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Those who do cling to the absurd belief that, absent exponential productivity gains, the economy can expand while workers are being laid off will undergo a massive test of their convictions now that it’s clear the employment picture is bleak. Today’s weaker-than-expected report on non-farm payrolls revealed that employers shed 263,000 jobs in September. The losses propelled the headline unemployment rate to a 26-year high of 9.8%. U6, the Bureau of Labor Statistics’ most complete measure of unemployment, has risen to a dismal 17%. This figure includes those people who want to work full time, but have simply given up looking, or who have accepted part-time work in the interim. As it is similar to the methodology used during the Great Depression, U6 offers better historical perspective on the severity of our current crisis.

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Eventually there was bound to be a reaction from liberal-left politicians to the Ron Paul-led effort to audit the Federal Reserve. That reaction appears to be taking shape in the form of Senator Chris Dodd’s plan to create a super agency to oversee, especially now that the Dodd plan received front-page treatment from the New York Times on Sunday.

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The Federal Reserve, an independent organization apart from the U.S. government, largely has operated behind a veil of secrecy for decades, but Paul told WND today that its operations could be about to face the light of day.

“We have 289 cosponsors for the bill, including 111 Democrats and all of the Republicans, so we’re doing well,” he told WND.

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(Liberty Tree Lantern readers should also be advised that The China Syndrome might cause the imminent collapse of The Matrix, financial core meltdown, even sooner than forecasted; should they decide to sell out American debt and dollars to protect themselves from the imminent collapse of the programming of our minds, known as our economy based on Monopoly Money that we call The MATRIX.

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The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.

“If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart.

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James Madison, the father of our constitution, explained, “If Congress can do whatever in their discretion can be done by money, and will promote the general welfare, the government is no longer a limited one possessing enumerated powers, but an indefinite one subject to particular exceptions.” He later added, “With respect to the two words ‘general welfare,’ I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators.” Thomas Jefferson said, “Congress has not unlimited powers to provide for the general welfare, but only those specifically enumerated.” That means only those powers listed.

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Because of this awesome power to create money out of thin air, the Fed has jumped in to stabilize ailing financial firms by pledging over $7 trillion through various guarantee programs and credit facilities. This is equivalent to over half of the entire nation’s GDP. Over $1 trillion of this is already in play, propping up banks and other institutions that should be allowed to fail. All of this has taken place with no oversight by Congress. The Fed was created by Congress, and it is unconscionable that we have allowed it to act in such a way without our oversight. Currently the Federal Reserve’s credit facilities, open market operations, and agreements with foreign governments and central banks are all exempt from any sort of audit or oversight. Earlier this year I introduced the Federal Reserve Transparency Act, HR 1207, that would remove all restrictions on Federal Reserve audits and call for a f ull audit of the Federal Reserve System to be completed by the end of 2010. At this writing, 245 of my fellow Congressmen have cosponsored this bill and we hope to have hearings in the near future. In the Senate, Republicans Jim DeMint, Mike Crapo and David Vitter have cosponsored S. 604, companion legislation introduced by Bernie Sanders. I am very encouraged by the tremendous growing momentum on Capitol Hill.

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During the 1990’s, Wisconsin enacted legislation to encourage recycling and waste reduction, including prohibiting certain items from being placed in landfills and establishing financial assistance payments to local governments to operate local recycling programs. To fund these programs, businesses and municipalities pay a variety of surcharges and tipping fees on every ton of solid waste disposed of in landfills throughout the state. Essentially, tipping fees are taxes paid on garbage.

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“The last thing we need is a massive tax increase in a recession, but reportedly that’s what the White House is offering: up to $1.9 trillion in tax hikes on every single American who drives a car, turns on a light switch or buys a product made in the United States,” said Michael Steel, a spokesman for House Minority Leader John A. Boehner. “And since this energy tax won’t affect manufacturers in Mexico, India and China, it will do nothing but drive American jobs overseas.”

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I thought we could mark this April 15th “Income Tax Day”, a day that lives in infamy as the day of enslavement where our earnings, our property, our hard work and sweat are stolen and given to Big Banks, Big Corporations, Big Government, Executive Bonuses, Corporate Jets, huge powerful Unions, The Federal Reserve company (the largest and most powerful privately held international corporation in the world) and spent to oblivion on all manner of things and places that do nothing for us or our families, as an ongoing nightmare, by taking some time out of our daily lives to sit down and have a little chat.

There are of course those who do not want us to speak.

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