WunderBlog Archive » moonlightcowboy's WunderBlog

Category 6 has moved! See the latest from Dr. Jeff Masters and Bob Henson here.

Waked up this morning?

By: moonlightcowboy, 4:41 PM GMT on August 20, 2009

...You woke up this morning the world turned upside down,
Thing's ain't been the same since the Blues walked into town.


Bankers watch as Sweden goes negative

For a world first, the announcement came with remarkably little fanfare. But..., the Swedish Riksbank entered uncharted territory when it became the world’s first central bank to introduce negative interest rates on bank deposits.




COMING TO THE INFOWAR OCTOBER 21st, 2009
Here is a first glimpse of Alex Jones most powerful film yet, to be titled Fall of the Republic: The Presidency of Barack Obama. The globalists want the Republic to fall, and they are trying to use their newest, and slickest ever puppet to destroy the last vestiges of Americas freedom, Constitution and economy, all while helping the bankers loot the country clean. But this film shows how we can turn it around, and restore all that was good and right in our nation.






...20(0) years now...where'd they go? 20(0) years, I don't know. I sit and I wonder sometimes where they've gone!.....and the moon comes calling in a ghostly white...and I recall!



...sure does seemed to have passed so very quickly! Don't Blink!



"Social Security Could Face Default Within Two Years"

Inquiring minds are reading the details of an interview in the Tuscaloosa News with Congressman Spencer Bachus. Please consider Bachus discusses Social Security, health care.
“Social Security could face default within two years,” U.S. Rep. Spencer Bachus predicted here Tuesday. “The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression. What this recession has done to Social Security is pretty alarming."

“We’ve known for 15 years that we were going to have to make adjustment to Social Security, but we still through that was seven or eight years down the road,” he said. “But if things don’t improve very quickly, we’re going to be dealing with that problem before we know it.”

“We could raise the retirement age, or in the worst case, cut back on some benefits,” he said. “But that is something we are just now beginning to get a handle on.”
By the way, and as noted in Federal Tax Revenues Suffer Biggest Drop Since Great Depression, there is no Social Security fund and there is no trust either.

All that exists of Social Security is a bunch of IOUs and unpaid promises
that most believe cannot possibly be met.


...yeah, buddy! Let's borrow trillions more for some more government programs we can't fund, much less manage!



September 12 will be a new day of reckoning in America! A day when responsibilty and real representation of the people will once again be heard! On that day, we officially begin taking this country back!

HIGHLY RECOMMENDED READING: Sebastionjer's blog - "Life Is Not A Theory!", and "No Debate" and GetReal's blog - "Obama Healthcare Truth"

U.S. may need another $250,000,000,000 stimulus - Roubini
"It might be in the $200-$250 billion range -- not too small, not too big," he added. But if the next stimulus is too large, Roubini warned, financial markets would start to get worried about U.S. fiscal sustainability, with "severe" negative consequences for bond markets.

Unemployment nears 21 percent
Junk message in a bottle?
Please help DEFEAT CAP & TRADE in the US Senate here!



BLOG RULES: Simple - Keep it absolutely civil towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, power-lustful politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here! Informational statements in this blog by me are generally backed by valid and usually corroberating links. Newcomers are welcome to this blog but are scrutinized more heavily with their conjecture and perspective until I discern the nature of their posting habits. Regulars have more leeway even with large and differing opinions, provided their posts are not made with any personal attack or such innuendo. Otherwise, those who have not proven themselves to me (and that's all that matters) may be considered pot-stirrers, trolls or ban circumventors and are subject to being banned without warning. The ban may be relieved at anytime at my discretion pending review of the blogger's posting history and perspective in other blogs - should I see them. This is an adult blog for the maturely vested, not a juvenile hall or playground. Adults who act like young, irresponsible children will be asked to leave or be banned.

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The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.

Reader Comments

Hey MLC - nice to see your nice, new clean blog.
Let's see if I can dirty it up a bit. ;)

Politics as usual...

Link
That's bad, says Diane Swonk chief economist at Mesirow Financial. "We need to rewrite the rules of the game. The problem is until we know what the rules of the game are nobody wants to play."



LINK


We can not borrow ourselves out of debt! PERIOD! Eventually, accounts have to be righted! Our whole philosophy is based on "pay later" but let's keep on borrowing in the meantime! We are not looking at reality!
Hey MLC
That is one heck of a disclaimer, almost afraid to post anything further than a greeting.
I will however take the risk of being perceived as a pot stirrer with this post, a mixture of fact, theory, and opinion. The topic may have been addressed already, but if so I missed it, and you can just tell me that it's been beaten into the ground and I'll shut up.

BarockStar's disasterous Plan: Cash For Clunkers.
Out of curiosity over the hype, and too much free time one afternoon, I went to a local car dealership, one of those "Mega Dealers", Toyota, Dodge Chrysler, Chevy, Pontiac, GMC Hyundai Kia Daewoo Jeep guys. The lot was darned near empty, lots of trucks, and used cars, hot rods, but the Cash For Clunkers (C4C) program did just what it was expected to do and started a mad rush on new cars.
I don't know how well known it is, but the old cars are destroyed oil and coolant (anti-freeze) are drained, the oil pan is filled with a compund called liquid glass, (exactly what it sounds like) and the engine is run with a brick on the accelerator until it either blows from strain, seizes from lack of lubrication, or overheats and cracks, the body is recycled, the engine is stripped of salvageable parts and the rest is recycled as well.
Given the extreme lows in car sales over the past several months, inventories were at lows, despite the anticipation of the C4C. You would be hard pressed to get a vehicle at this point, unless you are not particular and just settle for whatever is left. Of course, in typical short-sighted dollar signs in our eyes fashion, the auto makers are cranking up production, bringing people who are laid off back to work. Of course this will just be more disasterous than any other move they've made so far to save the auto industry, because when the program expires August 31, those cars will not have even hit the dealerships yet, and there will once again be a glut of inventory, more bailouts, people going back on unemployment after having been off just long enough to have to start a new claim. When these people lose their shiny new cars to the repo man because this amazing C4C may just turn out to be one of the last nail in our economy's coffin, there won't be as many used cars available for them to fall back into, of course the reduction in used car inventory is just going to raise the value of the one's people have kept, and the price of parts to maintain them as therre won't be such an abundance of used parts available.
So throwing money at the problem didn't fix it, more money didn't fix it, tricking the American people to throw their own money at the problem is facing imminent failure, so, what's the next move?
As usual I took too long writing and see that another topic is already started, but dangit I worked hard on this rant so I'm posting anyway!
"unemployment nears 21 percent"????

OMG!!!!!!!!!!!!!!!!!
5. MidWestChaser
Excellent rant!
Thank you, thank you very much.
(Yes I was doing the Elvis lip curl thing as I typed that)
Folks in Washington and Hollywood are shakin in their shoes, LoL

some-ubs-clients-reportedly-to-face-us-charges-2009-08-19

Unemployment numbers were not good today also ! Not at all.
Now, this is interesting!
--------------------------
Eight months after the federal government stepped in to bail out U.S. auto giants, the beleaguered companies are turning the tables and helping the government bail out itself.

Major auto manufacturers have stepped up to guarantee their dealers' "Cash for Clunkers" transactions, following complaints that thousands of dealer claims have been delayed or rejected by the federal government.

General Motors announced Thursday that it will immediately start providing "cash advances" to dealers equivalent to the rebates that are being processed, and will do so for the duration of the program.

"We want to do all we can to provide customers with timely new vehicle deliveries and dealers the liquidity they need to run their businesses. This will continue the sales momentum of our new fuel-efficient vehicles such as the Chevrolet Cobalt, Equinox and Buick Enclave," said Mark LaNeve, vice president of U.S. sales, reporting that GM's sales are up thanks to the program.

A White House spokesman said Toyota and others have also stepped up to guarantee the rebates so that dealers can continue the program.

WTF...I bet the French are even laughing at us....
Quoting MidWestChaser:
Hey MLC
That is one heck of a disclaimer, almost afraid to post anything further than a greeting.
I will however take the risk of being perceived as a pot stirrer with this post, a mixture of fact, theory, and opinion. The topic may have been addressed already, but if so I missed it, and you can just tell me that it's been beaten into the ground and I'll shut up.

BarockStar's disasterous Plan: Cash For Clunkers.
Out of curiosity over the hype, and too much free time one afternoon, I went to a local car dealership, one of those "Mega Dealers", Toyota, Dodge Chrysler, Chevy, Pontiac, GMC Hyundai Kia Daewoo Jeep guys. The lot was darned near empty, lots of trucks, and used cars, hot rods, but the Cash For Clunkers (C4C) program did just what it was expected to do and started a mad rush on new cars.
I don't know how well known it is, but the old cars are destroyed oil and coolant (anti-freeze) are drained, the oil pan is filled with a compund called liquid glass, (exactly what it sounds like) and the engine is run with a brick on the accelerator until it either blows from strain, seizes from lack of lubrication, or overheats and cracks, the body is recycled, the engine is stripped of salvageable parts and the rest is recycled as well.
Given the extreme lows in car sales over the past several months, inventories were at lows, despite the anticipation of the C4C. You would be hard pressed to get a vehicle at this point, unless you are not particular and just settle for whatever is left. Of course, in typical short-sighted dollar signs in our eyes fashion, the auto makers are cranking up production, bringing people who are laid off back to work. Of course this will just be more disasterous than any other move they've made so far to save the auto industry, because when the program expires August 31, those cars will not have even hit the dealerships yet, and there will once again be a glut of inventory, more bailouts, people going back on unemployment after having been off just long enough to have to start a new claim. When these people lose their shiny new cars to the repo man because this amazing C4C may just turn out to be one of the last nail in our economy's coffin, there won't be as many used cars available for them to fall back into, of course the reduction in used car inventory is just going to raise the value of the one's people have kept, and the price of parts to maintain them as therre won't be such an abundance of used parts available.
So throwing money at the problem didn't fix it, more money didn't fix it, tricking the American people to throw their own money at the problem is facing imminent failure, so, what's the next move?
As usual I took too long writing and see that another topic is already started, but dangit I worked hard on this rant so I'm posting anyway!



Brilliant! Thank you!
Quoting conchygirl:
Now, this is interesting!
--------------------------
Eight months after the federal government stepped in to bail out U.S. auto giants, the beleaguered companies are turning the tables and helping the government bail out itself.

Major auto manufacturers have stepped up to guarantee their dealers' "Cash for Clunkers" transactions, following complaints that thousands of dealer claims have been delayed or rejected by the federal government.

General Motors announced Thursday that it will immediately start providing "cash advances" to dealers equivalent to the rebates that are being processed, and will do so for the duration of the program.

"We want to do all we can to provide customers with timely new vehicle deliveries and dealers the liquidity they need to run their businesses. This will continue the sales momentum of our new fuel-efficient vehicles such as the Chevrolet Cobalt, Equinox and Buick Enclave," said Mark LaNeve, vice president of U.S. sales, reporting that GM's sales are up thanks to the program.

A White House spokesman said Toyota and others have also stepped up to guarantee the rebates so that dealers can continue the program.



Pathetic program anyways; however, as I have said many times before - government is quick to legislate, slow as molassess in the winter time to implement.

HC reform? LMAO, by the time they get through bureaucratting whatever dayumed stupid plan they come up with, many folks will be long gone already! That's fact!
Quoting homegirl:
Let's see if I can dirty it up a bit. ;)

Politics as usual...

Link


...from the story:

I don't have a smoking gun, but I do have the good sense to recognize when something doesn't pass the smell test.


If it smells like an excrementing duck; well, it's probably an excrementing PIG!
Quoting MidWestChaser:
Hey MLC
That is one heck of a disclaimer, almost afraid to post anything further than a greeting.
I will however take the risk of being perceived as a pot stirrer with this post, a mixture of fact, theory, and opinion.


As long as everyone understands the rules up front it's all good. I wouldn't come to your house actin' a fool and I don't appreciate anyone doing that here. Enjoyed your post. Thanks.
Quoting moonlightcowboy:


...from the story:

I don't have a smoking gun, but I do have the good sense to recognize when something doesn't pass the smell test.


If it smells like an excrementing duck; well, it's probably an excrementing PIG!


This is chicago style politics at its best. The SEC, FBI etc. need to look into this....yea right....I am only kidding myself....UGH!!!
It's not global warming, when you just move it
to another country.


Examiner Bio Scandal—Obama to invest $2 Billion plus
to drill for oil in Brazil!
Political payoff to Soros


The Wall Street Journal reported this week the Obama administration
will invest $2 billion (or more) in drilling off the shores of Brazil,
of all places.
The same Dem-wits who will do anything to keep us from drilling off our own shores
are now investing $2 billion in a Brazilian oil company?


The question is why?
It’s a POLITICAL PAYOFF TO GEORGE SOROS is why.
The liberal rabble-rouser has 5.8 million of the company’s U.S.-traded preferred shares.
Once again mainstream media has turned a blind eye to newest of Obama scandals.

The Loan Conservative says it all;
"Even without the Soros connection this should cause outrage on both sides of the aisle.
Obama’s letting down his green supporters on the left by investing in off-shore oil drilling,
no matter where that drilling takes place. And the right should be outraged
because he refuses to invest in drilling here at home – or allow private companies to do so."

Obama is selling out America and this situation alone should be considered treason
and at bare minimum, insider trading!

Link
Soros Oil and my money.
Thanks HG and all for posting this I was looking at it and then saw your posts.
Cant we do something about this besides the great effort of informing people?
Cant someone do something about this?
Can we request investigations from our reps?
This is overt insanity.
Quoting spathy:
Soros Oil and my money.
Thanks HG and all for posting this I was looking at it and then saw your posts.
Cant we do something about this besides the great effort of informing people?
Cant someone do something about this?
Can we request investigations from our reps?
This is overt insanity.


Best I can figure we can do is vote for whoever is not the incumbent - I fail to see how even an idiot could screw things up worse than all these folks.
Quoting moonlightcowboy:


Best I can figure we can do is vote for whoever is not the incumbent - I fail to see how even an idiot could screw things up worse than all these folks.



We might actually get lucky, not voting for the incumbents, and elect a few folks that maybe, just maybe, might have a little "common" sense. I think it's worth a try!
Four Reasons Bernanke Will Fail


1. Changing Social Attitudes About Debt (People willing to walk away from homes, save more and spend less)

2. Commercial Real Estate Crash Underway

3. Unemployment Soaring as Private Sector Jobs Contract

4. Global wage arbitrage

Final analysis will show that Bernanke can change interest rates but not attitudes, and attitudes are far more important. Indeed, changes in attitudes will render all of Bernanke's academic theories about the Great Depression meaningless.

Greenspan had the wind of consumers' willingness and ability to go deeper in debt at his back. Bernanke has the wind of boomers fearing retirement in the midst of falling home prices and impaired bank balance sheets blowing stiffly in his face. There is no cure for what ails us other than time and price. And with the aforementioned attitude changes, the biggest, most reckless, global credit expansion experiment the world has ever seen is coming to an end. Central banks are powerless to do anything about it.
Quoting mobal:


This is chicago style politics at its best. The SEC, FBI etc. need to look into this....yea right....I am only kidding myself....UGH!!!


Mobal, you're such a kidder, you! ;)
MLC one has got to reason voting for any one but. Would have better results than the current croud of arrogant spendaholics!
Quoting latitude25:
Obama is selling out America and this situation alone should be considered treason
and at bare minimum, insider trading!

Link



...W I S D O M!
Quoting spathy:
MLC one has got to reason voting for any one but. Would have better results than the current croud of arrogant spendaholics!


Spathy, I'm being very serious. I'm not voting for incumbents. I've respect for some, but lets not polish the old furniture here - they are all part of the corrupt system that has led us where we are today. It's time to clear the slate!

Does that mean that more corrupt ones wont crank up to? Nope, it doesn't; but, I can't see the difference between awful and awful - that's what we've got. If the Republican is the incumbent, looks like I'll be voting Democrat and vice versa. It's just time for these clowns to go! I can't stand to hear one of them speak - not one!
they are all part of the corrupt system that has led us where we are today. It's time to clear the slate

term limits anyone?
Quoting tkeith:
they are all part of the corrupt system that has led us where we are today. It's time to clear the slate

term limits anyone?


Hey, TK. Of course, these clowns will never legislate term limits - ever. I'm for it for sure. Yet, there are many arguements to leave it as is - but, leaving it where it is, is why we're here and where we'll keep headed.

We can not borrow ourselved out of debt. These folks don't get it yet. And, I fail to see how anyone other than an incumbent could do any worse, really! We may even get lucky and get someone with common sense, someone with some integrity.

If we can't do it at the ballot box - and, that is more difficult without significant campaign finance reform - that ain't happening either, not really.

Ultimately, it will probably require the "initiative and referendum" process!
Quoting moonlightcowboy:


Hey, TK. Of course, these clowns will never legislate term limits - ever. I'm for it for sure. Yet, there are many arguements to leave it as is - but, leaving it where it is, is why we're here and where we'll keep headed.

We can not borrow ourselved out of debt. These folks don't get it yet. And, I fail to see how anyone other than an incumbent could do any worse, really! We may even get lucky and get someone with common sense, someone with some integrity.
At one point in my life about 20 years ago, I borrowed myself "into" debt...

spent about 10 of those twenty getting out of debt...and borrowing NO money.

Rice and beans, beans and rice...
MLC I am with you.
I hate to use the phrase clean the house etc.
Even Connie Mack JR is somewhat disappointing to me.
At least he could have had a staffer respond to my questions.
And he should be more vocal.
Why dont I hear about him screaming from the proverbial hill where things are going wrong. And this is what we should be doing.
30. Gonna be more rice and beans for many folks, TK! Many folks.

...cept, I like rice and beans! ;) ...and a lil sausage again, too!
Quoting spathy:
Why dont I hear about him screaming from the proverbial hill where things are going wrong. And this is what we should be doing.


And, that's EXACTLY the point, spathy! They'll give "lip service" and may vote against measures, etc; but, by and large it's just lip service as they are all playing the game. They play it all so very cleverly too! So, as to make you and I think they are pitted against each other - when, in fact, these clowns are pretty much all on the same team!
Quoting moonlightcowboy:
30. Gonna be more rice and beans for many folks, TK! Many folks.

...cept, I like rice and beans! ;) ...and a lil sausage again, too!
LOL...it aint as bad as some portray it to be...

not all remedies are painful and taste bad...

I'm an optimist..eat beans and rice for a few years , and just think how good that prime rib will taste when you dont have pull out plastic to pay for it.

"i'm not too good at metaphors"...lol
Quoting tkeith:
LOL...it aint as bad as some portray it to be...

not all remedies are painful and taste bad...

I'm an optimist..eat beans and rice for a few years , and just think how good that prime rib will taste when you dont have pull out plastic to pay for it.

"i'm not too good at metaphors"...lol


Yup! Spot-on!
Citizens want to know if SC gov can focus on job

GREENVILLE, S.C. – Even South Carolina Gov. Mark Sanford's supporters are asking if he can remain focused on state business during his final 16 months in office.




....geeeesh! Resign already! Go get your life straightened and then maybe give public service another shot.
Photobucket

..."wee "weed up!" ;) Yeah, buddy!
Rep. Bachus: "Social Security Could Face Default Within Two Years"

Inquiring minds are reading the details of an interview in the Tuscaloosa News with Congressman Spencer Bachus. Please consider Bachus discusses Social Security, health care.
“Social Security could face default within two years,” U.S. Rep. Spencer Bachus predicted here Tuesday. “The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression. What this recession has done to Social Security is pretty alarming."

“We’ve known for 15 years that we were going to have to make adjustment to Social Security, but we still through that was seven or eight years down the road,” he said. “But if things don’t improve very quickly, we’re going to be dealing with that problem before we know it.”

“We could raise the retirement age, or in the worst case, cut back on some benefits,” he said. “But that is something we are just now beginning to get a handle on.”
By the way, and as noted in Federal Tax Revenues Suffer Biggest Drop Since Great Depression, there is no Social Security fund and there is no trust either.

All that exists of Social Security is a bunch of IOUs and unpaid promises
that most believe cannot possibly be met.





...yeah, buddy! Let's borrow trillions more for some more government programs we can't fund, much less manage! Government S U P E R -freaks!
What the heck does "wee weed up" mean. Is Obama losing his head or what?

Can someone explain the term "Wee weed up"?

Guess we can just chalk it up to yet another "prez'O promter" typo......LMAO
"Wee Weed up" maybe he's finally being honest regarding his opinion toward all of us, "P*ss on 'em"
Shocking news story on the radio as I was coming in to work this morning. Cash For Clunkers is over on Moonday, plug has been pulled.
Another story, Ford and Chrysler announces they are increasing their production to nearly double the increase announced earlier this week due to the overwhelming success of C4C.
Well, I would say that with the right seasonings and ALOT of boiling you could probably cook a car down to a consumable point, but fret not, you won't have to eat the cars to feed your family, surely Barockstar will see fit to give you MORE taxpayer money.
Quoting MidWestChaser:
Shocking news story on the radio as I was coming in to work this morning. Cash For Clunkers is over on Moonday, plug has been pulled.
Another story, Ford and Chrysler announces they are increasing their production to nearly double the increase announced earlier this week due to the overwhelming success of C4C.
Well, I would say that with the right seasonings and ALOT of boiling you could probably cook a car down to a consumable point, but fret not, you won't have to eat the cars to feed your family, surely Barockstar will see fit to give you MORE taxpayer money.
I heard that this morning too. Imagine that.

On another topic, sorry healthcare, he is now reaching out to the evangelicals after NOT allowing a National Day of Prayer. He is a most confused Prez.
Quoting conchygirl:ter NOT allowing a National Day of Prayer. He is a most confused Prez.


...naaahhh, CG! He's a lying, manipulating, pathological narcissist SOB that could give a crap any Americans - he just wants to be in the spot light all the time. This guy doesn't have a dayumed clue how to govern - and, when you consider the Soros favor and Axle's lobby money - it's just the SOS Washington BS with a different and more pungent smell!
Quoting moonlightcowboy:


...naaahhh, CG! He's a lying, manipulating, pathological narcissist SOB that could give a crap any Americans - he just wants to be in the spot light all the time. This guy doesn't have a dayumed clue how to govern - and, when you consider the Soros favor and Axle's lobby money - it's just the SOS Washington BS with a different and more pungent smell!
100% Agree with your take on TM....if he gets re-elected, we deserve what we get but sure hoping folks are wising up and by his poll #'s, I believe they are seeing the light.


And, it appears the polar trough is going to be a bit more tilted. According to this sea level pressure chart 1000-500 mb thickness, the B High still extends west into FL with a pressure of 1016 mb.

With a weaker Bill and a lingering high, there is s good possibility we could see the track continue to creep a bit more westerly.
Quoting tkeith:
LOL...it aint as bad as some portray it to be...

not all remedies are painful and taste bad...

I'm an optimist..eat beans and rice for a few years , and just think how good that prime rib will taste when you dont have pull out plastic to pay for it.

"i'm not too good at metaphors"...lol


Not as long as there is Deer and wild turkey in them thar woods...and fish in the lake...Hahahaha
46. moonlightcowboy
Well, the westcasters may get their way. Good weather info MLC.

Back to work, I go!
Good morning ALL! Just found this, haven't checked it out fully. Anyone else seen it?

GOOOH

Get Out Of Our House or GOOOH, pronounced "Go". A nonpartisan plan to replace the career politicians, all 435 of them.
Quoting homegirl:
Good morning ALL! Just found this, haven't checked it out fully. Anyone else seen it?

GOOOH

Get Out Of Our House or GOOOH, pronounced "Go". A nonpartisan plan to replace the career politicians, all 435 of them.



Awesome, can't wait to read it!

...oh, pardon my early Friday morning rudeness - GOOD MORNING, all! Happy TGIF!
There are so many groups emerging, some just wanting to make noise, some pretty radical, I could go on, but the list is so long and it's Friday so I just don't feel like it!
Party politics just doesn't work, maybe it did it one time, but that time is long gone. I want leadership that will represent me and my interests, as I think the majority of America does!
Quoting MidWestChaser:
There are so many groups emerging, some just wanting to make noise, some pretty radical, I could go on, but the list is so long and it's Friday so I just don't feel like it!
Party politics just doesn't work, maybe it did it one time, but that time is long gone. I want leadership that will represent me and my interests, as I think the majority of America does!


EXACTLY!
hey mlc....

:)
California unemployment rate climbs to 11.9 pct.

SAN FRANCISCO – California's unemployment rate climbed to 11.9 percent in July, the highest number in modern record-keeping. That's an increase from 11.6 percent in June and considerably higher than the jobless rate of 7.3 percent a year ago.

The U.S. Department of Labor also reported Friday that 87,000 Californians lost jobs last month. The state continued to see declines in the construction, manufacturing, transportation, trade, finance, education and health and government sectors. The trade, transportation and utilities sectors posted the largest drop, losing 15,900 jobs.

California is among 15 states and the District of Columbia that have jobless rates above 10 percent.



....hhhhmmm! Yup, green chutes for sure!
Smart Dog!
Hey, Amy and Mobal! TGIF to yas!

Mobal, awesome dog! ;) LMAO!
Darn Mobal - can't see the dog until I get home.
mlc...that is depressing news for Calif.....
- CG, you don't wanna miss that dog! ;)

- Amy, yup, I know. It will get worse.
MLC, whats the latest on U6?
Quoting mobal:
MLC, whats the latest on U6?


I haven't looked and I will, probably later this evening maybe; but, I can assure you that it's not good.
In the Incredible Shrinking Boomer Economy I noted a harsh reality quote of Bernanke:

"It takes GDP growth of about 2.5 percent to keep the jobless rate constant. But the Fed expects growth of only about 1 percent in the last six months of the year. So that's not enough to bring down the unemployment rate."

Pray tell what happens if GDP can't exceed 2.5% for a couple of years? What about a decade (or on and off for a decade)?

If you have come to the conclusion that we are going to have structurally high unemployment for a decade, you have come to the right conclusion. Ask yourself: Is that what the stock market is priced for?
An alternative measurement of unemployment that includes discouraged workers and workers forced to work just part-time fell to 16.3% in July from 16.5% in June. It was the first time in the recession that the so-called U6 unemployment rate had fallen.


This is only an extension of the erroneous numbers that were put out in July. It is at 16.5 percent or higher. And, when you take the other factors that I have blogged about and satisfactoraly validated, of course, it's even higher than that. Nothing particularly positive is happening in the way of new jobs, except in the government sector.
"Nothing particular positive is happening in the way of new jobs,"

I still want to know what a "jobless recovery" is.

Is that like phone sex?
Quoting latitude25:
"Nothing particular positive is happening in the way of new jobs,"

I still want to know what a "jobless recovery" is.

Is that like phone sex?




LMAO, no kidding!
Here it comes, tech dependency, but this treatment is not yet covered by insurance. LoL

Internet-addict-rehab-center-opens
"Internet addict rehab".....man, I can think of a ton of people who need that stimulus plan!!!!!

;)
Quoting NRAamy:
"Internet addict rehab".....man, I can think of a ton of people who need that stimulus plan!!!!!

;)


;)
....this below describes some of it fairly accurately. LINK

In addition the interest rate available on a 1 year CD has gone down from 5% to 1%.

What this does to the "spread" and thus private consumer activity is tremendous. Revolving credit is instantly repriced on the outstanding balance at the new interest rate, as are the CDs when they roll over, typically after a year.

For the "typical Grandmother" who was making 5% on her CD and paying 9.9% on her plastic, the spread was 4.9%. That is, 4.9% was the "real cost of credit" to her annualized.

Reasonable.

Now the credit card is 18.9% and her CD earns 1%. The spread is now 17.9%, or nearly 18%, an increase of 12.8%.

For the "subprime" borrower its awful as well. He has no savings, so the CD rate means nothing. But his credit card went from 20% to 36% due to missing one payment. He's seen a spread increase of sixteen percent.

Why does this matter?

It matters tremendously!

Remember, from the above there is $2.5 trillion outstanding in consumer credit. An increase of just ten percent in the spread cost for money means that $250 billion dollars each and every year does not get spent on consumption (and employment of those who make what was consumed), it instead goes to the banks to paper over their fraudulently-marked paper!

How big of a deal is this?

Our economy (at present) is around $13 trillion dollars (was closer to $14, but heh, 'tis a recession, right?)

This is thus a real and permanent 1.92% decrease in private-activity GDP each and every year and it will NEVER GO AWAY so long as "The Bezzle" mandates that the spread be used to cover up the fraudulent accounting at the banks and other financial institutions!
((( MLC ))) Just stopping by for a quick hi.....LOVE the moon pic! BEAUTIFUL!!!
Quoting BajaALemt:
((( MLC ))) Just stopping by for a quick hi.....LOVE the moon pic! BEAUTIFUL!!!


Hey, (((DIGGER)))! Hope things are all good with you!
E X C E L L E N T, Mobal - thanks.

Obama is a L I A R! Period.
and I will get banned for this...but you MLC can Kiss my rosy RED ass!!
Quoting auburn:
and I will get banned for this...but you MLC can Kiss my rosy RED ass!!


...whatever, Aub! LMAO. Keep drinkin' that kool-aid!

send a check to help me save my wife man...ya got it in ya???
I'm gonna say this "one" time, Aub. You can take it to email or call me.
Quoting moonlightcowboy:
I'm gonna say this "one" time, Aub. You can take it to email or call me.

Not wasting my time...It hit home man!!!a woman that work 10+hrs a day and your gonna say she is lazy???...that she dont deserve to live cause you dont like a BLACK prez...thats your problem...I am gonna try and save my wife...Bless you and all yours!
Let me tell ya something, podna! You don't know me, capiche'? And, you come in my blog cussing me because I don't like the state of the country and where it's going? You've got some nerve, that's for sure.

I don't give a rat's dayum what color his skin is. I care about his policy or lack of it. I care that we have a liar trying to run the country; and, I've repeatedly said that he's not in that boat by himself, nor is this anything new.

I understand you've got problems, Aub. Hell, I've got problems. We've all got problems. I don't know too many that don't have a problem of some kind.

But, I tell you what, the big difference here is, is that I still have integrity and respect - something you for whatever reason, have forgotten.

I asked you kindly to take it to email or call me and you continued. I've relieved a previous ban and tried to continue to be respectful towards you. I have not berated you once, not one time. Yet, you continue to berate me!
Quoting auburn:

Not wasting my time...It hit home man!!!a woman that work 10+hrs a day and your gonna say she is lazy???...that she dont deserve to live cause you dont like a BLACK prez...thats your problem...I am gonna try and save my wife...Bless you and all yours!


LOL, let's be clear here for anyone reading. I, MLC, have NEVER said:

1. that I didn't like Obama because he was black; and,
2. obviously, I would have never said anyone working 10 hours a day was "lazy."

I've thought an awful lot of Auburn up to now. And, I still think alot of him, but he is taking his anger out on me for reasons he does not understand, and for which I have not adversely effected. If anything, as far as debate in this country is concerned - no issues can be addressed to help anyone in any realm if there isn't some fiscal responsibility restored to this country. Eventually, on the path we are on, our country as mighty as we have known it, will continue to dissolve.

((PRAYERS)) up for Auburn, his wife and family and for understanding among all!
Hey MLC....sorry you had to deal with the drama tonight. I've been on your blog quite a bit and agree that you have never said some of the things that you were accused of tonight.

Have a good sleep and keep up the good work.
Quoting conchygirl:
Hey MLC....sorry you had to deal with the drama tonight. I've been on your blog quite a bit and agree that you have never said some of the things that you were accused of tonight.

Have a good sleep and keep up the good work.


Thank you, CG. I appreciate your comments and support. Have a good sleep.

I think I'm going to go watch some "Animal Planet" - probably some of my kin folks! ;)
Never thought I would see the day when Auburn throws out the race card.......geeez.

We live in a country based upon a democratic process.

We all have needs and desires as American's.

We make things happen as a county by vitue of process and our ability to voice opinion.

WE are free to do so.

Never forget who you are! No one can take that from you with out a fight!

Let's face it,,,, any health care change is a difficult one, and one that should be well thought out and solid in it's principles and viability. It is not something that can happen in a few weeks.

We are all on the same team folks !

Never forget that !

Good Lord

You know.
Some of these people that self-clasify themselves as minorities.

And what egos they have to go with it too.

It's not the color of your skin, it's not you orientation,
it's not because your short, tall, skinny, fat, from another country, bald, or whatever

I has nothing to do with any of that.
People don't like you because you're an AHOLE!
MLC ..I Apologize to you,There was no excuse for my post last night no matter what I have going on,I have received some nasty emails that pushed me to the limit...that in conjunction with some bad news on the home front...carry on with what you believe in!
Quoting auburn:
MLC ..I Apologize to you,There was no excuse for my post last night no matter what I have going on,I have received some nasty emails that pushed me to the limit...that in conjunction with some bad news on the home front...carry on with what you believe in!


Apology accepted, friend! Aub, I believe in all things good - you are good people and I know that. We all get side-tracked at one point or another and we say things we wish we hadn't - God knows I have.

Keep your chin up and let God work in your life. Too often we think of ourselves as pretty smart, that we can effect the outcome of everything...and, we can to some degree most of the time. I call it the "80/20 Rule" - in other words be pro-active 80 percent of the time, but 20 percent of the time, get out of the way and don't interfere with God's work - we just make things tougher on ourselves when we do. When I drop out of that 20 percent of thought, thinking that "I" am just the best thing since hot-buttered bread, and let God work - well, it's amazing to watch what happens. I've been enriched and blessed by it and I hope you are, too! :)

Hey, man, we've got a polar bear trough cold front over us now - like a sweet fall day. I hope you can get out and enjoy it some, friend.

I'm out to visit my youngest, lunch and visit awhile! Have a good one!
Good morning Cowboy and friends,

just stopping by to post a goodmorning to everyone, been a long time since I stopped by here.


Just a thought,
not sure someone has probably already said something..
but now that we have sold all these new cars to those people who turned in their clunkers....

what is going to happen when all these new "car loans" are not paid back and all these new cars are repo'd?

It appears we didn't learn our lessons when we put millions of folks in homes they could not afford, now we have lured them into buying vehicles some cannot afford.

HUMMM.. another crises in the making???

thoughts?????
Quoting seflagamma:
...another crises in the making???

thoughts?????



Hey, Gamms! We ain't short on crisis! Many here, many looming!
Thanks.. I know ..

so you don't for see that too many got a loan for news vehicles that they eventually will not be able to pay for?

Quoting seflagamma:
Thanks.. I know ..

so you don't for see that too many got a loan for news vehicles that they eventually will not be able to pay for?



Absolutely, Gamms. It's trouble. But, we've far more serious issues - this is just one of them. Look up in the header at the story about Social Security. Despite everything you see and hear about "green chutes" it is not like that - we're being fed a bunch of hoohie! We've got deep, serious troubles that are coming at us exponentially.
Oh, I don't even want to think about SS..
I've paid into SS for what 40 years now...
and in about 6 years I would like to get some "returns on my investment"
and I now wonder if anything will be there of "my investment"..

My Dad back in the 60's and 70's always told us kids that SS would NOT be there for us so we better try to save..
that it would be bankrupt before we got old enough to collect..
and my Dad is an old Southern Democrate...

Well, I was starting to think in the past 10 years that he may be wrong for me and my age group.. that it "should" last thru the first half of us baby boomers who are nearing retirement age..but then again.. maybe not.

but I've told my kids.. for sure you will never have SS, us Baby Boomers will use it up and then some....

will go read the article more carefully.
Okay, so, I can't remember...What exactly did Osbama do to mark the National Day of Prayer???


Link

Does he mark Hindu and Buddist Holy days??? I really don't know the answer...
Quoting moonlightcowboy:


Absolutely, Gamms. It's trouble. But, we've far more serious issues - this is just one of them. Look up in the header at the story about Social Security. Despite everything you see and hear about "green chutes" it is not like that - we're being fed a bunch of hoohie! We've got deep, serious troubles that are coming at us exponentially.


Don't forget the commercial real estate bubble hasn't popped yet. I'm much more concerned with that.
Quoting Sh0cK:


Don't forget the commercial real estate bubble hasn't popped yet. I'm much more concerned with that.


ShOck, yup, lots of things happening just below the surface - that's one reason I keep the shark at the bottome of the header - to remind me of things we don't see readily that are looming and dangerous.
It's Saturday, y'all! A pretty day here! I'm getting out in it and I challenge each of you to leave your puters and visit, spend some time with ones you love...DON'T BLINK!
I'm afraid I am at work.
Cannot get out and enjoy the day anyway.


If you notice on my "at home days & nights" you rarely see me on the blogs! LOL


maybe once a week for a few hours at most!
Seems to be only work days that I get "blog breaks" LOL
"spend some time with ones you love..."

I spend from Sunday night to Saturday morning with those bozos.....

...if I have to spend Sat and Sun with them,
someone's going to get hurt.


http://www.ibdeditorials.com/IBDArticles.aspx?id=335746399258116

Paying The Price For Illegal Care

By INVESTOR'S BUSINESS DAILY | Posted Friday, August 21, 2009 4:20 PM PT

Health Care: Democrats are right that uncompensated emergency care for the uninsured is driving up costs. What they don't say is it's illegal immigrants who are bankrupting ERs, and the federal government is encouraging them.


Last decade, the Clinton administration added teeth to a little-known Health and Human Services Department regulation mandating that hospitals provide emergency treatment even to illegals.

Under the Emergency Medical Treatment and Active Labor Act, or EMTALA, hospitals can't even ask for a patient's immigration status or ability to pay prior to delivering treatment. They also can't keep such uninsured patients waiting, even if their problem isn't an emergency. Nor can they discharge them until they're fully stabilized and have safe transportation.

More, hospitals must post EMTALA signs in Spanish and English. The law isn't limited to ERs. Hospitals must accept illegals at any facility on campus — including outpatient clinics and doctor's offices — located within 250 yards of the main buildings.

Hospitals end up treating uninsured illegals for the sniffles and other nonurgent care, and pass that exorbitant cost on to the insured, the Government Accountability Office has found. Resulting overcrowding leads to delays in "care for patients with true emergency needs."

This unfunded federal mandate has placed a heavy and unfair financial burden on more than 1,500 hospitals across the country, according to HHS data, costing billions in unpaid bills by some estimates.

Many eat losses and eventually go out of business like they're doing in droves in California, which has seen 85 hospital closures in the last decade. An additional 55 facilities have shut down ERs. The state ranks last in the country in access to emergency care and last in ERs per capita, making it woefully unprepared to respond to a major earthquake or terror attack.

Border hospitals are the hardest-hit. By law, they have to treat even illegals injured while crossing the border. Each year, hundreds of them pour into the ER at El Centro Regional Medical Center near San Diego with fractures sustained while climbing the fence or eluding border patrols in high-speed car chases. Others suffer from multiple organ failures from dehydration.

Many abuse the system with encouragement from groups like Maldef and La Raza, which have spread the word about EMTALA. In Texas, hospitals are flooded with walk-in mothers in labor showing up in the ER to have their anchor babies.

Some 80% of the births at Houston's Ben Taub General Hospital and Lyndon B. Johnson General Hospital are to illegal immigrants. In Fort Worth, it's about 70%.

At a recent town hall meeting, President Obama shot down tort reform because, as he argued, Texas has tort reform and one of its cities — McAllen — still has "the highest health care costs in the country."

McAllen also is one of the most heavily trafficked border areas in the country, a little fact Obama failed to mention. The border patrol nabs 75,000 illegals there a year. They're the ones caught; others flood McAllen hospitals.

Overutilization of ER services by illegals is crippling the area's major hospital system, including McAllen Medical Center and Edinburg Regional Medical Center. The South Texas Health System eats $140 million a year in free care, and 60%-70% of those unpaid costs are in the ER.

Some 40% of the babies born at McAllen Medical last year were to illegals. That's nearly 2,400 babies who were given instant citizenship. And their mothers instantly qualified for U.S. welfare. Many of them, McAllen Medical CEO Joe Riley says, were "mothers about to give birth that walk up to the hospital still wet from swimming across the river and in actual labor."

Actually, Miami boasts the highest medical costs in the country. McAllen is No. 2. Like McAllen, Miami hospitals are overrun by illegal Hispanic immigrants.

Thanks to EMTALA, one hospital near Miami was forced to eat $1.5 million in unreimbursed care for an illegal alien from Guatemala. After three years of treatment, Martin Memorial Medical Center paid $30,000 to charter a jet to take Luis Jimenez to a medical facility in his home country. His family in turn sued the hospital.

Any health care overhaul should start with rewriting EMTALA. No one wants to refuse emergency care to indigent Mexicans who truly need it. But when you consider that they wire an average of $300 a month in remittances back to Mexico, that money could go a long way toward purchasing medical insurance.

At a minimum, the government could impose a fee on remittances to Mexico, and use the revenues to offset costs that border hospitals incur for the care of illegal immigrants.
Quoting latitude25:
"spend some time with ones you love..."

I spend from Sunday night to Saturday morning with those bozos.....

...if I have to spend Sat and Sun with them,
someone's going to get hurt.


oh my goodness I am laughing big time!

that was funny!!!
sorry about the dup.. thought the first one didn't take! :o)
Your Tax Dollars to Sell
Obama's Health Care Plan


EXCLUSIVE: White House confirms that it used taxpayer dollars to hire private communications company to distribute mass e-mails — including unsolicited spamming to help sell Obama's health plan.

white-house-reveals-identity-firm-sent-unsolicited-e-mails-health-reform
This is a bit old, prior to the one in the blog, and the debt was under 11 trillion when this was made. Worth a peek. Ya gotta give him credit, if he does not believe in what he says, he is the best actor in the world !



This is even older, during the campain, but worth a look and provocative to say the least.

BTW, the debt was only 9 trillion when this was made. LoL



What the heck, one for the ditch if you will !



How do you feel about your America? I am very worried about mine, for very good reasons !
107. JuneB
Couldn't stop in without seeing how you are doing and saying hello....HELLOOOUUU there, MLC! Hope you are out there haveing a fabulous weekend! Just taking a break...back to work now! Later
Good morning!!

Dr. Doom is at it again, scaring the people with the possibility of a double-dip recession claim. (did someone else say something about a dead cat bounce???) So hard to discount Roubini now that he turned out to be correct about the severity of the economic bust and not just trying to scare people. (SIGH)

Link
Roubini should have a cabinet position.

...oh, and good morning, all! Just peeking to say hello. Gotta roll.
I love when people use spin to propogate their own idiocy, while claiming to not be the idiot others perceive them to be.
MLC, in the event that I get banned for my posting in bama's blog, I just want to say I enjoy your candid conversation and debating/discussing topics with all of you, and I will be abck whenever I am allowed.
Quoting homegirl:
I love when people use spin to propogate their own idiocy, while claiming to not be the idiot others perceive them to be.


If people only realized the true serious nature of our problems their perspective would be different.

Unfortunately, people perceive the government as an endless supply of money, a blank check book. I wonder sometimes if they've ever considered what happens when there is no SS check in the bank, no welfare check in the mailbox, etc.

That point is approaching - approaching faster than most are aware. And, the flip side of that is taxation - in every capacity.

Quoting MidWestChaser:
MLC, in the event that I get banned for my posting in bama's blog, I just want to say I enjoy your candid conversation and debating/discussing topics with all of you, and I will be abck whenever I am allowed.


You've been welcome here. Thank you for posting.
Well thank you, but I guess I was concerned for nothing, my post has simply been removed, as oddly all comments that disagreed with their opinions seem to have been.
Oh well, I guess I'll just stay where people have the intellect and maturity to discuss and debate things whether they agree or not. Sadly that is a habit of both parties, and I guess a natural reaction of most people, if something comes up that they disagree with they will do all they can to suppress and stifle it.
Quoting MidWestChaser:
Well thank you, but I guess I was concerned for nothing, my post has simply been removed, as oddly all comments that disagreed with their opinions seem to have been.
Oh well, I guess I'll just stay where people have the intellect and maturity to discuss and debate things whether they agree or not. Sadly that is a habit of both parties, and I guess a natural reaction of most people, if something comes up that they disagree with they will do all they can to suppress and stifle it.
That is why most of stay 'where we are wanted'....Guess they prefer to delete the truth---your post was gone before I saw it.
MWC, don't get fooled by the Obama worshipers. They have goo-goo eyes when they look at him. Everything this man is doing is failing, it's failing because it has no foundation to succeed. He's a pathetic, narcissist liar.

One cannot otherwise discern our frailty from being $12,000,000,000,000 in debt, a budget deficit of $2,000,000,000,000 alone with a growing budget deficit expected to reach $9,000,000,000,000. These are the simple, undeniable facts!

Those are staggering estimates. Mind-blowing, or should be! We cannot service the interest on the debt now - still, we're borrowing as much as fast as we can with a contracting economy, producing less and less tax revenue - ultimately, that forces more borrowing that we simply cannot repay. Taxes will go up. Services will have to be cut.

Anyone can paint "The Messiah" as pretty as they want - they live in a fantasy, make-believe world! It ain't happening! And, it ain't happening under the new, next administration and Congress either. We have serious issues on front of us. Issues that will require sacrifice - the American people are not accustomed to that. It's going to take a gargantuan effort on the part of many to right this ship!
LMAO, bama4obama! I didn't even bother reading - it immediately went to ban. I'm not interested in anything an Obama-worshiping moron would have to say.
Schiff for Senate? Another guy who recognized the economic crisis was coming and doesn't see a solid immediate recovery any time soon, in fact he's still very concerned about what's still wrong with the economy and the mistakes we're making in the recovery effort and what those mistakes will lead to...

Absolutely, HG.

Here's another one:

Can't see HG's post but the one you posted MLC is excellent. Can't understand why it seems so obvious to some and others just can't see it.
It may not be an exact quote but essentially my post was as follows:
"I think I have to go boil my eyeballs in bleach to cleanse them of the BS this blog has exposed them to.
I am neither conservative right, nor liberal left, I am an informed American who makes decisions based on facts from all sides of the story not just those that one party or the other wishes me to see.
It has been too long since this country has had honest effective leadership, both parties are infested and infected with lying self seeking RATS who abuse their position to forward their own agendas and desires.
The only difference in leadership for quite some time is some will promise not to screw you, then do it anyway and say "deal with it" while others promise not to screw you while they are so far up your backside that you can taste the fecal matter.
The latter is what I believe our current administration to be, but as long as you keep eating his candy coated lies you should be able to keep that taste down for a bit longer."
Crude, yes a bit, vulgar and or profane, I don't think so, unpleasant, sure, truth, YES YES YES!
(Before anyone prepares to crucify me, again I repeat, this may not be an exact quotem just the basic jist)
http://www.youtube.com/watch?v=L5ZWLe8uKXE&eurl=http%3A%2F%2Fpeterschiffblog%2Eblogspot%2Ecom%2F2009%2 F08%2Ffox%2Dbusiness%2Dinterview%2Daugust%2D20%2Ehtml&feature=player_embedded#t=16

Here's the page CG...cut and paste it. It's just Peter Schiff saying inflation could cause oil to go to $200/barrell! YIKES.
From an article today !

Quote

"And, when you examine the real numbers, the reality is beyond dire. There is a $56 trillion hole, and counting, in our nation's finances, not the $11 trillion national debt that is widely publicized and reported on the federal government's balance sheet"

Time for budgetary truth
Thanks for the link HG.

MWC - graphic but true.
Sorry for dragging your blog into a mud slinging match with another, I think I should step out for a bit, or take the mud slinging to my own blog.
Quoting MidWestChaser:
Sorry for dragging your blog into a mud slinging match with another, I think I should step out for a bit, or take the mud slinging to my own blog.


Thanks. I'm a big boy. I can handle any issues here. I'm not concerned with blabbering elsewhere.
The following video is about 19 minutes long but very much worth listening to in entirety, improving as it goes along. The video may take a while to load but it's well worth it.

Well, I think he's hit the nail on the head with the problems we're facing with deleveraging and economic theory not taking credit to debt ratios into account. I'm not sure I agree with his ideas for regulating, that we should've nationalized the banks instead of TARP (though he's right they deserved to fail) and I will try to take the time to see the other 3 parts of this series. Whew...
I can't watch the video until I get home....but, this was in our paper today (and it is a very liberal one as most seem to be):

TALLAHASSEE -- President Obama's job-approval rating has fallen below 50 percent in Florida, and slightly more voters disapprove of his performance in office than support it, as public protests escalate at well-publicized "town hall meetings" on national health care policy.

The survey said Obama's overall favorable rating in Florida was 51 percent, compared to 44 percent disapproval. And that's down from 62-32 percent approval in June.

That's the bottom line of a recent Quinnipiac University Poll released today.
I don't know how accurate this info is, but it was interesting, no matter who made it, or what it was used for :)

http://www1.alcatel-lucent.com/us/events/2009/2009SalesConference/2009SalesVideo.html

Did you know?

On another note :(
new-bank-failures-week-of-aug-24

Want to know how your bank is doing?

Check here for the star ratings. They can't hide it from these guys.

http://www.bauerfinancial.com/home.html

www.bauerfinancial.com
Yup, we're working on everything but jobs! Makes a lot of sense, huh!

Let's crank up another couple of government programs, borrow billions more and see just how bad we can screw things up!
Interesting read. Humm, right to rent?

Forbes article, Keeping Down With The Joneses
Quoting Ossqss:
Interesting read. Humm...


Citing 2007 data from the Federal Reserve, Tom Petruno of the Los Angeles Times recently noted that while the top 10% of earners have debt-to-disposable-income ratio of 116%, and the bottom 40% of earners have a ratio of 133, those in between--that is, middle-class households--have a ratio of 205%. This 50% slice of the population represents 46% of consumption, and it is precisely this group that will have to dramatically pare back its consumption to pay down its debt. This is a recipe for weak consumer demand for a decade or more, which means another decade of sluggish growth.


....interesting indeed! Sounds familiar though.

Harvard economists Kenneth Rogoff and Gregory Mankiw have both called for the Federal Reserve to commit itself to generating a modest amount of inflation, a strategy that could dramatically ease the de-leveraging process while raising the risk of an uncontrollable inflationary spiral. My sense is that this is a risk worth taking.

...sorry, this scares the hell out of me. We are eventually headed in this direction, maybe not soon, but eventually.

And, the latter part about "right to rent" - isn't that just another way of saying, let's move the toxic assets off the books to a bad bank - except the home(owners) get to stay in their homes? Sorry, I don't trust that one either.

But, agree, helluva an interesting article!
137. JuneB
Obama's dirty missile defense secrets
By: James Carafano
Washington D.C. Examiner Columnist
August 24, 2009

While campaigning for president, Barack Obama promised to support missile defense that was "pragmatic and cost-effective" and "does not divert resources from other national security priorities until we are positive the technology will protect the American public."

This measured support for missile defense, coupled with his pledge to combat terrorism and follow through on the mission in Afghanistan, was meant to reassure America's voters.

The intended message: A President Obama would not be negligent on national security. Once in the White House, he would protect Americans.

That was the promise. Americans believed it. And it helped carry him into the Oval Office with a comfortable majority.

None of these facts about the Obama defense is really a "secret." The administration, however, doesn't dwell on them much. That's because it makes a mockery of candidate Obama's campaign pledge not to neglect missile defense.

http://www.washingtonexaminer.com/opinion/columns/Obama_s-dirty-missile-defense-secrets-8147047-543 42887.html
OK, I thought we'd have a nice quiet week with Obama on vacation. Being that nobody is looking to make any news, and all....LOL!

Holdren appts prosecutor to probe CIA cases.
Announcement of the $2 trillion deficit increase.
Bernanke second term.
AFL-CIO leader named head of NY Fed!?!
Possibility of 90,000 deaths from swine flu.
Deadliest year of the war as of now.
Michael Jackson's death HOMICIDE.


Healthcare overhaul? What healthcare overhaul?
I don't think foreign policy, especially on the wars, is getting enough attention, AT ALL.

Washington Post Article by David Ignatius

Should the Americans try to restore order? The top Iraqi intelligence source answered sadly that it was probably wiser to "stay out of it and be safe." When pressed about what his country would look like in five years, absent American help, he answered bluntly: "Iraq will be a colony of Iran."

Link

Quoting homegirl:
...AFL-CIO leader named head of NY Fed!?!


Just when you thought things couldn't get much worse at the New York Fed? I guess we couldn't expect another of Sach's cronies. Instead, we get one of Obama's cronies! Must've been the trade-off for Bernanke getting to stay.

I'll bet the blue-bloods in New York are furious!
Quoting moonlightcowboy:


Just when you thought things couldn't get much worse at the New York Fed? I guess we couldn't expect another of Sach's cronies. Instead, we get one of Obama's cronies! Must've been the trade-off for Bernanke getting to stay.

I'll bet the blue-bloods in New York are furious!
Just never stops now, does it? 2010 seems such a LONG time away.
....and, good morning! :)

But, why are we still listening to this guy!




...geeesh! Everything he is saying is for crap!
Seriously, with monetary policy being more important than ever, we decide to put a person with the "community's interest" to lead the NY FED?? UM...which community? Isn't monetary policy supposed to represent America's interest as a whole? What qualifies this guy to lead on monetary policy? Does he have tested banking experience?? I'm going to go out on a limb here and say, probably not. Blue Bloods aren't the only ones who should be pitching a fit! ;)
It almost seems like Barockstar has accepted that it is all inevitably going down in flames, so he is manning the field with weak, inexperienced players, so that he can say "It's not my fault, W left me with too many problems and my team didn't have the experience or ability to turn things around quickly enough."
Of course, that could be the plan, run it all into the ground as fast and hard as possible, that way he doesn't have to hide or dance around what appears to be the plan of turning this country into a socialist dictatorship as that is what will likely emerge from the wreckage.
Quoting homegirl:
Seriously, with monetary policy being more important than ever, we decide to put a person with the "community's interest" to lead the NY FED?? UM...which community? Isn't monetary policy supposed to represent America's interest as a whole? What qualifies this guy to lead on monetary policy? Does he have tested banking experience?? I'm going to go out on a limb here and say, probably not. Blue Bloods aren't the only ones who should be pitching a fit! ;)



Obama has many political favors to return still. Maybe there were just no more czar offices available in Washinton - so, he just sticks this thug at the NY Fed.
Quoting MidWestChaser:
It almost seems like Barockstar has accepted that it is all inevitably going down in flames, so he is manning the field with weak, inexperienced players, so that he can say "It's not my fault, W left me with too many problems and my team didn't have the experience or ability to turn things around quickly enough."
Of course, that could be the plan, run it all into the ground as fast and hard as possible, that way he doesn't have to hide or dance around what appears to be the plan of turning this country into a socialist dictatorship as that is what will likely emerge from the wreckage.
Yep, the Agenda is to bring up completely down and then he looks like the Messiah with all the govt programs to take care of us -- socialism at its finest. Good point about bringing in all the inexperienced people.
Obama doesn't appoint this guy, the Board does, from what I can find.... and he was on the board for 3 years. Not sure that qualifies him as having "tested banking experience" but, I'm guessing it won't be questioned too closely.
Quoting MidWestChaser:
It almost seems like Barockstar has accepted that it is all inevitably going down in flames, so he is manning the field with weak, inexperienced players, so that he can say "It's not my fault, W left me with too many problems and my team didn't have the experience or ability to turn things around quickly enough."
Of course, that could be the plan, run it all into the ground as fast and hard as possible, that way he doesn't have to hide or dance around what appears to be the plan of turning this country into a socialist dictatorship as that is what will likely emerge from the wreckage.


Nothing this clown does would surprise me. He is proving that he is in way over his head, following all of the usual (but clearly exponential) practices of "inside" Washington politics.

But, make no mistake - nothing is unintentional. If he were genuinely concerned about the economy, this POTUS would be non-stop talking and doing things about creating jobs - not the bureaucratic government ones attached to new and expanding programs.

I don't believe I've heard him stutter a syllable about improving jobs in the private sector - not one!
He's already proved himself the big, bold liar when it comes to dissolving or renotiating the so-called "free-trade" policies that have killed this country's economic machinery.

The NAS (North American Summit): Fruitless on Fair Trade
Then again, another way of looking at it, and I'm not quite sure if this is in his defense, or just a way of relating what seems to be going on, if he were in college, "rush week" has just ended and he is in the frat of his choosing, being so, he is settling into the frat life of drunken partying and debauchery, now with a new semester preparing to start, will he buckle down and do what he is there to do, or will he make the mistake that so many college kids do, overwhelmed with their newfound freedom, and feeling "large and in charge" until he screws up so bad he gets kicked out and sent home with his tail between his legs?
From what I have seen thus far, the latter seems imminent!
Quoting MidWestChaser:
Then again, another way of looking at it, and I'm not quite sure if this is in his defense, or just a way of relating what seems to be going on, if he were in college, "rush week" has just ended and he is in the frat of his choosing, being so, he is settling into the frat life of drunken partying and debauchery, now with a new semester preparing to start, will he buckle down and do what he is there to do, or will he make the mistake that so many college kids do, overwhelmed with their newfound freedom, and feeling "large and in charge" until he screws up so bad he gets kicked out and sent home with his tail between his legs?
From what I have seen thus far, the latter seems imminent!


LOL, uuuummm, that sounds about right! ;)
Just released from the WH

Still pointing fingers ...

WH fact sheet link embedded in the article.

Post take

WSJ take
Very nice blog. Hopefully the residents of our country will soon learn that not spending money is the worst thing you can do.
How did I know you would focus on that line?
No one is so unreasonable as to call for such a dramatic action in a leader's first year, unless of course they did something(s) that can be proven to have not been done in the best inteterst of the nation, or with knowledge that it would be detrimental. Many, if not most of the things done lately would fall into that category, but they are defendable from his side as well. If things don't turn around, if the decisions and actions coming from Washington do not improve dramatically and quickly, I could see, and unfortunately support such action.
I say unfortunately, because of the message such an action sends the world about the people and administration of the United States, but at the same time, it sends a clear message to the remaining as well as future administration, that we will not hesitate to eliminate those showing incompetence.
Scare the bastards a bit and maybe they'll straighten out!
Interesting read -- Still chewing on it. I don't know the author.

Includes a link to -- Small Lessons from a Big Crisis above the graph in the article.


U.S. Economy: Getting There from Here

Time to work and generate some revenue. L8R


Fiscal RUDE Awakening {shuddering}

Link
A bit off topic but why do we allow this:

Mayor of New Jersey Town Vows to Fight Qaddafi Visit

The mayor of a New Jersey town where Libyan leader Muammar al-Qaddafi plans to stay when he addresses the U.N. General Assembly next month says the "terrorist" should reconsider.

Not that I agree with "W"'s agenda, but while he was deciding leaders of foreign nations, he should have been replaced along with Sadaam.
160. JuneB
Quoting homegirl:
I don't think foreign policy, especially on the wars, is getting enough attention, AT ALL.

Washington Post Article by David Ignatius

Should the Americans try to restore order? The top Iraqi intelligence source answered sadly that it was probably wiser to "stay out of it and be safe." When pressed about what his country would look like in five years, absent American help, he answered bluntly: "Iraq will be a colony of Iran."

Link



I agree HG, not only is the economy in trouble, but we are in huge trouble on defense. And I think it is going to bite us in the butt, big time. We are allowing Iran to become a nuclear nation, and we are in trouble in Afghanistan and Iraq again. This administration is not interested in winning. So, as we are now mealy month, apologists, we are seen as weak, causing more deaths in the last few months, than any month in the entire 8 years. Funny how suddenly HC is so important, and our defense is being cut out of the budget.
Quoting MidWestChaser:
Not that I agree with "W"'s agenda, but while he was deciding leaders of foreign nations, he should have been replaced along with Sadaam.


Not that I don't agree, but I would take two W's over this clown any day! And, we have to remember that much our problems don't even come from the presidency - they come from Congress. And, from us, because we don't demand more accountability and fiscal responsibility.
Link

For your reading enjoyment. In case you haven't seen it already.

:)
Quoting homegirl:
Link

For your reading enjoyment. In case you haven't seen it already.

:)
So you think the honeymoon is ending? :)
Recon going out in a couple hours. Keep an eye on this one CG. :)
The Pope and Nancy Pelosi are on the same stage in front of a huge crowd.

The Madame Speaker and His Holiness, however, have seen it all before.
To make it a little more interesting, Madame Speaker says to the Pope,
"Did You know that with just one little wave of my hand I can make
every Democrat in the crowd go wild?"

He doubts it, so she shows him. Sure enough, the wave elicits rapture
and cheering from every Democrat in the crowd.
Gradually,the cheering subsides.

The Pope, not wanting to be outdone by such a level of arrogance,
considers what he could do..

"That was impressive, the Pope says, "But did you know that with just
one little wave of MY hand I can make EVERY person in the crowd go crazy with joy?
This joy will not be a momentary display like that of your subjects,
but will go deep into their hearts, and they will forever speak of this day and rejoice."

The speaker seriously doubts this, and says so.
"One little wave of your hand and all people will rejoice forever?
Show me."
.
.
So the Pope slapped the **** out of her.
167. latitude25
That is hysterical.

HG - thanks for the warning since I am banned from Dr. M's blog, I can't see what is happening. LOL
ROTFLMAO!!!!!!!
I love it!
MLC.......have you ever seen the oppostition so deflated?

I guess they are starting to wake up.
so this is where you guys went....

;)
Quoting NRAamy:
so this is where you guys went....

;)


;)
Issa: Obama's budget 'rife with assumptions that defy logic'
@ 2:06 pm by Jordan Fabian
House Oversight and Government Reform Committee ranking member Darrell Issa (R-Calif.) slammed on Tuesday President Obama's mid-year budget review for making "assumptions that defy logic as much as his spending defies gravity."

The administration announced today that it increased the projected budget deficit to $9 trillion over the next decade from $7.1 trillion and estimated unemployment would pass 10 percent.

The fifth-term Republican implied that the estimate could be even worse, accusing the White House of using faulty assumptions to draft its estimate.

"Adding insult to gimmickry, President Obama's budget continues to assume that Congressional Democrats will allow 'stimulus' pet projects to expire, that a government take-over of health care will be budget neutral and that the economy will return to a roaring 3.2 percent growth next year," Issa said in a release.

He also hit at the administration's economic policies, saying that the Obama administration "vastly underestimated every aspect of our financial crisis: from unemployment to deficits, from mythical 'jobs saved or created' to projected economic growth."
Govt at its finest:

Stimulus Checks Mistakenly Sent to 1,700 Inmates, Federal Agency Says
The inspector general's office for the Social Security Administration is looking into the problem as part of its broader audit on stimulus spending. The Social Security Administration acknowledged the $425,000 glitch following a report that nearly two-dozen inmates in Massachusetts had wrongly received the $250 stimulus checks.
conchy...I guess crime really does pay!

"Adding insult to gimmickry, President Obama's budget continues to assume that Congressional Democrats will allow 'stimulus' pet projects to expire, that a government take-over of health care will be budget neutral and that the economy will return to a roaring 3.2 percent growth next year," Issa said in a release.


This is a satirical, but more accurate look at reality. Thanks for posting that.
Quoting conchygirl:
...The Social Security Administration acknowledged the $425,000 glitch following a report that nearly two-dozen inmates in Massachusetts had wrongly received the $250 stimulus checks.



Massachusetts? Go figure. Isn't that "Fat Mouth Frank's" state? ;) Isn't he in "charge" of the money?
Here's a chilling look at a radical TEA PARTY political cell out of Quincy Illinois.



Holy COW, what is this world coming to?!?
Quoting homegirl:
Here's a chilling look at a radical TEA PARTY political cell out of Quincy Illinois.



Holy COW, what is this world coming to?!?


LOL
Throwing money at problems, just as Japan did, is not grounds for a strong recovery.

Few seem to understand the secular change in consumer attitudes and what a secular bear market in stocks really looks like.

Bumpy Ride To Bottom

Inquiring minds are reading Markets In for a Bumpy Ride to a Bottom.
The current conviction running rampant is that kick-starting the animal spirits is the appropriate abracadabra because the full faith in the government and the belief that the market always came back has always worked -- eventually. The problem is, eventually is a long time.

The symbiotic relationship between government and Wall Street is being bought by the financial markets -- literally. It’s not just that financial markets believe in the government -- they want to believe, they have to believe. They have had little alternative since essentially both were part of the problem.

Main Street is not so sanguine. A new downturn and a failure of green shoots to magically manifest into redwoods could send a severe psychological shiver. Question: if crisis has been completely stemmed and we're on the road to recovery and the government has used all its bullets, a failure of the party line and a second dip should cause the power of the government to be questioned. Disillusionment could cause what might be a second dip in otherwise less virulent great recessions to become more pronounced. At best it could translate into a long period of bumping along the bottom. At best it could accelerate a downturn with a hope-filled V going from a W to a Y.

Few of the technical analysts on the Street today have ever traded through a secular bear market. Nor have many of their indicators. This is the first secular bear market where technical tools and indicators have been democratized to a large degree by the computer and the Internet. There's a lot of belief being placed in a lot of indicators that have not proven themselves in a secular bear market. In my experience, the thing with most technical indicators is that while they may have worked well many times, they can fail you when you need them the most -- Anthill Indicators. Moreover, most technical indicators are descriptive, not predictive. Cycles and the price patterns they trace out in their rhythmic motions speak to the mood of investors' emotions: the music of the market rises and falls, undulates and seethes with the mentality of the mob, the sentiment of the crowd.

Last week the Daily Sentiment Index hit a new high of 88% bulls. The last time this level was hit was in October 2007. Why was there so much bullishness then... the crisis was over? The belief in the Fed and containment was widely embraced. The Street bought it hook, line and sinker. Literally.
Once again, market participants have bought into wizardry, hook line and sinker as noted in Belief In Wizards Runs Deep.

Few think a W or L shaped recession is possible. The S&P PE is an insane 145. Yes, that is backward looking. But what forward earnings does everyone expect given consumer attitudes towards consumption have changed for good and boomers heading into retirement are scared to death?

Whatever those earnings expectations are, disappointments are likely. Either earnings will miss targets, or the stock market will sink anyway because the earnings and then some have long been priced in. However, that is tomorrow's business. Today's business is about buying into the rally hook line and sinker, just as the charlatan wizards have hoped.
Anheuser-Busch, MillerCoors: price hikes in fall


Where's the "deflation?" Seems to me the only thing "deflating" is my pocket buzz...and my beer buzz!
...do not let it be said that I am not an equal opportunity party criticizer - GRASSLEY needs his head examined!

Senator warns of hyperinflation rivaling the 1980s

The economy could spiral into hyperinflation not seen since the early 1980s if the Federal Reserve does not tighten its monetary policy soon, Sen. Chuck Grassley (R-Iowa) warned Tuesday. Grassley, speaking about the renomination of Federal Reserve Chairman Ben Bernanke to a second term as head of the Fed, asserted that Bernanke's ability to hold down inflation would be the metric by which the Fed's success would be measured.

"We won't know for a year if he's done a good job so far, because he shoveled money out of an airplane to save banks and the financial system," Grassley said in a conference call with Iowa reporters. "But shoveling money out of an airplane to solve problems can be inflationary - in this case, hyperinflationary - if he doesn't start mopping up some of the money that's out there." Grassley, the ranking member of the Senate Finance Committee, said that inflation as a result from government spending on bailouts could result in inflation rivaling rates in 1980, when it hit a peak of 13.5 percent.

"The Fed has the ability to put money out, it's got the ability to take money back in, and if they don't do that, we will have hyperinflation worse than we had in 1980 and '81," Grassley said. "And I hope he demonstrates that ability." Grassley argued that while it would be a year until lawmakers will know whether Bernanke has been successful at bringing inflation under control, it would probably be best to keep the chairman on board for a second term as head of the Federal Reserve.

"I would suggest that right now, when everybody's nervous about the economy, that you don't change horses in the middle of the stream, and consequently, it would probably be detrimental to not have him reappointed," he said.





While he could be partially right about the inflation, he's dead wrong about Bernanke who was alseep at the wheel when the wheels were coming off - what makes anyone think he can control anything! Hell, anyone can "give" money away like he did, shoveling it out to foreign countries, big banks and governments! Grassley is wrong about Bernanke!

The part of inflation that I don't buy into is that much of the money the FED pumped into the system has never made it to the streets - much of it actually never left the FED's vaults (lol, like there is some vault with trilions of dollars - this is all digital, a fabrication). It simply shored up the accounting books of banks, though much of that digital or hard currency did leave the vaults and go to foreign interests.

Yes, there's money out there, but that money has gone to shore up bank books and fund goverments - all - the Federal Gov't, state govt's and local govt's who are all operating with severe, many of them at crisis-level budget shortfalls.

It's not that the money hasn't made it to the streets, so much as it is that it is filling the holes, the voids where money once was! With the severe contraction that we've had, government revenues are way down, down incomprehensibly.

The only thing Bernanke has done is fill some holes. And, lol, we've got Obama and the Princess/Prince party trying to create more holes! Geeeesh!

Now, the inflation part? Hhhhhhmmmm, the old rules of "supply and demand" are not as steadfast holding true imo as that theory has been in the past. Sure it still apples I beleive, but consider this - manufacturers, retailers, etc, will ultimately do a few things: they will either cut back production and layoff workers (many have), close shop altogther, or like the FED "raise" prices to fill the "void" where money once was - instead of dropping prices, to hopefully, create more demand.

Truth is - I think we're seeing both! A mixture - housing prices sinking, but some aspects of retail increasing.

If energy prices increase - pull out the fork - we're done!
183. moonlightcowboy
You know MLC, I have been observing him for awhile and think he might be getting a bit senile.
It has come to my attention that I have an impersonator running around wunderground telling folks they're me. The handle of this character is sixshootersully. Please, let it be known that this in NOT me. If this person continues to troll the blogs under the assumed identity please wumail me. Thanks!!
Quoting sullivanweather:
It has come to my attention that I have an impersonator running around wunderground telling folks they're me. The handle of this character is sixshootersully. Please, let it be known that this in NOT me. If this person continues to troll the blogs under the assumed identity please wumail me. Thanks!!



Hey, Sully! I've seen shooter, but he has not portrayed himself to me as if he were you. He doesn't even post like you.
Hummmm,,,,,,,,,not new, but is perhaps indicative of something. ABC?

Death Drugs Cause Uproar in Oregon


Interesting language heard on the HC bill. It was said the medicare coverage will not be cut, but Reimbursement will to save money.

Think about it!

Lets short the guy doing the work?

Do you think that is good?
Quoting sullivanweather:
It has come to my attention that I have an impersonator running around wunderground telling folks they're me. The handle of this character is sixshootersully. Please, let it be known that this in NOT me. If this person continues to troll the blogs under the assumed identity please wumail me. Thanks!!




It should be quickly resolved via Admin. You cannot hide from the internet or log in. You/they have a traceable IP !
MLC,

I think I've seen him/her around the blogs before but I didn't know they had been telling others that they were me or that they're going to use their 'featured blogger' powers to get people banned from wunderground.


I'm glad you recognized it wasn't me =)

To get the oil price, please enable Javascript.

...I thought it might be a good time for a little "refresher" on "helicopter money" and rising energy prices.

Oil price and the $700B bailout
by Steve Austin - 2008/10/06

As the US house of representatives voted to increase the dollar supply by $700B, many are wondering what effect this will have on energy prices.

History is full of tragic examples where helicopter money triggered rampant inflation and widespread economic hardship. Let's take a look at some of these examples in the light of today:

Crushed by World War One's debt, the Weimar republic kept printing money and giving it directly to consumers and businesses to buy votes and help them cope with ever increasing prices.

Within a few years the Mark had devaluated so much that a postage stamp cost fifty billion Mark and everyone's life savings had been wiped out. Mark bills were worth less than the paper they were printed on. As the famous picture above illustrates, in the face of galloping energy prices, it had become cheaper to heat one's house by burning money than coal. Although one US dollar is still worth more than the paper it is printed on, as of 2008 one US penny contains 2 cents worth of metal.

Although oil prices seem high today, they are kept artificially low because many oil-producing nations such as Saudi Arabia peg their currencies to the US dollar. When the dollar is devaluated, these countries currencies and national economies are threatened by inflation and this is an incentive for them to let their currencies float and appreciate. In 2006 Kuwait unpegged its currency from the US dollar and as other oil-producing nations follow suit, expect energy prices to rise.

Currently oil is bought and sold on the world market in dollars, so everyone needs to first buy dollars in order to buy oil. We have reported on a trend for oil-producing countries to sell oil in Euros instead of Dollars. As more oil-producing nations fear the dollar is becoming "funny money" and demand payment in Euros, the world's need for Dollars will be greatly reduced. This is basic supply/demand economics.

Simply put, the average American household is already too much in debt and this scares banks from lending any money. Giving $700B to these banks will not change the fact that lending to bad debtors is a risky venture. It is safer for banks to invest this money in commodities (oil and gold) which do keep up with inflation than to issue loans that cannot be repaid. So expect this bailout package to give a speculative boost to oil prices.
Quoting sullivanweather:
MLC,

I think I've seen him/her around the blogs before but I didn't know they had been telling others that they were me or that they're going to use their 'featured blogger' powers to get people banned from wunderground.


I'm glad you recognized it wasn't me =)



Wow, Sully - didn't know that person was doing that. Report that immediately to admin. I will flag the blogger in the future. Thanks for the heads up, friend.

Hey, man - what have we got seat of the Bahamas? Something more baroclinic than tropical?
Quoting Ossqss:
Lets short the guy doing the work?

Do you think that is good?


Of course not - but this is effectively a "hidden tax" And, I can't believe others don't see this kind of thing coming. What happens when many of the hospitals - most of them government entities, experience budget shortfalls? They cut back on services (where they can) and raise rates, and/or raise taxes to meet budget shortfalls. As far as the money is concerned, this is simply more of the fed passing the buck on to the state and local levels imo - more taxation, that we knew was coming!

Surgery costs "X" amount of money to perform. Whether the Fed cuts or reduces their reimbursement will hardly change what surgery, etc, costs. And, hospitals and doctors will find new ways to replace the void where the money once was - same thing Bernanke has doing, filling holes where money once was.

Effectively, there's no "stimulus" - the more I think about this, we're pushing further towards a liquidity trap such as happened to the Japanese, but more than likely, substantially worse.
As Budget Deficit Grows, So Do Doubts on Dollar

LONDON -- The U.S. economy may be showing signs of recovering from the financial crisis, but the jury is still out on the future of the U.S. dollar.

While many analysts expect the dollar to strengthen in coming months as the crisis fades and the U.S. economy turns toward growth, a growing chorus of investors is expressing concern about the longer-term outlook for the greenback.

In a new twist to an old refrain among economists, who have long worried about the effects of growing U.S. debt, they say that the huge liabilities the U.S. is taking on to dig its way out of crisis could ultimately undermine faith in the dollar.

"There has been a lot of disappointment with the way the U.S. credit crisis was handled," says Claire Dissaux, managing director of global economics and strategy for Millennium Global Investments Ltd., a London investment firm specializing in currencies. "The dollar's loss of influence is a steady and long-term trend."

On Tuesday, the Obama administration added fuel to concerns about the dollar, saying the U.S. will run a cumulative budget deficit of $9 trillion over the next 10 years, $2 trillion more than it had previously projected.

"That's going to be negative for the dollar," says Adam Boyton, a currency analyst at Deutsche Bank AG in New York. President Barack Obama also reappointed Federal Reserve Chairman Ben Bernanke, whose efforts to rescue the economy have won praise, but have also entailed pumping large amounts of freshly created dollars into the financial system.

Investors and economists have long harbored concerns about the dollar's decline, especially in the beginning of this decade as the federal government and consumers ran up their debtloads to finance everything from foreign wars to flat-screen TVs. Last fall's financial crash suggested that such fears may be overblown: As markets plunged in the wake of the collapse of Lehman Brothers Holdings Inc., investors scrambled to stash their cash in U.S. Treasury bills, perceiving them to be the safest investments. That boosted the value of the U.S. dollar against many of its major counterparts.

Now, though, major investors like Berkshire Hathaway Inc. Chairman Warren Buffett and bond investment firm Pimco fear the government's fiscal and monetary stimulus programs could end up fueling inflation in coming years and hammering the dollar. Higher inflation eats up the returns of bond investments that provide a fixed interest income, making them less attractive to investors. Less demand for U.S. bonds could mean a weaker dollar.

Mr. Buffett, for example, worries that U.S. policy makers will fail to move decisively to curtail the nation's ballooning net debt, expected by some to rise to more than 75% of annual economic output by 2013. Instead, policy makers might tolerate higher inflation, which makes existing debts more manageable but would hurt the U.S.'s creditors, including China and Japan. In this scenario, investors would demand much higher interest when lending to the U.S. government, raising its borrowing costs and making further budget deficits harder to finance at a time when an aging population will sharply boost the costs of social security and government-sponsored health care.
MLC,

As Dr.Masters wrote about in his blog this afternoon, the system is ingesting cooler drier air from the upper level low pressure. This is creating mesoscale features within the disturbance that are more baroclinic in nature with convection not moving in any particular cyclonic motion about the center of lowest pressure but more determined by the local environment in which they're borne.
With that being said, the disturbance should eventually mix out the dry environment and the larger upper low is forecast to weaken and drop southward with the upper low to the northeast of the system forecast to slowly open and head east leaving the storm in a more conducive environment for development.

I think we should see a hurricane develop from this one.

In 2005 a similar pattern over the Atlantic the first week of September gave us Maria, Nate and Ophelia. This could be a storm that mirrors those storms. The bad thing about these type of storms is that they tend to reach their peak intensity as they recurve. This is shown by most models to be near the Carolinas at that time so I would put them most at risk. New England second. But if it takes a track that takes the system over Pamlico and Albemarle Sounds and right up along the coast it might retain hurricane status until reaching New England cause the waters along the East Coast of the US has warmed to near 80°F to NYC in recent weeks after spending much of the spring and summer below normal. It's so odd how whenever these large warm-ups of the coastal waters off the Northeast portend tropical storms, a la 1938.
Thanks, Sully, I knew I'd get the good 411 from you! Appreciate that.

And, yup, that Gulf Stream looks smokin' hot!
The Lion of the Senate passes

Respect for the Kennedy family.

And, I will not miss him being in the Senate.
Home Sales number's good news? Until the gov't first time home buyer credit expires...



And the durable goods number looks GREAT, until you take out the transportation industry numbers (Cash For Clunkers) that pretty much accounted for all of it....

The DEVIL is in the details. I guess we could say that gov't stimulus is now stimulating though?!? ;)
Quoting homegirl:
Home Sales number's good news? Until the gov't first time home buyer credit expires...



And the durable goods number looks GREAT, until you take out the transportation industry numbers (Cash For Clunkers) that pretty much accounted for all of it....

The DEVIL is in the details. I guess we could say that gov't stimulus is now stimulating though?!? ;)
It is stimulating, alright. LOL
Makes me wonder if anyone is going to care enough to even write the numbers down when the bottom falls out, with all of these government programs gone.
Congratulations Mr. Obama, you and your cronies have successfully murdered the American economy, probably a few other nations along with it. Yeah, I know it's early, but it's also inevitable, and I wanted to be sure to get my thanks in, in case I can't when the time comes.
CHANGE!
Yeah, in the end there will probably be a change in government when those we are indebted to call in their markers to save their economies when ours finally breathes it's last, what will we have but for them to divide up the country and take their slice as a territory.
I hope the part I am in stays with whatever country takes the part my family is in so I don't need a passport to visit my mother.
BTW, I know it's somewhat far fetched, and an over-reaction, but then again, in your wildest dreams did you ever think you would see an administration so focused and determined to destroy this country as quickly and efficiently as is being done now, all while fooling the majority into thinking that it was being done for their betterment?
Quoting MidWestChaser:
BTW, I know it's somewhat far fetched, and an over-reaction, but then again, in your wildest dreams did you ever think you would see an administration so focused and determined to destroy this country as quickly and efficiently as is being done now, all while fooling the majority into thinking that it was being done for their betterment?
You are on a roll this morning MWC....pathethic isn't it and saddest of all is that some just do NOT GET IT!
I gotta stop sending tea bags to my representatives, so that I can start stockpiling food.
Pathetic? No, it's far beyond pathetic, nauseating, mind boggling, sad, sickening, there are no words for describing it, or anything to campare or liken it to. I'm not a genius, but I consider myself to have a rather eloquent vocabulary when I want to use it, and there is just no wrods or description.
I wonder if this is the same incredulous disbelief one would have had standing in Jonestown just before everyone took a big drink?
Quoting MidWestChaser:
I gotta stop sending tea bags to my representatives, so that I can start stockpiling food.
Pathetic? No, it's far beyond pathetic, nauseating, mind boggling, sad, sickening, there are no words for describing it, or anything to campare or liken it to. I'm not a genius, but I consider myself to have a rather eloquent vocabulary when I want to use it, and there is just no wrods or description.
I wonder if this is the same incredulous disbelief one would have had standing in Jonestown just before everyone took a big drink?
Interesting comparison....I think others have probably had that same thought. :(
210. JuneB
Quoting moonlightcowboy:
The Lion of the Senate passes

Respect for the Kennedy family.

And, I will not miss him being in the Senate.


At least we can respect him for as Matt Laurer said today, "being a true partisan liberal", even though only 20% of the country agreed with him.

I am more disgusted with McCain for being wishy-washy and not standing up for conservative principals. Did anyone see his town hall meeting? I only saw clips, but IMO it was a sham, and I can not understand how he got the nomination. I can not see that this man stands for anything and it makes me mad.
I have it with both parties. Neither has put forth a worthwhile candidate, or done anything with the interests of The People in so incredibly long.
Barockstar was right, we need a change, his is not the change we needed, but we defenitely need a change.
Hey June: Haven't seen you here much - hopefully, work is good. Yes, we need REAL CHANGE....we best hope for a good running mate next time and pray 2010 brings some changes.
The indoctrination continues...

Link

At some point we have to start saying there is a conflict of interest here...it might seem innocent, but when you think that the gov't will be the only institution allowed to offer education loans (House Bill Proposal, hopefully won't pass, but made it out of committee) and Organizing for America and/or Americorps (gov't) is proposing to wipe out that student debt by going into public service for 10 years?? Ummmmm....??? Something is just not right here.

Quoting homegirl:
The indoctrination continues...

Link

At some point we have to start saying there is a conflict of interest here...it might seem innocent, but when you think that the gov't will be the only institution allowed to offer education loans (I think, I'll have to check on that) and Organizing for America and/or Americorps (gov't) is proposing to wipe out that student debt by going into public service for 10 years?? Ummmmm....??? Something is just not right here.

I saw this one.....always something huh.
215. JuneB
Quoting conchygirl:
Hey June: Haven't seen you here much - hopefully, work is good. Yes, we need REAL CHANGE....we best hope for a good running mate next time and pray 2010 brings some changes.


Hi CG-
You are right, I haven't been around much. Between the kid's birthday parties and selling homes, it is keeping me busy. All the first time buyers are trying to get the $8000 refund from us tax payers, before it expires in November, so it is crazy right now. Hope all is well with you and your family.
Afternoon, all! Just stopping in for a moment.



"Artificially Sweetened" Market Could Face "Seismic Readjustment," Harrison Says

After the heady rally off the March lows, Todd Harrison, CEO of Minyanville.com, now believes the risk-reward favors shorting the market vs. being long.

"This is a Splenda market - because there's so much artificial sweetener involved," Harrison says.

After making bullish calls here in February (albeit early) and again late April, he's more lately shorting the Powershares QQQ with a tight 2% stop. "That's all I'm willing to lose on this bet," he says.

Technically, the Nasdaq is currently at a major convergence of the downtrend line from its 2007 peak, long-term resistance at around 2000, and a 50% retracement of decline from the October 2007 highs to the March lows, Harrison says. That setup could result in at least a temporary setback for related stocks.

Longer-term, his concerns center around the novel idea that there's going to be a price to pay for all the government stimuli that have resuscitated the U.S. economy and given a major jolt to both the equity and credit markets. (...I don't agree with this)

"The government is showing its hand and what they want to do: They want to transfer our obligations to our children, which will inherently lower the standard of living to our children," he says.

But even worse than the shocking $9 trillion deficit America faces over the next decade, Harrison worries that we don't control our own fate. "That transfer of risk to future generation is in the hands of foreign holders of dollar-denominated assets," he says. "A seismic currency readjustment is a legitimate risk."
Hey MLC - appears you are having a busy day also.

I see Lt Gov of SC was trying to get Sanford to step down - he isn't budging. While I don't believe what he did is right by any stretch of the imagination....others have done much worse and stayed in office. Always something!
and the LT GOV says its not a political move...rrriiigghhht
I don't care who he/she is, what party they are from - if they can't keep their personal lives straight, I can't trust them public responsibility.

He should step down, like any of them should. They want it all - and do as they please, however, whenever they please without regard for the consequences. There is no way one gets in those situations and can truly focus on doing the job for the public.

They all make me sick that do this - and even sicker when they whine and try to "hang" on to what they had - public confidence to some measure at one time. It's G O N E! Give it up! Go get a real job and get your life straightened out - we don't need you. Move over and let someone that is responsible, pays attention, focuses and actually does work for the public have an opportunity!
220. JuneB
216. From moonlightcowboy -- "But even worse than the shocking $9 trillion deficit America faces over the next decade, Harrison worries that we don't control our own fate. "That transfer of risk to future generation is in the hands of foreign holders of dollar-denominated assets," he says. "A seismic currency readjustment is a legitimate risk."


And now for the real kicker: This 9 Trillion dollars DOES NOT include the costs of Obamacare which would create another estimated $1.5 trillion (and probably 2x's that amount) health care entitlement on top of our existing unsustainable entitlement obligations. We are on the path of unsustainable spending and borrowing.
UGH! No TV now for the next three or four days as we'll have to listen at all the left-loving liberals say praise over Teddy and what a great man he was for the the Senate and the US and more...blah, blah, blah! UGH! I didn't cut him any slack when he was living and I won't start singing joy praises for him when he is dead and gone either!

I will say that the only legislation I thought he helped with that was certainly economically productive was one bill he co-authored with Dan Quayle for JTPA - the Job Training Partnership Act. That was a good program that helped employers and employees make hiring and training them easier. It helped folks get jobs that otherwise might not have gotten them! I wasn't a big fan of it, but I liked it.

I mentioned respect for the family first off this morning - that'll be as far as it gets.

I'm glad football season is cranking up good this weekend!
Exactly, June! You see it, any level-headed person should see it - we are at unsustainability! Period. We cannot keep going down this path!
223. JuneB


Since World War II, the largest budget deficit recorded was 6.0 percent of GDP in 1983. The Bush Administration oversaw budget deficits averaging 2.0 percent of GDP. The projected 2009 budget deficit of 11.2 percent of GDP would nearly double the post-war record.

The 2009 budget deficit will be larger than all budget deficits from 2002 through 2007 combined. More than 43 cents of every dollar Washington spends in 2009 will have been borrowed.

While President Obama claims to have inherited the 2009 budget deficit, it is important to note that the estimated 2009 budget deficit has increased by $400 billion since his inauguration, and the whole point of the %u201Cstimulus%u201D was to increase deficit spending to nearly $2 trillion based on the unproven notion that would it alleviate the recession.

The 22 percent spending increase projected for 2009 represents the largest government expansion since the 1952 height of the Korean War (adjusted for inflation). Federal spending is up 57 percent since 2001.

In 2009, Washington will spend $30,958 per household%u2013the highest level in American history%u2013and under President Obama%u2019s budget, the figure will rise above $33,000 by 2019.
The White House brags that it will cut the deficit in half by 2013.

The President does not mention that the deficit has nearly quadrupled this year. Merely cutting it in half from that bloated level would still leave budget deficits twice as high as under President Bush.

The public national debt%u2013$5.8 trillion as of 2008%u2013is projected to double by 2012 and nearly triple by 2019. Thus, America would accumulate more government debt under President Obama than under every President in American history from George Washington to George W. Bush combined.
--Brian Riedl- Heritage Foundation
What family of Liberal Royalty takes over for the democrats with the passing of Ted?.....
Is there one out there anymore; A familiar family name in liberal politics that you know will never be voted out? I can't think of one.

Clinton comes to mind, but the dems voted her out of the Iowa caucus.

Finally some progress to getting these eliteists to be held accountable for their actions. Out with the old, in with the new.
Astro-turf?

Civil rights groups rally around Vick

PHILADELPHIA -- The Philadelphia chapter of the NAACP, the Black Clergy of Philadelphia and other local civil rights groups are planning a massive demonstration to support Michael Vick at Lincoln Financial Field on Thursday, when Vick is expected to make his debut with the Eagles.

While I agree and think Vick should get a second chance, I always seem to find myself at odds with the NAACP.

They seem to be a very devisive group over the years, most ironic thing is the NAACP actually attacked Mcnabb (the other Eagels QB) back in 2005.

When the NAACP claimed that Mcnabb "belittles the real struggles of black athletes who've had to overcome real racial stereotypcasting in addition to downright segregation."

The NAACP made this claim because Mcnabb had begun to "run less" and look for the open reciver downfield more often when "passing".

Oh well the most interesting thing about the upcomming pre-season game this Thursday when the Eagles play the Jaguars, is the head to head show down between to ultra left groups PETA and the NAACP.

Leave it to the hard left to put some political punch into a boaring preseaon game.

228. 11117
time for a new political party
Leave it to the hard left to put some political punch into a boaring preseaon game.

Don't worry, Keith Olberman still does the highlights for NBC Sunday Night Football...we'll get our liberal propaganda anyway we can from NBC, even at half time of a nationally televised football game.
August 26, 2009 - 12:43 ET

MSNBC's Keith Olbermannn

Glenn beck radio show:


GLENN: Highest rated show we've ever done was Monday night. We get Tuesday's ratings tonight.

PAT: It was over 3 million people the other night.

GLENN: Yeah, it was like 3.3 million people with both runs. It was 2.8 million, which used to be ‑‑ do you remember when we were over at CNN and Bill O'Reilly would have 2.5 million people watching and we would go, oh, my gosh!

STU: Yeah.

GLENN: That's a huge number. To put it into perspective, the CBS Evening News is about 4 million people, okay? That's network. Now, Bill just beat CBS Evening News the other night. I think he's beat them now twice. The mainstream media is becoming just totally irrelevant.

To put this into perspective, our 5:00 number, our 5:00 number of 2.8 and a total of 3.3 million people, 2.8 ‑‑ if you look at our number, 2.8, if you take Keith Olbermann ‑‑ in fact, do the math on this one, Stu. Keith Olbermann, Rachel Maddow, and ‑‑

PAT: Chris Matthews.

GLENN: ‑‑ Chris Matthews, and you combine them, we still beat them.

PAT: By about 300,000. It's astounding. Except for, I don't know how you are making this, Glenn.

GLENN: Why is that?

PAT: Because I mean, I hate to ‑‑ I intrude with the facts here. May I? May I just intrude with the facts?

GLENN: I just realized where you were going. Yes, go ahead. And intrude with the facts from Keith Olbermann.

PAT: Thank you.

OLBERMANN: I hate to intrude with the facts but ours is the highest rated cable news program viewers 35 and younger and the highest rated cable news program for all viewers not on Fixed News. And since Fixed News is now migrating to ‑‑

GLENN: Stop, stop. I hate to intrude on the facts, but ‑‑

PAT: On those 35 years old who walk with a limp and are midgets.

GLENN: And if we exclude Fox News. That's like I'm the richest man in America if I exclude everyone who's richer than I am.

STU: That's like Dennis Kucinich is the president except for all the other candidates. That is fantastic.

GLENN: Dennis Kucinich is the sexiest man alive... to people who have no eyes or hands.

PAT: The Toledo mud hens are the best baseball team in the world... except for everybody above them in AAA and Major League Baseball. Other than that they are world series champions.

GLENN: I hate to intrude with the facts.

STU: That quote is a reference point for everything Keith Olbermann says.

GLENN: Yeah.

STU: Every time he says something, you can be sure that it's coming through that frame of reference. It's that accurate. He's come up with some bizarre justification how he can say it on the air and not get sued. But it's about that truthful.

GLENN: Unbelievable. Well, he dismisses. He goes on, if I'm not mistaken. Do you have the part where he dismisses Fox because he says ‑‑

STU: Yes.

GLENN: ‑‑ all we do is tell lies?

OLBERMANN: The tinfoil hatters, conspiracy theorists, paranoids and racists, it is not a news organization making this show the highest cable news program, period.

PAT: Can you believe he had the unmitigated gall?

STU: (Laughing).

PAT: MSNBC, who is just ‑‑

GLENN: An organ.

PAT: ‑‑ the menial wing, an organ of the White House, they have the unmitigated gall to level that claim at Fox. That's unbelievable.

GLENN: That we're only broadcasting now ‑‑ listen to that ‑‑ we're only broadcasting to tinfoil hat people. Did he call, did he say terrorists? Play it again.

OLBERMANN: I hate to intrude with the facts but ours is the highest cable news program viewers 35 and younger and the highest rated cable not on Fixed News and since Fixed News has now migrated completely over to serving propaganda, tinfoil hatters, conspiracy theorists, paranoids and racists ‑‑

GLENN: Stop. Paranoids, conspiracy theorists, racists and tinfoil hats, that's who you are. Now, when he says propaganda, propaganda is State‑Controlled Media.

PAT: That's right.

GLENN: I don't know how many lines you need to cross before you get to State‑Controlled Media. Does Barack Obama need to sign the check for Keith Olbermann before we can look at MSNBC and NBC News as State‑Controlled Media?
"Keith Olberman still does the highlights for NBC Sunday Night Football"

That is so weird, I'll never get used to it.

Looks are big part of it, and he just does not look like he would know
one single thing about football.

So my head sorta jiggles when he's on and doing it,
Like watching Max Headroom do sports broadcasting.
So my head sorta jiggles when he's on and doing it,

my head would more than jiggle if I saw keith doing it...my head would f-ing explode....
Hummmm, who is really directing policy ? Is it really the Czar's? Did you know they get a salary of $172k per year and can have a staff of 10? HuH?

How can I get one of those jobs? LoL

One Czar




I have always trusted those who had proven their good judgement. Starting with the fundamentals of life and nature itself. I am really dissapointed by just looking at a few of the Czar's backgrounds. They are making policy! That is BS folks, total BS, that someone who has a proven BAD track record, is molding our future in their eyes through the figurehead. That is not acceptable, period.
Absolutely unacceptable
Everything aside, you don't pay taxes if you dont' have a job! Tax dollars pay for public programs. How can you support more spending with less tax dollars?

MLC, you have done a great job of pointing that fact out~!

Many need to hear and understand it is about jobs in the end !

It is a basic function of financing that seems to escape many of us.

Quote from the link ==

The estimated population of the United States is 306,807,704
so each citizen's share of this debt is $38,224.13.

U.S. NATIONAL DEBT CLOCK


Quote from Lou Holtz tonight on an easier new tax code, discussed on the news.

Line one== how much did you make

Line two== send it in!

LoL ---- You owe folks, are you or your children ready to pay the piper? =====

Sorry , these songs seem to fit, economically speaking! :P



Good evening, all. Thanks for the good, informative posts...and the humorous ones, too! ;)

Thanks, Oss. Yes, and the only thing we're hearing about jobs fro the POTUS is that we're losing them. But, we can talk about more government programs that will have to be supported from more borrowing and higher taxes from a considerably shrunken (still shrinking) tax base! Go figure!

We cannot borrow ourselves out of debt! The only way out of this mess is to grow the tax base and/or cut services - likely both.


One doesn't have to be an "economist" to discern that much!
B-R-E-A-K-I-N-G N-E-W-S!

From the MSM------ TED KENNEDY IS STILL DEAD!


Also this update just in---- Michael Jackson is also still dead!!!


Now there is no longer any need to watch the MSM outlets for the next three, or four days...
It is interesting seeing 15 people looking at this blog at one moment in time! Make it so folks, you do count!

How do you feel about things, do you want to make it known ? YOU should !
Hey, GR. Yup, we'll be hearing soundbites now for a week - except during the games this weekend, hopefully.

Oss - yup, you're right!



....yeah, we're all just mobsters! ;)
G'morning folks.

I borrowed this from Jer's blog:

New projection: 2.3 million fewer people working in 2010


...it's hard to imagine a jobless recovery. Don't forget about 500,000 are about to lose their UC benefits come September. They won't be counted again in the numbers for at least four weeks, but more importantly these people will be hurting, likely losing homes, cars, etc...and/or entering bankruptcy. Then, by the EOY (unless Congress passes a bill to extend UC benefits) that number will grow to 1,500,000! Historical data suggests that in recent years there has never been a total greater than 50,000 on average that have lost benefits.
And when federal emergency programs are included, the total number of jobless benefit recipients was 9.19 million people in the week that ended Aug. 8. That was up from 9.18 million in the previous week. Congress has added up to 53 extra weeks of benefits on top of the 26 typically provided by the states.

The large number of people remaining on the rolls is an indication that unemployed workers are having a hard time finding new jobs.


LINK


I'm not sure (could be wrong here) that at any extension has been added past 53 weeks - meaning, as mentioned previously, that by the EOY that 1,500,000 will be losing UC benefits unless new legislation to extend is enacted.
How do you feel about things, do you want to make it known ? YOU should !

yeah, and when I do, I normally get banned....

I'm too angry...maybe I'm related to Twiz....
http://www.usatoday.com/news/nation/census/2009-08-26-census-kits-schools_N.htm

{shaking head in disbelief}

Quoting homegirl:
http://www.usatoday.com/news/nation/census/2009-08-26-census-kits-schools_N.htm

{shaking head in disbelief}



UNBELIEVABLE! First Acorn - now, the govt is using kids as pawns! Yup, let's interfere with their educations so we can count all the folks so we can better control and tax. We've gone to hell in handbasket - this enrages me.
i cant access it from work
....here ya, toddluck! The Sesame Street characters and all to go with it!



Quoting toddluck:
i cant access it from work


Students' take-home assignment: Census kits

Anyone tempted to ignore the 2010 Census will have a tough time doing it - especially if they have kids in school.

The government has launched Census in Schools, an all-out campaign targeting superintendents, principals, teachers, students and, indirectly, parents, as schools open across the nation this month and next. The message: The Census is coming and here's why everyone should care.

The goal is to send posters, teaching guides, maps and lesson plans to every school in the nation, Puerto Rico and U.S. island territories to encourage everyone to participate in the national count. The materials will land in more than 118,000 schools and reach 56 million students.

"It's great to reach the children because children are such strong voices in their homes," says Renee Jefferson-Copeland, chief of the Census schools program. "In households that are linguistically isolated, they can express the information to their parents."

The school effort is more ambitious than in 2000, the last time the government set out to count everyone. At that time, teachers had to request the material and it was available only in print. Now, the kits and lessons will arrive in every school and lesson plans can be downloaded online, where they will be available in 28 languages.

The Constitution mandates a complete population count every 10 years. The tally - down to the city block - helps redraw political boundaries and determine states' representation in Congress and the distribution of more than $400 billion in federal funds to state and local governments every year.

"It's extremely important for us," says Michael McGrady, associate director for partnership development at the National Head Start Association, which promotes school readiness for low-income children and their families. "Historically, Head Start families have been undercounted and that has a negative effect on their communities."

Between January and March, the Census Bureau will help plan a week of Census education in schools. During Census Week, teachers will devote 15 minutes every day for five days to the topic by discussing such things as civic participation, confidentiality or geography. Beginning in mid-March, more than 120 million Census questionnaires will be delivered to residential addresses.

The Census Bureau is partnering with Sesame Street to extend the 2010 Census message to preschoolers and adult caregivers. Under consideration: Using Sesame Street characters on Census materials and having characters participate in school events and public service announcements.




I guess it's time for a little gerrymandering again, since all the Dems are in power. Happens all the time, whenever either party (but especially the Dems) has the chance!
250. mobal
TITLE 13 - CENSUS
CHAPTER 7 - OFFENSES AND PENALTIES

SUBCHAPTER II - OTHER PERSONS

Sec. 221. Refusal or neglect to answer questions; false answers

(a) Whoever, being over eighteen years of age, refuses or willfully neglects, when requested by the Secretary, or by any other authorized officer or employee of the Department of Commerce or bureau or agency thereof acting under the instructions of the Secretary or authorized officer, to answer, to the best of his knowledge, any of the questions on any schedule submitted to him in connection with any census or survey provided for by subchapters I, II, IV, and V of chapter 5 of this title, applying to himself or to the family to which he belongs or is related, or to the farm or farms of which he or his family is the occupant, shall be fined not more than $100.

(b) Whoever, when answering questions described in subsection (a) of this section, and under the conditions or circumstances described in such subsection, willfully gives any answer that is false, shall be fined not more than $500.
...more good news for CA and jobs market!

Toyota plans to end production at Calif. plant
Toyota board votes to quit building vehicles at industry's last West Coast auto assembly plant


WASHINGTON (AP) -- Toyota Motor Corp. said Thursday it plans to end production in March 2010 at a California joint venture where it has built vehicles with General Motors. The decision would mean the shutdown of the sole auto assembly plant on the West Coast if no other carmaker emerges to keep it going.

Toyota had said previously that it was moving toward liquidating its stake in the California facility after the plant's fate was thrown into question in June when GM announced it was withdrawing from the 50-50 joint venture. General Motors Co. emerged from bankruptcy and the company's stake in NUMMI is now part of Motors Liquidation Co. -- also known as Old GM -- where it will be liquidated under court supervision.

The NUMMI plant, established in 1984, employs 4,600 workers. Toyota builds the Corolla compact car and the Tacoma pickup truck at the plant and until recently GM built the Pontiac Vibe station wagon there.
251. Yup, sounds like green shoots to me, huh?


...the Mars hoax continues - no sight tonight as large as the moon! ;) Mind you, last night's wasn't full, but it was awesome. Next FM here - Sept 4.

But, it sure was an interesting gaze at the moon last evening! Beautiful!
...aaah, yes, gold - "a heart!"

I rarely look at this thing anymore, but I want to thank those that visit - maybe there's some shared information here from time to time that's useful. I hope so.

Photobucket
...occasionally, there's music! ;)

Yes there is ! Remember to keep on Rockin in the Free World, the right way !



Green shoots!!!!!? If I add water to a package of seeds and put it in the closet! Those seeds will sprout and be green. But then what happens?
No matter how much "WATER" I add those seeds will struggle then suddenly crash and die!
Again prophetic Chauncy Gardener.
Sounds like the path our overpriced seeds are doomed to follow!
Not to mention the waste of water!
260. mobal
SP, Great analogy!
Mobal have you ever seen the movie Being There?
Staring Peter Sellers,who is a slow single minded gardener who may have a chance at the presidency.
It is way deeper than it appears on the surface!
Mobal BTW please refer to me as something else than SP. I easily get confused.
Other people use SP to refer to another blogger.
I had to read back to make sure you were referring to Spathy.
Mobal
Even something like spt or Spat(odd meaning) but ok.
Or even my Name that I have only shared with a few (Bobby)
Or now everyone:)
The "phune" guy? ;) Yeah, I've seen it. Good stuff.


There's a new blog coming, I've just been very busy with extra effort trying to make things happen. If there is any highlights in GDP, I can promise you, it's coming from the good 'ol, hard-working capitalist businesses in this country who've been conservative, business-minded and operating with a sound business model, despite the fluctuations in the economy. These folks have a helluva an engine running! Everything short of that is either already gone or on the verge of it.
I'm thinking - what else is there? Gone already (and plz add cause I can't think of them all) are electronics, appliances, textiles and now auto. The tech bubble that hired so many service workers and then farmed them out to foreign shores are all gone too.

I'm expecting to hear bad news any day now from Catepillar - construction. Even the emerging economies slowing, bound to effect them.
258. Thanks. Yes, I've been a Neil fan an awful long time.
...yup, woke up this morning - upside down!



Bankers watch as Sweden goes negative

For a world first, the announcement came with remarkably little fanfare.

But last month, the Swedish Riksbank entered uncharted territory when it became the world’s first central bank to introduce negative interest rates on bank deposits.



...this is a month old! Hhhhhmm.
# 265
I think related in a good way.
There is a local business called Home Tech.
They repair home appliances including air conditioning Dish washers etc.
They train employees to work for them.
When people cant afford to buy new appliances they want cheap repairs.
They normally have one hiring/training session per year.
Last year they had two sessions.
This year they are having 4 opening classes.
The business has increased by 20%.
Interesting!
New sales down 10 to 30%
Repair up 20%
Quoting spathy:
# 265
I think related in a good way.
There is a local business called Home Tech.
They repair home appliances including air conditioning Dish washers etc.
They train employees to work for them.
When people cant afford to buy new appliances they want cheap repairs.
They normally have one hiring/training session per year.
Last year they had two sessions.
This year they are having 4 opening classes.
The business has increased by 20%.
Interesting!
New sales down 10 to 30%
Repair up 20%



Good point, spathy. Recently, dropped the phone and broke it. New model coming out, but not available yet. Suggested I try the "cellular surgeon" - presto, back in biz for $16 bucks - AMAZING. Same deal - ph companies laying techs off, and they are finding a niche - true capitalism. Same thing would have happened with the bad banks - they should have let them fail. Good ones, with good practices or new ones would have stepped up and filled the void.

All the Fed and the govt is doing now is trying to fill holes - holes where money once was. And, with a contracting economy all they can do is keep throwing money in the holes. They can't right the ship that way. The only thing that can reverse contraction is expansion - and not psuedo govt expansion.

Govt can not create wealth - it can only redistribute it.

Yet, no one - and I mean NO ONE is talking about measures, incentives to create jobs!
Interesting video...seem to be only able to post the link.Link
268, MLC, remember they gave up rich non-tax paying folks recently. That will change things for them. LoL


Edit, wrong country, ouch! They both started with Sw - LoL

Swiss Negotiator for UBS Says IRS May Seek More Data (Update1)



Does anyone remember Tom Sawyer !





Though his mind is not for rent, don't put him down as arrogant~~~~~~~
yea!!!
You think if my mortgage bank went bust.
Boom suddenly I would not owe my house payment?
No another bank would buy it up.
If (which I am) I am a good loan bet then after a few months I could shop rates.
When gov. buys my loan then other banks feel their posterior is covered and that separates rates from market reality.
Setting up the same gov. mess that helped get us here in the first place!


Let them fail!!!
Let the savvy penny pinching prosperous company come in and bring us into the future sound form of capitalism.
I am not the best financial genius there ever was but the history of this practice has been repeatedly proven to be sound.(minus Gov fixes!)
Does anyone remember Tom Sawyer !

Yup, and Huck too! ;)

...again, good stuff, Oss. Thanks.
Oss
Town hall vocalists minds are not for rent!
But the Socialist wants to portray them as arrogant mobs.
Sad but not unexpected ploy:(

From Oss post
Though his mind is not for rent, don't put him down as arrogant~~~~~~~
Quoting conchygirl:
Interesting video...seem to be only able to post the link.Link


CG, thanks. That went straight to the top of the header! Appreciate that post! Look forward to the rest of it!

There's a blog coming, but for now, for a few days we'll have to coast on this one - such as it is! :)
272. Ossqss 9:14 PM CDT on August 27, 2009
268, MLC, remember they gave up rich non-tax paying folks recently. That will change things for them. LoL



....I guess Grand Cayman is really revving up then!
Quoting spathy:
Oss
Town hall vocalists minds are not for rent!
But the Socialist wants to portray them as arrogant mobs.
Sad but not unexpected ploy:(

From Oss post
Though his mind is not for rent, don't put him down as arrogant~~~~~~~



Exactly ! We will be heard or herded. It is our choice, ultimately !

Make it so folks!
Conchy!
I want to keep my pitchfork aimed at the poll booth.
That crud scares me to the hills.
Let me focus on the individual eminent programs.
I know the picture is way bigger than I can follow.
Please can I have my head partially in the sand?

Ref #271
Watch the dollar. There will be more visits to Abdullah.
Quoting moonlightcowboy:
272. Ossqss 9:14 PM CDT on August 27, 2009
268, MLC, remember they gave up rich non-tax paying folks recently. That will change things for them. LoL



....I guess Grand Cayman is really revving up then!



It's only the beginning for Cayman, only just a start! One for the ditch if you will ! out >


Oh Gosh now I feel really guilty.
I only have 3 days of vacation left.
I was saving them in case there was a cane here and I was out of work for a few days.
I want sooo badly to go back to my hometown for 912
I have tried to find a three day buss to DC via the face book and 912 projects. But I do not understand how to reach the real reformers. I just seem to find fluff!
Any help?
U.S. moves toward formal cut off of aid to Honduras

WASHINGTON, Aug 27 (Reuters) - U.S. State Department staff have recommended that the ouster of Honduran President Manuel Zelaya be declared a "military coup," a U.S. official said on Thursday, a step that could cut off as much as $150 million in U.S. funding to the impoverished Central American nation.

The official, who spoke on condition he not be named, said State Department staff had made such a recommendation to U.S. Secretary of State Hillary Clinton, who has yet to make a decision on the matter although one was likely soon.





This is soooooooooooooo wrong! And, it will show the salt of Billary vs this administration! I think we see where we are headed here - Honduras is letting us know. I hope we are paying attention!
Quoting spathy:
Any help?


sebastionjer can you give some ideas, I'm fairly certain.
...Tommy used to work on the docks




...Living On A Prayer! :)





Have a good sleep, all! TGIF tomorrow! :)

MLC <---------------------out for some shut-eye!
Thanks MLC.
Thats where I found much about 912.
I guess I should not give up.
Will go back and try again next Wed my one day off.
I joined the facebook info and others. All I get is responses from horny girls who think I am cute or sexy.
If they were heading to DC I might suffer it.
...one last one! Fitting for 912 - When Love Comes To Town!

Bankers watch as Sweden goes negative

For a world first, the announcement came with remarkably little fanfare. But last month, the Swedish Riksbank entered uncharted territory when it became the world's first central bank to introduce negative interest rates on bank deposits.



Is this the "spark" of expansion - finally away from contraction? Forcing private investment elsewhere? Markets? Other investments? I guess the banks have filled from the helicopter drops and they just don't feel like making any more money! Isn't that like paying an employer to let you work? Ain't happening! LOL.

...more trouble ------------------> straight ahead!
Negative interest...What a novel idea...I'm sure the banks here will quickly follow suit...
Quoting ajcamsmom2:
Negative interest...What a novel idea...I'm sure the banks here will quickly follow suit...


This could be a blessing - finally, the true capitalists will ultimately show these clowns what it's all about - it's always about jobs!

How many times does it need repeating? Government does not creat wealth! No government ever has! Ever! They only steal wealth and redistribute it self-servingly and even that runs out as it has been proven over and over and over throughout history.

This is not a time to be timid - this is a time to speak up and be heard; otherwise, any of us, our country, that have been a beacon of freedom to the world will forever perish and servitude will be all that remains.
Quoting charlesimages:
Hi


Hey, CI! Glad to see you! God bless.

...of course, I knew this by Seger (showing my age), but thought you might appreciate that I do listen to other music. Hope all is well and getting better with you, friend.

I'm way up past and gotta go - we'll catch up soon! Take care!

Thanks buddy =)

Hey great song!! I hope that is the censored version of that video, one of them has err.. dirty images in it.. not like I mind.. but I
Don't want ya getting banned! *watches the video*

METALLICA ROCKS =D

G'night dude take it eazy
OK, I know you will all probably think I'm a moron, but what is the reference to 9/12? Is there something happenning that I have not yet heard about?
Quoting MidWestChaser:
OK, I know you will all probably think I'm a moron, but what is the reference to 9/12? Is there something happenning that I have not yet heard about?


It's in the header.

OK, I get no response, I guess it's a REALLY stupid question.
The answer probably lies in one/some of the links, pics or videos, but since I am reading from work, those are all blocked.
Quoting MidWestChaser:
OK, I get no response, I guess it's a REALLY stupid question.
The answer probably lies in one/some of the links, pics or videos, but since I am reading from work, those are all blocked.


see #300
I saw, you posted as I was posting and came out on top, making me look even dumber.
I'll just check i out when I get home to see what it is.
MWC, you have WUMAIL! :)

Morning MLC...I was going to post the article about the State Dept staff suggesting Clinton pull aid from Honduras.

I've already sent an email. UGH.
Quoting homegirl:
...I was going to post the article about the State Dept staff suggesting Clinton pull aid from Honduras.

I've already sent an email. UGH.


G'morning HG! Happy TGIF! And, yes, the US is really messing up with the Honduran people!
Comic Wisdom?

Link
This made me chuckle: Not that they're taxed, but that they're SUPRISED. lol

Link
Bill would give president emergency control of Internet

Internet companies and civil liberties groups were alarmed this spring when a U.S. Senate bill proposed handing the White House the power to disconnect private-sector computers from the Internet.


WTH??????

Am I mistaken or does this sound a little like what Iran did during their election protests?

I can only imagine what would be said by the media if Bush tried this.....
Quoting MachoNachoSupreme:
Bill would give president emergency control of Internet

Internet companies and civil liberties groups were alarmed this spring when a U.S. Senate bill proposed handing the White House the power to disconnect private-sector computers from the Internet.


WTH??????

Am I mistaken or does this sound a little like what Iran did during their election protests?

I can only imagine what would be said by the media if Bush tried this.....


It's simply time to kick the SOBs out - I'm sick of all this mess! Kick 'em out, everyone!
im not buying it
Tell me is the race card still working on the rest of you? Cause it isnt working on me.

LA Rep: ObamaCare Opponents Want to Destroy %u2018First President Who Looks Like Me%u2019.


img src="" alt="" />

Sorry if I completly ignore this womans "racist" comments as the race card is expected and the norm when dealing with the unimaginitve hard left.

By bigger problem is her comments about Fidel Castro, and her praise of his health care system. Look I admit I dont know the first thing about Fidel Castros health care system nor do I care. But I dont care how good it is, his people barely get enought to eat based off the food rationing the government doles out.

If Cuba is the shinning city on the hill that we need to become more like as this woman suggests, why the heck would people be crossing the gulfstream in an intertube to escape the place?

It is the anti capitalist comments like this makes me against her......it has nothing to do with her color I am done with disclaimers when it comes to race.

Call me what ever you like I will just stick to the facts.

Fact this woman is prasing a communist dictator as ground for passing US legislation. And comparing our president to Castro and encouraging him to be more like him and the communist movement.

SICK!
A US elected congresswoman Rep. Diane Watson [D] said the following.

"Fidel Castro one of the brightest leaders I have ever met."

"The Cuban revalution that kicked out the wealthly was lead by Che Gueverra, then after they found a leader in Fidel Castro an attorney."

Disgusting.
on that note

To appreciate this picture you need to know a little background.
First it is the premier teaching hospital in all of Cuba
Antonio Luaces Iraola Teaching Hospital

Several times a year they host doctors from all over the world to come and teach.
We send teams of doctors from the U.S. there to teach.

This is a picture of the orthopedic ward at the Ciego de Ávila Hospital.
In Cuba, medical treatment is very conservative. Almost every patient is put on
antibiotics when they are admitted to the hospital. The typical hospital stay for a
given patient is two weeks.

Medical treatment is limited; however, it is free in Cuba!

Lat.#313
Looks like they are getting what they pay for.
put on my slippers walked in the kitchen and died...and oh what a feeling......
Be ready for the HC push ! It's comin ===

Remember, this flu is to affect the healthy and younger folks! A big chunk of the uninsured in America fit that category.

Did ya ever see the show "Scare Tactics" ?

It deserves respect, but not panic !

I just don't like it period. I smell more to the story here. Just my take on a beverage break. :]

H1N1 flu found in birds


WHO Warns Of Severe Form Of Swine Flu


Quote== Saving these lives depends on highly specialized and demanding care in intensive care units, usually with long and costly stays == Unquote -- do ya think you will get that with the new plan?

Can you see this in our future ? LoL




Make no mistake, there is much more at play than meets the eye with our current government!
Quoting spathy:
Lat.#313
Looks like they are getting what they pay for.


LMFAOROFLOL......man spathy thank you I really needed a stress buster laugh :) Thank you *serious*

Like I said i know nothing about Cubas health care.....but I know enough about "Cuba" to know we dont need "Cuban heathcare", nor do we need a leader like "Castro".

To say I am less than flattered to hear a US congresswoman say "Castro was on of the BRIGHTEST leaders she ever meet" would be an understatment.

I cant begin to tell you how much it sadness me to hear that, but thanks for the laugh Spathy and the info Lat.

With people like Watson in charge I'm expecting a robust economic recovery next week! Totally NOT awesome! What a freak!
Six about this quote.
"US congresswoman say "Castro was on of the BRIGHTEST leaders she ever meet"

That does not surprise me with the company she probably keeps!
What is the comparison? Pelosi? Reed?
...You woke up this morning the world turned upside down,

...and speaking of upside down, FatMouth Frank says HR1207 (Ron Paul's bill) to audit the Federal Reserve will pass in the House in October.




...who'd have thunk it - Frank says something, finally, that I might like to hear!
MLC #320 wow that's hard to believe that was Barney, frankly!
The kicker though for Fatmouth Frank is that he wants a new gov't agency for which he can have control over lobbying power - the new Consumer Protection Agency which will strip those powers from the Fed.

I wonder who will be conducting the audit? Frank? God bless, Paul, but this will only be smoke and mirrors if Fatmouth is involved in its passage. For Frank, there is always, an alaterior motive. Haven't you seen where Frank has been being entertained by Bernanke? Other folks from Sachs? The Fed has their bases covered with Fatmouth!
...You woke up this morning the world turned upside down

...more green shoots? And, just when we thought things might be "cooling" off a bit! Go figure!


Whirlpool to shut Indiana plant, cut 1,100 jobs

SAN FRANCISCO (MarketWatch) -- Whirlpool Corp. announced Friday it will close its Evansville, Ind., factory next year, moving the plant's production of top-freezer refrigerators to a facility in Mexico.

Citing the need to trim manufacturing capacity, Whirlpool said the mid-2010 plant closure will eliminate 1,100 full-time jobs.

Whirlpool (WHR 66.11, +1.57, +2.43%) , like most manufacturers, has seen its sales slump
over the past year as a global economic recession and housing market slump hurt demand for home appliances. Whirlpool's latest revenue numbers show sales in the second quarter fell 18% to $4.17 billion from the second quarter of 2008.

Closing the Evansville plant is part of Whirlpool's ongoing drive to consolidate its North American manufacturing operations.

The company said it is also considering relocating its Evansville refrigeration product development center, a move that would affect another 300 jobs. "A decision is expected in the near future," the company said.
Quoting spathy:
MLC #320 wow that's hard to believe that was Barney, frankly!


Thanks again Spathy, you are on a roll tonight!:)
Ahh of course Frank wants to stick his foot in Bernanke. I mean the door of the fed.
Quoting Ossqss:
Be ready for the HC push ! It's comin'...



No doubt about it and with much haste and vitriol!
The weak dollar is pushing energy prices higher

LONDON (AP) - The effect of the weak dollar is again pushing oil prices higher in the face of little demand for energy and huge surpluses of crude.
On Friday, the dollar again fell against major currencies.

Since March, the dollar index, which weighs the U.S. currency against a basket of foreign currencies like the euro, the Japanese yen, the pound and the Swiss franc, has fallen nearly 12 percent. In that same period, crude has jumped 81 percent.

The widening gap between the value of a dollar and that of a barrel of oil shows just how much oil-based index funds have come to affect the prices that consumers pay for energy.

Benchmark crude for October delivery rose 81 cents to $73.30 on the New York Mercantile Exchange. Oil prices earlier this week hit $75, a high for the year.

Oil prices are threatening to hit new highs in a week when the government reported that more unused crude is being placed into storage. The U.S. is also nearing the end of the driving season, when demand generally falls.

Demand for gasoline is already weaker than it was last year, even though right now it costs a dollar less to buy every gallon.

Overnight, retail gasoline fell nearly a penny to $2.613. That's a dime more than gas cost a month ago, largely because of refineries have cut production to match falling demand.

It is difficult to predict how long oil prices can remain at current levels when so little of it is being used. Yet value of a barrel of oil will likely remain elevated as long as investors are skittish about the health of banks and other businesses.




Is this why my beer prices are going up???
California "state taxes" going up because of deflation

California taxpayers just got hit with another increase in state income taxes, and it didn't require a vote from a single legislator.

In 1982, California voters approved a proposition that indexed state income tax rates to inflation. So each year, the California Franchise Tax Board adjusts tax brackets and certain deductions and credits for inflation. The annual adjustment is tied to the California Consumer Price Index, and it usually goes up. Indexing is designed to prevent people from paying higher taxes as their incomes rise proportionately with inflation. But when inflation turns negative, indexing works in reverse. Tax brackets and credits are adjusted downward. If your income remains the same, the result is a tax increase.

The Franchise Tax Board has just released adjustments for 2009, and for the first time since 1983 they are down, reflecting a 1.5 percent drop in the California Consumer Price Index between June 2008 and June 2009.

As a result, everyone's state taxes will go up by a modest amount this year. The amount will vary depending on taxpayers' income, whether they itemize deductions and how many personal exemptions and other credits they claim.



...I'll bet Aahnold has a tough time selling that "deflation" to Californians. More hidden taxes! And, there's that trick thing again - "the CPI" - watch for it. You'll be hearing more about it at the federal level. Also, I wonder which "think tank" hobbled around the 57 states selling this same "taxing made EZ software" to legislators? I'll bet California isn't the only state where state taxes are tied to CPIs in some form.
Quoting moonlightcowboy:
Watch the dollar. There will be more visits to Abdullah.


Hey, GR - yup, man this stuff just keeps getting easier to filter! Once you wade through the BS, one can actually get a more realistic feel for what is actually happening. Pity some won't open their eyes though. Shame really.
...from our friend Mish

Dual Mandate Equals Mission Impossible

Here's the deal.

1. The Fed can control money supply but it will have no control over interest rates (or anything else).

2. The Fed can control short-term interest rates, but then it would have no control over money supply (or anything else).

That is the full and complete extent of the Fed's "control". Note that neither price stability nor unemployment is in either equation. The reason is the Fed controls neither.

Sure, the Fed can increase money supply but all those who thought it would necessarily cause prices to rise sure got it wrong.

The CPI is now a negative 2.1% year over year and my preferred measure called Case-Shiller CPI is running at negative 6.2% year over year. Please see What's the Real CPI? for details.

Photobucket
The simple truth of the matter is the Fed can print money, but it cannot control where it goes, or even if it goes anywhere at all. Indeed the Fed can encourage but not force banks to lend, and encourage but not force consumers to borrow.

The result of all the recent Fed printing is a big yawn, otherwise known as excessive reserves as the following chart shows.



Excess Reserves of Depository Institutions

Does that chart look like the Fed is in control? If so, control of what?

Bear in mind that those excess reserves are a mirage. They do not really exist. Pending writeoffs in foreclosures, bankruptcies, credit cards, and especially commercial real estate will eat up those reserves and then some.

Although the Fed's "Dual Mandate" is complete nonsense, I do agree with Lockhart on one key point: The US economy will suffer with Structurally High Unemployment For A Decade.




NOTE: These extra "reserve deposits" really actually never left the FED. There in the "vault" if you will because this is not even play money, it's just fabricated digits on a computer system. The money "as such" doesn't actually exist. Additionally, and I disagree with my friend Mish here to some degree - were this actually real money physically transferred from the Fed to the banks, it would certainly encourange banks to lend more imo.


...here is one reader's review of the book. There are 34 5-Star reviews on Amazon.

We really are in uncharted waters. Never before in history has the world had a 'reserve currency' that is relatively unrestrained, with a 'master' who is willing and able to debase it to suit their policy needs, and manipulate markets in concert with their peers to prolong the situation and defeat the regulating systems of the markets, such as interest rates and exchange values.

We are in a feedback loop of mutually assured financial destruction with Asia.

We are supporting their economies by consuming their exports in a huge way, and they in turn are accepting our debt instruments (dollars) and using them to expand their own economies, as well as our own by buying our Treasuries, Corp bonds, GSE debt, and equities.

It seems like an endless round of bubbles have been created as the Fed seeks to avoid crises and keep this Ponzi scheme going, because that's exactly what the dollar is these days. Make no mistake about that.
The Dollar Crisis is divided into five parts:

Part One
describes how the US trade deficits, which now exceed US$1 million a minute, have destabilized the global economy by creating a worldwide credit bubble.

Part Two explains why these giant deficits cannot persist and why a US recession and a collapse in the value of the Dollar are unavoidable.

Part Three analyzes the extraordinarily harmful impact that the US recession and the collapse of the Dollar will have on the rest of the world.

Part Four offers original recommendations that, if implemented, would help mitigate the damage of the coming worldwide downturn and put in place the foundations for balanced and sustainable economic growth in the decades ahead.

Part Five, which has been newly added to the second edition, describes the extraordinary evolution of this crisis since the first edition was completed in September 2002. It also considers how the Dollar Crisis is likely to unfold over the years immediately ahead, the likely policy response to the crisis, and why that response cannot succeed.

The Dollar Standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st Century.
Thanks, Updog! Interesting read indeed. Yup, the Men-In-Black seem to have sure been getting around lately!






...oh, and "criminal chickens" cracked me up!
....aaahhem, Mr. Bernanke, I think we're going to need a bigger helicopter!




Greater Than One in Four FDIC Insured Institutions are Unprofitable; Bank Problem List at 15 Year High

The second quarter 2009 Quarterly Banking Profile has some interesting charts and facts that inquiring minds will be interested in.
Insured Institution Performance

- Higher Loss Provisions Lead to a $3.7 Billion Net Loss
- More Than One in Four Institutions Are Unprofitable
- Charge-Offs and Noncurrent Loans Continue to Rise
- Net Interest Margins Show Modest Improvement
- Industry Assets Decline by $238 Billion
- The Industry Posts a Net Loss for the Quarter

The Industry Posts a Net Loss for the Quarter

Burdened by costs associated with rising levels of troubled loans and falling asset values, FDIC-insured commercial banks and savings institutions reported an aggregate net loss of $3.7 billion in the second quarter of 2009. Increased expenses for bad loans were chiefly responsible for the industry’s loss. Insured institutions added $66.9 billion in loan-loss provisions to their reserves during the quarter, an increase of $16.5 billion (32.8 percent) compared to the second quarter of 2008. Quarterly earnings were also adversely affected by writedowns of asset-backed commercial paper, and by higher assessments for deposit insurance.

Almost two out of every three institutions (64.4 percent) reported lower quarterly earnings than a year ago, and more than one in four (28.3 percent) reported a net loss for the quarter. A year ago, the industry reported a quarterly profit of $4.7 billion, and fewer than one in five institutions (18 percent) were unprofitable. The average return on assets (ROA) was -0.11 percent, compared to 0.14 percent in the second quarter of 2008.
Hello people that I don't know..
Hi Chuck!
UAE Seizes North Korean Weapons Shipment to Iran (Update2)

Aug. 28 (Bloomberg) -- The United Arab Emirates has seized a ship carrying North Korean-manufactured munitions, detonators, explosives and rocket-propelled grenades bound for Iran in violation of United Nations sanctions, diplomats said.

The UAE two weeks ago notified the UN Security Council of the seizure, according to the diplomats, who spoke on condition they aren’t named because the communication hasn’t been made public. They said the ship, owned by an Australian subsidiary of a French company and sailing under a Bahamian flag, was carrying 10 containers of arms disguised as oil equipment.

The council committee that monitors enforcement of UN sanctions against North Korea wrote letters to Iran and the government in Pyongyang asking for explanations of the violation, and one to the UAE expressing appreciation for the cooperation, the envoys said. No response has been received and the UAE has unloaded the cargo, they said.

The UAE and Iranian missions to the UN didn’t immediately respond to requests for comment.




...hhhhhmmm, sure was a lot of cloaking going to disguise these 10 containers. BTW, just in case anyone isn't sure of scale - a container is a good bit bigger than a suitcase!

Like this one below from Sun. They are sized more like the containers the big truckers haul down the highway.

Hi UPW =)
Sup, Chuck? TGIF to you!
Once again, north Korea is up to more of its shenanigans. Well, at least it's not nuclear weapons. Sigh..
Thanks, and almost nothing MLC.. Talking to some people (including you now) and listening to some REO, and now Van Halen.

How are you?

Quoting moonlightcowboy:



Thanks for posting that. Yeah, I've read some things that could happen. Scary!


Yep! not long before the doodie hit's the fan.

All I have to say is AMERICA WAKE UP!!!
Quoting charlesimages:
Thanks, and almost nothing MLC.. Talking to some people (including you now) and listening to some REO, and now Van Halen.

How are you?



Sounds cool! And, thanks for asking. I'm into a bucket of black walnut ice cream tonight - no bourban...vices, go figure! And, well, posting some not so good news! UGH! :)

I wish I had some icecream.lol
Quoting moonlightcowboy:


Sounds cool! And, thanks for asking. I'm into a bucket of black walnut ice cream tonight - no bourban...vices, go figure! And, well, posting some not so good news! UGH! :)

That sounds awesome right about now. Should have bought some ice cream today =)

Not so good news huh? Yea.. a lot of that to be had these days....
Yep Chuck, there seems to be bad news everyday. Hopefully someday all the news will be good :)

However, It will be our job to make it good.
Yeah for real..

I just got linked to one of my fave songs by someone ;)

Aerosmith FTW!

August the deadliest month of the eight-year war for U.S. forces - total of 45 bigger than July's 44

KABUL — An American service member died in a bomb blast in Afghanistan on Friday, the military said, making August the deadliest month of the eight-year war for U.S. forces.

The service member's vehicle struck a roadside bomb in eastern Afghanistan, NATO forces said. U.S. forces spokeswoman Capt. Elizabeth Mathias confirmed the nationality but did not provide further details.

The death brings to 45 the number of U.S. troops who have died in Afghanistan this month, surpassing the 44 troops killed in July.

More than 60,000 U.S. troops are in Afghanistan — a record number — to fight rising insurgent violence.

Attacks typically rise in the country during the summer fighting season and U.S. officials had warned that violence was likely to increase as 21,000 additional troops poured in this summer. The forces have faced a surge in roadside bombs as they move into Taliban strongholds in the south.
Night All!

Have to get up early for breakfast at Big Boy, then it's off to the seafood fest, in the rain and gales.LOL

This could be interesting since the seafood fest is located in a large grassy area that gets large puddles when it rains. We could get over an inch of rain tomorrow with very gusty northeast winds.
Quoting upweatherdog:
Night All!

Have to get up early for breakfast at Big Boy, then it's off to the seafood fest, in the rain and gales.LOL

This could be interesting since the seafood fest is located in a large grassy area that gets large puddles when it rains. We could get over an inch of rain tomorrow with very gusty northeast winds.


Have a good sleep and enjoy the fest - take a life preserver - not for the rain, but all that seafood you're gonna enjoy! ;P
Photobucket

Iran is continuing nuclear activity, says United Nations watchdog

- Country 'fails to co-operate with energy inspectors'
- West may target foreign petroleum supplies


The UN's nuclear watchdog reported today that Iran was continuing its uranium enrichment programme in defiance of UN security council resolutions, setting the stage for possible oil and gas sanctions by the west.

In a report, the International Atomic Energy Agency (IAEA) also repeated its regular complaint that Iran was not co-operating with its inspectors over unanswered questions about evidence of efforts to militarise the programme and produce a warhead.

Despite having fewer centrifuges being used for enrichment, the output of the Natanz plant appears to be fairly steady at 2.77kg of low enriched uranium (LEU) a day. Iran now has accumulated 1,508kg of LEU. LEU is used in nuclear power reactors rather than weapons, but Iran's western critics argue it can be converted relatively easily into weapons-grade high enriched uranium.

Iran now has enough, if that was done, to make a single nuclear warhead. Therefore, Iran's critics are unlikely to see the drop in the number of functioning centrifuges as an Iranian concession.
357. Sh0cK
Quoting sixshootersully:
Piggy Back off #355

UAE seized N.Korea arms shipment bound for Iran.

UNITED NATIONS, Aug 28 (Reuters) - The United Arab Emirates has seized a cargo of North Korean weapons being shipped to Iran, which would have violated a U.N. embargo on arms exports from the communist state, Western diplomats said on Friday.

Is it too much to ask just to fight the "real bad guys?"


Already fighting a war on 2 fronts, unless you're in favor of reinstating the draft, I'd rather not start a 3rd war.

But am I the only one who finds it sad that UAE was the only one capable of catching the arms shipments?
Shock,

When I said the 'real bad guys' I ment stop charging the CIA and start letting them do thier job so a 3rd war isnt started.With N.korean and I ran hooking up, it could be nuclear.

Time to stop fighting the guys on our side (CIA) and focus in on the real problem.
359. Sh0cK
Quoting sixshootersully:
Shock,

When I said the 'real bad guys' I ment stop charging the CIA and start letting them do thier job so a 3rd war isnt started.With N.korean and I ran hooking up, it could be nuclear.

Time to stop fighting the guys on our side (CIA) and focus in on the real problem.


I agree that the terrorists and rogue states are the real enemy, but there's a lot of leftists out there that think WE'RE the enemy.
Paul Krugman: "Deficits Saved The World"

Inquiring minds are reading Till Debt Does Its Part

So new budget projections show a cumulative deficit of $9 trillion over the next decade. According to many commentators, that’s a terrifying number, requiring drastic action — in particular, of course, canceling efforts to boost the economy and calling off health care reform.

The truth is more complicated and less frightening. Right now deficits are actually helping the economy. In fact, deficits here and in other major economies saved the world from a much deeper slump. The longer-term outlook is worrying, but it’s not catastrophic.

If governments had raised taxes or slashed spending in the face of the slump, if they had refused to rescue distressed financial institutions, we could all too easily have seen a full replay of the Great Depression.

As I said, deficits saved the world.

In fact, we would be better off if governments were willing to run even larger deficits over the next year or two. The official White House forecast shows a nation stuck in purgatory for a prolonged period, with high unemployment persisting for years. If that’s at all correct — and I fear that it will be — we should be doing more, not less, to support the economy.

But what about all that debt we’re incurring? That’s a bad thing, but it’s important to have some perspective. Economists normally assess the sustainability of debt by looking at the ratio of debt to G.D.P. And while $9 trillion is a huge sum, we also have a huge economy, which means that things aren’t as scary as you might think. ....



And, here is what our friend, Mish, had to say about Krugman:

Krugman is not only a Keynesian Clown, but a hypocrite.


This is a good read by Mish - and points out the slack-jawed, two-faced, any way the wind blows psychosis of Krugman!
Rangel needs to run out of town on a fast rail!



OOPS! CHARLIE FORGOT THIS $1M HOUSE
REALTY BITES TAX-THEM-NOT-ME RANGEL


WASHINGTON -- Rep. Charles Rangel failed to report as much as $1.3 million in outside income -- including up to $1 million for a Harlem building sale -- on financial-disclosure forms he filed between 2002 and 2006, according to newly amended records.



The documents also show the embattled chairman of the Ways and Means Committee -- who is being probed by the House Ethics Committee -- failed to reveal a staggering $3 million in various business transactions over the same period.

This week, Rangel filed drastically revised financial-disclosure forms reflecting new, higher amounts of outside income and numerous additional business deals that had not been reported when the reports were originally filed.

In 2004, for instance, Rangel reported earning between $4,000 and $10,000 in outside earnings on top of his $158,100 congressional salary.

But the amended filings show that after the sale of a property on West 132nd Street, his outside income that year was somewhere between $118,000 and $1.04 million.

The forms filed by House members provide for a range of value on such transactions, so the precise number isn't publicly known.





This thug laughs at the system, at his power, his cleverness, his ability to be better than the rest of the hard-working, tax-paying electorate. The story goes on and on - you should take a few minutes and read the whole mess. This guy is a circus clown, should be expelled by the House, prosecuted and jailed.
Roubini speaks plainly -

The Exit Strategy from the Monetary and Fiscal Easing: Damned If You Do, Damned If You Don’t

In the last few months the world economy has been saved from a near depression. That feat has been achieved by a range of extraordinary government stimulus measures: In the U.S. and in China, and to a lesser extent in Europe, Japan and other countries, governments have pumped liquidity, slashed policy rates, cut taxes, primed demand and ring-fenced and back-stopped the financial system. All of this has worked, but it has worked at a cost. Governments have been spending and borrowing like never before. The question now is: how do they stop?

This is not a simple problem. Restore normality too soon and the risk is that a weak recovery will double dip into a second and deeper recession. Restore it too late and inflation will already be ingrained.
Rangel, urrrrhhhh. He is at least consistent anyhow. I await patiently the exposure of the UBS/IRS agreement. Lot's of political and hollywood knees shakin right now. LoL


Amy Goodman: Just who is Obama playing ball with?
Similar to the meeting with the CBO head prior to releasing an update?


How about a slap upside the head ! I almost wish I did not read this :(

A little, rest of the story, story.

http://www.americanbankingnews.com/2009/08/29/banks-arent-lending-consumers-arent-spending-what-rec overy/


Banks Aren%u2019t Lending, Consumers Aren%u2019t Spending %u2013 What Recovery?




364. Great read from the banking news site, Oss. Thanks. I recommend that read which clearly points out simple truths.



I wonder if Hermes was watching over "The Messiah's" backswing? ;) The poor, whistle-blower sap that has to spend 40 months in jail has to be wondering where the real justice in the world is with these two clowns on the links.
MLC, it is scary to see the facts and truths and then look at what people are being fed. Being optimistic is a good thing, but not blindly. Just my take. Hunker down and wait it out.


I wish more companies and governments followed this simple philosophy ; ]

"We lived within our means and conserved ourselves," Mr. Dalquist says of the privately held company. "Now we're in a position to take advantage of these difficult times."

Halting Recovery Divides America in Two


Many Americans are becoming NUMB with the POTUS !




Oss, I rarely watch television anymore. If it happens to be on when I pass through the room I may watch some news if it's on at the time. It's just not there anymore - occasionally, there may be something newsworthy or certainly if there is some sort of tragic/disaster unfolding when there are 100s of cameras on the event. I am completely done with the incessant ObamaTV!

Other than that I may watch Animal Planet or TVLand - I've got a few sitcoms I like to watch. Some are old reruns.

I get my news here, on the web. I've a number of sites I check, nearly daily, and I've alerts I've set up for information as well. Plus, over the past year, believe it or not, many people will send me information as they find it as well. Often these people won't post, but feel it may be something of interest and leave it up to me to post - and, I appreciate that. Some of it gets in - some not, but by and large it's all good information.

I truly believe that since I've basically quit following the MSM outlets that I'm consistently better informed. However, I do think I need to make a trip to the eye doctor! ;)
Truth is, in most cases, by the time I see a newcast or read a paper, I've ususally already read about it from the web. Not always, but more often than not.
Here's another kick in the head for us! Knew there was way more to this than just a "release because of his health" or maybe that was just the cover story for this! If the man is dying, maybe the British felt like they could get something for it, beforehand. Still, dirty politics - and, it doesn't surprise me at all. I'm sure there was some good money passed around as well.




Lockerbie bomber 'set free for oil'

The British government decided it was "in the overwhelming interests of the United Kingdom" to make Abdelbaset Ali Mohmed al-Megrahi, the Lockerbie bomber, eligible for return to Libya, leaked ministerial letters reveal.

Gordon Brown's government made the decision after discussions between Libya and BP over a multi-million-pound oil exploration deal had hit difficulties. These were resolved soon afterwards.

The letters were sent two years ago by Jack Straw, the justice secretary, to Kenny MacAskill, his counterpart in Scotland, who has been widely criticised for taking the formal decision to permit Megrahi's release. The correspondence makes it plain that the key decision to include Megrahi in a deal with Libya to allow prisoners to return home was, in fact, taken in London for British national interests.

Edward Davey, the Liberal Democrat foreign affairs spokesman, said: "This is the strongest evidence yet that the British government has been involved for a long time in talks over al-Megrahi in which commercial considerations have been central to their thinking."

Two letters dated five months apart show that Straw initially intended to exclude Megrahi from a prisoner transfer agreement with Colonel Muammar Gadaffi, under which British and Libyan prisoners could serve out their sentences in their home country. In a letter dated July 26, 2007, Straw said he favoured an option to leave out Megrahi by stipulating that any prisoners convicted before a specified date would not be considered for transfer.

Downing Street had also said Megrahi would not be included under the agreement. Straw then switched his position as Libya used its deal with BP as a bargaining chip to insist the Lockerbie bomber was included. The exploration deal for oil and gas, potentially worth up to 15 billion (pounds), was announced in May 2007. Six months later the agreement was still waiting to be ratified.

....In a letter leaked by a Whitehall source, he wrote: "I had previously accepted the importance of the al-Megrahi issue to Scotland and said I would try to get an exclusion for him on the face of the agreement. I have not been able to secure an explicit exclusion."
REPLAY

Invisible Sun...


368, I hear ya. I am a watcher of the science channel and educational channels at random. I must say the - how its made, and dirty jobs shows do sometimes get my attention. . .

I consider them educational and benefit from what I see.

News channels, I just pulse them to see what is on the menu that day. LoL

and L8R --




Humm, mushrooms, kept in the dark and fed, well, you know :) Sounds familiar !

- Cav, good tune. Thanks.

- Oss, interesting. Thanks, too! :)


Have a good sleep, all.
..."You woke up this morning the world turned upside down,
Thing's ain't been the same since the Blues walked into town."