Neal Asbury opened his nationally syndicated “Neal Asbury’s Made in America” show on Radio America (now on 45 stations) by wondering how fewer jobs were created last month—with previous months revised upward–but the unemployment rate still went down? It’s a pattern that the Obama administration has practiced from the very beginning: manipulating the numbers to make it appear as if jobs are being created while in reality only low paying part-time jobs are being created at the expense of higher paying full-time jobs.
Neal’s first guest was radio host and author Chuck Morse, the author of “Art and Science of American Money,” which examines the history of money and currencies with a particular emphasis on the story of American currency from Colonial times to the present
Morse noted that the Federal Reserve was started as an independent cartel of banks and investors, and given the legal trust to create and control currency, including set interest rates.
“But this arrangement doesn’t reflect the Constitution which stipulates that Congress should create money. So now the Federal Reserve creates money and lends it back to the government, with interest. They are essentially skimming off every dollar earned by every American,” proposed Morse.
Morse noted that one of the root causes of the Revolutionary War was that the only currency considered legal tender in the colonies was the money issued by the Bank of England. Some states objected and created their own currency which the Bank of England banned. This actually led to a depression in the fledgling colonies.
“The idea of a central bank has always been a bad idea and presidents throughout history have tried to end it. When you let an organization monopolize the money supply, it puts the economy at risk, which contributed to our depressions,” said Morse.
Neal and Co-host Dr. Rich Roffman returned to a discussion that started during last week’s show when Dr. Roffman noted that cronyism has led to Obama fund raising bundlers being given prestigious ambassadorships without any experience in the foreign service.
“I don’t remember that the criterion for becoming a U.S. ambassador was being able to bundle – you needed some skills,” suggested Dr. Roffman.
“Caroline Kennedy was recently named ambassador to Japan, even though she has no experience in international relations, doesn’t speak Japanese, and has no experience in trade relations. Japan is the world’s third-largest economy, an important U.S. ally, and is starting to make noise changing the U.S.-imposed constitution that officially enshrines Japanese pacifism. A militarized Japan would pose a great threat to Asia and to the rest of the world,” noted Neal, adding “We can’t have an amateur as the ambassador at this crucial time in our Japanese relations.”
The discussion turned to the sobering news that four of out five adults are on the verge of poverty, are unemployed or are on welfare as reported by the Associated Press.
“When 80 percent of our citizens are suffering, it means that the American Dream is slipping away. And that doesn’t take into account the fact that home ownership—as reported by Bloomberg– is at the lowest level in 18 years,” said Neal.
Dr. Roffman proposed that these statistics indicate a further deterioration of our economy.
“We have 46.2 million white Americans in poverty, which dwarfs the situation for black and Hispanic Americans whose poverty rate is three times higher. We hear about the economic recovery, but a jobless recovery is a phony recovery,” said Dr. Roffman.
Returning to Made in America was Dr. Peter Morici, an American macroeconomist and Professor of International Business at the R.H. Smith School of Business at the University of Maryland, College Park.
He proposed that we should be concerned that 800,000 workers were forced to take part–time jobs since January 2013 at the same time that there was a 93,000 drop in full-time jobs.
“Under Obamacare it’s only going to get worse. In 2014 the health insurance regulations will be even more rigorous, costing employers even more money. You’re going to see more employers replacing full-time workers with part-time workers,” said Dr. Morici, who added that Obama’s jobs orientation is limited to fast food restaurants since he and his staff have no affinity with manufacturing.
Made in America’s final guest was MacMillin Slobodien, Executive Director of Our Generation, which is launching Reform SSDI Now, a new campaign to educate Americans about the rising costs of Social Security Disability Insurance (SSDI) and how waste, fraud, and abuse are harming taxpayers and jeopardizing this constantly expanding federal entitlement.
Slobodien revealed that that when disability insurance was created during the1950s it was intended for workers with a long job history who became disabled, and was a bridge toward when the worker would collect social security. But during the 1970s and 1980s, it became a welfare stick and an add-on to unemployment. Now the program is projected to cost $190 billion by 2030, covering some 9 million people in 2012 and 11 million by the end of 2013.
“This program will not be solvent by 2016. Part of the problem is that lawyers have seen this as a way to make money and are increasingly representing workers who have been turned down for disability coverage. In 2006 there were 10,000 attorneys taking on disability cases, but by 2010, it grew to 20,000. In 2006, lawyers collected some $500 million. It will rise to $1.6 billion during the coming years,” said Slobodien, who added that lawyers get even more money since they are due a percentage of any benefits accrued since the original disability claim was filed.
Neal and co-host Dr. Rich Roffman concluded the show by returning to the topic of cronyism and its impact on job creation.
“Now we’re seeing that the federal government has created a special program only for laid-off Boeing workers, as a result of the cozy relationship between the Obama administration and the International Association of Machinists. Boeing workers can receive up to 90 percent of the cost of travel expenses if they travel to look for work; 90 percent of relocation costs; and they get a tax credit for ¾ of their healthcare insurance. And if they are 50 and over, and take a job that pays a lesser salary, the government will pay up to $10,000 as supplemental pay for 2 years,” said Dr. Roffman. “This is an outrageous example of cronyism and sticking taxpayers with the bill.”
Each week Neal Asbury’s Made in America provides Neal’s insights into the week’s top news stories and their impact on the worlds of entrepreneurship, small business ownership and the overall economy. Neal’s analysis, together with co-host Dr. Richard Roffman, a veteran 30-year publisher with extensive domestic and international experience, takes a non-biased approach based on real life experience in business as an American manufacturer and exporter. Made in America airs nationally each Saturday from 7-8:00 PM on Radio America. Link to Made in America at http://www.nealasburysmadeinamerica.com.
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