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We don’t really have to January 2, 2013 to go off the fiscal cliff. It’s December 4, 2012 and congress goes on Christmas vacation Friday December 14th 2012 and they don’t come back till after we fall off the cliff. Taxmageddon will show up in the stock markets and will come well before January 1, 2013. If no deal is done before that date of Friday December 14th 2012. (There won’t be any deal) The stock market will show the results prior to the date not afterwards. If you have a 401-k or any other investment in stocks or bonds brace yourself for heavy losses.

This is a warning on Friday December 14th or in just 10 days all stock markets will start a rapid decline worldwide and this will continue into Monday the 17th and all the way to Friday the 21st December 2012 if no deal is done. The republicans will stay in Washington but the democrat controlled Senate will be ordered shut down by Harry read and the correction or crash will take place. The democrats will blame the republicans as that is what they are already doing even before there’s anything to blame anyone for. What will the blame game be like after markets crash? Friday December 14 is the normal scheduled Christmas break for congress.

The real cliff comes from a market reaction to the lack of any deal that stops America’s economy from a $600 billion shock. That shock comes from the shift in taxes and spending equal to a 4% negative to GDP and the biggest losses will not be the taxes themselves but the market’s reaction to those tax increases could cost trillions of dollars in lost stock values.

If the stock market’s losses are 2000 points on the DJIA for example in dollars it is equal to $2 trillion in lost stock values. This is the true result of Taxmageddon if congress allows us to go off the Cliff. It has been said for every 1000 points lost on the DJIA is approximately $1 trillion is lost in stock values across all U.S. markets.

Currently Republicans have no options to avoid the fiscal Clift or taxmageddon that will not destroy the economy and all the choices that democrats will allow to pass the senate will force a recession. All the options are really bad and the only one that will work for just a little while is keep everything the way it is and extend the current tax rates, but Obama has said and he insists he will not except that outcome of kicking the can down the road. If anyone is holding the middle class hostage it is Obama not the republicans in the house. Obama wants a grand bargain for which there is no good economic out come for anything he wants, what Obama wants will cost millions of jobs. That’s not an option Republicans can agree to.

Obama has proven over the last 4 years he understands nothing about economics, business or how jobs are created. It needs to be said Obama’s an idiot to top all idiots; he is the king of fools and will lead America to its complete economic destruction in the next few weeks. Obama’s winning of the election doesn’t prove his genius; it just proves how stupid the American people have become, all because of Obama phones that cheaply bought votes with tax payer’s money. (That is if he really won? As I believe the election was a complete fraud)

http://gulagbound.com/35972/nationwide-white-votes-down-by-16m-smell-like-election-tampering/#.UKEgkmfNPFw

Obama says he will only accept a full 4.9% tax increase to the wealthiest tax payers and they are the job creators. That’s not a bumper sticker slogan anymore or a political talking point, it is just the facts. By the numbers it can be proven true that what Obama is demanding will certainly put us in a recession according to the congressional budget office = CBO. Let’s look at what faces the American people in the next few weeks and what the democrats have done in the past 6 years of the control of congress since January 2007. The American people have been setup with this no win scenario that we now have and democrats will be able to blame it all on the republicans no matter what republicans do because democrats control 85% of what is so-called the main stream media.

If congress does nothing we get the full force of the fiscal Clift which is a $600 billion shift in taxes and spending cuts. The media has been talking about this fiscal Clift but no one clearly explains exactly what that means. I don’t think any of media types are smart enough to see what it is or what it truly means for the economy, but I will attempt to explain it here. It’s not a matter of speculation it’s just really simple math and understanding economics.

If Republicans do what Obama and the liberal progressive democrats wants here is what the congressional budget office said about a deal republicans offered to raise taxes on the wealthy in the budget act of 2011 debt ceiling increase that threaten to shut down parts of government.

The CBO scored the proposal the republicans offered in 2011 that would raise taxes on the wealthy by roughly $80 Billion. The result was a recession and negative GDP growth of .5% or ½ %. They also said it would force 700,000 private sector jobs to be lost and by the end of 2013 push the unemployment rate from the current rate up to 9.1%. Again this was in 2011 and now Obama and the democrats want double or two times that much to $160 Billion in higher taxes from the job creators or the wealthy and that means twice the job losses to 1.4 million and twice the negative GDP growth -1%. This is what Obama wants; this is his so-called grand bargain. Only a complete idiot would think that’s a good idea, but that’s just Obama.

This doubling of higher taxes to the wealthy tax payers is the option that Obama is giving the republicans and this is not an option republicans can except, but it is insanity to ask for a tax increase that will force 1.4 million jobs to be lost to the middle class then lie about wanting to protect the middle class and force a recession in an already very weak economy that will loss 1.4 million jobs in the middle class. (Twisted logic) The only ones here protecting the middle class is the republicans not Obama.

How can the republicans agree to such an insane proposal when Republicans know it will cost so many jobs in the middle class and force us into a recession at the cost 1.4 million middle class jobs? They cannot. What sane person would vote for that? No sane person would vote for Obama’s so-called grand bargain and it’s not a deal of any acceptable kind. This whole Obama so-called deal is like trying to make a bargain with a terrorist who wants to kill you.

The Republicans have offered some concessions to higher taxes on the wealthy in recent discussions, but not the $80 billion and certainly not the $160 billion as the economy is weaker now then in early 2011 and any sizeable tax increase would not be good for the economy. There is no such thing as a grand bargain in what Obama is asking for; it’s more like a grand screwing to the American worker. Republicans are being asked to accept our grand economic destruction and the complete collapse of America’s economy into a deep recession or will it be a depression?

Taxes on the wealthy doesn’t include the automatic spending cuts from The Budget Control Act of 2011 said to be about $150 billion more that comes out of the economy and will have an additional negative effect on the economy. Obama is not trying to fix our fiscal issues and problems; Obama is trying to destroy the Republican Party and America along with it. I am all for spending cuts we need to shrink the spending of the federal government but not this way, not while taxing the crap out of everyone and forcing a depression like economy. These budget cuts should be done in increments’ in separate pieces of legislation over time slowing as the economy grows. I know this will not happen but that is the way it should happen.

The options the republicans have are unacceptable and the whole problem with the country is making deals or compromising with the democrats a party that wants to intentionally destroy the country. Obama and the democrats have found a way to blame the whole thing on the Republican Party but the truth is the whole thing was contrived by the democrats. The democrats want America to go off the fiscal Clift because they can blame any deal and all of them are bad on the Republican Party.  No matter whose fault it really is the liberal fringe lame stream news media will carry the lie and the people will believe the lie. America’s favorite pastime is blaming someone else for what they did to themselves by voting for democrats and Obama to get the free stuff.

I have told you about what the CBO has said about just taxing the wealthy and it has a really bad outcome and now let’s have a look at the math on the even bigger problem going completely off the $600 billion cliff. There is very big chance of the whole economy completely falling apart if the full force of taxmageddon if the existing law isn’t changed. The cost is a dramatic 4% of GDP just disappears into thin air. This will have the same economic effect as a gallon of gasoline going from $3.50 a gallon to $6.00 a gallon. You can probably relate to that and you know what that will do to your finances then multiply that time 140 million working Americans and the national fleet of 250 million cars. I did do the math based on our usage and the $600 billion taxmageddon it’s a very close estimate. This is an example for the effects and it will not necessarily affect the price of gas but the overall economic effect will be the same. (Catastrophic)

This taxmageddon automatically just happens in less than 4 weeks on January 1st 2013 if congress does nothing because this is already the law. Again stock markets will react before that date of January 1, 2013 not after. The optimism market players have that congress will stop taxmageddon comes from fantasies of the media and or wishful thinking.

The last 2 years has proven we have a senate that refuses to bring anything that passes the house to be allowed an up or down vote. At last count the republican controlled House of Representatives has passed 39 bills and Harry Reid hasn’t allowed any of them to go to the floor of the Senate for a vote. The house of representatives is functioning just fine passing 39 bills proves that. It is the Senate and or Harry Reid that is completely dysfunctional. The house has also passed 2 bills to fix the Clift or taxmageddon but dirty Harry wont allow a vote on either one. The truth is the democrats are screwing things up they are the dysfunctional party and they want to force America to go off the fiscal Clift. There purpose is to destroy the Republican Party and America with them. Will the democrat’s devious plan work?

If congress does nothing we get the full force of the fiscal Clift the media has been taking about but no one clearly explains exactly what that means to you and the whole country and the whole world will suffer great economic distress from our taxmageddon. I don’t think any of them are smart enough to see what it really means but I will attempt to explain more clearly here.

Here is what taxmageddon or the fiscal Clift means to you and to the whole economy and this number seems to get bigger by the week as more deductions are found that just go away and the higher total of the taxes mount up. The total amount of higher taxes collected from the wealthy and the middle class and the working poor (now 28 million that now pay no taxes at all and probably voted for Obama) is now $ 538 Billion in higher taxes as all tax rates go up 5% higher than they are now and around 20 tax deductions go away. This huge number of $ 538 Billion and based on the CBO estimated results of what $80 billion in higher taxes to only the wealthy was projected to do can be used as a guideline to calculate the economic impact of going off the Clift or taxmageddon.

The CBO has currently stated they cannot do an estimate on taxmageddon deal because they need the legislation to score the cost to the economy but that legislation doesn’t exist yet so we have to use the last CBO estimate as a basis on the budget act of 2011 debt deal that got us in this mess.

The higher tax of taxmageddon of $ 538 Billion on every one that works or has taxable income is 6.7 times the $80 Billion scored by the congressional budget office in 2011. Logically and mathematically the higher taxes would have the same multiple in its negative economic effects of 6.7 times the money that goes missing from the private sector economy into the black hole of government deficits of $1.1 trillion for 2012. So the math is 6.7 times the 700,000 lost jobs or 4,690,000 jobs lost. The negative growth rate of -.5% will be 6.7 times more or -3.35% This is to show the trend that when this much money being taken from the private sector in just simple straight math and it shows it will be catastrophic for the economy and jobs. This will be worse than the 2008 bank collapse because it doesn’t stop this time. No big stock market corrections or crashes are in the CBO estimates, there not allowed to do that.

I can tell you it will be a lot worse than any CBO estimate and there are a number of reasons. Here are just a few: first people will change their spending habits according to affordability after a stock market correction or a market crash. The working population or the tax payers that support the whole economy and socialist system will pull back spending as 50% of the working population are somehow invested in the stock market like in a 401k retirement program and that hurts business even more as everyone feels poorer and spends less. Adding to the devastation caused from the $538 Billion in higher taxes. The stock markets worldwide will adjust to America going into a recession along with all American stock markets as we are all tied together economically whether we like it or not that’s just the way it is. The CBO is not allowed to speculate on how markets will react they have a stricter set of guidelines and that’s why they are way off on most of their estimates long-term. There estimates are good for a few weeks to maybe 6 months, after that as time goes by their longer term estimate are useless.

No matter what the outcome the Republicans will be blamed for it. The election didn’t change anything and we will get 4 more years of congressional gridlock and 4 more years of an Obama’s dictatorship.

Some examples you can reference to see how people react and change their spending habits after any economic catastrophe is the 2008 bank collapse the 1987 stock market crash and the September 11, 2001 attack on the twin towers in New York. People just stopped spending and the economy went directly into a recession and my point is – things will get a lot worse than the -3.35% negative economic decline and will more likely be in the 6% negative GDP range just like after the 2008 bank collapse and the first quarter of 2009 was negative – 6% GDP and we have still not fully recovered from that. On top of that the Federal Reserve can no longer bail anyone out they are out of options but they can take over the banks and federalize them.

The overall dynamics of the economy has changed dramatically since 2008. This decline will be worse than any decline before because of the huge $16.4 trillion total deficits and a much larger portion of that are held within the banking system now in 2012 than in the 2008 bank collapse. A GDP growing at only 2% and Inflation said to be low at 2.2% if you believe that? The economy isn’t really growing at all, it’s the inflation that makes it seem like it is. We are in a much weaker position economically in 2012 than in 2008. 

This is a worldwide problem as all the major economies are doing the same thing. The total world-wide printing by governments has increased $21 trillion in just the last 6 years and most of that new debt is in the banking system.

The middle class with 401k Retirement plans or any money involved in the markets stocks or bonds will likely lose 40% to 60% of their money in those retirement accounts. Just like in 2008 after the banks froze up and this is just to start with, so the working people who support the economy will not be spending at the same rates they are now and all the false optimism will be forced away with a collapse coming in just 10 days when congress goes home for Christmas vacations while the economy through the stock markets just falls apart.

I have followed and been directly involved in every economic catastrophe since Jimmy Carter was president as a business owner and Obama and the democrats’ have set us up for the biggest collapse in world history. (The political economy)

In the last 4 years since the bank collapse of 2008 here is what has changed and will give us a multiple of 3 to 4 times worse than in the last bubble bursting and all created by the Federal Reserve poor economic and monetary policies. The banks have been buying trillions in U.S. treasury debt adding to what they already hold and adding trillions to the problem because the Federal Reserve has been making up phony money with these dollar amounts in trillions and creating a new much larger bubble than we had in 2008. The Federal Reserve has been buying old debt with the Q.E 1-2-3, and the so-called twists and the banks have been investing some of the money into the stock markets and commodities as well and repurchasing new federal debt with the very same money the Federal Reserve has been putting into the banks. (A Ponzi scheme; if you or me did this we would go to jail for a very long time like Burney Madoff)

This pumping of artificial money into markets has artificially inflated stock prices by pumping trillions of dollars into the banks creating money out of thin air with nothing but faith to back it up. Markets will collapse quickly as that faith will evaporate in a steep decline or even worse a panic sell off like in the 1987 crash and like all other crashes will take everyone by surprise. The banks are holding this huge multi trillion-dollar bag of dogey doo in U.S. government debt and banks will be blamed once again for what the politicians did or didn’t do. This is a 1934 cartoon from the New York Times. This has happened before.

 65312741

The banks and the biggest investment firms which are banks are the biggest players in the artificially propped up stock markets and the bond markets. This is a worldwide condition that every government and economy in the world has been doing the same thing for the last 4 years. This bubble only needs a trigger to set it off and I believe the trigger is taxmageddon that comes in 10 days. This starts on December 14, 2012. The markets will decline and this decline will continue till Friday the 21st of December. The reason it stops there is because the 25th is Christmas day holiday and markets will be closed Saturday December 22nd to Wednesday the 26th of December. After that all the damage will be done and whatever congress and Obama do after that will make no difference, it’s too late to fix anything once the markets correct or collapse.

The economic losses will be similar to a repeat of the 2008 bank collapse only multiplied times 3 to 4 of what happen in 2008. There will be no rescue from the Federal Reserve and no bailouts of the banks as the federal government with the Dodd, Frank banking act allows the government to just take over the whole banking system there are no limits to what the government can do now under Dodd, Frank and that’s what will happen as that’s exactly what the bill is meant to do. Nationalize the banking system and here we go to the government controlling everything. (Communism) So what’s next? They’re going to steal all your money no matter where it is.

How much do you trust the government having control of all your savings and what do you think they will do with it once they have legally taken control of the banks and nationalizing the whole banking system and all the money? What did they do with the social security money? They spent it all, need I say more? If or when this happens think about what you will do if you have savings in the bank and that’s what everyone else will do. The results will be Runs on the banks just like in the great depression and finally just closing the banks as they run out of paper and digits in the computers. Banks only have about 10% of their deposits in cash or liquid assets the rest is loaned out to someone and even loaned to other banks that may go bankrupt and close their doors these loses quickly dominos through the entire banking system no matter who owns them.

The Federal Reserve has no bullets left and the bazooka doesn’t exist anymore.

In 2008 prior to the collapse of the banks the federal deficit total was about $9.6 trillion and its now $16.4 trillion. The interest rate set by the Federal Reserve was 5% in 2008 now its .5 or ½% it can’t get any lower than zero and lowering it 4.5% has done little good for the economy and reducing it, another ½% won’t make any difference after a market crash. We also will have reached the current debt ceiling of $16.4 trillion by the last week of December 2012 or first week of January 2013. Little has been said about this debt ceiling being reached but their parts of a grand deal Obama wants that’s no deal at all and will not come.

If I wanted to destroy America I would have done everything the democrats did since they took control of congress in January 2007 and I would refuse to change anything just as democrats and Obama have done and continue to do. If I wanted to destroy America I wouldn’t change a thing.

We are currently barrowing nearly $100 billion a month for deficit spending and just printing and digitizing most of that up in computers the paper doesn’t even exist, it’s mostly cyber money on a hard drive in computers. If markets do come crashing down in 2 weeks with the debt ceiling increase tied to a tax increase bill that will not come and congress is out on vacation it all comes to a head at the same time. Once things do fall apart it’s too late to fix the damage already done.

This is the perfect storm and America’s judgment day has arrived. If congress does pass something and it’s not economically sound like raising taxes on the wealthiest 2% the exact same thing will happen and markets will react as if congress did nothing at all. We will all pay a price for the people who backed Obama and voted for him. The utopia Democrats all dreamed of and like they have dreamed of in socialist Europe for the last 150 years that utopia never did materialize and will never come for America either. What is coming will be more like the opening of the gates of hell.

The Federal Reserve is a bank. It is not a branch of government and isn’t controlled by congress directly. When this bubble bursts there’s not enough money in the world to fix this crash. The Federal Reserve holds around $4 trillion in its own issued debt and when the crap hits the fan this time the Federal reserve bank will be just as broken as the banking system they artificially propped up for the last 4 years and its all self-inflicted from poor monetary policy’s mostly since 2007. They think they have it under control but if they did we wouldn’t be in this catastrophic position.

I am a realist and do not hope for any better outcome for which there is no evidence of any possible better outcome. Hope is like wishing for something it only works in fairy tales but not so much in the real world. I have watched and participated in the political economy for over 30 years and I know what the politicians will do before they know what they’re going to do.

There are no grand deals to be made and any choices they do make will be bad ones for the economy. The policies of the federal government and the democratic controlled congress have put us in a box we cannot get out of. All of the possible outcomes stink. The poorly contrived political economic policies of the past our going to haunt us and our children through eternity and the bill is coming due now,  in the next few weeks not in 5-10 or 20 years.

We are about to witness the destruction of America through its economy from within our own elected government. This is all absolutely intentional it is not by accident that this is going to happen. Liberal progressive Democrats are just the tool or the useful Idiots for the destruction of America. There is someone else behind all this but this article is not about that.

The visible and undeniable end of America starts in 10 days. Obama is not trying to fix our fiscal Issues and Problems; His s trying to destroy the Republicans and to do that Obama’s going to destroy the economy and the country with it.

Congress goes from one screw up to the next screw up and the reason for this is the compromise of capitalism in trade offs for a larger more expensive government and more socialism and wealth redistribution. This will only end when we collapse under the weight of too much socialism, the government will go away with it and that’s weeks away not years. The deal Obama and the democrat controlled senate offers are going to collapse the economy. Keeping taxes the same for everyone will just put off the date as it will come up again.

The bottom line on taxmageddon or the so-called cliff is no matter what happens Americans gets screwed.

 If we get exactly all that Obama’s asking for we go off the cliff and into a deep recession. The congressional budget office has stated this and I agree.

 If congress does nothing at all we go of the bigger cliff. So no matter what: deal or no deal we go off the cliff. That’s the deal, we go off the cliff.

 The only alternative is keeping all tax rates at their current levels for everyone and Obama said that’s not acceptable. So we go off the cliff.

 The republicans are already being blamed for this but they haven’t been in control of congress since 2006 and they still are not in control but the lying media says republicans are to blame.

  Lou Dobbs agrees with me 

http://video.foxbusiness.com/v/1998558236001/fiscal-cliff-is-no-joke

Paul Ryan: That leads us to conclude Obama’s trying to get us to our fiscal cliff,” Ryan said. “He doesn’t want to come to the middle.”

http://dailycaller.com/2012/12/04/paul-ryan-addresses-fiscal-cliff-were-nowhere-were-farther-than-where-we-started/

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Mr. Romney the charge needs to be made that the massive deficit spending of the democrats in 2008 collapsed the banking system and the evidence is in the Federal Reserve’s yearly and monthly budget records. This is what the Europeans mean when they blame America for collapsing the banking system in 2008 and the media never explains how or what Europeans mean by the accusation we collapsed or caused the world banking system to fail.

 

Barack Obama was a part of this massive deficit as a congressman in 2007 and 2008 as he is president now and has been for 3 years and 9 months. Why didn’t he fix it when he had total control by a supper majority in congress 2009 to 2010? He has no intention of fixing anything only destroying everything.

 

Here is what these federal budget documents show for 2008. $454.8 billion on deficit spending for Fiscal Year 2008 on budget deficits and an off budget deficit of $ 581.8 billion this gives us the total of $1.035 trillion for the democrats 2008 deficit.

 

First democrat budget 2008 Gross Public Debt $ 9,986.1 trillion

http://www.usgovernmentdebt.us/year_spending_2008USbn_13bs1n#usgs302

 

Last republican budget 2007 Gross Public Debt $ 8,950.8 trillion

http://www.usgovernmentdebt.us/year_spending_2007USbn_13bs1n#usgs302

 

The total democrat’s first year on and off budget 2008 deficit $1.035 trillion

 

The importance of why this matters is the dates because 70% of the $1.035 trillion in deficits happened just 5 months before the bank collapse not after.

 

Again this was done before the bank collapse not after and I believe it caused the world’s banks collapse of 2008 and not a result of it as the lame stream liberal news media and the democrat party has lied to the American people. If I wanted to destroy the American economy I would have done exactly what the democrats did do in their first budget as soon as they got control of congress in January of 2007.

 

Evidence and government reports are below as evidence to what I just said.

 

Democrats took control of congress in January 2007

 

Democrat’s first budget was from October 1, 2007 to September 30th 2008

 

Democrats first on budget deficit was $452 Billion on budget

 

Democrat’s first budget deficit including on and off budget total was $1.035 trillion.

 

This $1.035 trillion deficit did not include the bank bailout of $ 700 billion signed into law on October 3, 2008. this was after the close of the fiscal budget year ending on September 30, 2008 and would be in addition to the $1.035 trillion deficit. I have and am still hearing from the liberal and some conservative media that the bailout was the reason for the huge deficits but this was a special spending bill separate from the regular budget and was never all spent only about half was used and most has been paid back or will be. This is part of the political game of blame the banks for what the politicians did to give them cover and blame George W. Bush.

 

The average monthly off budget deficit of $ 581.8 billion combined with on budget deficits is what collapsed the banking system and $48.4 billion average in off budget deficits from May 2008 to September 2008 each month accumulative combined with the $454.8 billion on budget deficit spending is what dried up all available money in the banking system worldwide. Most of this deficit spending for fiscal 2008 or 70% happened in this five month period just before the 2008 bank collapse. This is not a theory it is from the records of monthly spending of Federal Reserve and CBO documents and hiding in plain sight.

 

Prior to the collapse the federal deficits were financed by banks and or governments of foreign countries. We didn’t start just printing money until after the banks collapsed in September 2008. The average on and off federal budget deficit in those 5 months before the bank collapse in 2008 was $140 billion a month and here we are it is September 2012 and the monthly on and off deficits have consistently averaged around $120 – $130 billion every month since May of 2008. All this happened after the Democrats got control of congress January 2007. None of this was done by the republicans and all of it was done by the liberal, progressive, socialist, democrats.

 

I would also like to remind readers of this – the entire prior year 2007 republican deficit was $161 billion for 1 year or $13.4 billion a month and all of a sudden it’s $161 billion every 40 days. This acted as a shock to the worlds banking systems and caused the world-wide banking system to collapse. If it was just our mortgage problems why did the whole worlds banking system fail? American private banks like Lehman Brothers failure by them self’s cannot dry up the world’s money supply but the Federal Reserve can and they did to finance the deficits from the democrats out of control spending. If it was just 1 bank that failed that wouldn’t cause the world-wide banking system to collapse either. It would take a world bank to collapse the system and that’s what the Federal Reserve is a world bank.

 

Here is the 5 monthly on budget deficits just before the 2008 bank collapse. This is just on budget deficits and not the off budgets that’s additional to these 5 months.

 

May 2008 Deficit -166 billion

June 2008 Deficit -33 billion

July 2008 Deficit -102 billion

August 2008 Deficit -112 billion

September 2008 Deficit -45 billion (the month of the world-wide bank collapse)

 

The total federal deficit for the period from May of 2008 to September 2008 was $ 458 billion. This is more than the entire on budget federal deficit for all of 2008 of $ 452 billion which means that up to that point we were on budget deficit nearly balanced and except for off budget spending we were up to that point of April 2008 and then an avalanche of all time record amounts of on budget and off budget combined federal deficit spending never before seen in history dried up all liquidity in the world banking system and left it broken to this day.

 

This is the on budget deficit for the 5 months prior to the 2008 bank collapse or $ 458 billion in just 5 months. Adding the average off budget deficits of $48.4 billion each month for those five months totals another $242 billion and the on and off budget the total is $ $700 billion. The close of the 2008 budget was September 30, 2008 and the bailout of TARP $700 billion was after the close of the 2008 budget year. Don’t let the media or anyone lie to you that the deficit was caused by the crash of the banking system as the banking system collapse was the direct result of the $1.035 trillion deficit spending of the democratic majority control of the senate and the House of Representatives. The democrats didn’t inherit this mess they caused it and the calendar and government records proves they caused it.

 

This is also the exact dollar amount of the 2008 bank bailout of TARP $700 billion and now we know the truth of how they came up with that number. Take notice this $1.035 trillion dollar 2008 budget deficit does not include the bank bailout of $700 billion that was special legislation and separate from the regular federal budgets in 2008 and in 2009. TARP was never part of the regular budget deficits it was special legislation and the banks have paid almost all of it back as of 2010. The reason the banks don’t complain is there in bed with the politicians and are happy to collapse the system and steal everyone’s money.

 

The Federal Reserve had to put back into the worlds banking system the money they took out of the world banking system prior to the bank collapse and that was caused from massive federal deficits of the liberal progressive democrats from May of 2008 to September 2008 and this budget was voted on according to constitutional law by April 2007 and this was 19 months before the collapse of the system. This was calculated and not an accident how can anyone spend $1 trillion by accident?

 

TARP dates and explanation of the bailouts.

http://useconomy.about.com/od/criticalssues/a/govt_bailout.htm

 

The total democrat’s first year on and off budget deficit ending September 2008 the very same month the world banking system collapsed was $1.035 trillion. I repeat this happened before and not after the bank collapse of September 2008 and then the democrats blamed republicans and the banks for what the Democratic Party intentionally did by April 2007. If I wanted to destroy America this is how I would do it.

 

http://www.youtube.com/watch?feature=player_embedded&v=CZ-4gnNz0vc

 

For those who blame Bush I say this, there has not been a federal budget produced by a president since President Eisenhower that was paid any attention by congress. As anyone who would say its Bushes fault I recommend you go back to school study some history and read the constitution as it clearly states the federal budget originates in the House of Representatives not the president’s office. The president does produce a recommended guideline for what he would like in the budget but it’s always ignored by congress. To suggest otherwise is just false information and you would be lying about the facts. Congress spends the money not the president. Read the constitution that’s what it says.

 

Take special note of the facts and the dates of this 2008 budget that was passed by April 15, 2007 or 1 year and 6 months prior to the collapse of the worlds banking system. Also the democrats did this just 4 months after taking majority control of both houses of congress in January of 2007. The normal deadline for congress to pass a budget is April 15th of each year and the budget year starts October 1 and ends September 30th if it was not intentional then what the hell was it!

 

Why hasn’t anyone in the Republican Party after 4 additional years of these intentional trillion dollars a year deficits pointed out that the Democratic Party is and has been intentionally trying to destroy America’s economy through the process of the federal budgets and deficit spending and also again using the private banking system to do it? This is being done so they can blame banks and Wall Street to give cover to the politicians.

 

The charge that all republicans running for congress and for the president’s office should make is this.

 

The democrats are trying to destroy the country economically from within the government with the massive trillion-dollar federal deficit spending year after year.

 

You have a clear choice do you want to destroy America from within or do you want America to prosper?

 

Also if the democrats are successful in their destruction of the current economic and political system the government all of its socialism goes with it the same day the existing system collapses. So the 47% on the dole will lose all government support if the system collapses. Not a scare tactic just a fact. Also the other 53% not on the dole will lose everything they have as well if the system collapses. It doesn’t matter where you put your money the collapse of the system will make you penniless if you can’t get your money out of the banks.

 

If Romney’s 47% statement wasn’t correct then why does Obama consistently pole at a 47% average? Common sense and statistics proves what Romney said was true. But the media twisted it into something he didn’t say and this is what they always do from 35 years of observation of the lame stream media. The whole Democratic Party is based on lies and if you look at their constituents is it any wonder why?

 

What the Democratic Party is doing is seditious treason by the legal description and or definition, but that part may or may not be included and left up to the person who makes that charge of treason. As the liberal progressives may try to dismiss the evidence above as a conspiracy theory and do what they do and turn the truth or facts into a fiction with the use of the word conspiracy to discredit facts.

 

The idea is to make a really big stink about all this intentional destruction of the wealth of America and let the American people decide what to do with the truth.

 

Force the liberals and the media to demand apologies and then tell all concerned I will not apologize for exposing democrats for what they have done and telling the truth about their treasonous plans to destroy America from within. (A further intentional insult) This is what Allen West does and god blesses Alan West for telling the truth. He is the bravest man I have ever come into contact with and he knows what’s going on in America and he has identified the enemy from within, the Democratic Party and the progressive communist caucus.

 

Alan West calls progressive caucus a bunch of communists. He has had the same education that I have about political economic systems and you won’t learn this in college you have to seek the truth on your own.

 

http://www.youtube.com/watch?v=dXi4l4q6Aho

 

Go have a look for yourself at the communist party USA website and compare that to the democrat’s website and then have a look at the progressive caucus and then the unions and anyone else in the Democratic Party they all look like or have the same stance as the communist party USA website. Well of course they do they are all communist just like Alan west tells us they are and McCarthy was right too.

 

http://www.cpusa.org/

 

Grab the democrats by the nose and kick them in the ass. (Romney Did) If you want to piss off a liberal tell them the truth. If you want to piss of a conservative tell them a lie. This tells it all about the liberal and progressive character.

 

Always attack and force the liberals to defend. Every answer or any rebuttal should be in the form of additional attacks using the truth which always turns liberal or progressives into raving maniacs and never defend or apologize always attack. In war and politics defending a position is an admission of defeat and weakness’. (General George Patton tactics)

 

We also have to grab the American people by the nose and lead them to the truth.

 

This is what happens when the democrats are in charge. This is the monthly employment report that shows charts of what happened to the unemployment rate as soon as the deficit spending of the new 2007 democrat majority got control and started to deficit spend like the crazy people they are.

 

http://www.bls.gov/news.release/archives/empsit_01092009.pdf

 

See the charts on page 1 just under the headline. This is before the banks collapsed not after. This shows how the employment went from 4.5% while the republicans controlled congress in 2006 and how it rapidly changes after January 2007 when democrats took majority control of congress and unemployment skyrocketed up to 6.5% prior to the bank collapse not after and eventually went over 10% unemployment.

 

http://www.bls.gov/news.release/archives/empsit_01092009.pdf

 

The more congress spent the worse the job situation got. See the charts just under the headline number. This also proves that government spending and deficit spending does the opposite of what liberal progressive democrats tell you. The more the democrat’s deficits spent the worse unemployment and the economy got.

 

The stimulus of $800 billion in 2009 did very little for permanent job creation and thus destroying the myth of government creating jobs by borrowing and spending money they don’t have. The government has borrowed or printed $7.4 trillion in just the last 5 years and the economy still stinks. As the government barrows the money it’s not in the banks anymore for the private sector to buy houses or for business to barrow for expansion and job creation.

 

I will do another page very soon showing all the specifics and naming the major players and legislation that caused the 2008 bank catastrophe and all of it comes from the Democratic Party’s legislation.

 

If you wish to contact me please leave a message. I will see it before it is posted.

 

If you are a liberal, progressive democrat don’t waste your time or mine trying to post here. I have been in the political economy for 46 years, not reading about it but living in it as a business owner and employer and your B. S. is just that to me and your lies don’t belong here.

James Garrett

 

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The following is a copy of Palin’s recent remarks about the Federal Reserve’s money printing.

I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.

The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.

And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?

All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries know that prices have risen significantly over the past year or so. Pump priming would push them even higher. And it’s not just groceries. Oil recently hit a six month high, at more than $87 a barrel. The weak dollar – a direct result of the Fed’s decision to dump more dollars onto the market – is pushing oil prices upwards. That’s like an extra tax on earnings. And the worst part of it: because the Obama White House refuses to open up our offshore and onshore oil reserves for exploration, most of that money will go directly to foreign regimes who don’t have America’s best interests at heart.

We shouldn’t be playing around with inflation. It’s not for nothing Reagan called it “as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man.” The Fed’s pump priming addiction has got our small businesses running scared, and our allies worried. The German finance minister called the Fed’s proposals “clueless.” When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it’s time for Chairman Bernanke to cease and desist. We don’t want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It’s the only way we can get our economy back on the right track.

 Sarah Palin and Ronald Reagan agrees with everything I have said about the self-destructive path we are on.

 Please feel free to leave a comment

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This is a record of monthly spending from the first year budget when the democrats took control of congress in January of 2007. This budget was to be passed by April 15 of 2007 and started October 1, 2007 and ended September 2008 the month the banks collapsed.

What is so important to know is that in the prior 5 months before the bank collapse in September 2008 the democrat’s on and off budget deficits were already averaging $130 billion a month.  The Federal reserve borrowed $683 billion in that 5 month period prior to the bank collapse. The Federal Reserve dried up the banking system financing deficits of the democratic party.

This spending level continues at the same level in all of the 2011 budget at $130 billion each month. It was the runaway purposeful spending of the democratic congress that caused the banks to collapse not the bankers as everyone has told you. I know you want to believe it’s the banks fault and their greed,  so does the government but who controls the banks? The government does.

Table 1

Date Fed. Deficit   $ Billions Off budget $ Billions Total year   deficits billions  Job creation New Housing sales yearly
04/2008* Surplus 160 -43.33 +117   +145,000* 526,000
05/2008* Deficit -166 -43.33 -209   -861,000* 512,000
06/2008* Deficit -33 -43.33 -76   -126,000* 530,000
07/2008* Deficit -102 -43.33 -145   -248,000* 515,000
08/2008* Deficit -112 -43.33 -165  -640,000* 460,000
09/2008* Deficit  -45 -43.33 -88/978  -403,000 464,000
10/2008* Deficit -155 -39.6 -194.6l  -320,000 433,000
11/2008* Deficit -171 -39.6 -210  -533,000 407,000
12/2008* Deficit  -83 -39.6 -122  -524,000 331,000
01/2009* Deficit -63 -39.6 -102  -598,000 309,000
02/2009* Deficit -193 -39.6 -232  -651,000 337,000
03/2009* Deficit -191 -39.6 -230  -663,000 356,000
04/2009* Deficit – 21 -39.6 -60  -539,000 352,000
05/2009* deficit 189 -39.6  -228  -345,000   342,000
02/2011* Much worse  2011 est.  $1.9 trillion   -N/A  270,000

How could a hand full of banks in the United States collapse the whole worlds banking system?

If it was the banks fault why does this same level of Federal Government deficit spending at $130 billion each month continues 4 years later?

Why was the trouble asset relief program (TARP) almost exactly the same amount $700 billion compared to $683 billion in deficit spending in the 5 months prior to the bank colapse in September 2008? A little close don’t you think?

Since when does the government ever tell the public the truth? That would be something new.

That movie they made about the bank collapse was so full of false information it was nothing more than a propaganda piece for the liberal, progressive Democratic Party, just a pack of lies. Look at where the movie originated in Hollywood a den of liberals.

See the carton below dated 1934 to show this is nothing new this is exactly what the liberals did in the great depression different day same old crap.

A combination of the deficit spending forcing the Federal Reserve to raise interest rates and an ever-growing need to barrow more and more in the world financial markets forced the collapse of the real estate market and thus the worlds banking system. In the last column I jump ahead to February 2011 to show that it’s just as bad and even worse as the Federal Reserve barrows, prints or digitized money to cover the $188 billion in March of 2011 this is an all time record high. This will get worse!

My most current yearly estimate of the 2011 on budget deficit is $1.6 trillion and an additional off budget deficit of $330 Billion this gives us a total of $1.93 trillion for 2011. The overall situation has gotten a whole lot worse and no one is reporting this. Don’t any of these people reporting the news own a calculator to figure all this out? I guess not. It all comes from public government records hiding in plain sight.

The cartoon from 1934 says a lot about how many times liberal progressive Democrats have tried to collapse capitalism. It reads Plan of action for the U.S. spend, spend, spend. Under the Guise of recovery Bust the government Blame the capitalists (BANKS) for the failure. JUNK THE CONSTITUTION AND DECLAIR A DICTATORSHIP.

DOES ANYTHING THERE LOOK FAMILURE TO WHAT HAS BEEN GOING ON FOR THE LAST THREE YEARS?

Also take notice of who is riding in the wagon and who they are. Harvard and Columbia the same place they claim B.O. was educated.

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I would like to clear up the lies coming from the liberal fringe news media. This is information no one else seems to have. I have heard no one report this so I am going to tell you the truth.

Democrats took control of congress in January 2007

Democrat’s first budget was from October 1, 2007 to September 30th 2008

Democrats first on budget deficit was $452 Billion

Democrat’s first budget including on and off budget was $978 billion

In the five months just prior to the bank collapse in 2008 the democrat’s deficit spending on and off budget totaled $683 Billion. I repeat in the period of five months May to September of 2008 just before the bank collapse of 2008.

This $683 billion in deficit spending is what broke the banking system not the greed of Wall Street that you have been misled to believe.

The banks collapsed on September 18, 2008 specifically from the Federal Reserve borrowing a record $136 billion a month in the five months prior to the collapse. This is almost 10 times more than they normally borrowed in the 2007 Republican budget. This took all the money out of the world banking system that was already stressed from a high interest rates imposed by the Federal Reserve which initially caused problems in the real estate market.

The troubled asset relief program otherwise known as TARP was almost exactly the same amount at $700 billion. This was meant to replace money back into the banks which had been dried out by that very entity the Federal Reserve. This was borrowed to finance the Democrats out-of-control deficit spending.

Hollywood made a movie so you would believe it was the greed of the banks and not the politicians fault.

It’s now 2011 and we are still working off of a democratically controlled congresses federal budget and the monthly average deficit is the same as it was five months prior to the bank collapse about $130 billion a month.

In the last three years and seven months of Democrats budgets we have spent more than $5.4 trillion up to May 2011. This is an average of $128 billion a month and it continues.

The Democrats and the liberal fringe news media also want to blame it on the Republicans but liberal Democrats were in control for 21 months before the bank collapsed in September 2008. This is all 100% the fault of the Democratic Party not the Republicans. The last republican budget deficit was $161 billion for the whole year of 2007. The republican 2007 budget was passed by April 15, 2006 while they were still in control of congress.

Presidents can’t spend a dime of tax payer’s money. Read the constitution the budget must originate in the House of Representatives.

Americans believed the liberal fringe news media that kept repeating the lie of the economy was really bad with 5% unemployment and a $161 billion yearly deficit. The American people voted in the 2006 election to give the democrats control of congress, they believed the lies of the liberal fringe news media and the Democratic Party. The lies and the deceit continue.

This should also prove to anyone with any common sense that government spending does not create jobs. We have spent $5.4 trillion in the last 44 months since democrat took majority control January 2007 and the economy is still where it was five years ago if you adjust for inflation. All the growth in the economy is artificially supported by massive deficit spending.

This massive amount of federal government spending of $5.4 trillion only proves that government’s deficit spending destroys jobs and it also destroys wealth as it creates high inflation, high food prices, and high gasoline prices.

By the end of the Democrats September 30, 2011 federal budget year the total federal debt will be $6.4 trillion from four years of their control of Congress all done by the Democratic Party. This is a 71% increase in the total national Debt in just 4 years, if this is not intentional then it must be by accident. How could it be by accident? 

All the above information comes from the government records of the Federal Reserve, Department of Labor statistics and the Congressional budget office.

 All this information is hiding in plain sight for everyone to see, you just have to open your eyes and look for it. 

James Garrett

 Are the liberal progressive Democrats and Barack Hussein Obama guilty of seditious treason? http://tiny.cc/0j9ej

 Please leave a comment I want to know your thoughts.

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