Everything we hear from the US government, the puppet governments of its vassal states, and the presstitute media is a lie. Truth is the declared enemy of the West. Those who try to tell the truth do so at cost to themselves. These costs can range from exclusion and slander to watch lists to prosecution and imprisonment. Brave people like Julian Assange, Edward Snowden, William Binney, and Bradley Manning have paid an extremely high price for standing up for truth against evil.
Reality is finally settling in. Natural laws of supply and demand are back in action. Stocks are sliding, banks are finally slimming down, and oil’s getting crushed.
The market at large has proved its innate vulnerability despite the Fed’s best efforts to distort the real macroeconomic picture at play.
Economists are (finally) admitting that central bankers have run out of ammunition to sustain the illusion of the Fed as our knight in shining armor.
It’s incredible how many traditional fairytale parallels have been cited when referring to a very real financial experiment gone very wrong.
Ed Yardeni cited “The Wizard of Oz.” International Monetary Fund Managing Director Christine Lagarde went with both “Alice in Wonderland” and Harry Potter. Stephen King — the HSBC Holdings Plc chief economist, not the author — trolled the fantasy aisle.
- CHINA & RUSSIA HAVE BEEN DUMPING U.S. DOLLARS SINCE 2010: TAKES SEVERAL YEARS FOR IMPACT ~ ITS NOW 2014.
The US non-farm payrolls data released on Friday at first focused on an increase in new jobs last month but that was something of a mirage with a record 806,000 people dropping out of the labor market in April taking the percentage of adults employed back to a level not seen since 1978.
If this is a recovery this correspondent is a pink elephant. It follows just 0.1 per cent annualized GDP growth in the first quarter and a spectacular slump in new home sales and mortgage lending.
- Still Jobless In America: New Unemployment Ponzi Scheme ~ The Foreign Imported H-1B Visa Candidate!
- 3 Times As Many People Dropped Out Of Labor Force Then Joined It For Summer Time Employment.
The most recent polling finds that Republican voters have elevated Newt Gingrich to presidential frontrunner status.
But it is difficult to believe that those supporting him agree with his amnesty plan or are even aware that his proposal sounds like it would give U.S. jobs and residency to around 3.5 million illegal aliens (according to a new Pew Hispanic Center study).
Unless Gingrich supporters push him to back off, he is promising a bigger amnesty than the giant blanket amnesty of 1986 that was supposed to be the first and last one ever. Hopefully, his supporters can talk him into cutting out at least 90% of his amnesty.
According to the unemployment data released this morning, the economy added only 54,000 jobs, pushing the unemployment rate up to 9.1 percent. However, this report from MarketWatch suggests the data is much worse than that:
Hard As It Is To Land A Job These Days, Getting One, Is Not Nearly Enough For Basic Economic Security.
A few minutes ago, the White House issued a new report claiming that the Stimulus Bill earlier this year has created or saved approximately 650,000 U.S. jobs.
All of us need to point out to every local newspaper, every Member of Congress and every one of our co-workers and family that the federal government has imported more than amillion working-age foreign citizens this year to negate every positive impact the stimulus could have had for U.S. workers.
Yes, we are happy to see the news that far fewer H-1B visas have been issued this year for foreign tech workers than usual. But the H-1B visas — as destructive as they are to some occupations — are only a tiny fraction of the flow of working-age foreign citizens into the U.S. each year.
Here is what CNN just reported about the Stimulus jobs:
WASHINGTON (CNNMoney.com) — The largest stimulus program in the nation’s history has created or saved at least 650,000 state and local jobs, according to a report released by the Obama administration on Friday.
Based on approximately $150 billion in spending from the $787 billion recovery package, the tally is the first broad, concrete look at the stimulus program’s impact on the economy. The numbers are drawn from tens of thousands of reports from state and local recipients as well as private companies.
NumbersUSA has tried since last November to persuade the news media to monthly report how many working-age foreign citizens are getting first-time work permits from the feds.
It remains the great national secret because the U.S. news media — from the liberal to the conservative wing — won’t report these facts.
So, NumbersUSA once again will stand alone in telling you the inconvenient truth from the latest U.S. government statistics:
Each month, the feds give out about 160,000 first-time permanent and temporary work permits to working-age foreign citizens.
The 160,000 working-age foreign citizens are divided almost equally into those getting permanent work permits through green cards and those getting temporary work permits each month.
Of the immigrants aged 18-65 who get permanent work permits each month, about 35,000 of them were already working in the U.S. on previous temporary work permits.
Thus, the NET figure is 160,000 minus 35,000 equals about 125,000 foreign citizens who are getting a work permit for the first time each month.
The bottom line is that while this White House has focused on saving or creating 650,000 U.S. jobs, that same White House and about 90% of the Members of the U.S. Congress have allowed the federal bureaucracy to give out permanent and temporary work permits to about 1 million one hundred and twenty-five thousand first-time foreign workers thus far during 2009.
The White House said the actual number of jobs created so far is likely closer to 1 million, since its report on stimulus job creation only focused on $150 billion of the $339 billion in American Recovery and Reinvestment Act funds spent so far.
Even if you accept the White House’s claim of having created/saved 1 million jobs, the feds have wiped out all the benefit to the American worker by giving work permits to 1.125 million new foreign workers in 2009.
Until Pres. Obama and Congress pass an Immigration Suspension bill, they are going to be throwing hundreds of billions of dollars down a rat hole as they create jobs in the economy that don’t even keep up with the immigrants they are bringing into the country.
I hope you will pass along your thoughts about this to the President and to your three Members of Congress.
ROY BECK is Founder & CEO of NumbersUSA
The number of jobs in the U.S. is currently 129.7 million. So to justify the Administration’s current claim of 2.8 million jobs “created or saved” by stimulus, they need to also claim that without that stimulus there would be only 126.9 million jobs. That’s exactly what they do, displayed as the “baseline projection” level in the graphic below from an April 14, 2010 report:
An inconvenient truth, at least for the Obama Administration, is that once upon a time, in their January 2009 Romer/Bernstein Report they told America that without their stimulus there would be 133.9 million jobs. That’s right, in order to make it look like their stimulus has “created or saved” 2.8 million jobs, the Obama Administration first had to whack 7 million jobs from their previous estimates.