The U.S. Economy Hits Another Massive Decline Under Obama's Watch

Barack Obama

Financial data released this week reveals, the U.S. economy has hit another wall, plunging deeper into difficulty. Unemployment has sharply risen again, the dollar has fallen in the world against other currencies it once dominated, the national deficit continues to climb to alarming levels, foreclosures are up and home values are so far down, they have become worse than Great Depression levels. That is not a good financial profile.

In response to the bad financial news this week, President Obama stated the nation had hit a bump in the road to recovery. No, that wasn't a bump. That was a sinkhole. It happened due to your administration's financial policies that are not working.

The national numbers painfully and irrefutably indicate, President Obama has failed to fix or stem, the significant problems plaguing the U.S. economy. America cannot take 5 and ½ more years of this current path - via a reelection - or the economy will hit the point of no return.

In fact, mainstream newspapers are openly stating the continued poor state of the economy will destroy Obama's reelection bid. He is refusing to change course, while people are suffering due to the economy, with things getting worse, not better.

Regrettably, President Obama has ignored sound advice and serious warnings on the economy, opting to spend and borrow massive sums of money the nation cannot afford. He has also pledged billions America cannot afford, for foreign regimes, some of which have dangerous ties.

Rather than taking the principled and proven financial path the Judiciary Report recommended, consisting of sensible budget cuts, increasing exports and a small 5% tax increase on the nation's rich, Obama has borrowed and spent enormous, head spinning sums of money, more than any other president in U.S. history. Why did he do this.

President Obama has refused to listen to logic or follow the principles of sound economics. Once again, you cannot spend your way out of debt. You have to be diligent, disciplined, work within what you have and make sacrifices.

I know of what I speak in the matters of finance. I was the first one to predict the current financial crisis in 2006 on the Sound Off Column and in the article Judiciary Report article How George Bush Destroyed The U.S. Economy. I retained my view, never wavering, even in the face of former President Bush, publicly insisting the economy is strong and nothing is wrong, then scampering out of office under a cloud of shame and failure.

In 2008, the world saw that Bush had been lying about the economy and I was proven correct in my claims. Yes, I have websites read by many, but I am an everyday person that has been out there with the public, hearing people's concerns and writing about my own experiences. I am not an out of touch bureaucrat living the champagne lifestyle, as quite a few in Washington due, unaware of what is truly happening in the world among the poor and middle class.

Where Bush made this mess, Obama is spreading it with unprecedented spending that is of a fruitless nature. His job creation plan failed miserably, as I warned in advance it would (Obama Calls For Job Summit). Just as I had predicted, stimulus money was later indiscriminately doled out to companies and organizations, with no proper oversight to make sure the money was spent wisely, to create the maximum number of jobs.

There are many instances of gross waste and largesse, regarding stimulus funds. For example, in one case, a stimulus recipient, received $750,000 in taxpayer money to employ people and only created TWO JOBS with said funds. If someone gave me $750,000 I could create 40-60 jobs of varying incomes. How said company only managed to create TWO JOBS is beyond me. This pattern repeated itself, because of poor government oversight.

One also cannot expect to have a thriving economy, when you look the other way to criminals in the marketplace, because they are your campaign donors and Obama has done just that. Said criminals are doing damage to the U.S. economy every day. America’s poor and middle class are being defrauded, robbed and gouged by people in the corporate sector who have no business being there. Obama, like Bush, refuses to lock them up and to the public's detriment.

While there are successful companies in corporate America, working hard and genuinely contributing to the economy. There are also ponzi schemers, fraudsters, thieves and fakes, who do not belong in the corporate structure, as their main course of business is robbing people and engaging in scams.

It is not right that the poor and middle class be robbed and gouged to underwrite the lavish lifestyles of corporate criminals, who are a disgrace to the business sector. As long as said criminals remain in the corporate sector, the U.S. economy will not recover. The government needs to separate the wheat from the chaff or the entire financial crop will continue to be destroyed.

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U.S. President Barack Obama Meets With China's President Jintao

U.S. President, Barack Obama, met with Chinese President, Hu Jintao, to discuss politics, economics and human rights. Obama is opposed to China's currency, the Yuan, remaining "artificially low" as his administration puts it, stating it grants an unfair advantage.

At the end of the day, both sides need to work together. President Obama must realize China is enjoying this time of unprecedented prosperity for their nation and does not want to do anything to tamper with that formula for success.

What Is Obama Going To Do About The Deficit

Roadblock To Recovery

Barack Obama

The U.S. national deficit is approaching $14 trillion dollars. Under the Obama Administration, national debt has grown more than any other presidency in history. This is a very dangerous roadblock to recovery.

The nation cannot get back on its feet financially with this unprecedented, massive spending taking place on a regular basis in Washington. Where is the money going to come from to expunge this heinously high debt.

If this keeps up, the U.S. dollar will be of no significant value in the world and the economy will be negatively impacted for generations to come. There needs to be a turnaround in this situation.

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Cost Of Obama's Latest Bill = $1 Trillion

Barack Obama

The price tag on President Barack Obama's latest initiative is ringing up at an enormous $900 billion dollars. The measure has passed in the Democrat dominated Senate and now faces the Republican led House of Representatives. As if the national deficit has not taken enough of a beating and toll on the economy. This latest sum is going to send it up even higher and damage the dollar and nation's international financial ratings.

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Tax cuts move ahead in Senate

Dec 14, 2010 01:26AM - WASHINGTON — The controversial $900 billion tax package President Obama negotiated with Republicans cleared a major hurdle in the Senate on Monday, setting the stage for passage later this week. The fate of the legislation in the House is uncertain.

http://www.suntimes.com

The Move Behind The Dollar Dump

Barack Obama

Some do not understand China and Russia's move in dumping the U.S. dollar as its official international currency, but it was done out of apprehension at unwieldy Washington spending, corruption in the corporate sector and the government's unwillingness to clean it up, which is endangering other nations' investments in America.

For years the Judiciary Report has published articles imploring the government to clean up the corruption in the corporate sector or it would produce terrible international consequences. However, President Obama, like President Bush before him, decided to protect wealthy corporations and rich individuals that are campaign donors, to very negative results.

Imagine for a second that the U.S. government is a corporation, represented by a man that contacts you stating, he is from an investment company, seeking your capital (money). He begins a sales pitch requesting you invest your hard earned cash with his company.

He tells you his investments are safe and will earn you lots of money. Then, you see him go out and spend money recklessly on unnecessary things, whilst getting into unprecedented debt. Witnessing this, you decide to limit any further damage to yourself and get out while you can with what's left of your money.

When you invest with someone, you want to see them keeping overhead as low as possible and making astute and prudent business decisions. You do not want to see them indiscriminately throwing money all over the place, running up massive debt and trying to convince you to do the same, when economic history illustrates that does not lead to prosperity.

In short, this is what has been happening on the international stage. Former President Bush spent so much money and current Commander-in-Chief, Barack Obama, has spent four times that amount, adding trillions to the national deficit, alarming international governments and investors. In spite of all this spending, the U.S. economy is still in a sinkhole. There are no proven results or method to the madness, as the phrase goes.

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China And Russia Dump The U.S. Dollar

China And Russia Dump The U.S. Dollar

Russia's Vladimir Putin and China's Premier Wen Jiabao

In a sad but foreseeable turn of events, China and Russia have dumped the U.S. dollar as their nation's international currency of choice. The U.S. greenback was universally accepted as the world's official currency. However, the global economic downturn that began in America in 2008, due to corruption and fraud in the corporate sector, has caused a number of nations to rethink their financial strategies, as a means of protection.

This news does not bode well for the dollar. For well over a year, the Judiciary Report repeatedly warned that excessive Obama Administration spending, coupled with the rampant fraud in the corporate sector, which the FBI and SEC refuses to clean up, would have disastrous effects. This is just the tip of the iceberg.

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World Makes A U-Turn On Obama

Barack Obama - will it be "talk to the hand" or goodbye in 2012

World governments and international financial analysts have denounced the economic policies of U.S. President Barack Obama, as fiscally unsound and unproductive, posing a great danger to the global economy. Nations such as China, France, Germany and Brazil have publicly decried his financial initiatives.

Just two years ago, Obama was a Hollywood styled, rock star president, who seemingly could do no wrong. Now his poll numbers, much like the economy, are in the toilet. His spendthrift policies has devalued the U.S. dollar's influence in the world, with nations calling for it to be scrapped as the international currency of choice.

Fake television news anchors, Stephen Colbert (left) and Jon Stewart (right)

The Judiciary Report has no confidence in the Obama Administration's economic plans, as it greatly lack financial acumen and astuteness. An alarming report was released recently, stating Obama's Treasury Chief, Timothy Geithner, sought financial advice for the nation from Jon Stewart, an unoriginal, fake television news anchor.

Are you crazy. Has the government lost its ever loving mind. The man is a nincompoop with no understanding of economics or global politics. Much like the other day, Obama had actor, George Clooney, in the White House to discuss politics. This is insanity. However, once again, Hollywood is tanking the Democratic Party and damaging America in the process. Inmates running the asylum.

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Obama Under Siege

Barack Obama

U.S. President Barack Obama is under siege. China, Brazil and Germany have spoken out against his plan to initiate $1 trillion dollars in money printing, in a faulty attempt at solving the U.S. financial crisis. It seems all Obama has done for almost two years is throw money at the problem, taking America deep into debt, yet the economy keeps getting worse.

The U.S. Republican Party is upset and plans are underway to rein in the wild spending, as it makes absolutely no sense to anyone with an understanding of economics. Why Obama persists on this path is anyone's guess.

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Obama Administration Devaluing The Dollar

Barack Obama

The Obama Administration has been slyly devaluing the U.S. dollar, during the current financial crisis, attempting to challenge China in the world of commerce. This is a bad idea. China's financial dynamic is completely different from America's, which enables them to keep their currency low.

They are the world's top exporter of goods and the cost of living and wages are lower than in America. Playing with the U.S. dollar or attempting to force China to increase the value of its currency, the Yuan, will not repair the financial depression in America.

United States Of China?

Barack Obama

A very sobering article was published yesterday by mainstream outlet CNBC, stating China essentially owns America, due to the massive amount of debt the nation has accumulated and the interest that is steadily being accrued. However, U.S. President, Barack Obama, is still spending very large sums of taxpayer money on fruitless endeavors, while America owes China $1 trillion dollars and counting.

No disrespect intended to China, as they work hard for their money, producing goods and services the world enjoys, but Bush and Obama's financial imprudence is threatening America's sovereignty, as any nation that accumulates too much debt and cannot pay its bills, is at risk of going under and collapsing.

If the Obama Administration continues this massive spending campaign, the nation will no longer be able to afford a federal government, with everything being handled on a state level.

The Obama spending spree and money printing run needs to stop. Furthermore, devaluing the U.S. dollar is not going to fix the financial crisis. Once again, the U.S. government is spending too much money and to very poor results. The government should have concentrated on cost cutting and paying down the national debt, as now the nation's sovereignty is in jeopardy.

I predicted the 2008 financial crisis two years before it happened and the Judiciary Report has been publishing a message of government thrift, debt reduction and corporate production for over three years, but the so-called powers that be in Washington, still don't get it and probably won't, until the damage is so extensive, the American way of life is completely gone.

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U.S. Economy Stalls Again

U.S. President Barack Obama

Based on released reports, the U.S. economy has stalled again, as consumer spending is down and unemployment continues at a rampant rate. Economists estimate, if the economy adds roughly 500,000 jobs per month, it will still take 5-years to lower the unemployment rate to 5%, indicating the damage is that extensive.

Much of the damage was done during the Bush years and to save face, fake financial data was released to cover what was truly transpiring, with the corrected figures released this year.

However, President Obama has squandered opportunities to add the maximum number of jobs possible, due to poor oversight of where stimulus funds landed.

Some of the money was wasted via overpaying for job positions, decreasing the number of people that could have been hired with the stimulus funds available. In other instances, the funds were flat-out stolen or misappropriated.

This is not Monopoly. The President cannot rely on consistently printing up more money in a bid to solve the nation's financial ills, as it is damaging America's international credit rating, drastically increasing the deficit and damaging the U.S. dollar. That money is not free. It is coming at a price. The massive government spending is not working.

Obama, China And The Yuan

Chinese President Hu Jintao and U.S. President Barack Obama

U.S. President Barack Obama is still pressuring global titan, China, to change the value of its currency, the Yuan, which is an unbelievable request. China has maintained its position that it will not budge on this matter.

Once again, President Obama needs to focus on the U.S. economy and stop interfering in other nation's policies. That's what placed former President Bush firmly in trouble.

The way back for America in this financial crisis, is not for the government to tell others to take a step down, but for Washington to work with the nation in taking a step forward.

U.S. Economy Still In Free Fall

Foreclosures Spike Again, Deficit Higher Than Expected, Dollar Decimated

More proof illustrating the economy is still heading in the wrong direction, due to massive spending, surfaced this week, with the news the U.S. dollar is no longer the preferred world currency reserve. Now comes word, foreclosure filings in America have spiked yet again, reaching new record highs.

The U.S. deficit also set another record this week, matching and surpassing Great Depression levels, much like the astounding foreclosure rates.

Once again, the Judiciary Report, would like to emphasize, the solution to the crisis is the government saving money, not spending it.

Deficit Hits $1.4 Trillion, Complicating Stimulus Plans

Published: October 16, 2009 - WASHINGTON — The Obama administration said Friday that the federal budget deficit for the fiscal year that just ended was $1.4 trillion, nearly a trillion dollars greater than the year before and the largest shortfall relative to the size of the economy since 1945...

The shortfall for the fiscal year 2009, which ended Sept. 30, translates to 10 percent of the economy, according to a joint statement from the Treasury secretary, Timothy F. Geithner, and the director of the Office of Management and Budget, Peter R. Orszag. For the 2008 fiscal year, the deficit of $459 billion was 3.2 percent of the economy, as measured by the gross domestic product.

Economists generally agree that annual deficits should not exceed 3 percent of the G.D.P., and that is the level President Obama had vowed to reach by the end of his first term in 2013.

But subsequent spending and tax cuts to stimulate the economy, and lower-than-expected revenues as the recession deepened before bottoming out, combined to push the administration’s deficit forecast to 4.6 percent of G.D.P. for the fiscal year 2013.

At 10 percent of the gross domestic product, the 2009 deficit is the highest since the end of World War II, when it was 21.5 percent. At that level, it already has become a bigger economic and a political issue than any time since the late 1980s...

http://www.nytimes.com

Why Obama's Housing Rescue Hasn't Prevented Record Foreclosures

Fri Oct 16, 9:53 am ET - After taking withering criticism for the Department-of-Motor-Vehicles pace of its initial efforts to keep struggling borrowers out of foreclosure, the Obama administration proudly announced last week that it had hit its goal of 500,000 trial loan modifications almost a month ahead of schedule. But with the foreclosure rate hitting a new record in the third quarter, the government's ability to put a meaningful dent in the tally of housing-crisis victims faces renewed skepticism.

Foreclosure filings were reported on 937,840 homes in the three-month period, a 23 percent jump from a year earlier, according to a report real estate firm RealtyTrac released Thursday. Home foreclosures in September, meanwhile, decreased 4 percent from August but remained 29 percent higher than a year earlier...

http://news.yahoo.com

U.S. Dollar Out As World Reserve Currency

The Decimation Of The Dollar

The U.S. dollar deteriorated again this week, as banks worldwide reportedly opted to make the Euro and the Yen their reserve currency. The Judiciary Report has been warning for the better part of the year, about the dangers of the U.S. Treasury printing up excessive sums of money and the inflationary and budgetary risks it poses.

U.S. President Barack Obama

This was a time for the government to save, not spend. A tax increase of a few percent on the rich, would have brought in more government income, to balance things out. The government is piling up too much debt with too little income to compensate for the drastic spending.

Dollar loses reserve status to yen & euro

Last Updated: 3:16 AM, October 13, 2009 - Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.

Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital. The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.

Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund. Bernanke could go down in economic history as the man who killed the greenback on the operating table.

After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.

"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."...

Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency...

http://www.nypost.com

U.S. Economy Worsening Again

U.S. First Family the Obamas

The U.S. economy is worsening again. According to reports, the economy continues to lose jobs at a rapid rate and the U.S. government continues to print up too much money, which threatens the value of the dollar, creating prime conditions for inflation.

Overspending has positioned the nation to face a longer economic downturn, as there is no such thing as free money when it comes to a world government. That money has to be recouped somehow or it will create serious problems on the national balance sheet.

The United Nations is also pondering the idea of a one world currency, which I dislike. It will not solve the world's financial woes, only devalue some nations' money.

UN wants new global currency to replace dollar

Published: 6:45PM BST 07 Sep 2009 - 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

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...

http://www.telegraph.co.uk