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Schiff: Obama Caught “Peddling Fiction” to Hide Pre-Election Recession

Mac Slavo
March 10th, 2016
Comments (41)


Despite the extent to which the officials in the White House, and the talking heads in the media and on Wall Street deny that the economy is faltering, it is this very issue that is driving voter outrage in the direction of Trump and Bernie.

It’s the jobs, stupid!

And since Obama can’t fix it, he’s lying about it to maintain appearances.

Because so many have become so ill-adjusted to the unforgiving job market, there is great talk about why our national policy is directed towards destroying employment, income, savings and the American dream in general.

After 8 years, it is a problem that Obama may have inherited, but will now have to own.

Peter Schiff claims that:

In his seventh, and final, State of the Union address this January, President Obama, clearly looking to bolster his legacy as the president who vanquished the Great Recession, boldly asserted that “Anyone claiming that America’s economy is in decline is peddling fiction.”  Unfortunately for the President, more and more Americans seem to believe (with an adequate basis for proof) that the fiction is emanating from the White House.

It’s hard to imagine how anyone can really assert with a straight face that the economy is currently “strong.”


Companies have been incentivized to cut their full-time work force… The view from the street looks quite different, as workers prefer one good job to several bad ones. This is why rallies for Donald Trump and Bernie Sanders are so well-attended. The underemployed are fed up with platitudes from the elites and they flock to these outsider candidates, who seem to understand their pain.

Never mind these two as individuals, but what they represent as symbols. Americans are completely fed up with establishment – and they aren’t ready to accept being pushed back in for another round.

I don’t expect that the President will ever officially acknowledge that the economy has weakened, let alone relapsed into recession. He has walked out too far on his rhetorical branch to walk it back. As a lame duck, he really has no incentive to do so.

The Obama White House has been hiding an economic holocaust during his two terms. Symbolically elected to dispose of the mess created by George W. Bush’s administration and the economic collapse that was engulfing people already drowning in debt.

Instead, he has cheered on the illusion that “recovery” is near, while the bankers have accumulated more wealth than ever, and are waiting for the next wave of the crash to come down on the population.

Meanwhile, critics have accused Yellen – publicly very silent about policy decisions – of timing the blow of the recession.

The recession itself is presumably inevitable, but the announcement and reaction to it could change the major issues of the election cycle, and potentially swing even more votes into those camps who are running as anti-establishment. Trump has previously accused the Fed of waiting to raise rates in order to avoid embarrassing Obama:

But Janet Yellen is in a very difficult spot. If she continues to ignore the growing signs of recession, she runs the risk of letting one develop prior to the election. This would favor the Republican challenger, whether that is Donald Trump or Ted Cruz, neither of whom would be inclined to reappoint her as Fed Chairwoman if elected. Allowing the Greenspan bubble to bust on Bush’s watch sealed John McCain’s fate, allowing Obama to ride a wave of voter outrage into the White House in 2008. Yellen does not want Trump to catch a similar wave in 2016.

As a result, I expect the Fed to soften its rhetoric in the very near future.

As Schiff himself has pointed out many times before, the entire situation is made worse by the prolonged and belabored attempt at cushioning the impact. For better times to be had by all, the Fed out to stop propping up a market of speculators driving a bubble in real estate and other over-priced assets.

Since that isn’t going to happen, pay attention to the handling of the “political football” as Obama & co. try to pretend that job growth is happening and stability is here to stay.

Read more:

Trump Accuses Fed of Not Raising Rates Because Obama “Doesn’t Want a Bubble Burst” Until He Leaves

Ron Paul: Unless the Fed is Stopped, America Will “Soon Experience Major Economic Crisis”

NYT Jokes About Trump Assassination: “Good News I’ve Figured Out How Trump Campaign Ends”

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Author: Mac Slavo
Date: March 10th, 2016
Website: www.SHTFplan.com

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  1. Anonymous says:

    Just change the way the statistics are reported a little bit and everything looks fine.

    At least on paper.

    And Americans aren’t of a nature to believe in what they see happening around them more than what they see on paper.

    • Rebel In Idaho says:

      Most Americans are too apathetic to get upset they are being lied to by the government. While some will have heard how the numbers are manipulated and reporting methods have been revised so many times since Carter etc. most of them simply don’t care that much. Of course most haven’t even attempted to acquire even basic information in the first place.

      I wager that the great uninformed masses would care even less they are being lied to than the minority that has been exposed to the truth and still mostly doesn’t care.

      Further I will wager that more Americans can name the head coach of their state’s college football team and at least 1 players name than can name either of their states two senators or their representative in the house. Anyone care to bet I’m wrong on this?

    • Enemy of the State says:

      Its the old adage

      Figures dont lie, but liars can figure .. and with the ‘o,
      lies are all he has

      • KY Mom says:

        Enemy of the State,

        We assume O follows the advice of his heros…

        “Make the lie big, make it simple, keep saying it, and eventually they will believe it.”
        -Adolf Hitler

        “All propaganda has to be popular and has to accommodate itself to the comprehension of the least intelligent of those whom it seeks to reach.”
        -Adolf Hitler

        “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie.

        It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
        -Joseph Goebbels

        “Think of the press as a great keyboard on which the government can play.”
        -Joseph Goebbels

        • KY mom
          creep me out but these the exact quotes Bush’ campaign manager, Lee Atwater, used all the time. On tape. He is downright famous for it.

          • KY Mom says:


            Send me links. I had not seen these.

            KY Mom

            • KY Mom
              I am not so good as you with links!
              I suggest watching The Boogie Man, a documentary about Lee Atwater. He worked on Karl Rove, GHW Bush, and GW Bush campaigns. He was a master of fear porn and changed the face of the Republican Party. I was an active Republican at the time. The movie is a pretty good overview. He died young of cancer and in abject fear of going to hell. He was intensely interested in Nazi manipulation and control through fear. Past the documentary, Google: Lee Atwater and nazi.

      • Sarge says:

        Lies lies always lies. What else would one expect from the liar-in-chief…

  2. Kulafarmer says:

    No matter where you go
    There you are

  3. Sgt. Dale says:

    I don’t believe he has told the truth about the economy from the day he took office.

    Why do you think I call him Obullshit!

    Be a great time for the Republitards to bring up the economy, and push it hard.


    • anonymous5 says:

      The reality is….Obama has set out from day 1 to destroy this country.

      Once people understand that is his mission, then everything becomes clear.

      He should be tried for treason. But he won’t.

      But he will not escape the judgment of God.

  4. db427 says:

    here’s one for eppe:

    little six year old boy (Timmy) gets a train set for his birthday. as he is playing, his mother is listening from the next room. she hears him say: “Alright all you assholes, hurry up, get up and move.. we are on a tight schedule here. this train has to be in Santa Fe by noon! Move it!!!”
    the mother rushes into the toy room and says: “Timmy, that is no way to be playing, and that word is unacceptable. you young man are on a time-out… now go to your room.”
    about 2 hours go by, and she lets little Timmy out of his room, and tells him to go play nicely while she makes them lunch.
    so Timmy goes back to his train set, sits down and says: “ladies and gentlemen, please have your tickets ready. we will be boarding and heading for Santa Fe as soon as everyone has there tickets punched. as for anyone who has any complaints about the 2 hour delay, please speak with the bitch in the kitchen.”

  5. Vicky says:

    If the Republican party doesn’t use this bogus information against the Dems, they’re too pathetic to follow. I’m looking for the link on the BLS (you can remove the “L”) which stated that unemployment would be 26% if older standards were used. The company for which my husband works had a 1,900 person lay-off and it wasn’t even mentioned in our left-leaning newspaper. His job was spared, but we are horrified by what has happened to co-workers. I wouldn’t believe Obama if he said the sun rises in the east, or that it was raining, even if the countryside was flooded all around. Am wondering if any of the true history of this traitor will come out after he’s gone, if in fact he actually does go away.

    • Enemy of the State says:

      sorry to hear this , and no his job is not spared .. its just a matter of time ,, especially if the company let that many “workers” go

      it may just take a while to trickle up to him

      • Enemy of the State says:

        whats his plan for when that company goes completely belly up?

        thats whats coming

        • Enemy of the State says:

          my take on the true unemployed number.. is to take the number of people on assistance ( around 45% or more ) and add about 12% to that .. than you have the REAL %.. or at least closer to the truth than the lies were being told

      • Vicky says:

        That’s true. Unpleasant, but true. We’ve been expecting something to blow soon, but didn’t really see this coming. I don’t know that one ever suspects “the bell tolls for thee”, since we’ve been lucky for quite a long time. We are out of debt and the house paid for which make it easier for us without that worry. We’ve prepped for a long time, but this isn’t the form of SHTF I expected. Normalcy bias in action. We will have unemployment for however long Ohio can pay it, and some small income from my part-time job which is sufficient for real estate and local taxes. What a shame that busting my butt will only pay for taxes. Compared with many of our co-workers, we’re lucky, but I feel guilty because so many of them are young and totally unprepared. I’m sure that somewhere, Obama is gloating. A vast majority of employees are White and Christian and male. So is my husband, one of the nicest and most talented men I know.

    • Jacknife says:

      Vicky, good post. A couple years ago I did my own math on the unemployment rate using the numbers from the natl debt clock and that 26% is about what I came up with. I think it’s crossed north of 30% now. Also, the company I work for, which is in the top ten best to work for in the US, hasn’t laid off yet but has a very strict no OT policy right now. I know people have their own opinions, but I happen to think that it really doesn’t matter who gets elected, I don’t think what’s coming can be stopped. I think this election stuff is a diversion. I hope and wish I’m wrong.

    • KY Mom says:


      Sorry to hear about the 1900 person layoff at the company where your husband works.

      The government has new “terms” to measure employment.


      These terms are DIFFERENT measurements.

      Also, they base these “official” employment figures on a “household survey.”

      The term “LABOR FORCE PARTICIPATION” includes people who are UNEMPLOYED, but are ACTIVELY SEEKING A JOB.

      February 2016 data released…
      Labor Force PARTICIPATION Improves
      “62.9 percent of the civilian noninstitutionalized population either holding a job OR ACTIVELY SEEKING ONE.”
      ht tp://www.cnsnews.com/news/article/susan-jones/labor-force-participation-improves-slightly-94m-americans-not-labor-force

      From the BLS news release – employment February 2016
      Household Survey Data, Page 2
      “The employment-population ratio edged up to 59.8 percent over the month, and the labor force participation rate edged up to 62.9 percent.”

      “In February, 1.8 million persons were marginally attached to the labor force. … These individuals were NOT IN THE LABOR FORCE, wanted and were available for work, and had looked for a job sometime in the prior 12 months.
      They were NOT COUNTED AS UNEMPLOYED because they had not searched for work in the 4 weeks preceding the survey.”
      ht tp://www.bls.gov/news.release/pdf/empsit.pdf

      • Vicky says:

        Thank you. Your post makes more sense than mine and I appreciate the data. I’m too emotional right now to write a good post about this terrible situation. Jacknife also has a good grasp of the economy. This must be somewhat similar to the French Revolution when you watch the head of your friends come off and know you’re not too far down the line. We are finally debt-free, unlike many others, and have prepped for years. Not quite the SHTF situation I was expecting, but just as disrupting. Hoping for good weather this year as this will be the first garden that really counts.

        • Philosopher says:

          If you are out of debt and have had a garden that puts you ahead of 97% of the US population.

          The one SHTF scenario which worries me the most is a widespread economic collapse here in the US. Most people are not prepared, at all. By being out of debt, being able to garden, and having some preps that puts you in a very small group, I estimate about 3% of the US population.

          Chin up! Coming from a family that knows how to work, how to save, and how to garden is an asset that makes you stronger and much more prepared than most. It sounds like you will do fine. What is that old saying, “when one door closes another door opens.”

          There is only one constant in life: change.

        • GardenNut says:

          That’s terrible. Boeing did a similar thing back in the day (1990’s). Actually, they laid everyone off for Christmas and then hired a tiny portion back on after New Years. It’s absolutely devastating to a community.

          If you are in a frost inclined region, drape fabric over your plants if it’s predicted to be 40°F at night. That way you won’t be caught off guard by a surprise frost. Best of luck to you.

    • Philosopher says:

      I have figured the real unemployment rate is somewhere between 25% and 30% for whites and more likely 50% (or higher) for blacks. 45 million people are on foodstamps and more than 110 million Americans receive some type of government aid. Throw in the lowest labor participation rate in sixty years with the highest numbers of both legal and illegal immigration and no wonder young people can’t get a job unless it is as a bartender or waitress. People that want to save money and don’t want to invest it in the stock market / casino have few choices other than cash, PMs, or some type of collectible or tangible item that is likely to maintain its value over time.

      I hope that people are waking up and realizing the globalists could care less about them or their families. At least, in Trump, he actually loves this country and wants to see only good things for all citizens of America. When will the US stop giving away free stuff to illegals? I don’t know.

    • Sarge says:

      Vicky, don’t expect any help from the puppet minions of the ‘elite’. BOTH parties are just two sides of the same coin. The roots of the problem are puppet masters of the NWO. Learn from one who’s seen the workings of the insiders. America can still get free IF we stand our ground! Listen (google):
      Lindsey Williams Secrets Of The Elite DVD 1

  6. Enemy of the State says:

    ht tp://www.infowars.com/fbi-instructs-high-schools-to-inform-on-anti-government-students/

  7. cranerigger says:

    The CBO (Congressional Budget Office) made itself irrelevant many years ago when they manipulated many of their statistical calculations to yield political results. 3 types of lies : LIES, DAMN LIES, & STATISTICS.

  8. albert says:

    Unprecedented numbers of ads begging for contributions to Food Banks, Coat boot and clothes drives, and the Chinese Economy that would be busy cranking out cheap junk for Americans is stalling …………….. REAL RECOVERY

  9. Jim in Va. says:

    Bogus birth certificate….bogus employment statistics….bogus everything coming out of Washington.

  10. GardenNut says:

    I keep trying to look at the bright side. As the article says, there’s no way in hell Obama’s administration wants the real numbers out before the election, so that gives us 8 more months to prepare. Hopefully. One more pseudo-stable summer and harvest is nothing to sneeze at. If the numbers do come out, then Trump or Cruz takes the throne, which would be a wayyyy better outcome than Hillary or Sanders.

    There’s nothing I can do for the country but plant more trees, put up my garden, vote, and pray for the best. If we can all keep our families alive through what comes then I say that’s a pretty darn good thing.