Personal Message from Devvy Kidd
Updated: April 4, 2008
The Bush Administration and Ben Bernanke, Chairman of the privately owned Federal Reserve Banking System have finally come clean: the recession is well underway and it's only going to get worse. Economists not on the payroll of the federal government are trying to warn Americans that we are already dipping into a depression because the numbers don't lie:
The $53 TRILLION dollar asteroid
Unfortunately, many Americans are being deceived into believing the so-called 'economic stimulus package passed by Congress and signed off by Bush in January 2008, is somehow going to bring relief to the American people.
Do Americans remember Bush's last 'economic stimulus package?'
http://archives.
Bush pushes for economic stimulus package
WASHINGTON (CNN) -- January 8, 2002 - Fresh from a holiday vacation at his Texas ranch, President Bush met Monday at the White House with his economic team and Federal Reserve Chairman Alan Greenspan to discuss ways to jump-start an economy in recession.
With Bush was Vice President Dick Cheney, making a rare appearance with the president. Since the September 11 terror attacks, the two have routinely kept different schedules as a safety precaution.
Bush convened the meeting just an hour after setting foot on the White House lawn, officially ending his 12-day holiday.
Speaking briefly with reporters, the president said he is optimistic that 2002 would be a better year for the economy than 2001, but was emphatic that he would continue pressing Congress to pass his economic stimulus package. The much-debated proposal would include assistance for unemployed workers and another round of tax cuts, and has run into Democratic opposition.
"We're making good progress on winning the war in Afghanistan, and we've got to make good progress in helping people find work," Bush said. "The question I'm going to ask, and the question I hope Congress asks is, How best to create jobs? What can we do to encourage economic growth so that people who want to work can find work?"
Bush said he would include an economic stimulus package in his fiscal year 2003 budget proposal, to be submitted to Congress next month.
While the House has passed a stimulus package that contains much of what the president wants, the administration has not fared so well in the Senate, where neither Republicans nor Democrats have been able to muster enough votes to get competing plans approved.
"We did make good progress on an economic stimulus package," a feisty Bush said when queried by a reporter. "We had a bill come out of the House of Representatives, and there was a bill that could have passed the United States Senate. There was enough votes. Had the bill been brought up on the floor, it would have passed.
"Along the way, there was an attitude that said, 'Maybe we don't need a package.' I happen to think we do need a package."
"I hope that when Congress comes back, they will have listened to their constituents and that Congress will realize that America, like me, is tired of partisan bickering -- that we ought to come together, we ought to unify around some sensible policy and not try to play politics," Bush insisted.
The president again made it clear, as he did during a weekend swing through California and Oregon, that he would resist any congressional efforts to delay or defer the $1.35 trillion tax-cut package passed last year. Either of those moves would be tantamount to a tax increase, he said.
"To change in the midst of the phasing-in of the tax-relief plan would send the absolute wrong signal to the economy and say ... we weren't serious about tax relief," he said. "Tax relief is a part of the economic recovery plan."
Bush conceded that the federal budget may go into the red if the administration has to finance the war on terrorism and homeland security without dipping into Social Security and Medicare money.
"I said to the American people that this nation might have to run deficits in time of war, in times of a national emergency or times of a recession," he said. "And we're still in all three."
Bush has roughly two weeks to get his administration's economic team working on a long-term strategy before Congress returns from its winter recess on January 23. He will likely preview his economic priorities, and his 2003 budget demands, during his State of the Union speech later that week.
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It didn't work then and it won't work this round. The situation has deteriorated expotentially and these Band Aids will not even make a ripple. Tragically, millions of Americans are going to suffer great financial hardship. I started warning people back in 1998 about the coming financial tsunami that is sweeping the country. Sadly, it is upon U.S.
I encourage you to give Eric Levinson a call at El Dorado Gold. He is an expert in the field of protecting your assets and there is no obligation. Owning gold is an investment that never loses its value. It contains important information and data that could mean the difference for you and your family. My husband and I got out of the stock market in 1987 when we took a small bath. Never again. Gold is always king.
Click here to go to El Dorado Gold's web site.
"If we run into such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers.
December 28, 2007
Americans are on information over load, but it is imperative everyone understand exactly how deep the sub prime melt down and corruption of our currency is going to affect their future. It's not a matter of if a recession is going to happen - it's already underway. A recession is the precursor to a depression when things are so bad, no Band Aid is going to stop the hemorrhaging. '08 is not going to be pretty.
The sub prime melt down is a manifestation of corrupted banking policies and Americans getting in over their heads. The beast (the privately owned Federal Reserve) is now eating itself and the consequences are going to be dire for the people of this country. Inflation is already hitting the middle class and the poor. It will increase, make no mistake about that. Americans are already feeling it at the grocery store and along with the cost of oil, it's only going to get worse.
Economic Stimulus Package: Macabre Waltz Into the Abyss
My visit to a tent city in Ontario, California: http://www.newswith
I have written many, many columns about the coming financial tsunami over the coming "baby boomers" retiring - some 77 MILLION of them beginning in '08 right off the bat. Think about this: What happens when a person retires? Let's take a man who makes $200,000 a year. His retirement set aside with social security is $50,000 a year. Right there just one person's income decreases by $150,000. The thieves at the IRS will now tax that individual at $50,000 instead of $200,000. Same for states with a personal state income tax. Multiple that by the number of baby boomers getting ready to retire. Some with more retirement, others who will scrape by on social security and a small pension.
Get the big picture? Tax revenues will dwindle, but all this out of control spending by CON-gress and the state legislatures demands funding.
These are just a few of the current head lines:
Crisis may make 1929 look a 'walk in the park'
From Dr. Edwin Vieira
US braces for baby boom retirement wave
Americans 'walk' from loans
States chop '08 spending plans
This Is the Sound of a Bubble Bursting
Our economy is based on debt and debt is not prosperity. The economy needs you to stay in debt. A terrible formula for Americans. The U.S. Treasury is over drawn $9 TRILLION dollars as I write this and increases at a rate of $7 million dollars per minute. Every "dollar" being spent by Congress is a hot check with the worst to come: $45 trillion gap seen in US benefits
Where is mother government going to get this "short fall" from? Try this one: Congress Ignoring Looming Financial Catastrophe
I urge you to consider diversifying a portion of your portfolio or savings into gold because gold doesn't lie and it never loses it's value. Not in thousands of years. Visit www.eldoradogold.
Eric can answer your questions and help you in understanding what is best for your situation. His number in Florida is: 623.643.8785
Or, if you're closer to the Phoenix area and would rather deal with someone on your side of the country, call Harvey at: 928.227.2621; cell: 602.228.8203
Don't put off protecting your assets. Central banks around the world are scrambling and the banks are writing off hundreds of BILLIONS in losses.
It's not going to be a "happy" new year. Prepare for the worst, it's the smart thing to do.
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From: flohoff60@woh.rr.com