Trump Says The Way President Obama Is Running The Country Is "Stupid"
By Christian Hill
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.
That’s according to Donald Trump, who painted a very ugly picture of where this country is headed under its current leadership. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”
According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”
It’s clear that Trump holds President Barack Obama responsible for the ballooning debt. Trump stated that the way Obama is running the country is “stupid.”
He goes on to point out that the downgrade of U.S. debt is inevitable.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.
“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”
While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.
Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States.
In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.
But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic.
Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction.
In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”
The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.
The blame lies squarely on those whose job it was to avoid the exact situation we find ourselves in, including current Federal Reserve Chairman Ben Bernanke and former Chairman Alan Greenspan, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary and credit policies.
At one point, Wiedemer even calls out Bernanke, saying that his “money from heaven will be the path to hell.”
But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.
The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow.
The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content.
Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.
“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”
“Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true?
“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”
Indiana company scraps plans for expansion over ObamaCare device tax
By Judson Berger
An Indiana-based medical equipment manufacturer says it's scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama's health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
"This is the equivalent of about a plant a year that we're not going to be able to build," a company spokesman told FoxNews.com.
He said the original plan was to build factories in "hard-pressed" Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.
"In reality, we're not looking at the U.S. to build factories anymore as long as this tax is in place. We can't, to be competitive," he said.
Company executive Pete Yonkman first revealed the scuttled plans in an interview with the Indianapolis Business Journal. The company later confirmed the decision to FoxNews.com.
The Affordable Care Act imposed a 2.3 percent tax on medical devices beginning in 2013. It is projected raise nearly $30 billion over the next decade.
But the Cook Medical spokesman said the impact is greater than just a 2.3 percent uptick in taxes. He said the impact on actual earnings is another 15 percent, and he projected the company's total tax burden next year will rise to over 50 percent.
Republicans and medical device makers have been railing against the tax all along, with the GOP-controlled House approving a bill last month to repeal it. The Senate, though, hasn't taken it up.
A recent study by the left-leaning Center on Budget and Policy Priorities, though, said the complaints by the industry are exaggerated.
"The tax will not cause manufacturers to shift production overseas. The tax applies equally to imported and domestically produced devices, and devices produced in the United States for export are tax-exempt," the study said. It also said repealing the tax would "undercut health reform" by requiring Congress to offset the repeal by potentially killing spending provisions in the law and by potentially encouraging similar repeals.
Cook Medical is part of a family of companies that produce medical devices for surgery, obstetrics, gynecology and other fields.
House approves 'audit the Fed' bill, marking capstone on Rep. Paul's career
By Chad Pergram, Cristina Marcos
Rep. Ron Paul, R-Texas, doesn't get his way very often in Congress. But the House overwhelmingly adopted his longstanding proposal to audit the Federal Reserve Wednesday, in a 327-98 vote.
In fact, Paul had joked with fellow lawmakers about being invited to a leadership meeting earlier in the week to discuss his bill. Paul noted he had never before attended such a conclave in his entire congressional career. That career is just about over, as the 77-year-old lawmaker plans to retire at the end of this year after a quarter-century in Congress and three quixotic presidential bids. And the passage of his Fed bill marks a fitting legislative capstone.
The "audit the Fed" package was a key part of Paul's larger economic vision
The measure's consideration on the House floor shows how Paul's brand of libertarianism has moved from an often-dismissed fringe to the mainstream.
Paul announced in 2011 that he would not seek reelection to his congressional seat while running for the 2012 Republican presidential nomination. He ceased campaigning in May and has since returned to the Capitol full-time.
The legislation has no path forward in the Senate. But Paul advocated for increased transparency at the central bank charged with setting interest rates in the same way he has for decades.
"I think when people talk about independence and having this privacy of the central bank means they want secrecy, and secrecy is not good," Paul said during Tuesday floor debate on his bill. "We should have privacy for the individual, but we should have openness of government all the time, and we've drifted a long way from that."
Meanwhile, Democrats like House Minority Whip Steny Hoyer, D-Md., argued a full audit would politicize the Federal Reserve.
"The Fed, like every other major central bank in the world, is independent and Congress has rightly insulated the Fed from short-term political pressures," Hoyer said.
Hoyer declared earlier in the week he would advise Democratic members to vote no. Ninety-seven did. But 89 voted yes, ushering Paul's bill to passage with a comfortable margin.
Paul introduced hundreds of bills during his House tenure -- many of them aimed at weakening the Federal Reserve -- but rarely built coalitions to bring them to the floor.
But Paul's crusade to audit the Fed has found its way in major legislation in the past. In 2010, he won a provision in the Dodd-Frank financial regulation overhaul that required a limited audit of the Federal Reserve.
Republicans lauded Paul's legacy during Tuesday's floor debate.
"I want to ... congratulate Dr. Ron Paul for his tireless work on this issue for many decades," said Rep. Justin Amash, R-Mich.
"I want to appreciate and congratulate Dr. Ron Paul for his tireless pursuit of openness and transparency. Without his leadership, we wouldn't be at this point today," said Rep. Jason Chaffetz, R-Utah.
Mitt Romney, Paul's former primary opponent, also lent his support.
"Ron Paul's Audit The Fed bill is a reminder of his tireless efforts to promote sound money and a more transparent Federal Reserve," Romney tweeted July 18.
House Democratic Caucus Chairman John Larson, D-Conn., who opposed the measure, said the bill reflected Paul's brand of populism.
"I think that a lot of the angst that occurs out there in the public oftentimes is directed at the Fed. Certainly Ron Paul has become an iconic figure and I think a number of people in their districts at public and town hall forums have heard that similar kind of message," Larson said.
Paul dove into politics when President Nixon eliminated the gold standard for currency in 1971. He had read extensively about the Austrian school of economics, which promotes free markets, individual liberties and currency established by scarce commodities.
He first arrived in Washington after winning an April 1976 special election -- but lost seven months later in the general election by a margin of 268 votes. In 1978, he won the seat by a decisive margin.
Paul first set sights on higher office in 1984 when he launched a failed bid for the Senate. Undaunted, he launched his first presidential bid in 1988, running under the banner of the Libertarian Party.
Paul scored only 0.5 percent of the vote.
In 1996, he returned to the House in a newly drawn district that included areas he had previously represented. Since then, he won reelection handily.
Paul sought the Republican presidential nomination in 2008 and 2012 with a small but highly enthusiastic base. Although he did not secure the nod in either contest, he had turnout strong enough to demonstrate significant support. He placed second in the 2011 Ames Straw Poll, third in the 2012 Iowa caucuses and second in the New Hampshire primary.
But Paul indicated that he placed higher importance on influencing the debate than necessarily winning outright.
"Politicians don't amount to much," Paul once said, "but ideas do."
Five Lessons My Dad Taught Me
By John M Hawkins
Who your Dad is will have a huge impact on your life. It can help push you to the highest of highs or the lowest of lows. A father's influence shapes who you are as a youth and who you become as an adult. This is true whether your father is a business professional, a craftsman, a day laborer or a multi-millionaire. Each of these occupations will have an impact on your life in one way or another. Regardless of how positive or negative your view of father is, it is important to learn from your experiences with your dad. Love your father for the lessons he is able to teach you and not the ones you wish he did. As a young boy I had hoped for the multi-millionaire father but as a grown man I am thankful for the one I had.
I came from a relatively large family. We had 7 children, four girls and three boys, and we lived in Torrance, California, a suburb of Los Angeles. My father was a finish carpenter, my mother a stay at home mom who ran a day care out of our family home to make ends meet. My father was a perfectionist and was very good at doing custom carpentry. Torrance, CA was at most 20 miles from some of the richest cities in Southern California that included Beverly Hills, Brentwood and Palos Verdes Estates to name a few. A finish carpenter is a trade job - you get paid a decent hourly rate but with seven children you can image how difficult it was to survive. For additional income my father would take on side jobs doing carpentry for some of the richest people in Southern California.
When I was about age 7 he needed a helper to go with him. A second hand got the job done in much quicker time and I worked very cheap. We started a weekly routine of me going with my father to his side jobs; I became his carpenter's assistant. As a result, I got to travel to marvelous homes all throughout the Los Angeles area. Saturday mornings became pretty special for me. I got up early between 4:45am - 5:00 am, made sandwiches for our lunch and left the mundane life in the suburbs to go help the mega wealthy with their special carpentry projects. On the drive to work, typically 30-45 minutes, I would ask questions about the job. Who owned the home and how did they become so successful? At lunchtime I would sit down on a curb or in the truck to eat my sandwich and ask my dad whatever came to mind. Along with this routine my fascination with these wealthy families developed. I became enamored by their success. I longed for my father to take the risks these great men & women took so that we too could move from the suburbs and live like the mega rich. As you can imagine my father never took these risks and we never lived like the mega rich.
What my father might have lacked in financial prowess, he made up for it in his values and wisdom. He was able to teach me five valuable lessons that have helped me become the man I am today.
World Events & Love for Knowledge
My father loved to read and was a great conversationalist. He would read at every opportunity he could, he also liked to listen to books on tape and was a wealth of knowledge. His favorite magazine was National Geographic so he had an abundance of knowledge of the world and its happenings. My father had no difficulty having content rich conversations with his clients. Those he worked for would tell him bits and pieces about their successes and what they did. He in turn would relay to me, and of course I soaked it up like a dry sponge.
Business Skills & Dealing with Clients
One of my jobs was to clean up the mess at the end of every day. My Father would insist our work area be left better than when we found it. In some cases we would be coming back the next day but that didn't matter. He also taught me never over charge a client and make sure they are happy with the work you have done. If they weren't we had to redo the work at no cost to them. I didn't know it at the time, but this was my first and most important lesson in customer service. I use it to this day.
Being Rich Doesn't Make You Happy
I got to see how the top 1% of the population lived. It didn't take long for me to realize that there was a difference in the home that I lived in with 9 people & the homes the mega wealthy lived in. I rarely saw the owners of these homes, but after years of going to their homes and seeing how they lived I naturally asked the question, "Dad why are their homes are so much bigger and better than ours"? My father never really gave me a good answer; I could tell that he never wanted fame or success that just wasn't in his DNA. He had opportunities to go to college but after taking a few classes decided that it wasn't right for him. For him success was being the best finish carpenter he could be.
We drove to these luxurious homes in my father's 25 year old powder blue ford F100. While seeing the homes and fancy cars I learned that it didn't matter what you drove, that wasn't what made who you were.
My father focused on his family, faith and being a good person. It wasn't your bank account that made you what you were. It was better to be humble and have respect for others.
I learned a lot about the world and myself from working with my father. As I look back on my view of my father I feel like I didn't appreciate the lessons I was learning at that time, I took them for granted. Now as a Man I am very happy I did not get the father I had wanted as a youth but I did get a humble, loyal carpenter who taught me more about life than any of the multi-millionaire clients he worked for ever could have.
Thanks Dad I Love You.
P.S. I am now a father of three beautiful daughters, I ask myself on a regular basis what are some of the lessons I am teaching them? I chose a different path than my father. I therefore know they won't get the opportunity that I did to sit on long car rides and eat sandwiches. I guess I'll have to wait until they grow up to learn the answer to that question.
Mercer County, Pennsylvania