The Not So Super Hero

By Peter Schiff

The past week provided clear lessons not just in how central bankers have a limited ability to positively influence the economy but also how they are limited in their capacity to deliver the shortsighted policy actions that investors currently crave. The developments should provide new reasons for investors and economy watchers to abandon their faith in central bankers as super heroes capable of saving the economy.

The employment report released on Friday confirmed that the U.S. economy is stagnating at best and actively deteriorating at worst. While the numbers of jobs created in July was actually better than many economists expected, it was still far below the levels that would indicate a growing economy. But more important than the official unemployment rate (which ticked up to 8.3%) or the number of jobs created, is the number of people who have left the workforce out of frustration or despair. This number continues to head higher. The labor force participation rate, which is the percentage of healthy working age Americans who actually have jobs, is at one of the lowest points since women first started working en masse in the 1970?s. It?s also instructive to add back into the unemployment rate those who want full time jobs but who have had to settle for part time work. This figure, reported under the ?U6? category, currently stands at 15.0%. This is just a 12% decline from the 17.1% high seen December 2009. In contrast the ?official? (U3) unemployment figure has declined 17% from its peak.

In explaining these bad results, most economists simply look at the stimulating effects of monetary and fiscal policy,not at the problems that those measures create. As a result, it is assumed that not enough stimulation, in the form of quantitative easing or federal deficit spending has been applied to the economy. The next logical assumption is that if the measures of the past few years had not been applied, we would have seen much weaker results over that time. In other words, no matter how bad things are now, defenders of the status quo will always describe how bad things ?could have been? if the Fed hadn?t stepped in. This counterfactual argument gets increasingly threadbare as the years wear on.

Rather than admit that its policies have failed, the Fed statement last week gave all indications that it will continue with its current inflationary policy to the bitter end. These are the same errors that inflated the stock and real estate bubbles and ultimately resulted in the 2008 financial crisis and our continuing economic malaise. Without any fresh ideas,Fed press releases have become a Groundhog Day repetition of the same pronouncements and diagnoses. Oddly, many market watchers are frustrated that the Fed has not telegraphed that more stimulus is forthcoming. While it should be obvious that our current ?recovery? is dependent on monetary support, it should be equally plain that the Fed can?t actually admit that fragility without spooking markets. To be clear, QE III is coming, but the markets should not expect Bernanke to supply a precise timetable.

Without question, if the Fed had not stimulated the economy with zero percent interest rates, two rounds of quantitative easing and operation twist, the initial economic contraction would have been sharper. But such short-term pain would have been constructive. By not taking away the cheap-money punch bowl, the Fed has delayed the pain and prolonged the party. But to what end? So far all we have received is a tepid phony recovery that has sown the seeds of its own destruction.

In contrast, real economic restructuring would have resulted if the Fed had withdrawn its monetary props. This would have paved the way for a robust, sustainable recovery. Instead, the Fed helped numb the pain with unprecedented (and apparently permanent) liquidity injections. Its actions merely exacerbate the underlying imbalances that lie at the root of our structural problems, and thus act as a barrier to a real recovery. So long as the Fed fails to learn from its prior mistakes, the phony recovery it has concocted will continue to fade until we find ourselves in an even deeper recession thanthe one we experienced in 2008.

Those who believe that artificially low interest rates are needed now,fail to see the price that will be paid down the road. By keeping rates too low, the Fed continues to lead an overly indebted economy deeper into the financial abyss. However, its ability to maintain rates at such low levels is not without limits. Just as real estate prices could not stay high forever, interest rates cannot stay low forever. When rates finally rise, the extent of the economic damage will finally be revealed.

The sad fact is that no matter how impotent and dishonest Fed officials become, their elected rivals on Capitol Hill (who control the fiscal side of the equation) have become even less significant. The complete lack of any political conviction to take steps to confront our fiscal imbalances means that Ben Bernanke and his cohorts are seen as the only cavalry capable of riding to the rescue. But no matter how often they blow their bugles,our economy will continue to deteriorate until we stop waiting for a savior and instead fight the battle for prosperity ourselves.

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Geneticists Reveal E. Coli Super Bug O104 Was Engineered

Click to expand conspiracy quotes from this video It’s classic problem reaction solution. They’re using it in every area, but especially in agriculture. Every time they want to pass more food regulations, they engineer another disaster and they create a fear campaign. And, there’s so many agendas they can then pursue with this fear. It’s not just to enable them to enact new food regulations and tyrannical legislation ans crack down on small farms, raid the Amish at gun point and things like that. It’s also the fact that they can retaliate against Spain. Remember because Spain stood up against the GMO agenda. Spain said we don’t want GMOs in our country, even as, and this came out of wikileaks by the way, even as the U.S. was working on a plan to force European nations to accept GMOs, this is now retaliation. In a matter of less than a week they have destroyed much of Spain’s agricultural economy, at least those involved in fresh vegetable farming. So this is an act of economic warfare, on that front, it’s an act of biological warfare against the innocent victims who are now being harmed by this bacteria strain which has clearly been bioengineered.

We’re watching a circus of fear mongering. They screamed cucumbers, and everybody stopped buying cucumbers. Then they screamed tomatoes, then they screamed lettuce–it’s like we’re watching a circus of health regulator lunatics who are running around destroying food industries, destroying the economics of farmers one by one. It’s like a Godzilla marching through the city stomping on farmers tents at the farmers markets. They’re just destroying this industry, with no credibility. And today Wall Street Journal broke this article, which we wrote about also, that said it’s not the sprouts. Just until this morning they were blaming the organic sprouts from Northern Germany. Well they ran tests on that and the tests all came up negative, so it’s not the sprouts, even though the media in the UK was printing reports from people based on this fear saying I’m never eating organic again. Well that’s the reaction they want you to have. Because they want you to be afraid of vegetables. They want you to be afraid of small farms. They want you to be afraid of fresh food, because then you’ll buy processed dead foods that keep you sick, and keep you a customer of the pharmaceutical industry.

There’s something called the genetic analysis of the E. coli strain. And genetic analysis is actually quite advanced from a technical point of view. You can determine what the strain was exposed to and its history to create the current strain. And when you look at this, and that was done by the Robert Koch Institute in Germany, their scientists broke down the genetics of this E. coli strain it’s call O104, and if you look at it you can read the history, and the history doesn’t lie. This strain was exposed repeatedly to all the 8 major classes of antibiotics that are sold by the drug companies today. This practically guarantees that this is going to cause acute kidney failure. It’s going to cause fatalities in the hospitals. In fact this particular strain was engineered with a couple of extra genes that give it even more power. It’s like a super powerful deadly superbug, and the fact is this could not be created randomly in nature with some kind of random mutation. Impossible. It had to have been engineered and then introduced into the food supply in some way.

1 of 2

2 of 2

http://www.naturalnews.com/032622_ecoli_bioengineering.html

Related conspiracies: big pharma, biowarfare, corporations, dairy industry, E. coli, environmental warfare, FDA Food Safety Modernization Act, GMO, nutrition, organic food

View the original article here

Geneticists Reveal E. Coli Super Bug O104 Was Engineered

Click to expand conspiracy quotes from this video It’s classic problem reaction solution. They’re using it in every area, but especially in agriculture. Every time they want to pass more food regulations, they engineer another diaster and they create a fear campaign. And, there’s so many agendas they can then pursue with this fear. It’s not just to enable them to enact new food regulations and tyrannical legislation ans crack down on small farms, raid the Amish at gun point and things like that. It’s also the fact that they can retaliate against Spain. Remember because Spain stood up against the GMO agenda. Spain said we don’t want GMOs in our country, even as, and this came out of wikileaks by the way, even as the U.S. was working on a plan to force European nations to accept GMOs, this is now retaliation. In a matter of less than a week they have destroyed much of Spain’s agricultural economy, at least those involved in fresh vegetable farming. So this is an act of economic warfare, on that front, it’s an act of biological warfare against the innocent victims who are now being harmed by this bacteria strain which has clearly been bioengineered.

We’re watching a circus of fearmongering. They screamed cucumbers, and everybody stopped buying cucumbers. Then they screamed tomatoes, then they screamed lettuce–it’s like we’re watching a circus of health regulator lunatics who are running around destroying food industries, destroying the economics of farmers one by one. It’s like a Godzilla marching through the city stomping on farmers tents at the farmers markets. They’re just destroying this industry, with no credibility. And today Wall Street Journal broke this article, which we wrote about also, that said it’s not the sprouts. Just until this morning they were blaming the organic sprouts from Northern Germany.Well they ran tests on that and the tests all came up negative, so it’s not the sprouts, even though the media in the UK was printing reports from people based on this fear saying I’m never eating organic again. Well that’s the reaction they want you to have. Because they want you to be afraid of vegetables. They want you to be afraid of small farms. They want you to be afraid of fresh food, because then you’ll buy processed dead foods that keep you sick, and keep you a customer of the pharmaceutical industry.

There’s something called the genetic analysis of the E. coli strain. And genetic analysis is actually quite advanced from a technical point of view. You can determine what the strain was exposed to and its history to create the current strain. And when you look at this, and that was done by the Robert Koch Institute in Germany, their scientists broke down the genetics of this E. coli strain it’s call O104, and if you look at it you can read the history, and the history doesn’t lie. This strain was exposed repeatedly to all the 8 major classes of antibiotics that are sold by the drug companies today. This practically guarantees that this is going to cause acute kidney failure. It’s going to cause fatalities in the hospitals. In fact this particular strain was engineered with a couple of extra genes that give it even more power. It’s like a super powerful deadly superbug, and the fact is this could not be created randomly in nature with some kind of random mutation. Impossible. It had to have been engineered and then introduced into the food supply in some way.

1 of 2

2 of 2

http://www.naturalnews.com/032622_ecoli_bioengineering.html

Related conspiracies: big pharma, biowarfare, corporations, dairy industry, E. coli, environmental warfare, FDA Food Safety Modernization Act, GMO, nutrition, organic food

View the original article here