Job Reports: Covering Up the Grim Reality

The recent reports being released by the Bureau of Labor Statistics would make the average citizen believe that we have an economy that is growing and regularly gaining jobs every month.   In fact, according to the report for February, it was the twelfth consecutive month of over 200,000 jobs created.  The problem with these reports is how they represent the data they have collected.  If we begin to dig deeper into the information and how they determine each statistic we quickly come to realize that there is a dark and grim truth underneath these positive sounding numbers.

Let’s begin dissecting these numbers and the reality behind them.  For February the BLS said unemployment was down to 5.5% from 5.7% in January and the economy created close to 300,000 jobs.  So here’s the first important issue, the people they counted in those unemployment numbers are called “U3” unemployment, which means they’ve been actively looking for the last four weeks.  If you were someone who actively looked for work up until one day before the last four weeks then you are not counted.  You’re considered a “discouraged” or “marginally attached” worker.  The unemployment number also doesn’t count those who are only doing temporary work and could switch jobs in between surveys.

That’s not the only number the survey isn’t counting either.  Workers who have given up searching for work because they believe there aren’t any jobs for them anymore are put in a category called U6.  This class of workers is roughly 11% of the workforce, but they have been dropped from consideration because of their long lack of activity in pursuing a new job.  According to Dawn Bennett when you add up all these numbers you will sadly discover that roughly 23.1% of Americans capable of working aren’t.  Obviously, that doesn’t take a genius to realize something is seriously wrong.

If you think those facts are startling; hold on to the seat of your pants then.  According to the report, 58,700 of the jobs created in February were waiters and bartenders.  These jobs also happen to have gained the most in the minimum wage category over the last eighteen months, but these definitely aren’t the full time jobs that give people financial stability and independence.  Part of what has wrecked the American economy over  the last twenty years has been the free trade agreements, such as the North American Free Trade Agreement (NAFTA) and when China joined the World Trade Organization (WTO) in 2001.  These agreements have cost us American manufacturing jobs to the tune of roughly 2.1 million+.  As Dawn Bennett points out, this has caused American households to lose wage growth and also lead to ballooning trade deficits with these countries.

Our economy isn’t as strong and robust as many would like everyone to believe.  It’s time for all of us to pull our heads out of the sand and examine the information we are being given more closely, so that we know what is happening and how to best invest our money.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

 

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

 

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett or dbennett@bennettgroupfinancial.com

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A Storm is Brewing

The economy has been trending upwards for some time, or so that’s what the media and everyone in D.C. would like to lead us to believe.  There is more than meets the eye though.  Yes, it is true the stock market’s prices have been on the up and they appear to be doing quite well over the last six years.  However, underneath that shiny looking exterior is a grimmer and unsettling picture.  The economy has been adding jobs, but these jobs aren’t high paying and they aren’t providing the full 40 hours that adults need in order to live a stable lifestyle.  Furthermore, people with full-time jobs aren’t seeing wage growth needed to keep up with inflation.

Dawn J. Bennett has been tracking and covering these problems in detail for years now and is calling out to investors to put their thinking caps on.  It is no longer enough or safe to simply be well educated on the markets; investors need to really dig deep so that they have a more fundamental understanding of what is happening with the economy.  For example, just recently the University of Michigan’s final February consumer sentiment numbers were released and it went from 98.1 in January to 95.4 in February.  This means people are beginning to lose hope in the idea that incomes will rise and better business opportunities are coming.

Another warning signal that has smacked us straight across the face is the drop in the Chicago Business Barometer from January to February.  In January the rating was 59.4 and in February it plummeted to 45.8 – that’s the lowest it’s been since 2009.  For those not familiar with the Chicago Business Barometer it is also known as the Chicago Purchasing Manager Index (Chicago PMI).  It measures the health of the manufacturing sector and in general when the score falls below 50 it indicates contraction in the future for the economy.

We all wish the bad news ended there, but Dawn J. Bennett has done her research and has more that indicates a storm is coming for us.  The Bureau of Economic Analysis (BEA) also recently revised its estimate for fourth quarter 2014 GDP growth down.  The revised number was 2.18% which was roughly a 43% drop from the third quarter.  Downward revisions in GDP growth are always a major warning for the economy and it appears as those in the Federal Reserve and D.C. are blind to these realities.

It’s time for investors to stop glossing over these important numbers and details.  There has been too much aggressiveness in the market lately over unstable investments.  It’s time to pay attention to the smaller numbers and dig into reports to gain a real understanding of what is happening in our economy.  It’s time for everyone to stop letting themselves be told the future is sunny and smooth sailing because the reality is we’re heading into a major economic storm that will be brutal for lots of us.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.
For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com
Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.
About Dawn Bennett
Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com
She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.
She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

Why the Student Loan Credit Market is Ready to Burst

Despite the President’s insistence that the U.S. economy is in good health, expert financial analysts agree that in reality, it’s on the verge of repeating 2008’s financial collapse. This is largely the result of economic policies that, as with 2008’s housing bubble, have facilitated the emergence of asset bubbles throughout a range of industries. Among the many industries at risk of becoming “bubbles,” the student loan credit market seems poised to be the economy’s most vulnerable given the President’s new plans for higher education.

While the Obama Administration’s proposal to provide two free years of community college to students nationwide may be a good will attempt to increase access to higher education, it will ultimately channel money from the wealthy to the middle class, and in doing so, create an education bubble. Plans to offer excessively low interest rates for student loans will only exacerbate this bubble. At a time when the average student loan debt for a 25-year old graduate is $33,000, talks of loan interest rates being “too low” may not be popular; however, the underlying point is valid.

On one of her recent shows, Dawn J Bennett, host of the Financial Myth Busting with Dawn Bennett radio show, spoke with Freedom Works analyst Logan Albright, who agreed that when asset bubbles do begin to burst, the student loan credit market will be the first to go.

As Albright notes, nobody’s trying to argue that the average amount of student loan debt isn’t high; the issue is that rather than trying to make the cost of tuition manageable, we’re simply taking measures to extremes by providing essentially non-existent interest rates, extensive lines of credit, or in some cases, completely free education.

The student loan credit market has been on a dangerous trajectory for decades now, which is one of the primary reasons it will likely be the first sector of the economy to burst. The asset bubble magic recipe—high prices, easy money, and highly accessible credit—is certainly at play in today’s student loan credit market. As of last month, the student loan credit market surpassed the 1 trillion dollar mark, which means it’s the largest source of consumer debt in the United States. In the fourth quarter of 2014 alone, cumulative student loan debt increased by $31 billion.

In addition to rising costs of college, overextension of credit, and low interest rates, the student loan credit market is further hindered by its lenders inability to pay off their debts. The current job market, despite the President’s praises, simply doesn’t provide graduates with the means to consistently make their payments. Student loans maintain the highest level of delinquency (at 11.3 percent) compared to every other form of debt in the country.

Some, like well-known investor Mark Cuban, have gone so far as to predict that not only will the student loan credit market burst, it’s burst will effectively put colleges out of business. While this remains to be seen, there’s one thing that Cuban, Bennett, Albright, and others in the financial industry agree upon: the government’s approach to overseeing the student loan credit market has paved a clear path to a student loan bubble, one which all signs indicate is more than ready to burst.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

 

Quantitative Easing Exiting Stage Left…Or is It?

dawn j bennett quantitative easing

Quantitative easing may finally be on its way out. At least that’s what we can gather from the latest World Economic Forum held in Davos, Switzerland this past January. The summit’s executive summary stated that given transformations and advancements in politics, economics, and technology, it’s time to normalize monetary policy, and this will only come by scaling back quantitative easing.

For approximately the last seven years, fiscal policy in both the U.S. and abroad has largely centered on the policy of quantitative easing, which refers to the process of introducing new currency into a nation’s money supply through the purchase of assets like government securities. Quantitative easing is generally a policy used to lower interest rates during a time of economic hardship, which is why the Federal Reserve pursued three phases of quantitative easing shortly after the economic recession of 2008. Though their approach to quantitative easing has been highly controversial and the cause of the stock market’s misleading representation of the health of the economy, the Federal Reserve announced in the fall of 2014 that its October 15 billion dollar government bond purchase would be the last step in its quantitative easing policy.

According to Dawn J Bennett, financial money manager, CEO of Bennett Group Financial Services, and host of Financial Myth Busting with Dawn Bennett, though this international “agreement” to depart from quantitative easing is much needed, it won’t be easy for everyone.

The primary reason the international community can expect bumps along the road ahead? Europe isn’t ending quantitative easing—just yet. In fact, Europe’s Central Bank began purchasing additional assets (1.1 trillion euros) on March 1st, which means that even as philosophy about quantitative easing has sharply shifted, policy has yet to catch up. Here’s why it’s problematic:

  • The European Central Bank has a limited number of assets it intends to purchase; these assets will come exclusively from the euro zone’s government bonds, while other futures contracts from the United States and Europe will not be pursued. A limited range of assets both heightens risk and limits the effectiveness of the policy.
  • To avoid unfairly aiding certain countries (i.e., Greece), the European Central Bank will only purchase 33% of bonds from individual issuers. However, because Greece will likely demand more money from the Central Bank to climb out of its present financial crisis, and because the Central Bank is now only able to provide them with 1/3 of what they ask, there could be trouble brewing for all to the tune of a bank shutdown.
  • The longer the EU pursues a policy of quantitative easing (as politicians determine which fiscal policy to pursue next), the weaker the euro becomes. A weak euro doesn’t put any future fiscal policy in a good starting position.

The fundamental differences that exist between the economic structures of the U.S. and the eurozone should also raise eyebrows about the practicality of the eurozone’s quantitative easing policy. Whereas the U.S. was able to benefit from being pushed into pursuing riskier assets like corporate bonds, the eurozone is far more dependent upon its banks, which means that there will be less benefit to an increase in its capital market.

As the eurozone’s quantitative easing process gets underway, we can only watch as what the leaders at Davos herald to be unsuitable economic policy weakens the European economy.

 

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

 

Investors Be Wary: The Dollar is on its Way Out

How long can a good thing last? In the realm of finance and economics, when things just seem too good to be true for too long, it’s a near guarantee that a downturn is just around the corner. As Dawn J Bennett, host of the Financial Myth Busting with Dawn Bennett talk show and long-time money manager argues, though the strengthening dollar and the Federal Reserve have maintained an aura of invincibility for several years now, their time will soon be up. In Bennett’s eyes, the Federal Reserve has already proven its fallibility by demonstrating that its four-part Quantitative Easing strategies and two Operation Twist programs did not, in fact, result in a stronger, more expedient economic recovery. Rather, their efforts have culminated in the worst economic recovery in the last 75 years with an economy that’s actually decreased in size. What’s more,  Bloomberg reports that the U.S. annual median income is still 4.4% less than what it was in 2000, which hardly paints a picture of recovery. The economy may be performing better than it was in 2008, but that doesn’t mean it’s truly recovered, or that we can blindly expect the “good times” to keep on rolling.

dawn j bennett weakening dollar

What’s perhaps most troubling is that the Federal Reserve continues to claim its approaches are effective, and the government and the public seem to be wholeheartedly buying in. While many are quick to note  that the dollar has reached an 11-year high in surpassing the Euro, or that 8 of the 10 most profitable companies in the world are based in the United States, are these accurate ways to assess our own economic fortitude? What about the fact that the majority of these other countries are currently experiencing economic slumps? Can we really say we’ve made a spectacular comeback by comparing ourselves to others who happen to be doing worse?

Further, the fact that the Fed’s policies are driving the dollar into the ground should be somewhat obvious to both itself and our government. The principles of inflation and devaluation are covered in even the most basic of economics courses; we know that the greater the supply of something (in this case, the dollar), the more likely its value will decrease. So why has the Federal Reserve held so firm to its belief that the printing of trillions of additional dollars won’t lead  to inflation and devaluation? What’s more, while the Federal Reserve is hard at work undercutting the dollar, other countries are already in talks to make sure the dollar is on its way out, making public their desire to abandon reliance on the dollar and create a new international currency.

As Bennett sees it, the dollar will unquestionably dwindle in strength in the coming years; so the question is not whether we can reverse the Fed’s actions or thwart the ambitions of other nations, but rather how we, as individual investors, can prepare for the dollar’s demise.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett or dbennett@bennettgroupfinancial.com

 

Charter Schools, Common Core and the Case for Financial Literacy

The case for bolstering financial literacy efforts in the U.S. may now gain more traction thanks to an inaugural Program of International Student Assessment study that measured the financial literacy levels of 15-year olds from around the world. The study found that in terms of their skills and knowledge, students in the United States ranked between 8th and 12th place among the 18 countries studied. For a nation that boasts the world’s largest economy, such a ranking is both embarrassing and cause for concern. The study also found that about 20 percent of students in the U.S. don’t maintain basic proficiency in finance—a figure 3 percent higher than the average of students who weren’t proficient in other countries.shutterstock_216143215

Financial experts like Dawn J Bennett, CEO of Bennett Group Financial Services and host of the Financial Myth Busting with Dawn Bennett show, have long argued that financial literacy is a skill imperative to America’s youth. But young adults shouldn’t have to earn a degree in economics to graduate with the type of money management skills needed for a lifetime of financial stability (and a strong economy). Unfortunately, there are currently few avenues for students to acquire these needed skills and knowledge outside of the home.

One sector that has started to make financial literacy a priority, however, has been the charter school system. In an interview with Bennett, President and CEO of the National Alliance for Public Charter Schools Nina Rees stated that she sees this subject as both essential and complementary to existing K-12 curriculums, arguing that preventing another economic crisis depends in large part upon a generation that has the financial acumen to effectively manage their money and recognize poor investments when they see them. Incorporating finance as part of a K-12 curriculum is also a way to supplement or introduce new math skills to students, which can significantly improve math scores. Rees also noted that charters schools are uniquely positioned to target the nation’s financial illiteracy because they operate outside of the bounds of state and federal mandates. Curriculum and teaching styles can therefore be more quickly altered to better meet the needs of the students.

The key to continuing these financial education opportunities lies in part with increasing funding for charter schools. While President Obama has been a champion of charter schools throughout his administration, Rees argues that more federal funding is paramount to reaching a larger number of students; given that there are currently 1 million students awaiting acceptance into charter schools in the U.S., there’s no denying that this alternative to traditional public education is valued by a growing number of parents and students.

The Common Core curriculum presents further challenges to charter schools and their ability to address financial literacy. While publically-funded schools are not required to adopt the Common Core, the Obama Administration has made it difficult to defer, as acceptance of this curriculum is accompanied by significant federal dollars. The Common Core curriculum is therefore becoming a part of many charter schools, and its new benchmarks are influencing the things that previously set charter schools apart from their traditional public counterparts, like their ability to cover a wide range of important, yet sometimes overlooked, subject matter.

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

The Dangers of the Strengthening Dollar

A strengthening dollar is good news for any recovering economy, right?  Given the dollar’s current soaring value and the continued improvement of the U.S. economy, such would seem to be the case. However, a strong dollar isn’t always a sign of good times to come, as financial money manager and radio host Dawn J Bennett  recently discussed with Dr. Paul Craig Roberts, Former Assistant Secretary to the Treasury.  In what ways is a strong dollar potentially dangerous?

dawn j bennett devalued dollar

According to Roberts, part of the reason the dollar carries the potential to incite negative consequences is because of its role as the world’s reserve currency, which has allowed it to wield disproportional power over the currencies of other countries. This presents some notable disadvantages, including the fact that any unwise monetary choice we make will most certainly negatively affect the rest of the world. Take for example, our current fiscal policies. The Federal Reserve continues to print large quantities of money as part of its multiple quantitative easing efforts, and has also implemented markedly low interest rates; a 10 year Treasury bond holds an interest rate of just 1.87%. Were the GDP of the United States increasing in tandem with these low interest rates and influxes of currency, there wouldn’t necessarily be reason for concern. But, as Roberts points out, given that the value of our goods and products have actually remained stagnant, the Federal Reserve is priming the well for a major bout of inflation—not to mention positioning the strength of the dollar as an asset bubble itself. In short, were the dollar to sharply decrease in value as a result of inflation, so too would the value of holdings around the world. The unsound practices the U.S. implements today therefore won’t just hurt our own economy when they inevitably “burst,” they’ll deliver a blow to the entire global economy.

A dollar that maintains too much strength also weakens the success of U.S. big business. The stronger the dollar, the weaker the currencies of other countries; while Americans benefit from cheap imports under a highly-valued dollar, our big business exports end up costing foreign purchasers much more, and in turn reduce sales. According to a Washington Post article, recent stock market decreases already serve as indications of how big business is losing out to a stronger dollar.

What’s more, the dollar’s integral role in the world market has unfortunately been leveraged to suit the U.S. political agenda. Economic sanctions have become a frequent course of action for coercing nations to fall in line with our objectives as a result of the dollar’s necessity to economies around the world. Those like Bennett and Roberts find it hard to believe that the dollar will avoid devaluation in the coming years given these increasingly unpopular sanctions. Already nations like Brazil, Russia, China, South Africa and India are moving away from the dollar and forming their own international currency.

Ultimately, as Roberts suggests, until the United States takes a less “arrogant” approach to how it deals with the dollar and reverses unsound fiscal policy, we can expect that the dollar will no longer reign supreme.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett ordbennett@bennettgroupfinancial.com

 

Investors Need to Beware the Machiavellian U.S. Government

Dawn J. Bennett warns investors that even a Machiavellian U.S. Government can’t hide the financial truth!  Dawn tells how there is very little agreement in the U.S. government today about what is right and wrong.  In the current Machiavellian system what really matters are the ends, not the means.  She says we are lost because we have forgotten the values and principles of our Founding Fathers, namely, a free people cannot survive under a guiding Constitution unless they remain virtuous and morally strong.

Dawn feels that today’s U.S. government has lost sight of its meaning.  Samuel Adams once said, “Neither the wisest Constitution nor the wisest laws will secure liberty and happiness of a people whose manners are universally corrupt.  He, therefore is the truest friend to the liberty of his country who tries most to promote its virtue, and who will not suffer a man to be chosen into any office of power and trust who is not a wise and virtuous man.”  Dawn J Bennet sees that in the last 10 years the government has lost citizen trust, and wonders how it will ever regain it.  She says the media has led government officials into believing that the American people think they are doing a good job, and never lost trust in them.  This media, or propaganda, about the state of the U.S. economy is one of the greatest propaganda coups of our time.

Dawn says that Bernanke, now Yellen’s experiment in market central planning in which a bank’s balance sheet is far more important than fundamentals is one of the greatest investing perversions to ever emerge in U.S. markets.  The stock returns over the last five years have been duplicitous, disproportionately skewed to the upside.  Giving the sense that we are in a recovery, but this isn’t true.  The Dow Jones Industrial had a huge decline during the week of July 21, 2014.  Then Amazon reported their worst earnings in years, causing their stock to tumble.  On top of all that Caterpillar’s earnings, the bellwether industrial company, were down again for the 19th consecutive month.

Despite all the claims of a financial recovery, we are really still in a financial crisis.  Dawn J Bennett wants American investors to not be easily manipulated into investment victims.  It is important to investors that they look at reality and figure out who can be trusted.

Dawn Bennett Investigates DOJ Misconduct with Sidney Powell

It’s important that we keep our government honest and hold it to the highest standards possible, especially if we want to improve as a nation.  This is why Dawn J Bennet did an interview with Sidney Powell, author of the new book, Licensed to Lie: Exposing Corruption in the Department of Justice, on her Nationally Syndicated Financial Myth Busting Radio Show.  Sidney Powell is a long time lawyer with over 500 Federal appeals resulting in more than 180 published opinions.  She is one of the greatest whistle blowers in history.

According to Mrs. Powell there have been constant abuses of power by the Department of justice (DOJ).  The three biggest offenders have been Catherine Rumler, Matthew Friedrich and Andrew Weissman.  Mrs. Powell along with Bill Hodes filed grievances against them but the courts and bars did nothing about the cases.  This is why Mrs. Powell’s book is titled “Licensed to Lie”.  They found that the bars and courts were unwilling to help in any form.

Mrs. Powell believes that there was a hidden agenda behind all of this.  Matthew Friedrich was Acting Attorney General for the criminal division of the DOJ, where he micromanaged the prosecution against former U.S. Senator Ted Stevens.  Unseating Ted Stevens created a shift in power that allowed Obamacare to be passed.

Mrs. Powell’s book named a lot of big names, but she still hasn’t received any responses in regards to her new book.  She told Dawn J Bennet that the DOJ has become extremely politicized in the last 10-15 years.  It has become a tool to promote the presidential agenda, and will continue to be such until people are called to answer.  Mrs. Powell hopes that the DOJ can eventually be restored as a bastion of integrity.

In her new book Mrs. Powell covers the rampant misconduct within the DOJ, such as prosecutors charging defenders with a crime even if it isn’t a crime.  She believes this type of misconduct within government agencies may be more widespread than just the DOJ.  The DOJ’s ethical misbehavior is most obvious because of how much power it has over a person’s daily life.

Since the DOJ recently closed a case in which they received a $7 billion settlement against Citibank Dawn J Bennett asked how they had handled cases involving the public sector, and Mrs. Powell didn’t have  kind words for that either.  She pointed out that Fannie and Freddie who caused a great deal of financial disasters haven’t been investigated very well.  In fact the heads that caused the disasters got to leave with a $180 million between them in bonuses.

Mrs. Powell’s last major point of discussion during the interview was the numerous Brady violations by prosecutors.  A Brady violation is a constitutional violation by a prosecutor who has a legal, ethical and Constitutional obligation to provide to the defense any evidence that is favorable to the defense, mitigates the punishment against the defendant or impeaches or undermines the credibility of the government’s witnesses.  Mrs. Powell says the government has been hiding evidence and Federal prosecutors have been committing a lot of Brady violations for the last 10-15 years.

It is very fortunate that Dawn was able to interview Mrs. Powell about the ethical issues happening at the DOJ.  Sidney Powell’s book “License to Lie” is available on Amazon, and at www.Licensedtolie.com.  It’s got the links for Amazon, Barnes and Noble, all the book outlets that people can order the book from.  It’s also on Kindle and Nook, and all the eBook websites.

The Myth of the Middle Class

Is the middle class now just a myth?

Dawn Bennett, host of the nationally-syndicated radio talk show, “Financial Myth Busting with Dawn Bennett,” recently spoke with Wayne Allen Root, author of “The Murder of the Middle Class: How to Save Yourself from the Criminal Conspiracy of the Century” to answer exactly this question. Root’s new book points out that though many in power may hold firm to the belief that a strong, American middle class has successfully bounced back from the country’s 2008 financial crisis, the reality is that our middle class is still very much struggling. In fact, its stability and voice in society are perhaps the most vulnerable they’ve been in the past century. The middle class continues to face a host of challenges, from job loss to increased regulations to higher taxes, while decreasing median incomes have left middle-class Americans will less purchasing power and leverage for upward mobility than ever before.

Why has the middle class struggled so much in recent years?

This is a question that continues to plague those of the middle class, as they watch their homes be foreclosed upon and their husbands or wives forced into early retirement. The answer, according to Root in his discussion with Dawn, doesn’t just stem from the financial crisis of 2008, it’s perhaps more deeply rooted in the political decisions made in recent years, decisions that even encompass policies concerning national security. The President’s arguably weak approach to border security and mild stance on alarming threats to national health threats, like Ebola, are viewed by Root as weakening the confidence of the American people in such a way as to not only affect the country’s morale, but negatively impact the business that so many middle-class Americans depend upon. According to Root, an economy that will truly help the middle class regain its prominence is one that benefits from a protected border and firm security policies that will allow the economy to flourish.

Root and Bennett’s conversation also touched upon the fact that both Root and President Obama graduated from Columbia University in the same year. Root draws connections between the popular political theories running rampant on campus during his time there, and the state of the country under the President. According to Root, one of the most popular political philosophies at Columbia during this era was the idea that government attains and sustains power through crises. Essentially, this idea purported that the more turmoil present in a nation, the more reason people would have to support its government. Given the unprecedented debt, immigration, security and entitlement crises that have played out under the Obama administration, Root states that he does wonder about the influence this philosophy had on the President—though he does stop short of insinuating that President Obama is purposefully inciting crises. “It’s either that, or incompetence,” Root stated.

Root adds that it isn’t just the President who’s had a hand in undermining the financial stability of the middle class in recent years. The Federal Reserve, unions, lobbyists, lawyers and even the judicial system have all made decisions that work against supporting a thriving middle class; the overall de-emphasis on capitalism and increase in government regulation in general is one of the major reasons the middle class continues to struggle.

So how can the middle class reclaim its voice?

Rather than simply waiting for the Obama Administration to take leave of office, or hoping that things will turn around, Root advises that middle-class Americans take their financial success into their own hands today. This can be accomplished by investing more money into a personal gold standard and investing less in the stock market, as well as seeking ways to establish an independent income via a personal business. Root warns against the vulnerabilities of working for a business or large corporation, and instead applauds the practicality of adopting a self-reliant approach to not only personal finance, but education. Root states that given the deplorable state of many public schools with inadequate funding and high percentages of students who drop-out, private schools and home schooling should be viewed as more practical, beneficial alternatives for parents and their children seeking quality education.

In all, both Bennett and Root agree that while the middle class may not be obsolete, the notion that it exists as a successful sector of the American public is most certainly a myth. Given that the government lies at the root of the middle class’s limitations, the middle class will need to regain their financial stability through initiatives that prioritize independence and self-reliance.

 

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

For more information, call 866-286-2268 or visit http://www.bennettgroupfinancial.com

Securities offered through Western International Securities Inc. (WIS), member FINRA/SIPC. BGFS and WIS are separate and unaffiliated entities.

About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett or dbennett@bennettgroupfinancial.com