"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey
After yesterday's Fed announcement, the DJIA was whipsawed from up 178 to down -11.81 on the close. The statement that followed yesterday's meeting left doubts as to the Feds real intentions. Isn't that what they are suppose to do? Yes, I think it is.
In its policy statement, the Fed said that economic growth remained weak, but removed or forgot to add the comments from the March meeting that said "economic activity has weakened further" and "downside risks to growth remain."
Well, I'll tell you this. Last night I went to our local Mall and walked around. The stores were empty, and I could count the number of people in Best Buy (BBY) on both hands. This may not seem unusual to you, but in our part of the world BBY is always jammed.
In my humble opinion, consumer spending has come to a screeching halt. So the Fed can leave out comments like "economic activity has weakened further" and "downside risks to growth remain", but I can tell you they are wrong.
Today, the Commerce Department released the consumer spending numbers which they report as up +0.4% versus estimate +0.2%. Now for the truth. The real numbers show that spending rose only 1 percent, the slowest growth since the recession in 2001. The INCREASE in spending came from increased prices in FOOD and GASOLINE.
WHY DON'T THEY JUST TELL YOU THE TRUTH? JUST SAY IT, WE CAN TAKE IT.
The CoNNerce Department also said excluding food and energy, inflation for the first quarter was 2.2 percent. All I have got to say is wow!
What was it including food and energy?
$168 billion in welfare checks (stimulus package) are beginning to hit direct deposit accounts and mailboxes. All I can say is this "Bud's For You" and stay off the streets after mid-night to avoid the drunks.
With oil prices beginning to pullback, and the dollar beginning to rally, I am wondering if the Republicans can really pull it off. With the election only 6 months away, no one would think the Republicans had even a remote chance of winning.
But... American's have a short memory, and the Republican's will have a lot (of oil) to lose in November. I still believe (by the price action in the financials) the Bush Administration will pull a rabbit out of a hat that will solve the credit crunch and mortgage crisis.
That's the wonderful aspect of being a contrarian. You know sooner or later something as important as the financial system will eventually be fixed.
Regardless of what party wins in November, they are both owned by the "Aristocracy". This is not new news, it has been going on since 1776.
The Rest of the Story
The American Revolutionary War was fought by the Colonists to overthrow British rule. Farmers with pitchforks took up arms against a highly organized British Army. The quest for freedom prevailed as the Colonists won their freedom.
Once the United States declared their independence on July 4, 1776, the citizens of the United States were no longer subject to British rule, instead the began to be ruled by a new kind of Kingdom. The new US Kingdom was known as an "Aristocracy", which is still very prevalent in society today.
You may have heard the term "Plutocrats" which comes from "Plutocracy" which means rule or power through wealth or by the wealthy.
In a Plutocracy, the modern day Aristocrats controls a nations government from behind the scenes. These people exercise their power and influence over a nations political and economic system. This Plutocracy is very much alive in America today.
Don't get me wrong, I am not talking about the doctor you know who makes a million dollars a year, and has a net worth of $10 million, or the CEO of United Health who cashed in $2 billion in stock options. I am talking about real wealth and real influence. The kind of influence that gets Presidents elected, and the kind of influence that can get entire nations to form unions ( European Union, and the coming North American Union).
If you want to learn more about the Aristocrats or Plutocrats just Google these words;
Trilateral Commission
Bilderberg
David Rockefeller
Council of Foreign Relations
North American Union
Amero
You won't read this stuff in your local/national newspaper. Remember this quote from Mr. Rockefeller?
"We are grateful to the Washington Post, the New York Times, Time magazine, and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. ... It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during these years. But the world is now more sophisticated and prepared to march towards a world government which will never again know war but only peace and prosperity for the whole of humanity."
