Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means. In this article, I am going to share with you the primary reason why Barack Obama has been able to prop up the U.S. economy over the past eight years. If Barack Obama had not taken the extreme measures that he did, we would be in the midst of a historic economic depression right now. But by propping things up in the short-term, he has absolutely demolished our long-term economic future. But like most politicians, Obama has been willing to sacrifice the future for short-term political gain.
If you take any basic college course in economics, you are going to learn about John Maynard Keynes. Without a doubt, Keynes was one of the most famous economists of the 20th century, and one of the things that he believed was that governments should go into debt and spend more money when an economic downturn strikes. By injecting additional funds into the economy during a time of crisis, he believed that the severity of recessions and depressions could be reduced. This approach ultimately become known as “Keynesian economics”, and in the post-World War II era virtually the entire world embraced it at least to some degree. Here is more on Keynes from Investopedia…
An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed by the British economistJohn Maynard Keynes during the 1930s in an attempt to understand the Great Depression. Keynes advocated increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the Depression. Subsequently, the term “Keynesian economics” was used to refer to the concept that optimal economic performance could be achieved – and economic slumps prevented – by influencing aggregate demand through activist stabilization and economic intervention policies by the government. Keynesian economics is considered to be a “demand-side” theory that focuses on changes in the economy over the short run.
Keynesian economists correctly point out that there is a “multiplier effect” to government spending. In other words, when the government spends money it ends up in the hands of ordinary people. In turn, those people spend that money on various goods and services that they need, thus boosting overall economic activity. And the more the money circulates, the more the economy is stimulated. So one dollar of additional government spending does not just add one dollar to GDP. Rather, the impact on GDP is often significantly greater than that.
Of course the bad news is that whenever the government borrows money it is stealing consumption from the future. So we are literally destroying the future that our children and our grandchildren were supposed to have in order to make the present look a little bit brighter.
When Barack Obama entered the White House, the U.S. was in the midst of the worst financial crisis since the Great Depression. The Bush administration had already begun to ramp up spending, but Barack Obama took “government stimulus” to ridiculous new levels. The national debt has risen by an average of more than 1.1 trillion dollars a year while Obama has been in charge, and this fiscal year we are on pace to add more than 2 trillion dollars to the debt.
At this moment, the U.S. national debt is a whopping $19,901,545,151,126.51, and it will cross the 20 trillion dollar mark by the time Donald Trump is inaugurated on January 20th.
But when Barack Obama was inaugurated, the national debt was only 10.6 trillion dollars. That means that we have added about 9.3 trillion dollars to the debt since that time.
So we have borrowed and spent 9.3 trillion dollars under Obama that we did not have. But because of the “multiplier effect”, that 9.3 trillion dollars actually had a far greater impact on the U.S. economy.
Let’s be conservative and just double that number. So that would give us an 18.6 trillion dollar overall impact on U.S. economic activity. Spread over eight years, that comes to an average GDP impact of 2.325 trillion dollars a year.
But over the last eight years U.S. GDP has only been averaging about 16 trillion dollars a year. So if you took away 2.3 trillion dollars a year, that would be about one-eighth of our entire economy.
In other words, without all of this debt that Barack Obama and Congress have been getting us into, we would be in the worst economic depression in U.S. history right now.
And I haven’t even factored in state and local government debt, corporate debt or household debt. The truth is that I am not exaggerating one bit when I say that we are enjoying a debt-fueled standard of living that we simply do not deserve.
But even with all of this debt, the U.S. economy has still not been performing really well. In fact, Barack Obama is going to be the only president in U.S. history to not have a single year when U.S. GDP grew by at least three percent.
Donald Trump is talking about cutting taxes and reducing regulations, and all of those things are good, but ultimately those measures are not going to matter that much.
What is going to matter is what Donald Trump decides to do about our exploding debt.
If Donald Trump wants the U.S. economy to continue to remain at least somewhat stable in the short-term, he is going to have to keep piling up debt like Obama has. Because if Trump and the Republicans decide that they want to get our debt under control, that will plunge us into a horrifying economic depression almost immediately.
But if Donald Trump continues to steal money from future generations of Americans at the same pace that Barack Obama has been doing, he will literally be destroying the future of America. It will be a crime on a scale that is almost beyond words, and if they get a chance to do it, future generations of Americans will look back and curse him for what he has done to us.
So Donald Trump is really in a no-win situation when it comes to the economy.
The only way that he can match Obama’s performance is to do what Obama did, but by doing so he would literally be killing the future.
As a nation we have been consuming far more wealth than we produce for a very, very long time, and the only way that we have been able to do this is because we have been able to go into so much debt.
But now a day of reckoning is fast approaching, and I am not sure if Donald Trump even realizes that he will soon be faced with some incredibly heartbreaking choices.
A couple of weeks ago, it looked like Hillary Clinton was all set to cruise to victory, but now the FBI has delivered an election miracle in the nick of time. A few of my readers had criticized me for suggesting that Trump might lose, but I don’t know who is going to win the election, and so all I had to go on was the cold, hard numbers. And a couple of weeks ago the cold, hard numbers were telling me that Hillary Clinton was going to win. Of course it is entirely possible that the national polls might have been seriously wrong, but even the state polls in the most important battleground states consistently had bad news for Trump. So things didn’t look good for Trump at the time, but now that the FBI has renewed their investigation into Hillary Clinton’s emails the poll numbers have shifted dramatically in Trump’s favor.
As I write this article, the national polls have really tightened up. In fact, the latest ABC News/Washington Post tracking poll puts Trump 1 point ahead of Clinton. Trump has all of the momentum at the moment, but that does not mean that he is going to win. As we have seen already in this race, one day can literally change everything.
And as I noted yesterday, more than 23 million Americans have already voted, and most of that voting was done during a period of time when Hillary Clinton was doing very well in the polls.
So we shall see what happens. But if Trump does win on November 8th, there is a fact about his birthday which will start to get a lot of attention.
Donald Trump was born on June 14th, 1946. If you move ahead 70 years from that date, that brings you to June 14th, 2016. Moving forward another 7 months brings you to January 14th, 2017, and moving forward another 7 days brings you to January 21st, 2017.
And if Donald Trump wins the election, January 21st will be his first full day in office.
Of course Trump would be inaugurated on January 20th, but he would only be president for part of that day.
So that means that Donald Trump would be 70 years, 7 months and 7 days old on his first full day as president of the United States.
And this would happen during year 5777 on the Hebrew calendar.
These amazing “coincidences” were first pointed out on Facebook by a user named Alyson Kelly. Some may take these numbers as a sign that Donald Trump is supposed to become the next president, but I want to make it exceedingly clear that I do not know what is going to happen, nor am I making any sort of prediction about what is going to happen.
I just thought that this information was “interesting” and so I thought that I would share it.
Beck also says that if Clinton wins now it will be evidence that “magic exists”, and he is currently projecting that Trump should win the national vote by 5 points…
“Let’s just say he was 8 points, that was fair to say, 8 points behind last week,” Beck said, according to a transcript posted on his website. “He should win by 5 points.”
Beck later added: “How can the next president face a possible collapsing economy, possible war with Russia, and a current war with ISIS? Oh, and also, be under FBI investigation and indictment? Can’t. Can’t.”
The conservative personality called the latest FBI revelation “the greatest gift given to any candidate of all time in the history of America” and added that if Clinton still managed to win, it would be akin to proof “magic exists.”
Hopefully Glenn Beck is right, because none of us should want to see Hillary Clinton in the White House.
She is the most evil, corrupt and scandal-ridden politician of this generation, and I can’t understand how any American in their right mind could possibly vote for her.
It was not entirely clear what Podesta meant by that phrase, but it could potentially be smoking gun evidence of obstruction of justice.
Back in 2008, Barack Obama was new, intriguing and mysterious. We didn’t know a lot about him, and so one can almost understand how the American people could have been fooled by him.
But in 2016, Americans know more about Hillary Clinton than they have ever known about any candidate in modern American history.
The Clintons have a history of crimes and scandals that goes all the way back to the 1980s, but about half the country is choosing to ignore all of that history and vote for her anyway.
I believe that this election is America’s final exam. Originally there were 17 Republicans and 5 Democrats running for the presidency. When you throw in the major third party candidates, that brings us to a total of approximately 25 people that the American public could have chosen from.
If the American people willingly choose the most wicked candidate out of all of them after everything that has been revealed, I don’t think that anyone will be able to say that we don’t deserve the bitter consequences that follow that decision.
The time for talking is almost over, and shortly we shall find out which path the American people have chosen.
If that choice turns out to be Hillary Clinton after everything that we have seen during this election cycle, I truly believe that we will have reached the point of no return as a nation.
Donald Trump has all the momentum now. Will it be enough to propel him to victory on election day? Trump’s poll numbers were improving even before we learned that the FBI had renewed its investigation into Hillary Clinton’s emails, and the new survey results that came out over the weekend and on Monday make it clear that Clinton’s “certain victory” is not so certain after all. Unless something changes, Americans are going to go to the polls on November 8th with an FBI criminal investigation hanging over the Clinton campaign like an ominous cloud, and that is very good news for Trump.
The Clinton campaign was hoping that this renewed investigation would not “move the needle”, but unfortunately for them that appears not to be the case. Hillary’s unfavorable rating just hit an all-time high, a whopping 45 percent of all Americans believe that this scandal is “worse than Watergate”, and a Rasmussen survey has found that 40 percent of all undecided voters that are leaning toward voting for Hillary Clinton are still open to changing their minds before election day.
And even before this story broke on Friday, Clinton was having a difficult time getting her voters to the polls. According to the New York Times, early voting among young adults and African-American voters is significantly down compared to 2012, and those are demographic groups that Clinton desperately needs to turn out in large numbers.
But of course the key to winning the election is getting to 270 electoral votes, and poll numbers appear to be shifting in the key swing states that Trump and Clinton both desperately need. For a moment, I would like to examine what the numbers currently look like in some of the most important states…
Without Florida, Donald Trump has absolutely no chance of winning. This is something that even the Trump campaign has admitted. That is why it was so alarming that most of the polls in October had Hillary Clinton leading in the state.
Fortunately for Trump, a new survey that was conducted on Sunday shows him leading in Florida by four points.
Georgia wasn’t supposed to be a problem. Georgia has traditionally been a deep red state, but polling throughout this election season had shown a very tight race. This had Republicans deeply concerned and the Clinton camp very happy.
But now the momentum has seemingly shifted and the latest poll has Trump up by seven points.
Mitt Romney won North Carolina in 2012, and Donald Trump very much needs to win it if he hopes to be triumphant on November 8th. Hillary Clinton was shown to be leading in the eight most recent polls before the email story broke, but in the first major survey conducted afterwards she is now down by two points.
No Republican has ever won the presidency without Ohio, and Trump knows how important it is to his chances. The three most recent polls conducted before the FBI renewed the investigation into Hillary Clinton’s emails all showed a tie, but now the very first survey conducted afterwards shows Trump up by five points.
Hillary Clinton has consistently been in the lead in Colorado throughout this campaign, and most experts didn’t give Trump much of a chance in the state, but the latest survey shows that Clinton’s lead has been whittled down to just one point.
A survey that was conducted in mid-October showed Clinton having a five point lead in John McCain’s home state, but now the latest major poll has Trump up by two points.
One of the most important swing states out west is Nevada, and most surveys showed Hillary Clinton with a strong lead throughout the month of October. Unfortunately for her, a poll that was conducted on Sunday shows Donald Trump with a four point lead.
Clearly Trump has the momentum at this point, and it will be very interesting to see how the numbers change over the next few days.
And as we learn more about what is in these newly discovered emails, will her fellow Democrats stick with her? Already, some are publicly wavering. The following example comes from WND…
Longtime Clinton confidante and former Democratic pollster Doug Schoen told Fox News the newly renewed FBI investigation into Hillary Clinton’s private email server is forcing him to “reassess” his support for the Democratic nominee for president.
Schoen, a Fox News contributor, made the comments to host Harris Faulkner during a live television appearance Sunday night on “Fox Report Weekend.”
Public opinion is shifting quickly, but the bad news for Trump is that more than 23 million Americans have already voted. So millions upon millions of Americans cast their votes before they even learned of this new FBI investigation. If the race is very close, that could end up making the difference.
And of course the race could dramatically change once again if the FBI comes to some sort of resolution about these new emails prior to November 8th. On Monday, CNN reported that a resolution before election day did not appear to be likely…
FBI officials are unlikely to finish their review of new emails potentially related to its investigation into Hillary Clinton’s private server before the November 8 election.
The initial work of cataloging top Clinton aide Huma Abedin’s emails found on her estranged husband Anthony Weiner’s laptop could be done in the next few days, US law enforcement officials told CNN.
But the investigators are expected to spend more time doing other work, including likely working with other federal agencies to determine what — if any — classified materials are in the emails. This makes it unlikely there will be a resolution prior to the election.
However, late on Monday evening the Drudge Report reported that the L.A. Times has learned that investigators may have a “preliminary assessment” completed “in coming days”…
LA TIMES TUESDAY: FBI Investigators had planned to conduct new email review over several weeks. It now hopes to complete ‘preliminary assessment’ in coming days, but agency officials have not decided how, or whether, they will disclose results publicly… Developing…
Whether good or bad, I do believe that the American people deserve to hear something conclusive about these emails before November 8th.
If nothing is found to implicate Clinton, the American people should be told that.
And if evidence of very serious crimes is discovered, there is no way in the world that should be held back until after the election.
In the world of politics, the cover-up is often worse than the original crime. It was his role in the Watergate cover-up that took down Richard Nixon, and now Hillary Clinton’s cover-up of her email scandal could send her to prison for a very, very long time. When news broke that the FBI has renewed its investigation into Hillary Clinton’s emails, it sent shockwaves throughout the political world. But this time around, we aren’t just talking about an investigation into the mishandling of classified documents. I haven’t heard anyone talking about this, but if the FBI discovers that Hillary Clinton altered, destroyed or concealed any emails that should have been turned over to the FBI during the original investigation, she could be charged with obstruction of justice. That would immediately end her political career, and if she was found guilty it could send her to prison for the rest of her life.
I have not seen a single news report mention the phrase “obstruction of justice” yet, but I am convinced that there is a very good chance that this is where this scandal is heading. The following is the relevant part of the federal statute that deals with obstruction of justice…
Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsified, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under Title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both.
If Hillary Clinton is sent to prison for 20 years, that would essentially be for the rest of her life.
I have a feeling that the FBI is going to find a great deal of evidence of obstruction of justice in Huma Abedin’s emails. But unfortunately there is not likely to be a resolution to this matter before November 8th, because according to the Wall Street Journal there are approximately 650,000 emails to search through…
As federal agents prepare to scour roughly 650,000 emails to see how many relate to a prior probe of Hillary Clinton’s email use, the surprise disclosure that investigators were pursuing the potential new evidence lays bare building tensions inside the bureau and the Justice Department over how to investigate the Democratic presidential nominee.
Metadata found on the laptop used by former Rep. Anthony Weiner and his estranged wife Huma Abedin, a close Clinton aide, suggests there may be thousands of emails sent to or from the private server that Mrs. Clinton used while she was secretary of state, according to people familiar with the matter. It will take weeks, at a minimum, to determine whether those messages are work-related from the time Ms. Abedin served with Mrs. Clinton at the State Department; how many are duplicates of emails already reviewed by the Federal Bureau of Investigation; and whether they include either classified information or important new evidence in the Clinton email probe.
Of those 650,000 emails, an inside source told Fox News that “at least 10,000” would be of interest to the investigation.
At this point, FBI officials have not even begun searching through the emails, because a search warrant has not been secured yet. The following comes from CNN…
Government lawyers haven’t yet approached Abedin’s lawyers to seek an agreement to conduct the search. Sources earlier told CNN that those discussions had begun, but the law enforcement officials now say they have not.
Either way, government lawyers plan to seek a search warrant from a judge to conduct the search of the computer, the law enforcement officials said.
But the FBI is reportedly already searching a laptop that was co-owned by Anthony Weiner and Huma Abedin, and no warrant was necessary for that search because Weiner is cooperating with the FBI.
Many have been wondering why FBI Director James Comey would choose to make such a bold move just over a week until election day. Surely he had to know that this would have a dramatic impact on the election, and it is unlikely that he would have done so unless someone had already found something really big. In addition, Comey was reportedly eager to find an opportunity to redeem himself in the eyes of his peers at the FBI. The following is an excerpt from a Daily Mail article that was written by Ed Klein, the author of a recently released New York Times bestseller about the Clintons entitled “Guilty As Sin“…
‘The atmosphere at the FBI has been toxic ever since Jim announced last July that he wouldn’t recommend an indictment against Hillary,’ said the source, a close friend who has known Comey for nearly two decades, shares family outings with him, and accompanies him to Catholic mass every week.
‘Some people, including department heads, stopped talking to Jim, and even ignored his greetings when they passed him in the hall,’ said the source. ‘They felt that he betrayed them and brought disgrace on the bureau by letting Hillary off with a slap on the wrist.’
According to the source, Comey fretted over the problem for months and discussed it at great length with his wife, Patrice.
He told his wife that he was depressed by the stack of resignation letters piling up on his desk from disaffected agents. The letters reminded him every day that morale in the FBI had hit rock bottom.
So what happens next?
In the most likely scenario, the FBI will not have time to complete the investigation and decide whether or not to charge Hillary Clinton before the election. This means that we would go into November 8th with this scandal hanging over the Clinton campaign, and that would seem to be very good news for Donald Trump.
However, it is possible that once the FBI starts searching through these emails that they could come to the conclusion very rapidly that charges against Clinton are warranted, and if that happens we could still see some sort of announcement before election day.
In the unlikely event that does happen, we could actually see Hillary Clinton forced out of the race before November 8th.
Once again, this appears to be very unlikely at this point, but it is still possible.
If Clinton was forced to step aside, the Democrats would need to come up with a new nominee, and that process would take time. In an article later today on The Most Important News I will reveal who I believe that nominee would be.
In such a scenario, the Democrats would desperately need time to get their act together, and so we could actually see Barack Obama attempt to delay or suspend the election. The legality of such a move is highly questionable, but Barack Obama has not allowed a little thing like the U.S. Constitution to stop him in the past.
This week is going to be exceedingly interesting – that is for sure.
The craziest election in modern American history just keeps getting crazier, and I have a feeling that even more twists and turns are ahead.
It sure seems ironic that Anthony Weiner is playing such a central role this late in the story, and I can’t wait to see what is in store for the season finale.
Just when it looked like Hillary Clinton was poised to win the 2016 election, the FBI has thrown a gamechanger into the mix. On Friday, FBI Director James Comey announced that his agency has discovered new emails related to Hillary Clinton’s mishandling of classified information that they had not previously seen. According to the Associated Press, the newly discovered emails “did not come from her private server”, but instead were found when the FBI started going through electronic devices that belonged to top Clinton aide Huma Abedin and her husband Anthony Weiner. The FBI has been looking into messages of a sexual nature that Weiner had exchanged with a 15-year-old girl in North Carolina, and that is why they originally seized those electronic devices. According to the Washington Post, the “emails were found on a computer used jointly by both Weiner and his wife, top Clinton aide Huma Abedin, according to a person with knowledge of the inquiry”, and according to some reports there may be “potentially thousands” of emails on the computer that the FBI did not have access to previously. Even though there are less than two weeks to go until election day, this scandal has the potential to possibly force Clinton out of the race, and if that happens could Barack Obama delay or suspend the election until a replacement candidate can be found?
Let’s take this one step at a time. On Friday, financial markets tanked when reports of these new Clinton emails hit the wires. The following comes from CNN…
After recommending earlier this year that the Department of Justice not press charges against the former secretary of state, Comey said in a letter to eight congressional committee chairmen that investigators are examining newly discovered emails that “appear to be pertinent” to the email probe.
“In connection with an unrelated case, the FBI has learned of the existence of emails that appear pertinent to the investigation,” Comey wrote the chairmen. “I am writing to inform you that the investigative team briefed me on this yesterday, and I agreed that the FBI should take appropriate investigative steps designed to allow investigators to review these emails to determine whether they contain classified information, as well as to assess their importance to our investigation.”
At this point, we do not know what is contained in these emails. But without a doubt Huma Abedin is Hillary Clinton’s closest confidant, and I have always felt that she was Clinton’s Achilles heel. Journalist Carl Bernstein (of Watergate fame) is fully convinced that the FBI would have never made this move unless something significant had already been discovered…
We don’t know what this means yet except that it’s a real bombshell. And it is unthinkable that the Director of the FBI would take this action lightly, that he would put this letter forth to the Congress of the United States saying there is more information out there about classified e-mails and call it to the attention of congress unless it was something requiring serious investigation. So that’s where we are…
Is it a certainty that we won’t learn before the election? I’m not sure it’s a certainty we won’t learn before the election.
One thing is, it’s possible that Hillary Clinton might want to on her own initiative talk to the FBI and find out what she can, and if she chooses to let the American people know what she thinks or knows is going on. People need to hear from her…
If the FBI has indeed found something explosive, would they actually charge her with a crime right before the election?
It is possible, but we also have to remember that government agencies (including the FBI) tend to move very, very slowly. If there are thousands of emails, it is going to take quite a while to sift through them all. And of course Barack Obama has lots of ways that he could influence, delay or even shut down the investigation.
But if Hillary Clinton were to be forced out of the race by this FBI investigation, the Democrats would have to decide on a new candidate, and that would take time. The following is from a U.S. News & World Report article that examined what would happen if one of the candidates was forced out of the race for some reason…
If Clinton were to fall off the ticket, Democratic National Committee members would gather to vote on a replacement. DNC members acted as superdelegates during this year’s primary and overwhelmingly backed Clinton over boat-rocking socialist Sen. Bernie Sanders of Vermont.
DNC spokesman Mark Paustenbach says there currently are 445 committee members – a number that changes over time and is guided by the group’s bylaws, which give membership to specific officeholders and party leaders and hold 200 spots for selection by states, along with an optional 75 slots DNC members can choose to fill.
But the party rules for replacing a presidential nominee merely specify that a majority of members must be present at a special meeting called by the committee chairman. The meeting would follow procedures set by the DNC Rules and Bylaws Committee and proxy voting would not be allowed.
It would be extremely challenging to get a majority of the members of the Democratic National Committee together on such short notice. If Clinton were to drop out next week, it would be almost impossible for this to happen before election day.
In such a scenario, Barack Obama may attempt to invoke his emergency powers. Since the election would not be “fair” until the Democrats have a new candidate, he could try to delay or suspend the election. There would be a lot of controversy as to whether this is legal or not, but Barack Obama has not let the U.S. Constitution stop him in the past.
Meanwhile, new poll numbers show that the Trump campaign was already gaining momentum even before this story about the new emails broke. According to a brand new ABC News/Washington Post survey, Donald Trump is now only trailing Hillary Clinton by 4 points after trailing her by as much as 12 points last weekend.
And CNBC is reporting on a highly advanced artificial intelligence system that accurately predicted the outcomes of the presidential primaries and which is now indicating that Trump will be the winner in November…
An artificial intelligence system that correctly predicted the last three U.S. presidential elections puts Republican nominee Donald Trump ahead of Democrat rival Hillary Clinton in the race for the White House.
MogIA was developed by Sanjiv Rai, founder of Indian start-up Genic.ai. It takes in 20 million data points from public platforms including Google, Facebook, Twitter and YouTube in the U.S. and then analyzes the information to create predictions.
The AI system was created in 2004, so it has been getting smarter all the time. It had already correctly predicted the results of the Democratic and Republican Primaries.
Without Hillary at the top of the ticket, the odds of a Trump victory would go way, way up.
So if Hillary is forced out of the race by this investigation, Barack Obama and the Democrats will want to delay or suspend the election for as long as possible if they can.
At this point there is probably not a high probability that such a scenario will play out, but in this crazy election year we have already seen that just about anything can happen.
It sure seems like an odd time to be provoking a war with Russia. As I write this, we stand just a little bit more than three weeks away from one of the most pivotal elections in U.S. history, and Barack Obama has chosen this moment to strongly threaten the Russians. As I wrote about on Friday, Reuters is reporting that Obama is contemplating “direct U.S. military action” against Syrian military targets, and the Russians have already indicated that any assault on Syrian forces would be considered an attack on themselves. The rapidly deteriorating crisis in Syria has already caused tensions with Russia to rise to the highest level since the end of the Cold War, but now Obama is adding fuel to the fire by publicly considering “an unprecedented cyber covert action against Russia”. Apparently Obama believes that Russian hackers are interfering in the election and so he wants payback. The following comes from an NBC News article entitled “CIA Prepping for Possible Cyber Strike Against Russia“…
The Obama administration is contemplating an unprecedented cyber covert action against Russia in retaliation for alleged Russian interference in the American presidential election, U.S. intelligence officials told NBC News.
Current and former officials with direct knowledge of the situation say the CIA has been asked to deliver options to the White House for a wide-ranging “clandestine” cyber operation designed to harass and “embarrass” the Kremlin leadership.
The sources did not elaborate on the exact measures the CIA was considering, but said the agency had already begun opening cyber doors, selecting targets and making other preparations for an operation.
Somebody should tell Obama that he is not playing a video game. A cyber attack is considered to be an act of war, and the Russians would inevitably retaliate. And considering how exceedingly vulnerable our cyber infrastructure is, I don’t know if that is something that we want to invite.
On Friday, Vice President Joe Biden met “Meet the Press” host Chuck Todd for an interview that has raised serious concern in Russia.
Without bothering to question the authenticity of the claims, Todd took the allegations of Russian hacking at face value, opening his interview with a loaded question: “Why haven’t we sent a message yet to Putin?”
After a moment of stunned silence, Biden responded, “We’re sending a message. We have the capacity to do it and it will be at the time of our choosing, and under the circumstances that will have the greatest impact.”
When Todd asked if the public will know a message was sent, Biden replied, “Hope not.”
The Russians firmly deny that they had any involvement in the hacking, and so far the Obama administration has not publicly produced any firm evidence that the Russians were behind it.
Perhaps the Obama administration privately has some evidence, but at this point they have not shown that evidence to the American public.
So for Joe Biden to be making these sorts of threats is a very dangerous thing. The Russians are taking these threats very seriously, and they are preparing to protect their interests…
‘The threats directed against Moscow and our state’s leadership are unprecedented because they are voiced at the level of the US vice president.
‘To the backdrop of this aggressive, unpredictable line, we must take measures to protect (our) interests, to hedge risks,’ a Kremlin spokesman said, according to RIA Novosti news agency.
Here in the United States, most people don’t even realize that we could be on the verge of a major conflict with Russia.
But over in Russia things are completely different. Talk of war is everywhere, and the potential for war is the number one topic in the Russian media right now. Just check out some of the recent Russian media headlines about the conflict between our two nations…
Ash Carter has threatened Russia with “consequences”. After blowing up the ceasefire, the Pentagon – supported by the Joint Chiefs of Staff — now is peddling “potential strikes” on Syria’s air force to “punish the regime” for what the Pentagon actually did; blow up the ceasefire. One can’t make this stuff up.
Major-General Igor Konashenkov, Russia’s Defense Ministry spokesman, sent a swift message to “our colleagues in Washington”; think twice if you believe you can get away with launching a “shadow” hot war against Russia. Russia will target any stealth/unidentified aircraft attacking Syrian government targets – and they will be shot down.
The only serious question then is whether an out of control Pentagon will force the Russian Air Force – false flag and otherwise — to knock out US Air Force fighter jets, and whether Moscow has the fire power to take out each and every one of them.
I discussed the potential for war with Russia in my latest video. Hopefully cooler heads will prevail and war with Russia will be put off…
But without a doubt the crisis in Syria is not going to be resolved any time soon because it is one giant mess. Most people don’t realize that the Syrian civil war has essentially been a proxy war between Sunni Islam and Shia Islam from the very beginning. Jihadist rebels that are being armed and funded by Saudi Arabia and Turkey are fighting Hezbollah troops that are being armed and funded by Iran. And now Turkish forces have invaded northern Syria, and this threatens to cause a full-blown war to erupt between Turkey and the Syrian Kurds. Of course ISIS is right in the middle of everything causing havoc, blowing stuff up and beheading anyone that doesn’t believe in their radical version of Sunni Islam.
It is absolutely insane that the United States and Russia could potentially go to war because of this conflict. Both sides are determined to show the other how tough they are, and one false move could set off a spiral of events from which they may be no recovery.
The American people very foolishly elected Barack Obama twice, but up until now the consequences have not been quite as dire as many had been projecting.
However, right here at the end of his second term Obama is facing a moment of truth. If he ends up dragging us into a war with Russia, the American people will ultimately bitterly regret putting him into the White House.
Can Donald Trump turn the U.S. economy around? This week Trump unveiled details of his new economic plan, and the mainstream media is having a field day criticizing it. But the truth is that we simply cannot afford to stay on the same path that Barack Obama, Hillary Clinton and the Democrats have us on right now. Millions of jobs are being shipped out of the country, the middle class is dying, poverty is exploding, millions of children in America don’t have enough food, and our reckless spending has created the biggest debt bubble in the history of the planet. Something must be done or else we will continue to steamroll toward economic oblivion. So is Donald Trump the man for the hour?
If you would like to read his full economic plan, you can find it on his official campaign website. His plan starts off by pointing out that this has been the weakest “economic recovery” since the Great Depression…
Last week’s GDP report showed that the economy grew a mere 1.2% in the second quarter and 1.2% over the last year. It’s the weakest recovery since the Great Depression – the predictable consequence of massive taxation, regulation, one-side trade deals and onerous energy restrictions.
And Trump is exactly right about how weak this economic recovery has been.
So how would he fix things?
The following are 10 things that every American should know about Donald Trump’s plan to save the U.S. economy…
#1 Donald Trump would lower taxes on the middle class
The tax savings under Trump’s plan would actually be quite substantial for middle class families. The following numbers come from a recent Charisma article…
• A married couple earning $50,000 per year with two children and $8,000 in child care expenses will save 35% from their current tax bill.
• A married couple earning $75,000 per year with two children and $10,000 in child care expenses will receive a 30% reduction in their tax bill.
• Married couple earning $5 million per year with two children and $12,000 in child care expenses will get only a 3% reduction in their tax bill.
#2 Donald Trump would lower taxes on businesses
Under his plan, no business in America would be taxed more than 15 percent. Alternatively, Hillary Clinton’s plan would tax some small businesses at a rate of close to 50 percent. So Trump’s plan would undoubtedly be good for businesses, and it would encourage many that have left the country to return.
But where would the lost tax revenue be made up?
#3 Childcare expenses would be exempt from taxation
For working families with children this would be a great blessing. Without a doubt this is an effort to win over more working women, and this is a demographic that Trump has been struggling with.
It is definitely an idea that I support, but once again where will the money come from to pay for this?
#4 U.S. manufacturers will be allowed to immediately fully expense new plants and equipment
This would undoubtedly lead to a boom in capital investment, but it would also reduce tax revenue. As an emergency measure this would be very good for encouraging manufacturers to stay in America, but it would also likely increase the budget deficit.
#5 A temporary freeze on new regulations
Red tape is one of my big pet peeves, and so I greatly applaud Trump for this proposal. I think that Bob Eschliman put it very well when he wrote the following about Trump’s planned freeze on new regulations…
In 2015 alone, federal agencies issued over 3,300 final rules and regulations, up from 2,400 the prior year. Studies show that small manufacturers face more than three times the burden of the average U.S. business, and the hidden tax from ineffective regulations amounts to “nearly $15,000 per U.S. household” annually. Excessive regulation is costing our country as much as $2 trillion dollars per year, and Trump will end it.
#6 All existing regulations would be reviewed and unnecessary regulations would be eliminated
In particular, Trump’s plan would focus on getting rid of regulations that inhibit hiring. The following are some of the specific areas that he identifies on his official campaign website…
The Environmental Protection Agency’s Clean Power Plan, which forces investment in renewable energy at the expense of coal and natural gas, raising electricity rates;
The EPA’s Waters of the United States rule, which gives the EPA the ability to regulate the smallest streams on private land, limiting land use; and
The Department of Interior’s moratorium on coal mining permits, which put tens of thousands of coal miners out of work.
#7 Donald Trump would fundamentally alter our trade relationships with the rest of the globe
Donald Trump is the first major party nominee in decades to recognize that our trade deficit is absolutely killing our economy. I write about this all the time, and it is a hot button issue for me. So I definitely applaud Trump for proposing the following…
Appoint trade negotiators whose goal will be to win for America: narrowing our trade deficit, increasing domestic production, and getting a fair deal for our workers.
Withdraw from the TPP.
Bring trade relief cases to the world trade organization.
Label China a currency manipulator.
Apply tariffs and duties to countries that cheat.
Direct the Commerce Department to use all legal tools to respond to trade violations.
#8 Donald Trump’s plan would be a tremendous boost for the U.S. energy industry
Barack Obama promised to kill the coal industry, and that is one of the few promises that he has actually kept. Obama also killed the Keystone Pipeline, and right now the energy industry as a whole is enduring their worst stretch since the last recession. To turn things around, Trump would do the following…
Rescind all the job-destroying Obama executive actions including the Climate Action Plan and the Waters of the U.S. rule.
Save the coal industry and other industries threatened by Hillary Clinton’s extremist agenda.
Ask Trans Canada to renew its permit application for the Keystone Pipeline.
Make land in the Outer Continental Shelf available to produce oil and natural gas.
Cancel the Paris Climate Agreement (limit global warming to 2 degrees Celsius) and stop all payments of U.S. tax dollars to U.N. global warming programs.
Not only that, but Obamacare has also sent health insurance premiums soaring, and this is putting a tremendous amount of financial pressure on many families.
Trump says that he would “replace” Obamacare, but that is a rather vague statement.
What exactly would he replace it with?
#10 Trump’s plan says nothing about the Federal Reserve
This is a great concern, because the Federal Reserve has far more power over the economy than anyone else does. It is at the very heart of our debt-based system, and unless something is done about the Fed our debt bubble will continue to get even larger.
Since the Federal Reserve was created in 1913, the value of the U.S. dollar has fallen by more than 96 percent and our national debt has gotten more than 5000 times larger. For Trump to not even mention the Federal Reserve in his economic plan is a tremendous oversight.
We are in the midst of a long-term economic decline, and things have not gotten better during the Obama years. If you can believe it, a study that was just released by Harvard even acknowledges this…
America’s economic performance peaked in the late 1990s, and erosion in crucial economic indicators such as the rate of economic growth, productivity growth, job growth, and investment began well before the Great Recession.
Workforce participation, the proportion of Americans in the productive workforce, peaked in 1997. With fewer working-age men and women in the workforce, per-capita income for the U.S. is reduced.
Median real household income has declined since 1999, with incomes stagnating across virtually all income levels. Despite a welcome jump in 2015, median household income remains below the peak attained in 1999, 17 years ago. Moreover, stagnating income and limited job prospects have disproportionately affected lower-income and lower-skilled Americans, leading inequality to rise.
That same study found that the percentage of Americans participating in the labor force peaked back in 1997 and has been steadily declining since that time…
If we continue to do the same things, we will continue to get the same results.
Donald Trump is promising change, and many of his proposals sound good, but there are also some areas to be concerned about.
Ultimately, just tinkering with the tax code and reducing regulations is not going to be enough to turn the U.S. economy around. We need a fundamental overhaul of our economic and financial systems, and Trump’s plan stops well short of that. But without a doubt what he is proposing is vastly superior to Hillary Clinton’s plan, and so he should definitely be applauded for at least moving in the right direction.
We just got another extremely disappointing GDP number. It was being projected that U.S. GDP would grow by 2.5 percent during the second quarter of 2016, but instead it only grew by just 1.2 percent. In addition, the Census Bureau announced that GDP growth for the first quarter of 2016 had been revised down from 1.1 percent to 0.8 percent. What this means is that the U.S. economy is just barely hanging on by its fingernails from falling into a recession. As Zero Hedge has pointed out, the “average annual growth rate during the current business cycle remains the weakest of any expansion since at least 1949″. This is not what a recovery looks like.
In addition, Barack Obama remains solidly on track to be the only president in all of U.S. history to never have a single year when the economy grew by at least 3 percent. Every other president in American history, even the really bad ones, had at least one year when U.S. GDP grew by at least 3 percent. But this has not happened under Obama even though he has had two terms in the White House.
And many are anticipating that this latest extremely disappointing GDP number will discourage the Federal Reserve from raising interest rates any time in the near future…
The disappointing report could keep the Federal Reserve on hold longer as it considers another interest rate hike. The Fed lifted its key rate in December for the first time in nine years but has held it steady since.
According to the pundits in the mainstream media, this was supposed to be the year when the U.S. economy finally returned to “normal”, but that has not happened at all. In fact, in recent days we have gotten a spate of bad news about the economy. We just learned that the homeownership rate in the United States has hit the lowest level ever, and Gallup’s U.S. economic confidence index has fallen to the lowest level so far this year.
With the election coming up rapidly, this is the kind of news that Hillary Clinton definitely does not need. She needs to be able to sell the American people on the idea that the Obama years have been very good for the U.S. economy. If things take a sharp turn down in the coming months, that may be enough to cost her the election.
So far, Hillary Clinton’s economic agenda has not received that much scrutiny, but the truth is that she hopes to increase taxes in a whole bunch of ways which would be very harmful for the economy. The following comes from an excellent piece by John Kartch and Alexander Hendrie…
Hillary has endorsed several tax increases on middle income Americans, despite her pledge not to raise taxes on any American making less than $250,000. She has said she would be fine with a payroll tax hike on all Americans, she has endorsed a steep soda tax, endorsed a 25% national gun tax, and most recently, her campaign manager John Podesta said she would be open to a carbon tax. It’s no wonder that when asked by ABC’s George Stephanopoulos if her pledge was a “rock-solid” promise, she slipped and said the pledge was merely a “goal.” In other words, she’s going to raise taxes on middle income Americans.
Hillary’s formally proposed $1 trillion net tax increase consists of the following:
Income Tax Increase – $350 Billion: Clinton hasproposed a $350 billion income tax hike in the form of a 28 percent cap on itemized deductions.
Business Tax Increase — $275 Billion: Clinton has called for a tax hike of at least $275 billion through undefined business tax reform, as described in a Clinton campaigndocument.
“Fairness” Tax Increase —$400 Billion: According to her published plan, Clinton has called for a tax increase of “between $400 and $500 billion” by “restoring basic fairness to our tax code.” These proposals include a “fair share surcharge,” the taxing of carried interest capital gains as ordinary income, and a hike in the Death Tax.
Taxes tend to be a pet peeve of mine, so looking at that list of proposed taxes definitely makes me cringe.
If Donald Trump wants to hit the Democrats really hard on the economy, all he has to do is point out the fact that Barack Obama is going to be the only president in American history to never see 3 percent economic growth for an entire year, and he had two entire terms in which to try to turn things in a positive direction.
Sadly, things are very likely going to be worse for the economy no matter who wins the election. Under Obama, our national debt, our trade deficit, and most of our other long-term economic problems have gotten much, much worse, and so the table is set for a major economic disaster during the next presidential administration.
And if what I have to share about the future of America in my new book is correct, we are definitely moving into a “perfect storm” that will not just be economic in nature. The things that are coming are going to shake this nation to the very core, and I believe that we will soon face the consequences for decades of exceedingly foolish decisions.
So in the end, we may look back and long for the days of 1.2 percent economic growth, because what is on the horizon is going to make that look like a Sunday picnic.
When Barack Obama speaks to the public, it is very rare that he does so without a specific purpose in mind. So why is he urging Americans “to be prepared for a disaster” all of a sudden? On May 31, Obama took time out of his extremely busy schedule to deliver an address at the FEMA National Response Coordination Center in Washington. During his speech, he stressed that every American is responsible for preparing for disasters, and that includes “having an evacuation plan” and “having a fully stocked disaster supply kit”. These are basic steps that I have been encouraging people to do for years, but if they won’t listen to me, perhaps they will listen to the man currently residing in the White House. The following excerpt from Obama’s speech comes directly from the official White House website…
One of the things that we have learned over the course of the last seven and a half years is that government plays a vital role, but it is every citizen’s responsibility to be prepared for a disaster. And that means taking proactive steps, like having an evacuation plan, having a fully stocked disaster supply kit. If your local authorities ask you to evacuate, you have to do it. Don’t wait.
This speech was timed to coincide with the beginning of the hurricane season, although hurricanes have not posed much of a threat lately.
In fact, a major hurricane has not made landfall in the United States for 127 straight months.
But without a doubt, we all need to be preparing for disaster. Hurricanes can create a short-term emergency that can last for a few days, but there are other threats that could create a major emergency that could potentially last for an extended period of time. That list of potential threats includes a major volcanic eruption, a natural or engineered pandemic, a west coast earthquake, a New Madrid earthquake, a tsunami on either the east or west coasts, a meteor impact, Islamic terror, war, an EMP burst that takes down the power grid, cyberwarfare, economic collapse, and civil unrest resulting in the imposition of martial law.
Of course the items that I just mentioned are not mutually exclusive. In fact, in different scenarios we could actually see multiple events happen in rapid succession.
It is interesting to note that during his speech Barack Obama also noted that the American people seem to have become very complacent about getting prepared…
And what we’ve been seeing is some public complacency slipping in; a large portion of people not having preparedness kits, not having evacuation plans.
This is exactly what I have been noticing as well. There appears to be a tremendous amount of apathy out there, and relatively few people really seem to feel much urgency to get prepared these days.
My contacts in the emergency preparedness industry have been telling me that sales are way down right now. There was a big peak last fall, but since then it is like interest in prepping has just fallen off the map.
Ultimately, those companies are going to be okay because interest will pick back up shortly as global events begin to spiral completely out of control. However, of much greater concern is the fact that people have not been using this period of relative calm constructively.
Just like we have seen in Venezuela, time to prepare eventually runs out. And someday there will be millions of parents that are absolutely horrified when their children come to them crying out for food and they don’t have anything to give to them because they didn’t heed the warnings and they didn’t get prepared.
When that day arrives, many of those families may be forced to turn to whatever help the government is offering at the time.
One more thing that I found particularly noteworthy about Obama’s speech was that he said that there is now “a FEMA app” that can direct you to the nearest “FEMA shelter” in the event of a major emergency.
If you need information about how to put together an evacuation plan, how to put together a disaster preparedness kit, as Craig said, we’ve got an app for everything now. We have a FEMA app in English and in Spanish to help you prepare your family for a disaster. You can update the National Weather Service alerts. You can get safety tips for more than 20 kinds of hazards. It provides you directions to nearby shelters.
Could you envision yourself and your family having to take refuge in a “FEMA shelter” someday?
If not, you should do what you can to get prepared now. Over the next couple of days, my wife and I will be releasing a couple of new videos about preparation on our YouTube channel. In fact, I just checked and the first one is already up…
Unlike Venezuela, it looks like we may still have a little bit more time to prepare for what is ahead. Some people will relax and use this time to party, but those that are wise will work diligently and will do what they can to get ready for the exceedingly challenging times that are rapidly approaching.
Hopefully you are listening to the warnings and are heeding what the watchmen are saying.
If not, the consequences for what will happen to you and your family will ultimately be on your own hands.
*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*