TV News LIES

Saturday, Jul 26th

Last update04:59:16 AM GMT

You are here News Editorials Prairie2: Say Goodbye to the Middle Class

Prairie2: Say Goodbye to the Middle Class

E-mail Print PDF

Say goodbye to the middle classWe’ve had an increase in the Initial Unemployment Claims number for the second straight week, and this may or maybe not bad news. It’s too early to get really worried about it, we’re still way below the 400,000 number that seems to indicate a failing economy these days.

The numbers are seasonally adjusted and thanks to global warming we had no winter to speak of, causing the normal spring spike in activity to start in January. Low winter heating bills put an average of $400 per family into the economy with twice that in the northeast. Unfortunately,  high gasoline prices are taking it back again.

The far right is screaming about hyper-inflation again because of gas prices, and this totally wrong headed thinking is common among Federal Reserve Board members. This is what is spooking the stock market, that the Fed might start “fighting inflation”.

Fighting non-existent inflation would trigger deflation and a freefall crash of the markets. Improved sovereign bond sales in Europe did calm the market for awhile. Markets did resume sliding again today, so that wasn’t enough. Let’s be clear, it’s not about the jobs numbers. Wall Street doesn’t give a crap about how many people are unemployed, it‘s the Fed they care about.

Obama is gaining political traction with the proposed Buffet Rule that would force the rich to pay a minimum 30% tax on all income over $1 million (except on municipal bond interest). This would effectively double Mitt Romney’s taxes. His wife might need to get a job (just kidding, she can stay home and hand crank the car elevator to save money).

More...


Most Recent Related Stories...


Bruce Enberg: We're not Fair and Balanced, we tell the truth

truthNew unemployment claims dipped to 284,000 in the past week, and this is the lowest number...

AIPAC Is the Only Explanation for America's Morally Bankrupt Israel Policy

AIPACThe official name for Israel's latest assault on Gaza is "Operation Protective Edge." A better name...

We are Israeli reservists. We refuse to serve.

Israeli soldiers refuse to serve in GazaWhenever the Israeli army drafts the reserves — which are made up of ex-soldiers — there...

Israel: America’s Frankenstein Monster

Israel: America's FrankensteinWith Israeli tanks rolling into the Gaza Strip and Hamas fighters firing dozens of rockets into...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!