Wednesday, November 16, 2011

Jon Corzine Scandal Exposes Liberal Ponzi Scheme

By Wayne Allyn Root

We’re all in trouble when the joke is on our most connected politicians. Jon Corzine is the former CEO of Wall Street powerhouse Goldman Sachs. Even God shudders when the CEO of Goldman walks in the room (or so Goldman executives think). Corzine left Goldman with a half-billion-dollar fortune and became a United States Senator. Soon he was a Governor of New Jersey. His friends are the most powerful people on Wall Street and in Washington, D.C. Only months ago he was a strong bet to be appointed to a major position in the Obama administration. He is the type of guy the media calls “the smartest guy in the room.” But obviously brains and connections aren’t enough to prevent a bankruptcy. Corzine just presided over one of the biggest disasters in Wall Street history; he just resigned as Chairman and CEO of MF Global, one of the most powerful Wall Street bond and futures trading firms. MF Global just filed for bankruptcy. Billions have been lost, hundreds of millions are missing, over 1,700 employees just received pink slips, and Corzine has hired a criminal defense lawyer. [more...]

Wednesday, November 2, 2011

MS Global: I Smell a Rat or Just Bad Decision Making?

After making a risky bet in a tumultuous market, MF Global filed for Chapter 11 this past weekend. Recently, the firm revealed that it had $6.3 billion of sovereign debt in troubled countries like Italy and Spain. The position was nearly five times the firm’s equity of more than a billion dollars. But how can a company such as MS Global go out and invest in something as toxic as European sovereign debt? According to the WSJ, a person familiar to the situation said FBI officials have decided to examine the discrepancy to determine if customers' money is missing. What is the importance and impact of the nation's largest financial institution collapse?

Tuesday, October 25, 2011

The Obama Plan to Redistribute Housing

I’m willing to bet that, as a child, Obama was very jealous of other kids’ marbles. He must have felt short-changed of his share of marbles. Unfortunately this made him obsessed with taking other kids’ marbles and redistributing them. I’ll bet he was good at it - so good that no kids were willing to ever play with him ever again. He became a lonely kid, dreaming of growing up to run the country, make all the rules, and take marbles away from everyone.

Unfortunately people rarely change. The way you think as a kid is often the base of your philosophy and personality for the rest of your life. Because as an adult, Obama’s entire life has been built around the idea of government stealing from successful people who worked hard and earned their money, to redistribute it to those who don’t.

First Obama tried to redistribute wealth before he was President, by leading the charge to force banks to make loans to lower income Americans who could not afford to own homes (through the Community Reinvestment Act). Affirmative action for homes didn’t work out so well. That idea imploded the housing market, and led to the destruction of the entire U.S. economy.

Obama did not realize there is a difference between marbles and homes. Marbles are free to kids. Homes come with a mortgage, insurance, repairs and property taxes. Just because you want something, or because it seems “fair” that everyone should have it, doesn’t mean everyone can afford it, or is responsible enough to pay for it month after month.

Then Obama was elected President- on the strength of his promise to give his voters all the marbles they wanted. Soon Obama was busy trying to recreate his childhood and wipe away all that pain and jealousy. He wanted to give everyone equal marbles. But to do that, he’d have to find a way to take the marbles away from those that earned them.

So Obama came up with new and creative ways to punish and tax the rich, while at the same time handing out more goodies and treats than ever before to the poor (ie Obama voters). He redistributed trillions of dollars through the largest stimulus program in U.S. history; the largest increase in food stamps in U.S. history (45 million Americans); the largest free healthcare program in U.S. history (Obamacare); and let's not forget welfare checks designed to look like "tax cuts" handed to people who never paid taxes.

Obama’s voters were swimming in marbles. His childhood dreams had come true. But there was a problem. Jobs were disappearing. The more marbles Obama tried to steal from the rich, the fewer jobs were available for everyone else, and the more people lost their homes. Funny how that works.

Obama was angry and confused. So he doubled down. More marbles would have to be stolen by government and redistributed. Since housing was at the center of America’s economic collapse under Obama, he turned his attention to the redistribution of housing.

But how do you redistribute housing? Obama’s lonely childhood made him very creative. He came up with endless ideas for redistribution of marbles. Part I of his housing redistribution plan is to rescue his voters who can’t afford their homes. So Obama proposes forcing banks who are broke because government encouraged them to give loans to lower income people who weren't refinance those underwater mortgages without regard for whether this is economic suicide for the banks. Obama will try any reckless scheme to keep lower income Obama voters in their homes that they can't afford- at least until the election. This is affirmative action for mortgages.

Here is where Part II comes in. Obama isn’t happy just handing marbles to the poor. He’s also got to take them away from the rich. So he desperately plans and plots to eliminate or greatly reduce the mortgage tax deduction for wealthy homeowners- thereby ruining the values of their homes, forcing many of them into foreclosures or short sales, and destabilizing upscale neighborhoods across the USA. No one interested in boosting the housing market could possibly suggest eliminating the mortgage deduction, could they? Well they could, but only if their goal was to wipe out wealthy homeowers.

This is the ultimate housing redistribution plan by the Marxist-in-Chief Barack Obama. Think of the beauty and brilliance of this plan. Government keeps people who can’t afford their homes, in their homes, without regard for the rule of law or contracts. At the same time government raise taxes so high on wealthy people, and eliminates their legal mortgage deductions that have been in place a lifetime, thereby forcing people who can afford their homes, and have responsibly paid their obligations, to lose their homes. Brilliant.

The goal is simple. My hero Ronald Reagan wanted to dramatically cut taxes to starve the government and empower the individual. Obama has the opposite goal- to starve his political opposition (business owners and high income Americans) with dramatic tax increases and loss of deductions that hurt them financially, thereby leaving them powerless to stop him from exploding the size of government.

This is the Obama plan. And it all started with a young boy’s marble envy.

Tuesday, October 18, 2011

Cain's 9-9-9 Plan

“Business are not based on uncertainty, they are based on certainty,” says Herman Cain and he believes it’s the basis for a healthy business sector. Businesses are faced with a minefield of uncertainty. Obamacare, an ever-changing tax code, and a growing regulatory burden. Clear the way and American small businesses will lead this country forward. America needs to get back to its entrepreneurial roots. We need low taxation, less regulations and a business environment that can feel safe. 9-9-9 will provide a base where American businesses can rebuild their lost confidence and it will create an environment that will motivate small businesses to invest. That’s what creates jobs. That’s what will start this engine rolling back and bringing positive results for the American economy and to the American people.

Thursday, September 29, 2011

Robbing America's Young By Wayne Jett

Robbing America's Young

No Jobs, No Homes, No Children, No Future

The Fruits of Graft By Wayne JettThe truth about how the Great Depression and today's economic crisis were "manmade" is, at long last, told in a stunning new book by classical economist, Wayne Jett - The Fruits of Graft: Great Depressions Then and Now"Millions of Americans are living in economic depression. All generations are badly impacted. Among the most tragic effects of 21st Century financial conspiracy is the relative poverty of America's new young adults," he says.

Many people outside the financial sector do not understand why anyone would welcome or even plan an economic depression. But, Jett says, financiers know very well that crashes in financial markets are their most profitable times, if they position themselves on the "short" side by betting against companies and the economy. This type of trading, much of it fraudulent, was pervasive in the Great Crash of 1929 and remains so in 2011. Jett calls attention to Monday's statement on the BBC by a London trader, who candidly states he "goes to bed every night dreaming of recession."

In this reality, financial players have tremendous incentive to plan and cause economic depressions. Not only to profit immensely during market crashes, they then have great capital stores to buy assets at fire sale prices (two to five cents on the dollar during the Depression) so their control of the economy is even more complete. Jett says his book presents evidence proving this is what, in fact, occurred during the Great Depression and during the financial "collapse" of 2008.
"President Barack Obama is the new FDR. Into Obama's waiting arms the American electorate flew, driven by financial improvised explosive devices planted within a Republican administration by Wall Street operatives. The same occurred when voters ran to FDR from tariff, tax and financial fraud injuries inflicted during the presidency of Herbert Hoover. Europeans suffer much the same oppression as Americans. Somehow those who impose manmade depressions must be overcome." [more...]

Tuesday, August 9, 2011

Why Are Businesses Sitting on the Sidelines?

The answer is very simple: government. The federal government needs to get out of the way and let businesses do what they do best - creating jobs and stimulating the economy.  Government can do neither because it does not produce either products or services. Despite its good intentions and misguided political or social agendas, the federal government only serves to stifle economic investment and growth at the expense of taxpayers. Smaller government and less regulation are the answer as government overregulation threatens economic growth. Unfortunately, the current Administration continues to push its social agenda to the detriment of the very people who can turn the ship around. [more...]

Tuesday, July 12, 2011

The Mortgage Deduction Nightmare

How Obama’s Tax Plans Threaten to Wipe Out the Upper Middle Class

Why is Obama trying to ruin the lives of millions of small business owners and upper middle class American homeowners? And why is Obama trying to do it without warning, without discussion, without hearings - hidden in debt ceiling negotiations? Obama uses words like “the rich” and “fairness,” but it’s important to understand that his goal of taking away the mortgage interest tax deduction won’t hurt his super-rich, jet-set contributors, like Jeffrey Immelt, CEO of G.E. His company made over $12 billion last year and paid zero U.S. taxes. Zero!  But that doesn’t bother Obama. His plan to eliminate the mortgage interest deduction is aimed squarely at upper middle class American homeowners, small business owners, and retirees whose entire lifetime of hard work is tied to their home. Those groups will be devastated. [more...]

Thursday, June 2, 2011

Why the Greatest Depression of All Time Has Begun

I predicted doom if Obama was elected. Sadly the results are far worse than imagined. The economy is in shambles. America is staring at economic disaster - Armageddon. Even I, the eternal optimist, am scared at what the future holds. We are the Titanic, headed straight for the iceberg. America has always been a land of boom and bust; it’s just part of the business cycle. But Obama and his socialist cabal have channeled Hoover and FDR, who turned an ordinary bust into The Great Depression, with a toxic strategy of more government, more spending, more debt, more rules and regulations strangling business, higher minimum wages, more power to unions, more entitlements, higher taxes, more printing of money by the Fed, and trade tariffs. This is the Obama blueprint squared. [more...]

Thursday, March 31, 2011

Obamageddon: Signs That Obama's Great Depression Has Begun

If you’ve been paying attention to the news, several ominous signs have appeared that foretell economic disaster. After reading these “tells” or signs, I believe you’ll agree we are entering “Obamageddon” - Obama’s Great Depression. The first sign is the fact Bill Gross, head of the world’s largest bond fund (PIMCO), has just sold all his domestic government bond holdings - every single dollar! Do you have any idea what that means? In my opinion, Bill Gross is one of the ten smartest men on this planet. He knows everything about the economy and bonds. His sell-off indicates he believes local, state and our federal government are all on the verge of disaster - insolvency, bankruptcy, and default on bond obligations. To add insult to injury, Gross disclosed he bought emerging market bonds with the money from the sale of U.S. bonds. That means Gross has more faith in Brazil, Russia and African nations than the U.S.A. The Great Gross sell-off is a sign of economic Armageddon. [more...]

Thursday, January 20, 2011

The Progressive Model of Tax & Spend is Dead - Even in New York

It's amazing to me that there are still a few people in America pushing the dinosaur called “the progressive agenda.” How can anyone demand bigger government, more services, higher spending, and higher taxes in the middle of a financial Armageddon? That’s not a progressive agenda; it’s a bankruptcy agenda. The proof is found in my old home state of New York, and my new adopted home state of Nevada. There is a dramatic and truly amazing lesson developing right now in New York. The newly elected Governor of New York is Democrat Andrew Cuomo, the son of one of the heroes of big government "tax and spend" liberalism - former New York Governor Mario Cuomo. Yet this new and improved Cuomo refuses to raise taxes one cent. He is demanding a "radical shift" in the way New York is run (headline quoted from the liberal New York Times). That "radical shift" is built around the idea of dramatic cuts in services, smaller government, far fewer government employees and agencies, and reigning in public employee unions. [more...]

Porter Stansberry: Is This the End of America?

Is This the End of America?
Why a single event in the next 12 months will radically change everything about our normal way of life... how we shop, travel, educate our kids, invest, save, and even retire.

A little more than a decade ago, I founded a financial firm called Stansberry & Associates Invest­ment Research. Today we serve hundreds of thousands of customers, in more than 120 countries.

Over the past few years, we were able to warn investors about the inevitable collapse of companies such as Fannie Mae, Freddie Mac, Bear Stearns, Lehman Brothers, General Motors and dozens of others.

To my knowledge, no other research firm in the world can match our record of correctly predicting the catastrophe that has occurred since 2008. I reference our success and experience with Wall Street's latest crisis because we believe there is an even bigger crisis lurking - something that will shake the very foundation of America.

And the incredible thing is... this has absolutely nothing to do with the stock market. [more...]

America's Most Important Day in 50 Years

In short, I want to detail for you a specific event that will likely take place in America's very near future... which could actually bring our country and our way of life to a grinding halt.

This looming crisis is related to the financial crisis of 2008... but it is infinitely more dangerous.
And as this problem comes to a head, I expect there to be riots in the streets... arrests on an unprec­edented scale... and military-enforced martial law.

Believe me, I don't make this prediction lightly and I have no interest in trying to scare you.
I'm simply following my research to its logical conclusion.

I did the same when I tracked Fannie and Freddie's accounting. The same with General Motors, with Bear Stearns and the rest. When I began giving this warning in 2006 no one took me very seriously. Back then, most mainstream commentators just ignored me. And when I presented my case and exposed the facts at economic conferences, they got angry. They couldn't refute my research... but they weren't ready to accept the enormity of its conclusions either.

The same financial problems I've been tracking from bank to bank, from company to company for the last five years, have now found their way into the U.S. Treasury. I want to explain to you how this came to be. What it means is critically important to you and every American... Because the next phase in this crisis will threaten our very way of life.

The savings of millions will be wiped out. This disaster will change your business and your work. It will dramatically affect your financial accounts, investments, and retirement. It will change everything about your normal way of life: Where you vacation... where you send you kids or grandkids to school... how and where you shop... the way you protect your family and home.

A WORD OF WARNING: This presentation contains material that may be offensive to some audiences. Viewer discretion is advised. I promise you this presentation will be worth your time. And I know it will benefit you and your family. That's why more than 2 million people have viewed it already. Go now to watch it at: