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Thursday, June 16, 2011

Op Ed: 'Progressives are Sinking the U.S. Economy'


Here is a letter to the editor of the Delta County Independent that was written by a J.D. Evans. I felt it was worthy of a full reprint here on the P/Oed Patriot.

Here it is:


"‘Progressives’ are sinking the U.S. economy
Written by J.D. Evans
Wednesday, 15 June 2011 00:00

Dear Editor:

If anyone does not yet understand that Obama and the rest of the "progressives" in government are purposely trying to drive any semblance of a free market U.S. economy into the sewer, take a close look at the chart below. Our dollar has lost nearly half its food and fuel buying power over just the past 12 months.

This is not by accident. It is intentional, purposeful, and it is succeeding. Unless your investments are earning more than 11 percent/year, you are losing value on them. Obama clearly stated, even promised, during the 2008 campaign, that he was intent on the "fundamental transformation" of America, and he is losing no time in accomplishing that goal. Also during the 2008 campaign he said, "Under my plan ...electricity rates would necessarily skyrocket ... Coal-powered plants, you know, natural gas, you name it, whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money."

Steven Chu, secretary of the Department of Energy, also has stated, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." The House Oversight Committee recently obtained an email between the EPA Texas regional director and an environmental advocate congratulating each other on progress in creating barriers to energy production from fossil fuels sources.

Two and a half years of Obama's actions including so-called government stimulus, repaying union campaign support with not just public sector jobs but increased control of two major automotive manufacturers, vastly increased government spending, regulation of business, industry, finance, insurance and energy, all demonstrate that Obama's "fundamental transformation" is progressing nicely.

The federal government reports that "inflation is under control and there is nothing to fear." "Official" inflation is tracking at an annual rate a mere 3.2 percent which if it were true would show a healthy growth rate. The problem is that since the early 1980s, the federal government has excluded the main indicators of consumer inflation from the index used to track inflation, primarily food and fuel prices!

Any American who has visited a grocery store or put gas in their car lately would rightly assume that government numbers and the impact of rising prices do not have much in common with one another. The bottom line is that inflation is here and it is real.

When the pundits speak of inflation, they use what is known as the "Core CPI-U." The formula to achieve the number was changed in 1983 and excludes the price of food and fuel as indicators of inflationary pressure. Research analyst John Williams of Shadow Government Statistics has calculated the real rate of inflation using the same methodology the government used prior to 1983 and determined that annualized rate of inflation is not the reported 3.2 percent but actually 10.7 percent!

The chart below shows the real price changes in U.S dollars compared to other national currencies for the year ended May 23. The chart looks at the price of West Texas Intermediate crude oil (WTI), international commodity prices (RJI) and agricultural commodity prices (RGA). The numbers show that American inflation is outpacing the rest of the world by significant numbers.

As most of you know already, inflation is affecting every American. The government numbers are nothing more than a smokescreen to hide the fact that out of control spending, printing money, and market manipulation are destroying our nation's financial future.

J.D. Evans

Via e-mail

WTI RJI RJA

Oil Commodities Food

U.S. Dollar 43.6% 37.4% 52.1%

Euro 25.9% 20.5% 33.4%

Aust. Dollar 15.0% 10.0% 21.8%

British Pound 27.7% 22.2% 18.8%

Gold 12.2% 7.3% 18.8%

Swiss Franc 10.3% 5.5% 16.8%

Source: www.WesternPAC.org"


Hear, Hear...

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