Obama, ‘2-yr freeze on federal workers pay’

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Obama calls for 2-year freeze on federal pay

Obama says he wants two-year pay freeze for federal employees; Congress must approve plan

Tom Raum, Associated Press, On Monday November 29, 2010, 9:47 pm EST

WASHINGTON (AP) — President Barack Obama on Monday proposed a two-year freeze of the salaries of some 2 million federal workers, trying to seize the deficit-cutting initiative from Republicans with a sudden, dramatic stroke. Though signaling White House concern over record deficits, the freeze would make only a tiny dent in annual deficits or the nation’s $14 trillion debt.

“Small businesses and families are tightening their belts,” Obama said in brief remarks at the White House. “The government should, too.” The administration said the plan was designed to save more than $5 billion over the first two years.

The proposal, which must be approved by Congress, would not apply to the military, but it would affect all others on the Executive Branch payroll. It would not affect members of Congress or their staffs, defense contractors, postal workers or federal court judges and workers.

WHOA. Stop right there.

This pay freeze ‘would not apply to the military, members of Congress or their staffs, defense contractors, postal workers or federal court judges and workers’.

I’m sorry – aren’t they FEDERAL WORKERS? So they don’t need to ‘tighten their belts’ like everyone else?!?!

GOLD, SILVER skyrockets amid Fed dollar devaluation

Quantitative Easing – a nice way of saying ‘turn the dollar’s value into dirt’. The Feds, under Benjamin Bernanke, are turning on the printing presses and issuing $600 Bil new treasury bills. The rest of the world is decrying this act, since the dollar’s value is falling worldwide. Pres Obama is backing this decision. And the price of commodities – namely GOLD and SILVER – have skyrocketed in value per ounce with no end in sight!

Gold on track for fourth straight record

SAN FRANCISCO (MarketWatch) — Gold futures rallied more than 1% Tuesday, poised to settle at what would be a fourth consecutive record, as the dollar fell and as lingering concerns about European debt attracted more investors to precious metals.

Gold for December delivery /quotes/comstock/21e!f:gc\z10 (GCZ10 1,415, +12.20, +0.87%)  added $17, or 1.2%, to $1,419.70 an ounce on the Comex division of the New York Mercantile Exchange. Silver futures notched a 30-year high and as the copper contract topped $4 a pound, the loftiest price for the industrial metal in more than two years.

http://www.marketwatch.com/story/gold-futures-top-1410-on-globex-2010-11-08

To put this in perspective, the price of gold per ounce just 3 years ago (2007) hovered around $650-$725. Precious metals experts heralded the great Gold Bull market thta has been going on for the better part of a decade now. Unfortunately this news went untouched by financial media outlets.

Even more impressive is SILVER; which has gone from $15oz to nearly $30 in the same time frame! Both precious metals have doubled or more in just the past 3 years alone.

And yet, the majority of American citizens are unaware of the current economic reality.

Boehner to raise retirement to pay for wars

John Boehner (pronounced Bay-ner, not Boner) – has already admitted to dedicating the next 2 years to fighting Pres. Obama – not fixing the economy. And now Boehner announces that in order to keep the two illegal occupations going in Iraq and Afghanistan, he proposes to raise the age of retirement to 70 years – keeping American elders from collecting Soc Sec. money so we can fund war operations.
Even if we look past the facts that neither Iraq nor Afghanistan have a standing army – yet we have been there since 2001. Or the fact that there are no CLEAR objectives other than to fight against ‘terrorism’. Or even the fact that the Bush administration initially predicted less than $100Bil and a swift victory in the Middle East – only to have surpassed $1 Trillion and nearly 10 years of occupation….

Even if we look past all of that, the question remains:

why has Pres Obama continued this foreign policy of illegal invasion? And why aren’t American people not seeing this quagmire? That our presence overseas is bankrupting our economy?

Sara Lee sells bakery operations to Mexican Co.

Sara Lee, known for its baked goods,  just announced that it will sell off its entire North American bakery operations to Grupo Bimbo of Mexico. It is reported that 13,000 jobs will be transferred outside of America, presumably into Mexico.

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Sara Lee selling its North American Fresh Bakery unit to Grupo Bimbo for $959 million

Michelle Chapman, AP Business Writer, On Tuesday November 9, 2010, 9:01 am

NEW YORK (AP) — Sara Lee Corp. is selling its North American Fresh Bakery unit to baking company Grupo Bimbo for $959 million as it looks to concentrate more on its coffee and meat businesses.

The maker of Jimmy Dean sausages and Sara Lee breads said Tuesday that the sale will allow it to aggressively expand other businesses through acquisitions and other means. The company also reported its first-quarter earnings declined, burdened by higher commodity costs and higher marketing spending.

The deal gives Grupo Bimbo 41 additional plants in the U.S. and about 4,700 delivery routes. When the transaction closes, the company will have 75 bakeries in 31 states, more than 13,000 sales routes and more than 28,000 employees.

READ THE REST HERE…

http://finance.yahoo.com/news/Sara-Lee-to-sell-N-American-apf-3222418086.html