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Thirty-two black males, most of whom are alleged members of either the Rolling 60 Crips or Black Gangster Disciples, have been arrested in Denver, CO for allegedly engaging in violent and racist muggings against whites and Latinos. The attacks are "part of a trend spreading across the country" as reported by Kirk Mitchell for The Denver Post: As part of the trend, black gang members videotape the assaults in trendy tourist districts and sell them on the underground market as entertainment. * * * "They knock a young white guy out with one blow to see if his knees will...

The economy and the stock market may be recovering from their swoon, but more homeowners than ever are having trouble making their monthly mortgage payments, according to figures released Thursday. Nearly one in 10 homeowners with mortgages was at least one payment behind in the third quarter, the Mortgage Bankers Association said in its survey. That translates into about five million households. The delinquency figure, and a corresponding rise in the number of those losing their homes to foreclosure, was expected to be bad. Nevertheless, the figures underlined the level of stress on a large segment of the country, a...

Hope and change hits 29 states, the sad thing is, Obama is just getting started...Chart from CNN..

Barack Obama rode an economic crisis into the White House in November 2008. Now he’ll have to ride out the last of that economic storm if he’s to keep his own job in three years. But with unemployment surging and the President’s poll ratings sinking, there’s growing debate about what—if anything—the President can do about the situation. cnbc.com President Obama announcing jobs summit on Thursday “There's nothing new here," says crisis management expert and former senate aide Larry L. Smith. “We have become a very impatient people. When things don’t turn around overnight, we get impatient.” The President took his...

WASHINGTON — Fewer people are claiming unemployment benefits — but still too many to signal that the economy is close to gaining jobs. First-time claims for jobless benefits dropped last week to a seasonally adjusted 502,000, the Labor Department said Thursday. That's the fewest claims since the week ending Jan. 3, and below economists' estimates. Claims would have to fall to the high 400s to indicate the economy could soon produce even a slight gain in jobs, estimates Abiel Reinhart, an economist at JPMorgan Chase. That level of claims could be reached by January, he said, and the economy should...

It's not just California that's dragging the country down. Did you know Wisconsin was in trouble? A new report by the Pew Center on the States, called Beyond California: States In Trouble, shows us the 10 that are weighing the country down. The ranking looks at budget gaps, foreclosure rates, lost state revenues, unemployment, money-management practices, and where "super-majority" requirements are killing efforts to fix the financial mess. Scores for each category are tallied for an overall ranking. We bring you the top 10, counting down from bad to worst. The higher score, the bigger the crisis. California gets a...

As the fallout continues to settle from the 2009 elections, among the more overlooked results was a ballot issue in Boulder County, Colorado that would have extended an existing sales tax to fund the acquisition of additional “open space.” Obviously, this regional issue didn’t garner as much national interest as the gubernatorial elections in New Jersey and Virginia, or the mayoral races in New York, Atlanta and Houston, or a surprising near-win by an unknown third party challenger in a hotly-contested New York Congressional race. Nonetheless, it stands out as another compelling affirmation of the new direction America is taking...

Given the recent announcement that the government's measure of unemployment has hit 10.2 percent, and given that the official House version of Obama's healthcare plan, HR 3962, has now passed, a close examination of the effects of "Obamacare" on the labor market is important. It will be no surprise to readers of this site to learn that the Democrats' bill will seriously harm precisely those poor and uninsured citizens it is ostensibly designed to help. The harm will come by compounding mass unemployment and depriving these citizens of consumption choices. Obamacare as Labor Tax According to pages 269–273 of the...

Forget the stock market. Sure, the Dow has made a stunning improvement since January 20. But that’s not the place to put your money. Unemployment is outpacing Wall Street just a bit. Joblessness went from 7.6 percent when Obama took office to 10.2 -- whopping a 34 percent increase. If you could invest in job loss, you’d be a big winner under the current president. Clearly the people without jobs might not appreciate that philosophy. Who could blame them? For all that the media maligned the Bush administration over the economy, unemployment was better the entire time we had George...

With a choice of words that will surely drive Rahm Emanuel and David Axelrod to apoplectic profanity, the Associated Press writes tonight that their boss, President Barack Obama, is foundering in the latest AP-GfK Poll and uses the dreaded Carter era term "malaise" to describe the public's mood.The AP lede tells the story:"The euphoria of 2008 is over: America is in a funk. Elected last November on a wave of optimism, President Barack Obama now finds himself governing an increasingly pessimistic country...perhaps most striking for this novice commander in chief, more people have lost confidence in Obama on Iraq and...

NEW YORK (CNNMoney.com) -- The same economic pressures that pushed California to the brink of insolvency are wreaking havoc on other states, a new report has found. And how state officials deal with their fiscal problems could reverberate across the United States, according to the Pew Center on the States' analysis released Wednesday. The 10 most troubled states are: Arizona, California, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin. The list is based on several factors, including the loss of state revenue, size of budget gaps, unemployment and foreclosure rates, poor money management practices, and state laws...

Rosenberg: Here's Why Unemployment Is Going To 13% Joe WeisenthalNov. 11, 2009, 9:40 AM Earlier this week, Gluskin-Sheff economist David Rosenberg grabbed headlines when he said unemployment could go as high as 13%. Today he spells out his reasoning: There are serious structural issues undermining the U.S. labour market as companies continue to adjust their order books, production schedules and staffing requirements to a semi-permanently impaired credit backdrop. The bottom line is that the level of credit per unit of GDP is going to be much, much lower in the future than has been the case in the last two...

We’ve become a nation where perhaps civilization’s ultimate political achievement — freedom and democracy, fueled by a free-market economy — has become seen as an entitlement that is automatic, immutable, and self-maintaining. Left uncorrected, that assumption will soon be proven wrong: disastrously so. The perfect storm has hit us: A Democrat majority in both houses of Congress, at a time when a young, vibrant minority who is also a gifted speaker came along with promises of “Hope” and “Change.” Unfortunately, the “Change” he referred to meant “fundamentally changing the United States.” While millions of voters assumed he meant “Life as...

Commercial and multifamily mortgage lending in the U.S. fell 12 percent from the second quarter to the third quarter and is down 54 percent from year ago levels... The drop includes a year over year decrease in lending for all types of commercial properties. Loans for retail properties are down 62 percent. Loans for office properties are down 56 percent, MBA says. company downsizing has dampened demand for new office space across the country.

In the 2008 presidential election, young adults voted overwhelmingly for Barack Obama. This voting pattern has generated much discussion and no small amount of head scratching, principally because the main consequence of these young adults’ electoral choice appears to be a huge tax on them. Ultimately, the question becomes: Were they duped or were they stupid? In late 1999, I went to Washington, DC, for a political forum that included all the Republican presidential contenders. Each candidate made a presentation followed by questions and answers. My question was for Senator John McCain. A significant element of Mr. McCain’s political platform...

Members of Congress and the general public may not be aware of “potential emerging threats to the stability of the financial system,” thanks to a Thursday vote by a House panel shepherding the bill that’s supposed to end “too big to fail.” Members of Congress and the general public may not be aware of "potential emerging threats to the stability of the financial system," thanks to a Thursday vote by a House panel shepherding the bill that's supposed to end "too big to fail." The vote was on an amendment offered by Rep. Gregory Meeks, a New York Democrat, and...

LINKNot too hard to figure out, folks!

Our lawmakers have a trick for you this Halloween. Starting Sunday 10% more will be withheld from paychecks to cover the states $1.7 billion shortfall in the budget. They say it isn't a tax increase, it's just an interest free loan that we will recover in April when we file our taxes. Gee thanks guys, we all feel much better now. "California to withhold a bigger chunk of paychecks," by Shane Goldmacher and W.J. Hennigan - Los Angeles Times The provision is one of numerous maneuvers state lawmakers and Gov. Arnold Schwarzenegger approved in the summer to paper over the...

Barack Obama's presidency hasn't notably changed views on race relations in America, according to the results of a new Gallup poll. Fifty-six percent of Americans believe that a solution to America's race problems will eventually be worked out. That's roughly the same result that Gallup found in the years leading up to 2008. In short, despite a brief and notable bump after Obama won the election, optimism (or lack thereof) about U.S. race relations is back to its previous level. (Gallup interpets the drastic fluctuation in 1995 as a response to the O.J. Simpson trial.)

Domestic oil refiners kept up their attack of climate legislation, saying a Senate bill under consideration could increase gas prices. Domestic oil refiners kept up their attack Wednesday of climate legislation, saying a Senate bill under consideration could increase gas prices. The group, among the fiercest critics of the measure, said the proposal could add 77 cents a gallon, or around 30 percent above today’s prices. Democrats on a key Senate panel shot back, saying the industry’s estimate is based on an inflated projection of the price of permits companies will have to hold to cover their carbon emissions. A...

WASHINGTON (Reuters) - Sales of newly built U.S. single-family homes unexpectedly tumbled 3.6 percent in September in their first drop since March, but the inventory of new homes available at the end of the month shrank to the smallest in 27 years, government data showed on Wednesday. September single-family home sales totaled 402,000 units at an annual pace. Analysts polled by Reuters had expected new home sales to rise to a 440,000 unit annual pace from a revised 417,000 units in August, which was originally reported as 429,000 units. The median sales price rose in September to $204,800 from $199,900,...

U.S. consumers turned decidedly more pessimistic in October, according to a report released Tuesday, with households increasingly worried about job prospects. The Conference Board, a private research group, said its monthly Consumer Confidence Index fell to 47.7 this month, from a revised 53.4 in September, which was originally reported as 53.1. The current month's reading was well below economists' projections of 53.2, according to a survey conducted by Dow Jones Newswires. The downturn in consumer confidence at this stage of the recovery is to be expected, as it has occurred in previous recoveries (please see chart below), and does not...

Time Inc. is bracing for another round of cutbacks. Sources say the layoffs will be most severe in the division that includes Fortune, Sports Illustrated, Time and Money, and will be carried out before the Thanksgiving break. Since many of the old-line titles at Time Inc. are covered by union contracts with the Newspaper Guild, the company will likely have to offer voluntary buyout options as part of the downsizing. Time is running out if it hopes to complete the layoffs and write off the costs in the fourth quarter. Ann Moore, CEO of Time Inc., personally took over supervision...

The Young and the Jobless The minimum wage hike has driven the wages of teen employees down to $0.00. Yesterday's September labor market report was lousy by any measure, with 263,000 lost jobs and the jobless rate climbing to 9.8%. But for one group of Americans it was especially awful: the least skilled, especially young workers. Washington will deny the reality, and the media won't make the connection, but one reason for these job losses is the rising minimum wage. Earlier this year, economist David Neumark of the University of California, Irvine, wrote on these pages that the 70-cent-an-hour increase...

Consumers' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a private research group said Tuesday, fueling speculation that an already gloomy holiday shopping forecast could worsen. The Consumer Confidence Index, released by The Conference Board, sank unexpectedly to 47.7 in October —its second-lowest reading since May.

Consumers' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak.

Americans Take a Turn to the Right, Poll Shows John D. McKinnon reports on politics and polls. Among the striking findings in a new Gallup Poll on Americans’ shifting political attitudes is their growing anti-labor feeling. The percentage of Americans saying they would like to see unions have less influence in the country spiked to a record-high 42% in August 2009, compared with 32% a year earlier. That could spell trouble for some of the Obama administration’s policy priorities, including easing union-organizing rules and advancing “green jobs.” It might also complicate the president’s broader ambition to rebuild the economy in...

The Obama administration claims that it was their passage of massive government spending that saved the United States from another Great Depression. Last week, Larry Summers, Obama's top economic adviser, claimed that because of the stimulus: "We have walked a substantial distance back from the economic abyss and are on the path toward economic recovery. Most importantly, we have seen a substantial change in the trend of job loss." And Vice President Biden declared at the end of September: "In my wildest dreams, I never thought it [the stimulus] would work this well." As President Obama and other Democrats have...

WASHINGTON – The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain reluctant to hire even with the economy showing signs of recovery. Claims had fallen in five out of the previous six weeks and most economists expect that trend to continue, but at a slow pace, as jobs remain scarce. The report is "slightly disappointing," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients, "but it does not change the core story, which is that ... a clear downward trend in claims has...

During the eight years of the George W. Bush presidency, the left constantly told us that "dissent is the highest form of patriotism." During the Obama presidency, dissent is routinely considered the lowest form of treachery. Candidate Barack Obama promised to be a "new kind" of leader who would welcome vigorous debate and listen to all opinions. As president, however, he has shown a disturbing intolerance for any viewpoint other than his own. Rather than his promised post-partisan open-mindedness, his White House is using its power to try to smear and delegitimize those who oppose its agenda. With Orwellian coldness...

Unemployment rose in 23 states last month as the economy struggled to create jobs in the early stages of the recovery. While layoffs have slowed, companies remain reluctant to hire. Forty-three states reported job losses in September, while only seven gained jobs, the Labor Department said Wednesday. Some of the states that lost jobs still saw their unemployment rates decline, as discouraged workers gave up looking for work. People who are out of work but no longer looking for jobs aren't counted as officially unemployed. That trend was evident nationwide in September, as nearly 600,000 people dropped out of the...

7 promises that then candidate Obama has already broken. We hope that all the people of the ObamaNation are happy with their president.

CNN: 51% disagree with the messiah, 48% do: http://politicalticker.blogs.cnn.com/2009/10/20/cnn-poll-half-the-country-disagrees-with-obama-on-issues/ RASMUSSEN: The messiah loses on 10 out of 10 issues. GOP increased its lead in 9 out of 10 categories since last month. But particularly note the Health Care, Social Security, Economy, and Taxes numbers. Does the Democratic Party feel like demonizing their opponents on health care rationing some more? http://www.rasmussenreports.com/scoreboards/by_the_numbers2/by_the_numbers HARRIS INTERACTIVE POLL: Majorities of Americans give the messiah Negative Ratings on his Handling of 12 Major issues. Among the lowest are unemployment, the federal deficit and the war in Afghanistan. http://www.harrisinteractive.com/harris_poll/pubs/Harris_Poll_2009_10_19.pdf

Not later than February 1, 2014, the Comptroller General shall submit to the appropriate committees of Congress a report on . . . (ii) the availability of affordable health benefits plans, and (iii) the ability of individuals to maintain essential health benefits coverage . . . Not later than April 1, 2014, the appropriate committees of Congress shall report legislation implementing the recommendations contained in the report . . . [or] any member of the House of Representatives or the Senate, respectively, may introduce legislation implementing the recommendations contained in the proposal and such legislation shall be placed on the...

From Section 6002 on page 1435: INCLUSION OF COST OF EMPLOYER-SPONSORED HEALTH COVERAGE ON W–2The definition of taxable income is revised to include "the aggregate cost of applicable employer-sponsored coverage". . . "The amendments made by this section shall apply to taxable years beginning after December 31, 2009."

Higher Jobless Rates Could Be New Normal TOM RAUM, Associated Press Writer WASHINGTON – Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years. That could add up to a "new normal" of higher joblessness and lower standards of living for many Americans, some economists are suggesting. The words "it's different this time" are always suspect. But economists and policy makers say the job-creating dynamics of previous recoveries can't be counted on now. Here's why: • The auto and construction industries helped lead the nation...

Gee, who saw this one? Anyway, the point stands. The FDIC is clearly out of money, and this is nothing more than yet another legalized accounting fraud game, where they'll get "the money" now but allow the banks to "recognize" that "charge" over time. And now we find that this is not a short-term issue either: NEW YORK (CNNMoney.com) -- The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday. I know I have brought this up repeatedly, but these sorts of losses...

Consumer bankruptcies topped one million for the first nine months of this year, the highest point since the system was overhauled in 2005. The number of personal bankruptcy filings for the nine months rose to 1,046,449 as of Sept. 30, the American Bankruptcy Institute, an organization made up of attorneys, accountants and other bankruptcy professionals, said Friday, using data from the National Bankruptcy Research Center. There were 773,810 personal bankruptcy filings for the same time period in 2008. September's filings reached 124,790, 41% higher than the same month last year. The 2005 revamp was intended to make it harder for...

The love affair between Barack Obama and young Americans may be on the rocks. Recently released figures from the Department of Labor reveal staggeringly high joblessness numbers among America’s youth. Indeed, 53.4 percent of young Americans are without a job – a post-World War II high. With over half of 16-24 year olds jobless, even after stimulus package after stimulus package supposedly meant to create jobs, one has to wonder how Barack Obama’s approval ratings are doing among his strongest supporters. Unsurprisingly, the answer is “worse.” According to Gallup, approval of President Obama among young adults aged 18 to 29...

In what may be the ultimate job rating, 43 percent of voters say that they would vote to re-elect President Obama if the 2012 election were held today, down from 52 percent six months ago, from April 22-23, 2009. Obama's job approval rating comes in at 49 percent this week. That's down just one percentage point from late September, but it marks a new low approval for the president -- and the first time the Fox News poll has measured his approval below 50 percent.

Another Great Depression Low, Beware Getting Your Salary Slashed By Rocky Vega 10/14/09 Stockholm, Sweden – According to the New York Times, “now pay cuts, sometimes the result of downgrades in rank or shortened workweeks, are occurring more frequently than at any time since the Great Depression.” What does this mean for you? Well, for Bryan Lawlor it has meant taking a 50 percent pay cut, down to $34,000 per year. The government holds up our weak “recovery” statistics and when it comes to the tragic realities facing the average American it’s just the same refrain… deny, deny, and deny...

Obama To Avoid The Rabble On S.F. Visit Phillip Matier, Andrew Ross Wednesday, October 14, 2009 The White House's fear of protests from Code Pink and other left-wingers has put the brakes on President Obama making any public appearances during his visit to San Francisco this week. Obama is scheduled to parachute into Liberalville on Thursday afternoon and pick up a cool $2 million for the Democratic Party at a fundraiser at the St. Francis Hotel - then spend the night, before checking out early the next morning and heading to Houston for a community service forum hosted by former...

Since his election last November, even before taking office in January, Barack Obama has reshaped the office of the Presidency into the image he envisioned when beginning his quest for the Oval Office. But since his swearing in on January 20 Barack Obama has continued to blame his predecessor for “inherited” problems, and the President may indeed have had a few legitimate complaints. Yet he’s been unwilling to change many Bush-era policies, particularly in the realm of national security. Obama has also chosen to ramp up the war in Afghanistan while continuing the withdrawal from Iraq begun in the latter...

Scuffles erupted as several thousand Detroit residents jockeyed, pushed and shoved Wednesday to get free money being offered to only 3,500 of the city's recently or soon to be homeless. (Oct. 7)

The city of Detroit has turned away thousands of people who lined up Wednesday for a chance to receive stimulus money set aside for homeless and low-income residents. Wednesday at the Cobo Hall was the last day for Detroit residents to get an application for Homelessness Prevention and Rapid Re-Housing Program stimulus money. The city said an overwhelming 50,000 people came to the center seeking money that was promised to keep low-income residents from losing their homes and finding temporary housing for the homeless. The massive crowds created a fire and safety hazard and forced the Detroit Police Department to...

The state of Illinois can’t pay its bills, according to the local CBS affiliate in Chicago. Illinois has a $3 billion cash gap in its budget, and is now pushing vendor payments out to three months on average. One health-care provider that supports at-home care may have to shut its doors and lay off its employees while it waits for almost a million dollars owed by the state: The State of Illinois’ pile of unpaid bills has grown to a record-breaking $3 billion. Comptroller Dan Hynes said Tuesday it’s never before been this bad at this point in any previous...

Is Obama a disaster zone? Of course he is. Let’s cut through the crap, shall we? The SOB has never had any experience. And, but for the failed phrase “Compassionate Conservative,” we would never have been where we are today. What the hell does America have to show for its liberal agenda? Can anyone stand up and affirmatively tell us? An educational system occupied by apologist leftists? The ideal of community values now epitomized by a lack of gang bangers saying “trick or treat” on Halloween? The concept that “family” is a couple of homosexual men with a child and...

Meet the Obama whiners. “They did it” is the new administration’s credo when things go wrong. Most often, the culprit for disappointment in Obama’s hope-and-change agenda remains George W. Bush — a sort of modern-day fallen angel Azael, whose wickedness is persistent and omnipresent. Nine months after his departure, the former president insidiously still has his hand in almost everything that seems to plague Barack Obama’s utopian plans. At other times “the Republicans,” “the far Right,” “conservatives,” or even the “mob” have kept America from getting the future it deserves. One would never guess that the Democrats have held the...

A majority of this country’s electorate voted for the man. Not because of his ideas, not because of his experience, not because of his intellect! No, they voted for him because he promised some vague, never defined “hope and change.” Meanwhile, listening to his speech in Cairo, seeing him bow to the Saudi King, and being embarrassed by his vacuous self serving words at the UN, America is starting to wake up. His work ethic is all but presidential. He found 14 plus hours, in his busy schedule, to fly out to the Olympic Committee and plead Chicago’s (read: Tony...

SNIPPET: "That's right. The ubiquitous blue stickers with the round, red-white-and blue symbol are coming off the bumpers. Even in northern Virginia, which has large pockets of yellow dog Democrats, the stickers are disappearing." SNIPPET: "As Obama sinks in the polls, the absence of triumphal stickers is becoming glaringly obvious." SNIPPET: "America is taking Mr. Obama's measure and reassessing rapidly. From initiating a gusher of spending, appointing a gaggle of radicals, glad-handing America's enemies and targeting our own security personnel, the president has alienated one constituency after another. Pretty soon all he will have left will be the pansexual, Star...