Keyword: obamadepression

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  • Obama: GOP lawmakers will pay for blocking jobs bill

    11/14/2011 6:48:03 AM PST · by markomalley · 27 replies
    The Washington Times ^ | November 14, 2011 | Dave Boyer
    Americans “aren’t feeling real good” about Republicans in Congress who have blocked his $447 billion jobs bill, President Obama said late Sunday night. “The American people, at this point, are wondering about congressional leadership in failing to pass the jobs bill — the components of which the majority of Americans, including many Republicans — think are a good idea,” Mr. Obama said at a news conference in Hawaii at the conclusion of a Pacific summit. He said Republican lawmakers are likely to pay a price at the polls next November for standing in the way of his proposals, which include...
  • Obama's New Job Plan: Kill 400,000 Jobs Immediately

    11/12/2011 8:02:12 AM PST · by Kaslin · 31 replies
    Townhall.com ^ | November 12, 2011 | John Ransom
    The decision by the Obama administration to delay any action on the XL Keystone pipeline until after the election is a fitting development for an administration that has pursued a bankrupt energy policy, a bankrupt jobs policy and is quite literally bankrupting the country with politics thinly veiled as policy. And the beauty for Obama in this latest axe he's taken to jobs in the USA is that he doesn't even have consider Congress while he's swinging it. He can kill close to a half-a-million jobs all on his own.    “The State Department said Thursday it would take up to 18...
  • Obama reads riot act to European leaders in late night phone calls and orders them to...

    11/11/2011 6:41:53 AM PST · by Libloather · 73 replies
    Daily Mail ^ | 11/11/11
    Obama reads riot act to European leaders in late night phone calls and orders them to take more dramatic action on debt crisisBy Daily Mail Reporter Last updated at 12:55 PM on 11th November 2011 Barack Obama has read the riot act to the leaders of several European countries - saying more dramatic action is needed to avert a eurozone meltdown. The U.S. President made telephone calls to German Chancellor Angela Merkel, French President Nicolas Sarkozy and Italian President Giorgio Napolitano late last night. Treasury Secretary Timothy Geithner said the president had demanded faster action from Europe. It came as...
  • It Is 1931. We Are Austria. If The Fed Doesn't Save Us Here Comes Another Great Depression...

    11/09/2011 3:27:31 PM PST · by blam · 76 replies
    TBI ^ | 11-9-2011 | Henry Blodget
    DELONG: It Is 1931. We Are Austria. If The Fed Doesn't Save Us Here Comes Another Great Depression... Henry Blodget Nov. 9, 2011, 5:21 PM How does Berkeley professor Brad Delong feel about what's going on in Europe? He's freaking out: Time to Spread Foam on the Runway: The Federal Reserve Needs to Act Now to Firewall Off the Eurocrisis I have been complaining for some time now that Reinhart and Rogoff think that the time is always 1931 and that we are always Austria--that the great fiscal crisis is about to erupt and send us lurching down toward Great...
  • Generation Jobless: Young Men Suffer Worst as Economy Staggers

    11/07/2011 5:30:01 PM PST · by MinorityRepublican · 12 replies
    The Wall Street Journal ^ | NOVEMBER 7, 2011 | CONOR DOUGHERTY
    Cody Preston, 25, keeps looking for work that will pay what he made installing granite counters. PORTLAND, Ore.—Few groups were hit harder by the recession than young men, like Cody Preston and Justin Randol, 25-year-old high-school buddies who didn't go to college. The unemployment rate for males between 25 and 34 years old with high-school diplomas is 14.4%—up from 6.1% before the downturn four years ago and far above today's 9% national rate. The picture is even more bleak for slightly younger men: 22.4% for high-school graduates 20 to 24 years old. That's up from 10.4% four years ago. In...
  • Economy: The rising cost of eating

    11/03/2011 8:26:01 PM PDT · by DeaconBenjamin · 90 replies · 1+ views
    Messenger Post ^ | Posted Nov 03, 2011 @ 09:48 AM | By Scott Pukos, staff writer
    A surge in food prices this year is impacting local grocery stores and restaurants, which in turn affects the people buying food from these places. But in many cases, owners of eateries and shopping venues say they have little choice but to raise prices to keep up with costs. “Oh yeah, prices have gone up like crazy,” said Mike Hetelekides, owner of The Villager Restaurant and Diner in Canandaigua. “We can’t keep up.” The U.S. Agriculture Department said last week that it expects retail food prices to increase 3.5 percent to 4.5 percent this year, after climbing just 0.8 percent...
  • Fed Lowers Growth Forecast, Raises Jobless Projections

    11/02/2011 11:44:56 AM PDT · by Qbert · 36 replies
    Reuters via CNBC ^ | 2 Nov 2011 | Reuters
    The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy. [Snip] Policymakers did not see the jobless rate falling to a level they consider consistent with full employment even at the outer edge of their forecasting horizon, the final quarter of 2014. Officials now expect the world's largest economy to expand by a tepid 2.5 percent to 2.9 percent next year, down from the rosier 3.3 percent to 3.7 percent they were expecting in June. They saw the unemployment rate going no...
  • Peanut Butter Prices Skyrocket in Obamaville

    11/02/2011 11:35:33 AM PDT · by Kaslin · 35 replies
    Rush Limbaugh.com ^ | November 2, 2011 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Well, finally I find some sound bites here that are not about me. Okay. We're gonna start at number 15. Folks, I'm sorry to do this but I just got the sound bite roster and I'm going through here and it's all about me. It's got Sharpton talking about me, Brokaw talking about me, everybody talking about me -- and I don't want to play those. So 15 through 19 is where we'll start, and after that, you know, I gotta play it by ear. How you doing, folks? Great to have you... (interruption) Oh, I'll play...
  • CEOs: Obama is bigger threat to success than Europe

    11/02/2011 9:48:08 AM PDT · by tobyhill · 6 replies
    msn money ^ | 11/2/2011 | jim cramer
    Can this economy turn without help from Washington, D.C.? Can it turn even with Washington hurting it? Those are the two questions I am asking industrial CEOs, and the answers are a little surprising. First, many of the industrial CEOs I deal with actually see a turn happening in this country's economy. They see it in nonresidential construction, which can be a real driver of the GDP growth. They see it in autos, where a 13 million auto build, once dreamed of, is now a reality. They see it in larger orders for trucks and generators and construction equipment. They...
  • Obama: We’re better off with my policies than four years ago (Watch Video)

    11/02/2011 9:24:40 AM PDT · by SeekAndFind · 19 replies
    Hotair ^ | 11/02/2011 | Ed Morrissey
    As Jim Geraghty says, it all depends on your definition of “better.” Do we have more jobs? No. Do we have lower unemployment? No. Do we have a more balanced federal budget? No. Do we have increasing household income? No.Hope and change, baby! CLICK ABOVE LINK FOR THE VIDEO Well, you know, I think we are better off now than we would have been if I hadn’t taken all the steps that we took. I don’t think the country is stronger yet then it was when the economy was still booming and we didn’t have Wall Street crisis, and we...
  • Occupied with jobs, jobs, jobs

    10/30/2011 2:11:08 PM PDT · by Kaslin · 18 replies
    Townhall.com ^ | October 30, 2011 | Paul Jacob
    Has the country gone mad? No need to answer; the question is rhetorical. (In other words, I know the answer, too.) According to the Bureau of Labor, 14 million Americans together make up our dismal national unemployment rate of 9.1 percent. That figure doesn’t include the 9.3 million who have uncomfortably settled into part-time work, or the million additional folks who have become discouraged and stopped looking for work altogether. This is a depression. No doubt, some agency of government spares no expense cataloguing the psychiatric records needed to substantiate that diagnosis.President Obama campaigns across the country for his jobs bill...
  • Fox Report With Shepard Smith: Praise To Hussein!

    10/27/2011 4:10:47 PM PDT · by Recovering_Democrat · 43 replies
    Fox News | 10/27/11 | Recovering_Democrat
    Just finished watching "Special Report" and before I could turn the channel, there was prancing Shep, singing the praises of Hussein over the stock market climb.
  • Obama’s Health Care Law Penalizes Marriage, Analysts Say

    10/27/2011 3:30:23 PM PDT · by tobyhill · 11 replies
    Fox News ^ | 10/27/2011 | Jim Angle
    A new wrinkle has surfaced in the implementation of the federal health care law that critics argue will impose a significant penalty on women and marriage. The law includes generous subsidies for the uninsured so they can afford to buy coverage in the new insurance exchanges that are part of the legislation. But several analysts told Congress Thursday the nature of the subsidies has an odd effect. "The way this bill is structured, there are disincentives for women to marry and disincentives for women to work," said Diana Furchtgott-Roth, a senior fellow at the Manhattan Institute for Policy Research. "And...
  • More suburban, middle class slide into poverty

    10/24/2011 4:40:46 AM PDT · by Graybeard58 · 44 replies
    Chicago Sun-Times ^ | Updated: October 24, 2011 6:23AM | Francine Knowles
    Fourteen months ago, Aurora resident Prentiss Bailey was going about happily living his life as usual. He was employed at a printing company where he’d worked for 10 years—a job that paid $17 an hour and that with the consistent overtime and $4,000 and $5,000 annual Christmas bonuses he got, enabled him to take care of his family and enjoy what he considered a middle income life. Today, he and his 10-year–old daughter live in a homeless shelter. So does 33-year-old Robert Estes, also of Aurora. They’re among the nearly 193,000 people who’ve been added to the ranks of the...
  • Occupy Wall Street necessary step forward (WWKMD*)

    10/21/2011 4:39:37 PM PDT · by 2ndDivisionVet · 4 replies
    The Acorn of Drew University ^ | October 21, 2011 | Corey Swika-Post, Opinions Editor
    Most people on Drew’s campus have probably heard the noise being caused by the protesters in New York City concerning the Occupy Wall Street movement, but how many actually know the details of what is going on? The Occupy Wall Street movement, which has inspired dozens of other “Occupy” events not only across the country but also the world, began a little more than a month ago as a protest to the various financial troubles being experienced in the United States today. The most well-known theme of the movement is the “99 percent versus the 1 percent” idea. That is,...
  • #Occupy Emails Reveal ‘Trojan Horse’ Strategy to Hide Socialist, Anarchist Goals of OWS 'Mob'

    10/21/2011 4:24:20 PM PDT · by Tanniker Smith · 25 replies
    Breitbart Presents Big Government ^ | 10/20/11 | Lee Stranahan
    A search of the email cache that BigGovernment released last week reveals that the #Occupy movement is largely driven by socialists and anarchists who realize they need to conceal their actual message and goals in order to appeal to the political mainstream. The goal of #Occupy is to build large enough numbers where a ‘mob mentality’ takes over so they achieve their real aim of overthrow, as evidenced by a statement from one of the #Occupy movement’s earliest and strongest advocates: …when the numbers are big enough, they will feel their oats, get impatient, and start demanding more than you...
  • Pelosi Statement on Republican Obstruction of Bill to Keep Teachers and First Responders On the Job

    10/21/2011 9:17:53 AM PDT · by Sub-Driver · 16 replies
    Pelosi Statement on Republican Obstruction of Bill to Keep Teachers and First Responders On the Job October 21, 2011 San Francisco – Democratic Leader Nancy Pelosi released the following statement today after Senate Republicans unanimously blocked last night the “Teachers, First Responders Back to Work Act,” which would create or save approximately 400,000 jobs for teachers, cops and first responders: “Last night, Senate Republicans voted unanimously against America’s teachers and first responders; they stood in opposition to strengthening American communities; they prevailed on behalf of millionaires and against middle class families; they thwarted job creation and economic growth. “This is...
  • Senate Democrats Vote for More Rape and Murder

    10/21/2011 4:19:49 PM PDT · by Kaslin · 2 replies
    Ruh Limbaugh.com ^ | October 21, 2011 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Did you see that? Senate Democrats have voted for more women to get raped, and Senate Democrats also voted for more murders. Senate Democrats voted down Obama's anti-rape and anti-murder bill. Senate Democrats voted against the $35 billion bill that would have prevented rape. We never heard from rapists yesterday about whether they were scared or not. Maybe we'll hear from some today. JOHNNY DONOVAN: And now, from sunny South Florida, it's Open Line Friday! RUSH: Open Line Friday! Yip yip yip yip yahoo. One of the greatest career risks ever taken by a major media figure....
  • Why Did the White House Cancel the Rose Garden Bill Signing Ceremony for the Free Trade Agreements?

    10/21/2011 3:19:52 PM PDT · by NoLibZone · 16 replies
    ABC news ^ | Oct 21 2011 | J Tapper
    Why did the White House cancel a Rose Garden bill-signing for the Free Trade Agreements, opting instead for a behind-closed-doors event? On Tuesday, the White House issued a press release announcing that “On Friday, October 21st, President Obama will sign the Korea, Panama and Colombia Free Trade Agreements and the renewal of Trade Adjustment Assistance for workers in the Oval Office before making remarks in the Rose Garden. In his remarks, President Obama will underscore that these trade agreements will significantly boost American exports, support tens of thousands of American jobs and protect labor rights, the environment and intellectual property....
  • Wall Street Did It? ( Not! Govt. Housing Bubble )

    10/21/2011 3:23:40 PM PDT · by Para-Ord.45 · 64 replies
    http://www.investors.com/ ^ | October 20 2011 | IBD
    (SEE GRAPHIC) But based on the number of toxic loans in the system in 2008, the government was responsible for not just a simple majority, but more than two-thirds. It's quantifiable — 71% to be exact (see chart). And the remaining 29% of private-label junk was mostly attributable to Countrywide Financial, which was under the heel of HUD and its "fair-lending" edicts. To be fair, the blame-Wall Street narrative has cemented in the public consciousness, and is hard to crack. That's because in the wake of the crisis, the Obama White House and Pelosi-Reid Congress engineered a cover-up of Washington's...
  • Obama job approval: Worst quarter yet

    10/21/2011 3:32:16 PM PDT · by Kaslin · 16 replies
    IBD Editorials ^ | October 21, 2011 | Andrew Malcom
    President Obama's cumulative job approval for the last quarter was the lowest of his entire administration and put him historically down in the lowlands of Jimmy Carter country. The 41% average job approval for Obama's 11th quarter in office (july 20-Oct. 19) was down four points from his previous low (the 7th quarter) and down six points since the tenth quarter at the beginning of summer. Only one other president in the past six decades has had a lower 11th quarter job approval. You guessed it: J. Carter at 31.4 in 1979. The highest 11th quarter approval was Dwight Eisenhower's...
  • Obama Loans Car Company Half a Billion So They Can Builds Cars in Finland

    10/21/2011 3:35:37 PM PDT · by tobyhill · 25 replies
    Fox News ^ | 10/21/2011 | Matthew Most, Brian Ross, and Ronnie Greene
    With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work. Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland. "There...
  • Jobs to Obama: “You’re headed for a one-term presidency” because the US can’t build factories

    10/21/2011 11:11:04 AM PDT · by matt04 · 32 replies
    The Huffington Post pulls some words that Steve Jobs had for president Obama from Isaacson’s Steve Jobs bio. On the meeting, Jobs insisted that Obama himself ask for a personal invitation. They met in the Westin Airport hotel in San Francisco. It sounds like like Jobs is more of a Conservative than “hippy Liberal” in his incredibly blunt words to President Obama: “You’re headed for a one-term presidency,” he told Obama at the start of their meeting, insisting that the administration needed to be more business-friendly. As an example, Jobs described the ease with which companies can build factories in...
  • Senate rejects big piece of Obama jobs bill [ Democrats vote for more Rape ]

    10/21/2011 9:24:46 AM PDT · by NoLibZone · 16 replies
    San Francisco Chronicle ^ | Oct 21,2011 | AP
    President Barack Obama and his allies in the Senate promise to press ahead with separate votes on pieces of his failed $447 billion jobs measure despite unanimous opposition from Republicans. But there also are signs of slippage among Democrats and evidence the strategy isn't working with voters. Future votes on individual pieces of the measure, however, aren't likely to fare better than a pared-back jobs measure designed to boost hiring of teachers and first responders that Republicans and a handful of Democrats scuttled on Thursday. Obama's revised plan failed on a 50-50 test vote that fell well short of the...
  • Obama, delighted with Senate defeat of his jobs bill, criticizes GOP anyway

    10/21/2011 3:11:57 PM PDT · by Kaslin · 3 replies
    IBD Editorials ^ | October 21, 2011 | Andrew Malcom Political News & Commentary
    Politically, this week unfolded almost as if President Obama had planned it to fit his 2012 reelection strategy. If you can imagine a Chicago pol doing such a politically opportune thing. First, the Democrat wasted three days driving around at taxpayer expense in his armored bus talking about listening to North Carolina and Virginia voters. But instead, in between cheeseburgers, Obama did most of the talking about how important it was for the Democrat-controlled Senate to get busy and pass important parts of his doomed jobs bill. At long last, after 1,000 days in office, it was supposed to seem...
  • Reid Statement on Nevada's Unemployment Rate

    10/21/2011 3:09:20 PM PDT · by mdittmar · 19 replies
    Senate Majority Leader Harry Reid ^ | October 21, 2011 | Senate Majority Leader Harry Reid
    Washington, D.C. – Nevada Senator Harry Reid made the following statement on Nevada's unemployment rate in September: “The unemployment rate remains far too high in Nevada.  We must continue our efforts to create good-paying jobs that can't be shipped overseas, such as the 300 jobs APAC yesterday announced it will bring to our state.“Last night, Republicans continued their obstruction by blocking a jobs bill that would support thousands of teachers and first responders in Nevada. These tactics for political gain are not going to help Nevada's economy recover, and I call on my Republican colleagues to put partisan politics aside...
  • Senate Sets Vote on Next Slice of Stalled Jobs Bill

    10/21/2011 2:03:12 PM PDT · by La Enchiladita · 22 replies
    ABC News ^ | Oct. 21, 2011 | Sunlen Miller
    The Senate will move forward with another piece of President Obama’s jobs bill the first week in November, following the failure of two separate pieces of the bill Thursday. Senate Majority Leader Harry Reid, D-Nev., announced in a conference call today that the next part of Obama’s jobs bill that they will now move to is a $70 billion bill to rebuild roads bridges and infrastructure. The Rebuild America Jobs Act, Reid said, would create “hundreds of thousands” of new jobs. The bill invests $50 billion in immediate projects for roads, rails and airports and another $10 billion for a...
  • Obama ends bus tour with pitch to subdued crowd (just more of the same Obama crap)

    10/19/2011 6:50:32 PM PDT · by tobyhill · 21 replies
    LA Times ^ | 10/19/2011 | Peter Nicholas
    Closing out his bus tour on a low-key note, President Obama made a pitch for his jobs package at a firehouse, where a subdued crowd needed a bit of prompting to applaud his proposal to boost the economy. Obama visited Fire Station 9 to draw attention to a major piece of his $447-billion jobs package. He wants to spread $35 billion among states and cities, in part to prevent layoffs of police and firefighters, and would pay for it with a surtax on millionaires. Congress may vote on that measure as early as this week. On Wednesday afternoon, Obama stood...
  • SEPTEMBER PPI SURGES 0.8%, WAY HOTTER THAN ESTIMATES

    10/18/2011 5:53:27 AM PDT · by blam · 28 replies
    TBI ^ | 10-18-2011 | Joe Weisenthal
    <p>The number is out, and it's HOT!</p> <p>PPI hs jumped 0.8%, well above the 0.2% analysts had expected.</p> <p>Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.</p> <p>The culprit? Blame food and energy.</p>
  • Schumer’s strategy to turn the ailing economy into a “Tea Party recession”

    10/12/2011 9:14:29 AM PDT · by SeekAndFind · 30 replies
    Hotair ^ | 10/12/2011 | Tina Korbe
    As Allahpundit wrote of last night's Senate vote to block the president's jobs bill, the outcome was just about as perfect as it could have been for the president, whose jobs package, loaded as it was with tax hikes Republicans were bound to reject out of hand, wasn't designed to pass in the first place. The vote last night provides the basis for Democrats to blame Republican obstructionism for the next 13 months of a slow-to-no recovery, and blame ‘em they will. But they won’t just blame “Generic Republicans.” As the Senate now lays its plans to vote piece by...
  • Millions could lose unemployment benefits in 2012 (extension is estimated to cost $44 billion)

    10/11/2011 7:33:27 AM PDT · by NormsRevenge · 30 replies
    Yahoo ^ | 10/11/11 | Tami Luhby - CNNMoney
    Millions of unemployed Americans are waiting for Congress to do something other than trade barbs over their job creation plans. If lawmakers don't act soon, the jobless see their unemployment checks start to disappear come January. More than 6 million Americans are set to lose federal unemployment benefits in 2012, with 1.8 million running out in January alone, according to new figures from the National Employment Law Project. President Obama's $447 billion American Jobs Act would extend the deadline to file for federal unemployment benefits for another year. Though the Senate is expected to take up the controversial jobs bill...
  • September Layoffs Highest in Two Years

    10/05/2011 5:32:04 AM PDT · by sunmars · 19 replies
    Fox ^ | Fox
    <p>The number of planned layoffs at U.S. firms in September jumped to its highest in more than two years due to heavy cutbacks by the military and Bank of America, a private report Wednesday showed.</p> <p>Employers announced 115,730 planned job cuts last month, more than double August's total of 51,114, according to the report from consultants Challenger, Gray & Christmas, Inc.</p>
  • Bernanke Warns Recovery 'Close to Faltering'

    10/04/2011 4:08:36 PM PDT · by newzjunkey · 20 replies
    AP ^ | October 4, 2011 | CHRISTOPHER S. RUGABER and MARTIN CRUTSINGER AP Economics Writers
    ... Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday of what most of America has sensed for some time: The economic recovery, such as it is, "is close to faltering." ... Bernanke's exchange with lawmakers seemed to capture the growing belief that no one is prepared to help the global economy in any meaningful way anytime soon. Speaking in unusually frank terms, he also captured the nation's sour economic mood. ... Bernanke told Congress there was little the Fed could do about Europe's problems. ... Bernanke said he believes the Fed's latest move to help the economy would...
  • The Most Important Video Of The 2012 Election Cycle

    10/04/2011 9:15:17 AM PDT · by RabidBartender · 1 replies
    Powerline Blog ^ | Powerline Blog
    No text, just a video at the website playing clips of Obama's speeches while comparing economic numbers when he made the speech, and currently.
  • "Hope & Change" for Corby Industry, Allentown, PA

    10/04/2011 7:34:09 AM PDT · by kcvl · 4 replies
    Subject: Auto-Response from Support - Do not reply Your mail was received and it is queued for a response In 2008 we were promised Hope and Change. We didn't think that meant Corby would have to downsize, slash our support staff and watch thousands of our long-time customers go out of business. It's like a bad dream. So, Corby can no longer answer emails quickly but we do process them in the order they are received so please bear with us. Please visit www.corby.com for more info.
  • 17 Facts That Prove That The Average Family Is Getting Absolutely Pulverized By This Economy

    10/04/2011 8:04:13 AM PDT · by bkopto · 42 replies
    The Economic Collapse ^ | Sept 28, 2011 | Staff
    How in the world does the average American family survive in this economy? The median household income is a little bit less than $50,000 a year right now. So let's call that about $4000 a month. But before any of that money gets spent, you have to take out at least $1000 in taxes. That leaves about $3000 a month to pay all the bills with. With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for power and water, pay for health insurance, pay for home insurance, pay...
  • THE MARKET IS GETTING WORSE: NASDAQ Off 3%, Dow off 240, Banks Getting Killed

    10/03/2011 12:03:04 PM PDT · by blam · 36 replies
    TBI ^ | 10-3-2011 | Joe Weisenthal
    THE MARKET IS GETTING WORSE: NASDAQ Off 3%, Dow off 240, Banks Getting Killed Joe Weisenthal Oct. 3, 2011, 2:48 PM UPDATE AT 2:50: With a little more than an hour to go, markets are getting killed even more. The Dow is off about 240. The NASDAQ is down 3^, and the S&P 500 is down 2.6%. All day has been a continuation and acceleration of the concerns that really got rolling in September, especially on the bank front. Morgan Stanley is down nearly 7%. At rival Goldman Sachs, CDS have hit their highest level since October 2008. Bank of...
  • Obama Camp Slams GOP Field: In Line With Tea Party — Not Most Americans.

    10/03/2011 10:22:17 AM PDT · by Baladas · 22 replies
    Wall Street Journal ^ | October 3, 2011 | Danny Yadron
    Facing grim economic news and weak poll numbers, President Barack Obama’s campaign said Monday morning that the leading GOP presidential candidates are too outside the American mainstream to be elected. “From economics to immigration, Governor Perry, Governor Romney and the Republican field have embraced policies that the American people oppose,” campaign spokesman Ben LaBolt writes in a strategy memo sent to reporters Monday morning. “The campaign to win the Republican nomination has become a campaign to win the hearts and minds of the Tea Party.” The argument is not a new one for Team Obama, but the 850-word memo is...
  • Twelve Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here

    10/02/2011 4:30:15 PM PDT · by blam · 107 replies · 1+ views
    TEC ^ | 10-1-2011
    Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost HereOctober 1, 2011 We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the...
  • Allen West: Obama Intentionally Killing the Economy

    09/28/2011 7:50:03 AM PDT · by tcrlaf · 120 replies
    Fox News ^ | 9-28-11 | Fox News
    Fla. Rep. Allen West was asked if President Obama is just inept or if he is intentionally harming the economy. West says he’s definitely doing this on purpose. (Video at the Fox News link.)
  • BREAKING: Obama proposes letting the jobless sue for discrimination

    09/28/2011 7:52:11 AM PDT · by Scythian · 102 replies
    Advocates for the unemployed have cheered a push by the Obama administration to ban discrimination against the jobless. But business groups and their allies are calling the effort unnecessary and counterproductive. The job creation bill that President Obama sent to Congress earlier this month includes a provision that would allow unsuccessful job applicants to sue if they think a company of 15 more employees denied them a job because they were unemployed. The provision would ban employment ads that explicitly declare the unemployed ineligible, with phrases like "Jobless need not apply." As The Lookout has reported, such ads appear to...
  • Durable-Goods Orders Decline

    09/28/2011 7:37:33 AM PDT · by Wpin · 10 replies
    The Wall Street Journal ^ | Sept. 28, 2011 | By Jeff Bater And Jeffrey Sparshott
    Orders for long-lasting goods unexpectedly fell during August, the second drop in three months as manufacturers struggle with a bad economy. Durable-goods orders decreased by 0.1% from the prior month to $201.76 billion, the Commerce Department said Wednesday. Economists surveyed by Dow Jones Newswires had forecast a 0.2% rise in orders during August for durables, which are goods designed to last at least three years. The drop followed a 4.1% surge in July and a 1.1% decline during June. In an encouraging sign within an otherwise uninspiring report, a barometer used to gauge spending by businesses on equipment rose. Orders...
  • Poll: Majority of Americans blame economy on Obama

    09/22/2011 2:28:42 PM PDT · by RobinMasters · 14 replies
    Washington Examiner ^ | SEPTEMBER 20, 2011 | Joel Gehrke
    Gallup released a poll showing that, for the first time, a majority of Americans blame President Obama for the country's ongoing economic struggles, including 60% of independents. 53% of Americans think Obama deserves either a "great deal" or a "moderate amount" of blame for the economy. The numbers here might actually be worse for Obama than they appear. As Gallup notes, Obama's reelection bid depends on his ability to convince independents that he saved the economy from further catastrophe. But Gallup also reports that President Bush's negative numbers remain as high as they are "because Republicans are more willing to...
  • You Just Witnessed The Third Biggest Weekly DJIA Drop In History

    09/22/2011 1:10:47 PM PDT · by SeekAndFind · 47 replies
    Zero Hedge ^ | 09/22/2011 | Tyler Durden
    A dearth of knife-catchers and bottom-callers suggests that our views on a broad swathe of investors being caught unhedged and offside by Bernanke's relative inaction was correct. By the look of today's huge selloff, investors will become increasingly aware of our recent post on the difference (risks) between owning stocks and bonds. The equity market remains a market in chaos as the following charts show. We can only assume they must be extremely good at discounting whatever it is that talking-heads believe on a tick-by-tick basis - just look at the flip-flopping in the last two months (and in...
  • Dow Dives 500 Amid Recession Concerns

    09/22/2011 11:27:07 AM PDT · by AAABEST · 112 replies
    CNBC ^ | September 22, 2011 | JeeYeon Park
    Stocks added to their sharp losses Thursday, with the S&P 500 piercing through a key technical support level, as ongoing economic jitters in addition to a gloomy outlook from the Federal Reserve fueled fears of a global recession. The Dow bobbed in and out of its August closing low of 10,719.94 and is on track for its worst week in almost 2-1/2 years.
  • Obama's Same Old, Same Old: Raise Taxes

    09/21/2011 8:41:53 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | September 21, 2011 | Donald Lambro
    WASHINGTON -- Once again Barack Obama proposes to raise job-killing taxes on a weakening economy, one that has all but stopped growing under his 1930s-style policies. It's been a confused presidency whose policies have zigged and zagged more times than the stock market. Obama can't seem to decide what his policy should be, changing its direction and its prescriptions from one year to the next. Or, more aptly, from one political strategy to another as his job approval polls continue to plunge. He came into office on a crusade to repeal George W. Bush's tax cuts for upper-income Americans, though...
  • President Obama to host jobs town hall at LinkedIn

    09/20/2011 5:13:40 PM PDT · by Battle Hymn of the Republic · 16 replies
    San Jose Marxist News ^ | 9/20/2011 | Mike Swift
    Less than six months after President Barack Obama visited Facebook, the president will use another Silicon Valley social network, LinkedIn in Mountain View, to host an online discussion about jobs. "During the Town Hall, the President will answer questions about job creation and the economy from members across the country and hear directly from LinkedIn users who range from small business owners and employees to community college students to veterans," the White House announced in a posting Tuesday afternoon on LinkedIn. The President will speak from the Computer History Museum, near LinkedIn's headquarters.
  • A Repeat of the Great Depression Is Our Best Case Scenario

    09/20/2011 10:32:40 AM PDT · by Kartographer · 23 replies
    SHTF Plan.com ^ | 9/20/11 | Mac Slavo
    The mood in the room was definitely that this country is heading towards some kind of collapse, some kind of significant disaster. That everything kind of is lined up and nobody, really, in the political realm, out there in the culture seems to have solutions… … If we look long-term. If we look at the structural problems of the United States, at over $100 Trillion in unfunded liabilities, of ongoing deficits, of no political solutions, of nobody talking about real cuts, where does this all lead? … Unless we have real structural change I think it will [lead to disaster]…...
  • Latest McClatchy/Marist poll: 39% Approval Rating for Obama, Lowest of Presidency

    09/20/2011 9:38:36 AM PDT · by DestroyLiberalism · 43 replies
    McClatchy-Marist ^ | September 20, 2011 | Marist
    President Barack Obama faces a litany of bad news. The president’s job approval rating, his favorability, and his rating on the economy have hit all-time lows. To compound matters, three in four Americans still believe the nation is in a recession and the proportion who thinks the country is moving in the wrong direction is at its highest point in more than a decade. President Barack Obama According to this McClatchy-Marist Poll, the president’s approval rating is at 39% among registered voters nationally, an all-time low for Mr. Obama. For the first time a majority — 52% — disapproves of...
  • CBC’s Cleaver Admits: If Obama Wasn’t President, Black Caucus ‘Would Be Marching on the White House’

    09/20/2011 9:33:02 AM PDT · by NoLibZone · 31 replies
    pajamasmedia.com ^ | Sept 20 2011 | Bryan Preston
    What’s the most obvious difference between Bill Clinton and Barack Obama? Unhappy members of the Congressional Black Caucus “probably would be marching on the White House” if Obama were not president, according to CBC Chairman Rep. Emanuel Cleaver (D-Mo.).“If [former President] Bill Clinton had been in the White House and had failed to address this problem, we probably would be marching on the White House,” Cleaver told “The Miami Herald” in comments published Sunday. “There is a less-volatile reaction in the CBC because nobody wants to do anything that would empower the people who hate the president.” Rather than march...