulations, Society, Television, Web | Tags: , , , |

Republican Governors 35

Republican Senators 51

Republican Representatives 255

 

The Republicans will pickup a net total of 77 seats in House of Representatives for a total of 255.

The Republicans will also pickup a net total of 10 seats in the Senate for a total of 51 seats.

The American people want to stop the massive Government spending, deficits and bailouts and rising National debt of the Obama Administration.

Stop Spending Our Future – The Crisis

Issue number 1 is jobs and the economy with nearly thirty million Americans looking for a full-time job and continuing high rates of unemployment.

www.shadowstats.com

Issue number 2 is massive Federal Government spending, deficits, bailouts and a rising National debt.

The National Debt Road Trip

The Trillion $$$ Dollar U.S. Economic Deficit Caused By Our Government

U.S. Debt Clock

http://www.usdebtclock.org/

Issue number 3 is Obamacare– the American people want it repealed as soon as possible and no money bills or appropriations to fund Obamacare.

Fight Obamacare Texas

Issue number 4 is illegal immigration–the American people want it stopped by immigration law enforcement and a completed border fence that is heavily patrolled.

What Are True Costs And Benefits Of Illegal Immigration?

Stop Illegal Immigration

 

The American people expect the Republican Party to balance the Federal Budget by significantly reducing Government spending and permanently closing Federal Departments including Agriculture, Commerce, Education, Energy, Health and Human Services, Housing and Urban Development, Interior, Labor, and Transportation.

The number of Federal employees should be cut from over 2,000,000 to less than 1,000,000.

3 Reasons Public Sector Employees are Killing the Economy

 

The American people expect the Republican Party to make the Bush tax cuts permanent for all taxpayers and pass the FairTax–it is time!

The FairTax: It’s Time

Should the Republican Party fail to balance the budget and cut the size and scope of the Federal Government by permanently shutting down the above departments, these Republicans will be wiped out by the 2012 wave of tea party patriots.

Background Articles and Videos

Editor in Chief Insights: Obama’s Job Approval Trajectory

 

President Obama Heads into Midterms at Lowest Approval Rating of Presidency

Two-thirds of Americans believe country going off on the wrong track

“…Currently, two-thirds of Americans (67%) have a negative opinion of the job President Obama is doing while just over one-third (37%) have a positive opinion. This continues the president’s downward trend and he is now at the lowest job approval rating of his presidency.

These are some of the results of The Harris Poll of 3,084 adults surveyed online between October 11 and 18, 2010 by Harris Interactive.

It’s perhaps not surprising that nine in ten Republicans (90%) and Conservatives (89%) give the job the president is doing negative ratings. What may be surprising is that one-third of Democrats (34%) and Liberals (33%) also give him negative ratings, as do seven in ten Independents (70%) and six in ten Moderates (60%).

Americans who give the president the highest positive ratings are those with a post-graduate education (48%), a college education (47%), and those living in the West (42%). On the other end of the spectrum, almost three-quarters of those with a high school education or less (72%) and two-thirds of Midwesterners (66%) and Southerners (66%) give the President negative marks on his overall job.

While the president is at a low point, there is a political body with ratings much lower than his. Just one in ten Americans (11%) give Congress positive ratings on the job they are doing while nine in ten (89%) give them negative marks. While Congress may be under Democratic control, even four in five Democrats (81%) give them negative ratings.

Part of this negativity may have to do with the way Americans believe the country as a whole is going. Just one-third of U.S. adults (34%) say the country is going in the right direction while two-thirds (66%) say it is going off on the wrong track. While not close to the low it was before the 2008 election (11% said things were going in the right direction), this is one of the lower points of this year. …”

http://www.harrisinteractive.com/Hi_assets/TopHitPageNews.html

Rasmussen Reports

Trust on Issues

Voters Trust Republicans More on Eight of 10 Key Issues

“…Voters now trust Democrats over Republicans in only two areas – government ethics and corruption by a 41% to 36% margin and education where Democrats have a slight 42% to 40% edge.

The economy continues to be the most important issue on voters’ minds this election, and 49% place their trust in Republicans to handle this issue. Thirty-nine percent (39%) trust Democrats more. These findings show little change from early June 2009.

On the issue of health care, which voters place second on the list of important issues, Republicans hold a modest 47% to 40% advantage. Democrats were trusted more on this issue until the debate over a proposed national health care bill began to heat up in early September of last year.

Most voters continue to favor repeal of the national health care law, but the number of voters who expect the law to increase the deficit has fallen to the lowest point since its passage by Congress in March.

(Want a free daily e-mail update? If it’s in the news, it’s in our polls). Rasmussen Reports updates are also available on Twitter or Facebook.

Two surveys of 1,000 Likely U.S. Voters each were conducted October 12-13 and October 14-15, 2010 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.

Government ethics and corruption rate number three in terms of overall importance, but voters have been narrowly divided for the past several months over which party to trust more on this issue. Democrats have held small leads since February.

As for education, both parties have held very modest leads on the issue at different times for months now.

Forty-eight percent (48%) of voters nationwide place their trust in the hands of Republicans when it comes to the issue of taxes. Thirty-nine percent (39%) would rather the Democrats handle this issue. The GOP has held a solid lead over Democrats on this issue since early July 2009.

But most voters believe that Democrats in Congress want to raise taxes and spending, while Republicans in Congress want to cut taxes and spending.

When it comes to immigration, 45% trust Republicans, while 33% trust the Democrats more. The gap between the two parties has widened since the beginning of January as the debate over the immigration law in Arizona intensified. At the beginning of the year, voters were essentially evenly divided on which party to trust.

Voters feel more strongly than ever that the federal government is encouraging illegal immigration and that states like Arizona have the answer to the problem, but the Obama administration is challenging the Arizona law in federal court.

Republicans continue to be trusted more on national security issues and the war on terror, with 49% of voters trusting the GOP versus 39% who trust the Democrats more. When it comes the war in Afghanistan, Republicans hold a six-point advantage, 42% to 36%.

Similarly, voters trust Republicans more than Democrats to handle the war in Iraq, 43% to 37%. …”

http://www.rasmussenreports.com/public_content/politics/mood_of_america/trust_on_issues

Historical Federal Workforce Tables

Executive Branch Civilian Employment Since 1940

(end-of-fiscal-year count, excluding Postal Service, in thousands)

Fiscal Year Total Executive Branch Department of Defense Civilian Agencies
Total Agriculture HHS, Education, Social Sec. 1 Homeland Security Interior Justice Transportation Treasury Veterans Other
1940 699 256 443 98 9 18 46 11 45 40 176
1941 1,081 556 525 91 10 20 50 15 52 43 244
1942 1,934 1,291 643 95 11 20 49 22 55 44 348
1943 2,935 2,200 735 109 11 21 43 23 69 53 406
1944 2,930 2,246 683 78 11 21 42 21 81 51 378
1945 3,370 2,635 736 82 11 20 45 19 84 65 409
1946 2,212 1,416 795 97 12 20 51 17 95 169 335
1947 1,637 859 777 88 12 20 53 17 82 217 288
1948 1,569 871 698 82 13 18 57 20 79 196 233
1949 1,573 880 694 87 12 19 59 19 77 195 226
1950 1,439 753 686 84 13 20 66 20 76 188 219
1951 1,974 1,235 738 81 16 21 65 25 79 183 269
1952 2,066 1,337 729 79 15 22 61 25 75 175 278
1953 2,026 1,332 694 78 35 22 59 23 71 178 226
1954 1,875 1,209 666 76 35 21 56 24 67 179 207
1955 1,860 1,187 673 86 40 21 54 24 65 178 206
1956 1,864 1,180 684 89 46 20 53 24 64 177 210
1957 1,869 1,161 708 96 53 20 55 24 65 174 222
1958 1,817 1,097 720 101 55 20 56 24 64 172 227
1959 1,805 1,078 727 97 59 20 55 23 63 171 238
1960 1,808 1,047 761 99 62 21 56 24 62 172 265
1961 1,825 1,042 782 103 70 20 59 25 67 175 265
1962 1,896 1,070 827 111 77 20 63 25 69 177 284
1963 1,911 1,050 861 116 81 21 73 25 73 173 300
1964 1,884 1,030 855 108 83 21 70 26 72 172 302
1965 1,901 1,034 867 113 87 21 71 27 74 167 307
1966 2,051 1,138 913 119 100 21 75 27 76 170 324
1967 2,251 1,303 949 122 106 24 77 27 52 79 173 289
1968 2,289 1,317 972 123 117 23 78 29 56 79 176 292
1969 2,301 1,342 960 125 113 21 75 30 58 79 175 283
1970 2,203 1,219 983 118 112 23 75 33 62 84 169 308
1971 2,144 1,154 989 120 115 25 72 38 66 86 180 288
1972 2,117 1,108 1,009 118 114 29 72 40 65 90 184 295
1973 2,083 1,053 1,030 113 128 29 74 43 66 90 198 289
1974 2,140 1,070 1,070 116 142 30 77 46 68 97 202 292
1975 2,149 1,042 1,107 121 147 31 80 47 69 101 213 297
1976 2,157 1,010 1,147 128 155 32 82 48 71 105 222 303
1977 2,182 1,009 1,173 132 159 32 87 48 70 107 224 313
1978 2,224 1,000 1,225 138 161 37 84 49 70 110 229 348
1979 2,161 960 1,201 128 161 40 78 48 67 102 226 352
1980 2,161 960 1,201 129 163 40 77 48 66 102 228 346
1981 2,143 984 1,159 129 162 38 76 47 54 100 232 321
1982 2,110 990 1,121 121 153 38 79 48 57 98 236 291
1983 2,157 1,026 1,131 124 152 39 80 50 57 104 239 286
1984 2,171 1,044 1,127 119 150 39 79 53 57 109 240 283
1985 2,252 1,107 1,145 122 147 40 80 55 56 110 247 286
1986 2,175 1,068 1,108 113 138 39 74 56 56 114 240 277
1987 2,232 1,090 1,142 117 132 44 74 60 57 125 250 284
1988 2,222 1,050 1,172 121 128 48 78 63 58 135 245 297
1989 2,238 1,075 1,162 122 127 49 78 66 60 126 246 289
1990 2,250 1,034 1,216 123 129 49 78 71 61 132 248 326
1991 2,243 1,013 1,230 126 135 50 82 77 64 139 256 302
1992 2,225 952 1,274 128 136 56 85 82 64 133 260 329
1993 2,157 891 1,266 124 135 56 85 82 63 127 268 326
1994 2,085 850 1,235 120 133 55 81 83 59 128 262 315
1995 2,012 802 1,210 113 132 56 76 87 58 128 264 297
1996 1,934 768 1,166 110 130 62 71 88 58 118 251 279
1997 1,872 723 1,149 107 131 64 71 93 59 112 243 270
1998 1,856 693 1,163 106 130 68 72 95 59 112 240 281
1999 1,820 666 1,155 105 130 69 73 97 58 113 219 290
2000 1,778 651 1,127 104 126 70 74 98 58 113 220 265
2001 1,792 647 1,145 109 129 73 76 99 59 117 226 258
2002 1,818 645 1,173 98 130 76 77 96 96 118 223 258
2003 1,867 636 1,231 100 131 153 72 102 58 132 226 257
2004 1,882 644 1,238 111 130 153 77 104 57 111 236 257
2005 1,872 649 1,224 108 131 147 76 105 56 108 235 258
2006 1,880 653 1,227 105 129 154 72 107 54 107 239 260
2007 1,888 651 1,237 103 129 159 72 107 54 104 254 254
2008 1,960 670 1,289 104 132 172 76 109 55 106 274 261
2009 2,094 737 1,357 104 139 180 75 113 57 109 297 283

http://www.opm.gov/feddata/HistoricalTables/ExecutiveBranchSince1940.asp

Related Posts On Pronk Palisades

Heritage Foundation 2010 Budget Charts–Federal Spending

Heritage Foundation 2010 Budget Charts–Federal Revenue

Heritage Foundation 2010 Budget Charts–Federal Debt and Deficits

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News Journal: Number 28, October 16, 2010: The Obama Depression Deepens–Federal Reserve Executes–QE II Plan–“Operation Pawnshop”–$2,500 Billion In Quantitative Easing–Money Printing–Will It Be Enough?

Posted on October 16, 2010. Filed under: Communications, Globalization, International Trade, Issues, Law, Magazines, Mass Media, News, Newspapers, Politics, Print Media, Radio, Web | Tags: , , , , , , , , |

Non-conventional vs. Traditional Federal Reserve System Building

“Credit expansion is the governments foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.”

“The final outcome of the credit expansion is general impoverishment.”

~Ludwig von Mises

Peter Schiff – It’s Scary How Clueless Bernanke Is

The Gold Dollar | Llewellyn H. Rockwell, Jr.

Fed’s Next Move: What Will Boost the Economy?

Helicopter Ben Bernanke 10/15/10 Part 1

Helicopter Ben Bernanke 10/15/10 Part 2

Swonk Says Bernanke Laid Out Rationale for Fed QE: Video

Currencies, Phillips curve, inflation target, Ramsey, SchiffRadio.com

Bernanke Says Fed Stimulus Move Coming, Amount Unknown

Tyson Says Quantitative Easing ‘Only Policy Option Left’

Jim Grant on Bloomberg 10/8/10: Quantitative Easing Is Just Money Printing

Mandelbrot (Chaos Theory) Taleb (Black Swan) on markets

End the Fed | Ron Paul

The primary goal of the Federal Reserve System is price stability or the avoidance of inflation for the U.S. economy.

However, unlike other central banks, the Federal Reserve also was given several other goals by Congress:

“The goals of monetary policy are spelled out in the Federal Reserve Act, which specifies that the Board of Governors and the Federal Open Market Committee should seek “to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.” …”

http://www.federalreserve.gov/pf/pdf/pf_2.pdf

Since the Fed already has a zero interest rate policy or ZIRP with the Federal Funds rate target range of between 0.0% – .25% and a low inflation rate for the time being under 2%, the Federal Reserve now turns it monetary policy tools on the persistent high unemployment rates, now at 9.6% and headed once again to 10% or more.

Series Id:           LNS14000000 Seasonally Adjusted Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0
2010 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6 9.6

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

The Chairman of the Federal Reserve, Ben Bernanke, communicated in an October 15, 2010 speech in Boston what the Federal Open Market Committee (FOMC) unconventional monetary policy was targeting– maximum employment–by printing more money and purchasing Treasuries and other bonds:

“…In short, there are clearly many challenges in communicating and conducting monetary policy in a low-inflation environment, including the uncertainties associated with the use of nonconventional policy tools. Despite these challenges, the Federal Reserve remains committed to pursuing policies that promote our dual objectives of maximum employment and price stability. In particular, the FOMC is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation over time to levels consistent with our mandate. …”

Translation, the Fed will be printing more money starting in November to expand the money and credit supply by purchasing Treasury securities including bills, notes and bonds in the market as well other assets such as bonds with the objective of lowering the unemployment rate.

http://nowandfutures.com/key_stats.html

The Fed will be attempting to “inflate” the economy out of the current “jobless recovery” into another economic boom.

Call it quantitative easing, credit easing or “nonconventional” monetary policy, I call it overdosing on interventionism.

Quantitative Easing–Videos

What is the size, scope and duration of the “quantitative easing” or overdosing on interventionism ?

How big will the Fed’s weekly habit be?

My guess it will start “small” with $2 to $5 billion per week and gradually increase to about $15 billion per week?

How long will the Fed persist in this habit before going cold turkey?

At least twelve to forty-eight months or until the unemployment rate is below 6% and core inflation is over 2%.

This will require another massive expansion of the Federal Reserve’s balance sheet.

How much will it take?

My guess is a 1% reduction in the U-3 official unemployment rate would take a minimum of $600 billion per year ($200,000 money or credit expansion times 3,000,000 new jobs in one year)

A 4% reduction in the unemployment rate from 10% to 5% or the creation of about 12,000,000 new jobs would require a minimum of $2,500 billion dollars over four years.

The U.S. official unemployment rate as measured by U-3 is again headed towards 10% with over 15,000,000 Americans unemployed.

The private sector needs to create between 250,000 and 300,000 jobs per month to reduce the official unemployment rate by just .1%.

Currently the private sector is creating less than 100,000 jobs per month.

The United States needs between 100,000 to 150,000 jobs to absorb new entrants into the labor market due to the population growth. There are currently over 1.1 million unemployed new entrants that have not found their first job.

Another 150,000 to 200,000 jobs is are needed to reduce the unemployment by .1%.

Unfortunately, the persistent unemployment problem is even worse.

The U-6 total unemployment rate increased from 16.7% in August to 17.1% in October 2010.

With a total civilian labor force of about 155 million, a 17.1% unemployment rate means that over 26,500,000 Americans are looking for full-time jobs.

This represents over twice the number of unemployed Americans, about 13 million, during the worse month of the Great Depression, March 1933.

Assume it takes a minimum of $200,000 increase in the money and credit supply to create one new job.

Assume it takes 250,000 new jobs per month to reduce the unemployment rate by .1% or 3,000,000 jobs per year to reduce the unemployment rate by 1.2%.

Then the Federal Reserve would need to expand the money and credit supply by about $600 billion per year.

If the objective is to reduce the unemployment rate official unemployment rate U-3 from about 10% to 5% then the Federal Reserve would need to expand the money and credit supply by about $2,500 billion over a forty-eight month period.

I fully expect both the U-3 and U-6 unemployment rates to rise by at least .1 to .2% per month for next three to six months.

This would bring the official unemployment rate or U-3 over 10% during the first quarter of 2011 and the total unemployment rate or U-6 over 18% by the start of the second quarter of 2011.

This would represent over 15 million Americans unemployed and over 28 million seeking full-time unemployment.

This in turn will mean the U.S. economy is entering a “new” recession or a “double dip recession” with declining and most likely negative growth rates in the second and third quarter of 2011 and an increased probability of deflation or a declining general price level for goods and services.

Therefore the case for an expansionary monetary policy is still strong and increasing.

With the Federal Funds rate essentially zero, the Federal Reserve will be purchasing assets such as Treasury securities and agency mortgage-backed securities starting in November and continuing for a least six months until the U.S. unemployment rates are down by at least 1% to 2% or more and growth in production or the gross national product is at least above 3% to 4%.

Assuming the Federal Reserve purchases $12 billion in assets or securities each week, the total amount of the quantitative easing will be about $2,500 billion over the next forty-eight months to bring the official unemployment rate U-3 to about 5%.

The Federal Reserve cannot count upon the central bank of Communist China, the People’s Bank of China, to appreciate the Yuan by more than 5% to 10% per year relative to the U.S. dollar to encourage U.S. exports and reduce Chinese imports to the United States.

The real problem is Federal government spending that should be drastically cut until a balanced or even surplus budget is the result.

The Bush tax rate cuts in 2001 and 2003 need to be made permanent as well.

Until such fiscal economic policies are actually implemented, the only monetary policy “bullets” that the Federal Reserve has left is quantitative easing or money printing to purchase assets by expanding their balance sheet.

The Federal Government has for the last two years run deficits exceeding 1,000 billion each year and totaling over $2,500 billion not counting interest and this is likely to continue for at least one or two years until the U.S. economy fully recovers and the unemployment rates are well below 7%.

These budgetary deficits need to be financed by the Treasury Department issuing Treasury bills, notes and bonds.

The Federal Reserve will monetize some of these Treasury debts as part of its quantitative easing operations to the extent other buyers of Treasuries cannot be found.

What is the size or quantity of the quantitative easing?

I do not expect this to be announced, but at least $2,500 billion may be needed in the next forty-eight months to avoid another recession, significantly reduce unemployment to under 6%, and increase the growth of the economy above 4%.

Will such a “nonconventional” monetary policy work?

Only if the Congress and the President drastically cut the Federal Budget so it balances, do not increase taxes, and repeal Obama care.

In other words,this “nonconventional” monetary policy strategy of asset purchases or quantitative easing is not very likely to work any time soon.

The problem with government intervention into the economy is it always requires even more government intervention to correct past mistakes.

Both fiscal and monetary policy are generating massive uncertainty and a lack of confidence by consumers and businesses results in the deferral of consumption and investment expenditures and the hiring of new employees.

Bernanke understands this for he wrote in his Ph.D. dissertation at M.I.T.:

“…increase uncertainty provides an incentive to defer investments in order to wait for new information.”

Massive increases in the size and scope of the Federal government has resulted in huge budgetary deficits and proposed tax increase during a “jobless recovery”.

These deficits must be financed and the Federal Reserve will make sure that Treasury debt in the form of bills, notes and bonds will be purchased by printing more money as needed.

The Federal Reserve “nonconventional” monetary policy of printing more money is essentially government intervention into the economy to accommodate the U.S. Government’s Department of the Treasury need in financing massive government deficits

The Federal Open Market Committee will purchase Treasuries, mostly short-term Treasury bills but some notes and bonds in exchange for Federal Reserve Notes or money.

While the Fed’s cover story may be that this is needed to reduce unemployment, the real objective is financing massive Federal government spending and deficits. This is similar to what was done from 1942 to 1951 where Treasury long-term government bond yields were fixed at very low levels to finance World War II.

In fact, the Federal Reserve will be debasing the U.S. dollar by reducing the purchasing power of the dollar.

End the Fed | Ron Paul

This is a hidden tax paid by all the American people.

The cost of exports will rise as the U.S. dollar depreciates relative to other foreign currencies.

The price of petroleum will significantly rise and Americans will be paying over $3 a gallon in 2011 and over $4 a gallon in 2012.

The increases in petroleum and gasoline prices will in turn impact food prices.

The Federal Reserve uses a core personal consumption expenditure (PCE) price index approach in measuring and setting inflation targets, which excludes food and energy. The core personal consumption is a less volatile inflation or price measure than a change in total personal consumption expenditures which includes energy and food.

However, the American people need to eat and use gasoline to power their cars and heating oil to warm their homes.

The American people do not tolerate fools, even educated fools of the ruling class, for very long when they are losing their jobs, homes, health care and retirement plans and their children and grandchildren cannot find jobs or complete their college education.

The Second American Revolution has started.

On Tuesday November 2, 2010, election day, a shot will be heard around the world that even the world’s central bankers will be able to hear, if not fully comprehend.

During which the Federal Open Market Committee or FOMC will meet to decide when and how much quantitative easing or credit easing is needed to create jobs, avoid another recession and finance the U.S. government massive deficits.

The U.S. economy is in a liquidity trap where conventional monetary policy is ineffective and “nonconventional” monetary policy cannot work effectively until the appropriate fiscal policies are a reality and working.

The U.S. economy is slowly drowning in a flood of government intervention that has simply failed in generating jobs and high rates of economic growth and wealth creation.

The American people are paying the price for our ruling class’s continuing failures.

After quantitative easing or “operation pawn shop” fails and the value of the U.S. dollars is further debased, a period of inflation will follow and the Obama Depression will become an inflationary depression–a black swan.

“To be told that the Fed did what it could isn’t much comfort to a family who loses its house to foreclosure, a businessman forced into bankruptcy, a sixty-five-year-old whose retirement fund is devastated, a would-be borrower turned away by a beleaguered bank, a new college grad who can’t find a job, any job. For those victims and all the others, a final verdict on the Fed’s response to the Great Panic must await the health of the U.S. economy in 2010 and 2011 and beyond.”

~David Wessle, In Fed We Trust, Ben Bernanke’s War On the Great Panic, page 266.

“It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process.”

“Economics does not say that isolated government interference with the prices of only one commodity or a few commodities is unfair, bad, or unfeasible. It says that such interference produces results contrary to its purpose, that it makes conditions worse, not better, from the point of view of the government and those backing its interference.”

~Ludwig von Mises

Roubini: U.S. Running Out of Options to Stimulate Economy

Roubini On Double Dip

Nassim Nicholas Taleb – What is a “Black Swan?”

Background Articles and Videos

Peter Schiff “We Should Save ‘Person Of The Year’ For People Who Do Good!

Ron Paul: Allow The Free Market, Not The Fed, To Set Interest Rates

Maynard Keynes Inventor of Quantitative Easing

The Financial Crisis and the Death of Macroeconomics | Joseph T. Salerno

Government’s Response to the Crisis: A Fantastic Success, for Government | Robert Higgs

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

Our Wise Overlords Are Just Here to Serve Us | Thomas E. Woods. Jr.

Nassim Nicholas Taleb Angry

16. The Evolution and Perfection of Monetary Policy

Crisis and Capitalism

Understanding the Financial Crisis

The Psychology of the Financial Crisis

Money, Banking and the Federal Reserve

How to Abolish the Federal Reserve

Speech

Chairman Ben S. Bernanke

At the Revisiting Monetary Policy in a Low-Inflation Environment Conference, Federal Reserve Bank of Boston, Boston, Massachusetts

October 15, 2010

Monetary Policy Objectives and Tools in a Low-Inflation Environment”…

“…However, possible costs must be weighed against the potential benefits of nonconventional policies. One disadvantage of asset purchases relative to conventional monetary policy is that we have much less experience in judging the economic effects of this policy instrument, which makes it challenging to determine the appropriate quantity and pace of purchases and to communicate this policy response to the public. These factors have dictated that the FOMC proceed with some caution in deciding whether to engage in further purchases of longer-term securities.

Another concern associated with additional securities purchases is that substantial further expansion of the balance sheet could reduce public confidence in the Fed’s ability to execute a smooth exit from its accommodative policies at the appropriate time. Even if unjustified, such a reduction in confidence might lead to an undesired increase in inflation expectations, to a level above the Committee’s inflation objective. To address such concerns and to ensure that it can withdraw monetary accommodation smoothly at the appropriate time, the Federal Reserve has developed an array of new tools.7 With these tools in hand, I am confident that the FOMC will be able to tighten monetary conditions when warranted, even if the balance sheet remains considerably larger than normal at that time.

Central bank communication provides additional means of increasing the degree of policy accommodation when short-term nominal interest rates are near zero. For example, FOMC postmeeting statements have included forward policy guidance since December 2008, and the most recent statements have reflected the FOMC’s anticipation that exceptionally low levels of the federal funds rate are likely to be warranted “for an extended period,” contingent on economic conditions. A step the Committee could consider, if conditions called for it, would be to modify the language of the statement in some way that indicates that the Committee expects to keep the target for the federal funds rate low for longer than markets expect. Such a change would presumably lower longer-term rates by an amount related to the revision in policy expectations. A potential drawback of using the FOMC’s statement in this way is that, at least without a more comprehensive framework in place, it may be difficult to convey the Committee’s policy intentions with sufficient precision and conditionality. The Committee will continue to actively review its communications strategy with the goal of providing as much clarity as possible about its outlook, policy objectives, and policy strategies.

Conclusion
In short, there are clearly many challenges in communicating and conducting monetary policy in a low-inflation environment, including the uncertainties associated with the use of nonconventional policy tools. Despite these challenges, the Federal Reserve remains committed to pursuing policies that promote our dual objectives of maximum employment and price stability. In particular, the FOMC is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation over time to levels consistent with our mandate. Of course, in considering possible further actions, the FOMC will take account of the potential costs and risks of nonconventional policies, and, as always, the Committee’s actions are contingent on incoming information about the economic outlook and financial conditions. ..”

Bernanke sees case for more Federal Reserve easing

“… Federal Reserve Chairman Ben Bernanke on Friday offered his most explicit signal yet that the U.S. central bank was set to ease monetary policy further, but provided no details on how aggressively it might act.

Bernanke warned a prolonged period of high unemployment could choke off the U.S. recovery and that the low level of inflation presented an uncomfortable risk of deflation, a dangerous downward slide in prices.

“There would appear — all else being equal — to be a case for further action,” Bernanke said at a conference sponsored by the Boston Federal Reserve Bank.

With overnight interest rates already close to zero, many economists expect the Fed to launch a fresh round of bond purchases, perhaps on the order of $500 billion, to push borrowing costs lower at its next policy meeting on November 2-3.

Prices for longer-dated U.S. government debt fell after Bernanke’s remarks as investors bet the Fed would be successful in generating more inflation. Stocks were mixed while the dollar briefly hit an eight-month low against the euro.

Bernanke said the central bank could bolster its economy and inflation-lifting efforts by indicating a willingness to hold interest rates low for longer than currently expected.

The Fed pushed overnight rates to zero in December 2008 and then bought $1.7 trillion in U.S. government and mortgage-linked bonds to offer more support for the economy.

Officials have said further asset buying, or quantitative easing, would be the course they would most likely pursue to spur a stronger recovery.

Bernanke indicated Fed policymakers were still weighing how aggressive they should be, leaving markets to guess as to the details of any operation. …”

http://finance.yahoo.com/news/Bernanke-says-sees-case-for-rb-4235164349.html?x=0&.v=3

Personal consumption expenditures price index

“…he PCE price index (PCEPI) (or PCE deflator, PCE price deflator, Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) (by the BEA), Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) (by the FOMC )) is a United States-wide indicator of the average increase in prices for all domestic personal consumption. It is indexed to a base of 100 in 2005. Using a variety of data including U.S. Consumer Price Index and Producer Price Index prices, it is derived from the largest component of the Gross Domestic Product in the BEA’s National Income and Product Accounts, personal consumption expenditures.

The less volatile measure of the PCE price index is the core PCE price index which excludes the more volatile and seasonal food and energy prices.

In comparison to the headline United States Consumer Price Index, which uses one set of expenditure weights for several years, this index uses a Fisher Price Index, which uses expenditure data from both the current period and the preceding period. Also, the PCEPI uses a chained index which compares one quarter’s price to the last quarter’s instead of choosing a fixed base. This price index method assumes that the consumer has made allowances for changes in relative prices. That is to say, they have substituted from goods whose prices are rising to goods whose prices are stable or falling.

The PCE rises about one-third percent less than the CPI, a trend that dates back to 1992. This may be due to the failure of CPI to take into account substitution. Alternatively, an unpublished report on this difference by the BLS suggests that most of it is from different ways of calculating hospital expenses and airfares.[1] …”

http://en.wikipedia.org/wiki/Personal_consumption_expenditures_price_index

Black Swan Theory

“…The Black Swan Theory or “Theory of Black Swan Events” was developed by Nassim Nicholas Taleb to explain: 1) the disproportionate role of high-impact, hard to predict, and rare events that are beyond the realm of normal expectations in history, science, finance and technology, 2) the non-computability of the probability of the consequential rare events using scientific methods (owing to their very nature of small probabilities) and 3) the psychological biases that make people individually and collectively blind to uncertainty and unaware of the massive role of the rare event in historical affairs. Unlike the earlier philosophical “black swan problem”, the “Black Swan Theory” (capitalized) refers only to unexpected events of large magnitude and consequence and their dominant role in history. Such events, considered extreme outliers, collectively play vastly larger roles than regular occurrences.

Black Swan Events were characterized by Nassim Nicholas Taleb in his 2007 book (revised and completed in 2010), The Black Swan. Taleb regards almost all major scientific discoveries, historical events, and artistic accomplishments as “black swans” — undirected and unpredicted. He gives the rise of the Internet, the personal computer, World War I, and the September 11 attacks as examples of Black Swan Events.

The term black swan was a Latin expression — its oldest known reference comes from the poet Juvenal’s characterization of something being “rara avis in terris nigroque simillima cygno” (6.165).[1] In English, this Latin phrase means “a rare bird in the lands, and very like a black swan.” When the phrase was coined, the black swan was presumed not to exist. The importance of the simile lies in its analogy to the fragility of any system of thought. A set of conclusions is potentially undone once any of its fundamental postulates is disproven. In this case, the observation of a single black swan would be the undoing of the phrase’s underlying logic, as well as any reasoning that followed from that underlying logic.

Juvenal’s phrase was a common expression in 16th century London as a statement of impossibility. The London expression derives from the Old World presumption that all swans must be white because all historical records of swans reported that they had white feathers.[2] In that context, a black swan was impossible or at least nonexistent. After a Dutch expedition led by explorer Willem de Vlamingh on the Swan River in 1697, discovered black swans in Western Australia[3], the term metamorphosed to connote that a perceived impossibility might later be disproven. Taleb notes that in the 19th century John Stuart Mill used the black swan logical fallacy as a new term to identify falsification.

Specifically, Taleb asserts[4] in the New York Times:

What we call here a Black Swan (and capitalize it) is an event with the following three attributes.

First, it is an outlier, as it lies outside the realm of regular expectations, because nothing in the past can convincingly point to its possibility. Second, it carries an extreme impact. Third, in spite of its outlier status, human nature makes us concoct explanations for its occurrence after the fact, making it explainable and predictable.

I stop and summarize the triplet: rarity, extreme impact, and retrospective (though not prospective) predictability. A small number of Black Swans explains almost everything in our world, from the success of ideas and religions, to the dynamics of historical events, to elements of our own personal lives.

Coping with black swan events

The main idea in Taleb’s book is not to attempt to predict Black Swan Events, but to build robustness against negative ones that occur and being able to exploit positive ones. Taleb contends that banks and trading firms are very vulnerable to hazardous Black Swan Events and are exposed to losses beyond that predicted by their defective models.

Taleb states that a Black Swan Event depends on the observer—using a simple example, what may be a Black Swan surprise for a turkey is not a Black Swan surprise for its butcher—hence the objective should be to “avoid being the turkey” by identifying areas of vulnerability in order to “turn the Black Swans white”.

Identifying a black swan event

Based on the author’s criteria:

  1. The event is a surprise (to the observer).
  2. The event has a major impact.
  3. After the fact, the event is rationalized by hindsight, as if it had been expected.

Taleb’s ten principles for a black swan robust world

Taleb enumerates ten principles for building systems that are robust to Black Swan Events:[10]

  1. What is fragile should break early while it is still small. Nothing should ever become Too Big to Fail.
  2. No socialisation of losses and privatisation of gains.
  3. People who were driving a school bus blindfolded (and crashed it) should never be given a new bus.
  4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks.
  5. Counter-balance complexity with simplicity.
  6. Do not give children sticks of dynamite, even if they come with a warning.
  7. Only Ponzi schemes should depend on confidence. Governments should never need to “restore confidence”.
  8. Do not give an addict more drugs if he has withdrawal pains.
  9. Citizens should not depend on financial assets or fallible “expert” advice for their retirement.
  10. Make an omelette with the broken eggs.

In addition to these ten principles, Taleb also recommends employing both physical and functional redundancy in the design of systems. These two steps can be found in the principles of resilience architecting. (Reference: Jackson, S. Architecting Resilient Systems: John Wiley & Sons. Hoboken, NJ: 2010.)

http://en.wikipedia.org/wiki/Black_swan_theory

Federal Reserve System: Purposes and Functions

http://www.federalreserve.gov/pf/pdf/pf_complete.pdf

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News Journal: Number 25, October 9, 2010: Obama Depression: 20 Months Of Unemployment Over 8% For Official U-3 Rate and Over 15% For Total U-6 Rate–Over 26 Million Americans Looking For A Full Time Job and 41.8 Million On Food Stamps!–Followed By 36 More Months Of Over 8% Official Unemployment U-3 Rate and 15% Total Unemployment U-6 Rate!

Posted on October 9, 2010. Filed under: Audio, Communications, Digital Communication, Ethics, Globalization, Issues, Law, Politics, Print Media, Public Relations, Society, Web | Tags: , , , , , , , , , , , , , , |

“Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.”

“True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.”

~Ludwig von Mises

Economy Sheds 95,000 Jobs; 14.8 Million out of Work

RECORD 41.8 MILLION PEOPLE ON FOOD STAMPS 9-15-2010

Sept 2010 Employment Report

U.S. Recovering Jobs But Pace Has Slowed, Analyst Says

Goolsbee Sees Need to Get ‘Job Engine’ Growing Faster: Video

“Traders will look at the U6 unemployment rate…on Friday”

President Obama on September, 2010 Jobs Numbers

Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression

The U.S. jobless ” recovery” continues and is getting worse.

While the official unemployment rate of 9.6% as measured by U-3 did not go up in September, the real total unemployment rate went from 16.7% in August to 17.1% in September 2010.

The official unemployment level is currently at 14,767,000 unemployed Americans and exceeds the 13 million unemployed during the worse year of the Great Depression, 1933.

The total unemployment level calculated as 17.1% of the civilian labor force of about 154,158,000 is over 26 million, twice the number of unemployed during the worse year of the Great Depression, 1933.

The Obama Depression is not over or improving but is in fact getting worse.

The Keynesian economics recipe for economic disaster of more and more stimulus spending, larger and larger budgetary deficits, financed by layer upon layer of government debt has been a big failure.

A failure made even worse by the Federal Reserves’ quantitative easing monetary policy of monetization of the debt by “printing” more and more money in exchange for the Federal Government’s debt.

Neither the fiscal policy of stimulus spending nor the monetary policy of quantitative easing will create more jobs.

Obama”s economic policies only increase the belief among consumers and business owners that the Federal Government is completely out-of-control.

Only when President Obama’s economic policies are reversed and the current regime in Congress and the President are elected out of office will you finally see job creation and low full employment rates of 2%% to 3% This will take not months but at least five years.

Dixion Says Fed Quantitative Easing Won’t Create New Jobs

http://www.youtube.com/watch?v=85Olz2h6ehM

The immediate result is the devaluing of the dollar

The Federal Reserves’ policy is a massive tax increase on all Americans as the purchasing power of their money declines daily.

This will only result in higher prices for all imports including gasoline and the costs of all goods and services to the extent they require imported goods and services such as petroleum.

Ron Paul vs. Ben Bernanke

Peter Schiff–Dollar Collaspse–Gold As A Hedge Against The Fed’s Committment To Raise Inflation

Who reappointed The Federal Reserve Chairman, Ben Bernanke,–President Barack Obama.

Ron Paul : We Can’t Say Cut Spending For Food Stamps But NOT For The Military Industrial Complex!

http://www.youtube.com/watch?v=whfopF8Xj8I

All Labor and Unemployment Statistics Are From

The Department of Labor, Bureau of Labor Statistics

http://data.bls.gov/cgi-bin/surveymost?ln

As Of October 2010

The Numbers In Red Are For The Obama Administration

U-3

Series Id: LNS14000000
Seasonally Adjusted
Series title: (Seas) Unemployment Rate
Labor force status: Unemployment rate
Type of data: Percent or rate
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0
2010 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6 9.6

U-6

Series Id: LNS13327709
Seasonally Adjusted
Series title: (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status: Aggregated totals unemployed
Type of data: Percent or rate
Age: 16 years and over
Percent/rates: Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 8.0
2007 8.3 8.1 8.0 8.2 8.2 8.2 8.3 8.5 8.4 8.4 8.5 8.8
2008 9.1 8.9 9.0 9.2 9.7 10.0 10.5 10.9 11.2 11.9 12.8 13.7
2009 14.0 15.0 15.6 15.8 16.4 16.5 16.4 16.8 17.0 17.4 17.2 17.3
2010 16.5 16.8 16.9 17.1 16.6 16.5 16.5 16.7 17.1

Series Id: LNS13000000
Seasonally Adjusted
Series title: (Seas) Unemployment Level
Labor force status: Unemployed
Type of data: Number in thousands
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7059 7185 7075 7122 6977 6998 7154 7097 6853 6728 6883 6784
2007 7085 6898 6725 6845 6765 6966 7113 7096 7200 7273 7284 7696
2008 7628 7435 7793 7631 8397 8560 8895 9509 9569 10172 10617 11400
2009 11919 12714 13310 13816 14518 14721 14534 14993 15159 15612 15340 15267
2010 14837 14871 15005 15260 14973 14623 14599 14860 14767

In order to reduce the U.S. official unemployment rate by .1% in a single month requires the creation of between 250,000 and 300,000 jobs per month depending upon the number of new entrants into the labor market due to population growth and the labor participation rate or those seeking employment.

The labor participation rate goes down as an economy goes into a recession and goes up as the economy grows and prospers. The labor participation rate is currently 64.7%, well below the more normal range of 66% to 67.5% .

A higher labor participation rate means more individuals are actively seeking full-time employment and more jobs need to be created each month to absorb both new entrants and re-entrants into the labor market.

This is the reason why between 250,000 and 300,000 jobs need to be created each month to reduce the unemployment rate just .1%.

Series Id: LNS11300000
Seasonally Adjusted
Series title: (Seas) Labor Force Participation Rate
Labor force status: Civilian labor force participation rate
Type of data: Percent or rate
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.3 66.0 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 66.0 66.2 66.1 66.0 66.1 66.0 66.0 65.8 65.8
2009 65.7 65.7 65.6 65.8 65.8 65.7 65.4 65.4 65.1 65.0 64.9 64.6
2010 64.7 64.8 64.9 65.2 65.0 64.7 64.6 64.7 64.7

It takes at between 100,000 and 150,000 jobs to employ new entrants into the labor market mostly high school and college graduates.

There are currently over 1.1 million new entrants into the labor force that have not found their first job.

Series Id: LNS13023569
Seasonally Adjusted
Series title: (Seas) Unemployment Level – New Entrants
Labor force status: Unemployed
Type of data: Number in thousands
Age: 16 years and over
Unemployed entrant status: New entrants

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 394 420 429 406 466 427 433 499 415 402 419 490
2001 444 396 378 457 468 467 448 485 473 481 495 515
2002 484 507 538 527 497 549 545 612 536 479 591 535
2003 599 584 630 635 630 661 669 652 686 636 593 693
2004 676 666 631 652 718 649 702 704 695 734 700 702
2005 621 753 712 764 710 650 630 626 607 638 673 633
2006 618 710 635 590 522 644 638 647 612 573 583 588
2007 628 599 614 621 536 634 599 590 668 700 661 688
2008 685 660 705 631 807 771 829 826 811 826 735 820
2009 792 1016 881 919 977 969 994 1096 1134 1114 1270 1270
2010 1235 1238 1197 1231 1206 1140 1188 1259 1187

The unemployment rate for the young, ages 16 to 19, is 26%!

The unemployment rate for the young is currently nearly double the usual unemployment rate for ages 16 to 19 of between 12% and 16% when the economy is growing.

Series Id: LNS14000012
Seasonally Adjusted
Series title: (Seas) Unemployment Rate – 16-19 yrs.
Labor force status: Unemployment rate
Type of data: Percent or rate
Age: 16 to 19 years

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9
2006 15.2 15.3 16.1 14.6 14.0 15.7 15.9 16.1 16.3 15.2 14.9 14.7
2007 14.8 14.9 14.9 15.6 15.9 16.2 15.3 16.0 16.0 15.5 16.2 16.9
2008 17.8 16.5 16.0 15.6 18.9 19.0 20.8 18.9 19.3 20.3 20.3 20.8
2009 20.9 21.8 22.0 21.8 23.2 24.3 24.5 25.7 26.1 27.6 26.8 27.1
2010 26.4 25.0 26.1 25.4 26.4 25.7 26.1 26.3 26.0

Both high school graduates and those who either dropped out or failed to graduate from high school are finding it very difficult to find their first job.

Illegal immigrants, mainly from Mexico and Latin America, of between 10 million to 20 million, has made it even more difficult for young inexperienced American citizens to find entry-level jobs.

Also the Federal minimum hourly wage law prevents many small businesses from hiring young workers.

Good Intentions 2 of 3 Minimum Wage, Licensing, and Labor Laws with Walter Williams

Good Intentions 3 of 3 The Welfare System and Conclusions with Walter Williams

It currently takes between 100,000 and 150,000 new jobs in addition to the 100,000 to 150,000 jobs for new entrants to reduce the unemployment rate by .1%.

The civilian labor force is currently about 155 million.

Series Id: LNS11000000
Seasonally Adjusted
Series title: (Seas) Civilian Labor Force Level
Labor force status: Civilian labor force
Type of data: Number in thousands
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150201(1) 150629 150839 150915 151085 151368 151383 151729 151650 152020 152360 152698
2007 153117(1) 152941 153093 152531 152717 153045 153039 152781 153393 153158 153767 153869
2008 154048(1) 153600 153966 153936 154420 154327 154410 154696 154590 154849 154524 154587
2009 154140(1) 154401 154164 154718 154956 154759 154351 154426 153927 153854 153720 153059
2010 153170(1) 153512 153910 154715 154393 153741 153560 154110 154158

Multiply the civilian labor force of about 155 million by .1% and the result is 155,000.

This is approximate number of jobs that need to be created to reduce the unemployment rate by .1 with no growth in the labor force.

When you add in the natural growth of the labor force by new entrants from population growth you arrive at an estimate of between 250,000 to 300,000 new jobs that need to be created each month to reduce the unemployment rate by .1%.

In a robust economic recovery the private sector should be creating 500,000 to 600,000 jobs per month.

Unfortunately, the private business sector and particularly small and medium size businesses, are not creating anywhere near 250,000 to 300,000 per month.

In September the private sector created only a net total of 75,000 new jobs. This is far short of the 250,000 to 300,000 jobs needed to reduce the U-3 official unemployment rate by just .1%.

Even if 250,000 new jobs were being created each month and the unemployment rate declined 1.2% per year and over 3 million jobs were created in a year, it would take over five years to bring the official unemployment rate ( U-3) down to under a 3% rate of unemployment or a near full employment level.

The stimulus package of over $789 billion plus billions in interest payments was supposed to keep the unemployment rate under 8% and not above 8%!

Stimulus II: A Sequel America Can’t Afford

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/white-houses-stimulus-math-doesnt-add-up-100456089.html

The stimulus package has been an abject failure of the Keynesian economists including Romer and Berstein who advised Obama that this was what was needed.

Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143142(1) 143444 143765 143794 144108 144370 144229 144631 144797 145292 145477 145914
2007 146032(1) 146043 146368 145686 145952 146079 145926 145685 146193 145885 146483 146173
2008 146421(1) 146165 146173 146306 146023 145768 145515 145187 145021 144677 143907 143188
2009 142221(1) 141687 140854 140902 140438 140038 139817 139433 138768 138242 138381 137792
2010 138333(1) 138641 138905 139455 139420 139119 138960 139250 139391

President Bush’s Federal income tax rate cuts of 2001 and capital gains and interest rate cuts of 2003 worked and the negative impact on the economy of the September 11, 2001 Islamic Al-Qaeda Jihadist terrorist attack was mostly minimized and avoided.

However, President Bush failed to control Federal Government spending by not vetoing the massive Government spending increases of both the Republican controlled House and Senate in 2005 and 2006 and the Democratic controlled House and Senate in 2007 and 2008.

President Obama followed the lead of President Bush and the Democratic controlled Congress by more than doubling the Federal budget deficits in 2009 and 2010.

Dan Mitchell on the Deficit

Dan Mitchell discusses Reagonomics vs. Obamanomics

The result is the Obama Depression with more than twice the number of Americans looking for a full-time job than the 13 million Americans that were unemployed in March, 1933, the worse month of the Great Depression.

President Obama is following in the footsteps of Presidents Herbert Hoover, Franklin D. Roosevelt, and George W. Bush by pursuing both the expansion of government with huge budgetary deficits (2009 was over $1,400 billion and 2010 is over 1,340 billion) and tax rate increases by letting the Bush tax rate cuts expire, supporting a massive cap-and-trade energy tax and imposing a mandatory health care plan on Americans that they must purchase or pay a tax penalty.

Feldstein Predicts Dollar to Weaken, Boosting Exports: Video

News Update: CBO Deficit estimates

The result is the same–massive unemployment–over 26 million seeking a full-time job and 41.8 million Americans on food stamps.

My recommendation made February 1, 2009 was to first have a six month payroll tax holiday on payroll and capital gains taxes and at the end of the six month period switch from the current Federal income tax system to the FairTax, which is a national sales consumption tax on the sale of all new goods and services.

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! Revised and Updated

The FairTax would replace all Federal personal and corporate income taxes, payroll taxes, Social Security taxes, Medicare taxes, capital gains taxes, interest and dividend taxes, alternative minimum taxes, estate and gift taxes.

The FairTax requires the repeal the 16th Amendment that gave the Federal government the power to collect an income tax.

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

The FairTax is also progressive for it provides a prebate or check each month to every American to pay the sales tax on necessities of living such as food, clothing, housing, and energy (electricity and gasoline).

Had the FairTax been implemented with a six month payroll and capital gains tax holiday, the unemployment rate would have been significantly below 8% by now and the economy growing at a rate above 5%.

The FairTax: It’s Time

The recommended economic policy of cutting both Federal taxes and Federal Government spending and regulation had been tried and proved successful in the past when the United States entered the roaring twenties:

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

While the above economic policy recommendations would still work, it will never happen under the existing ruling political class.

Unfortunately, the political ruling class based in Washington, D.C., both Democrats and Republicans, vigorously opposed those proposing the FairTax.

Comprehensive tax reform is opposed by the lobbyist and special interests on K Street in Washington D.C. who benefit from the complicated Federal Income Tax.

Professional politicians of both political parties need the campaign contributions of these special interests and lobbyists to run for re-election.

The real problem is simply too much Federal Government spending.

The high levels of Federal Government spending is what is driving the need for new and higher Federal taxation, every increasing borrowing to finance the deficits, and a reckless expansionary credit and monetary policy.

The solution is to cut Federal government spending by eliminating entire Federal Departments, agencies and programs.

That is why I recommended that Federal Government spending be limited to 80% of FairTax collections with the remaining 20% used to pay down the National Debt and fund entitlement (Social Security and Medicare) unfunded liabilities.

A Common Sense Political Agenda For A New Conservative and Libertarian Party: American Citizens Alliance Party (ACAP)–A CAP On Government Spending, Taxes, Debt and Regulations!

It’s Simple to Balance The Budget Without Higher Taxes

This solution is anathema to the progressive radical socialist of the Democratic Party led by President Obama.

Instead President Obama went with the failed economic policies of the Keynesian economists who always advocate more and more Federal Government spending, which is precisely what the progressive radical socialists want to impose on the American people.

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

As a direct result of President Obama and the Democratic Party controlled Congress failure in cutting Federal Government spending, closing permanently many Federal Departments and agencies and ending hundreds of Federal Government programs, while proposing even more and higher taxes, more Americans are now unemployed and seeking full-time employment than any time in the history of the United States.

The number of unemployed are twice that of the Great Depression!

The U-3 official unemployment rate will remain above 8% and the U-6 total unemployment rate will remain above 15% for at least another 36 months.

By then the American people will vote President Obama out of office.

By then the American people will vote those Democratic and Republican Senators and Representatives who failed to institute deep and permanent cuts to the Federal budget, a balanced or surplus budget and the FairTax.

President Obama is a progressive radical socialist ideologue.

Obama wants to grow the size and scope of the Federal Government and use coercion and government intervention in the form of higher taxes and pervasive government regulation to redistribute wealth and limit consumer sovereignty and the liberties of the American people.

Paul Ryan on how to break the capital strike

Krauthammer: “We Are Having A Capital Strike”

President Obama’s economic policies created massive economic uncertainty for consumers and businesses resulting in tens of millions of unemployed and underemployed Americans.

President Obama is a regime that must be changed if there is any hope for the tens of millions of unemployed Americans to find a full-time job.

On November 2, 2010 the American people will vote the Democrats out of office who were responsible for this economic disaster by massive government intervention into the economy and expansion of the size and scope of government.

Most Americans cannot wait to vote President Obama out of office in 2012.

Mr. President, you know you are an economic illiterate.

Do the right thing Mr. President, resign for the good of the country and the American people.

Just think, Mr. President, you will have more time to play golf, smoke and be with your family.

Everbody wins.

Good-Bye and Good Luck.

“Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individual’s life and the unrestricted supremacy of the government in its capacity as central board of production management.”

~Ludwig von Mises

Background Articles and Videos

Christina Romer explains a new report about job creation

The Job Impact of the American Recovery and Reinvestment Plan

By Christine Romer and Jared Bernstein

January 9, 2009

http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf

Christie Romer: The Only Surefire Way for Policymakers to Substantially Increase Aggregate Demand in the Short Run Is for the Government to Spend More and Tax Less

“…In a report that Jared Bernstein and I issued during the transition, we estimated that by the end of 2010, a stimulus package like the Recovery Act would raise real GDP by about 3 1⁄2 percent and employment by about 31⁄2 million jobs, relative to what otherwise would have occurred. As the Council of Economic Advisers has documented in a series of reports to Congress, there is widespread agreement that the Act is broadly on track to meet these milestones…. What the Act hasn’t done is prevent unemployment from going above 8 percent, something else that Jared and I projected it would do. The reason that prediction was so far off is implicit in much of what I have been saying this afternoon. An estimate of what the economy will look like if a policy is adopted contains two components: a forecast of what would happen in the absence of the policy, and an estimate of the effect of the policy. As I’ve described, our estimates of the impact of the Recovery Act have proven quite accurate. But we, like virtually every other forecaster, failed to anticipate just how violent the recession would be in the absence of policy, and the degree to which the usual relationship between GDP and unemployment would break down.

By February 2009, before the Recovery Act was passed, unemployment was already over 8 percent; and by June, before the Recovery Act could have had much of an impact, it was 9 1⁄2 percent… our projection turned out to be wrong even before the Recovery Act had a chance to get off the ground, which is about as clear-cut evidence as one could imagine that the problem was in our assessment of the baseline, and not in the effects of the Act….

I certainly don’t regret having done the study. During the Transition, the little paper helped to build the case both internally and externally for a stimulus of unprecedented proportions. Only in retrospect does saying that our best guess was that unemployment would rise to 9 1⁄2 percent without aggressive action look rosy. At the time, it was scary as hell. It helped convince both our team and the Congress to go for as big a program as possible. And laying down a firm marker that the legislation had to save or create 3 1⁄2 million jobs helped prevent the package from shrinking greatly during Congressional negotiations….

The thing I do regret is that there is still so much unfinished business. I would give anything if unemployment really were down to 8 percent or lower…. That the economy remains as troubled as it is despite aggressive action reflects the fact that this has not been a normal recession. Just as the downturn was uncharted territory, so is its recovery. Because the recession began with interest rates at low levels, we can’t just have interest rates fall and housing, investment, and other interest-sensitive sectors come roaring back as they typically do in recoveries….”

http://delong.typepad.com/sdj/2010/09/christie-romer-the-only-surefire-way-for-policymakers-to-substantially-increase-aggregate-demand-in-the-short-run-is-for-the.html

Democratic Pollster: GOP Poised to Seize House and Senate

By: David A. Patten

“…Republicans are on the brink of pulling off a landslide “of potentially epic proportions” that would bring them control of both Houses of Congress and a majority of governorships, Democratic pollster and Fox News commentator Douglas Schoen says.

In an exclusive Newsmax interview, Schoen says he now sees several indications that matters are going from bad to worse for Democrats in this election cycle.

He points to a RealClearPolitics.com analysis that now shows Republicans picking up a net gain of nine seats in the Senate, which would deadlock the upper chamber 50 to 50. And polls show several other GOP candidates, including Carly Fiorina in California and Dino Rossi in Washington state, remain within striking distance, he says.

Schoen, a pollster for former President Bill Clinton, is co-author of the new book “Mad as Hell: How the Tea Party Movement is Fundamentally Remaking Our Two-Party System.”
…”

http://www.newsmax.com/Headline/gop-polls-lead-democrats/2010/10/08/id/373121?s=al&promo_code=AF37-1

Monetization

“…Monetization is the process of converting or establishing something into legal tender. It usually refers to the printing of banknotes by central banks, but things such as gold, diamonds and emeralds, and art can also be monetized. Even intrinsically worthless items can be made into money, as long as they are difficult to make or acquire. Monetization may also refer to exchanging securities for currency, selling a possession, charging for something that used to be free or making money on goods or services that were previously unprofitable. …”

“…Monetizing debtIn many countries the government has assigned exclusive power to issue or print its national currency to independently operated central banks. For example, in the USA the independently owned and operated Federal Reserve banks do this.[1] Such governments thereby disavow the overly convenient ‘slippery slope’ option of paying their bills by printing new currency. They must instead pay with currency already in circulation, or else finance deficits by issuing new bonds, and selling them to the public or to their central bank so as to acquire the necessary money. For the bonds to end up in the central bank it must conduct an open market purchase. This action increases the monetary base through the money creation process. This process of financing government spending is called monetizing the debt.[2] Monetizing debt is thus a two step process where the government issues debt to finance its spending and the central bank purchases the debt from the public. The public is left with an increased supply of base money.

Effects on inflation

When government deficits are financed through this method of debt monetization the outcome is an increase in the monetary base, or the money supply. If a budget deficit persists for a substantial period of time then the monetary base will also increase, shifting the aggregate demand curve to the right leading to a rise in the price level.[3] When governments intentionally do this, they devalue existing stockpiles of wealth of anyone who is holding assets based in that currency. It is in essence a “tax” as the overall value of their assets decrease due to a loss in spending power. This is known as “inflation tax“.

To summarize: a deficit can be the source of sustained inflation only if it is persistent rather than temporary and if the government finances it by creating money (through monetizing the debt), rather than leaving bonds in the hands of the public.[4]

Examples

Monetizing the debt can be used as a component of quantitative easing strategies, which involve the creation of new currency by the central bank, which may be used to purchase government debt, or can be used in other ways.

However, there can be an insidious effect. As one observer noted:

When governments reach the point where they are borrowing to pay the interest on their borrowing they are coming dangerously close to running a sovereign Ponzi scheme. Ponzi schemes have a way of ending unhappily. To get out of the Ponzi trap, governments will have to increase tax revenues, or cut spending, or monetize the debt–or most likely do some combination of all three. [5] …”

http://en.wikipedia.org/wiki/Monetization

Quantitative Easing

“…The term quantitative easing (QE) describes a monetary policy used by central banks to increase the supply of money by increasing the excess reserves of the banking system. This policy is usually invoked when the normal methods to control the money supply have failed, i.e the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero.

A central bank implements QE by first crediting its own account with money it creates ex nihilo (“out of nothing”).[1] It then purchases financial assets, including government bonds, agency debt, mortgage-backed securities and corporate bonds, from banks and other financial institutions in a process referred to as open market operations. The purchases, by way of account deposits, give banks the excess reserves required for them to create new money, and thus hopefully induce a stimulation of the economy, by the process of deposit multiplication from increased lending in the fractional reserve banking system.

Risks include the policy being more effective than intended, spurring hyperinflation, or the risk of not being effective enough, if banks opt simply to sit on the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio.[1]

“Quantitative” refers to the fact that a specific quantity of money is being created; “easing” refers to reducing the pressure on banks.[2] However, another explanation is that the name comes from the Japanese-language expression for “stimulatory monetary policy”, which uses the term “easing”.[3] Quantitative easing is sometimes colloquially described as “printing money” although in reality the money is simply created by electronically adding a number to an account. Examples of economies where this policy has been used include Japan during the early 2000s, and the United States, the United Kingdom and the Eurozone during the global financial crisis of 2008–the present, since the programme is suitable for economies where the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero.

http://en.wikipedia.org/wiki/Quantitative_easing

Consumer Sovereignty

“…Consumer sovereignty is a term which is used in economics to refer to the rule or sovereignty of consumers in markets as to production of goods. It is the power of consumers to decide what gets produced. People use this term to describe the consumer as the “king,” or ruler, of the market, the one who determines what products will be produced. [1] Also, this term denotes the way in which a consumer ideologically chooses to buy a good or service. Furthermore, the term can be used as either a norm (as to what consumers should be permitted) or a description (as to what consumers are permitted).

In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers as what to produce (and how much). Customers do not necessarily have to buy and, if dissatisfied, can take their business elsewhere, while the profit-seeking sellers find that they can make the greatest profit by trying to provide the best possible products for the price (or the lowest possible price for a given product). In the language of cliché, “The one with the gold makes the rules.”

To most neoclassical economists, complete consumer sovereignty is an ideal rather than a reality because of the existence—or even the ubiquity—of market failure. Some economists of the Chicago school and the Austrian school see consumer sovereignty as a reality in a free market economy without interference from government or other non-market institutions, or anti-market institutions such as monopolies or cartels. That is, alleged market failures are seen as being a result of non-market forces.

The term “consumer sovereignty” was coined by William Hutt who firstly used it in his 1936 book “Economists and the Public”. …”

http://en.wikipedia.org/wiki/Consumer_sovereignty

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Paul Krugman–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Liberal Fascism–Jonah Goldberg–Videos

Dan Mitchell–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Robert P. Murphy–Government Stimulus: Repeating the mistakes of the Great Depression–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

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Loudspeakers and Monitoring–Videos

Posted on October 8, 2010. Filed under: Acoustics, Audio, Loudspeakers, Psychacoustics, Web | Tags: , , , , , , , , , , , |

 A look at the I key powerd studio monitors, M Series 606

Yamaha MSP5 Studio Monitors Reviewed

 

Main Points To Remember

1. Loudspeakers are transducers that convert electric energy into sound energy.

2. Loudspeakers area available in the moving-coil, ribbon, and capacitor designs. The moving-coil loudspeaker is by far the most common.

3. Loudspeakers that are powered externally are called passive speakers. Loudspeakers that are powered internally are called active speakers.

4. A single, midsized speaker cannot reproduce high and low frequencies very well; it is essentially a midrange instrument.

5. For improve response, loudspeakers have drivers large enough to handle the bass frequencies and drivers small enough to handle the treble frequencies. These drivers are called, informally, woofers and tweeters, respectively.

6. A crossover network separates the bass and the treble frequencies at the crossover point, or crossover frequency, and directs them to their particular drivers.

7. Two-way system loudspeakers have one crossover network, three-way system loudspeakers have two crossovers, and four-way system loudspeakers have three crossovers.

8. In a passive crossover network, the power amplifier is external to the speakers and precedes the crossover. In an active crossover network, the crossover precedes the power amps.

9. Each medium that records or transmits sound, such as a CD or a TV, and each loudspeaker that reproduces sound, such as a studio monitor or a home receiver, has certain spectral and amplitude capabilities. For optimal results audio should be produced with an idea of how the system through which it will be reproduced works.

10. In evaluating a monitor loudspeaker, frequency response, linearity, amplifier power, distortion, output-level capability, sensitivity, polar response, arrival time, and phase should also be considered.

11. Linearity means that frequencies being fed to a loudspeaker at a particular loudness are reproduced at the same loudness.

12. Amplifier power must be sufficient to drive the loud speaker system, or distortion, among other things, will result.

14. Distortion is the appearance of a signal in the reproduced sound that was not in the original sound. Various forms of distortion include intermodulation, harmonic, transient, and loudness.

15. Intermodulation distortion (IM) results when two or more frequencies occur at the same time and interact to create combinations tones and dissonances that are unrelated to the original sounds.

16. Harmonic distortion occurs when the audio system introduces harmonics into a recording that were not present originally.

17. Transient distortion relates to the inability of an audio component to respond quickly to a rapidly changing signal, such as that produced by percussive sounds.

18. Loudness distortion, or overload distortion, results when a signal is recorded or played back at an amplitude greater than the sound system can handle.

19. The main studio monitors should have an output-level capability of 110 dB-SP.

20. Sensitivity is the on-axis sound-pressure level a loudspeaker produces at a given distance when driven at a certain power. A monitor’s sensitivity rating provide a good overall indication of its efficiency.

21. Polar response indicates how a loudspeaker focuses sound at the monitoring position(s).

22. The coverage angle is the off-axis angle or point at which loudspeaker level is down 6 dB compared with the on-axis output.

23. A sound’s arrival time at the monitoring position(s) should be no more than 1 ms: otherwise, aural perception is impaired.

24. Where a loudspeaker is positioned affects-sound dispersion and loudness. A loudspeaker in the middle of a room generates the least-concentrated sound; a loudspeaker at the intersection of a ceiling or floor generates the most.

25. Stereo sound is two-dimensional; it has depth and breadth. in placing loudspeakers for monitoring stereo, it is critical that they be positioned symmetrically within a room to reproduce  an accurate and balance front-to-back and side-to-side sonic image.

26. Loudspeakers used for far-field monitoring are usually large and can deliver very wide frequency response at moderate to quite loud levels with relative accuracy. They are built into the mixing-room wall above, and at a distance several feet from, the listening position.

27. Near-field monitoring enables the sound engineer to reduce the audibility of control room acoustics, particularly the early reflections, by placing loudspeakers close to the monitoring position.

28. Surround sound differs from stereo by expanding the depth dimension, thereby placing the listener more in the center of the aural image than in front of it. Therefore, using the 5.1 surround-sound format, monitors are positioned front-left, center, and front-right, and the surround loudspeakers are placed left and right behind, or to the rear sides of, the console operator. A subwoofer can be positioned in front of, between the center and the left or right speaker, in a front corner or to the side of the listening position, Sometimes in the 5.1 surround set-up, two subwoofers may be `positioned to either side of the listening position.

29. In adjusting and evaluating monitor sound, objective and subjective measures are called for. Devices such as a spectrum analyzer measure the relationship  of monitor sound to room sound. Although part of testing a monitor loudspeaker involves subjectivity, there are guidelines for determining performance.

30. In evaluating the sound of a monitor loudspeaker it is helpful to, among other things, use material with which you are intimately familiar and to test various loudspeaker responses with different types of speech and music.

31. Headphones are an important part of monitoring particularly on location. Five considerations are vital in using headphones: (1) frequency response should be wide, flat, and uncolored; (2) you must be thoroughly familiar with the headphones’ sonic characteristics before you use them; (3) the headphones should be airtight against the head for acoustical isolation; (4) the fit should stay snug even when you are moving; and (5) stereo headphones should be used for monitoring surround sound.

27.

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Synchronization And Transfers–Videos

Posted on October 8, 2010. Filed under: Audio, Law, Radio, Recordings, Sound, Sound Effects, Speech, Synchronization, Web | Tags: , , , , , , |

 

Midi Time Code & SMPTE Synchronization for Midi Composers

How to Synchronize Audio and Video

How to Make a Good Basic YouTube Video

Cheap Wireless Radio Mics From eBay – any good?

Radio Mics & Alternatives for Low Budget Filmmaking?

Main Points To Remember

1. Synchronization allows the locking of two or more devices that have microprocessor intelligence so that they operate at precisely the same rate.

2. Accurate synchronization requires a system to code the recording media as well as a synchronizer to read the codes, compare them, and adjust the positions and speeds of machine transports so that they run at exactly the same rate.

3. There are three basic time codes: longitudinal time code and vertical interval time code, both of which are forms of  SMPTE time code; MIDI time codes; and the IEC standard.

4. SMPTE time code is a high-frequency electronic digital signal consisting of a stream of pulses produced by a time code generator. Its identifying code numbers are broken down into hours, minutes, seconds, and frames.

5. SMPTE longitudinal time code (LTC) is a digital signal converted to audio frequencies so it can be recorded on an audio track.

6. Vertical interval time code (VITC) carries the same information as SMPTE code, but it is used with video-tape and encodes the information vertically within the video signal, outside the visible picture area.

7. MIDI time code (MTC) translates SMPTE time code into MIDI messages.

8. The IEC (International Electrotechnical Commission) standard is the time code system used in digital audio-cassette recorders to ensure compatibility among all R-DAT equipment.

9. Because all time code readouts are in the same form, it is easy to confuse them if any numbers are duplicated on the same tape or on multiple tapes in a production. Two ways to avoid this confusion are to use the zero-start or the time-of-day logging method.

10. In recording SMPTE time code, be careful to record it at the recommended level. It the signal is recorded at too low a level, synchronization is adversely affected. If it is recorded  at too high a level, the time code signal will distort.

11. Every digital audio system has a signal, known as a word clock, generated inside the device that controls sampling frequency, or sampling rate. With digital audio, sampling rate is the determining syn factor.

12. A degradation in word-clock signals among the digital devices being interfaced can create jitter–a variation in time from sample to sample that causes changes in the shape of the audio waveform.

13. Five frame rate standards are used within SMPTE time code: 23.976, 24, 25, 29.97, and 30 frames per second (fps).

14. Frame rates for television are in either drop frame or non-drop frame format. Drop frame time code is time-accurate because it makes up for the error that results from the difference between the 29.97-fps and the 30-fps rate of video. Non-drop frame is the original video time code calculated at 30 fps. The two modes are not interchangeable.

15. In double-system recording, sound and picture are recorded separately and in syn; the camera records the picture, and an audio recorder handles the sound.

16. In single-system recording, both sound and picture are recorded on the same medium.

17. Two methods used to synchronize the film camera and the audio recorder in double-system recording are crystal synchronization and time code synchronization.

18. In double-system recording, a clapslate is used to make a visible and an audible syn mark on the film and audio recording, respectively. This helps identify and synchronize scenes during their transfer from the audio recoding to magnetic film, or more common, hard disk, and in editing.

19. Time code permits the accurate interlocking of two or more recorders, but a synchronizer is necessary to ensure that their transports run together simultaneously.

20. Copying sound (or picture) from one audio film or video device to another is usually called a transfer. Dub is another often-used term to describe this process.

21. Common audio transfers are analog to analog, analog to digital, and digital to digital.

22. In transferring audio, the sound can be altered for special effects.

23. The process of transferring a double-system film recording for postproduction to align the audio and the film is called resolving.

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