In the light of the latest controversy over employment numbers, John’s boralogue explains why the government and Federal Reserve have vested interests in fudging their official numbers. He runs a clip from John Williams at Shadow Government Statistics (www.shadowstats.com) to explain why the jobs numbers aren’t connected to the real world.
Financial observers seem to be living dual lives. On one hand, they see a series of train wrecks coming. On the other, they keep trying to make plans as if life were going to continue without serious bumps. So whither the dichotomy? Let’s use an example.
Suppose the government stopped deficit spending today and we soak the rich to pay off our debt, how long would it take to pay it all off? The answer is staggering. The average household would still have to fork up $3,500 a year into the far distant future. In essence, we’re going to have to carry it forever and just service the interest payments. Boy that will keep you up at night. Matthew Jensen guests from the American Enterprise Institute (www.aei.org).
The global security situation continues to deteriorate but political correctness prevents us from speaking directly to the issues we face. As we’ve said, PC thinking kills people because it deludes them into thinking they’re safe when they’re not. Frank Gaffney from the Center for Security Policy (www.centerforsecuritypolicy.org) joins the show for a spirited conversation on the global goals of Islam as well as the Iranian situation.
Larry Pratt from Gun Owners of America gives an update on the Fast and Furious scandal and fatality numbers in both Mexico and the U.S. (gunowners.org)