It is truly amazing how biased socialists are to the point that they just want to rob anyone who has more than they do and rewrite history to further their political agenda. Wayne Swan, former deputy prime minister of Australia, wrote a political piece for the Guardian that is total rubbish with the heading: “Cutting corporate tax won’t create jobs. It’s yesterday’s solution to our problems.” Swan boldly proclaims that the tax reductions of Reagan and Thatcher did nothing.

Here is the real economic growth of the USA since 1960. You will notice a sharp rally when Reagan cut the taxes. In fact, Reagan created more jobs and revenue by lowering taxes. The pretend “trickle-down economics” these people hate so much actually worked. Obama raised taxes, and he will go down in history for having the lowest economic growth rate of any American president.

Facts and evidence do not matter to socialists. They always support their ideas with fiction to justify robbing other people’s money

The Federal Reserve pushed back its plans to raise its benchmark short-term interest rate, which was widely expected following the jobs report previously. Yet this was not a credible day for the Fed in the least as they are starting to appear to be confused and skitzofrantic. Fed credibility is beginning to create a crisis behind the scenes generating doubts about monetary policy moving forward. The Fed’s monetary policy appears ai9mlessly wondering trying to figure out what to do with conflicting problems on both side of the dividing line. It’s not clear that the Fed has a grip on any theory and is revealing that those at the top perceived with so much power, are helplessly a drift in a ship without sails, rigging, a rudder, or an engine.

Consequently, after a two-day policy meeting, the Federal Open Market Committee emerged unanimously voting to hold the federal funds rate between 0.25% and 0.50%, that they are paying banks to hoard cash in excessive reserves. They are in bed with the bankers who tell them then need a place to park money without risk. The entire idea of quantitative easing was to inject cash to “stimulate” the economy. But that policy never achieved its goal and the US economy bounced back, but it was a dead-cat bounce. This has been the worse recovery in Post-Depression history because they have paid bankers not to lend money. Paying bankers .50% to hoard money has caused the velocity of money to collapse altogether. European banks are shipping cash to that States and parking it at the Fed to achieve that same riskless trade.

The Fed cannot break free of the bankers to see what they are actually doing is not stimulating the economy, but causing it to contract.

Here we have the Dow electing our Daily Bearish Reversal and Gold electing a Daily Bullish Reversal all because they FAILED to show the world they have this under control. Yet this reaction from the markets is terribly interesting. The Dow declines because the Fed DID NOT RAISE RATES, and gold rallies for the same reason. This is counter-trend to the general “fundamental” expectations.  The Dow was doing well with the prospect of a rate hike until the jobs report and it rallied but stopped dead with the Weekly Bullish Reversal at 17800. Gold crashed but held our critical Bearish Reversal at 1206 and bounced. While the gold crowd thinks a rally is good because the market will crash, at the same time we have the Dow declining with lower rates instead of higher rates. These trends are showing extreme stress in the financial markets overall.

The U.S. Department of Labor, acting on a directive of President Obama issued back in March 2014, has announced changes in the Fair Labor Standards Act (FLSA). Beginning this fall, the act will basically double the amount of money workers must make to be exempt from federal overtime pay requirements. Essentially, employees with gross salaries under $45,000 who work more than 40 hours a week must be paid overtime.

Obama could not increase the minimum wage rate through Congress, so he instructed the Labor Department to do it through the backdoor. This will definitely kill jobs and cut hours to ensure employees do not exceed 40 hours. A $15 an hour job for 40 hours comes in at $31,200 annually. By raising the threshold, Obama has more likely than not created an incentive not to hire full-time workers. This is what we get when someone has no idea of how the real world works.