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Business/Economy (Bloggers & Personal)

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  • Geithner Admits “Finance Has Never Been My Strong Point”

    05/19/2012 12:47:20 PM PDT · by John Semmens · 11 replies
    Semi-News/Semi-Satire ^ | 19 May 2012 | John Semmens
    In an interview for PBS News Hour, US Treasury Secretary Timothy Geithner confessed to being “severely confused” by matters of finance. “A few years ago I was being mocked for messing up my taxes,” Geithner complained. “But, really now, who can figure out the tax code? It’s such a mixed up pile of contradictory rules and instructions that I’d be surprised if anybody got it right.” “This deficit stuff, what’s that all about?” Geithner wondered. “How can the government be short of money? I’ve been to the mint and it seems we can print as much as we need. If...
  • Early Freeper Graduates From College Today

    05/18/2012 7:16:32 PM PDT · by muawiyah · 5 replies
    personal experience ~ I was there and saw it happen | may 18, 2012 | muawiyah
    Remember "March for Justice," broadcast live on Halloween 1998? My sons and I went to the March for Justice and we brought along several of their friends. All of them are today reliable Republican voters. One of the young men is of Thai heritage and he was mightily impressed with the Freepers that day. When he was about 12 he started a two year stint as a child monk in Bangkok ~ by the time he was a senior in high school he had some problems getting the grades needed to graduate so I elected to help him ~ to...
  • Alcohol Regulation Study: No Advantage To Tighter Restrictions

    05/18/2012 2:02:54 PM PDT · by MichCapCon · 5 replies
    Capitol Confidential ^ | 5/17/2012 | Michael LaFaive
    Michigan’s alcohol regulatory system contributes to higher costs for the public without providing discernible public health and safety advantages, according to a study released Monday by the Mackinac Center for Public Policy. “It is clear from Center of Disease Control data on alcohol-attributable deaths, for instance, that when it comes to health and safety, states with heavy state alcohol control regimes do not outperform states with lighter controls, such as license states, as opponents of deregulation might have us believe,” said Michael LaFaive, director of fiscal policy at the Mackinac Center and co-author of the study. “They are virtually indistinguishable,...
  • This just in: Jerry Brown guessed wrong. Again. Tack another billion or so on that deficit.

    05/18/2012 1:16:23 PM PDT · by Mark Landsbaum · 7 replies
    We wrote for the weekend (see our column Sunday morning when it goes up here) that Gov. Jerry Brown is a bad guesser. The ink wasn’t even dry yet – in fact the Sunday paper hasn’t even been printed yet – and we learn that Brown guessed wrong again. Back in January Brown guessed that the state budget would be $9.2 billion in the red. Wrong. Monday Brown revised his estimate. Then he said it would be $15.7 billion in the red. Wrong. Today the independent Legislative Analyst affirmed that Jerry’s wrong again. It will be $17 billion plus some...
  • Energy Debates Heat Up As High Electric Rates Continue

    05/18/2012 12:47:51 PM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 5/16/2012 | Jack Spencer
    Residents and businesses in Michigan are wrestling with the highest electric rates in the region — and with the best way to fix that situation. As is often the case in Michigan, a more competitive market versus a monopoly market is central to the debate, as is mandating an increase in the amount of renewable energy the state uses. According to the U.S. Energy Information Administration, Michigan's electric rates at the beginning of the year were 10 percent above the national average and had increased 8 percent over the previous year. With this reality as a backdrop, the state's energy...
  • Looks Like Subsidized A123 Execs Want to Cash In

    05/18/2012 11:39:25 AM PDT · by jazusamo
    National Legal & Policy Center ^ | May 18, 2012 | Paul Chesser
    As taxpayer-backed electric car battery-maker A123 Systems reported a $125 million 1st quarter loss this week and its stock price dipped to near its 52-week low, the executives that were just awarded big raises and parachutes look like they want to cash in and sell the company. Officials with the Massachusetts-based manufacturer, which received a $249.1 million grant from theDepartment of Energy but this week said the ability for the company to continue is a “going concern,” also announced they retained an outside adviser for “evaluation of strategic alternatives.” Translation: they’re looking to sell. If they are successful, A123...
  • California unemployment has improved to Eurozone levels! We’re in the Great Distression.

    05/18/2012 10:30:19 AM PDT · by Mark Landsbaum · 2 replies
    We were lamenting just the other day, yesterday in fact, that California’s 11.0 percent unemployment rate was identical to Ghana’s, that sub-Saharan economic stalwart. Today we awoke to the good news. California’s unemployment rate has plunged to (drum roll please) 10.9 percent! That’s as good as the unemployment rate in the euro zone, where people out of work also account for 10.9 percent of the working population, a new high for those folks...
  • Consequences of Collapse: Access to Critical Medicines Is Disappearing in Greece

    05/18/2012 10:18:58 AM PDT · by Kartographer · 27 replies
    Family Preppers ^ | 5/18/12 | Mac Slavo
    For patients and pharmacists in financially stricken Greece, even finding aspirin has turned into a headache. Mina Mavrou, who runs a pharmacy in a middle-class Athens suburb, spends hours each day pleading with drugmakers, wholesalers and colleagues to hunt down medicines for clients. Life-saving drugs such as Sanofi (SAN)’s blood-thinner Clexane and GlaxoSmithKline Plc (GSK)’s asthma inhaler Flixotide often appear as lines of crimson data on pharmacists’ computer screens, meaning the products aren’t in stock or that pharmacists can’t order as many units as they need. “When we see red, we want to cry,” Mavrou said. “The situation is worsening...
  • Vanity: Is Facebook getting ripped off with IPO?

    05/18/2012 8:13:34 AM PDT · by C19fan · 35 replies
    May 18, 2012 | Me
    I am watching the news before heading off to work and of course all the talk is about Facebook's IPO. Even one of the guys on CNBC was wearing a hoodie. There is all this talk about how tech IPOs have seen a "pop" in price of their new stock on average of 30%-40% on the first day of trading which would place Facebook as worth $50 on day 1 (35% over the IPO price of $38.) Why are Tech IPOs then systematically underpriced? If the Facebook IPO is so oversubscribed then why does Zuckerberg not say to whoever is...
  • The REAL Reason Obama/Holder Going After JP Morgan...?

    05/17/2012 2:26:14 PM PDT · by Reaganite Republican · 14 replies
    Reaganite Republican ^ | May 18, 2012 | Reaganite Republican
    Just in case you were wondering why Dear Leader has turned on supporter Jamie Diamond,  threatening investigations and new legislation when JP Morgan lost less than 1% of their own money in a bad trade... George Soros quadrupled his gold exposure in the first quarter, according to his latest 13-F filed with the SEC, increasing his position of 85,000 GLD shares during Q4 2011 to 320,000 shares by the end of March. That’s still a far cry from the 4.67M shares Soros held at the end of 2010. He dumped almost all of it in the following three months-. when gold still traded between...
  • Chevy Volt Pep Rally Masquerades as Electric Vehicle Symposium

    05/17/2012 10:41:48 AM PDT · by jazusamo · 6 replies
    National Legal & Policy Center ^ | May 17, 2012 | Mark Modica
    The Department of Transportation and NHTSA have announced that a "technical symposium" will be held on May 18th "to discuss safety considerations for electric vehicles powered by lithium-ion (Li-ion) batteries." In addition to NHTSA's presentations, the Department of Energy, automotive manufacturers and battery makers will participate. Given the bias of the participants, the symposium sounds like it is going to be less informational and more infomercial. The press release for the gathering states, "Electric vehicles show great promise as an innovative and fuel-efficient option for American drivers. Significant research and other activities related to the safety of these vehicles are...
  • House Panel Tackling State Dept., Foreign Ops Bill This Morning

    05/17/2012 9:27:32 AM PDT · by Steve Peacock · 2 replies
    U.S. Trade & Aid Monitor ^ | May 17, 2012 | Steve Peacock
    The House Appropriations Committee this morning is marking up the FY2013 State, Foreign Operations, and Other Programs bill. Some cuts are proposed, and yet much stays the same. The so-called Drug War, to cite one example, will continue unabated, as the following committee statement indicates: The Committee recommendation restores reductions proposed in the request for key countries in Latin America. The Committee believes it is critical to continue robust support for counternarcotics and law enforcement efforts, as well as assistance for rule of law and judicial reform activities in Mexico, Colombia, Central America, and the Caribbean to fight drug trafficking...
  • Freddie Mac: Mortgage Rates Drop (Again) – Thank Greece, Portugal and Spain!

    According to Freddie Mac, mortgage rates in the U.S. fell to a record for a third straight week. The average rate for a 30-year fixed loan dropped to 3.79 percent in the week ended today from 3.83 percent. Fannie Mae 30 year current coupons (the rate on Fannie Mae MBS) fell as well, but not to the lowest point in recent months.\ As Europe continues to experience a financial crisis, investors continue to invest in our Treasury market (driving down yields). 30 year mortgage rates follow the 10 year Treasury yield. Greece, Portugal and Spain continue to experience problems with...
  • Do They Understand Where the Money Comes From?

    05/17/2012 8:09:57 AM PDT · by Guido2012 · 9 replies
    Set Our Children Free ^ | 5/14/2012 | Tony Caruso
    Does Governor Moonbeam and his clueless California Democrat legislature understand where the money comes from? Or is it just that they can’t get past their core Socialist philosophy to find their way out of this mess?
  • New Study: High Corporate Taxes Stifle Small Businesses

    05/17/2012 7:32:47 AM PDT · by 92nina · 6 replies
    ATR ^ | 2012-05-16 | Hugh Johnson
    It’s generally best to speak to experts when making broad claims about national policy. For instance, if we want to analyze U.S. corporate tax policy it’s probably best to take the word of a few tax attorneys than, say, a constitutional law scholar. A new study by Jonathan Sallet and Robert Rizzi, partner attorneys in the tax practice of O’Melveny & Myers LLP, highlight the constricting nature of corporate tax rates. ATR has previously highlighted the job-killing nature of high corporate taxes and the anti-growth effects of maintaining the highest corporate tax rate in the industrialized world. Published by the...
  • 'Naked Short Selling'

    05/17/2012 7:00:16 AM PDT · by The Working Man · 55 replies
    Investor Village ^ | 16 May 12 | Matt Taibbi
    <p>It doesn’t happen often, but sometimes God smiles on us. Last week, he smiled on investigative reporters everywhere, when the lawyers for Goldman, Sachs slipped on one whopper of a legal banana peel, inadvertently delivering some of the bank’s darker secrets into the hands of the public.</p>
  • Firm Run by ex-USAID Official, Exxon Engineer Gets US-Funded Libyan Industry Contract

    05/16/2012 7:47:26 AM PDT · by Steve Peacock · 1 replies
    U.S. Trade & Aid Monitor ^ | May 16, 2012 | Steve Peacock
    A company jointly led by a former Exxon researcher and a one-time U.S. government official recently secured a contract to assess potential U.S. investments into Libyan industry, specifically the power-generation sector. The U.S. Trade & Development Agency (USTDA), an independent White House entity, selected Energy Markets Group (EMG) to carry out a “definitional mission,” or DM, to Libya. EMG will travel to Libya, evaluate that industry segment, and craft a report for USTDA either recommending or rejecting possible “investments” of additional funds to boost Libyan modernization efforts. EMG’s president is Ahmad Ghamarian, formerly an Exxon Research and Engineering Company staffer....
  • Federal 'Stimulus' Spent $34.5 Million In Michigan For Only 183 Total Jobs

    05/16/2012 5:34:25 AM PDT · by MichCapCon · 5 replies
    Michigan Capitol Confidential ^ | 5/14/2012 | Anne Schieber
    If jobs are any measure, 14 Michigan "green" companies that were awarded $34.5 million in taxpayer funded grants and loans aren't generating much heat. According to the Michigan Economic Development Corp., the companies have reported a total of 183 jobs. While a final report will not be issued until June, calls and emails to the companies indicate the total number will not be much higher. The state awarded the grants and loans in 2009 and 2010 under its Clean Energy Advanced Manufacturing Program. The money came from federal stimulus funding under the American Recovery and Reinvestment Act. The federal government...
  • Analysis: Local Governments Wrong to Call Foul On Property Tax Reform

    05/15/2012 8:53:59 PM PDT · by MichCapCon · 5 replies
    Michigan Capitol Confidential ^ | 5/13/2012 | James Hohman
    Local governments are crying poverty over a proposal that would make the state more attractive for businesses — a plan to phase out the state’s tax on business equipment. They’re also raising the alarm that they’ll have to raise taxes on local property owners to make up for lost revenue if the bill passes. School districts, counties, cities and townships should be applauding the state’s approach instead of fighting it. Local governments complain that the revenue from the tax will not be replaced, meaning less revenue for strained their budgets. But the specific proposal actually replaces property tax revenue for...
  • Leftist RINO's Praise Ohomo over Gay "Marriage"

    05/15/2012 8:37:41 PM PDT · by publius321 · 2 replies
    The exorbitant cost of being a "Big Tent" Party
  • How the Feds Created a Cronyism Car Wreck

    05/15/2012 4:05:43 PM PDT · by wewillnotcomply · 3 replies
    In 2008, the federal government bailed out two major automakers – General Motors and Chrysler, along with their financial groups that offered loans. At the time, it was said that these bailouts needed to happen to prevent a crisis, and that these auto companies would pay back the taxpayers in time.The companies got tens of billions of dollars to keep operating. Disaster averted? No. Chrysler and GM certainly benefited, but the taxpayers are now footing the bill. The Treasury Department has admitted that taxpayers will lose a staggering $14 billion from the bailout. At least, that was what they said...
  • Chefs Love Democrats? The Top 15 Chef Political Donations (w/slideshow)

    05/15/2012 2:30:32 PM PDT · by 2ndDivisionVet · 27 replies
    The Braiser ^ | May 15, 2012 | Tina Nguyen
    It’s a presidential election year, and the sexiest topic this cycle is campaign finance. With the national conversation tuned to Super PACs, the staggering income disparities between major donors and the rest of America, and Wolfgang Puck’s appearance at the $15 million Obama bash headlined by George Clooney, The Braiser wanted to know: how do celebrity chefs support political candidates? With fancy dinners? With non-connected joint expenditure committees? With hundred dollar bills baked into pies and delivered to campaign headquarters? We dug through the Federal Election Commission’s individual filings, as well as POLITICO’s old trash, to find the chefs who...
  • Obama, Will You Please Define “Fair,” Then Stick To It?

    05/15/2012 2:03:53 PM PDT · by Starman417 · 10 replies
    Flopping Aces ^ | 05-15-12 | Warren Beatty
    I was, the other day, trying to explain the word "fair" to a friend. Suddenly it occurred to me that I was trying to explain the definition from a statistics perspective, and that was the cause of the miscommunication. In statistics, the word "fair" means that probabilities of occurrence does not change each time an action or process (trial) is conducted. If a process is "fair," then exact probabilities of occurrence can be calculated regardless of initial conditions. We statisticians (besides being weird) understand the word "fair" because it has a very precise, unchanging meaning. That is the reason why,...
  • Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

    05/15/2012 1:23:23 PM PDT · by bruinbirdman · 10 replies
    The Telegraph ^ | 5/15/2012 | Ambrose Evans-Pritchard
    The Germans must abolish themselves Eric Dor's team at the IESEG School of Management in Lille has put together a table on the direct costs to Germany and France if Greece is pushed out of the euro. These assume that relations between Europe and Greece break down in acrimony, with a full-fledged "stuff-you" default on euro liabilities. It assumes a drachma devaluation of 50pc. They conclude: The total losses could reach €66.4bn for France and €89.8bn for Germany. These are upper bounds, but even in the case of a partial default, the losses would be huge. Assuming that the new...
  • Taxpayers Subsidize Forbes 'Green' Billionaires' Schemes

    05/15/2012 12:17:40 PM PDT · by jazusamo · 7 replies
    National Legal & Policy Center ^ | May 15, 2012 | Paul Chesser
    The three top U.S. tycoons on Forbes’s “Green” billionaires list have received billions of dollars in taxpayer subsidies for their clean technology companies, after they spent hundreds of thousands of dollars for political campaigns and lobbying. Two of the moguls, Elon Musk and Vinod Khosla (in photo), are technology pioneers based in California with net worths of $2 billion and $1.3 billion, respectively. The third, Christy Walton, is the widow of the late John Walton who was an heir to the Walmart fortune. Forbes says she is “the world’s richest woman” is worth $24.8 billion. Significant percentages of Musk’s...
  • Obama’s Gamble on GM Worse than JPM’s Trading Flub

    05/15/2012 11:40:02 AM PDT · by jazusamo · 2 replies
    National Legal & Policy Center ^ | May 15, 2012 | Mark Modica
    When JPM Chase reported that it had lost $2 billion recently on risky derivative trades, the predictable call came from the Obama Administration to increase regulation on banks. The hypocrisy of the politically motivated proclamations becomes evident when you compare the JPM trades to Treasury's continued gamble on its taxpayer funded stake in General Motors, which has suffered an approximate $5 billion loss in value over the past year. US taxpayers unwillingly own 500 million shares or 32% of General Motors' stock, courtesy of Team Obama. The Administration has had the ability to sell the stake for over a year...
  • Sen. Bradley's view on the loss of Lugar.

    05/15/2012 8:25:36 AM PDT · by Paul46360 · 12 replies
    Wgntv.com ^ | 5-14-12 | WGN NEWS MIDDAY
    Towards the end of the interview Bradley expresses his sadness at Lugar's loss and the dumb sheep that voted Lugar OUT.
  • Cruel and Unusual Regulation

    05/15/2012 7:51:31 AM PDT · by 92nina · 1 replies
    ATR ^ | 2012-05-15 | Hugh Johnson
    Despite being prohibited by no less than the United States Constitution, cruel and unusual punishment is apparently in vogue at the EPA. Obviously former EPA administrator Al Almendariz meant figurative crucifixion, but his negative attitude betrays an alarming view towards oil and natural gas companies that provide over 90 percent of primary residential energy consumption. Thankfully Al Almendariz resigned when his comments recently came to light nearly two years after he made them. That’s two years of crucifying oil and natural gas companies while Obama wastes money Solyndra and other on failed green collar projects. Green energy provides less than...
  • ONLY In AMERICA!

    05/15/2012 7:15:52 AM PDT · by Reaganite Republican · 2 replies
    Reaganite Republican ^ | May 15, 2012 | Reaganite Republican
    Only in America could politicians talk about the greed of the rich at a $35,000 a plate campaign fund raising event. Only in America could people attempt to claim that the government still discriminates against black Americans when we have a black President, a black Attorney General, and roughly 18% of the federal workforce is black (only 12% of the US population is black). Only in America could we have had the two people most responsible for our tax code -'TurboTax Tim' Geithner, the head of the Treasury Department and Charles Rangel (who once ran the Ways and Means Committee)- BOTH...
  • Juvie Narcos On The Border

    05/15/2012 5:28:05 AM PDT · by AtlasStalled · 4 replies
    Friends of Ours ^ | 05/15/12 | Friends of Ours
    The politicians love to wax romantic about today's kids as America's future, and apparently the current generation bodes poorly for a degenerate nation. In Columbus, NM customs officers since the start of the year "have caught six students trying to smuggle drugs into the country during the busy morning rush hour before classes" as reported by Angela Kocherga for KVUE: As many as 400 students a day use the pedestrian lanes at the Columbus port of entry on school days. The majority are U.S. citizens, but they have family ties in Mexico and live on both sides of the border....
  • Teachers' Union Fails Accounting 101 - reports revenues as profits

    05/15/2012 5:04:27 AM PDT · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 5/12/2012 | Tom Gantert
    In an attack on the bill that would allow more charter online cyber schools, the American Federation of Teachers Michigan union claims that a private company that provides curriculum for charter cyber schools made $522 million in profits in 2011. In fact, K12 Inc. had total revenues — not profits — of $522.5 million, and a net income of $12.8 million, according to MarketWatch. “They are just confusing revenues for profits,” said Michael Van Beek, education policy director at the Mackinac Center for Public Policy. “It blows up their argument that this company is going to make hundreds of millions...
  • Obama to Black Pastors: Choose You This Day Whom ye will Serve

    05/14/2012 9:09:58 PM PDT · by publius321 · 18 replies
    After making his "historic" remarks on same-sex unions last week, President Barack Obama led a conference call with black church pastors to explain his support for gay marriage, the New York Times reported that the call was held with "eight or so African-American ministers. "They were wrestling with their ability to get over his theological position," the Rev. Delman Coates, a Maryland pastor who was on the call, told the NY Times. The title of the article was "Obama calls pastors to explain gay marriage support; black churches ‘conflicted’ "Conflicted"? There really is no reason to be conflicted. They either...
  • Obama’s Economic Fallacy: The Not-To-Do List

    05/14/2012 8:37:06 PM PDT · by NaturalBornConservative · 1 replies
    Natural Born Conservative ^ | May 14, 2012 | Larry Walker, Jr.
    Small Business Goals, Rewards and Incentives* By: Larry Walker, Jr. *“Contrariwise, if it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic.” ~ Lewis Carroll *In his latest weekly address, Mr. Obama outlined a mirage of goals, rewards and incentives which he says Congress ‘must’ act upon immediately. But for the most part, what he proffered is just more of the same tried and failed policies, conjured from the same line of illogical reasoning we’ve heard, time and time again, over the last four years. Therefore, what Mr....
  • Prepare to Survive Total Economic Collapse

    05/14/2012 7:11:25 PM PDT · by Kartographer · 112 replies
    The collapse will be a cycle. Its wise to be prepared for all the angles of possibilities .It will be survival of the fittest and most aware. That's exactly what's happening. Either be aware, prepare, survive, and thrive.. or stay in denial and eventually die on your knees. People have a choice. Most choose to stick their heads in the sand while keeping their lazy fat asses in the air. Most of em enjoy the raping.Avoid big cities and crowded places ,Buy food, water, a water purifier, guns and ammo. You will need medical supplies, vitamins and ibuprofen. Power will...
  • Ally Financial - Another Auto Bailout Bankruptcy

    05/14/2012 12:38:51 PM PDT · by jazusamo · 2 replies
    National Legal & Policy Center ^ | May 14, 2012 | Mark Modica
    The Obama Administration has become quite the expert on bankruptcy filings. The Detroit Free Press reports that the third auto bailout partaker, Ally Financial, has filed bankruptcy for its mortgage subsidiary, ResCap. The government still owns 74% of Ally, and now has an 0 for 3 record on restructuring bailed out auto-related companies outside of bankruptcy. Three years ago the Obama Administration, particularly the Auto Task Force, had a mission to restructure General Motors, Chrysler and GM's lending arm, GMAC. The stated goal was to restructure the auto industry players outside of bankruptcy. This stated goal turned out to be...
  • City Turns to Residents For Bad Investment Bailout - Loses millions in quest for film business

    05/14/2012 12:23:17 PM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 5/11/2012 | Anne Schieber
    Allen Park City Manager John Zech says if a tax increase isn't approved by voters today, the city will likely have to get an emergency manager. Zech says a 4-mill, 2-year tax increase to pay for $28 million it borrowed to buy land for a failed movie studio is much needed. The city also borrowed $2 million against next year’s tax revenue and is asking for another $2 million from the state of Michigan in an emergency loan, Zech said. If the state doesn’t loan the city money, Zech said the city would try to sell “fiscal stabilization bonds” so...
  • Courtesy of the NATO Summit: Slowdowns, Shutdowns, and Patdowns

    05/14/2012 9:05:18 AM PDT · by jfd1776 · 2 replies
    Illinois Review ^ | John F. Di Leo
    For much of human history, world leaders never met each other. Oh, they might have met on the field of battle, or at the arranged weddings of their children… but for the most part, rulers didn’t meet unless they ruled neighboring countries. The world was simply too big a place, distances too great, the burdens of monarchy too demanding, to risk a three or six month voyage. You might not have a throne to return to, by the time you returned. So they invented diplomats. Nations would appoint permanent ambassadors, or at least temporary envoys, to visit other heads of...
  • Michigan's Job Loss Apocalypse Averted! - No thanks to the 'Department of Corporate Welfare.'

    05/14/2012 7:46:49 AM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 5/10/2012 | Jack McHugh
    During a three-month period ending last September, 190,661 Michigan jobs disappeared. That’s nearly one out of every 20 jobs in the state. So why weren’t there headlines about an employment apocalypse? Because during the same period 227,785 new jobs were created here. This “job churn” is typical of the dynamic U.S. economy and labor market, and it goes on continuously. Michigan’s “one-state recession” of the past decade occurred not because no new jobs were created, but because more jobs disappeared: Michigan's Job Gains and Losses Among other lessons, job-churn figures expose the absurdity of state corporate welfare schemes granting tax...
  • Agenda 21 Treaty on the Horizon

    05/13/2012 5:13:54 PM PDT · by Whenifhow · 16 replies
    http://noisyroom.net ^ | 5.13.12 | Henry Lamb
    While liberal journalists continue to claim that Agenda 21 is just a “conspiracy theory” being advanced by right-wing crackpots, the International Union for the Conservation of Nature (IUCN) and the International Council for Environmental Law (ICEL) have released their fourth Draft of the International Covenant on Environment and Development. This document was designed from the beginning to convert the “soft-law” non-binding Agenda 21 into firmly binding global law — enforceable through the International Criminal Court and/or the dispute resolution features of the Convention on the Law of the Sea. Two excellent analyses of this document are available here and here....
  • Yes, Arianna, We Have No Bananas

    05/13/2012 3:44:51 PM PDT · by Kaslin · 3 replies
    PJ Media Spengler ^ | May 13, 2012 | David P. Goldman
    its foreign debt, she avers, like Argentina: Argentina, which defaulted and restructured beginning in 2001, offers a point of comparison. The austerity crowd warned that Argentina would collapse if it stopped pegging the peso to the dollar and defaulted on its debt. There are many differences between Argentina and Greece. But Argentina’s default was followed by a few short months of economic crisis and then many years of steady economic growth — a dramatically different direction than the one Greece is now taking toward a potentially endless path of contraction that is destroying millions of lives and crippling the indomitable...
  • Gun sales strong in Polk

    05/13/2012 10:11:34 AM PDT · by 2ndDivisionVet · 4 replies
    The Winter Haven News Chief ^ | May 13, 2012 | Lorrie Delk Walker
    Gun sales historically increase when there is a possibility that a Democrat will be elected — or re-elected — president, according to local gun shop spokesmen, and the trend continues this election season. Several Polk County gun shops report that sales continue to be strong. Hartman's Guns and Ammo in Winter Haven experienced increases beginning in late 2011, but business has been robust for the past five years, said Jeff Riggeal, manager of the gun department. Handguns are the shop's top sellers, followed by semiautomatic rifles. Sales are up about 20 percent this year for Craig Shaver, owner of Arms...
  • Regulation, JPMorgan Chase and the Parable of "The Titanic and Eastland"

    05/13/2012 9:24:40 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 05/13/2012 | Anthony B. Sanders
    The media is awash with stories about JPMorganChase’s $2 billion trading loss last week. Well, JPMorganChase earned $5.4 billion in Q1 2012, so they can handle a $2 billion trading loss. Why the hysteria? Of course, there is concern over enormous losses biting taxpayers if a bank fails. But my concern is the hysterical reactions for political gain. This hysteria results in a “rush to regulation” rather than a measured response. It is typical of our “Philadelphia” approach to regulation. Pick an immflamatory sentence and talk to people like they are 4 years old. The sentence is “JPMorganChase loses $2...
  • Federal Jury Convicts Three Fazios

    05/13/2012 4:56:06 AM PDT · by AtlasStalled · 3 replies
    Friends of Ours ^ | 05/13/12 | Friends of Ours
    It was a family affair. Three relatives with former leadership positions in Brooklyn's Local 348-s of the United Food and Commercial Workers Union -- Anthony Fazio Sr., Anthony Fazio Jr. and John Fazio Jr. -- were convicted by a Manhattan federal jury after a three week trial for using the union over two decades as a platform for their criminal schemes according to a press release by Department of Justice prosecutors. The Fazios, among other things, regularly extorted cash payments from unionized businesses in exchange for labor peace and looted the union's benefit funds by submitting fraudulent invoices for non-existent...
  • Sarah Palin at SALT Conference: “Hello One Percent! More Power to Ya!”

    05/12/2012 3:57:44 PM PDT · by 2ndDivisionVet · 41 replies
    A Time For Choosing ^ | May 12, 2012 | Gary P. Jackson
    While Obama was out hobnobbing with the Hollywood celebrities Sarah Palin was talking about geopolitical events and macroeconomic trends in Las Vegas. Only this short video clip has surfaced [so far] of Sarah Palin’s keynote address at Friday’s SALT conference in Las Vegas on Friday. Here she is going after the GSA, and all of the wasteful spending: (VIDEO AT LINK) Some bloggers including Bailey McCann, the editor and publisher of CivSource live tweeted the event. From McCann: Palin opens her remarks at #SALT2012 “hello 1% more power to you.” Palin at #SALT2012 “politicians are really crafty.“ Palin: Hillary was...
  • The $2 Billion Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market

    05/12/2012 10:44:24 AM PDT · by SeekAndFind · 41 replies
    The Economic Collapse Blog ^ | 05/12/2012 | Michael Snyder
    When news broke of a 2 billion dollar trading loss by JP Morgan, much of the financial world was absolutely stunned. But the truth is that this is just the beginning. This is just a very small preview of what is going to happen when we see the collapse of the worldwide derivatives market. When most Americans think of Wall Street, they think of a bunch of stuffy bankers trading stocks and bonds. But over the past couple of decades it has evolved into much more than that. Today, Wall Street is the biggest casino in the entire world....
  • Something Wicked This Way Comes: Disability and Average Weeks Unemployed Skyrocketed Since Mid 2010

    05/12/2012 9:24:49 AM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 05/12/2012 | Anthony B. Sanders
    There is something wicked in the employment numbers. The number of disabled workers has increased by 2,209,000 since July 2010 while the average weeks unemployed grew from 32.6 weeks to 42.0 weeks. The almost meaningless civilian unemployment rate, however, gives a distorted view of what is really happening. As we know, the civilian unemployment rate has fallen to 8.1% from a high of 10.0% in 2010. Rather than focus on the percentage of the labor force that is unemployed, let’s look at the actual number of unemployed: 12,500,000. Like the unemployment rate, it shows a similar downward trend which trumpets...
  • Evolving to Sodom and Gommorah (Saturbray)

    05/12/2012 8:08:48 AM PDT · by bray · 34 replies
    www.brayincandy.com ^ | 5/12/12 | bray
    Mercy, peace and LOVE be yours in abundance. The Sin and Doom of Godless Men… Jude 1:2 So Lame Duck Limping has evolved to see that homosexuals should be allowed to marry for equality. Talk about the oldest tactic in the liberal playbook, saying you have evolved. These self important elitists use this term all the time to let everybody know how superior they are to those dinosaurs who they disagree. This tactic is only second to the racist card however it is the same card played in a slightly different way. Let’s not discuss the issue just simply say...
  • Have Republicans No Sympathy For the Jobless?

    05/12/2012 7:59:16 AM PDT · by CHRISTIAN DIARIST · 54 replies
    The Christian Diarist ^ | May 12, 2012 | JP
    I’m a Republican. I’m also a compassionate conservative. That’s why I’m troubled by remarks this week by Maine Gov. Paul LePage suggesting that the unemployed are jobless by choice. “To all you able-bodied people out there,” he said, during a speech at his state party convention, “Get off the couch, and get yourself a job.” Well, I understand that the cost of providing unemployment benefits to Maine’s 51,000 jobless is taxing the state’s treasury. But, I simply don’t believe that most of those out of work in the Pine Tree State– including the able-bodied of whom LePage spoke – prefer...
  • President Admits He Sometimes Forgets the Magnitude of the Recession

    05/11/2012 9:19:42 PM PDT · by John Semmens · 20 replies
    Semi-News/Semi-Satire ^ | 11 May 2012 | John Semmens
    President Obama asked voters to forgive him if he sometimes fails to feel their pain over lost employment, foreclosed homes, and mounting personal debt. “I've led kind of a sheltered life,” the President admitted. “I went to private schools when I was young. I had a scholarship to go to college. I never really had to worry about working to pay my own way. Now, of course, as President, I live in a big house with dozens of servants. I have my own jumbo jet to fly me wherever I want. So, you can see how it might be hard...
  • WT&^%$ Has Happened to Home Appraisals?

    05/11/2012 3:12:16 PM PDT · by pabianice · 53 replies
    The Nav Log ^ | 5/11/12 | Keith
    Recently, I applied for a new, lower-rate mortgage. My credit rating is perfect and is quoted as 801 (average) by the three financial rating companies. I am a fiscal conservative and my record shows it. I have owned homes since 1977 and have never been late with a mortgage payment, let alone missed one. I have a guaranteed monthly income plus an investment portfolio. In March I applied for a new mortgage to drop my interest rate from 4.8 to 3.8. The contractor who had rebuilt my home to new standards in 2006 unofficially appraised my home for $385K as...