by Tucker Scofield
An acquaintance of mine had an opportunity this week to make as much as $25,000.00…she turned it down.
She is a property owner on the Gulf and she received a phone call from a friend regarding BP. They are settling damage claims with anyone who may have been affected by last summer’s oil spill and the caller, who knew others affected by the spill, was passing along the fact that the money was available and ripe for the picking.
There it was…free money. Was BP really going to audit every claim before paying it out of their $20 billion slush fund? Not in a million years. All she would’ve had to do was exaggerate the facts, maybe tell a little white lie or two and POOF, the Oil Fairy would grant a wish that could make the struggles of the past two years disappear. One small bit of paperwork and it would be dead presidents raining down from Heaven! Get that money, dollar-dollar bill, y’all! But she wouldn’t do it. For her, this was a matter of principle.
I asked why she turned it down. “It’s not right,” she said. She didn’t feel as though she’d been negatively affected by the spill at all, despite having received numerous phone calls from concerned renters regarding conditions on the beach. Her rental income was pretty much unchanged from the previous year and she felt as though filing a claim (Read More....)
How the US Government Manipulates Inflation Data
An eye-opening guest post by Phil of Phil's Stock World
The PCE bothered me yesterday.
The Government told us that the PCE core price index for December was 0% - no inflation at all. I found that to be incredible - as in not credible at all and then Tusked asked me how long the Bernank could keep justifying his rampant money printing with fake government data, to which I responded: "I had many derogatory things to say about that but I was literally so sickened by that BS that I couldn’t bring myself to comment on it so I just left it alone but it’s a very sad joke that our government can tell us that there was no inflation in December while the whole planet is falling apart, isn’t it?"
Fortunately, there was a helpful article in the WSJ by Brett Arends that pointed out that the way the government justifies their low inflation figures is through "substitution and harmonics," a topic expert (Read More....)
Most Americans believe that the U.S. economy will fully recover from this recent recession and will soon become stronger than ever. But that is definitely not what is happening. The truth is that the very foundations of the U.S. economy are coming apart and we are headed for a massive amount of financial trouble as a nation. Collectively, the U.S. government, U.S. businesses and U.S. consumers have piled up the biggest mountain of debt in the history of the world. This mountain of debt has enabled us to enjoy a spectacular standard of living for the past several decades, but now the bills are coming due and nobody seems to even realize how great of a financial disaster the U.S. now finds itself in the middle of.
The following are 10 huge flashing danger signs that show just how much of a mess the U.S. economy is in....
#1) The FDIC is opening a satellite office in the Chicago area that will accommodate up to 500 temporary staffers and contractors to manage receiverships and liquidate assets from what they are expecting will be a massive wave of failed Midwest banks.
#2) The U.S. Treasury Department announced on Tuesday that foreign holdings of U.S. Treasury securities fell by $53 (Read More....)