Tag Archives: John Williams

John Williams ~ Budget Deficit Exploding Out of Control [Video]

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USAWatchdog April 3 2013

Economist John Williams says don’t be fooled by the new highs on the Dow.  Williams contends, “The economy is still in serious trouble.  The banking system is still in serious trouble.  The budget deficit is exploding out of control.”  Williams thinks the ongoing banking crisis in Cyprus has global implications.  Williams says, “You have a precedence set in Cyprus that they can seize the funds. 

They will not guarantee all deposits.  If that’s the case, you may have a much worse crisis than you had back in 2008.”  Williams adds, “The big problem is the government is insolvent in the long term.” 

Williams says the U.S. dollar could start selling off in May because of a deadlock in Congress on the budget.  Williams predicts, “The global markets are looking for the U.S. to address its long term sovereign solvency issues.  That’s not going to happen. . . .  In response, it’s going to be off to the races with a dollar sell-off.  That could be the trigger for the early stages of hyperinflation.”  Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com. 

Paul Craig Roberts ~ Staring Armageddon In The Face But Hiding It With Official Lies

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Paul Craig Roberts March 11 2013

According to the Bureau of Labor Statistics, the US economy created 236,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let you have at a good price.

Where are these alleged jobs? The BLS says 48,000 were created in construction. That is possible, considering that revenue-starved real estate developers are misreading the housing situation.http://www.counterpunch.org/2013/03/08/us-housing-is-the-recovery-real/print

Then there are 23,700 new jobs in retail trade, which is hard to believe considering the absence of consumer income growth and the empty parking lots at shopping malls.

The real puzzle is 20,800 jobs in motion picture and sound recording industries. This is the first time in the years that I have been following the jobs reports that there has been enough employment for me to even notice this category.

The BLS lists 10,900 jobs in accounting and bookkeeping, which, as it is approaching income tax time, is probably correct; 21,000 jobs in temporary help and business support services; 39,000 jobs in health care and social assistance; and 18,800 jobs in the old standby–waitresses and bartenders.

That leaves about 50,000 jobs sprinkled around the various categories, but not in numbers large enough to notice.

The presstitute media attributed the drop in the headline unemployment rate (U3) to 7.7% from 7.9% to the happy jobs report. But Rex Nutting at Market Watch says that the unemployment rate fell because 130,000 unemployed people who have been unable to find a job and became discouraged were dropped out of the U3 measure of unemployment. The official U6 measure which counts some discouraged workers shows an unemployment rate of 14.3%. Statistician John Williams’ measure, which counts all discourage workers (people who have ceased looking for a job), is 23%.

In other words, the real rate of unemployment is 2 to 3 times the reported rate.

Nutting believes that the U3 unemployment rate has become too politicized to have any meaning. He suggests using instead the work force participation rate. This rate is falling substantially, reflecting the discouragement that occurs from inability to find jobs.

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John Williams ~ May 2013-End Of The Road [Video]

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USA Watchdog | January 28 2013

Anybody who thinks the U.S. is in a so-called recovery isn’t listening to economist John Williams.  He contends, “We haven’t had a recovery and we’re not about to have one, and it’s getting worse.”  Williams says it’s because, “The consumer is in very serious trouble. . . . The average guy is not making it.  His income is not keeping up with inflation.”  

As far as Congress getting the budget and debt ceiling under control, Williams says,“Both sides are faced with devil’s choices.”  If Congress does not get its financial house in order by the new deadline in mid-May 2013, Williams predicts, “It will be the end of the road . . . . They are not going to have another opportunity . . . they are pushing the limit as it is now.”  Williams says he expects, “. . . a negative reaction in the next 3 or 4 months to the dollar.” Williams adamantly calls for hyperinflation to the U.S. dollar by the end of 2014.  Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.

Greg Hunter ~ Weekly News Wrap Up January 25 2013 [Video]

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USA Watchdog

Debt and guns are really the only two topics in Washington D.C. this week.  The House of Representatives passed a bill that will suspend the debt ceiling until mid-May.  It’s has a cute little clause called “No Budget No Pay,” but I think that’s just a side show gimmick.  The real deal is the Republicans are throwing a political hot potato over to Harry Reid and the Democrats in the Senate.  They are basically saying okay, your turn to come up with a budget, the debt ceiling is off the table for now.

I also think there are some in both parties that know all too well how serious the economic situation really is.  According to John Williams at Shadowstats.com, this is Congress’ last chance to fix the budget problems.  If nothing is done-again, Williams is predicting some serious negative fallout for the dollar and U.S. markets.  I’ll have an in-depth interview on Monday with him.  You will not want to miss this.

Senator Diane Feinstein unveiled a new assault weapons ban.  She wants to make dozens of guns illegal.  It will never get through Congress, but isn’t the timing odd?

The economy is teetering on the precipice of another meltdown, and she wants to take guns away from law abiding citizens.  Meanwhile, zero legislation on the state of mental health in this country.  Zero investigation on all of these psychotropic drugs pharmaceutical companies are handing out like cough drops, and zero prosecutions on big bankers that have committed trillions of dollars in fraud and crime against the American people.  This is a crime spree that is unprecedented in U.S. history. 

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Paul Craig Roberts ~ Washington’s Hegemonic Ambitions Are Not In Sync With Its Faltering Economy

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Paul Craig Roberts | January 7 2013

cartoon_droneIn November the largest chunk of new jobs came from retail and wholesale trade. Businesses gearing up for Christmas sales added 65,700 jobs or 45% of November’s 146,000 jobs gain. With December sales a disappointment, these jobs are likely to reverse when the January payroll jobs report comes out in February. Family Dollar Stores CEO Howard Levine told analysts that his company’s customers were unable to afford toys this holiday season and focused instead on basic needs such as food. Levine said that his customers “clearly don’t have as much for discretionary purchases as they once did.”

For December’s new jobs we return to the old standbys: health care and social assistance and waitresses and bartenders. These four classifications accounted for 93,000 of December’s new jobs, 60% of the 155,000 jobs.

Obviously, the economy is not going anywhere except down. It takes approximately 150,000 new jobs each month to stay even with population growth and new entrants into the work force. Few of the jobs that are being created pay well, and the constant, consistent demand for more poorly paid waitresses, bartenders and hospital orderlies is difficult to believe. If Americans cannot afford toys for their kid’s Christmas, how can they afford to eat and drink out?

Media spin seeks to create a recovery out of thin air, but these graphs from John Williams (shadowstats.com) show the reality:

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Greg Hunter ~ Nation Of Denial

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USAWatchdog.com | October 31 2012 

There is no bigger sign post about the state of the U.S. economy than the Federal Reserve’s announcement in September of “open ended”QE.  This is unlimited money printing that is being done by the Fed until further notice.  All the talk of the so-called “recovery” was reduced to a gigantic lie perpetrated on the American people.  If the economy was in a “real recovery,” the Fed would be raising interest rates, and there would be no need to create $85 billion each and every month to “stimulate” the economy.  Former Reagan budget director David Stockman says the Fed is on a “money printing binge.”  He said three weeks ago on FOX,“We’ve never had a central bank that has printed this much money. . . . I don’t think they can whistle this tune very much longer.”  To that, host Neil Cavuto said, “So if you had a lead suit, you would buy it.  If you had a cyanide pill you would take it.”  I think Mr. Cavuto was trying to make a joke, but nothing is funny about a dying empire.

Renowned investor Jim Sinclair explained money printing by the Fed on his JSMinenset.com website recently by saying, “The economy is a drug addict. The creation of money is history making in a modern economy and money creation acts exactly like a drug. Like a drug the more you take, the more you need. The more money you create, the more money you must continue to create until it goes to infinity. You go cold turkey on money creation, you unleash the economic wrath of hell in the entire Western world. It all comes down in one great implosion.”  How much trouble is the U.S. economy in that its central bank has to create unprecedented amounts of currency to keep it from “one great implosion”?  Is there any wonder why Mr. Sinclair predicts gold is going about $3,000 per ounce in the not-so-distant future, and will ultimately hit $12,000 per ounce.  (I would take Mr. Sinclair seriously.  He has a track record of making very big calls on gold that date back to the 1970′s.  I wrote about this 2 years ago.) 

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Paul Craig Roberts ~ The Virtual Recovery

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Paul Craig Roberts | October 29 2012

Since mid-2009 the US has been enjoying a virtual recovery courtesy of a rigged inflation measure that understates inflation. The financial Presstitutes spoon out the government’s propaganda that prices are rising less than 2%. But anyone who purchases food, fuel, medical care or anything else knows that low inflation is no more real that Saddam Hussein’s weapons of mass destruction or Gadhafi’s alleged attacks on Libyan protesters or Iran’s nuclear weapons. Everything is a lie to serve the power-brokers.

During the Clinton administration, Republican economists pushed through a change in the way the CPI is measured in order to save money by depriving Social Security retirees of their cost-of-living adjustment. Previously, the CPI measured the change in the cost of a constant standard of living. The new measure assumes that consumers adjust to price increases by lowering their standard of living by substituting lower quality, lower priced items. If the price, for example, of New York strip steak goes up, consumers are assumed to substitute the lower quality round steak. In other words, the new measure of inflation keeps inflation down by reflecting a lowered standard of living.

Statistician John Williams (shadowstats.com), who closely follows the collecting and reporting of official US economic statistics, reports that consumer inflation, as measured by the 1990 official government methodology has been running at about 5%. If the 1980 official methodology for measuring the CPI is used, John Williams reports that the current rate of US inflation is about 9%.

The 9% figure is more consistent with people’s experience in grocery stores.

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John Williams ~ Dollar Sell-Off And Hyperinflation By 2014 [Video]

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USA Watchdog | October 24 2012

Economist John Williams says the latest round of “open-ended” QE has set the table for a global “dollar sell-off” and“hyperinflation” no later than 2014.  Williams says, “There’s no way the consumer can fuel the economic recovery, and there is no way we’re going to see one in the near future.”  Williams predicts, “The Treasury is going to have funding problems, and that means the deficit gets a lot worse.” 

Now, there is talk the Fed might increase the money printing.  Williams charges, “The Fed’s primary concern is to keep the banking system afloat, and they’re not doing so well with that.” Williams contends there is 12 trillion in liquid dollar assets held outside the U.S.  Williams says it is only a matter of time before all the Fed money printing will “trigger a sell-off . . . and that will provide the early start of the hyperinflation.”  You think the U.S. is better off today than it was in the last meltdown?  Not according to Williams, he thinks, “. . . things have gotten a lot worse.”  Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.

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Paul Craig Roberts ~ The Revolution From Above

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Paul Craig Roberts | September 13 2012

Today the Western peoples are experiencing the destruction of their well being that is comparable to what the one percent in Rome imposed on Roman citizens and conquered peoples. Here is how John Williams (shadowstats.com, 9-12-12) phrases the wipeout of Americans’ hopes:

“Consumers simply cannot make ends meet. Inflation-adjusted, or real, median household income declined for the fourth-straight year, plunging to its lowest level since 1995. Deflated by the CPI-U, the 2011 reading actually stood below levels seen in the late-1960s and early-1970s.”

“At the same time, despite the ongoing nature of the economic and systemic-solvency crises, and the effects of the 2008 financial panic, income dispersion—the movement of income away from the middle towards both high- and low-level extremes—has hit a record high, instead of moderating, as might be expected during periods of financial distress. Extremes in income dispersion usually foreshadow financial-market and economic calamities. With the current circumstance at a record extreme, and well above levels estimated to have prevailed before the 1929 stock-market crash and the Great Depression, increasingly difficult times are likely for the next several years.”

This chart shows where the median household income of the US Superpower, the “indispensable people,” stands at the culmination of 2011. Americans are as well off as they were in 1967-68. Most americans cannot pay for fighting multi-trillion dollar wars for 11 years, bailout trillions of dollars in uncovered casino bets by Wall Street, have their middle class jobs sent abroad by corporations, and still expect to have higher personal incomes.

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John Williams ~ Hyperinflation Is Virtually Assured [Video]

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USA Watchdog | September 12 2012

The Federal Reserve is talking about “unlimited QE,” or money printing, to boost employment.  Economist John Williams says,“That’s absolutely nonsense.  The Fed is just propping up the banks.”  Williams says, “You’re likely going to see a dollar sell-off . . . That should evolve into hyperinflation.”   Williams,“Doesn’t see the current system holding together without hyperinflation beyond 2014.”  He contends the real annual deficit is “$5 trillion per year” and says, “That’s beyond containment.”
Williams predicts, “Hyperinflation is virtually assured because the Fed doesn’t have any options left.”  Williams says people should get prepared because we are facing a “man-made disaster.”   Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.

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Greg Hunter ~ One on One with John Williams (video)

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USA Watchdog | June 27 2012

Anyone who thinks the U.S. is in recovery should stop listening to the mainstream media and listen to John Williams.  He heads up Shadowstats.com, and is one of the few economists who crunches the numbers to give unvarnished true statistics.  Adjusted for real inflation of about 7%, Williams says, “GDP has plunged, and we have been bottom bouncing” ever since the financial crisis started.  Williams says, “The next crash will be a lot worse (than 2008) because it will push us into the early stages of hyperinflation.”  He predicts this will happen “by the end of 2014– at the latest.”  Long before 2014, Shadowstats.com thinks there is a good chance of “panic selling of the U.S. dollar,” if the Federal Reserve starts another round of money printing (QE3) to save the system and the big banks.

No matter what Williams predicts, “There will eventually be a crisis to bring the system down as we know it. . . . We’re on the brink.”  According to Williams, “at some point, you will see a new currency in the U.S.”  The founder of Shadowstats.com sat down for a one on one interview with Greg Hunter to talk about the mathematical certainty of a systemic collapse in the not-so-distant future.

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Greg Hunter ~ It’s Official: Economy Heading Down

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USA Watchdog | May 7 2012

There has been so much bad economic news out, recently, I do not see how anyone with half a frontal lobe could say the economy is not in trouble. Friday, new unemployment figures were announced, and a weak 119,000 jobs were created. The rate fell to 8.1%, but only because more discouraged workers stopped looking for work and disappeared from the government’s data base. In Friday’s report, economist John Williams of Shadowstats.com summed it all up by saying, “The headline U.3 unemployment rate dropped a statistically insignificant notch to 8.1% in April, from 8.2% in March, but the “good” news was anything but good. The declining pace of headline unemployment reflected an accelerating increase in the number of the headline unemployed giving up looking for work, because there were no jobs to be had. . . . The SGS-Alternate Unemployment Measure, accordingly, notched higher in April to 22.3%, from 22.2% in March.” So, unemployment in the real world actually went up—not down. According to outplacement firm Challenger, Gray & Christmas, planned job cuts rose 7.1% in April, and more than 40,000 more workers are going to be laid off.

Housing is another sad story. Year-over-year housing prices continue to decline despite record low 30-year mortgage rates below 4%! In the last two years alone, 1 million homeowners who bought houses lost money and are underwater. In January, the Federal Reserve estimated 12 million Americans owed more than their homes were worth. Economist Robert Shiller of the Case-Shiller home price index lamented, two weeks ago, “I worry that we might not see a really major turnaround in our lifetimes.”

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Greg Hunter ~ Bottom-Bouncing Economy

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USA Watchdog | April 17 2012

“Bottom-bouncing” is the term John Williams of Shadowstats.com uses consistently to describe the true state of the economy.  The mainstream media would like you to believe that with every slight uptick in the economy, we have hit bottom and are in a so-called “recovery.”  The upticks are reported with wild enthusiasm, while the downticks are brushed over.  The latest bad news for the economy came from the housing sector.  CNBC reported Monday, “In a stark reversal during the heart of the spring housing market, confidence among the nation’s homebuilders dropped in April to levels not seen since January.  An association index measuring sentiment fell three points, changing course after seven straight months of gains. It now stands at twenty-five; fifty is the line between positive and negative sentiment.   ‘What we’re seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September,’ said National Association of Home Builders Chief Economist David Crowe in a release.”

Maybe sentiment is down because actual housing starts are also down nearly 6% in March.  But that’s not really the point to focus on according to Shadowstats.com—it is the overall trend.  In his latest report, Williams said, “March 2012 housing starts fell by a statistically-insignificant 5.8%, versus February 2012, but that was no more than the 40th-straight month of stagnant business activity.  This period of stagnation, or bottom-bouncing at historically-low levels, followed an unprecedented 75% plunge in housing activity from 2006 through the end of 2008.” 

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