We had a funny guy with us in Korea. A tailgunner. They blew his brains out all over the Pacific. (Long pause) There's nothing funny about that.
Posted on 03/11/2017 9:02:50 AM PST by PK1991
President Trump lauds job numbers he once impugned. He is now owns the bubble burst and resulting collapse with less than two months in office.
The workforce participation rate also went for the first time in decade.
We had a funny guy with us in Korea. A tailgunner. They blew his brains out all over the Pacific. (Long pause) There's nothing funny about that.
Oh for eff sakes!! So, Obama takes advantage of the more favorable numbers for 8 years. Try as Trump and others did to point out the real numbers the media shut it down and refused to print it. Fine, they set the rules, now they have to live with them.
But oh no, suddenly in a fit of fakeness the media is concerned with the other numbers. And Trump is supposed to do what?!? Just acquiesce to the moving of the goal posts? He is supposed to do this while the media will continue to report glowingly on Obama’s economic performance based on the favorable, cherry picked unemployment number?
What is good for the goose is good for the gander. When the media wants to reflect on Obama’s economic performance using all the unemployment numbers, then so be it. In the meantime, resist this sucker play.
I agree; I did not understand the reference at first. I had to look it up. :)
Alternate headline: Media rejects job numbers it accepted under Obama.
I didn’t know Trump could dictate interest rates. When did he get that power?
“By all appearances notes SHTFPlan.com’s Mac Slavo, President Trump is doing his damnedest to turn around the economy, revitalize jobs and bring back prosperity. But the larger trends are already in place; the cycle is turning, and the bust cannot be put off forever.
Federal Reserve policy has literally set the country up for collapse, and though the central bank has been very creative in making the impossible work, and putting off disaster, nothing can hold back the flood forever.
Unfortunately, it looks like Trump may be blamed for a financial crisis that he didn’t cause. Analysts, including notably Brandon Smith, may be correct in pinpointing the attempt to use the new and highly controversial president as a scapegoat for the dirty work of the bankers.
The conditions are there, and the consequences were built in when the bubble was still being pumped up. Someday it will burst. When, how, and how bad remains to be seen.”
“Steve Bannon is accustomed to start many of his talks to activists and Tea Party gatherings in the following way:
“At 11 o’clock on 18 September 2008, Hank Paulson and Ben Bernanke told the U.S. President that they had already stove-piped $500 billions of liquidity into the financial system during the previous 24 hours – but needed a further one Trillion dollars, that same day.
The pair said that if they did not get it immediately, the U.S. financial system would implode within 72 hours; the world’s financial system, within three weeks; and that social unrest and political chaos could ensue within the month.”
(In the end, Bannon notes, it was more like $5 trillion that was required, though no one really knows how much, as there has been no accounting for all these trillions).
“We (the U.S.) have”, he continues, “in the wake of the bailouts that ensued, liabilities of $200 trillions, but net assets – including everything – of some $50-60 trillion.”
“We are upside down; the industrial democracies today have a problem we have never had before; we are over-leveraged (we have to go through a massive de-leveraging); and we have built a welfare state which is completely and totally unsupportable.
“And why this is a crisis … the problem … is that the numbers have become so esoteric that even the guys on Wall Street, at Goldman Sachs, the guys I work with, and the Treasury guys … It’s so tough to get this together … Trillion dollar deficits … etcetera.”
But, Bannon says — in spite of all these esoteric, unimaginable numbers wafting about — the Tea Party women (and it is mainly led by women, he points out) get it. They know a different reality: they know what groceries now cost, they know their kids have $50,000 in college debt, are still living at home, and see no jobs in prospect.
And it’s not just Bannon. A decade earlier, in 2000, Donald Trump was writing in a very similar vein in a pamphlet that marked his first toying with the prospect of becoming a Presidential candidate: “My third reason for wanting to speak out is that I see not only incredible prosperity … but also the possibility of economic and social upheaval … Look towards the future, and if you are like me, you will see storm clouds brewing. Big Trouble. I hope I am wrong, but I think we may be facing an economic crash like we’ve never seen before.”
And before the recent presidential election, Donald Trump kept to this same narrative: the stock market was dangerously inflated. In an interview on CNBC, he said, “I hope I’m wrong, but I think we’re in a big, fat, juicy bubble,” adding that conditions were so perilous that the country was headed for a “very massive recession” and that “if you raise interest rates even a little bit, (everything’s) going to come crashing down.”
THe thing that scares me a bit is his legions of flying monkeys who spout his same irrational shite and feel they are entitled to say and do anything they like as long as it feels right to them without fear of consequences. They need to be made to feel the consequences of their actions.
If we had listened to the media there would be no President Trump.
Been here since Jan 8, eh?
Somehow, I seem to smell ozone.
Hoss
When I worked for the Canadian FedGove, that’s exactly what they did: 50 consecutive weeks, 2 “laid off”, then a new contract. Every year. I eventually found a better paying more stable position, but it took 4 years.
Did U6 rate go down? I don’t believe the cited rate anymore than when Obama was in office.
Not one stinking Fed has exposed the Hussein fraud for the past 8 years!
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