(Via Fox News Video)
This is not a terribly big shock to me; just look who is in the White House. This administration and Government is rife with corruption. I believe if this Government released the true numbers of unemployment in this Country; this stock market would crash and there would be a run on the banks of epic proportions.
In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington.
The decline — from 8.1 percent in August to 7.8 percent in September — might not have been all it seemed. The numbers, according to a reliable source, were manipulated.
And the Census Bureau, which does the unemployment survey, knew it.
Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy.
And a knowledgeable source says the deception went beyond that one employee — that it escalated at the time President Obama was seeking reelection in 2012 and continues today.
“He’s not the only one,” said the source, who asked to remain anonymous for now but is willing to talk with the Labor Department and Congress if asked.
The Census employee caught faking the results is Julius Buckmon, according to confidential Census documents obtained by The Post. Buckmon told me in an interview this past weekend that he was told to make up information by higher-ups at Census.
Ironically, it was Labor’s demanding standards that left the door open to manipulation.
Labor requires Census to achieve a 90 percent success rate on its interviews — meaning it needed to reach 9 out of 10 households targeted and report back on their jobs status.
Census currently has six regions from which surveys are conducted. The New York and Philadelphia regions, I’m told, had been coming up short of the 90 percent.
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This one somehow snuck past me.
I happen to read on Populist Jim Hightower’s website about this one here and I went and looked it up and sure enough; there it was in black and white:
WASHINGTON –– To Wall Street, this town might seem like enemy territory. But even as federal regulators and prosecutors extract multibillion-dollar penalties from the nation’s biggest banks, Wall Street can rely on at least one ally here: the House of Representatives.
The House is scheduled to vote on two bills this week that would undercut new financial regulations and hand Wall Street a victory. The legislation has garnered broad bipartisan support in the House, even after lawmakers learned that Citigroup lobbyists helped write one of the bills, which would exempt a wide array of derivatives trading from new regulation.
The bills are part of a broader campaign in the House, among Republicans and business-friendly Democrats, to roll back elements of the 2010 Dodd-Frank Act, the most comprehensive regulatory overhaul since the Depression. Of 10 recent bills that alter Dodd-Frank or other financial regulation, six have passed the House this year. This week, if the House approves Citigroup’s legislation and another bill that would delay heightened standards for firms that offer investment advice to retirees, the tally would rise to eight.
Both the Treasury Department and consumer groups have urged lawmakers to reject the bills, warning that they could leave the nation vulnerable again to excessive financial risk taking. The House proposals stand little chance of becoming law, having received a much chillier reception in the Senate and at the White Ho
You believe those greedy bastards? Jim Hightower is not amused and rightly so:
On the day before Halloween, the ethically-challenged members of our lobbyist-haunted House of Representatives did a perverse imitation of “Profiles in Courage,” turning that body into “Profiles in Spinelessness.”
In particular, they cravenly caved in to an outrageous and dangerous demand by Wall Street whiners. Such financial powerhouses as Citigroup just hate having their profiteering recklessness restrained by the regulatory reforms passed after their 2008 financial meltdown. Even though the shockwaves from that Wall Street collapse continue to devastate America’s middle class, the banking elite have completely recovered – including recovering their swaggering arrogance and ability to sway money-hungry congress critters with rich campaign donations. — Read the rest at Jim Hightower’s site
I am shocked that more Conservatives are not swinging from the trees on this one here! To their credit, there are some Democrat Party house members that are opposed to this bill and rightly so. This is the same idiotic crap that brought down the stock market and killed our economy; thank goodness there is some semblance of sanity up on the hill.
Sure enough the Bill passed the house, But it is not expected to make it through the Senate and the White House has said that they would veto the thing, if it made it to the President’s desk. Which in this instance is a very good thing. However, this is not the point. What is the point is this: Those same bastards who caused the great meltdown of 2008, are now lobbying our Government to put things back as they were, so that this sort of thing could happy again. That my friends is enough to make an economic populist, like myself, to want to bite a nail in two! 😡
The people that caused the Wall Street meltdown and downturn in our economy ought to be brought up on treason charges, and lined up against a wall and shot! 😡 But, instead, they are trying to buy their way back to lawlessness. This my friends, is an outrage.
I am not an expert on the subject, but I think here might be a good reason as to why:
In the wake of gold prices cratering in recent days, more than a few prominent experts have already started pinning the blame on Western central banks — especially the Federal Reserve and the European Central Bank (ECB). According to numerous analysts, the central bankers are desperate to salvage their fiat currencies and eliminate competition as “monetary authorities” continue to create ever-greater quantities of euros and dollars out of thin air.
Some experts, whistle-blowers, traders, and former officials say the Fed dumped as much as 400 or even 500 tons of “paper gold” on the market — metals that it might not even have — as part of a naked short sale aimed at driving down the prices. Other analysts, especially among the establishment, pointed to the ECB chief’s recent suggestion that struggling European authorities in countries such as Cyprus would have to sell their precious metals to keep receiving bailouts
I do not really want to veer into Alex Jones territory; but it does seem interesting that gold plunges, there’s an attack and the stock market dives too. The events might not be related; but it sure does look a bit suspect to me.
This is from 2010, but I just discovered it. It is very good. It is a 4 part series. I highly recommend it.
WASHINGTON (MarketWatch) — A council of federal regulators charged with identifying risks to the financial system unanimously voted Tuesday to introduce three proposals urging the Securities and Exchange Commission to impose new regulations on the $2.7 trillion money-market fund industry.
Good luck with all that. There are too many people; left and right making serious millions with the flawed system.
So, don’t expect any changes like this.