I’m with Glenn Reynolds and Rick Moran here; this stuff here is a whole mess of ugly. šÆ
David Stockman’s book:
Category: economy
Videos: The Secret History of the Global Financial Collapse
This is from 2010, but I just discovered it. It is very good. It is a 4 part series. I highly recommend it.
This is what happens when Democrats destroy an economy.
People getĀ desperate:
Stay classy, Atlanta burglars.
Last month, thieves reportedly stole more than $250,000 worth of equipment from a warehouse northwest of the city, the Atlanta Journal-Constitution reports. The building was being used to film “Anchorman 2: The Legend Continues” — a sequel to the 2004 comedy “Anchorman,” starring Will Ferrell and Christina Applegate.
The building’s owner, Davis Nort, told authorities that $300,000 worth of copper wiring had been stripped from the building. The suspects also made off with four Apple computers.
“It’s a shame this happened,” Nort told WSBTV, “because Atlanta is really trying to get big in the film industry.”
via ‘Anchorman 2’ Set Burglarized In Northwest AtlantaĀ Huffington Post.
The plain truth is that the Democrats under Bill Clinton passed theĀ sub-prime clause to the Community Reinvestment Act of 1973, in 1994. Clinton alsoĀ repealed theĀ GlassāSteagall Act. This caused anĀ economicĀ bubble andĀ destroyed our economy. To be fair, the Republicans did not help matters either, when they removed a good deal of regulation from the SEC on loans and loan companies. Ā This only made things worse from the standpoint of how bad and big the bubble became.
When bubblesĀ collapse like this one has, people become unemployed and people getĀ desperate and when they do, they begin to steal. The ironic thing here is that the very polices that got us into this whole mess, which were passed in the 1990’s by the Democrats, are the very same one’s that the Democrats are advocating for now and are supported by people like Huffington Post and its owner.
Trickle down recession
This is what happens when Washington DC scares the living crap out of everyone:
SINGAPORE: Oil prices fell in Asian trade today on signs of weaker US energy demand and as positions hardened in a fiscal showdown in Washington that could push the world’s biggest economy back into recession.
New York’s main contract, light sweet crude for delivery in January was down 16 cents to USD 87.72 a barrel in the morning and Brent North Sea crude for January shed nine cents to USD 108.72.
A weekly US government report released yesterday showed a surge in supplies of gasoline and other products, indicating softer demand in the world’s biggest oil consuming nation.
The supplies of distillates, which include diesel and heating fuel that are closely watched at the onset of winter, rose by three million barrels, while gasoline inventories leaped by 7.9 million barrels, five times more than forecast.
“Oil prices fell… after data showed a huge increase in gasoline stockpiles in the United States last week,” Phillip Futures said in a market commentary.
The political impasse in Washington over avoiding mandatory fiscal cliff of tax increases and spending cuts in January that may toss the US economy back into recession was casting a cloud on sentiment.
This is what happens when you scare the living crap out of everyone with a chicken match. If you are invested in oil, get out while you can. On the other hand, gas prices are going to come down and for we middle class, that is a very good thing. But, for those in the market, it sucks. Good time to get out of futures and get into gold or something.
Oh yes, and the Democrats are owning this one too.
This pretty much sums it up
I know I said that I would not be linking to this guy anymore. I have reversed this decision. If Israel wants to be stupid, then they should expect derision from people like this man here.
Anyhow, this pretty much sums up my opinion of the Republican establishment:
The Republicans in the House are largely more conservative than at any time since Wilson left office. One would expect them to understand the intent of the voters who sent them there and thus say no to more taxes, no to more spending and no to more borrowing. Instead, we have Republican leadership in the House that actually proposed raising more revenue by eliminating deductions on income taxes. They somehow claim that they are being faithful to their stated mission of fiscal conservatism by making you pay more money but at the present tax rates. They, too, have failed economics 101.
Any significant movement of wealth from taxpayers to tax consumers will not enhance prosperity; it will crush it, and it will breed dependence on a government that is fiscally out of control. The recipients will no doubt vote to re-elect those who gave them these payments.
Amen and Amen. Big Government sucks and taxing the job creators is beyond stupid. If the GOP plays surrender monkey on this; you can kiss that party goodbye. Because the grassroots will not vote for a party that says one thing and does another.
I will also say this: If the Republican Party thinks for one lousy second that the Tea Party is dead and that the movement has ended, they will beĀ in for a huge shock come 2014. I believe that there wellĀ a huge ground swell of voter discontent come 2014, especially after when taxes go up on small businesses.
So, if the GOP wants to cave on this; feel free — but the clock is ticking and you have basically blown through your political capital, Mr. Boehner. If you believe that punishing true Conservatives is going to do you any good. Think again. Oh, it will help you on the short-term, so that you can play nice with the President. But, in the long-term, you are toast. You will be out of job, because I tend to believe that the Republican grassroots and the Conservative grassroots —- you know, those who actually vote for you? — are not going to stand for this at all.
Mildly Interesting.
Some seriously good stuff here, go read it:
Exactly two years ago, some of the more politically biased progressive media outlets (who are quite adept at creating and taking down their own strawmen arguments, if not quite as adept at using an abacus, let alone a calculator) took offense at our article “In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year.” In it we merely explained what has become the painful reality in America: for increasingly more it is now more lucrative – in the form of actual disposable income – to sit, do nothing, and collect various welfare entitlements, than to work. This is graphically, and very painfully confirmed, in the below chart from Gary Alexander, Secretary of Public Welfare, Commonwealth of Pennsylvania (a state best known for its broke capital Harrisburg). As quantitied, and explained by Alexander, “the single mom is better off earnings gross income of $29,000 with $57,327 in net income & benefits than to earn gross income of $69,000 with net income and benefits of $57,045.”
via When Work Is Punished: The Tragedy Of America’s Welfare State | ZeroHedge.
Unbelievable what they’re doing to us. So sad. š
Please be sure to go read the rest of that.
Others:Ā JustOneMinute,Ā Instapundit,Ā Power Line,Ā LeĀ·gal InĀ·surĀ·recĀ· tion,Ā American Power,Ā The PJ Tatler,The Lonely Conservative,Ā Wake up America,Ā Scared Monkeys,Ā americanthinker.com,Ā The Gateway Pundit,Moonbattery,Ā Weasel ZippersĀ andĀ UrbanGrounds
The Hope and The Change: Restaurant Performance Index declined in September
All a part of The Hope and The Change that the President promised us.
CalculatedĀ Risk blog reports the following:
The RPI ā a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry ā stood at 100.4 in September, down 0.3 percent from August. Despite the decline, September represented the 11th consecutive month that the RPI stood above 100, which signifies continued expansion in the index of key industry indicators.
āAlthough restaurant operators reported softer same-store sales and customer traffic levels in September, they are somewhat more bullish about sales growth in the months ahead,ā said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. āForty-five percent of restaurant operators expect their sales to improve in the next six months, while only 11 percent expect weaker sales.ā
The Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), stood at 99.9 in September ā down 0.7 percent from a level of 100.6 in August. Although same-store sales remained positive in September, the softness in the labor and customer traffic indicators outweighed the performance, which led to a Current Situation Index reading below 100 for the second time in the last three months.
Here is the chart:
So, what does this have to do with Obama? Plenty. When you promise a better economy, and then, you spent 16 trillion-dollar on recovery that does not work and then you hike taxes on businesses and the middle class and above stop eating out, because of a President, who is more interested in taking trips and living it up, instead of actually running the Country. This is what happens, businesses suffer, and that includesĀ Restaurants.Ā Restaurants likeĀ Gallagher’s in New York, which survived the depression, but could not survive thisĀ economic downturn.
This is why we need to vote different in 2012; Are you unemployed? Are you feeling the pinch, like many Americans? This is why, when anĀ economy gets depressed like this; this is what happens,Ā restaurants and other businesses take the hit. Housing MarketĀ collapses, stock market tumbles, then theĀ Economy drops. Then, the Government tries to print more money to fix it; and then everything you buy goes up. It is a vicious cycle and the only way to stop it, is to get the people out of power that caused it. This is why we have to vote for Mitt Romney. Memo to my Democratic Party friends: George W. Bush did NOT cause this mess. Bill Clinton did! Because of this, we are ALL feeling the pinch.
We need new leadership, and that is why we need Mitt Romney to be President of the United States.
Video: CBN NewsWatch: October 24, 2012
On CBN Newswatch, Oct. 24:
- On the campaign trail
- Catholic vote not as cut and dry for candidates
- Ind. Senate candidate standing by rape remarks
- Monster energy drink blamed for five deaths
- ā¦.and more.
Trade Deficit is still high, now at $44.2 Billion
Here is hoping that Mitt Romney does do something about China. There are many doubters on that; But I am holding out hope.
The Department of Commerce reported:
[T]otal August exports of $181.3 billion and imports of $225.5 billion resulted in a goods and services deficit of $44.2 billion, up from $42.5 billion in July, revised. August exports were $1.9 billion less than July exports of $183.2 billion. August imports were $0.2 billion less than July imports of $225.7 billion.
June was revised from $42.0 billion. The trade deficit was larger than the consensus forecast of $44.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through July 2012.
via Calculated Risk: Trade Deficit increased in August to $44.2 Billion.
Take a look at the charts:
Again, I say; we’re getting hosed. It is time for a trade reform.
Chart: Obama’s Spending versus Bush
It is an updated one, via InstaPundit. Show this to Democrats when they try to blame our budget problems on Bush’s wars. This will prove that they are, as always; full of crap.
