Tag Archives: money

Are cardinals electing the last pope? If you believe Nostradamus…

Are cardinals electing the last pope? If you believe Nostradamus…

By Carol Grisanti, Producer, NBC News

ROME— Church bells are sounding the alarm for doomsayers and conspiracy theorists here as cardinals convene to elect a new leader for the world’s 1.2 billion Catholics.

According to an ancient prediction, this next pope will be the last.

That theory dates back more than 900 years to when Malachy O’Morgair, the 12th century Archbishop of Ireland, had a vision.

Legend has it that St. Malachy, as he is now known, had a strange dream while on a visit to Rome. He “saw” all the names of the future popes – complete with identifying characteristics – who would rule the church until the end of time.

Malachy’s “Prophecy of the Popes,” as his vision is called, named Benedict XVI as the 111th – and penultimate – pope. The vision ended with the 112th pope.

Clairvoyant or crazy?

In his book, “Life of St. Malachy,” St. Bernard of Clairvaux wrote that Malachy was respected as a clairvoyant who predicted the exact day and hour of his own death. At least one 20th century pope, Pius X, was convinced Malachy’s vision was divine, according to Rafael Merry del Val, his biographer.

But theologians and clerics argue there was never an authentic written manuscript. Malachy’s list was curiously discovered in 1590 in the Vatican archives, hundreds of years later.

“There is no historical foundation at all to St. Malachy’s list,” said Roberto Rusconi, professor of the History of Christianity at Rome’s University. “Malachy’s gift was to make other people believe in his predictions.”

Others have taken hold of Malachy’s list and compared it with history.

The first pope, according to the list, would be “from a castle on the Tiber” – for believers, that was clearly Pope Celestine II who was born on the shores of the Tiber River.

Pope Benedict was apparently described as “glory of the olives” and doomsayers point to his choice of the name Benedict, since the founder of the Benedictine Order was also known as Olivetans.

And in Malachy’s vision, the last pope – who will soon be elected – is described this way: “in extreme persecution, the seat of the Holy Roman Church will be occupied by Peter the Roman…”

While none of the Italian Cardinals are called Peter, one favorite to become Pope is Cardinal Peter Turkson of Ghana.

Lighting strikes the basilica of St.Peter’s dome in Vatican City during a storm on Feb.11, 2013, the same day Pope Benedict XVI announced his resignation.

If that was not enough to send shivers down a few spines, Nostradamus, the 16th century French astrologer and seer, predicted much the same as Malachy.

Nostradamus, a mild-mannered healer, was content to mix potions until the Italian-born French queen, Catherine de Medici, raised his profile from physician to prophet.

Nostradamus warned that the next-to-last pope would “flee Rome in December when the great comet is seen in the daytime.”

Taking into account the calendar months were different hundreds of years ago, Nostradamus wasn’t so far off. The Comet ISON, with its 40,000 mile-long tail, has been visible the past couple months as Benedict prepared to abdicate and leave Rome for his temporary home in Castel Gandolfo.

And for those well-versed in the language of brimstone and fire, the signs could not have been more transparent when just hours after Benedict announced he would abdicate, a bolt of lightning struck St. Peter’s Basilica, the very heart of Christianity. A few days later a shower of meteorites fell and devastated a village in Russia.

Cynics shrugged all this off as natural phenomena, while the doomsayers suffered from one more dose of existential angst.

In St. Paul Outside the Walls, another major cathedral in Rome, medallions line the walls with the names of every pope and the dates of his papacy. Legend says that when all the medallions are full, the world will finally end. On the walls of St. Paul’s, there are still some empty spaces.

Perhaps the end isn’t so near.SOURCE

Student Debt as a Moral Issue

Student Debt as a Moral Issue

By Noam Shpancer

A few months ago I took several of my students to a conference in Chicago. Many of my students come from small towns in Ohio. Many have never been to a big city. Many have never left Ohio, never been on a plane before. It was thus particularly rewarding to chaperone them and witness their excitement and joy as they experienced the Second City.

One evening, strolling down Michigan Ave, the conversation turned to money. I casually asked my students about their loan burden. One of them, a perky senior psychology major planning to get her Masters and become a social worker, said she had $80,000 in student loan debt. I was shocked.

Now, I am not entirely naïve about the problem of student loan debt. Until this year, I had one myself. A university degree is still—and perhaps more than before—the passport to the American middle class life.

Demand for education is high, classroom seats in good schools are in limited supply, and so prices tend to go up. Tuition rate hikes routinely outpace inflation. Thus, students are pushed into larger debts. According to the NY Times, the average student loan debt in the US topped $23,000 last year. Much has been written recently about the attendant economic and social hazards. A debt of $23,000 is a troubling burden, for students and parents.

But a debt of $80,000 is something else entirely.

You can perhaps make a case that debt of this magnitude is justified in some unique cases—such as in the process of obtaining a highly valuable degree from a top notch institution. Some professions pay very well. And Ivy League degrees practically guarantee higher starting salaries. But in this particular context—in my reality and that of my students—such a debt is simply not justifiable.

The difference between 23k and 80k debt is a bit like the difference between drinking and driving drunk. If I see a student of mine drinking beer, I may feel uneasy, or worried. I may even say something about responsibility. But if I see a drunken student get behind the wheel, I’m obligated to intervene. An $80,000 debt, for my students, is akin to getting behind the wheel while plastered. it is a recipe for disaster.

Like most private liberal arts institutions, my university prides itself on nurturing students. Many formal systems and procedures are in place to identify and address potential problems and pitfalls students may encounter as they pursue their degrees. We track student attendance, we track their grades, we advise them on which courses to take so as to stay on track toward graduation; we make sure they take the right load—that they don’t over-burden themselves.

There is a medical clinic on campus, as well as career counselors at the ready and free psychotherapy sessions. There are writing labs and tutors and study groups and remedial classes for those who are academically behind, or unprepared. There are assorted advocacy and support group and myriad religious activities.

There are social clubs and Greek organizations and many opportunities set up to help students find company, identity, a sense of belonging; we’re trying to take care of them while they learn the tools that will facilitate their ascent in the world.

Yet nobody, it seems, is looking out for their financial well-being. Nobody is there to monitor their debt load, throw up red flags and email notifications, set up consults, supports, or interventions.

One would be hard pressed to name three issues more critical to a young person’s chances of success in America than financial solvency, know-how, and responsibility. Yet we do little to help our students achieve these goals. In fact, we systematically undermine them.

You can probably guess why that is. Private liberal arts universities like mine are tuition-driven. We need that money to survive. Moreover, money matters in the US are private and personal. Adult Americans such as our students are entitled to act however they want with regard to their money. Americans, it is a well established fact, are entitled to do dumb things with their money. And they often take spectacular advantage of that entitlement.

But universities are not just businesses. They play a unique role in the life of young people and the life of the culture. A university in this regard is like a church—it requires money to exist well, but money should not be the goal of its existence. If a church is in financial trouble, it still should not sell its soul to the devil for an endowment. If it did, it might become wealthy, but it would cease to be a church.

The goal of university is to facilitate the future success of its students. A university that lets a would-be social worker (around 30k average starting salary, after graduate school, if they find a job) take on $80,000 in debt is negligent in terms of that goal.

The university may become solvent by taking this money, but in doing so it ceases to be a university.

Now, it’s true that professors and administrators in liberal arts institutions all around the country have not been in a very good mood of late. The business model that has sustained many small, private, non-Ivy League colleges around Ohio and the nation is dying. Online education is about to take many such institutions out of business. Soon enough, students will be able to receive great lectures, study materials, and help online; they will be able to take tests and earn diplomas and certificates matching their performance. They will be able to earn reputable degrees and acquire real knowledge and skills at home through the digital college, on their own time, for a fraction of the cost of traditional college.

First rate research institutions that don’t depend on tuition money will survive, as will private Ivies that cater to rich clientele and offer the benefits of national brand identifications and connections. But places such as the one that employs me are feeling the financial squeeze, and may go out of business in the not-too-distant future. And so it is no surprise that faculty and administrators are reluctant to do anything that might reduce enrollment and undermine further their already shaky financial stability. Little wonder the issue of student debt doesn’t get much attention on campus right now.

However it should. If we decide to fight to sustain the old classroom model of college education, it should not be on the backs of our students. If small liberal arts colleges are destined to fade out, we should not go out in a bitter, clueless and self pitying cloud of shame, dragging our students down with us.

The academic life—in particular the small liberal arts college tenured professor life—has been for a long time the best life America could offer. And for a while yet, that remains true. The quality of life in academia emerges from a unique blend of intellectual challenge, personal autonomy, and financial security. But in no small part, the quality of life in academia hinges on the palpable sense that you are doing good; that you are providing young people with real benefits, both tangible and intangible, that will help them—and if they don’t help, at least they won’t hurt. This sense of being on the side of goodness is what’s being undermined by letting a psychology undergrad take on $80,000 in student loan debt.

Universities, and faculty, should honor core commitments even—perhaps particularly—when under great duress. Our biggest commitment is to our students. Our biggest commitment to our students is to try to tell them the truth. The truth is that, for most people, taking on $80,000 in debt in the service of a social work degree is not a move that makes any sense these days. Universities should explicate their commitment to student solvency. They should establish effective formal mechanisms to supervise student debt, dispense sound, timely advice and guidance to students and their parents in this regard, and insist on first doing no financial harm. Failing to do so means that we are complicit—by fatigue, by willful ignorance, by lazy habit, by self-deception, or by wickedness; in other words by all those things we try to teach our students to shed and reject—in betraying our charges, and therefore also ourselves.

SOURCE

The Most Powerful Man in the World: The Black Pope

The Most Powerful Man in the World: The Black Pope

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Black Pope Adolfo Nicolas, Superior General of the Society of Jesus Diabolical Plan for a New World Order.

1. The Superior General of the Jesuits The Black Pope, Adolfo Nicolas and his 6 generals control the “White Pope” Pope Benedict XVI and the Vatican.
2. The Illuminati, Zionists, globalist Elites, Council on Foreign Relations, Bilderberg group, Freemasons, Council of 300 and the evil Council of Trent.
3. The Jesuits control the Knights Templar, Knights of Columbus and the Knights of Malta.
4. The CIA, FBI, NSA, ASIO, MI5, MI6, NCIS, FSB, DGSE, Mossad and every intelligence agency in the world are masonic and controlled by the Jesuits.
5. The Jesuits have infiltrated all governments & Leaders like Obama, Rudd, Blair, Jintao, Sarkozy, Peres are only puppets that carry out Jesuit orders.

The”NEW WORLD ORDER” is the GLOBAL TOTALITARIANISM dream that a BANKER called Mayer Amschel Rothschild, helped revive in 1760?s to protect his private bank from global government regulation. His grand blue print is best described by his paid social engineer called Dr. Adam [Spartacus] Weishaupt, Professor of Canon Law in the university of Ingolstadt. Weishaupt adopted the term “Illuminati.” This nightmare is still sought after today by their family’s decedents. Below is the ‘outline’ Weishaupt set out for his banker financier master! Carefully notice the similarities between Karl Marx’s 10 Plank’s of his Communist Manifesto and Weishaupt’s outline. Also, please read Communism & The New World Order.

The blue print for the NWO is:
* Abolition of all ordered governments
* Abolition of private property
* Abolition of inheritance
* Abolition of patriotism
* Abolition of the family
* Abolition of religion
* A global population of 500 million
* Creation of a world government

Mayer Amschel Rothschild 1828 “Allow me to issue and control the money of a nation, and I care not who writes the laws.” [Even a 4 year old can understand that people with control of money…write the laws!]

“Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.” – Woodrow Wilson

So who is this subtle, complete organized power that Wilson is talking about? The answer to that my friends is the Jesuits.

Who are the Jesuits you may ask? Arent they just missionaries, priests and general do-gooders who establish schools, universities and pride themselves in being pillars in the community? If so, then why was The Jesuit Order abolished in over 80 countries in 1773? J.E.C. Shepherd states that “Between 1555 and 1931 the Society of Jesus [i.e., the Jesuit Order] was expelled from at least 83 countries, city states and cities, for engaging in political intrigue and subversion plots against the welfare of the State, according to the records of a Jesuit priest of repute [Thomas J. Campbell]. Practically every instance of expulsion was for political intrigue, political infiltration, political subversion, and inciting to political insurrection.” They are overlords of chaos. In a nut shell the Jesuits are Warlords, Assassins, Teachers, Infiltrators, Tyrants. They tried their hand at global domination with the “League of Nations” but it failed, now they are trying again, under a new name…The United Nations, and its about to work!

What people are not understanding is that the Jesuits command the White Pope and the Vatican City, Obama /Bush’s/ Clinton’s / Blair’s / Peres/ Rudd / Jintao / Sarkozy / Medvedev (and frankly every government on earth) including the the evil Council of Trent, CFR, Illuminati, the Zionists, the Bilderberg group, the Freemasons, the Knights of Malta, the Knights of Columbus, the Knights Templar, Council of 300, and every intelligence organization in the world all have ties to the Jesuit Order and more specifically, the Superior General of the Jesuits known as The Black Pope Adolfo Nicolas who as of January the 19th, 2008 succeeded Peter-Hans Kolvenbach as the 30th Superior General of the Jesuit Order.

Additional Information:
http://wikicompany.org/wiki/911:Vatican_%26_Jesuits
http://wikicompany.org/wiki/911:Military_Order_of_Malta
http://wikicompany.org/wiki/911:Pilgrim_Society

SOURCE

Financial Sex Aid: Florida Co-Eds Seek “Sugar Daddy” for College Degree

Financial Sex Aid: Florida Co-Eds Seek “Sugar Daddy” for College Degree

Jorge Estevez

]
– People who are looking for the perfect match, both men and women, go online seeking a certain kind of arrangement.

A “sugar baby” is typically younger and eager for adventure. A “sugar daddy” is usually an older, financially established provider. A website called www.seekingarrangement.com helps the two meet.

CBS4?s Jorge Estevez found a 22-year old who is looking for her first sugar daddy. She is a Miami student looking for someone to help her pay for her higher education and all the related expenses.

A self-proclaimed, cute blonde who is looking for fun in Fort Lauderdale admits to being a college student looking for some help.

And another pretty, young Miami college girl, who does not want to be identified, is more direct, asking specifically for 10 to 20-thousand dollars monthly. The 22-year old claims to be looking for someone who will never say ”NO” to her needs.

“The lesson here… ask and you shall receive,” she told Estevez.

“What have they given you?” asked Estevez.

“They have given me cars, trips, jewelry. These guys will take you out and they will court you,” she responded.

Jorge asked “What do these guys do for you?”

“They support you financially… financially,” she replied.

Support is proving to be crucial for a 20-year old sugar baby, who is in college at Florida International University.

“Have they paid your tuition?” asked Estevez.

“Yes Jorge.”

“Books?” he asked.

“Books. Everything,” she responded. “When I say everything… I mean everything.”

In fact, her profile asks for someone to “help a young’in out”. And she is not alone. Numbers compiled by the “seeking arrangement” website showed that in the past six months, FIU ranked 20th in a list of the top universities with “sugar baby” sign ups.

Florida ranked third in the U.S. behind New York and California with 67,815 total users, of all ages. There are just over 1,000,000 and growing .

Our FIU student argued that it’s a way to survive the times.

“I don’t get support from my parents. As soon as I turned 18, they told me I am on my own. I have to figure everything out on my own Jorge.”

“And you discovered this? And you thought…?” asked Estevez.

“My dreams came true Jorge.”

“Your dreams came true,” he repeated.

Then his interview added, “But with every give… there is a take.”

“They give you trips. They pay for school. They give you presents. What do you give them?” asked Estevez.

“Sex,” said the FIU “sugar baby.”

“Just like that,” asked Jorge.

“Just like that,” she said.

“And you are OK with that?” Jorge probed.

“I am OK with that,” she replied.

But seeking arrangement, which began in 2006, insists they are not an escort service and specifies the terms of the relationship are left up to the two consenting users. Estevez spoke with the website’s founder, Brandon Lee.

“Why is this not like prostitution, since you mentioned it?” asked Estevez.

“We do not allow escorts or prostitutes to use the website. That is what I call a one or two-hour arrangement. It is not what this is about,” Lee said.

In fact, the website monitors profiles. They claim they shut down as many as 20-a day for alluding to inappropriate behavior.

“To make sure that terms such as hourly rate, in call, out call and terms like that aren’t used, we highlight them and catch them.

We put that question on the table for our “sugar baby.”

“What do you say to people who say this is a form of prostitution?” asked Estevez of our FIU student.

“That is not true,” she explained. “Prostitution is when you get paid for sex and that is just it. Sex. For this, you build a relationship with someone.”

It’s a relationship that begins online, a common practice nowadays, where one person logs on hoping to find another who is also in search of that perfect match.

“Years from now you are successful. What do you say to you about doing this?” Jorge inquired.

“They have money they want to help you. They see you struggling, They want to help you. Whether or not it is an arrangement… it is still a relationship,” the woman explained.

A match, found online, between two consenting adults looking for their own special arrangement.

So what is the ratio for these consenting adults? Well, most dating websites have more men than women. But at seekingarrangement.com, it’s the opposite. The ratio is 20 sugar babies to every one sugar daddy.

Seeking Arrangement is developing a mobile app for your smart phone and the website is going global with a Spanish language version and other languages.

SOURCE

Japan, Turkey, Poland, Mexico the Rising World Powers?

Japan, Turkey, Poland, Mexico the Rising World Powers?

Talk about taking the long view. Stratfor founder George Friedman takes a stab at predicting what the world will look like a hundred years from now in a provocative forthcoming book, The Next 100 Years.

Contrary to those who see the rise of China as the next major historical development, Friedman argues that the next century will continue to to be dominated by the United States.

There are many who predict that China is the next challenger to the United States, not Russia. I don’t agree with that view for three reasons. First, when you look at a map of China closely, you see that it is really a very isolated country physically. Second, China has not been a major naval power for centuries, and building a navy requires a long time not only to build ships but to create well-trained and experienced sailors.

Third, there is a deeper reason for not worrying about China. China is inherently unstable. Whenever it opens its borders to the outside world, the coastal region becomes prosperous, but the vast majority of Chinese in the interior remain impoverished. This leads to tension, conflict, and instability. It also leads to economic decisions made for political reasons, resulting in inefficiency and corruption.

The inherent power of the United States coupled with its geographic position makes the United States the pivotal actor of the twenty-first century.

Friedman sees Japan, Turkey, Poland and Mexico potentially emerging a major players on the world political stage.

With a history of militarism, Japan will not remain the marginal pacifistic power it has been. It cannot. Its own deep population problems and abhorrence of large- scale immigration will force it to look for new workers in other countries.

Turkey is a stable platform in the midst of chaos. The Balkans, the Caucasus, and the Arab world to the south are all unstable. As Turkey’s power grows — and its economy and military are already the most powerful in the region — so will Turkish influence.

Two factors make Poland’s reemergence as a world power possible.

First will be the decline of Germany. Its economy is large and still growing, but it has lost the dynamism it has had for two centuries. In addition, its population is going to fall dramatically in the next fifty years, further undermining its economic power. Second, as the Russians press on the Poles from the east, the Germans won’t have an appetite for a third war with Russia. The United States, however, will back Poland, providing it with massive economic and technical support. Wars — when your country isn’t destroyed—stimulate economic growth, and Poland will become the leading power in a coalition of states facing the Russians.

Finally, Mexico will be emboldened by the population bust in the developed world that will create a major labor shortage in advanced industrial countries, Friedman argues.

The United States will be competing for increasingly scarce immigrants and will be doing everything it can to induce Mexicans to come to the United States—an ironic but inevitable shift.

These changes will lead to the final crisis of the twenty-first century. As the Europeans slip out, the Mexicans, like the Turks, will rise in the rankings until by the late twenty-first century they will be one of the major economic powers in the world. During the great migration north encouraged by the United States, the population balance in the old Mexican Cession (that is, the areas of the United States taken from Mexico in the nineteenth century) will shift dramatically until much of the region is predominantly Mexican.

By 2080 I expect there to be a serious confrontation between the United States and an increasingly powerful and assertive Mexico. That confrontation may well have unforeseen consequences for the United States, and will likely not end by 2100.

SOURCE

Inflation 2011: Honey – They Shrunk Our Paychecks

Inflation 2011: Honey – They Shrunk Our Paychecks

Do you ever have the feeling that there are holes in your pockets? These days our money seems to slip through our hands faster than ever. The Federal Reserve keeps telling us that the rate of inflation in 2011 is “close to zero”, and this is causing confusion for many Americans because they are making just as much money as they did in previous years but it doesn’t seem to go nearly as far. So what in the world is going on out there? Well, sadly, the truth is that we really don’t even know what the government considers “inflation” to be anymore. The way that the U.S. government calculates inflation has changed an astounding 24 times since 1978. You see, it is always politically beneficial to have a low inflation rate, so recent administrations have been changing the formula constantly in an attempt to look good. But these days most Americans know something is up. All they have to do is stop at a gas station, go shopping for food or open up their bills. The reality is that inflation in 2011 is about as bad as we saw back in the 1970s, it is just that the government is much less honest about it now.

Many years ago Kenny Rogers released a song that contained the following lyrics….

You got to know when to hold em, know when to fold em
Know when to walk away and know when to run
You never count your money when you’re sitting at the table
There’ll be time for counting when the dealer’s done

Well, the U.S. middle class has been dealt a losing hand, but in the game of life you just can’t fold.

Over the past 3 decades, the average household income for the bottom 80 percent of Americans has been remarkably flat. In fact, over the past several years we have actually seen median household income decline several times. If you do not know about how the U.S. middle class is being ripped to shreds, just read this article. Without a doubt, America is getting poorer.

Well, not the top 1 percent, but the vast majority of the rest of us sure are.

Meanwhile, prices have started to rise with a vengeance.

According to an article in the Daily Mail, a Memorial Day cookout will cost you 29 percent more this year than it did last year.

That doesn’t sound good.

Will it be 29 percent more expensive again next year?

Perhaps some of us will just have to stop having Memorial Day cookouts because we can’t afford them anymore.

The price of gas is also digging into our paychecks big time.

A gallon of gas costs about a dollar more than it did a year ago, but we can’t avoid buying gas. All of us have got to get to work and drive to the store.

Sadly, each time the price of gasoline goes up 50 cents it takes about $70 billion out of the U.S. economy (on a yearly basis).

A recent article in USA Today described the kind of impact these high gas prices are having on average American families….

For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal.

Households spent an average of $369 on gas last month. In April 2009, they spent just $201.

But don’t worry, according to Ben Bernanke we barely have any inflation at all in 2011.

Some companies are trying to avoid raising their prices by reducing their package sizes. A recent article posted on Marketwatch entitled “Inflation diet: same price, less product” explored this phenomenon in detail. Millions of Americans are going to the supermarket and are finding that many of their favorite products are now 10 or 20 percent smaller and yet they are paying the same price as before.

Another thing that is happening is that product quality is going down. Have you noticed how things just don’t seem to be made the way that they used to? This is not a coincidence.

According a recent article on CNBC, retailers are skimping on quality as a way to deal with rising costs….

According to Global Hunter Securities Macro and Consumer Strategist Richard Hastings, retailers have been collaborating with their production contractors for about two years. They are trying to push back on the total volume, cost and weight of every unit.

“Along the way, the consumer barely noticed. By now, everybody knows something is wrong,” said Hastings. “If we had to put a number on it, it’s probably a 7.5% decline in total quality and durability of products compared to a bigger increase in the cost of production per unit made outside of the U.S.”

But no matter how hard companies try to hide it, at some point the American people are going to wake up and they are going to realize that they aren’t getting as much for their money as they were before.

This is why so many people get upset when the Federal Reserve and the U.S. government devalue our money. Inflation is a “hidden tax” on every single one of us. When our dollars don’t buy as much stuff, that means that we are all poorer than we were before.

All of this inflation is coming at a time when the economy is really struggling. Personally, I am seeing all kinds of signals that the economy is really starting to slow down once again.

What is going to make things even worse is all of the government austerity that is going to be implemented over the next couple of years.

Once upon a time, a government job was the safest kind of a job you could have. Sadly, as a recent Reuters article noted, those days are long gone….

Around 450,000 people who work for U.S. states, counties, cities, towns and villages could get pink slips in fiscal 2012, sharply up from the 300,000 positions shed this year, a report said on Monday.

So should we, as many of our liberal friends insist, tax the rich so that we can pay for all of those government workers?

Well, the truth is that the wealthy are already being taxed into oblivion. If you doubt this, just read this editorial in The Wall Street Journal: “A 62% Top Tax Rate?”

Most of the “ultra-wealthy” have learned how to avoid most of this taxation by moving their wealth offshore. In fact, as I have written about previously, it is estimated that a third of all the wealth in the world is now held in “offshore” tax havens.

So why are we seeing so much inflation right now?

Well, I covered that in my previous article entitled “When Faith In U.S. Dollars And U.S. Debt Is Dead The Game Is Over – And That Day Is Closer Than You May Think“.

The Federal Reserve and our politicians in Washington D.C. have been very naughty. They have been systematically destroying the value of our dollars.

Someday when you are using your money as toilet paper because toilet paper is actually much more valuable than dollars are you will wish that the American people had stood up and insisted on a different path.

Don’t laugh – during the hyperinflation that the Weimar Republic experienced in the 1920s, German citizens were actually burning stacks of money in their furnaces in order to keep their homes warm.

100 years ago, a U.S. dollar had more than 20 times the purchasing power than it has today.

Sadly, we are now in a terminal phase of dollar devaluation. It is only going to get worse from here. Someday we will look back and long for the days of “low inflation” that we had back in 2011.

SOURCE

Good Economic Numbers? Don’t Be Fooled By The Financial Sugar High

Good Economic Numbers? Don’t Be Fooled By The Financial Sugar High

The U.S. financial system is like a junkie that needs continually increasing amounts of “junk” to get the same “buzz”. So what is the U.S. financial system addicted to? It is addicted to money and debt. For many years, whenever the Federal Reserve would lower interest rates or the U.S government would borrow and spend more money, the U.S. economy would respond positively. But just like with any other kind of artificial stimulation, over time it has taken greater and greater amounts of debt and cheap money to get a response from our economic system. So yes, the fact that the official unemployment rate went down 0.1% last month is good news, but considering the massive amount of spending that the U.S. government is doing and considering the gigantic quantity of money that the Federal Reserve is injecting into the financial system, the truth is that the unemployment rate should be falling much faster than that. So don’t be fooled by the good economic numbers and don’t be fooled by the financial “sugar rush”. The U.S. government and the Federal Reserve have been pulling out all the stops to stimulate the economy, and the fact that all of their efforts are barely moving the unemployment rate at all is an indication of just how far our economic situation has degenerated.

Many in the mainstream media were extremely excited when the U.S. Bureau of Labor Statistics announced that the U.S. unemployment rate declined to 8.8% in March. U.S. stocks soared as investors enthusiastically welcomed the news. But should we all really be jumping up and down over this?

The truth is that some other measures show that the unemployment situation in the United States is becoming worse.

According to Gallup, the number of Americans that are either unemployed or working part-time but desiring full-time work actually rose from 19.8 percent in February to 20.3 percent in March.

So let us not get too excited about the employment situation. Yes, unemployment is not spinning wildly out of control at the moment and that is good news.

However, when you look at the larger picture things look rather grim.

What the U.S. government and the Federal Reserve have been doing is that they have been mortgaging our future big time for short-term economic gain.

This year alone, the U.S. government is going to run an all-time record budget deficit of approximately 1.6 trillion dollars. By borrowing 1.6 trillion dollars that we do not have and spending it into the system, it does stimulate the economy.

There are some members of Congress that would like to implement substantial budget cuts, but most members of Congress fear doing too much budget cutting right now because it would “harm the economy”.

And you know what? They are right – budget cuts would harm our economy in the short-term.

But continuing to pile up all of this debt is setting the stage for an absolute economic nightmare in the mid to long term.

We have lived far, far beyond our means for decades, and most of our politicians are acting like this can go forever.

But tell me, does anyone out there actually believe that we can keep expanding the national debt like this indefinitely?….

Yes, government spending does stimulate the economy. The Keynesians are right about that.

However, by accumulating a national debt that is spinning wildly out of control, we have completely destroyed the economic future of this nation.

The Federal Reserve has been very busy trying to stimulate the U.S. economy as well.

Over the past couple of years, the Fed has been injecting massive amounts of money into the financial system. The theory is that the financial system will loan this money out to the American people and that will stimulate the economy and create more jobs.

Well, that may very well be true to a certain extent in the short-term, but as I wrote about yesterday, in the long-term this is going to create a substantial amount of inflation.

The chart posted below cannot be emphasized enough. It shows how the Fed has dramatically increased the size of the adjusted monetary base since mid-2008….

Yes, all of this new money will stimulate economic activity, but it is completely and totally ludicrous for Ben Bernanke to attempt to deny that this is also going to cause significant inflation.

So when taking a look at the economic numbers, it is absolutely critical to keep in mind that our “authorities” have pushed all the chips to the middle of the table in an all-out attempt to stimulate the economy in the short-term.

The small economic “sugar rush” that we are experiencing right now is all we have gotten out of it so far.

Sadly, this is about the best that the U.S. economy is going to do from now on. Things really are not going to get much better than this.

Yes, unemployment numbers might come down a little more, but pretty soon inflation is going to really kick in and that is going to have a really negative impact on tens of millions of Americans.

First of all, when inflation really starts taking off it is going to be absolutely devastating for those on fixed incomes. Many of them will be completely wiped out.

Secondly, those that do have jobs are going to find that their incomes are not nearly keeping up with inflation.

In fact, we are seeing this starting to happen already.

According to the Bureau of Labor Statistics, U.S. workers in the private sector only saw their pay increase by 2.1% during 2010.

So did what we are paying for food and gas only go up 2.1% in 2010?

Of course not.

So are things getting better so far in 2011?

No.

One of the depressing things about the new numbers released by U.S. Bureau of Labor Statistics was that wages for U.S. workers did not increase in March.

According to the BLS, the average U.S. worker earned $22.87 an hour during the month of March, which is exactly the same number we saw in February.

So inflation is going up and wages are staying flat.

That means that American family budgets are going to be squeezed even more.

In addition, the numbers from the BLS show that it is still incredibly difficult to get a job. In fact, the average length of unemployment in the U.S. is now an all-time record 39 weeks.

So is anyone doing well right now?

Well, yes – as I have written about previously, those at the very top of the food chain are doing quite well these days.

According to USA Today, median CEO pay soared 27 percent during 2010. For the year, median CEO pay was a stunning $9.0 million.

Wouldn’t you like to be making 9 million dollars a year?

According a recent report by CNN, the 25 highest-paid hedge fund managers in the United States combined to bring in an astounding $22.07 billion in income during 2010.

Wouldn’t you like to get just a small piece of that?

All of the measures that the government and the Federal Reserve are using to stimulate the economy are causing tremendous distortions in our financial system.

Wall Street is absolutely swimming in cash right now. There are some people that are making obscene amounts of money.

But ultimately the party is going to end for all of us.

It has been incredibly foolish for the government and the Fed to go “all in” in a desperate attempt to boost short-term economic numbers.

Our long-term economic future is completely gone. Our financial system is heading for a horrible collapse. It is not a matter of “if” it will happen, but rather “when” it will happen.

You better buckle up and get ready.

http://theeconomiccollapseblog.com/archives/good-economic-numbers-dont-be-fooled-by-the-financial-sugar-high

UN, IMF, China, Russia, France….Iran…..I think we are going to have a new currency

UN wants new global currency to replace dollar

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world’s monetary system since the Second World War.

Crumpled dollar bill - UN wants new global currency to replace dollar

A number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency
By Edmund Conway, Economics Editor 6:45PM BST 07 Sep 2009

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.

It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration.

Although a number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment.

“Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability,” said Detlef Kotte, one of the report’s authors. “But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund.”

The proposals, included in UNCTAD’s annual Trade and Development Report , amount to the most radical suggestions for redesigning the global monetary system.

Although many economists have pointed out that the economic crisis owed more to the malfunctioning of the post-Bretton Woods system, until now no major institution, including the G20 , has come up with an alternative.

http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-global-currency-to-replace-dollar.html