Free Republic

It is interesting to note that while the unemployment rate has been falling, currently at 7.3%, it has not been because of a strongly increasing workforce. Rather it has been a function of people leaving the workforce. This, of course, brings up the obvious question of how these people are live if they aren't working. A recent trip to Walmart answered that question. As I was standing in line, with an assortment of items on my "back to school" shopping list, there was a Hispanic gentleman in front of me with two shopping carts full of groceries and other items....

The Norwegian Nobel Committee has decided that the Nobel Peace Prize for 2009 is to be awarded to President Barack Obama for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples. The Committee has attached special importance to Obama's vision of and work for a world without nuclear weapons. Obama has as President created a new climate in international politics. Multilateral diplomacy has regained a central position, with emphasis on the role that the United Nations and other international institutions can play. Dialogue and negotiations are preferred as instruments for resolving even the most difficult international conflicts. The...

Facts are stubborn things. No matter how hard the Washington crowd tries to sell an economic recovery, inconvenient and contrary facts keep rearing up to shatter their mythmaking. Few people any longer believe the claims of declining unemployment or low inflation at least based on purchases they make. The fable of a housing recovery is now crumbling: New Home Sales Plunge 13.4% in July, June Revised Lower; Blame Rising Mortgage Rates; Starts 896,000 – Sales 394,000. Two weeks ago, the same author (Mish) provided this article: Mortgage Applications Decline 13th Time in 15 Weeks; Are Mortgage Rates Cheap? What’s Next...

Louisiana tops the nation's list of "improper" payments for unemployment insurance with a 3-year rate of 38.67%. Of course, this is the "improper" payments they know about (as only 29.7% of overpayments have been recovered). A stunning 28% of Louisanans who claimed benefits did so even after returning to work. However, while the Louisiana data points are bad, they are not alone. As the chart below shows... 16 states have "improper" payment rates of over 14%. One wonders why the world doesn't trust the US so much anymore? The data below - from the Department of Labor, is from estimates...

Wells Fargo & Co, the largest mortgage lender in the United States, will cut 2,300 jobs in its home loan business because fewer customers are refinancing as interest rates rise, according to an internal memo reviewed by Reuters. The cuts would represent around 3.3 percent of the bank's consumer lending employees, the bank said. Although the bank does not disclose how many of its staff work in home loans specifically, Wells Fargo had over 11,000 mortgage loan officers on its payroll at the end of March. Mortgage refinancing made up more than 70 percent of U.S. home lending volume in...

Barack Obama has been running around the country taking credit for an "economic recovery", but the truth is that things have not gotten better under Obama. Compared to when he first took office, a smaller percentage of the working age population is employed, the quality of our jobs has declined substantially and the middle class has been absolutely shredded. If we are really in the middle of an "economic recovery", why is the homeownership rate the lowest that it has been in 18 years? Why has the number of Americans on food stamps increased by nearly 50 percent while Obama...

Barack Obama wanted to fundamentally change America. He is. The Obamacare law is already destroying full-time jobs in America. Democrats rammed through a law that will destroy at least 2 percent of all full-time jobs in America. We are already seeing jobs disappear. Even Reuters can’t hide the truth any longer: U.S. businesses are hiring at a robust rate. The only problem is that three out of four of the nearly 1 million hires this year are part-time and many of the jobs are low-paid. Faltering economic growth at home and abroad and concern that President Barack Obama’s signature health...

The latest casualty of Obamacare may be a low-cost New Jersey health-care policy. Though President Obama promised “if you like your health care plan, you’ll be able to keep your health care plan, period,” that will not be the case for approximately 106,000 New Jersey residents whose plans will disappear under the law.Known as the “basic and essential,” or B&E, health-care plans, the policy costs as little as a couple hundred dollars per month and is the choice of 71 percent of New Jersey residents on the individual insurance market. It provides minimum coverage for things such as doctor’s visits...

Something funny happened on the road to the epic consumer balance sheet cleansing and subsequent releveraging (without which there can be no actual non-Fed sugar high fueled recovery): the second quarter. And specifically, as the Fed just disclosed in its quarterly Household Debt and Credit Report, the number of consumer bankruptcies during the second quarter, just jumped by 71K, to 380K from 309K in Q1, the biggest quarterly jump in precisely three years - on both an absolute and relative basis - and the most since the 158K jump recorded in Q2 2010. It appears that when the "releveraging" US...

Despite consumer confidence at a six-year high, the latest AP survey of the real America shows a stunning four out of five U.S. adults struggle with joblessness, are near poverty, or rely on welfare for at least parts of their lives amid signs of deteriorating economic security and an elusive American dream. Hardship is particularly on the rise among whites, based on several measures. Pessimism among whites about their families' economic futures has climbed to the highest point since at least 1987. "Poverty is no longer an issue of 'them', it's an issue of 'us'," as 'the invisible poor' -...

Change.gov, the website created by the Obama transition team in 2008, has effectively disappeared sometime over the last month. While the front splash page for Change.gov has linked to the main White House website for years, until recently, you could still continue on to see the materials and agenda laid out by the administration. This was a particularly helpful resource for those looking to compare Obama's performance in office against his vision for reform, laid out in detail on Change.gov. According to the Internet Archive, the last time that content (beyond the splash page) was available was June 8th --...

Newsroom layoffs at The Oregonian have topped 35 reporters, editors and photographers today as the paper reduces home-delivery days and cuts staff. Among the more prominent names WW has confirmed The Oregonian has laid off are editorial columnist David Sarasohn, environmental reporter Scott Learn, and Multnomah County reporter Dana Tims. Many staffers have begun posting their own layoff announcements on the web. Sports reporter John Hunt wrote this morning on Twitter that he is flying home after being laid off with a phone call in Omaha, Neb., where he was covering the Oregon State Beavers baseball team in the College...

There was a time when Obama couldn’t get a bad headline in this town. Now he’s the new Nixon. I dropped out of writing about US politics three weeks ago to finish a book and, on my return, I discover that everything’s changed. The President has been hit not by one Watergate but by three—Benghazi, the IRS, the DOJ phone records scandal—and even the mainstream media has stopped treating him like the bringer of hope and change predicted in the Bible. He's not a Messiah; he's a very naughty boy. It’s important to remember that Obama’s second term blues began...

Today’s Morning Jolt is jam-packed, as it is a special ALL-SCANDAL edition! SCANDAL ONE: Dear Media: Obama’s Indignant Benghazi Response Revealed a Lot Yesterday! Dear friends in the media. Come on. I mean, come on. You and I know what’s going with the Benghazi thing. Let me share something that I first put into play during the “was Anthony Weiner’s Twitter account hacked” debate, but that comes from watching the Lewinsky scandal, the where-did –Mark-Sanford-go scandal, the why-is-David-Wu-dressed-in-a-tiger-suit scandal, and a wide variety of wrongdoing committed by politicians: When there is evidence of scandalous or bizarre behavior on the part...

Kurt Schlichter notes that conservatives have been vindicated quite often in the past several weeks: Kurt Schlichter @KurtSchlichter Things Conservatives Have Been Proven Right About Lately: ☑ Benghazi; ☑ Pigford;☑ Obamacare; ☑ IRS. Next up: The immigration reform scam. 6:43 PM - 10 May 2013 357 Retweets 90 favorites I suspect that list will grow longer. The common thread in each of these scandals is corruption and a willingness to abuse the expanded powers of big government--while failing to carry out the most basic responsibilities of any government. In Benghazi, Obama a) failed to take action to save American diplomats...

A distraught mother as told how she pleaded with young robbers to spare her toddler's life before they shot him dead as he slept in his stroller. Sherry West was pushing her 13-month-old son Antonio yards from their home in Brunswick, Georgia, early yesterday morning when she was approached by two African-American boys. She told how one of them, who looked about 15, demanded money from her and threatened to kill her if she didn't give him any. She told him she didn't have any. 'He said: "Well, I'm going to kill your baby", and I said "Please don't kill...

PROFESSOR: Zombies Are Popular Because People Have Given Up Hope Zombie popularity is a surefire indicator of national mental health, says Clemson University professor Sarah Lauro. Lauro, an English teacher who studied zombies while working on her doctorate, told the Associated Press that the rise of the "Zombie Walk," specifically, illustrates citizens' dissatisfaction with governments and life in general. "We are more interested in the zombie at times when as a culture we feel disempowered," Lauro told the AP. "And the facts are there that, when we are experiencing economic crises, the vast population is feeling disempowered. ... Either playing...

Shooter takes VP Joe Biden’s advice — and lands in trouble with cops Vice President Joseph R. Biden told a Field & Stream reporter in a published report on Monday that if “you want to keep someone away from your house, just fire the shotgun through the door.” That same day, a 22-year-old man in Virginia Beach, Va., did just that — and was charged with reckless handling of a firearm. WAVY 10 reported that the man was in his bedroom when two armed masked men leaned through the window and warned him to close the bedroom door. The 22-year-old...

“On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord. On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn-out dogmas that for far too long have strangled our politics.” President Barack Obama spoke these words four years ago to a captive nation -- a nation that believed hope could lead to change they could believe in. Change did indeed come to America, but not the change many people envisioned. While we may have a lot of new laws (and debt)...

Shortly after Hugo Chávez won his first election as Venezuelan president in December 1998, a lawyer from the western state of Barinas, which was then governed by Chávez's father, delivered a prescient warning to Newsweek magazine: "Venezuelans are dreaming of a savior, but Chávez is a dictator. People don't know what they are getting."  More than 14 years later, a cancer-stricken Chávez is reportedly near death, but his autocratic legacy is very much alive. Venezuela long ago ceased to be a real democracy: The ruling regime effectively controls the Supreme Court (which in 2004 was expanded and packed with Chávez allies), the National Assembly...