Pre-Election Farce!

• Pre-Election Farce! 
  by http://truthingold.blogspot.ca/ 
  October Jobs and Unemployment Numbers Were Not Credible, Artifacts of a Broken Reporting System and/or Direct Manipulation– John Williams, www.shadowstats.com
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  Also from John Williams’ latest report, which is worth the price of subscription if you want to have access to someone who has studied and analyzed Government statistics over several decades:
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  The headline numbers (or the general substance of the reporting results) usually are known a week or so in advance, and early release of data to officials in various administrations and at the Federal Reserve has been common in the past and as suggested in former Clinton Labor Secretary Robert Reich’s autobiography
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  With a downturn in October’s online help-wanted advertising, weakening employment growth in the ISM’s October purchasing managers manufacturing survey, and significant indications of slowing activity, not accelerating economic growth—to be discussed in the upcoming Special Commentary—the October labor data indeed were not credible.Enough of that.  I think the market’s response to the jobs report on Friday told the real tale, if you don’t want to believe the facts as they are presented by guys like John Williams…
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  Along with any credibility associated with the jobs report, I want to bury the idea that either Presidential candidate will have a specific effect on the stock market, precious metals, or the catastrophic U.S. fiscal/economic situation.  The popular promotion in the media is that Romney will be good for stocks and bearish for metals.  The latter idea I guess because of his threat to get rid of Bernanke, who is an economic strawman for the banks anyway – as would be his successor.
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  Let’s take a look beneath the hood of this argument.  We’ll look at the black and white numbers with no editorial or slant.  The Government is currently borrowing 40 cents of every dollar it spends.  If it were to cut spending in a meaningful way to reduce that number – let’s say a 10% cut across the board in order to reduce that borrowing rate to 30 cents – imagine what that would do to the economy.  Imagine if they cut entitlement spending by 10%.  People would starve and seniors would go without healthcare.  The Dept of Defense,  the largest employer in the world with 3.6 million employees, would have to unload close to 400,000 employees.  The only thing a 10% cut would do is reduce the rate at which the Government is accumulating debt, if the economy stayed the same, which it woudn’t.
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  If the Government cut spending 10% to try and take a whack at the deficit spending, it would send our system in an economic tailspin and throw our economy into a depression that would make the 1930’s look like a day at Disneyland..  Now imagine that Congress passed a hard law require immediate balancing of the budget.  40% of all Government would stop.  That would annihilate our system.  Armageddon.  Mad Max.  A balanced budget would only stop the increase in debt accumulation, it would do nothing to reduce the $16+ trillion outstanding.  Ahh, but under any of these scenarios, Romney is promising 12 million new jobs…
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