By Earl R. Lofland,
Oct 29, 2009
Americans need to know the truth.
The report published today in the News Journal on the state of Delaware's Unemployment rate, does are not show the
The News Journal reported:
"The federal stimulus program has created or retained between 1,055 and 3,065 jobs in Delaware, according
to a report being released today by Lt. Gov. Matt Denn."
The Stimulus bill where States agreed to borrow money from the Federal Government, actually caused an increase in
the Unemployment levels not only in Delaware, across the United State. If any jobs were saved or created, these were
only state employee jobs that were not forced to be cut or related to bigger government subsidized programs,
discussed at a Middletown Town Hall meeting with Gov. Markell of Delaware who agreed to accept the federal loans.
I would like to see a report done by the News Journal on Bluewater Wind. And, I have made inquiries to Mr Mike
Chalmers, who is responsible for wirting the above article to do a factual report on the real problems related to a
company who is promoted as one of the companies who are generating jobs, according to Governor Markell at the
town hall meeting in Middletown several weeks ago. The company Babcock Brown and Company has been delisted
from their own nations stock market for bad management and bad debt problems (New Zealand and Austrailia).
Will the editors and chief of staff of the News Journal determine the topic too sensitive or controversial for political
ratings to be sustained or elevated for the current state officials running for office and Federal administration? Will
they be unbiased in reporting ethicaly on this political topic? They haven't reported this yet, Infact the news reports
are actually promoting Bluewater Wind to be creating or saving jobs. A Farce.
I have done research on Babcock Brown and Company PDF Shareholders reports, as well as Bluewater Wind. And,
I find a substantial amount of evidence to disprove this company actually will save or create job opportunities. It is
also a heightened risk for sustainable new or existing businesses in the State of Delaware as Delaware Department of
Economic Devlopment Office and state officials are promoting, without an extraneous amount of risk placed upon
the US Government to, thrust upon the American public an additional bailout to a foreign owned company Babcock
Brown and Company, (who owns Bluewater Wind), inorder to complete a job they are going to be unable to finish.
According to a report published last month by the Bureau of Labor Statistics; the Unemployment rates were broken
down by each county in Delaware.
Kent County: currently at 8.2 % this year. Up from the 5% level in 2008,
New Castle County: standing at 8.7%, (up from 5.2 % in 2008- A 3.5% increase)
Sussex County was at 6.9% (up from 4.2% in 2008 - An increase of 2.7%)
Across the entire state of Delaware: the Unemployment level according to the BLS actually increased from 4.9% in
2008 to 8.2% this year. According to this report; that is about a 30% increase in unemployment levels from last years
report This was last modified on September 14, 2009
On October 22, 2009 the BLS published the Mass Layoffs Summary
Employers took 2,561 mass layoff actions in September,resulting in
the separation of 248,006 workers, seasonally adjusted, as measured by
new filings for unemployment insurance benefits during the month.
Since last year, the numbers increased in mass layoff events by 271, associated ini-
tial claims increased by 7,285. Mass layoff events (23,745)
and initial claims (2,410,208) both recorded program highs Since Last Year.
In September, in the manufacturing sector 856 mass layoff events were reported, sea-
sonally adjusted, resulted in 97,066 initial claims. Over the month,
the number of manufacturing events decreased by 44, while associated
initial claims increased by 3,174
In a report that was published just this week it shows that the studies are only reflecting the new filers for
Unemployemnt, and this does not include those who are recieving state or Federal extensions on their unemployment
It is also reported by economists, the employment market will remain weak until business owners are ready to hire
Robert Dye, senior ecnomist at PNC has been reported to say "We typically see unemployment claims drop quickly at
the start of of an improving cycle [economic recovery], and level out mid-cycle."
" It's in the leveling out stage right now, so we'll only see modest improvements in jobless claims as the unemployment
rate peaks in the next few months," Dye added This is to suggest that there will be an increase in new filiers for
unemployment claims in the upcoming months.
Though GDP grew at a 3.5% annual rate in the third quarter and ended a year-long streak of declines, Dye said the
economy is only starting to emerge from from the deep recession.
Unemployment rates are expected to peak above 10%, and until it does jobless claims will only fall by modest
amounts business owners are not ready to hire and hold a great deal of concern on hiring next year because of a
lack of production in factories and uncertainty in the economy, including health care legislation.
The health care debate has to be ended, inorder to allow business owners to estimate their employment costs and
make further decisions on whether to begin hiring, or downsizing and the elevates the risks for further layoffs in the
US Markets to adust their overhead operating costs.
Banks have loaned money to the Fed and to the government, via Treasury securities, at an interest rate spread of
some 3 to 4 percent without risk. Given these incentives, it makes no sense to loan to anybody else. So, despite a
massive increase in the monetary supply, credit remains tight and price levels flat. (banks are not lending as liberally
as would be needed for a balanced sustainable economy to decrease unemployment levels, and, to increase new
business opportunities and jobs, (At very best prevent downsizing government jobs.)
According to a report published today by Mr. John Browne, Senior Market Strategist for Euro Pacific Capital, Inc.
he stated " If the Fed stops paying interest on bank reserves or otherwise ‘persuades’ the banks to lend, the $1
trillion will be leveraged up by the banks and spewed out into the economy. Fractional reserve banking will
transform a $1 trillion monetary base injection into a $9 trillion increase in money supply. When that
happens, prices for everything will go through the roof. thus causing Inflation." Inflation will then result in
increased Intrest rates to be passed on to the borrowers on credit cards and other bank products like home
motgages, Auto Loans etc.
Mr Brown went on to say:
"So for now, inflation is like a ninja stalking our economy. It’s lurking in the shadows but can’t easily be seen.
But once its strikes, it will be fast and deadly. "
Obviously, according to the federal governments reports, a dramatic contradiction is being seen from what Lt.
Governor Matt Denn was to have released, and reported in the News Journal today.
I don't like being cynical, or abrasive, yet I will argue the topic is incorrect.
Why was a report published on something in a light that is less then factual to what has been reported by the US
Governments Bureau of Labor Statistics?
Honest reporting is something that Americans are to rely upon for being able to prepare for any potential problems
that may affect their lives. It is a fact, this increased level in Unemployment will reduce individuals purchasing ability
that will ripple to the business sector not generating a taxable revenue. Even with the current reports of the rise in
the Gross National Product. This will result in having to increase Taxes of some form, whether it is in Business
licenses. property taxes, Drivers licence fees or other forms of state revenue. Less tax revenue coming in to the State
results in the state will be unable to pay back the debt incurred when it accepted tthe Stimulus Loan from the US
When the US Government is incapable to pay the loan to the Federal Reserve, The Fed will be unable to
pay back what it has borrowed from other nations like China. What do you expect will happen when we can not pay
China ? Imagine for a moment 3 years from now. They will be demanding from the US Government. So Sorry for you
luck USA, What do you have that we can use? How about....
Delaware! Give us, Alaska Kentucky, Pennsylvania. Oklahoma Texas and Washington DC.
Have you ever had someone come to your home 3 AM and seize your automobile for not paying the Bank on the
loan? They are called Recovery Specialists by trade. You know them as the REPO MAN or WOMAN.
So, maybe; that page titled recovery.gov is not to for recovery like many Americans are assuming. It is the
Governments version of the REPO MAN/WOMAN. getting ready to hand over portions of Government land to other
nations we are in debt to. Thanks to borrowing money from a corrupt non government entity known as the Federal
What else would a lender do? Go back to 1929 and the stock market crash. Blue Collar American workers were
investing in the Stock markets Borrowing money from the Banks to take part in the stock market Boom. Thus for the
name of the Roaring 20's. When individuals like JP Getty, Henry Ford Charles Schwab, And others pulled their money
out of the stock market, it caused the banks to demand the money loaned to the blue collar worker to off set the fall in
stocks. And thus was the beginning for creating the Federal Reserve to control the US Government and the people.
Shifting from purchasing durable goods like real estate to forcing Americans to borrow money from banks for non
durable goods as well as durable goods .
When you can't pay your loan say on your home. Americans who are holding 2 or more motgages on their homes
causing toxic lending practices, combined with the Nations Unemployment up 3.7% from last years level of 6.0% to
9.7%. What is going to happen in about 3 years or less when the unemployment level in the US reaches 12% or
more? And according to the Economic researchers the interest rates will be forced increase. 30-40 or possibly as
high as 60%, to hasten a pull back of the excess currency over a duration of 15 or more years. Our sustainable debt
is over 100% hundreds of trillions of dollars in debt and interest combined that has been approved by Congress, and
practices that are decades old from an out of control irresponsible government. From the stimulus bill along with
almost 400 Billion more being needed for the Health Care bill not to mention the added debt that has been incurred
for the Military and law enforcement involvements in Iraq, Afghanistan and other parts of the world.
Add the $592 billion dollars that was spent on building the new Embassy in Iraq. and all the expense that will be
required for staff, upkeep and security with it being opened. Multiply this by each embassy that the US Has in each
country. And what can you call this; other then becoming the police state of the world?
For recent news proving this is nothing more then the us governments idea of indoctrinating people to believe we are
to be a global police force. A concept that is a total opposite and perversion of the principles the framers of the
United States had.
"President Obama left the White House unannounced a few minutes before midnight and flew to Dover Air
Force Base in Delaware, where he received home the bodies of 18 U.S. military and law enforcement
personnel killed Monday"
Elected officials conflict on a daily scale for decades with the principles of individuals like George Washington,
Thomas Jefferson, and Mr Benjamin Harrison. Mr Harrison was one of the 55 signers of the Declaration of
Independence" "We Americans have no commission from God to police the world." -Benjamin Harrison
Member of the Continental Congress 1774-1777 from Virginia; Chairman of the Committee of the Whole House;
Reported the resolution on June 10, 1776; Offered three days before by Richard Henry Lee, declaring the
independence of the American Colonies; reported the Declaration of Independence