Here Is Obama's Budget Director

Listen to what this guy has to say. He doesn't include the interest payments as part of the budget. WHAT!

Pale Horse Riding In Egypt

I don't know if this has been "doctored" so look for yourself. My personal belief though, is that since it was apparently captured on a camera live on MSNBC it has not been "doctored". Now, I guess it is possible that someone had tapped into the live feed and placed the image on there for the world to see. Anything is possible in today's digital world. Look for yourself.



If this video is real, and I'm not sure that it is, we all should look at Isaiah 19 (NAS) 1.The oracle concerning Egypt. Behold, the Lord is riding on a swift cloud and is about to come to Egypt; The idols of Egypt will tremble at His presence, And the heart of the Egyptians will melt within them. 2."So I will incite Egyptians against Egyptians; And they will each fight against his brother and each against his neighbor, City against city and kingdom against kingdom."
Many on the internet are saying that this image is a smudge or a reflection or even a rain drop (although it wasn't raining then). Why is it there and then it's not? I don't think it is a smudge as it just shows up and then it's gone. As far as a reflection goes, the image goes behing a light pole and people at some point. A reflection doesn't go behind objects. Here is the link to the original MSNBC video which captured this object. The video runs for over 14 minutes, but the object can be seen at about 10:27. The two little "reflections" that can be seen following the "horseman" can also be seen at about 9:57. It is interesting though that the object seems to move when the camera pans, so I'm not sure what this object is. Did the cameraman see the object in his viewfinder and follow it as it moved, or did the cameraman move the cameraa and the object moved with the camera (hence depecting a reflection). I cannot explain why objects are seen "in front of" this object though.

If you believe it is a sign, then you probably already know that the book of Revelations speaks to the four horsemen, with the fourth horsemen riding on a "pale" horse. The greek translation though describes the color a "chloros" which stands for green. The forth horseman also is the horseman of death. Here is a link to Wikipedia about the Four Horsemen of the Apocalypse.

What about the thousands of dead birds falling from the sky, thousands of dead fish washing ashore around the globe, and countries rioting. I am not a theologian, but these are strange things happening all at once. We are living in strange times. If you are not saved, then I would say that you need to get right with God. If you are saved, well you have nothing to worry.

All of us should Prepare...

Is Another Financial Crash Certain?

After reading this article, it would seem we are in serious financial trouble.

Why Another Financial Crash is Certain

Here is some excerpts. Look at some of the numbers the author quotes. I had not heard of number this high!

On August 9, 2007, an incident took place at a bank in France that touched-off a financial crisis that that would eventually wipe out more than $30 trillion in capital and thrust the world into the deepest slump since the Great Depression. The event was recounted in a speech by Pimco's managing director Paul McCulley, at the 19th Annual Hyman Minsky Conference on the State of the U.S. and World Economies. Here's an excerpt from McCulley's speech:

"If you have to pick a day for the Minsky Moment, it was August 9. And, actually, it didn’t happen here in the United States. It happened in France, when Paribas Bank (BNP) said that it could not value the toxic mortgage assets in three of its off-balance sheet vehicles, and that, therefore, the liability holders, who thought they could get out at any time, were frozen. I remember the day like my son’s birthday. And that happens every year. Because the unraveling started on that day. In fact, it was later that month that I actually coined the term “Shadow Banking System” at the Fed’s annual symposium in Jackson Hole.

“It was only my second year there. And I was in awe, and mainly listened for most of the three days. At the end....I stood up and (paraphrasing) said, ‘What’s going on is really simple. We’re having a run on the Shadow Banking System and the only question is how intensely it will self-feed as its assets and liabilities are put back onto the balance sheet of the conventional banking system.’”

Subprime was the spark that lit the fuse, but subprime wasn't big enough to bring down the whole financial system. That would take bigger ructions in the shadow banking system.  Here's an excerpt from an article by Nomi Prins which explains how much money was involved:

"Between 2002 and early 2008, roughly $1.4 trillion worth of sub-prime loans were originated by now-fallen lenders like New Century Financial. If such loans were our only problem, the theoretical solution would have involved the government subsidizing these mortgages for the maximum cost of $1.4 trillion. However, according to Thomson Reuters, nearly $14 trillion worth of complex-securitized products were created, predominantly on top of them, precisely because leveraged funds abetted every step of their production and dispersion. Thus, at the height of federal payouts in July 2009, the government had put up $17.5 trillion to support Wall Street's pyramid Ponzi system, not $1.4 trillion." ("Shadow Banking", Nomi Prins, The American Prospect)

Dodd-Frank – the financial reform act -- is riddled with loopholes and doesn't really resolve the central issues of loan quality, additional capital, or risk retention. Banks are still free to issue bogus mortgages to unemployed applicants with bad credit, just as they were before the meltdown.

President Barack Obama understands the basic problem, but he also knows that he won't be reelected without Wall Street's help.  That's why he promised to further reduce "burdensome" regulations in the Wall Street Journal just two weeks ago. His op-ed was intended to preempt the release of the Financial Crisis Inquiry Commission's (FCIC) report, which was expected to make recommendations for strengthening existing regulations. Obama torpedoed that effort by coming down on the side of big finance. Now, it's only a matter of time before another crash.

So, between $4 to $7 trillion vanished in a flash after Lehman Brothers blew up.

Ironically, the New York Fed doesn't even try to deny the source of the problem; deregulation. Here's what they say in the report: "Regulatory arbitrage was the root motivation for many shadow banks to exist."

What does that mean? It means that Wall Street knows that it's easier to make money by eliminating the rules....the very rules that protect the public from the predation of avaricious speculators.

The only way to fix the system is to regulate all financial institutions that act like banks.  No exceptions.

After reading the whole article you will see why we are still up to our eyes in trouble.

Prepare.....

4 Quarter GDP Up by 3.2%??? Clear The Smoke And Look For Yourself.

Well, the government media folks are pumping up the 3.2% increase in GDP, but they aren't telling you the whole story, or as the late Paul Harvey would say..."the rest of the story".

Read these two short articles and determine for yourself what is really happening.

The first by CNBC
Economy Grows at 3.2% Pace, Pushed Up by Sales Spike

And the other by The Market Ticker Guy, Karl Denniger
4Q GDP: Is That Daylight, Or A Headlight?

It is explained quite well by Mr. Denniger....

Social Security In The Red

It wasn't supposed to happen this soon. In 2010 the Social Security Trust Fund went in to the red, but it was expected to return to the black until 2016. It is now being reported that it will stay in the red and will go bankrupt by 2037. This year alone, it is expected to run a $45 billion deficit.

Don't count on Social Security to be there when you need it.

Detroit Public Schools may need to close up to half of their schools.

DPS considered but declined to file for bankruptcy in 2009. In the past year, debt in the district has increased by more than $100 million, brought on by a mix of revenue declines in property taxes, reduced state aid, declining enrollment and an unplanned staffing surge this past fall.

Firefighters began turning in their helmets and police officers their badges Tuesday as part of deep municipal layoffs destined to further erode the quality of life in Camden, already one of the nation’s most impoverished and crime-ridden cities...As many as 383 workers, representing one-fourth of the local government work force, are expected to lose their jobs, including about half the police force and one-third of the city’s firefighters...Located directly across the Delaware River from Philadelphia, Camden is rampant with open drug-dealing, prostitution and related crimes. More than half of Camden’s 80,000 residents, mostly black and Hispanic, live in poverty.


We will be seeing more of this in the future. What do you think the crime will do in Camden?

Illinois Raises State Tax by 66%

The Illinois government has decided to raise State taxes 66% from 3% to 5%. Now that doesn't sound like much, just 2%, but it will take more money fro the people that are already strugling. I hope we don't see Federal taxes rise, although I feel it will be likely that they will at some point.

Illinois Lawmakers Approve 66% Tax Hike.

http://video.chicago.cbslocal.com/global/video/popup/pop_playerLaunch.asp?vt1=v&clipFormat=flv&clipId1=5461547&at1=Political&h1=Illinois

Another One Bites The Dust

I'm afraid we will be seeing four or more cities/states defaulting on their obligations.

The city of Chowchilla defaults on a bond.

But at least one business is doing well...

"But his Brock Locksmithing has weathered the storm, meeting a frenzy of demand from lenders. "I'm optimistic," said Brock, 66, who was on his way out the door Thursday to re-key another foreclosed house for another bank. "But I think it's going to take a little while."

What Will Happen?

Have you thought about what will happen if Congress does not raise the National Debt limit? There will be cutbacks that will have to be made. We will not be able to continue to fund many programs...Social Security, Medicare, Medicaid, Food Stamps, etc as the list could go on. Where or where will the cuts be made if that happens. Wherever the cuts are made, even if it is a little from each entitlement program, it will be painful. There are going to be people that are going to be very upset. There will be people that will be violent. Are you prepared for that if it happens?

You might say, well then we should raise the limit. Well, where do we draw the line?  $15... $17... $20 Trillion. Whenever we come to grips that we have to draw the line, whatever the number, it will be painful. The day is coming, I believe, that America will have some hard choices to make. It won't be pretty.



Get prepared.

$14 TRILLION NATIONAL DEBT!!

How long can it continue. The CONgress will be voting soon to raise the National debt level which currently sits at $14.3 Trillion.
http://www.usdebtclock.org/