Keyword: obamadepression

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  • Observations on the Financial Crisis

    09/15/2013 11:53:33 AM PDT · by Dysart · 1 replies ^ | 9-15-2013 | Keith Hennessey
    For the five year anniversary of the 2008 financial crisis, Ed Lazear and I have released a paper titled “Observations on the Financial Crisis,” published through the Hoover Institution. It’s just over 25 pages and also has a fairly detailed timeline of events as an appendix. Ed was chairman of President Bush’s Council of Economic Advisers when I was director of the National Economic Council. Here are the 19 observation headlines. I urge you to read our supporting arguments, especially if you’re going to comment on or respond to them. Each argument takes only about a page. “The recession that...
  • The Great Obama Depression

    08/05/2013 9:11:42 AM PDT · by xzins · 23 replies
    Washington Times ^ | 3 Aug 134 | Judson Phillips
    A White House spokesman called July’s 7.4 percent unemployment rate proof that “the U.S. economy is continuing to recover from the worst downturn since the Great Depression.” He said it with a straight face. The data tell another story: America remains mired in the Great Obama Depression. The unemployment rate that the administration trumpets is a liar’s number. The formula for the unemployment figure that is released every month is rigged to look favorable to the administration in power. The true numbers from the Bureau of Labor Statistics show a far different picture. They show an America that is in...
  • ROSENBERG: One Of The Most Reliable Economic Indicators Peaked In July (Eating Out)

    12/05/2012 9:48:16 AM PST · by blam · 62 replies
    TBI ^ | 12-5-2012 | Sam Ro
    ROSENBERG: One Of The Most Reliable Economic Indicators Peaked In July Sam RoDecember 5, 2012When the official headline economic indicators don't work, savvy investors turn to the unconventional economic indicators. In his latest Breakfast With Dave note, David Rosenberg visits a signal being sent by the restaurant sector: EATING OUT IS OUT Our hedge fund desk has always told me that among the most reliable cyclical indicators for the American consumers is the restaurant sector. Traffic is slowing down precipitously and the companies are issuing negative guidance. I took a look at the monthly details from the latest PCE data...
  • UDC Asks for $4 Million to Finance Layoffs (DC area)

    11/26/2012 7:12:36 PM PST · by FreeAtlanta · 13 replies ^ | Monday, Nov 26, 2012 | Brandon Benavides
    School plans to layoff 25 faculty and staff members The University of the District of Columbia is asking the city for $4 million to pay for the severance packages of dozens of professors and staff members it wants to lay off. UDC plans to lay off 25 faculty and staff members, and eliminate seven departments and two dozen majors. School officials say it's expensive to eliminate positions because of a strong union presence. The school already eliminated 30 positions. A university spokesperson said the school expects the city to pay for the severance packages because the city ordered UDC to...
  • S.F. cracks down on camping in RVs ["vehicularly housed individuals"]

    10/02/2012 1:40:55 PM PDT · by Cincinatus' Wife · 21 replies
    San Francisco Chronicle ^ | October 2, 2012 | C.W. Nevius
    On one hand it is easy to sympathize with the owners of motor homes who live on the city's streets. "I've got my life savings tied up in it," said Robin Tyree, a 59-year-old woman who parks her motor home near the San Francisco Design Center. "I'm just trying to survive." Unfortunately, RVs line the curb along Oak and Fell streets next to Golden Gate Park and along Great Highway, and in the Bayview a group has set up an outdoor couch, coffee table and TV viewing area. Finding a park for motor home owners might be a good idea...
  • More Americans Now Commit Suicide Than Die in Car Crashes as Miserable Economy Takes Its Toll

    09/22/2012 10:38:53 PM PDT · by DogByte6RER · 53 replies
    The Daily Mail (UK.) ^ | 22 September 2012 | Daily Mail Reporter
    $56 million suicide prevention programme launched as study reveals more Americans take their own lives than die in car crashes Suicide is a bigger killer than car crashes, according to an alarming new study. The number of people dying from suicide has drastically increased, while car accident deaths haven lessened, making suicide the leading cause of injury death. Suicides via falls or poisoning have risen significantly and experts fear there could be en more going unrecognised, specifically in cases of overdose. 'Suicides are terribly under-counted,' said Ian Rockett, author of the study, published on Thursday in the American Journal of...
  • The “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report

    09/19/2012 12:15:19 PM PDT · by grundle · 50 replies ^ | Sseptember 18, 2012 | Kevin DuJan
    Full title: Ground Reports from the “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report that show this is indeed a Depression On my desk, just under the computer monitor, I have a little box full of slips of scrap paper. I’ve been doing this since I was a kid because the nuns who taught me in Catholic School refused to ever waste paper. Anything that comes into my home that’s blank on one side and has outlived its usefulness is drawn and quartered and spends some time as scrap paper in that...
  • Most laid-off US workers take pay cuts in new jobs

    08/25/2012 12:26:23 AM PDT · by Olog-hai · 9 replies
    Associated Press ^ | Aug 24, 2012 6:09 PM EDT | CHRISTOPHER S. RUGABER
    The U.S. economic recovery hasn't felt much like one even for people who managed to find new jobs after being laid off. Most of them have had to settle for less pay. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more. … The report provides an illustration of the job market's persistent weakness well after the Great Recession officially ended in June 2009....
  • Tax Fraud is Linked to Public Benefits

    08/22/2012 5:09:55 AM PDT · by TurboZamboni · 15 replies
    tampa bay times ^ | 8-19-12 | patty ryan
    Tampa police estimate that 80 to 90 percent of the tax refund fraud they encounter is committed by people on public assistance. "The people who are benefiting most from our taxes are the ones doing it," said police spokeswoman Andrea Davis.
  • CBO sees deeper "fiscal cliff" recession next year

    08/22/2012 8:25:12 AM PDT · by Kartographer · 6 replies
    Reuters via Yahoo News ^ | 8/22/12 | David Lawder
    The Congressional Budget Office said failure to avoid the so-called "fiscal cliff" of expiring tax cuts and automatic spending reductions would cause U.S. gross domestic product to shrink 0.5 percent in 2013. Previously, the non-partisan CBO forecast full-year GDP growth of 0.5 percent. The first half of 2013 will be particularly difficult, the CBO said in its mid-year forecast update. Tax hikes and spending cuts will cause GDP to shrink 2.9 percent in the first half, compared with a prediction in May for a 1.9 percent contraction. There will still be a slight bounceback in the second half of 2013,...
  • Unemployment rates rise in U.S. election swing states (Oh Yes, It's Obama's Fault!)

    08/18/2012 6:03:07 AM PDT · by tobyhill · 7 replies
    reuters ^ | 8/18/2012 | Lisa Lambert
    Unemployment rates rose in July from June in almost all states, including those where the presidential election fight is expected to be fiercest, according to data released on Friday by the Labor Department. Altogether, jobless rates rose in 44 states. Rates dropped in Idaho, Rhode Island and the District of Columbia, and were unchanged in four states. As the country moves closer to November's election day, voters' attention is squarely focused on the economy and a national jobless rate hovering above 8 percent. Because of the unique U.S. political system in which states cast electoral votes for president, the contest...
  • Retail Sales Fall More Than Expected in Third Straight Monthly Decline

    07/16/2012 6:12:15 AM PDT · by Qbert · 27 replies
    MoneyNews ^ | 16 Jul 2012 | MoneyNews
    Americans cut their spending at retail businesses for a third straight month, as a weak job market has made consumers more cautious. Retail sales fell 0.5 percent in June from May, the Commerce Department said Monday. Consumers spent less on autos, furniture, appliances, on building and garden supplies and at department stores. The drop in sales followed declines in the previous two months. Retail sales haven't fallen for three straight months since the fall of 2008, at the height of the financial crisis. Some of the weakness in recent months reflects falling gas prices. But even excluding sales at gas...
  • U.S. pushes for more scientists, but the jobs aren’t there

    07/08/2012 2:26:24 AM PDT · by Cincinatus' Wife · 45 replies
    The Washington Post ^ | July 7, 2012 | Brian Vastag
    Michelle Amaral wanted to be a brain scientist to help cure diseases. She planned a traditional academic science career: PhD, university professorship and, eventually, her own lab. But three years after earning a doctorate in neuroscience, she gave up trying to find a permanent job...she took an administrative position at her university, experiencing firsthand an economic reality that, at first look, is counterintuitive: There are too many laboratory scientists for too few jobs. That reality runs counter to messages sent by President Obama and the National Science Foundation and other influential groups, who in recent years have called for U.S....
  • Will Mitt Romney expand the role, size, and cost of government?

    07/03/2012 12:49:25 PM PDT · by Clay Taurus · 23 replies
    July 3 2012 | Clay Taurus
    My first thread on Free Republic I asked if Mitt Romney would balance the budget, and the consensus was that he would not. That we should expect more of the same. So for this next one, I will ask more stuff which is important to me a fiscal free market conservative: Will Mitt Romney expand the role, size, and cost of government? I’m asking these questions about the deficit, and size of government because I don’t understand what the difference is so far between Obama and Romney, and not sure what the point is in replacing Obama with Romney if...
  • US unemployment aid applications little changed at 387,000, suggesting hiring will stay weak

    06/21/2012 5:59:13 AM PDT · by Perdogg · 20 replies
    The number of people seeking U.S. unemployment benefits dipped last week but not by enough to indicate hiring will pick up. Weekly applications for unemployment aid declined by 2,000 to a seasonally adjusted 387,000, the Labor Department said. That’s down from an upwardly revised 389,000.
  • Underpaid, Underemployed And Barely Making Ends Meet [The Obama Economy!]

    06/19/2012 9:15:44 PM PDT · by Steelfish · 15 replies
    NY Times ^ | June 18, 2012
    Underpaid, Underemployed And Barely Making Ends Meet Many Americans are stuck in jobs with low wages and lousy benefits By Michael Cooper 6/19/2012 Throughout the Great Recession and the not-so-great recovery, the most commonly discussed measure of misery has been unemployment. But many middle-class and working-class people who are fortunate enough to have work are struggling as well, which is why Sherry Woods, a 59-year-old van driver from Atlanta, found herself standing in line at a jobs fair this month, with her résumé tucked inside a Bible. (snip) Ms. Woods’s current job has not been meeting her needs. When she...
  • Weekly jobless claims drop after weekly upward revision (377,000 week ending 06/03/2012)

    06/07/2012 6:47:35 AM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 06/07/2012 | Ed Morrissey
    The only thing more amusing than the weekly upward revisions in the initial weekly jobless claims are the media reports of significant drops afterward. Today's case in point is the "drop" to 377,000 from last week's 383,000, which got revised upward to 389,000 ... the 64th upward revision in 65 weeks: In the week ending June 2, the advance figure for seasonally adjusted initial claims was 377,000, a decrease of 12,000 from the previous week's revised figure of 389,000. The 4-week moving average was 377,750, an increase of 1,750 from the previous week's revised average of 376,000.The advance seasonally adjusted...
  • BIG MISS: April Factory Orders Fall 0.6%, Ex-Cars Fall 1.1%

    06/04/2012 7:10:03 AM PDT · by mykroar · 26 replies
    Business Insider ^ | 6/4/2012 | Joe Weisenthal
    ORIGINAL POST: Last economic datapoint of the day: April factory orders come out at 10:00 AM ET. Analysts expect an increase of 0.2%. That compares to a decline of 1.9% in the previous month. Given all the bad news in econ data-world these days, this one will be closely watched for confirmation or negation of the trend. UPDATE: The numbers are out and bad. Factory orders fell 0.6% in April, which is way worse than the 0.2% growth anticipated. Last month was revised to a decline of 2.1% from a decline of -1.5%. And ext-transport, the decline was a solid...
  • These Are The Reasons US Companies Are Terrified Of Hiring Right Now

    06/03/2012 6:29:45 AM PDT · by SeekAndFind · 21 replies
    Business Insider ^ | 06/03/2012 | AP
    NEW YORK (AP) — Business has picked up. Yet American companies are too nervous to step up hiring. The economy seems so gripped by uncertainties that many employers have decided to manage with the staff they have. They aren't convinced their customer demand will keep growing. Or they worry that Europe's festering debt crisis could infect the global economy. Or they aren't sure what Congress will do, if anything, about taxes and spending in coming months. All that helps explain why U.S. employers added just 69,000 jobs in May, the fewest in a year and the third straight month of...

    Developing. Analysts expect to see 370K weekly claims. That would exactly be in line with last week's 370K. The number is one of the best high-frequency predictors of the economy and the market, so this is big. If this stays tame, it will do a lot to assure that things aren't deteriorating too badly. UPDATE: The number is 383K, a miss from an upwardly revised.
  • U.S. 1Q GDP Growth Revised Down to 1.9%

    05/31/2012 6:29:23 AM PDT · by scooby321 · 29 replies
    Fox Business ^ | 5/30/2012 | Fox Business
    U.S. economic growth was a bit slower than initially thought in the first quarter as businesses restocked shelves at a moderate pace and government spending declined sharply.
  • Broke and homeless 'Small Wonder' child star blames downfall on stripper

    05/31/2012 9:44:08 AM PDT · by lowbridge · 27 replies
    ny post ^ | may 31, 2012 | David K. Li
    A former child actor, who enjoyed fleeting fame on the 1980s comedy “Small Wonder,” is reportedly broke and homeless —and blames a stripper for his troubles. Down-on-his-luck actor Jerry Supiran, 39, also claimed a crooked money man contributed to his current situation, living under a bridge in central California, according to The National Enquirer. The former child actor played adorable preteen Jamie Lawson, who was the brother of his adopted sister, Vicki, a robot made by their dad. “When I was 18, I dated a stripper and she took what was left of my trust fund —then one of my...
  • Pending Home Sales Unexpectedly Slide in April

    05/30/2012 7:43:30 AM PDT · by mykroar · 66 replies ^ | 5/30/2012 | Reuters
    Contracts to purchase previously owned homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom. The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed in April, fell 5.5 percent to 95.5, its lowest level since December. Economists polled by Reuters had expected signed contracts, which lead existing home sales by a month or two, to rise 0.1 percent after a previously reported 4.1 percent gain. The housing market has been one of the U.S. economy's weakest links as it recovers...
  • Number of the Week: Half of U.S. Lives in Household Getting Benefits

    05/26/2012 9:16:52 AM PDT · by BradtotheBone · 18 replies
    The Wall Street Journal ^ | May 26, 2012, 5:00 AM | Phil Izzo
    49.1%: Percent of the population that lives in a household where at least one member received some type of government benefit in the first quarter of 2011. Cutting government spending is no easy task, and it’s made more complicated by recent Census Bureau data showing that nearly half of the people in the U.S. live in a household that receives at least one government benefit, and many likely received more than one. The 49.1% of the population in a household that gets benefits is up from 30% in the early 1980s and 44.4% as recently as the third quarter of...
  • Man tells deputies he shot 2 deer because he's out of work, needed food

    05/22/2012 5:43:52 AM PDT · by dennisw · 81 replies
    orlandosentinel. ^ | 10:08 a.m. EST, May 21
    <p>A Collier County man accused of shooting two doe deer says he needed to feed his family.</p> <p>The Naples Daily News reports Castillo told deputies he shot the deer because he was unemployed and needed food to feed his family. He said he was on his way home from dog hunting with his son when he spotted two deer running across the road. Castillo said he got out of his car and shot them.</p>
  • Rising GDP doesn't rule out recession

    05/12/2012 11:53:36 AM PDT · by Signalman · 16 replies
    CNNMoney ^ | 5/12/2012 | Lakshman Achuthan and Anirvan Banerji
    Yes, U.S. GDP is still rising, according to the latest reports. But that doesn't mean we've dodged a new recession. Sound surprising? What most people don't understand is that recessions often begin when gross domestic product is still showing positive growth. Four of the past six recessions started during a quarter when GDP was growing, as did 72% of all recessions in the past 94 years . How can that be? The answer is that expansions end -- and recessions begin -- at the peak of the business cycle, after which the economy begins to contract. _________________________________________________ One reason we...
  • JCPenney Is Quietly Firing Lots Of Middle Managers Across The Country

    05/03/2012 7:37:02 AM PDT · by SeekAndFind · 65 replies
    Business Insider ^ | 05/03/2012 | Kim Bashin
    Ron Johnson's plan to transform JCPenney continues to roll along, and many of its workers on the frontlines aren't happy about the changes. JCPenney cut a bunch of middle managers across the country on Monday, according to multiple former managers we spoke with. We've withheld their names for their protection. This appears to be part of the layoffs announced back in January, but it's unclear how exactly how many have been let go. One source says that the number may now be in the thousands. JCPenney didn't immediately answer requests for comment, but a spokesperson did mention yesterday that the...
  • Vacation backlash: Blue collar Dems jealous, angry at Obamas

    04/26/2012 1:39:25 PM PDT · by MissesBush · 29 replies
    Washington Examiner ^ | 04/26/2011 | Paul Bedard
    Blue collar Democratic voters, stuck taking depressing “staycations” because they can’t afford gas and hotels, are resentful of the first family’s 17 lavish vacations around the world and don’t want their tax dollars paying for the Obamas’ holidays, according to a new analysis of swing voters. “They view everything through their own personal situation and if they can’t afford to do it, they can’t enjoy it, they don’t like Obama using their tax dollars to benefit himself,” said pollster John McLaughlin. “In this case, they see him as out of touch. While they are struggling he’s not sharing in that...
  • Great American Group Sees Potential Increase in Food Prices for Coming Months (Obama's fault!)

    02/24/2012 9:34:12 AM PST · by tobyhill · 21 replies
    Wall Street Journal ^ | 2/23/2012 | staff
    Analysts with Great American Group, a leading provider of asset disposition, valuation and appraisal services, believe that continued increases in raw material costs will result in overall higher food prices in the coming months. Retail food prices remained above average in 2011, with the largest increases occurring in the meat and dairy industries. Higher prices were driven by increased export demand, adverse weather conditions and high fuel and feed costs. While record plantings for corn and wheat may help lower costs for feedstocks in the coming months, ongoing weather-related issues and global export demand may result in continued volatility. Great...
  • Comparing America in freedom: to America in the chains of Obama’s socialism

    02/22/2012 8:29:30 AM PST · by jmaroneps37 · 2 replies · 1+ views
    The problems Obama will face are growing not subsiding. In just the last month the pump price of gasoline has risen .20 a gallon. ……..higher than it has been in February since 1981. The reason for the rise totally out of Obama’s control; he can’t lie his way out of it. The Iranians want to squeeze the Europeans who are already looking at $8.00 a gallon gas so they are denying France and England oil. The Europeans will come here to buy their gasoline because our $3.52 per gallon looks great! When they do our price will go up whether...
  • The Family Prostitute - as the recession continues, more and more women are turning to...

    02/17/2012 2:29:52 PM PST · by doug from upland · 41 replies
    laweekly ^ | 2-17-12 | Albo
    In the workplace lunchroom, dominated by a Formica table stocked with a condiment cradle that holds four kinds of hot sauce, Nikki furrows her brow as she fishes into her purse and retrieves her driver's license. A resident of Riverside, Nikki is filling out some paperwork for her new job. "There's a lot of stuff they want to know," she says. It's been a busy day for the former administrative assistant. "I flew in and saw the doctor before I even got here," she says. Dressed in "business casual," Nikki is an attractive 24-year-old African-American woman with a retro hairstyle...
  • CBO: Longest Period of High Unemployment Since Great Depression

    02/17/2012 5:24:37 AM PST · by Arcy · 19 replies
    US News ^ | February 16, 2012 | ex M. Parker
    After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today. And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.
  • Final Nail In Today's NFP (Economic report) Tragicomedy: Record Surge In Part-Time Workers

    02/03/2012 10:06:29 AM PST · by Qbert · 12 replies
    Zero Hedge ^ | 02/03/2012 | Tyler Durden
    It appears the record surge in people not in the labor force is not the only outlier in today's data. For the other one we go to the Household Data Survey (Table 9), and specifically the breakdown between Full Time and Part Time Workers (defined as those "who usually work less than 35 hours per week"). We won't spend too much time on it, as it is self-explanatory. In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time...
  • Record 1.2 Million People Fall Out Of Labor Force In One Month

    02/03/2012 7:10:28 AM PST · by Rennes Templar · 36 replies ^ | Feb. 3, 2012 | Tyler Durden
    A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3...
  • New Jobless Claims: Still on Track, But Increasingly Volatile

    01/27/2012 7:47:27 AM PST · by Kaslin · 1 replies ^ | January 27, 2012 | Political Calculations
    Two weeks ago, we observed that the number of seasonally-adjusted initial unemployment insurance claims being filed each week was still following the same trend it has since 9 April 2011, but that it was becoming increasingly volatile, suggesting that the trend is beginning to break down: Today's number also underscores the increasing level of volatility in the data - when the current trend was establishing itself, it was characterized by relatively small changes in the number of new jobless claims being filed from week to week. Today new data marks the fourth time in the last six weeks in which...
  • 24 Statistics To Show To Anyone Who Believes That America Has A Bright Economic Future

    01/12/2012 3:14:37 PM PST · by SeekAndFind · 26 replies
    The Economic Collapse ^ | 01/12/2012 | Michael Snyder
    Beware of bubbles of false hope. Right now there is a lot of talk about how the U.S. economy is improving, but it is all a lie. The mainstream media can be very seductive. When you sit down to watch television your brain tends to go into a very relaxed mode. In such a state, it becomes easy to slip thoughts and ideas past your defenses. Sometimes when I am watching television I realize what the media is trying to do and yet I can still feel it happening to me. In this day and age, it is absolutely...
  • U.S. jobless claims rise sharply to 6-week high

    01/12/2012 9:07:30 AM PST · by sunmars · 64 replies · 1+ views
    <p>WASHINGTON, Jan 12 (Reuters) - The number of Americans applying for first-time jobless benefits rose last week, a report showed on Thursday, reversing a recent decline and suggesting the labor market remains brittle. Unemployment claims jumped to 399,000 in the first week of 2012, the highest in six weeks, from an upwardly revised 375,000 in the prior week. The four-week average of claims also marched higher to 381,750 from 374,000. The Labor Department report also showed 3.63 million continuing claims, up from 3.61 million. Including the millions of workers receiving benefits under emergency federal programs, some 7.3 million Americans were receiving unemployment benefits as of Dec. 24, the most recent date for which comprehensive figures are available. The U.S. unemployment rate has fallen sharply in recent months and was 8.5 percent December, but some economists worry the drop has been due in part to discouraged workers dropping out of the labor force.</p>
  • Number of homeless students surges, putting strain on schools (Chicago)

    01/07/2012 3:41:19 PM PST · by Graybeard58 · 65 replies
    Chicago Sun-Times ^ | January 6, 2012 | Adeshina Emmanuel
    At 15, Jarvis Nelson should be in high school and even thinking about college. Yet Jarvis is in seventh grade, and doesn’t know where he’ll go to high school — or even where he will be living — when he graduates from junior high, hopefully next year. That’s because Jarvis has attended three different schools in the past four months. He’s lived in three different places on the North and South Sides of the city — including his most recent home, a temporary shelter in Lake View. Jarvis, like thousands of other students in Chicago Public Schools, is homeless. He...
  • Bloomberg Hides Government Causes of Financial Crisis

    01/05/2012 2:33:19 PM PST · by neverdem · 6 replies
    American Spectator ^ | 1.4.12 | Peter Ferrara
    Media propagandists continue to advance the Democratic Party line. On December 21, Bloomberg News breathlessly reported, "The leading Republican candidates for president have embraced an explanation of the financial crisis that has been rejected by the chairman of the Federal Reserve, many economists and even three of the four Republicans on the government commission that investigated the meltdown." Reporter David J. Lynch further explained, "Both former House Speaker Newt Gingrich and former Massachusetts Governor Mitt Romney lay much of the blame on U.S. government housing policies, saying they led to the real estate crash that almost brought down the banking...
  • Welfare Lines Overflow

    01/05/2012 12:34:41 PM PST · by WOBBLY BOB · 13 replies · 1+ views
    Growing numbers of New Yorkers seeking food stamps have created an unwelcome spillover effect at some of New York City's job centers: overcrowding that in some cases has grown so severe, benefits were jeopardized. The crush of people grew so large at one Brooklyn center in November that the Fire Department intervened and prevented anyone from entering the building.
  • Yard Signs Tell the Tale in New Hampshire (Barack Obama is in big trouble next November.)

    01/05/2012 6:55:04 AM PST · by Kaslin · 28 replies
    PJ Media ^ | January 5, 2012 | Andrew Boucher
    Drive through New Hampshire in the next week, and you will see a staggering number of Republican yard signs. They’re everywhere: It seems like every third house has a sign up. They’re on front yards and in the windows of businesses. They’re in every neighborhood representing every demographic. They’re in front of homes along rural roadways, in front of suburban homes in the big southern towns, and in the conservative blue-collar neighborhoods of Manchester. And there are even Republican yard signs all over the capital city of Concord — a largely Democratic-leaning town in this swing state.Barack Obama is in...
  • Why there are no jobs in America

    01/01/2012 9:40:16 AM PST · by Oldpuppymax · 28 replies
    Coach is Right ^ | 1/01/2012 | Suzanne Eovaldi
    Our US economy is fast falling into a third world economy according to Paul Craig Roberts, former Reagan administration official. “Americans have been betrayed by their government,” he recently told a Georgia television audience when asked if the fault all lies with China. When the politicians of both parties told us we’d have a new economy with new products available and new types of jobs, basically Roberts is saying we were sold a false bill of goods. Unless decisive action is taken immediately, he is warning that a demise of the US economy will feature only domestic services and other...
  • Christie: "After Three Years Of Obama, We Are Hopeless And Changeless"

    01/01/2012 8:30:44 AM PST · by Nachum · 24 replies · 1+ views
    Real Clear Plolitics ^ | 1/1/12 | RCP Video
    "Let's be real clear. Let's be real clear. President Barack Obama came out to Iowa three years ago, and he talked to you about hope and change. Well, let me tell you, after three years of Obama, we are hopeless and changeless, and we need Mitt Romney to bring us back, to bring America back," Gov. Chris Christie (R-NJ) said in Iowa today at a Romney rally. * At the end of the video, while Christie is introducing Romney, an "Occupy" protester starts to chant "You are the 1%" as she is escorted off the premises. The heckler also trips...
  • Census shows 1 in 2 people are poor or low-income

    12/15/2011 5:33:19 AM PST · by markomalley · 71 replies
    See BS ^ | 12/15/11
    Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income. The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families. "Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses,...
  • Letters to Santa show desires and distress of Greater Cleveland's children

    12/11/2011 4:21:08 AM PST · by EBH · 13 replies
    The Cleveland Plain Dealer ^ | 12/11/11 | Mark Naymik
    Santa better have a Kleenex and a backup plan when he reads the letters addressed to him that are trickling into the Cleveland post office. The view of the world from young letter writers is both depressing and inspirational, laid out in pencil, Crayon and fancy computer font. Regardless of their presentation, their requests go well beyond anything I've seen advertised on the Qubo Channel. I generally resist sentimental journeys because they lack authenticity. Nonetheless, this week I visited the large postal processing center on Orange Avenue, not far from Progressive Field, to take a peek the letters addressed to...
  • Beneath the Labor Statistics, The Outlook is Grim For Obama

    12/07/2011 9:23:23 AM PST · by Kaslin · 14 replies ^ | December 7, 2011 | Donald Lambro
    WASHINGTON -- Mark Twain, who took a dim view of our elected officials, once said that in the world of politics and government there were lies, damned lies and statistics. The headlines that followed Friday's report said that the number of unemployed Americans had fallen. But the fine print beneath that statistic revealed that this decline was owing largely to the 315,000 discouraged job seekers who stopped looking for work last month and thus were no longer counted among the unemployed. When you deduct these frustrated, long-term jobless Americans from the labor pool equation, guess what? The unemployment rate falls....
  • Obama tells banks, businesses to help middle class (while driving businesses to bankruptcy)

    12/06/2011 2:47:21 PM PST · by tobyhill · 15 replies
    wall street journal ^ | 12/6/2011 | By Greg Robb
    President Barack Obama on Tuesday laid out his economic philosophy, saying that banks, businesses and government must help the middle class get back on its feet. “This is the defining issue of our time. This is a make or break moment for the middle class,” Obama said in a speech in Osawatomie, Kansas. The town, about 60 miles southwest of Kansas City, was chosen for the speech because President Theodore Roosevelt delivered a famous economic address calling for economic regulation social justice in Osawatomie in 1910, according to the White House. Read Roosevelt’s speech. Obama blamed the financial crisis and...
  • Citi cuts 4,500 jobs, will take $400 million charge (Ooops, not taking Teddy Obama's advise)

    12/06/2011 3:23:14 PM PST · by tobyhill · 3 replies
    reuters ^ | 12/6/2011 | Reuters
    Citigroup Inc (C.N) is cutting 4,500 staff positions worldwide and the bank expects to record a $400 million charge related to the job cuts, Chief Executive Vikram Pandit said on Tuesday. Pandit, speaking at the Goldman Sachs Financial Services Conference, said the bank's expense reduction plan generated $1.4 billion in savings so far this year, nearly 4 percent of the bank's $37.72 billion of operating expenses in the first three quarters.
  • The Unemployment Decline: Good or Bad News?

    12/05/2011 6:36:42 AM PST · by SeekAndFind · 16 replies
    Real Clear Markets ^ | 12/05/2011 | Alfred Tella
    The official unemployment rate fell by an impressive (and statistically significant) 0.4 last month, from 9.0 percent in October to 8.6 percent in November. 8.6 percent is the lowest rate since March 2009. "Signs of Hope," cheered the New York Times. The Washington Post said that economists "liked what they saw." (But not all economists.) Was the unemployment decline really good news, or was it bad news disguised as good? Let's start with jobs. Payroll employment rose only modestly in November, by 120,000. The payroll data, collected from employers, have monthly sampling error of about 100,000, so the November gain...
  • Charles Krauthammer: The Pipeline Sellout - Obama puts politics over nation, again.

    11/18/2011 12:08:31 PM PST · by neverdem · 49 replies
    NATIONAL REVIEW ONLINE ^ | November 18, 2011 | Charles Krauthammer
    The Pipeline SelloutObama puts politics over nation, again. In 2008, the slogan was “Yes We Can.” For 2011–12, it’s “We Can’t Wait.” What happened in between? Candidate Obama, the vessel into which myriad dreams were poured, met the reality of governance.His near–$1 trillion stimulus begat a stagnant economy with 9 percent unemployment. His attempt at Wall Street reform left in place a still too-big-to-fail financial system as vulnerable today as when he came into office. His green-energy fantasies yielded Solyndra cronyism and a cap-and-trade regime not even a Democratic Congress would pass.And now his signature achievement, Obamacare, is headed to...