Best of the Week
Most Popular
1.How U.S. Dollar Destruction Threatens the Global Economy - Steve Forbes
2.Why UK House Prices Will Continue Rising - 'It's Immigration Stupid' - Nadeem_Walayat
3. Bitcoin Price at Beginning of a Move up? - Mike_McAra
4.Gold Price to Plunge, Visiting Fort Knox - David_Hague
5.Silver Price Forecast - Metal to Gain Ground in August on These Factors - Jim Bach
6.Gold And Silver Will Rise With US Dollar Demise, Just Not Soon - Michael_Noonan
7.Bitcoin Price Strong Move Possible - Mike_McAra
8.Israel Gaza War Crimes - Soldier's Ordered to Shoot Civilians Including Children - C4News - C4News
9.UK House Prices Crash Warning - Daily Mail Cognitive Dissonance - Nadeem_Walayat
10.UK House Prices Boom - Top Quick Cheap Tips to Help Sell Your Home - Nadeem_Walayat
Last 5 days
U.S. Housing Bull Market Over? House Prices Trend Forecast Current State - 23rd Aug 14
Inflation vs the Deflationary Straw Man - 23rd Aug 14
U.S. Interest Rate Rise to Occur Mid-2015 According to Fed's Williams - 23rd Aug 14
Bitcoin Price Continuation of a Move up - 23rd Aug 14
Gold and Crude Oil Price on the Verge of Something Big - Hero's Rarely Win - 23rd Aug 14
Oxaloacetate Feeds and GROWS Brain Cells - Alzheimers Cure? - 23rd Aug 14
Gold Rising Interest Rate Fallacy - 22nd Aug 14
Jackson Hole: Myth of the All Powerful Central Banker Continues - 22nd Aug 14
Partying On In The Terror State - Thank God for Nuclear Weapons - 22nd Aug 14
The Something for Nothing Society - Lifecycle of Bureaucracy - 22nd Aug 14
Hitting The ISIS Panic Button In The Middle East - 22nd Aug 14
US Stock Indices 10-Year Consolidation Patterns ... Upside Breakouts? - 22nd Aug 14
Gold and Silver Price Getting Set To Explode Higher - 22nd Aug 14
Deflation's Final Curtain Call - Part II - 22nd Aug 14 - Clif_Droke
Gold Big Picture: Most Important - 22nd Aug 14
How the “Uncertainty Factor” Drives Crude Oil Prices - 22nd Aug 14
Inflation, Interest Rates, and Why You Should Own Gold - 22nd Aug 14
U.S. Interest Rates Can Rise States Fed President - 22nd Aug 14
Why Emotional Discipline is Key to Trading Success - 21st Aug 14
Getting the Most Value from Your “Geriatric Cruiser” - 21st Aug 14
Mafia Boss Claims Stocks A Bubble, Buy Physical Gold and Silver - 21st Aug 14
Outrage! On The Beheading of Our Media Brother James Foley - 21st Aug 14
Stock Market Crash a Historical Pattern? - 21st Aug 14
The Black Box Economy - 21st Aug 14
The Bond Market is taking Advantage of Janet Yellen`s Dovishness - 21st Aug 14
Meet Your Investment Manager - 21st Aug 14
Gold and Silver Trading Alert as U.S. Dollar Soars to New Highs - 21st Aug 14
President Obama Strongest Statement Yet on Israel Gaza War - 20th Aug 14
Peak Gold? Russia To Surpass Australia As World No 2 Gold Producer - 20th Aug 14
AI, Robotics, and the Future of Jobs - 20th Aug 14
Stock Market Investors What's Your Exit? - 20th Aug 14
The Gold War - Thinker, Trader, Holder, Why? - 20th Aug 14
Ukraine Interest Rates Soars to 17.5% As External Debt Cannot be Repaid - 20th Aug 14
Rising Interest Rates and The End of Stimuland - 20th Aug 14
Inflation Watch: $245,000 to Raise a Child in United States - 20th Aug 14
Inside the Stunning Deal That Put Apple and IBM on the Same Side - 20th Aug 14
The US Gold in Fort Knox is Secure, Gone, or Irrelevant? - 19th Aug 14
Bitcoin Price On The Brink of a Possible Reversal - 19th Aug 14
Why Tesla Stock Price Will Double in the Next 12 Months - 19th Aug 14
Europe's Economic Malaise: The New Normal? - 19th Aug 14
The Coming U.S. Economic Collapse Will Trigger a Revolution - 19th Aug 14
Market Bubbles, Bubbles Everywhere - 19th Aug 14
This is Your Economic Recovery With and Without Drugs - 19th Aug 14
Stock Market Strong Start to Jackson Hole Week - 19th Aug 14
Iraq, Ukraine - Oh, What A Tangled Mess We Weave - 19th Aug 14
How to Apply Moving Averages as a Trading Tool - Video - 18th Aug 14
Why Short Stock Traders Are Losing Money This Week - 18th Aug 14
Stock Market Rally May be Complete - 18th Aug 14
Why Chinese Citizens Invest In Gold - 18th Aug 14
Palladium Reaches 13-Year High Over $900 oz as Gold Trading Volumes Surge 66% - 18th Aug 14
Understand and Profit from Surging European Volatility - 18th Aug 14
No Escape from The Dollar as The Currency Standard - 18th Aug 14
Stock Market New Highs Less Certain - 18th Aug 14
German Stock Market DAX About To Drop - 18th Aug 14
Stay on Board - Stock Market Big Picture - 18th Aug 14
Europe Economy Is Tanking, QE Is Coming - 18th Aug 14
Are You Ready for The Greatest Technology Revolution Yet? - 17th Aug 14
Why King Coal is Bigger than Oil or Gas - 17th Aug 14
U.S. Empire of Death and Lies - 17th Aug 14
Ukraine - Whose Spin Are We Caught Up In Here? - 17th Aug 14
Time Decay And No Escape For Abenomics - 17th Aug 14
India BSE SENSEX The Party Is Over In Bombay - 17th Aug 14
Stock Market Uptrend Looks Underway - 17th Aug 14
The Key Role Of Conspiracy Theory In Dumbing Down Society - 17th Aug 14
The Federal Reserve in Denial Mode - Bond Market Explained - 17th Aug 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

The Biggest lie in Stock Market History Revealed

U.S. Government Caught Killing American Jobs, Destruction by Design

Economics / Employment Sep 13, 2011 - 09:28 AM GMT

By: Jared_Levy

Economics

Best Financial Markets Analysis ArticleA Note from Editor Jared Levy: At a time when job creation is front and center, and on an evening when our president vowed to bring jobs back into our economy, I learned of disturbing news.

An old friend of mine who used to trade with me on the floor of the Philadelphia Stock Exchange called me, outraged, after learning about the U.S. government's destruction of an American legend.


I couldn't steal his thunder, and asked him to write about it.

Destruction by Design
By BJ Dolfman

Jobs are the key to any productive society. The United States has gone from a manufacturing hub and land of pride and opportunity to a post-industrial wasteland in many parts of the country. We keep hearing that our government's main agenda is job creation.

I'm not sure what statistics our government is following, but by my calculations we are losing jobs here, not adding them. What they don't tell you is that they are great at job creation overseas.

My only thought is that the destruction of the middle class is almost by design. Every day I read news that almost brings me to tears.

The latest event is the raid of the Gibson guitar factory in Tennessee by the FBI. This is the same Gibson guitar factory that created instruments that helped mold our modern culture and is an American icon, idolized around the world.

Gibson was raided not because of tax evasion, illegal business practices or fraud.

The fed's guns were drawn was to enforce another country's law! That's right, our federal agents are wasting time and tax dollars to interrupt business at a factory that has employed many American workers for over a century.

You see, there is something called The Lacey Act of 1900, which is a conservation law introduced by Iowa Rep. John F. Lacey. Protecting both plants and wildlife by creating civil and criminal penalties for a wide array of violations, the act most notably prohibits trade in wildlife, fish and plants that have been illegally taken, transported or sold.

The law was signed into law by President William McKinley on May 25, 1900, and is still in effect, although it has been amended several times. This act generally applies to the manufacturing of guitars when endangered species of wood could be illegally used. In this case, the wood was certified legal from India's government, so the Lacey Act did not apply here.

But wait a minute!

The feds actually came into the factory to enforce laws that make it illegal for India to import raw materials (wood for the finger boards) and finish the goods outside of the country. This means that if the guitars were assembled in India, there would be no problem at all.

So our government is upset that American labor is finishing the wood that was imported from India? UNREAL! Does anyone see the irony here? I think Stevie Wonder could.

I listened to Gibson CEO Henry Juszkiewicz interviewed on a popular radio show (watch the interview here) shown a day after the raid, and he admitted that he was told that moving to Madagascar would be a "good" idea.

Am I the only one that thinks it's scary when a federal official tells a prominent U.S. business leader to take his business elsewhere?

There are a few rumors flying around, one being he is a Republican contributor and his largest competitor is a major Obama donor, and this is a favor to the competitor. I can believe that to a point, but I really think there is a deeper motive. I think the U.S. government is attempting to destroy the middle class, and by doing this will create a more obedient, desperate population that will accept any forms of austerity measures. Once you get the majority of the population dependent on the government (50 million on food stamps now) they will generally do what they are told.

Now, you might think I am crazy and paranoid, but this control grab has been going on right out in the open over the past year. The raids on organic food farms, the Amish, cops shutting down little kids' lemonade stands, threatening to put citizens in jail for having outdoor gardens, etc... The list goes on.

This raid on Gibson really set me off. We need to take a stand and put a stop to this tyranny. This is the United States, not East Germany of the 1970s. It's time to step away from our GMO foods, anti-depressant medications and video games for five minutes and realize our country is going to hell in a handbasket.

--------------------------------------------------------------------------------

Dear Reader,

There is no doubt this is a powerful, edgy and perhaps disturbing story. We are dealing with a fragmented government that lacks focus and continues to make mistakes like this that hurt not only job growth here in the U.S., but the American psyche.

It's not a right- or left-wing thing; it's about doing right for America and giving my kids and grandkids a better life than I have.

Last night, President Obama laid out a plan to improve jobs in America. While tax cuts would be nice, it seems to me that this costly plan (almost $500 billion) is not the cure we sought for Main Street or Wall Street. I am not the only one who thinks so.

Just two hours after the speech, here were the results of a poll conducted by The Wall Street Journal. Certainly there are those who feel he spoke well. Obama does have a gift with words. I am hoping for more follow-through than we've seen to date...

Until we clean up all the small details that we seem to be ignoring, such as punishing an iconic American company for keeping jobs here, we are losing the battle and will eventually lose the honor of being the greatest, wealthiest nation on God's green earth.

Remember that there is always more than one solution,

Jared A. Levy

Publisher's Note: The U.S. government is going to push us right into another recession, and this latest act to shut down an American icon is one in a string of absurd policy decisions that are forcing folks to struggle for survival. But there is hope...

Did you know that more millionaires were created during the Great Depression than at any other time in our history? Here's how you can turn this recession into an amazing opportunity.

Source : http://www.taipanpublishinggroup.com/tpg/smart-investing-daily/smart-investing-090911.html

By Jared Levy
http://www.taipanpublishinggroup.com/

Jared Levy is Co-Editor of Smart Investing Daily, a free e-letter dedicated to guiding investors through the world of finance in order to make smart investing decisions. His passion is teaching the public how to successfully trade and invest while keeping risk low.

Jared has spent the past 15 years of his career in the finance and options industry, working as a retail money manager, a floor specialist for Fortune 1000 companies, and most recently a senior derivatives strategist. He was one of the Philadelphia Stock Exchange's youngest-ever members to become a market maker on three major U.S. exchanges.

He has been featured in several industry publications and won an Emmy for his daily video "Trader Cast." Jared serves as a CNBC Fast Money contributor and has appeared on Bloomberg, Fox Business, CNN Radio, Wall Street Journal radio and is regularly quoted by Reuters, The Wall Street Journal and Yahoo! Finance, among other publications.

Copyright © 2011, Taipan Publishing Group


© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014