THE TIMES IN WHICH WE LIVE

It's been some time since my last post, and I apologize to my faithful readers for that, but I have been busy with various projects, one of which were the various previous write-ups on the Resurrection which precede this one. Well, with this post, I promise to pull out all of the stops, because here we are going to examine the economic and fiscal state of our union, and why the winds of change is in the air. We will examine with this post why it is necessary to change course and why this will be the greatest opportunity to truly reform our ship of state since the era of Ronald Reagan. So I welcome you to read the report below, and consider what it says for the good of your family and the good of our nation. While it is about politics, it is not political, because its warnings and recommendations, and reasons for these are based completely upon what's transpired in recent years. While this report contains commentary, it is not an editorial, it is simply a report of facts and figures and how these impact you and your family. So read ahead. You will not be dissappointed. The Pepster Let his days be few; let another take his office. Psalm 109:8 “’..put away violence and destruction, and practice justice and righteousness. Stop your expropriations from My people,’ declares the Lord GOD.” Ezekiel 45:9 Since taking office in January 20th, 2009, Barack Hussein Obama has been spending more than the reported $1.5 trilliion, to the actual more accurate amount of $2.5trillion a year. That is, $2.5trillion more than the government receives in revenue. That means that his spending alone has accrued a debt of $8trillion additional to the deficit, and the interest on that deficit. Barack Hussein Obama has received $200,000 from the infamous Cardona Brothers – part of the Cardona Mexican Drug Cartel, which his campaign had to return when it was discovered. Barack Hussein Obama major campaign donor Abaki Assongba has been charged with fraud. The economy has stagnated for the last three years with the highest level of growth being just above two percent, whereas the economies of China has grown between 9.908% and higher – with some statistics as high as 13%, India has grown 8.43%, Japan 7.4%, Angola at 8.251%, and other nations’ like Iraq, Mozambique, Timor Leste (East Timor) and Laos have grown around the 7.4 and 7.83% levels; the United States has had a GDP growth of 2.2%. Two percent growth is none growth, because inflation – true inflation has hollowed out that miniscule two percent and brought into the negative in real terms. What’s more, evidence of this is in the Factory output orders which have been at zero for over two and a half years. Real wages have plummeted. Three years ago someone who earned thirty-five dollars an hour now earns fifteen, and if you account for inflation, that same person now is actually earning just seven or eight dollars an hour, when adjusted for inflation and the devaluing dollar. And this has been consistent for the last four years – this is Depression people. Recently, I received the following regarding what we should expect to see in the coming week/s, as the Obama Administration’s scandals come full circle into public view, and the nation learns more of the waste, graft, fraud, and criminal behavior of every member of this presidency from the top down. As Obama’s profligate spending of tax payer money continues to come into public scrutiny and his and his people’s free spending ways and lifestyle at tax payer’s expense becomes more evident, Obama’s Campaign will try to compare themselves with Mitt Romney. It will be a comparison they will regret making, because as one refrain called “A rational thought” has rebutted this erroneous comparison in the following manner: "Apparently, I'm supposed to be more angry about what Mitt Romney does with his money than what Barack Obama and congress does with mine." It’s one thing to criticize someone for misappropriations of public funds with lavish lifestyles and White House parties while the nation’s families suffer through the worst economic period since the Great Depression; It’s quite another for someone who spends other people’s money traveling on Air Force One across the nation campaigning, to criticize anyone for using their own money to do the same. I’d say, fair is fair; If you’ve worked hard for your money and been successful in your business, you are entitled to the fruits of your labor, and no one has the right to criticize what you do with your money and how you spend it, least of all someone who likes to spend lavishly other people’s money. Next time Obama tries to induce US to break the commandment against class envy and covetousness; he should keep from throwing stones at glass houses, since he lives in one himself. Especially because he’s lived off of the rest of US for three years now and has not served a day since he’s come into office; all he’s done is play golf, go on vacations, have lavish parties at the White House, and campaign. Dear Patriot, What’s in store for us this week in the news? Florida is going to make headlines—again--as it looks to review its “Stand Your Ground” law based on the Trayvon Martin situation. Ever since the shooting, the Left has been attempting to eliminate your ability to defend yourself and your home. A 17-member task force is set to hear testimony this week and review the law. This is a direct attack on your Second Amendment rights. There will be more fallout from the GSA conference overspending scandal. Look for more heads to roll and more fun ‘champagne in bathtub,’ type pictures to be added to evidence as Congress continues to peel apart the misconduct of the Government Services Administration. Speaking of scandal and heads rolling, get ready to hear more about the Secret Service prostitution ring. With only a few agents forced out and a couple more under review so far, we have only begun to see the tip of the iceberg of what is to come. Congress wants answers and they are out for blood. Look for the head of the Secret Service to be under fire and his job potentially at risk. In the thick of both the GSA and Secret Service scandals is Secretary of Defense Leon Panetta. It was uncovered late last week that Panetta has spent more of your money than the GSA’s ridiculous conference to fly home from DC to California since taking the role. Panetta spends $32,000 on what would cost a normal traveler $600 to make the round trip flight. Why do we know these facts? Because someone wants Panetta out. Panetta also happens to be on top of the Executive Department which heads up the Secret Service. Combine his travel spending with the recent misconduct and you’ve got your perfect scapegoat. Panetta’s days are numbered. Stay informed and be smarter than they think you are, Tim Young Managing Editor I just received a second short report on this scandal, and it follows: Breaking News Update Secret Service Fallout Continues As we predicted earlier this week on Absolute Rights, the fallout has continued from the Secret Service Scandal. As you already know, 12 agents who were on President Obama's advance team in Colombia allegedly hired prostitutes in violation of the code of ethics and morality set forth by the agency. All of the agents involved have been dealt their fates: 6 have resigned, 2 are in the process of being fired, 1 has retired, and 3 have been cleared of serious wrongdoing. President Obama spoke about the incident on Late Night with Jimmy Fallon a few days ago saying, "A couple of knuckleheads shouldn't detract from what (the Secret Service does)…What these guys were thinking, I don't know. That's why they're not there anymore." There has been no word yet on whether or not Mark Sullivan, the current Director of the Secret Service, or Leon Panetta, the Secretary of Defense, will lose their jobs over the scandal. Experts say that there is a lot of pressure on both at this point, but that they are expected to retain their positions. Adding to the controversy was Senator Chuck Grassley (R – IA), who has speculated that the prostitutes could have been Russian spies. "We're looking at something that is very, very serious when national security might not be protected properly," said Grassley in an interview with Radio Iowa, "Who knows who might be using prostitutes? The Russians are famous for that to get information out of us." Stay tuned in to Absolute Rights for more details on this story as it develops and... Be smarter than they think you are. Tim Young Managing Editor This chief executive is truly an unmitigated disaster. He is nothing less than a horrible failure, and the economy and everything he has put his hand on has shriveled up or imploded in his hand. The various scandals plaguing his administration is symptomatic of it pathology – a pop cultural pathology – that this administration represents with rap parties and cookouts at the White House, almost monthly vacations at tax payer expense to exotic places and locales, and a continuous fund raising to feed the voracious coffers of its political machinery and campaign for reelection comprised a vast network of far left and radical front groups, organized by George Soros’ own network. But the scandals are what really define this administration over all others. They are enumerable and growing almost every month. In this write-up, I have included them with their respective headlines for the reader to examine for themselves. And they are: DNC FRAUDGATE – MORE DEMS CAUGHT BREAKING LAW GSAGATE – THE GRAFT OF PERSONAL PERSONNEL WASTE HOOKERGATE – THE SECRET SERVICE PROSTITUTE SCANDAL HOLDERGATE – FAST & FURIOUS, NEW BLACK PANTHERS & MORE SOLYNDRAGATE & THE GREEN AGENDA SCANDALS & WASTE TAXGATE – THE OBAMA FAMILY DOESN’T PLAY BY THEIR OWN RULES GOLDENGATE – “PRICY JETTING AROUND” CAMPAIGNING ON TAX PAYER’S DIME WAIVERGATE – UNLAWFUL PRESENCE WAIVERS GRANTED TO ILLEGAL ALIENS KEYSTONEGATE – OBAMA’S REFUSAL TO PIPE OIL INTO US FROM CANADA OBAMAGATE – THE GRAFT, CORRUPTION, & SCANDALS OF THE OBAMANATION PANETTAGATE –MILLIONS IN PERSONAL TRAVELING ON TAXPAYER’S DIME TRAYVONGATE – THE USE OF RACE IN POLITICS POTUS/SCOTUSGATE – OBAMA BREAKS PROTOCOL & TAKES ON SUPREME COURT EMPERORGATE – THE OBAMA POLICE STATE CONTINUES TO GROW ISLAMOGATE – OBAMA TURNED NATIONS INTO “ ISLAMIST DEMOCRACIES” HAS IGNITED A POWDER KEG The current administration appears to be a nightmarish amalgam of the worst elements of the Carter and Clinton Administrations – the ineptness of the Carter years accompanied by the scandals of the Clinton years – only these two are multiplied to the ninth degree with Barack Obama’s Administration, and there is no end to it. This is the Obama legacy. I have never in all my years, seen anything like this. At least fifteen scandals. Fifteen! Richard Nixon in six years looked like a nun in a nunnery compared to the record of Barack Hussein Obama in three years. How much more of this can this nation take?! It is a legacy of radical far Left Marxist Chicago Style crony capitalism and backroom deal type politics in closed and secret councils conducted by the most self-serving and corrupt public officials in this nation’s history. It is a legacy of soft tyranny by non elected bureaucrats within the Obama Administration imposing punitive regulations and fines on small businesses across the nation, causing many of them to close and lay off their workers. It is a legacy of shuttered store fronts, empty malls, and failed businesses across the American landscape. It is the legacy of depressed areas which cross state lines, from one community to the other; of troubled industries to miles and miles of abandoned foreclosed homes in such places as Detroit, Michigan, and Cleveland, Ohio. It is the legacy of failure – Barack Obama’s failure. Another warning shot from the Bob Livingston Newsletter advertisement explains the precarious situation our nation finds itself in at the current moment with regard to its ability to meet its debt obligations, and goes to the heart of the matter in a most direct way and how this will impact every American: Look, it's no secret that our government is bleeding the single greatest gushing of red ink in history. And no institution on earth—not the White House, not Congress... and certainly not the abomination we so politely refer to as the 'Federal Reserve'—has the faintest hope of slowing it—let alone STOPPING it. Despite what the Fat Cats and Bureaucrats try to tell you, the undeniable truth is that Washington has completely LOST CONTROL of the federal budget. And far worse than that, they're oblivious to what this means for you and me—namely, that a nightmarish wave of hyperinflation is set to demolish everything we've EVER worked for. Hyperinflation is Coming—And There's Absolutely No Time to Waste! The definition of hyperinflation is "inflation that is very high or 'out of control', a condition in which prices increase rapidly as a currency loses its value." This happened in Germany after World War I... when hyperinflation caused the inflation rate to swell from 300 to 800 billion percent, or 300,000,000,000% to 800,000,000,000% over a six-month period. The value of German mortgages in 1913 was roughly $10 billion US dollars. At the height of hyperinflation in late 1923, these mortgages were only worth one US penny! Trust me, this was NOT a pretty picture... In fact, hyperinflation was so bad that workers demanded to be paid daily, or even multiple times per day, so that their wages would not be worthless at the end of the day. When they received their pay, workers literally RAN from their jobs to the store in the hopes that their paychecks would still be enough to purchase a meal or some goods. Prices often changed hourly. There are stories of people using wheelbarrows to haul enough money to buy a loaf of bread. Money was sold or traded by weight and creative minds found other uses for the money, including making clothing with it, using it for wallpaper, and stuffing it in clothing and walls for insulation. Some citizens actually BURNED their money just to keep warm! This period of hyperinflation literally destroyed most of the middle and upper classes in Germany. Why Hyperinflation Is Now Dangerously Looming Before I tell you why China's elite and middle classes are preparing for a hyperinflation collapse—let's look at the "other side of the story" that no one is talking about... First off, we know that the dollar IS falling. For example, according to shadowstats.com—a leading producer of real and UNBIASED government statistics—the dollar has lost almost 13% of its international value just in the last 36 months. In other words... it's falling steeply in terms of how much corn, wheat, soybeans, beef, copper, silver and gold it can buy. And it's also falling against the euro, the yen, the pound and the Swiss franc. It's even going down against many third-world currencies! Think about that: For generations now, the United States has been the primary source of capital throughout the world. It was the U.S. that owned big stakes in foreign economies. So we certainly didn't need their capital to sustain us. Yet today, like a third-world country, we depend far too heavily on foreign capital. Every time we run a deficit in our federal budget, our government officials must go, hat in hand, asking for money from central banks and investors in Europe... Asia... and even Latin America. Now, after thousands of such trips, and trillions of such transactions, a significant chunk of America's wealth has literally been sold off or thrown away. And Up Until Now—Because America Was the Only Game in Town—He Had No Choice! This could NOT be said for smaller economic powers, like Brazil for instance. With a country like Brazil, the foreign investor DID have a choice. Whenever he lost faith in Brazil, for whatever reason, he pulled out in a big hurry, along with countless others, sending Brazil's financial market into periodic crashes. This was the biggest difference that separated the U.S. from a country like Brazil—whenever Brazil slacked off or did the wrong thing, it got slapped down, hard! But when the U.S. made similar mistakes, it usually got away with it. And so it was that we merrily ran huge deficits and borrowed to the hilt, as if nothing was wrong. And despite it all, foreign investors continued to pour more and more money into America. In the 1980s it was primarily the cash-rich Japanese who led the way, investing billions into U.S. stocks and bonds, helping to lift the Dow and the Treasury bond market out of their worst slumps of the postwar era. In the 1990s it was mostly Germans who played that role, helping to drive the big tech boom. And for much of this decade it has been India and China, with their exploding industries which thrived on U.S. consumption. But now, after nearly three decades of massive, virtually non-stop capital flows into the U.S. from abroad... some countries are beginning to realize it was NOT such a good idea after all. And in case you hadn't guessed... China Is One of Those Countries! When Treasury Secretary Tim Geithner recently visited China in a rah-rah session for the dollar—their reaction was almost appalling. In fact, while speaking to Chinese university students... he promised them that the dollars owned by their government were "very safe." And their reaction? Simple: They nearly laughed him off the stage! Think about that for a second... in an Asian country—where politeness, inscrutability and "saving face" are paramount—this is shocking, indeed. Then there's the experience of Richard Fisher, president of the Dallas Federal Reserve Bank. He recently visited China and met with government officials. In an interview afterward, he said he was grilled about the Fed's purchases of Treasury debt. "I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasury Notes. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States." As the British Telegraph noted, this is "a stark reminder that Asia's 'Confucius' culture of right action does not look kindly on the insouciant policy of printing money by Anglo-Saxons." It's clear that the Chinese, along with other foreign dollar holders, are scared about what the U.S. might do to the dollar. Unfortunately, U.S. officials don't seem to be concerned. After all, as the Financial Times explained, China is "caught in a 'dollar trap' and has little choice but to keep pouring the bulk of its growing reserves into the U.S. Treasury, which remains the only market big enough and liquid enough to support its huge purchases." Well... That USED to Be True. But NOT NOW—Not Any More! The People's Bank of China just issued a report that should have sent shock waves through our financial markets. Part of it said: "To avoid the shortcomings of sovereign credit currencies acting as reserve currencies, we need to create an... international reserve currency that can maintain the long-term stability of its value." Which "sovereign credit currencies" was the Bank talking about? The primary one in the world today is the U.S. dollar. In other words, China does NOT want to own dollars anymore! Instead, it wants a new international currency—it's OWN. In fact, the Chinese are proposing that the International Monetary Fund's unit of accounting (the Special Drawing Right, or SDR) replace the dollar as the dominant global reserve currency. And as if to demonstrate its commitment to the idea, China just bought $50 billion of bonds denominated in SDRs. Not only that, China is proposing that the SDR itself be changed. Currently, SDRs are made up of dollars (44%), euros (34%), yen (11%), and sterling (11%). The Chinese want the SDR to be 20% each of dollars, euros, yen, sterling... and yuan. This is the real shocker: China wants the yuan to be a global reserve currency. And that would put it in direct competition with the dollar! On the surface, China is only proposing the yuan as a component of the SDR. Yet the truth is, everybody knows that few SDRs are used as international reserves. The scary part is... if the yuan becomes part of the SDR, it gets instant legitimacy as a global reserve currency... and then it goes head-to-head with the dollar on international markets. Obviously, why all the effort? With so much invested in the U.S. dollar—why go through all this? Question: What Do THEY See that We Don't? Answer: Runaway Out-of-Control Deficits With No End In Sight! I honestly wish I could do something to stop hyperinflation, but at this point in time, I can't, nor can you. The forces aligned against us are simply too massive, too powerful and coming on too soon: Consider this: The recently publicized, cash-based "official" fiscal 2011 (year-ended Sept. 30) federal deficit was $1.3 trillion, Contrast that against the $161.8 billion official deficit in 2007 just before the start of the recession... And that amounts to a Whopping 79% increase in the deficit from just before the economic meltdown to now! However, since 2002 the Treasury has been reporting the government's finances using annual statements prepared using accounting standards similar to those used in corporate America. Those numbers, however, did NOT account for the annual change in the net present value of unfunded Social Security and Medicare liabilities, except in discussions and footnotes. Not once in the "official" reporting! Counting those changes, as a corporation would for its pension and healthcare liabilities for retirees, the 2008 annual deficit was $4.5 trillion, versus $1.2 trillion in 2007. Which means that total U.S. obligations—gross federal debt outstanding plus the net present value of unfunded liabilities—is at $81 TRILLION: Roughly 6 times the level of reported U.S. gross domestic product (GDP), and GREATER THAN THE TOTAL ESTIMATED GDP! These numbers are truly beyond our conception... spinning out of control... and show that the government is clearly lying about what's really happening. Not to mention that they have been deteriorating severely for fiscal 2009. Still, perhaps you're wondering, "Okay but how do they doom the U.S. dollar to hyperinflation?" Simple: With this level of liability... if anything occurs to reduce demand for U.S. debt (which we see happening with China's actions), it's doomsday for the dollar. Because their solution is always the same: If Washington can't borrow the money it 'needs', it will just print it instead. That's the classic recipe for massive hyperinflation, plunging currency values and a crisis of epic proportions. Any 'market share' the yuan receives will come mostly from the dollar—which will reduce demand for the greenback, and the house of cards will begin its collapse. As China begins to pull away and its currency competes with ours... other foreign investors will also jump as well. And That Means We are Literally a "Sneeze" Away from a Hyperinflation Crisis Beyond What Anyone Has Ever Seen! As the saying goes, "The bigger they are... the harder they fall." Such is the case with the U.S. economy. In other words, our hyperinflation crisis has taken longer to come about—but when it happens, it's almost certain to be many times uglier. No, I can't tell you the exact day it will happen... no one can. But it's obvious that the Bureaucrats and Fat Cats in Washington care too little about the repercussions of their actions—and how their spending spree is risking our savings... our retirement... everything you and I hold dear. Now, when things really get bad—do you think the Bureaucrats in Washington are going to be there for you? Do you think they will make personal sacrifices so that we can live happily ever after? Unfortunately, the answer is no. They WON'T! Therefore, it's up to you to protect yourself—and ensure your family's survival and well being! Of course the rest of the letter is an advertisement for their newsletter, but those who read this, must prepare for what is coming ahead. There is no doubt that one of the things we must do this November is to unseat the current president – to get rid of him at the ballot box – and to elect a proven leader of business and commerce, because this is what the nation needs at this time to turn this Depression around. It has become painfully obvious that the hope and change of three years ago has become the hopeless pain of today. Barack Obama promoted himself as a transitional president, and he has made good on that promise, but entirely in the wrong way. He has transitioned the United States from being the most prosperous and powerful nation on the planet to one which is being outstripped on almost every endeavor – yes I write almost every endeavor, except one – deficit spending. The United States is being used by the Federal Reserve to maintain Europe by inflating the dollar in order to bankroll the EU. After three years of this, it has become painfully evident that Mr. Obama is incapable of leading this nation, and is unwilling to change from his failed policies and adopt fiscal and monetary policies which have deepened the pains of George W. Bush’s Great Recession and has transformed it into Obama’s Greatest Depression. He must be voted out of office by the American electorate this November and sent back to his Chicago district to live the rest of his days in retirement, and the coming president must repeal every onerous and punitive policy Obama has put in place, and overturn every Executive Order he has signed if this nation is to return from the brink of oblivion and tyranny.