John,
Thank you for the interesting article from Worldnutdaily...
It is quite obvious that they have a certain agenda of their own to achieve and they'll permit all kinds of misc. TRIPE to be presented
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The real U.S. economy
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excerpts:
Saying that our country is strong may not be one of Mr. Clinton's biggest lies, but it is a gross misrepresentation. It's like looking at a junkyard after a snowfall. It's beautiful because the old tires, rusted metal and piles of trash have been covered with a lovely blanket of white. Our military is hollowed out; our trade imbalance is growing, especially with China. The PRC is using our technology to build a new generation of missiles and Russia is considering a partnership with China in developing its top-secret MiG 1.42. Meanwhile, we still have no defense against incoming intercontinental ballistic missiles. Our schools are failing. Most of us send our children to school well prepared. Many can read and write before they enter school but they get further and further behind with each passing year, and the president's answer is more federal control.
All of the above, except the trade deficit, is interesting, but completely irrelevant to the strength of the US economy.
The economy continues to hum along, but it is still one of the weakest recoveries in our nation's history. The budget surplus is not really a surplus at all when you back out all the money that should be in a Social Security trust but isn't, and our gross public debt increased -- not decreased -- over the last twelve months by a whopping $131.3 billion.
Is this women HIGH???!!! Any kind of surplus is positive given the fact that we've been running huge deficits for years. But she is quite correct that the latest budget is the largest in history, and as the WSJ reported yesterday, the first time since 1944 that the gov't has consumed 20% of the country's GNP. This has got to stop.
The unexpected revenue pouring into Washington and our state houses is primarily because of windfall profits in the stock market. If you aren't in the stock market, your own personal economy isn't doing very well, because your family is giving 40 percent of its earnings back to the government.
No disagreement there, but the mother of all bear markets will be upon us if AG can't put a cap on this global deflationary cycle and restarts the economic engines. And when that happens, all of those wealthy people are going to wonder what happened to their stock values.
The stock market is propped up by the economic news, which is largely misstated. Economist Walter J. Williams, who runs the Shadow Bureau of Government Statistics in Hawthorne, N.J., reports that our annual inflation is not 1.6 percent, but 4.1 percent over last year if you use pre-Clinton methodology. Unemployment is not 4.3 percent, but over 10 percent if you back out all those people who were reclassified as "discouraged workers" and simply eliminated from the government's tally. And over half of the 17.5 million new payroll jobs since Clinton came into office are imaginary "fudge" factors.
Well, I would certainly like to know where this inflation is taking place. When I go and buy a gallon of gas, I pay about .85/gal, WITH THE FEDERAL AND STATE TAXES on it. And I haven't too many other things that have increased in price as of late.
According to the above paragraph we're already in the grips of a dire depression throughout the economy. Well, it ain't so bad from where I'm looking.
Sooner or later the snow melts, and when it does, we will find that our fiscal state closely parallels the moral state of our union. We didn't need another puff speech. We needed a hard dose of reality.
And she needs to seek therapy. Does she really think this society was so "moral" before?? People were just more close-mouthed about it before.
I had never heard of Worldnutdaily before they broke the NGB story, but I feel as if I'm reading some form of conservative version of the National Enquirer.
And I'm a moderate Republican (or call me a pragmatist..:0)
Regards,
Ron
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