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Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People

Saturday, February 6, 2016 20:35
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(Before It's News)

Economy

In the video below, President Obama gives one of the most disingenuous speeches he has ever given. Either the man is a pathological liar, or in the alternate universe where he lives, there really is an economic recovery, and unicorns really do run free! Neither of those things helps any of the now 100 million Americans living in REALITY who are not currently working.

While all the sane people in our weary nation are bracing for a global economic reset, Obama is flat out “peddling fiction,” as he put it during his State of the Union speech. There is no other way to say it. Period. It’s unconscionable that Obama is STILL out in front of the cameras taking credit for a recovery when 1/3 of our entire nation’s POPULATION is out of work. Listen to him spew his garbage! 

Obama Patholoigically Lies About the Economy

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Meanwhile, in the second video, Peter Schiff gives his assessment of the economy where the rest of us live, where there is NO recovery, and where none of us get to ride magical unicorns bred and paid for by the evil rich. 

Friday, Peter said the complete antithesis of what Obama did, starting by talking about the brutal hit the NASDAQ took this week when it dropped ANOTHER 5.5%, and don’t forget the markets had their worst January in the history of the stock market, so the NASDAQ could ill afford to drop another 5.5% drop in only a week. This week’s plunge puts the NASDAQ down over 17% just since January 1st. After just :10 seconds into the video, Peter has already told more truth than all of Obama’s press conference.  

Peter also discusses what is happening with the weakening U.S. Dollar, which also took a brutal hit this past week week when it suffered its worst loss since 2009. Without ruining the video for anyone intending to watch what Peter has to say about this week’s poor jobs report, I’ll make one comment about the future of the the U.S. economy. Recall from the post titled, Jim Willie Says the U.S. Dollar is Now a Matter of National Security Due to Fed’s Poor Decisions, that the Exchange Stabilization Fund is being used as a matter of national security to blunt massive worldwide sell-off of U.S, treasuries. The use of the fund prevents transparency in the bond market, and hides the carnage from plain view of investors. Despite that, the U.S. Dollar STILL had its worst week since 2009.

To anyone still buying the bullsh** Obama keeps shoveling: Do you need a bullhorn in your ear before you finally grasp the reality that the President is a pathological liar, and economic devastation is on the horizon for Americans who don’t prepare? As the article below highlights, we are at the same level of unemployment that the country faced during the HEIGHT of the Great Depression, and the global economic reset hasn’t even hit yet!!!!!! Hello!?!?!

Schiff on the Weak Jobs Report

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Saving the Republic writes:

No progress has been made economically when you write off people who have given up looking for a job. The unemployment rate (UE) of 4.9% Obama takes credit for is only based on those people who are on the books, the actual true unemployment rate is 23% (22.9%)

Graph

At it’s HEIGHT during the Great Depression the Unemployment Rate reached 25%!

By the govts Bureau of Labor Statistics numbers:

94,062,000 Americans are out of the work/ labor force

+ 7,800,000 Americans are officially on the books as unemployed

= 101,862,000 Americans are out of work

If you also factor a percentage of those on disability because their UE benefits ran out, so people applied and were granted disability benefits, the number of those out of work grows even higher!

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WWW.THELASTGREATSTAND.COM

Jobs continue to be moved over seas, the US went from being the central manufacturing hub of the world to now the central service provider. We make nothing here because companies cannot compete with nations who more or less use slave labor for production. Between that and the mountain of regulations, fees, fines and taxes how can any American company stay competitive on US soil?!

Have you taken note how bad the stock market has been swinging? For the record the market is down 2000 points where triple digit drops are triggered with just the slightest of bad news now (like today). The economy is a sick, dying patient who is becoming immune to antibiotics and adrenaline shots (quantitative easing, bailouts, money printing etc). Everything the SOB’s in power are trying to get this economy running again are not working. Don’t take my word for it look around are prices going up or down? Do you see businesses booming or closing up? Are you spending more or less, while trying to save every penny you can? The money you are able to save, how much interest are you making on it? Do you feel like you have job security or are keeping your eyes open just in case? Yes, gas prices are down but costs still continue to rise, and if you haven’t heard obama wants oil companies to pay a $10 tax on every single barrel of oil for “climate change” (hoax) and transportation infrastructure.

Have we talked about interest rates remaining at/ close to zero for almost a decade?! This is unheard of and when the corrupt Fed finally moves rates up… well let’s just say be prepared when hyperinflation kicks in.

In the video below, Europe continues to give a glimpse into our future…

Raw Violent Protests Over Greek Pension Reform

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As argued the images of the 1930’s depression have been replaced with unsustainable government programs. The food lines have been replaced with EBT/ Food Stamps and so on for everything else. This economic hole we’re in isn’t just a US thing, it’s on a global scale now that all our economies are tied together. Citi is warning the global economy is in a “death spiral“….

Make no mistake about it, America is and has been in a stealth depression since (at least) 2008.

seenlife

SUBSCRIBE TO  THE TOP STORIES OF THE WEEK IN THE NEWSLETTER HERE

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FOR MORE GREAT MATERIAL FROM JIM WILLIE:

Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse

Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike

Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government

Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions

Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives

Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States

Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions

Jim Willie, the Crumbling Global Economy, and the Dollar Crisis

Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?

Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day

Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!

Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar 

COMM-DollarCartoon07242009-2

FOR MORE GREAT MATERIAL FROM PETER SCHIFF:

Peter Schiff: Here Comes the Great, Great, Great, Great Recession!

Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”

CNBC Actually Admits Peter Schiff Was Right… Again (Video)

Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now

Peter Schiff: 2015 Was The Worst Year Since 2008 and Stocks Still Dropping

Peter Schiff: Janet Yellen Strayed From Her Own Plan and Went Nuts!

Peter Schiff: Higher Spending During Holidays Does Not Fix Screwed Economy

Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”

Peter Schiff: Take a Good Look at the “New” American Dream!

Peter Schiff: Did the Fed’s Luck Run Out On Friday the 13th?

Peter Schiff and “The 4 Harbingers Of Stock Market Doom”

Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

Peter Schiff: Warning! Economic Storm Clouds Ready to Rain

Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options

Peter Schiff: 11 Trillion In Global Stock Losses and Awful Jobs Report

 

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