THE INTERNATIONAL FORECASTER
(Cont'd) We have never seen such disinformation
Thu Feb 5 18:42:04 2004
64.140.158.62

We have never seen such disinformation coming from the FED. Kansas City’s FOMC voter, Tom Hoenig urges when job growth accelerates, interest rates should rise to forestall inflation. If he has half a brain he knows employment is not going to increase and that inflation is 7-1/2% not 1-1/2%. Then Governors Bernanke and Gramlich agree rates should stay low until prices actually start to rise. Those men don’t live in Mars, they live in America and they are crass liars. They know what inflation really is. They are treating Americans to a stage show. FOMC voters do not make their own voting decisions, they are instructed how to vote. All the mumbo-jumbo of factions and positions on the FED and the FOMC is a fairy tale. The decisions are made ahead of time by those who instruct the international banks what to do. The whole process is window dressing. They would even have us believe that the dollar’s 30% drop against the euro will reduce import costs, when in fact; it has just the opposite affect. It raises prices and is inflationary. They must think we all are stupid. The lies go on day after day, but the American public doesn’t care; they can’t even balance their checkbooks.

The fourth quarter GDP only grew by 4%. The experts expected 4.9% and were wrong again. Consumer, government and business spending all slowed. The core personal consumption expenditure price index increased at an annual rate of 0.7% in the fourth quarter, the lowest quarterly gain since 1962 and just 1.2% for the year, matching a 38 year low. The latter figures are a figment of the BLS’s imagination. They are an absolute impossibility.

The Japanese spent $67.56 billion to stop the dollar’s fall versus the yen in January almost double the record figure of last September. Last year they spent almost $190 billion, supporting the dollar. Japanese officials are coming under fire from Europe, because their support of the yen is forcing money into the euro and we might add gold. The Japanese parliament will pass a budget for the current fiscal year, which will raise support form $188 billion to over $200 billion. For the next fiscal year, which begins April 2, 2004, the support figure is expected to be $136 billion but we can assure you it will be whatever the US FED wants it to be. The Japanese save and we squander their savings.

Lo and behold, we have been deceived again, but what else would you expect from the White House? The new Medicare law offering prescription drug benefits and private health plans to the elderly would cost at least $530 billion over 10 years or 33% more than when proposed for passage two months ago. We can guarantee you it will cost over $1 trillion. Democrats unfortunately were right; it gave far too much money to drug manufacturers and insurance companies. Now you can understand this really wasn’t help for seniors, but a pork barrel for drug and insurance companies. As you can see, like Mr. Bush’s war, the prescription benefit was a fiscally irresponsible bill and we just kicked up the cost of entitlements for future generations to pay. What an administration, they have increased federal spending by 20% in three years, while revenues have declined and they come up with new spending ideas every day. America will pay for this profligacy for many years to come.

A record-high 375,000 jobless workers will exhaust their unemployment insurance this month and an estimated two million workers will find themselves in the same predicament during the first half of the year. This is the highest number of rollovers in January in 30 years.

Federal and state regulators have notified insurer Conseco that it is under investigation for fraudulent trading activity. A "Wells" notice has been issued.

As we referred to previously, it is the policy of the elitist Bush neocons to provide amnesty for 12 million illegal aliens and to outsource as many industries and jobs out of the country as possible. The result intended is the US will have a failing economy and become a second tier country. That will soften Americans up for an acceptance of world government. That is why they have instituted programs such as No Child Left Behind. That is the beginning of the new world order educational system. It is part of the dumbing down process, which precedes a culturally neutral universal curriculum for teaching global citizenship and the equality of world cultures. This is the type of program prevalent in Europe today. The program has begun in the US in low-income school districts. The program began with UNESCO eight years ago to internationalize education. It intends to strip children of values. Our education process is about to be repackaged just as the neocons have repackaged right-wing conservatism into Marxist and National Socialist dogma. For children our cultural values will be replaced with the trans-nationalism of the New World Order. There is to be no national sovereignty or national identity. That is where our members of Congress, our President and his neocons, the CFR, the Trilateral Commission and the Bilderbergers are taking our children and grandchildren.

As Halliburton mines Washington of the taxpayers hard earned cash, they go to great lengths to escape paying their fair share of taxes. No company has ever been as adroit in extracting our hard earned cash from Washington. As the money flows out of Washington into the coffers of Halliburton and its subsidiaries it finds its way to Panama, Vanuatu, Liechtenstein, Bermuda, the Cayman Islands, Trinidad and Tobago. These offshore banking locations are used to shift income out of the US to avoid taxation. Halliburton only paid $15 million in taxation in 2002. This trickery was, of course, devised by our V.P. Richard Cheney, when he was CEO of Halliburton. Making matters worse, Halliburton has also specialized in over-charging our government several times. It has done extensive work with countries the US has accused of supporting terrorists and just recently they were the subject of further investigation on over-charging the government $61 million for gasoline imported into Iraq and Kuwait and now they have been caught in a $6.3 million kickback scheme. Yet, our government continues to do business with them. This is a thriving corrupt company, with no allegiance, with powerful allies in government that enjoys extraordinary influence over national defense policies and has its own key to our national treasury. Doesn’t this strike you as odd? It pays little or no taxes, continues to benefit from the nation’s largesse and is operated as a criminal enterprise. Halliburton is another tribute to the leadership of George W. Bush.

George W. Bush, our corrupt president, has threatened to veto his first bill since coming to office. A pending bill that would scale back the government’s powers under the USA Patriot Act. In the famous words of A. G. John Ashcroft, it "unilaterally disarms America’s defenses." This is a pre-emptive strike by the fascist neocons. The bill would limit the government’s ability to use roving wiretaps against terrorists’ suspects, to execute search warrants against suspects without immediately notifying them and to obtain business records from libraries or bookstores in intelligence investigations, among other measures. The Patriot Acts go too far and the pending legislation would protect innocent Americans from unchecked government surveillance. George W. Bush’s version of fascism marches on. Let your elected representatives know how you feel about this legislation. Vetoes can be overridden.

There are now 7.7 million less jobs available than there were on 11/1 at the bottom of the recent economic dip. This is the worst jobless recovery in history. If this trend persists and we believe it will, the US and world economies are in for real trouble. Non-federal government hiring is only up 0.9% due to state, county and city deficits and cutbacks. Corporations that over-staffed during the late 90’s are still cutting to help the bottom line and we don’t expect that to stop. Their interest is in earnings for shareholders not the well being of the public. In previous economic corrections hiring increased by 5%. You then add offshore outsourcing and the movement of corporations out of the country and you have the results we just experienced. Another factor is under-funded pension plans. You fire the liability and you don’t have to fund it. This lack of US job formation and its persistence will reduce income generation, consumption and tax revenue. The loss in salary wages is $35 billion below other cycles and debt is five to 20 times larger. Worse yet, the purported productivity increases are not ending up in higher wages. The next great fear is the FED may have to stay too long. They may keep interest rates low too long with no discernable results and they may boost aggregates 25% plus again creating another bubble, which they are in the process of doing. The stakes are huge and the US government and the FED have their backs to the wall. We do not believe the problem will be solved and the US will be forced to finally erect trade barriers.

John Law has been reincarnated as Sir Alan Greenspan. Then again, if the Queen of the Black Nobility likes him he can’t be all that bad. Probably just a little left of Satan. Every scam artist in history is laughing from his grave, while Alan toys with the abyss, while doing a high wire act. Every little move and announcement made by the maestro is well orchestrated and this week’s "considerable time" was another poke at gold, as was the false gold sales announcements out of Norway and Germany. These are just mini-battles; the big ones in this war against gold are yet to come. The market is hopelessly unsound and there is no attempt to rectify the situation, which tells us this is a deliberately planned collapse. If the FED were serious about stopping this monetary and economic debauchery, they would stop the credit market’s leveraged speculation. In the absence of that, we know for certain the dollar is headed much lower and with it the world economy. Alan knows that he and the FED will eventually lose control and they will find someone or something to blame, but if you keep your eye on the ball you’ll see in their eyes, creative destruction they hope will bring about a world currency and that is what this is all about. The Creatures from Jekyll Island know when they crank up that credit machine they can accommodate absolutely unlimited credit for consumption and speculation, little of which goes into productive investment. The increase in tangible capital brings high-paying jobs – not anymore. The investment and those jobs are in China not America.

We do not want you to forget that our Social Security Administration has been working for three years with Mexico to include a totalization plan. The American public is almost totally unaware of the plan. Washington uses as an excuse that we took the American Southwest away from Mexico in 1848 and we supposedly owe them something. Not only are we to include them in our Social Security plan we are to give them Aztlan, which is California, Arizona, Nevada, New Mexico, Colorado, Utah and Wyoming. Yes, the elitists will attempt to put them on our Social Security payroll but they will bypass Aztlan by doing away with our border. If Mexico keeps pushing and we go into depression we fear for the safety of Mexicans in the US. What their government is inciting is unfair to these people. This can come to no good end unless Mr. Bush stops pushing his Mexican and illegal alien agenda, or is stopped by Congress. He and both Mexican political parties are playing with dynamite and it’s up to the American people to get Congress to stop what could lead to disaster.

Due to the lack of increase in employment the Bushites would have us believe that all those they no longer count are independent contractors. Give us a break. The trial balloon was sent up by Reuters over last weekend. This is an attempt by the Administration to create the illusion that all those off unemployment payments have miraculously became independent contractors and the jobs that are not being created are being created because the Administration now says they are. How stupid! Let’s see them try to prove the figures. That is impossible, and if they in fact exist, why are they not paying taxes?

Home builders keep telling themselves that as long as mortgage rates stay under 7.5% demand will hold up. We have news for them. The recovery is losing steam, employment is not increasing and debt increases everyday 6.5%. Thirty-year fixed mortgage rates will prick the bubble and that is a certainty before the year is out.

In June alone 30,000 jobs were lost to India and 14 million more US service jobs are headed in that direction. The Philippines have 20,000 people answer phone calls for Dell Computer, Proctor and Gamble, American Express and Citigroup and those call-center jobs will double this year. Unless the US economy pioneers new high-wage industries to employ the displaced workers, they can expect second world status, lower pay and a standard of living compared to Mexico. You would think Congress would get the message; 8.2% growth in the third quarter, the sharpest growth in nine years and the economy still lost 41,000 more jobs. American’s will not benefit one bit from higher corporate profits generated offshore by slave wages, lack of any benefits and no environmental controls. Only shareholders will profit. All we are doing is subsidizing the third world. America wake up.

In an effort to get out in front of the potentially explosive issue that threatens to cloud his reelection bid, the Bush Administration has agreed to support an independent inquiry into the pre-war intelligence that he used to assert that Saddam Hussein was stockpiling WMD. An independent commission will be anything but that; it will be run by a fellow elitist or some stooge as we just saw in England. It will be a disinformation commission that will push blame toward the CIA, thereby crating more confusion as to who is really to blame. As chief arms inspector Kay said, we were almost all wrong. A Commission is a political expediency and we can promise you it won’t get anywhere near the truth. The Bushites will focus attention on the CIA and other intelligence operations and attempt to defer guilt away from the Administration. The Senate Intelligence Committee, headed by Pat Roberts, will finish its investigation by the end of March and we already know they will call into question the competency not only of CIA mid-level analysts, but also the top CIA leadership. Thus, you can expect a political whitewash from the first investigative body. That will set the tone for the commission in an effort to neutralize any of its negative findings. Republicans say they do not want a commission to begin until after the Roberts committee has concluded its findings in the hope that a commission would not be able to complete its work by November 2. Rep. Porter Goss (R-F), another sellout, Chairman of the House Intelligence Committee, and a former CIA case officer, says his report probably won’t be ready until the end of the year. He says these investigations will go on for years. This will be a game of musical chairs and in the final process the elitists will attempt as a result to give more authority to Fatherland Security and to make sure none of Patriot I and II is stripped from the original bills. Don’t expect anything but obfuscation and politics as usual. This is just more pablum for the masses.

The lack of corporate an insider buying for the past several months leads us to believe that the public and the "Plunge Protection Team" are keeping the market where it is. Without inside support we can not expect the market to go substantially higher and we could be at the end of this bear market rally. Cash takeover volume is going nowhere and stock buybacks are falling. In the first three weeks of January, corporate offerings were larger than usual and corporate insiders were selling heavily as they did in November and December. Cash flow into the market has been heavy recently, which is usually indicative of a top. In fact, January pr

• (CONT'D) The lack of corporate an insider buying — THE INTERNATIONAL FORECASTER, Thu Feb 5 18:47
• Bank Secrecy Act - AML/PATRIOT Act Q&A Archive — APFN, Thu Feb 5 20:35
• "JESUS IS COMING.... LOOK BUSY" — Anonymous, Thu Feb 5 19:19