While the mainstream media continues in its outrageous behavior towards Obama, attempting to spin the rise in unemployment for Americans as positive news, choosing instead to focus on the 163,000 Nonfarm payrolls jobs added last month.
The jobless rate climbed to 8.3 percent for July, negating the slight bump up in jobs from the last several months, which stood at approximately 75,000 on average during that period of time.
Unemployment jumped because people stopped looking for work.
As for the labor force participation rate, it dropped from 63.8 percent in June to 63.7 percent in July. The rate measures the number of Americans who are looking for or have a job.
In other bad news for the inept Obama, the U.S. economy slowed to an annual growth rate of only 1.5 percent in the second quarter, far below the 3.5 percent growth rated needed to stabilize the unemployment rate.
I'm not sure how a rise in unemployment can be interpreted as good news, but the increasingly corrupt mainstream media is construing it so, as they feverishly work to put Obama back in the White House again, even in light of his inexperience and radical agenda, which has devastated the economy and is tearing apart the country.
It also appears the weak numbers could result in the Federal Reserve again attempting to stimulate the economy in September, as the election looms a couple of months later.
Again, somehow the lackluster jobs numbers and boost in unemployment is somehow being attempted to be made to look like positive events which could stay the quantitative easing hand of Ben Bernanke, the Chairman of the Fed.
While Acts29Review opposes stimulus from the Federal Reserve in any form, it's still bizarre for the media to attempt to make the economy look better than it is in an attempt to prop up the empty suit occupying the White House.
Showing posts with label Ben Bernanke. Show all posts
Showing posts with label Ben Bernanke. Show all posts
Friday, August 3, 2012
Thursday, August 2, 2012
The legislation introduced by Ron Paul overwhelmingly passed the House on July 25 by a vote of 327 to 98. But as long as the Democrats control the Senate, there is little chance of seeing the Federal Reserve audited any time soon.
What Paul and millions of Americans want to know is how and what the Federal Reserve has been specifically doing when bailing out giant banks, and what it is it is doing in distributing funds to foreign nations that American citizens are on the hook for.
Here's the disingenuous and consistent argument of Bernanke:
"We fully accept the need for transparency and accountability, but it is a well-established fact that an independent central bank will provide better outcomes."
What's wrong with that statement? For one thing, there is no established fact whatsoever that the central bank operates better than one that is under the scrutiny of the American people.
More importantly, there is absolutely no connection between being transparent and what Bernanke calls an "independent" central bank. What does being independent have to do with transparency? Absolutely nothing. The words aren't even close in meaning. It's a play on words and ploy by Bernanke, which his media supporters grab onto in order to take away the actual meaning of the word transparency and completely change it into a completely different concept altogether.
Ron Paul concurs he says:
"When the Fed talks about independence, what they’re really talking about is secrecy. What the GAO cannot audit is monetary policy. It would not be able to look at agreements and operations with foreign central banks, and governments, and other banks, transactions made under the direction of the FOMC, and discussions or communications between the board and the Federal Reserve system relating to all those items. And why this is important is because of what happened 4 years ago. It’s estimated that the amount of money that went in and out of the Fed overseas is $15 trillion. How did we get into this situation where Congress has nothing to say about bailing out all these banks?"
The very secrecy itself confirms that Bernanke's statement is nothing more than a lie. His assertion that an "independent" Federal Reserve produces better outcomes is unprovable as long at the central bank is allowed to continue operating in secrecy. Bernanke is blowing hot air when he says the bank operates better when left alone.
From a point of view of Jesus Christ, everything is open before his eyes, and the transparency revealed throughout the Holy Scriptures concludes that transparency is part of His person hood, and by extension, to be part of the world we live in.
This is especially true when talking about an institution that has almost unlimited economic power (everything is limited under God), to do whatever it chooses to do.
We need to never stop insisting the Federal Reserve is audited. Eventually, we as Christians need to oppose central banking around the world, putting an end to these monstrosities that are attempting to control the fate of mankind in a move to subvert the Jesus Christ and His people.
There is a date the Lord has with central banks, and they will be facing a day when Jesus will put an end to this atrocious and brutal power which destroys the lives of people by debasing currencies, buying power and offering support to things we have no idea about.
The first step is to audit the Federal Reserve. There is no doubt the battle is over what is being done in secret and under the noses of the American people, and by central banks in other countries as well.
Once that is revealed, it is certain there will be an uprising against the Federal Reserve, which will ultimately lead to its banishment forever.
After all, it's the central banks of the world, and the Federal Reserve specifically, which give governments the capital to continue to expand and enlarge at the loss of liberty of people everywhere.
Christians need to know their unique position in the world of being a counterculture and testimony against these abuses, puts them squarely in the sights of power, as it has since the time Jesus Christ physically walked the earth.
Consequently, we all need to reject the central bank and large government as legitimate entities, and work and pray for the day when the Federal Reserve and other central banks around the world are abolished, and governments brought back to their very limited roles instituted by Jesus Christ for this world.
What Paul and millions of Americans want to know is how and what the Federal Reserve has been specifically doing when bailing out giant banks, and what it is it is doing in distributing funds to foreign nations that American citizens are on the hook for.
Here's the disingenuous and consistent argument of Bernanke:
"We fully accept the need for transparency and accountability, but it is a well-established fact that an independent central bank will provide better outcomes."
What's wrong with that statement? For one thing, there is no established fact whatsoever that the central bank operates better than one that is under the scrutiny of the American people.
More importantly, there is absolutely no connection between being transparent and what Bernanke calls an "independent" central bank. What does being independent have to do with transparency? Absolutely nothing. The words aren't even close in meaning. It's a play on words and ploy by Bernanke, which his media supporters grab onto in order to take away the actual meaning of the word transparency and completely change it into a completely different concept altogether.
Ron Paul concurs he says:
"When the Fed talks about independence, what they’re really talking about is secrecy. What the GAO cannot audit is monetary policy. It would not be able to look at agreements and operations with foreign central banks, and governments, and other banks, transactions made under the direction of the FOMC, and discussions or communications between the board and the Federal Reserve system relating to all those items. And why this is important is because of what happened 4 years ago. It’s estimated that the amount of money that went in and out of the Fed overseas is $15 trillion. How did we get into this situation where Congress has nothing to say about bailing out all these banks?"
The very secrecy itself confirms that Bernanke's statement is nothing more than a lie. His assertion that an "independent" Federal Reserve produces better outcomes is unprovable as long at the central bank is allowed to continue operating in secrecy. Bernanke is blowing hot air when he says the bank operates better when left alone.
From a point of view of Jesus Christ, everything is open before his eyes, and the transparency revealed throughout the Holy Scriptures concludes that transparency is part of His person hood, and by extension, to be part of the world we live in.
This is especially true when talking about an institution that has almost unlimited economic power (everything is limited under God), to do whatever it chooses to do.
We need to never stop insisting the Federal Reserve is audited. Eventually, we as Christians need to oppose central banking around the world, putting an end to these monstrosities that are attempting to control the fate of mankind in a move to subvert the Jesus Christ and His people.
There is a date the Lord has with central banks, and they will be facing a day when Jesus will put an end to this atrocious and brutal power which destroys the lives of people by debasing currencies, buying power and offering support to things we have no idea about.
The first step is to audit the Federal Reserve. There is no doubt the battle is over what is being done in secret and under the noses of the American people, and by central banks in other countries as well.
Once that is revealed, it is certain there will be an uprising against the Federal Reserve, which will ultimately lead to its banishment forever.
After all, it's the central banks of the world, and the Federal Reserve specifically, which give governments the capital to continue to expand and enlarge at the loss of liberty of people everywhere.
Christians need to know their unique position in the world of being a counterculture and testimony against these abuses, puts them squarely in the sights of power, as it has since the time Jesus Christ physically walked the earth.
Consequently, we all need to reject the central bank and large government as legitimate entities, and work and pray for the day when the Federal Reserve and other central banks around the world are abolished, and governments brought back to their very limited roles instituted by Jesus Christ for this world.
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